an asset management unit of the Beijing city government, owns 34.73 per cent. Sergio Ermotti, the UBS chief executive, said earlier this year that the bank planned to grow its business in the region and…
FINANCE
US-China trade talks centre on rivalry over technology
President Donald Trump said he expected relations with Beijing to stay on an even keel. “Our great financial team is in China trying to negotiate a level playing field on trade!” he said on Twitter…
UBS tests China’s promise to allow foreign-owned banks
China just announced new rules that will allow foreign banks to take full control of their operations in the country. One bank is already taking the plunge. Switzerland’s UBS (UBS) said Thursday that it would…
How long before China’s massive debt, shadow banking, ghost cities, and massive loans break the nation apart?
Discover a card with a $0 annual fee & double cash back rewards. The highest paying cash back card has just hit the market. “So the CIA can’t read the tables properly because they don’t…
The Latest: US officials arrive in Beijing for trade talks
BEIJING (AP) — The Latest on China-U.S. trade talks in Beijing (all times local): 11:15 a.m. U.S. officials say a delegation led by Treasury Secretary Steven Mnuchin has arrived in Beijing for talks on a…
Chances for U.S.-China trade breakthrough seen slim in Beijing talks
WASHINGTON/BEIJING (Reuters) – The most likely outcome for tense … Mnuchin and new White House economic adviser Larry Kudlow are seen as likely to favor a package that keeps financial markets on an even keel…
UBS Becomes First Global Bank to Take Advantage of China Opening
UBS Group AG submitted an application to acquire a majority stake in its Chinese securities venture, becoming the first global bank to take advantage of Beijing’s latest commitment to open its financial markets to foreign…
The Latest: Trump tweets ties with China will stay ‘great’
45 a.m. President Donald Trump has said on Twitter that he expects to maintain smooth relations with China. “Our great financial team is in China trying to negotiate a level playing field on trade! I…
China Bank Launches Outlet Completely Run By Robots, Making The Entire Experience ‘Personless’
Artificial intelligence and machine learning are not just random jargons coined by industry experts. They mean something to you, your career and your kid’s future. AI-powered technology has already claimed many jobs that were once…
UPDATE 1-China central bank lends 367.50 bln yuan via MLF in April
(Adds details on lending operations) SHANGHAI, May 2 (Reuters) – China’s central bank said on Wednesday that it lent 367.50 bln yuan ($57.79 bln) to financial institutions via its medium-term lending facility (MLF) in April.…
The Chinese bank branch staffed entirely by robots
Besides a bored-looking security guard at the entrance, there are no human staff present. China Construction Bank (CCB), the country’s second-largest financial institution, has opened what it says is the world’s first robot bank. The…
China Is Weakening Its Currency Before U.S. Trade Talks Begin
China weakened its daily currency fixing by more than traders and analysts had expected before high-ranking U.S. officials arrive in the country to discuss trade issues. The People’s Bank of China cut the reference level…
Lloyds’ private bank tells its wealthy clients that emerging markets are ‘THE asset class to watch’
… watch” according to Lloyds Bank’s private banking division, which advises wealthy clients on how to invest. In a review of its ten-year investment strategy, Lloyds said that emerging markets such as China, India, Indonesia…
