Hong Kong’s Hang Seng Index led the pack in Asian trade after China’s stimulus announcement (DALE DE LA REY)Hong Kong and Shanghai stocks rallied Tuesday after China unveiled fresh stimulus measures as the country’s leaders struggle to kickstart growth in the world’s number two economy.After a string of weak data that has fanned worries about the financial health of the country and led to calls for more help to boost growth, the central bank said it would make it easier for lenders and lower a key interest rate.The decision came as traders were already upbeat after the Federal Reserve last…
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Amid Europe’s drive for sustainability and autonomy, Sweden emerges as a rare metals pioneer aiming to challenge China’s dominance. German President Frank-Walter Steinmeier (second from right) and his wife Elke Büdenbender (right) stand in an excavator shovel with King Carl XVI Gustaf (second from left), Queen Silvia of Sweden (left) and Jan Moström, Chairman of the Board of Luossavaara-Kiirunavaara AB (LKAB), during a visit to the LKAB iron ore mine in Kiruna, Sweden, on Sep. 9, 2021. © Getty Images ×In a nutshell Europe needs stable rare-metal supplies for climate goals, geopolitical risk reduction China’s dominance prompts Europe to reassess…
(Bloomberg) — Asian stocks rose after China’s central bank announced stimulus measures in a bid to reach this year’s economic growth target and stem a selloff in the equity market.Most Read from BloombergEquity benchmarks in Hong Kong jumped more than 2% at the open while onshore Chinese stocks also gained. The MSCI Asia Pacific Index rose 0.7%, with Japan benchmarks advancing more than 1% after reopening from a holiday. The yield on China’s 10-year government bond declined to 2% for the first time on record.China will allow brokerages and funds to tap the central bank’s funding to buy stocks, adding…
HOUSTON (Reuters) -U.S. oil producers were scrambling on Monday to evacuate staff from Gulf of Mexico oil production platforms as the second major hurricane in two weeks was predicted to tear through offshore oil producing fields. The U.S. National Hurricane Center said a potential Tropical Cyclone in the Caribbean was expected to rapidly intensify over the gulf’s warm waters and could become a major hurricane with winds of up to 115 miles per hour (185 kph) by Thursday. The storm, which would be called Helene, could hit the U.S. as a category 3 hurricane on the Saffir-Simpson wind scale, bringing…
Pan Gongsheng, governor of the People’s Bank of China, delivers a speech during the 2024 Lujiazui Forum on June 19, 2024 in Shanghai, China.Vcg | Visual China Group | Getty ImagesBEIJING — China will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio, or RRR, by 50 basis points, People’s Bank of China Gov. Pan Gongsheng said during a press conference on Tuesday.Pan, who was speaking to reporters alongside two other financial regulator heads, did not indicate exactly when the central bank would ease the policy but said it would be in…
BTG Pactual‘s Timberland Investment Group has sold 1.3 million carbon removal credits to be derived from its Latin American reforestation and restoration strategy to technology Meta for an undisclosed per unit price.The agreement includes an option to purchase, with options for delivery through 2038, an additional 2.6 million carbon credits derived from land managed by the reforestation strategy.The Reforestation Fund is targeting $1 billion to support projects that include protection and restoration of approximately 135,000ha of previously deforested and degraded land in Uruguay, Chile and Brazil.In June, BTG sold eight million carbon credits from the same vehicle for delivery through…
Statistically, there is an increased risk of failure with private equity ownership. PE portfolio companies are about 10 times as likely to go bankrupt as non-PE-owned companies. Granted, one out of five companies going bankrupt doesn’t portend certain failure, but it is a startling statistic. The rejoinder, of course, is that PE firms gravitate toward companies in distress, a practice that weighs down their success rate. But to understand what private equity is at its worst is a call to action, personally and professionally. We need to monitor the specific and repetitive activities that benefit the operators and no one…
By Ankur Banerjee SINGAPORE (Reuters) -Asian stocks rose on Tuesday to their highest in more than two and half years, boosted by a slew of Chinese stimulus measures while expectations for more U.S. rate cuts kept risk sentiment aloft and the dollar under pressure. In an eagerly awaited press conference, China’s top financial regulators unveiled a slate of measures, saying it would cut bank reserves by 50 basis points while reducing mortgage rates to try to spur sluggish economic growth. The moves sent Chinese stocks higher, with the blue-chip CSI300 Index opening 1% higher, while the broader index was also…
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Takeaway: Undoing years of aimless investing. (This is an excerpt from an article written on Substack by Mark Bunting. You can read Mark’s full bio below). When I was 10 years old, my father bought me 10 shares of Cooper, the sporting goods company, and that sparked my first interest in investing. I’m sure my dad, who was the president of his father’s stock brokerage firm, Alfred Bunting & Company, figured Cooper was a natural choice to get me interested in investing because I played hockey, loved Dave Keon and the Toronto Maple Leafs, and enjoyed following the statistics of the National…