DIRS.INFO The most relevant business & tech news

☆ China is showing 'early signs' of economic stabilization, economist says
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is showing 'early signs' of economic stabilization, economist saysBetty Wang of the Australia and New Zealand Banking Group, says, however, that it's still too early to tell if the economy will secure a full recovery by the end of the year.

Persons: Betty Wang, it's Organizations: New Zealand Banking Group Locations: Australia

☆ Sunac, Country Garden debt deals bring respite for China's property sector
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +4 min

HONG KONG, Sept 19 (Reuters) - Chinese developers Sunac (1918.HK) and Country Garden (2007.HK) brought some relief to the crisis-hit property sector by forging debt deals with creditors, but the outlook remained clouded by uncertainty about a recovery in home sales. Shares in Sunac China Holdings surged as much as 14% on Tuesday after creditors approved its $9 billion offshore debt restructuring plan, the first green light of such a debt overhaul by a major Chinese developer. The developments come as Beijing steps up efforts to revive the property sector, which accounts for roughly a quarter of the world's second-largest economy, with a raft of support measures unveiled over the last few weeks. While Sunac is among a string of Chinese developers that have defaulted on their offshore debt obligations since an unprecedented liquidity crisis hit the property sector in 2021, Country Garden has not missed any offshore payments yet. PROPERTY SECTOR OUTLOOKMajor developers in the process of restructuring their debt include China Evergrande Group (3333.HK), whose liquidity crunch was a turning point in the country's real estate crisis.

Persons: Sunac, Gary Ng, ANZ Senior China Economist Betty Wang, It's, Donny Kwok, Xie Yu, Steven Bian, Kevin Huang, Anne Marie Roantree, Sumeet Chatterjee, Lincoln Organizations: HK, Sunac China Holdings, Country Garden, Natixis Corporate, Investment Bank, China Evergrande, ANZ Senior China Economist, Thomson Locations: HONG KONG, Beijing, Hong Kong, Sunac, China, Shanghai

☆ Analysis-China's stubborn savers risk precipitating liquidity trap
▼ + stars: | 2023-08-04 | by ( Winni Zhou | Rae Wee | ) www.reuters.com time to read: +5 min

“Based on Japan’s experience in the 1990s, there is the risk that China is entering a liquidity trap due to the risks of balance-sheet recession,” said Natixis’s chief economist for Asia Pacific Alicia Garcia Herrero. Fan Gang, a prominent economist and former adviser to the central bank, told a forum in June that China faces a liquidity trap but not a Japan-style deflationary morass. Yet about 180 domestic A-share companies say in their stock filings that they have invested in CDs this year. China’s 220 million retail stock investors, equivalent to Brazil’s population and the biggest drivers of daily moves, have kept to the sidelines this year. “I wouldn’t pour money into the stock market any time before I see a clear rising trend,” he said.

Persons: Florence Lo, ”, Asia Pacific Alicia Garcia Herrero, “, Byron Gill, ‘, ” Gill, Betty Wang, Wu, ” Wu, John Organizations: REUTERS, Companies, Asia Pacific, Pacific Opportunities Fund, U.S, Bank, ANZ, Eastroc Beverage, China Merchants Bank, Bank of Ningbo’s Locations: SHANGHAI, SINGAPORE, Japan, China, Bank, Shanghai

Analysts see the same lack of confidence in today's Chinese households and companies that Japan grappled with in the 1990s. But in China's case there is a key difference; there is no deflationary threat yet, nor have banks switched off lending. Fan Gang, a prominent economist and former adviser to the central bank, told a forum in June that China faces a liquidity trap but not a Japan-style deflationary morass. China's policymakers have cut rates and encouraged banks to lend more in efforts to revive economic growth after the pandemic. China's 220 million retail stock investors, equivalent to Brazil's population and the biggest drivers of daily moves, have kept to the sidelines this year.

Persons: Florence Lo, Asia Pacific Alicia Garcia Herrero, Byron Gill, Gill, Betty Wang, Wu, John, Winni Zhou, Rae Wee, Vidya Ranganathan, Shri Navaratnam Organizations: REUTERS, Companies, Asia Pacific, Pacific Opportunities Fund, U.S, Bank, ANZ, Eastroc Beverage, China Merchants Bank, Bank of Ningbo's, Thomson Locations: SHANGHAI, SINGAPORE, Japan, China, Bank, Shanghai, Singapore

☆ Asian shares subdued after US tech falters, dollar and yields hold gains
▼ + stars: | 2023-07-21 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped 0.5%, heading for a weekly loss of 1.8%. Shares of Taiwanese chipmaker TSMC (2330.TW) slumped 3.3%, after the world's largest contract chipmaker flagged a 10% drop in 2023 sales. The U.S. dollar index was little changed at 100.78, after advancing 0.5% overnight, the biggest one-day gain since mid-May. The Australian dollar gave up almost all of its gains made after a strong local jobs data release to hover below 68 cents. Brent crude futures were up 0.8% at $80.27 per barrel and U.S. West Texas Intermediate crude futures rose 0.8% to $76.25.

