Asian markets should get the week off to a blistering start on Monday, propelled higher by Wall Street’s powerful rally on Friday that saw the Nasdaq rise more than 2% for its best day since…
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China’s Singles Day festival wraps up with $156B in estimated sales, Alibaba and JD.com reporting growth amid low expectations
Workers at an e-commerce logistics industrial park sort parcels during the Singles Day event in Lianyungang, China this week. Costfoto/NurPhoto via Getty Images China’s largest e-commerce player Alibaba Group said it recorded year-on-year growth over…
China’s Middle East Clout Has Limits
Asian country’s economic influence won’t grow endlessly as its overseas-investment and energy-demand growth slow down.
China’s top financial regulator stresses bottom line of no systemic financial risks to be held after key meeting
The National Financial Regulatory Administration (NFRA) stressed on Saturday that it will comprehensively strengthen financial regulations and effectively forestall and defuse financial risks, with …
Beijing’s data and spy laws threaten to spur decoupling with Europe, says business group
Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your … the decoupling that we all want to avoid,” Santos said in an interview in Beijing. Foreign chambers of…
China’s new financial watchdog gets teeth to take on fintech risks
China has put risk control and regulation of emerging industries front and centre of responsibilities for its new financial regulator as fintech becomes a bigger player in the economy.
Yellen says ransomware attack on China’s biggest bank minimally disrupted Treasury market trades
Real-time index price for TSX 60 VIX Index (VIXI), along with buy or sell indicators, analysis, charts, historical performance, news and more
China’s largest bank hit by ransomware attack
ICBC, the largest bank in China, suffered a devastating ransomware attack which disrupted its financial services (FS) systems, with a knock-on effect of affecting US Treasury markets, and sending ripples across the global financial world.…
The power of the West’s interdependence with China
America’s relationship with China involves massive tensions between economics, which act to bring the two countries ever closer together, and geopolitics, which is driving them ever further apart. Unusually,
Brazen ransomware attack on US unit of Chinese banking giant has financial sector on alert
A ransomware attack on a US unit of the powerful Industrial and Commercial Bank of China that may have contributed to a brief market sell-off on Thursday was a significant escalation for cybercriminals that underscored how…
The World’s Largest Bank Was Just Hit by a Ransomware Attack. Experts Say These Hacks Will Keep Happening
Sources told Bloomberg that ICBC Financial Services, a U.S. subsidiary of Industrial and Commercial Bank of China, relied on the offline system to process trades of U.S. Treasuries after it was hit by a ransomware…
Wall Street and Beijing fight fallout of ransomware attack on China’s biggest bank
The attack prevented ICBC FS from settling Treasury trades on behalf of other market participants, according to traders and banks. Hedge funds and asset managers rerouted trades because of the …
China’s latest stimulus effort unintentionally creates chaos in its financial markets as short-term rates hit 50%
China’s recent sale of sovereign bonds has created a massive liquidity crunch, forcing some banks to borrow at astronomical costs.
