DIRS.INFO The most relevant business & tech news

Logo of China Life Insurance is seen on a door at a branch in Beijing, China, March 24, 2016. REUTERS/Jason Lee/File PhotoHONG KONG, Aug 7 (Reuters) - China Life Insurance (Overseas) Hong Kong has mandated banks for its 10-year subordinated bond offering, according to a preliminary term sheet seen by Reuters on Monday. China Life did not respond to an email from Reuters seeking comment on the deal. The last time China Life tapped the bond market was in March 2019, when it issued 35 billion yuan's worth in China's interbank bond market. Reporting by Georgina Lee in Hong Kong and Scott Murdoch in Sydney; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Lee, HONG KONG, Georgina Lee, Scott Murdoch, Edwina Gibbs Organizations: China Life Insurance, REUTERS, Reuters, P Global, Thomson Locations: Beijing, China, HONG, Hong Kong, Sydney

[1/5] Boards displaying the exchange rate of the Mexican peso against the U.S. dollar are pictured outside exchange houses in Ciudad Juarez, Mexico July 27, 2023. But emergence of the phenomenon known as the "super peso" means those dollars no longer go as far as they did. "The purchasing power of remittances has deteriorated due to peso appreciation," said Carlos Serrano, chief economist at bank BBVA Mexico. "You can see it hitting lower-income families ... in states that bring in most remittances." Georgina Cardenas, 34, said the $1,200 a month she receives from her builder husband in the United States "used to be enough for my two children" and other expenses.

Persons: Jose Luis Gonzalez, Adriana Sanchez, Sanchez, it's, Andres Manuel Lopez, Carlos Serrano, Pablo Lopez Sarabia, Manuel, there's, Veronica, They're, Georgina Cardenas, Lizbeth Diaz, Noe Torres, Dave Graham, Aurora Ellis Organizations: U.S ., REUTERS, BBVA Mexico, Reuters, Tecnologico de Monterrey, Thomson Locations: Ciudad Juarez, Mexico, TLAXCALA, United States, Asia, Tlaxcala, Mexico City, U.S, California

HONG KONG/NEW YORK, July 31 (Reuters) - For all the excitement whipped up in China's markets by the Politburo last week, foreign investors say policymakers' words will have to be matched by substantive action to clean up an ailing property sector before confidence recovers. "The question is what resources they will deploy, because China is still very focused on de-leveraging and preventing financial risks." Absolutely, and urgently," said Qi Wang, the chief investment officer (CIO) of MegaTrust Investment (HK), a boutique China fund manager specializing in domestic Chinese A-shares. Mark Dong, general manager of Minority Asset Management, based in Hong Kong, has reduced his exposure to the property sector. The safest bets in the sector, he said, had come down to state-owned companies such as China Resources Land (1109.HK) and Poly Property (0119.HK).

Persons: Tara Hariharan, Qi Wang, Wang, Mark Dong, Bo Zhuang, Loomis, Weng, Rob Hinchliffe, Hinchliffe, Mei Leong, Xie Yu, Georgina Lee, Shen Yiming, Jason Xue, Ankur Banerjee, Tom Westbrook, Vidya Ranganathan, Simon Cameron, Moore Organizations: HONG KONG, MegaTrust Investment, Asset Management, Loomis Sayles Investments, Eastspring Investments, PineBridge Investments, China Evergrande Group, HK, China Resources, Poly Property, Thomson Locations: HONG, China, Hong Kong, Loomis Sayles Investments Asia, Shanghai, New York, Singapore

☆ UK's FTSE 100 slips on dour earnings; NatWest falls
▼ + stars: | 2023-07-26 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The FTSE 100 index (.FTSE) lost 0.2%, while the more domestically focussed FTSE 250 midcap index (.FTMC) was flat. UK earnings season picked up pace with Lloyds Banking Group(LLOY.L), Britain's biggest mortgage lender, posting a pre-tax first-half profit below analysts' forecast compiled by the bank. The lender fell 2.7%, while the UK banks index (.FTNMX301010) slipped 0.9%. Rolls-Royce (RR.L) soared 19.3%, to hit its highest level in over three years after the aero-engineering company raised its full-year operating profit forecast. Reporting by Shashwat Chauhan in Bengaluru; editing by Eileen Soreng and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Royce, Aston Martin, Alison Rose, Nigel Farage, Georgina Cooper, Aston, Shashwat Chauhan, Eileen Soreng, Sohini Organizations: HY, U.S, Fed, Lloyds, NatWest, NatWest Group, BBC, Lloyds Banking Group, BNY, Equity, Rio Tinto, Royce, Dunhill, Tobacco, Aston Martin Lagonda Global Holdings, U.S . Federal Reserve, Thomson Locations: Rio Tinto, London, Rio, Bengaluru

