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Day: April 24, 2018

Treasury Secretary Mnuchin to visit China in ‘a few days,’ Trump says

U.S. Treasury Secretary Steven Mnuchin is headed to China in “a few days” to negotiate on trade, President Donald Trump said Tuesday. A trip to the Asian country was “under consideration,” Mnuchin said Saturday during a press conference. “China welcomes this,” the country’s Ministry of Commerce responded, in a statement. Trade tensions between the world’s …

Treasury Secretary Mnuchin to visit China in ‘a few days,’ Trump saysRead More

The only way to buy property in Shanghai these days is to win the lottery

These days in Shanghai it seems getting a chance to buy property is as close as it gets to winning the lottery. Developers of high-priced Shanghai residential projects have been overwhelmed by deep-pocketed prospective buyers as local government price controls turn the homes into bargains. “Shanghai hasn’t seen new upscale home supply for several months,” …

The only way to buy property in Shanghai these days is to win the lotteryRead More

Consumer confidence rebounds in April after declining in March

An index of U.S. consumer attitudes increased in April, recovering from a fall in March. The Conference Board’s measure of consumer confidence increased to 128.7 this month, up from 127 in March. The April reading beat a forecast from Reuters analysts, who expected the index to slip further to 126. Consumer confidence fell in March, …

Consumer confidence rebounds in April after declining in MarchRead More

Ukraine’s parliament blocks bank reform

Vitaly Vavryschuk, head of financial stability at the National Bank of Ukraine Ukraine’s parliament has dealt a blow to banking sector reform efforts by striking down a draft law designed to tackle corruption and weak governance at the country’s state-owned lenders. The IMF-backed bill, which had been in the works for more than 18 months, mandated the …

Ukraine’s parliament blocks bank reformRead More

UK bank’s app down as it tries to fix problems that locked customers out of their accounts

Britain’s TSB bank, owned by Spain’s Banco Sabadell, took down its mobile app and online services on Tuesday in an attempt to fix technical problems which have locked customers out of their accounts. The bank said about 402 customers on Sunday were able to see data that they would not usually see online, often of …

UK bank’s app down as it tries to fix problems that locked customers out of their accountsRead More

UK government borrowing hits its lowest level in more than a decade

The U.K. budget deficit has shrunk to its smallest level in more than 10 years. The shortfall between how much Prime Minister Theresa May’s government spent and how much it earned from taxes in the last financial year has come in below £42.6 billion ($59.5 bn). The Office for National Statistics (ONS) said the figure …

UK government borrowing hits its lowest level in more than a decadeRead More

Chinese Uber competitor Didi Chuxing reportedly in talks to launch $80 billion IPO

Chinese ride-hailing giant Didi Chuxing is holding talks about an initial public offering (IPO), according to a report. Didi Chuxing was last valued at more than $50 billion in December, after raising $4 billion from investors including Japanese conglomerate SoftBank. It now wants to reach a valuation of between $70 and $80 billion through an …

Chinese Uber competitor Didi Chuxing reportedly in talks to launch $80 billion IPORead More

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