Despite concerns about household debt in China, the biggest problems still come from the corporates, state-owned enterprises and local governments, a Barclays economist said Thursday. “In terms of financial deleveraging, the PBOC (People’s Bank of China) and the financial regulators have done quite a lot of work in the past year. We have seen a […]
Read moreBitcoin, despite the large amount of interest it has attracted, has not achieved the kind of stability a currency should possess, Allianz Chief Economic Advisor Mohamed El-Erian said, adding that he agrees with the notion that the cryptocurrency is more of a commodity. “A currency serves as a predictable store of value, and serves as […]
Read moreChina is leaving nothing to chance during next week’s visit by U.S. President Donald Trump, and will likely fortify the value of the yuan — a regular target of attack during last year’s campaign for the White House. Trump promised while campaigning that if elected he would name China a “currency manipulator” for artificially depressing […]
Read moreConservative activist Laura Loomer was banned from the ride-sharing services Uber and Lyft on Wednesday after unleashing an anti-Muslim tweetstorm in the wake of the New York City attack on Tuesday that killed eight people, the companies said. Loomer released numerous posts on Twitter about Muslims on Tuesday and Wednesday, accusing passersby in hijabs of […]
Read moreThe U.S. Federal Reserve is on a “beautiful normalization” that balances rising interest rates and the stability of markets and the economy — something the next chairperson, whoever it will be, would not want to disrupt, Allianz Chief Economic Advisor Mohamed El-Erian said Thursday. President Donald Trump is expected to nominate the next Fed chair […]
Read morePresident Donald Trump will commence a five-nation Asia tour on Friday to try to reaffirm American leadership in a region beset by tensions from a nuclear-armed North Korea and an expansionist China. From Nov. 5 to Nov. 14, the 71-year-old leader will stop in Japan, South Korea, China, Vietnam and the Philippines in his first […]
Read moreFacebook CEO Mark Zuckerberg indicated that defending its 2 billion users from fake news, hate speech and other unwanted content may put a serious dent in the company’s profit margins. “I want to be clear about what our priority is,” Zuckerberg said on Wednesday after the company reported third-quarter earnings. “Protecting our community is more […]
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