"The major thing that we see now is onshore-traded Country Garden bonds going down," he said. Country Garden is a giant with thousands of projects in nearly 300 Chinese cities. Li Changjiang, the president of Country Garden Services, sold 3.2 million shares of the company last week, reducing his stake to 0.11% from 0.21%. They also cut its price target to HK$0.9 from HK$2.3 and that of Country Garden Services Holdings to HK$6.7 from HK$22. "Distressed Chinese property developers’ bond restructurings can buy them some room," Fitch Ratings said in a report on Monday.

Persons: Longfor, Wanda, Yao Yu, Morgan Stanley, Morgan, Li Changjiang, Fitch, Jason Xue, Tom Westbrook, Clare Jim, Xie Yu, Georgina Lee, Marc Jones, Kim Coghill, Jamie Freed, Barbara Lewis, Christina Fincher Organizations: HK, Dalian, Garden, Country Garden Services, Garden Holdings, Garden Services Holdings, China, Greenland Holdings, Ocean Group, Thomson Locations: SHANGHAI, SYDNEY, China, Hong Kong, Evergrande, Cayman Islands, Shanghai, Sydney, London

HONG KONG/TAIPEI, July 21 (Reuters) - Investors are putting aside geopolitical tensions to pile in to Taiwan stocks, with foreign inflows the biggest in years, thanks to soaring artificial intelligence and chipmaking stocks. Rather, investors say it's all the more sturdy as the bogged-down conflict deters Chinese action and risks can be managed by keeping positions liquid with one eye on a possibly quick exit. "A potential escalation of events in the Taiwan Strait down the line is less relevant for these investors," he said. "So that makes Taiwan’s AI supply chain very attractive for foreign investors, and we believe their fund inflows will continue to be strong throughout the year." Investors say Taiwan's market is uniquely positioned to benefit because it is exposed to the sector's growth from applications to components, where demand is rebounding.

Persons: Carlos Casanova, Warren Buffett, we've, Frank Benzimra, Hai, Andrew Swan, Goldman Sachs, Clarence Chan, Summer Zhen, Kim Coghill Organizations: Nasdaq, Union Bancaire, Taiwan Semiconductor Manufacturing, Societe Generale ., Accton Technology, Hai Precision Industry, Wistron Corp, Alchip Technologies, Ark Investment Management, Vanguard, PineBridge Investments, Mellon Investment Management, Thomson Locations: HONG KONG, TAIPEI, Taiwan, Asia, Ukraine, Taiwan Strait, China, Taipei, Japan, PineBridge Investments Asia, Alchip, Asia Pacific, Hong Kong

☆ Asia's private credit markets thrive as desperate borrowers find lenders
▼ + stars: | 2023-07-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Private lenders, meanwhile, had "significant liquidity" to deploy for such financings, proving to be a right fit. Besides property developers, borrowers thronging private markets include privately-held companies and start-ups whose private equity issuance has been stymied by broader stock market swings and the deepening discounts of their valuations, known as a 'down round' in the industry. Investment firm Muzinich & Co. recently announced it had closed a $500 million Asia Pacific private debt strategy. Australian superannuation fund UniSuper, which runs a $15 billion private markets portfolio investing in unlisted infrastructure and private equity, is looking to grow its portfolio. "Just given the pipeline of opportunities, we could see ourselves potentially ... (doing) another $3 to $5 billion," said Sandra Lee, UniSuper's head of private markets.

Persons: Bryan Clark, Andrew Tan, Tan, Sandra Lee, UniSuper's, Shane Forster, Benno Klingenberg, Timm, Rae Wee, Georgina Lee, Vidya Ranganathan, Kim Coghill Organizations: Star, JLL, Western, Muzinich, Asia Pacific, Muzinich's Asia Pacific, ICE, Bain Capital, India's, Mahindra Bank, Hong Kong's ADM, BlackRock, Data, Barclays, UBS, Thomson Locations: SINGAPORE, Arizona, Asia, Hong Kong, Singapore

☆ Soccer superstar Cristiano Ronaldo pumps money into luxury watch resale marketplace Chrono24
▼ + stars: | 2023-07-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Cristiano Ronaldo has become an investor in Chrono24, the global luxury watch resale marketplace. International soccer superstar Cristiano Ronaldo has become an investor in Chrono24, CEO Tim Stracke told Insider in an exclusive interview. Luxury watch resale prices have declined for more than a year. The investment comes at a rocky time for the luxury watch resale market, which has seen more than a year of price declines following the tightening of interest rates and the implosion of crypto. Stracke says he and Ronaldo both believe in the long-term prospects of the watch resale market.

