Before the accounting scandal and the stock crash and the defaulted loans, Luckin Coffee’s billionaire founder Lu Zhengyao was an ideal customer for Credit Suisse Group.”I’ve had I don’t know how many … ( read…
FINANCE
Bank of China Weighs Absorbing Part of $1 Billion Client Losses
Bank of China Ltd., facing a public outcry and regulatory scrutiny over the collapse of a product linked to U.S. crude oil futures, is discussing shouldering part of $1 billion in losses suffered by ……
Beijing city govt to lower COVID-19 emergency response level
Beijing’s municipal government said on Wednesday it will lower its COVID-19 emergency response level effective as of 0000 hours on Thursday, removing quarantine requirements for some people arriving … ( read original story …)
Worried China bondholders call for protection as restructuring wave looms
China’s bondholders are increasingly worried that there is little to protect them from being railroaded into bad deals by troubled borrowers amid a wave of virus-related extensions and restructurings. ( read original story …)
China’s bank BoCom says negative oil prices did not impact customers: local media
China’s Bank of Communications Co Ltd (BoCom) said, according to The Paper, that the plunge in U.S. crude oil futures prices to negative territory this month had no impact on customers of its oil ……
China’s Massive Banks Are Facing a $42 Billion Dividend Trap
As dividends are slashed around the world, the $42 billion in promised payouts by China’s biggest banks have a powerful defender — the Communist Party.Industrial & Commercial Bank of China Ltd. and i … (…
Starbucks Expects China Recovery by September as Coronavirus Seen Easing
Starbucks Corp said on Tuesday it sees sales in China, the company’s biggest growth market, recovering by the end of September, following a massive drop in same-store sales in the current quarter on … (…
China Bets $600 Billion on Infrastructure to Revive Growth
China is trying to build its way out of the coronavirus slump.Economists expect local governments across the country to issue as much as 4 trillion yuan ($565 billion) in so-called special bonds this … (…
Investors Who Bought China Huirong Financial Holdings (HKG:1290) Shares Five Years Ago Are Now Down 45%
The main aim of stock picking is to find the market-beating stocks. But the main game is to find enough winners … ( read original story …)
How China Is Attempting to Prevent a Second Wave of Infections
As the first major country to emerge from coronavirus lockdowns, China is focused on avoiding a devastating second wave of infections as it returns to a semblance of pre-pandemic life. ( read original story …)
Biden peddles corrected story claiming Trump ‘owes’ Bank of China millions of dollars
The Trump campaign is piling on Joe Biden for claiming President Trump is in debt to the Bank of China. Biden, the presumptive 2020 Democratic presidential nominee, suggested Monday that Trump still … ( read…
Australia Stokes China Tensions With Call for Virus Origin Probe
Australia’s calls for an independent probe into the origins of the coronavirus pandemic is heightening tensions with Beijing, worrying businesses in the world’s most China-dependent developed economy. ( read original story …)
China’s Factories Are Back. Its Consumers Aren’t.
The manufacturing giant is once again turning out steel and cellphones. But job losses and pay cuts have left its people reluctant to spend — a problem the U.S. and Europe may soon face, too.…
