EXCLUSIVE: Bob Lyddon also believes it is very difficult to tell how exposed UK banks are to Chinese counterparts.
FINANCE
Yen treads on intervention zone; kiwi, Aussie dollars hit by China woes
The China gloom saw the Australian and New Zealand dollars … as they have been last year in their rhetoric against defending a weakening yen, with Finance Minister Shunichi Suzuki saying on Tuesday …
Analysis:China trust deficit: crisis spurs shadow banking policy response calls
Chinese fears of a spillover from missed payments on some shadow banking linked trust products and worsening consumer sentiment are expected to hasten a policy response to revive the country’s …
China central bank cuts key rate by most since 2020
China’s central bank unexpectedly reduced a key interest rate by the most since 2020 to bolster an economy that’s facing fresh risks from a worsening property slump. The yuan and bond yields slumped.
US stocks slide amid banking fears, weak China data
US stocks slid on Tuesday as investors fretted over the banking sector and took in data showing another weak month for China’s economy.
Stumbling China adds shadow banking mess to a property crisis
China’s latest rate cuts will do little to soothe growing concerns about contagion from the property sector spilling into the broader economy.
Stocks sink as China woes spark global sell-off: Stock market news today
China’s continued economic woes took center stage globally … as Wall Street analysts signal bullish optimism ahead of next week’s earnings. As Yahoo Finance’s Ines Ferré reports: “We expect a …
China’s economy under ‘significant amount of stress’: Analyst
China’s economic situation takes a turn after the country’s central bank slashes its lending rates and its real estate sector comes under pressure. Rhodium Group Associate Director Charlie Vest joins …
China slashes rates and suspends data on youth unemployment as troubles mount
Chinese officials have cut key interest rates and begun obscuring data as the world’s second-largest economy struggles and threatens to cause global turbulence.
China sends debt squads to tackle overleveraged regions
Beijing is making one of its biggest top-down … Working groups from the central bank, finance ministry and securities watchdog are involved in the debt resolution effort in those provinces …
Analysis: China trust deficit: crisis spurs shadow banking policy response calls
Concerns about the outsized exposure of China’s $3 trillion shadow banking sector, roughly the size of Britain’s economy, to property developers and the wider economy, have grown over the past year as …
Yuan falls to 9-month low after China rate cut, sterling rises after jobs data
Sterling rose on Tuesday after data showed British basic wages grew at a record pace, adding to the Bank of England’s inflation worries, while the yuan sank to a nine-month trough after China’s …
China’s $138 billion ‘shadow bank’ spirals at terrible time for Xi
Founded in 1995 as a lumber business, Zhongzhi Enterprise Group Co. grew to become a financial conglomerate with more than 1 trillion yuan ($138 billi …