Persons: Cristiano Ronaldo, Ronaldo, Tim Stracke, Forbes, Stracke, Chrono24, Bernard Arnault, Al Nassr, – Stracke, Jacob &, Franck Muller Cintree Curvex, Georgina Rodríguez Organizations: Aglae Ventures, Service, International, Manchester United, Portuguese national team, Nike, Rolex, Excel, Rodríguez's Rolex Locations: Chrono24, Wall, Silicon, Saudi, Dubai

☆ Chinese rush to buy Hong Kong insurance, dollars as confidence cracks, yuan weakens
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +5 min

SHANGHAI/HONG KONG, July 6 (Reuters) - Chinese investors are rushing offshore to make dollar deposits and buy Hong Kong insurance in a signal domestic confidence is languishing and that the ailing yuan faces more pressure. New premiums collected on Hong Kong insurance policies leapt a staggering 2,686% to $9.6 billion in the first quarter of 2023. "The burst of insurance buying in Hong Kong reflects a gloomy domestic outlook, and worries about an uncertain future." "Offshore demand for policies denominated in Hong Kong dollars is low – U.S. dollar-denominated policies are more prevalent, to provide access to global asset allocation," said Lawrence Lam, chief executive officer at Prudential Hong Kong. The wealth manager at Noah fears that a sustained rush into Hong Kong insurance risks inviting Beijing's policy tightening.

Persons: Helen Zhao, lurch, Noah Holdings, Lawrence Lam, Hao Hong, Tan Xiaofen, We've, Sami Abouzahr, Samuel Shen, Winni Zhou, Georgina Lee, Summer Zhen, Tom Westbrook, Kim Coghill Organizations: Hong, AIA, HK, Prudential, Manulife, Noah Holdings, Savings, Bank of China, U.S, Prudential Hong Kong, Investment, School of Economics, Management, Beihang University, HSBC, Thomson Locations: SHANGHAI, HONG KONG, Hong Kong, Macau, COVID, U.S, Beijing

☆ Explainer: What's behind the firmer-than-expected yuan fixings?
▼ + stars: | 2023-07-05 | by ( Georgina Lee | ) www.reuters.com time to read: +3 min

The yuan is not a fully-convertible currency and its onshore exchange rate is a managed floating rate. The midpoint is calculated by the China Foreign Exchange Trade System (CFETS), a unit overseen by the People's Bank of China prior to the onshore market opening at 09:30 a.m. (0130 GMT)HOW IS IT CALCULATED? It allows market-makers to discount the closing price, where it's deemed out of step with their expectations. WHY IS THE CCF SEEN AS A MOVE TO DEFEND THE YUAN? The CCF was abandoned in 2020 when the yuan rose sharply and authorities decided to let market forces play more of a role.

Persons: it's, Georgina Lee, Shri Navaratnam Organizations: China Foreign Exchange Trade, People's Bank of, Reuters, CCF, HSBC, Thomson Locations: HONG KONG, People's Bank of China

Hong Kong stocks such as Alibaba (9988.HK) and Tencent (0700.HK) are among the 24 stocks which will be priced and traded in both yuan and the Hong Kong dollar under the Dual Counter Model on the Hong Kong stock exchange (HKEX) from Monday. Offshore yuan deposits in Hong Kong alone are estimated at some 833 billion yuan ($117 billion). "Mainland investors, including mutual fund companies like us, have genuine incentives to trade Hong Kong stocks in yuan," said Ding of ChinaAMC. "There's lot of political uncertainty these days so you may want to hold yuan rather than U.S. dollars, or the Hong Kong dollar, which is pegged to the U.S. ($1 = 7.8217 Hong Kong dollars)Reporting by Samuel Shen and Georgina Lee; Editing by Vidya Ranganathan and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Ding Wenjie, Ding, it's, Dong Chen, YUAN, Sun, Kai Properties, ChinaAMC, David Friedland, Samuel Shen, Georgina Lee, Vidya Ranganathan, Kim Coghill Organizations: HK, Hong Kong, Hong, China, Fund, U.S ., Global Capital Investment, China Asset Management, The U.S, Pictet Wealth Management, AIA, Hang Seng Bank Ltd, Interactive Brokers, Thomson Locations: SHANGHAI, HONG KONG, Hong, Hong Kong, China, Brazil, Russia, Beijing, Moscow, Ukraine, The, Pakistan, Asia, Asia Pacific

