In an interview with Yahoo Finance, Bass drew comparisons between the 2008 crisis, and what might happen if world’s second-largest economy hits a rough patch — which may happen as the U.S-China trade … (…
Monthly Archives For August 2019
Offshore yuan hits record low after U.S. brands China a currency manipulator
SHANGHAI (Reuters) – China’s offshore yuan hit a record low on Tuesday, fuelling fresh selling in global financial markets, after the United States branded Beijing a “currency manipulator … ( read original story …)
Yuan Steadies After China Fixes Currency Stronger Than Expected
(Bloomberg) — China’s central bank set its currency fixing stronger than expected, suggesting officials want to slow the pace of declines in the yuan. The People’s Bank of China set its daily … ( read…
Global stocks deepen losses as U.S. brands China currency manipulator
U.S. Treasury Secretary Steven Mnuchin said on Monday the government had determined that China is manipulating its currency, and that Washington would engage with the International Monetary Fund … ( read original story …)
U.S. designates China as currency manipulator for first time in decades
The news knocked the dollar sharply lower and bolstered the price of gold . The Treasury Department said a statement from the People’s Bank of China (PBOC) on Monday made clear that Chinese … (…
China Biologic Reports Financial Results for the Second Quarter of 2019
–2Q19 Total Sales Up 12.7% YoY in USD terms, or 20.4% YoY in RMB terms; Net Income Up 45.5% YoY to $41.6 Million; Non-GAAP Adjusted Net Income Up 29.1% YoY in RMB terms — –1H19…
American farmers say China can’t meet its future demand for soybeans without the US
Brazil, the world’s largest soy exporter, can’t independently produce enough soy for China’s swelling middle class, Darin Johnson, a soy farmer in Southern Minnesota, told Yahoo Finance. Over the past … ( read original story…
World’s Biggest Banks Sink to Record Lows as China Pain Spreads
Industrial & Commercial Bank of China Ltd., the world’s largest lender by assets, lost $11 billion of market value last week after injecting capital into a troubled regional bank as part of a … (…
Valuations of the world’s biggest banks sink to record lows as China’s economic and debt pain spreads in trade war’s aftermath
China’s “big four” state-owned lenders … lost US$11 billion of market value last week after injecting capital into a troubled regional bank as part of a government-orchestrated rescue. Big Chinese … ( read original story…
Yuan falls below sensitive level of 7 to U.S. dollar, raising fears of new phase in U.S.-China trade war
China allowed its yuan to fall below the politically sensitive level of seven to the U.S. dollar on Monday for the first time in 11 years, prompting concern Beijing might use devaluation as a weapon…
Asian stock tumble for 3rd day after China lets yuan sink
Shanghai, South Korea and Australia also retreated. China’s central bank allowed the yuan’s exchange rate to sink below the politically sensitive level of seven to the U.S. dollar. That level has no … ( read…
Oil Could Plunge By $30 If China Restores Iranian Oil Imports – OilPrice.com
Should China decide to defy the latest U.S. tariff … hit and plunge by as much as $20-$30 a barrel, according to Bank of America Merrill Lynch cited by CNBC. Early on Monday, WTI Crude…
Lashing back, China lets yuan drop, halts US farm purchases
He added, “This is a major violation which will greatly weaken China over time.” China’s central bank blamed the yuan’s drop on “trade protectionism” — an apparent reference to Trump’s threat last … ( read…
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