Persons: BOJ, TSMC, HSI, Wanda, Betty Wang, Stella Qiu, Lincoln Organizations: Netflix, Fed, ECB, Tesla, Treasury, Nasdaq, U.S . Federal Reserve, European Central Bank, Bank of Japan, Japan's Nikkei, HK, ANZ, U.S, Australian, TD Securities, Brent, . West Texas, Thomson Locations: SYDNEY, U.S, Asia, Pacific, Japan, China, Beijing, Europe

☆ Something Navy's CEO is out as Arielle Charnas' company stops producing clothing, closes stores, and explores a sale
▼ + stars: | 2023-06-29 | by ( Katie Warren | ) www.businessinsider.com time to read: +13 min

Its CEO is leaving the company, most employees have either quit or been laid off, and production of new clothing is on hold, several people told Insider. Several people told Insider last year that Charnas was furious with Scanlan for keeping her in the dark about the company's struggles. Arielle Charnas recently said on Instagram that "a lot of changes had to be made" at Something Navy. (The company's founder told Insider that Package Free finally paid them this week after dodging them for a year.) Scanlan's spokesperson told Insider that a sale of Something Navy was on the horizon.

Persons: Charnas, Matt Scanlan, Scanlan, Bradstreet, Arielle Charnas, Monica Schipper, who's, Matt, he's, Darian DiCianno, Charnas hasn't, they'd, Brandon, he'd, Eugene Gologursky, Silas Chou, Jenny Fleiss, Ivory Ella, They're, Betty Wang, cofounding Naadam, Blue, Thakoon's, Laura Cook, Michael Yeager, Elisa Giorgi, Bailey Miller, Scanlan's Organizations: Navy, Associates, Something Navy, company's, Saks Fifth, Hamptons, Naadam, Los, Nordstrom, United, Blue, & $ Locations: Jersey, Charnas, India, Hong Kong, Los Angeles, New, Newport Beach , California, Its New Jersey, stiffing

☆ China makes surprise rate cut as economic recovery loses steam
▼ + stars: | 2023-06-13 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The rate will drop to 1.9% from 2%, according to the People’s Bank of China. The rate cut reveals “growing concerns among policymakers” about the health of China’s recovery, Capital Economics analysts said on Tuesday. “The … rate cut came earlier and sharper than our and market expectations, highlighting the sense of urgency to alleviate economic momentum and business confidence,” said Becky Liu, head of China macro strategy for Standard Chartered Bank. That rate cut also came as a surprise and followed a week of turmoil in global financial markets triggered by the failure of some regional US banks. In the language of China’s policymakers, that implies a bias towards easing monetary policy, said Larry Hu, chief China economist for Macquarie Group.

Persons: ”, Becky Liu, Zhaopeng Xing, Betty Wang, Yi Gang, Larry Hu, “ Governor Yi Organizations: Hong Kong CNN, People’s Bank of China, Capital, Standard Chartered Bank, PMI, ANZ Research, Macquarie Group, “ Locations: Hong Kong, China

☆ Social media is a doubled-edged sword for entrepreneurs like Something Navy's founder Arielle Charnas
▼ + stars: | 2022-12-14 | by ( Alexandra York | Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +5 min

Arielle Charnas founded her blog Something Navy in 2009, which evolved into a clothing brand in 2020.Insider reported that Charnas detached from promoting her brand on social media, among other missteps. Charnas' behavior shows how social media can quickly build and destroy brand loyalty. Insider published a recent article outlining late merchandising payments, meager sales, an employee exodus, and Charnas' detachment from promoting her brand on social media. For example, Charnas didn't acknowledge hiring Betty Wang as company president on social media and has been frequently photographed sporting designer clothing instead of her own products. Charnas' behavior on social media shows the positive and negative impacts the platforms can have on a business, especially when they're vital to an entrepreneur's success.

☆ Arielle Charnas' company, Something Navy, is floundering amid dwindling sales, an employee exodus, and furious suppliers
▼ + stars: | 2022-12-08 | by ( Katie Warren | ) www.businessinsider.com time to read: +36 min

From the outside, it doesn't look as if Charnas' company is in trouble. Mark Sagliocco/Getty Images for Beach MagazineSeveral former employees told Insider they cut ties with Something Navy because they saw signs the company was struggling. Several current and former Something Navy employees told Insider they'd been inundated with emails since the spring from suppliers, freelancers, and models asking where their money was. In one email viewed by Insider, Scanlan told a supplier that cash was tight but promised payment was on the way. The current Something Navy employee said that based on data she'd seen, the retail locations most likely don't turn a profit.

☆ Analysis: Chinese property developers on tenterhooks ahead of Communist Party Congress
▼ + stars: | 2022-10-14 | by ( Clare Jim | ) www.reuters.com time to read: +7 min

HONG KONG, Oct 14 (Reuters) - Chinese real estate developers are delaying their debt restructuring moves until after the upcoming Communist Party Congress, hoping the crucial gathering offers clues on how Beijing plans to stabilise the embattled sector. Smaller peers, which have done bond exchanges to extend the maturities of their debt, are also considering restructuring, the developers told Reuters. China's gigantic real estate debt China's gigantic real estate debtChina's twice-a-decade party congress kicks off on Oct. 16, during which President Xi Jinping is poised to secure a precedent-breaking third leadership term as general secretary. Echoing that apprehension ahead of the party congress, some fund managers and brokers have been told to avoid big share sales, two sources told Reuters. For some stakeholders, the stalling of the debt restructuring ahead of the party congress is frustrating.

Search resuls for: "Betty Wang"

10 mentions found