☆ Ikea designers used AI to help create a couch that can be packed in an envelope. Your back will thank you.
▼ + stars: | 2023-06-15 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

Using AI, a design lab affiliated with Ikea created a the concept called "Couch in an Envelope." The aptly titled "Couch in an Envelope" can be folded to fit into an envelope and only weighs around 22 pounds. "The couch has barely changed in centuries," according to a video embedded in the project's outline, which explains the concept. The modular nature of the unit allows for at least 30 different constructions, as shown in a diagram on the project's outline. Better for people and the planet," Georgina McDonald, who works in creative and partnerships at Space10, said in the project's outline.

Persons: Georgina McDonald Organizations: Ikea, IKEA Locations: Space10

For some, the answer to exuberant markets lies in the ample cash still sloshing around the financial system. Total global liquidity, a measure of cash and credit in the world economy, has risen to almost $170 trillion in June, Crossborder calculates, from $158 trillion in October. Central banks have added a net $1.7 trillion into money markets since November, it also estimates, a move that correlates with a risk-taking trend. But an alternative scenario is that U.S. money market funds, stuffed with cash after depositors fled regional banks in March, buy enough newly issued Treasuries to keep rates stable. "Liquidity is not a force that reverberates immediately into financial markets," said JPMorgan global market strategist Nikolaos Panigirtzoglou.

Persons: Michael Howell, Crossborder, Richard Clarida, Georgina Taylor, Ken Taubes, reverberates, Nikolaos Panigirtzoglou, Morgan Stanley, Luca Paolini, Paolini, Naomi Rovnick, Harry Robertson, Dhara Ranasinghe, Kirsten Donovan Organizations: U.S . Treasury, Federal Reserve, European Central Bank, Crossborder Capital, U.S, Reuters, BNP, JPMorgan, Apple, Thomson Locations: Japan, U.S

☆ Explainer: How Hong Kong plans to test its digital dollar in $229 bln mortgage market?
▼ + stars: | 2023-06-06 | by ( Georgina Lee | ) www.reuters.com time to read: +3 min

HONG KONG, June 6 (Reuters) - Hong Kong 's central bank plans to test the use of its digital currency under a pilot project in its HK$1.8 trillion ($229 billion) mortgage market, with an aim to slash a month-long loan approval process by half, according to the pilot participants. Here's a look at how the digital currency, e-HK dollar (e-HKD), can be potentially used in the mortgage business:WHAT IS THE E-HKD PILOT PROGRAMME? The Hong Kong Monetary Authority (HKMA) kicked off the e-HKD pilot programme in May under which 16 firms were selected to examine the digital currency's use across 14 projects. The pilot project will look at potentially giving e-HKD loans to homebuyers in an e-wallet, both online and offline, the pilot participants said. Currently information on the title deed is first collected from the customer and then checked against a separate property title deed register.

Persons: Ripple, Fubon, Georgina Lee, Himani Sarkar Organizations: HK, Hong, Hong Kong Monetary Authority, Fubon Bank, Thomson Locations: HONG KONG, Hong Kong

☆ Analysis: Struggling China local governments find a fundraising loophole, lifeline in "pearl bonds"
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +5 min

SHANGHAI/HONG KONG, May 31 (Reuters) - China's cash-strapped local governments have suddenly rushed to an unusual corner of the debt market in Shanghai where ambiguous rules offer ways to skirt restrictions on onshore borrowing. LGFVs accounted for about two-thirds of the issuers and 60% of the debt sold this year nation-wide, according to Reuters' calculations. Among all the newly-issued FTZ bonds this year, 55, or two-thirds of all 82 issuers, were LGFVs, according to Reuters' calculations. The "pearl" or free trade zone (FTZ) bonds have been around since 2016 but are only now becoming popular as tighter central government supervision on LGFV debts starts to bite. AMBIGUOUS POSITIONING"Pearl bonds" differ from other offshore bonds as trades are cleared by the state-owned China Central Depository & Clearing Co, rather than a global clearing house.

