What is shadow banking? Unpacking the risks for China
Pictured here are models of a real estate development in 2005 in Shanghai, as China’s property boom was gathering steam. China Photos | Getty Images News | Getty Images BEIJING …
Economic events
Here’s the inflation breakdown for August 2023, in one chart
Gasoline was priced from $4.29 a gallon at a fuel station in Virginia on Aug. 16, 2023. Anadolu Agency | Anadolu Agency | Getty Images Inflation rose in August on …
Steve Forbes says the Fed’s not going to cut rates soon
Steve Forbes doesn’t expect the Federal Reserve to raise rates in upcoming meetings, but the Forbes Media chairman doesn’t see cuts in the near term either. “I think the Federal …
More drivers want cars under $50,000. How to find a cheap new vehicle
Used car sales are soaring all over the U.S., and companies from Autonation to CarMax, Carvana and Buffalo, New York-based used car start-up ACV Auctions are benefitting. Patrick T. Fallon …
Bank of England bond sales creating a ‘selling gold at the bottom’ moment
People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023. Henry Nicholls | Reuters LONDON — The Bank of England’s …
Germany predicted to be the only major European economy to contract
A metalworker grinding a peace of metal is pictured in a forge in Klitten, Germany. Manufacturing activity has struggled this year. Florian Gaertner | Photothek | Getty Images Germany is …
Biden backs World Bank for expanded role on global stage to counter China
During the G20 leaders’ summit, U.S. President Joe Biden called on G20 leaders to support the World Bank and other multilateral development banks to increase their ability to support low …
China’s property market is going in 2 directions, says ex-PBOC advisor
China’s real estate sector is going in “two directions,” and even though further stimulus is expected, a recovery will not likely happen soon, according to a former advisor to the …
Employers are holding on to workers. That’s costly
Visitors shop at the Apple Flagship Store, which is temporarily open due to an upgrade, in Shanghai, China, July 18, 2023. CFOTO | Future Publishing | Getty Images This report …
Asia’s ultra-rich population posts largest decline in the world: Altrata
Sunrise over Hong Kong’s Sky 100 Observation Deck. Anuchit Kamsongmueang | Moment | Getty Images Asia’s ultra-high-net-worth population declined by about 10.9% last year, marking the largest regional drop in …