Evergrande shares plunge as much as 87% as trading resumes after 17 months
Evergrande shares tumbled as much as 87% on the Hong Kong Stock Exchange on Monday, to as low as 22 Hong Kong cents.
Financial News
China’s rare earths dominance makes U.S. supply chains vulnerable, trade representative says
China’s dominance in rare earths makes U.S. supply chains vulnerable, U.S. Trade Representative Katherine Tai told CNBC’s Martin Soong.
Fed Chair Powell calls inflation ‘too high’ and warns that ‘we are prepared to raise rates further’
Federal Chair Jerome Powell called for more vigilance in the fight against inflation, warning that additional interest rate increases could be yet to come.
Container ships are waiting at Asian ports as retailers struggle to shift excess stock
Hopes of a traditional peak season when holiday orders are imported are fading.
Nvidia tops estimates and says sales will jump 170% this quarter, driven by demand for AI chips
Revenue in the second quarter doubled from $6.7 billion a year earlier and increased 88% from the prior period.
China is furious with Japan’s plan to release treated Fukushima water into the ocean
The imminent water release comes more than a decade after Japan was rocked by the second-worst nuclear disaster in history.
China’s central bank trims 1-year rate, but unexpectedly leaves 5-year rate unchanged
Most household and corporate loans in China are based on the PBOC’s one-year loan prime rate, while mortgages are pegged to the five-year rate.
Aldi is getting bigger. Here’s why the no-frills German grocer is looking to the Southern U.S. for growth
The German retailer Aldi announced this week it plans to acquire Winn-Dixie and Harveys Supermarket.
What China’s big earnings say about the consumer
Corporate earnings releases are picking up on a few bright spots for China’s consumer in a competitive market where people are less willing to spend.
Fed officials see ‘upside risks’ to inflation possibly leading to more rate hikes, minutes show
The Federal Reserve on Wednesday released minutes from its July 25-26 policy meeting.