Financial & Economic News
China’s consumer price inflation slowed to its weakest pace in almost a year in August
China’s consumer price inflation slowed to its weakest pace in almost a year in August, although an encouraging moderation in producer price deflation added to growing evidence of a steadying economy. The CPI climbed 1.3% […]
Bundesbank official addresses fintech regulation
Disruptive financial technologies should receive the same regulatory treatment as banks, says Dirk Schrade of Deutsche Bundesbank. “I personally think that, as central banks, we should not be the driver of innovation,” he said. Risk.net […]
PBOC supports integrated financial services
China is committed to pressing ahead with the development of integrated financial services, said People’s Bank of China Deputy Governor Fan Yifei. The shift to integrated financial services is essential to make China’s financial system […]
BRICS bank, World Bank to co-finance projects
The presidents of the World Bank Group and the New Development Bank, commonly known as the BRICS bank, agreed to strengthen cooperation in meeting the world’s infrastructure needs. They said they will work together to […]
US wholesale sales plunge; inventory shows no growth
Wholesale-inventory investment posted its sharpest fall in six months for July, while inventory was flat, the US Commerce Department said. Despite reduced wholesale-level spending, some economists said inventory is likely dragging on the economy this […]
EU-IMF debt dispute damaging Greece
Constant disagreements between the EU and the International Monetary Fund over Greece’s debt are blocking the country’s economic recovery, Greek Prime Minister Alexis Tsipras said. The EU and the IMF are at odds over how […]
Greece has assured Brussels it will fulfill all of 15 actions from its first bailout review
Although it’s only implemented two out of the 15 actions from its first bailout review, Greece has assured Brussels it will fulfill all of them by the end of September to pave the way for […]
Chinese exec accused of gaming aluminum market
China Zhongwang Holdings founder Liu Zhongtian has been accused by US trade group Aluminum Extruders Council of stockpiling $2 billion in aluminum — 6% of the world’s inventory — in Mexico to game the market. […]
Auto sales in China soar during August
Automobile deliveries in China increased 26% Y/Y to 1.8M units in August, according to the China Passenger Car Association. The rate of sales growth matched the pace from July. SUV and crossover sales rose 44% […]