China is playing something approximating that role today—or at least holds that promise. In 2020, it grew 2.3%, leading major economies out of the Covid-19 crisis. It’s seen growing more than 8% this … (…
FINANCE
Bank of America matches efforts by Morgan Stanley, JPMorgan Chase with net-zero financing goal
Bank of America joined select other big banks who’ve pledged to achieve net-zero greenhouse gas emissions through its financing before 2050. ( read original story …)
US STOCKS-Stocks edge lower on Biden warning about China
U.S. stocks slid on Thursday after U.S. President Joe Biden said China was poised to “eat our lunch,” a warning that raised concerns for a market hovering near record highs on hopes of more stimulus,…
China Receives the Most Foreign Investment in 2020
China surpassed the U.S. for the first time as the largest recipient of global foreign direct investment in 2020, with an estimated $163 billion. ( read original story …)
Exclusive: Goldman, other financial firms add China staff, eyeing growth
Global financial firms including Goldman Sachs, BlackRock and Fidelity International are poised to add hundreds of staff in China this year as they look to take advantage of the opening up of its $40 ……
Goldman Sachs and other financial firms boost China staff as financial sector opens up
Global financial firms including Goldman Sachs, BlackRock and Fidelity International are poised to add hundreds of staff in China this year. ( read original story …)
Asian shares mostly gain after Biden speaks with China’s Xi
Major Asian stock indexes were mostly higher on Thursday after President Joe Biden held his first conversation with Chinese leader Xi Jinping since taking office. Many markets in Asia … ( read original story …)
Ingevity reports preliminary fourth quarter and full year 2020 financial results
Ingevity Corporation (NYSE: NGVT) today reported its financial results for the fourth quarter and full year 2020. “We finished the year strongly and delivered solid fourth quarter results,” said John … ( read original story…
Why financial markets need not worry about inflation, for now
Central banks will not withdraw monetary policy support until inflation rises above 2 per cent for a sustained period. While a modest increase is to be expected, it is unlikely to be enough to push…
China’s finance ministry asks Deloitte for internal investigation after whistleblower allegations
China’s Ministry of Finance said on Thursday it has asked Deloitte, one of the world’s “Big Four” accounting firms, to conduct an internal investigation, after an employee anonymously alleged auditing … ( read original story…
Tencent Executive Held by China Over Links to Corruption Case: WSJ
An executive at Tencent Holdings Ltd has been held by Chinese authorities as part of a probe into a high-profile corruption case involving one of China’s former top law-enforcement officials, the Wall … ( read…
China’s central bank expands digital yuan pilot to Beijing
The People’s Bank of China has launched the first large giveaway of the country’s digital yuan central bank digital currency to be held in Beijing. ( read original story …)
China central bank’s new venture signals digital yuan ambitions
The People’s Bank of China (PBOC) has set up a joint venture with SWIFT, the global network that processes transactions between financial institutions in different countries, public business records … ( read original story …)
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