If this week's nudges and diktats on the stock market were not unsettling enough, there is news that the Chinese authorities have, in essence, kidnapped a UK citizen of Chinese origin in Hong Kong because he ran a book store in the city's busiest shopping district that sold books critical of the Communist leadership. … [Read more...] about What ails the Chinese economy?
Four chinese tycoons just transferred 17 billion to trusts
Goldman, which has spent years lobbying for control of its onshore business, won approval this year. Chief Executive Officer David Solomon has pledged to infuse its mainland business with hundreds of millions of dollars in new capital as the bank plans to embark on a hiring spree to double its workforce to 600 and ramp up a wide variety of businesses. … [Read more...] about Wall Street has billions to lose in China from rising strain
Mnuchin has only used $37.5 billion out of a $454 billion fund to backstop central bank emergency lending, though $195 billion has been committed for use. A Main Street lending facility that Congress asked the Federal Reserve to launch to support small and medium-sized companies is still not operational even as businesses lay off workers, shutter and eye bankruptcy. The Paycheck Protection Program for smaller companies has been riddled with glitches, and now needs to be fixed to extend the relief. … [Read more...] about Covid-19: US airlines leave $29 billion aid fund untapped in bet on rebound
Khoury, who works as a project coordinator at the International Organization of Migration (IOM), spends almost all his evenings at the Lebanese Red Cross (LRC) transferring COVID-19 patients to hospitals in addition to fulfilling other required tasks for LRC. … [Read more...] about Feature: Young Lebanese pursues Chinese language course despite heavy work with COVID-19 patients
Mumbai: Equity offerings involving Reliance Industries and its group units have topped the share sale chart across all listed companies globally so far in 2020. According to a study of Bloomberg data and company announcements of all equity offerings, the Mukesh Ambani-controlled conglomerate has mopped up $18.4 billion through this route. The other companies in demand have been US-based money manager Blackrock, in which shares worth $13.3 billion changed hands, and Regeneron Pharmaceuticals, in which stake worth $11 billion was picked up. Other companies whose big chunks of shares have found takers include Singapore Airlines, Brazil’s Petrobras and US-based Southwest Airlines. The highest equity offering in a year was from Saudi Arabia’s oil giant Aramco, which raised about $29.4 billion last December through initial public offering, beating previous record of Alibaba Group Holding’s $25 billion in 2014. Reliance Industries has announced a flurry of share sales as … [Read more...] about At $18.4 billion, RIL tops global share sale chart this year