Construction on a real estate project in Yantai, Shandong province, gets under way on July 8, 2023. Nurphoto | Nurphoto | Getty Images BEIJING — China is changing its tone on the struggling real estate sector, paving the way for policy support. Beijing’s crackdown on the once-hot property market has focused on financial risks of
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Munis were weaker to close out the week, playing catch up to Thursday’s larger U.S. Treasury losses and preparing for a larger new-issue calendar led by billion-dollar issues from the New York Dormitory Authority and triple-A rated Minnesota, along with multiple large deals from Texas school districts. U.S. Treasuries were firmer Friday and equities rallied.
Economists and analysts are increasingly hopeful that the Federal Reserve can avoid pushing the US into a recession, as inflation slows and strong growth persists despite 11 interest rate increases. The Fed this week raised rates by another quarter percentage point to the highest level in 22 years. But a flurry of upbeat data has
Social media platform X — formerly known as Twitter — may soon advance plans to add financial services to its users, hoping to become the American equivalent of the Chinese super-app WeChat. The concept of super-apps isn’t new. Tech giant Tencent, the company behind WeChat, has been refining the model since 2011. Like Twitter, it
Environmental, social, and governance capital programs continue to flourish under increased scrutiny, said one presenter at a recent securities industry event. Climate change may be nothing new, said Trenton J. Allen, CEO of Sustainable Capital Advisors, but the “growing appetite” for suitably focused investments is, and issuers and investors alike can benefit from strategies to
Simon Davis is the co-founder and CEO of Mighty Bear Games, a multiplatform game developer in Southeast Asia creating accessible multiplayer experiences in Web3. Davis has spent almost two decades working in the gaming industry, but he never planned to actually work in this field. Before crypto, he was a professional guitarist who made ends
A KKR logo is displayed on the floor of the New York Stock Exchange (NYSE), August 23, 2018. Brendan McDermid | Reuters Private equity firms should be motivated to hunt for deals despite the challenging interest rate environment as the potential purchase price tends to be more in their favor, according to KKR’s Global Co-Head
Signage outside Intel headquarters in Santa Clara, California, Jan. 30, 2023. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Intel — The chip stock jumped more than 6% after the company posted better-than-expected second-quarter earnings results. The latest quarter marked a return to profitability after two consecutive losing
In true pioneer tech fashion, 20 modernist 3D-printed homes are rising in Desert Hot Springs, California, about 10 miles north of Palm Springs. Three of the four-bedroom residences, which include accessory dwelling units, have recently been listed at $995,000 each. The homes, sited in a 22-acre gated community of hilltop dwellings, are expected to be
A residential complex constructed by Evergrande in Huai’an, Jiangsu, China, on July 20, 2023. Future Publishing | Future Publishing | Getty Images BEIJING — China’s housing ministry has announced plans to make it easier for people to buy property. The news, out late Thursday, indicates how different levels of government are starting to act just
The ongoing challenges faced by publicly-owned mass transit authorities are looming large as federal funding for COVID relief will start drying up in in 2024. Possible solutions to careening over the financial cliffs include raising taxes, raising fares, tapping future casino revenue, and instituting controversial congestion traffic plans. “Just last week we unveiled our financial
A group of companies including the UK coach and train service company Mobico has held detailed talks over launching a cross-Channel train service to rival Eurostar. Other parties involved in the discussions include the Spanish Cosmen industrialist family, which is an investor in Mobico, formerly known as National Express, according to two people with knowledge
The Kyrgyz Republic, a central Asian state bordering China, is reportedly growing its cryptocurrency mining powers with support of the local government. Kyrgyz President Sadyr Japarov has given a nod to building a crypto mining farm at a hydroelectric power plant, Kyrgyzstan’s national news agency Kabar reported on July 27. The government of Kyrgyzstan plans
Munis yields rose Thursday, following and outperforming a U.S. Treasury sell-off on the heels of strong-than-expected economic data. Equities ended down. Thursday’s “economic data offers the latest evidence that the U.S. economy is weathering the fastest rate hikes in a generation without much damage to the major gear-works of the economy,” said Wells Fargo Securities
The latest legal action against Block.one (B1), the creator and original seller of EOS (EOS), could potentially help plaintiffs get higher compensation, according to EOS Network Foundation (ENF) founder and CEO Yves La Rose. On July 25, La Rose officially announced that ENF is preparing a lawsuit against Block.one for its failure to follow through
(Click here to subscribe to the Delivering Alpha newsletter.) The job market may be strong, but the invisible strings that connect workers to their jobs are increasingly weaker. Trends such as “lazy girl jobs” and “quiet quitting” have gone viral in a post-pandemic world where young workers are trading ambition for balance. Actors and writers continue to
A Southwest Airlines aircraft at a gate at AustinBergstrom International Airport (AUS) in Austin, Texas, US, on Thursday, Feb. 16, 2023. Jordan Vonderhaar | Bloomberg | Getty Images Check out the companies making headlines in early morning trading. Southwest Airlines — The carrier slid 6% premarket after reporting a mixed financial update early Thursday. Southwest
Moving to a new home, whether it’s across town or across several state lines, can be an exciting time – but also a budget-busting experience. New homeowners (and apartment dwellers), often want new items in their new space, but can’t afford to spend funds on the cool, new stuff they need or desire. We’re starting
The United States is entering a new economic era as the Federal Reserve hikes its benchmark interest rate. In July 2023, the federal funds effective rate stood above 5% for the first time in four decades. As interest rates climb, economists say financial conditions are headed back to being more normal. related investing news Stocks,
The cost of protecting U.S. infrastructure against climate change is costly — but the cost of doing nothing is higher. That was the message today from Louisiana Gov. John Bel Edwards and other witnesses who testified at a Senate Budget Committee hearing on the fiscal fallout from climate change. Louisiana is one of the states
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