Persons: Shi Xiaoshan, Fitch, Royston Quek, Tim Fang, Pearl, Zhang Hong, Georgina Lee, Tom Westbrook, Kim Coghill Organizations: U.S, Haitong International Securities, China Central Depository, Industrial, Group, Credit Agricole CIB, Shanghai Pudong Development Bank, Bank of Communications, Pudong New, Financial, Reform Commission, Reuters, The, Administration of Foreign Exchange, Shanghai, Thomson Locations: SHANGHAI, HONG KONG, Shanghai, Beijing, U.S . Federal, Hong Kong, China, Zhejiang, Pudong, SINGAPORE

☆ Analysis: China's small steps on offshore use of yuan are starting to add up
▼ + stars: | 2023-04-27 | by ( Tom Westbrook | ) www.reuters.com time to read: +5 min

SINGAPORE, April 27 (Reuters) - China's yuan currency is slowly but surely being adopted for more international payments, which analysts say could lay foundations for a trade system running parallel to the dominant U.S. dollar. True global yuan adoption is unlikely, given expectations that Beijing will want to keep a tight grip on the currency. "Their cooperation could draw other countries to renminbi payments over time and cumulatively, this group could lift the renminbi at the expense of the dollar," he said. "This kind of renminbi internationalisation may achieve Beijing's goals, including reducing China’s exposure to exchange rate fluctuations and mitigating China’s vulnerabilities to U.S. financial sanctions." "Therefore, if exporters want to use yuan to settle trades, they must persuade foreign importers to pay in yuan, which often takes a long time."

☆ Quantum of the Seas cruise ship passenger disappears overboard during trip from Australia to Hawaii
▼ + stars: | 2023-04-26 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —The US Coast Guard has so far found no sign of an Australian passenger believed to have fallen overboard a cruise ship traveling from Brisbane to Hawaii. In statement, the coast guard said it had received a report from the Quantum of the Seas cruise ship late night Tuesday, of a man overboard some 500 miles (805 kilometers) south of Kailua Kona, Big Island. A US Coast Guard Hercules helicopter conducted an aerial search of the area for six hours on Wednesday and it will resume the search at first light on Thursday, the coast guard said. “While on its trans-pacific sailing, a guest onboard Quantum of the Seas went overboard,” the company said in a statement, according to CNN affiliate Nine News. The vessel made its maiden voyage in 2014 from Southampton to New York, and was at the time branded as the “world’s smartest cruise ship” with robot waiters and features skydiving on deck.

REUTERS/Dado RuvicLONDON, April 19 (Reuters) - Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, creating a risk their business will become concentrated in smaller financial institutions. Mainstream banks have become increasingly wary of crypto clients following a series of high-profile collapses, including the bankruptcy of major exchange FTX in November last year, and a lack of regulation. "Crypto and Web3 start-ups are telling us they simply cannot get a business bank account," said Marcus Foster, head of crypto policy at Coadec, a body representing UK start-ups. A spokesperson for ING said the bank does not "target or focus actively on crypto firms" so its exposure is "very limited." But for smaller crypto start-ups, securing a banking partner could be more difficult, said Ricardo Mico, the U.S. CEO of Banxa (BNXA.V), a payment and compliance infrastructure provider for crypto.

☆ CME debuts offshore yuan options to tap rising trading demand
▼ + stars: | 2023-04-02 | by ( Georgina Lee | ) www.reuters.com time to read: +2 min

HONG KONG, April 3 (Reuters) - Chicago's CME Group (CME.O) opened options trading for Chinese yuan futures on Monday, as it looks to deepen a market that investors use for betting or hedging against moves in China's currency. Hong Kong has offered similar exchange-traded options since 2017, though bringing the product to CME - the world's biggest derivatives exchange - may be a step toward competing with the banks that dominate options by selling directly to customers. "We hope to see liquidity develop there that's comparable to the over-the-counter market," said Tim Brooks, London-based head of FX options at Optiver, which will deal in the new CME derivatives. The CME options have a range of expiry dates from weekly, to monthly or a year and are based on futures contracts with a notional amount of $100,000. CME is a much smaller yuan-trading hub than Hong Kong.

☆ Investors ride out China uncertainty in convertible bonds
▼ + stars: | 2023-03-31 | by ( Georgina Lee | ) www.reuters.com time to read: +3 min

Funds that invest in Asian convertible bonds attracted inflows of $118.1 million in January and February, data from Morningstar shows, bucking the overall outflows recorded for the more than 350 convertible bond funds it tracks globally. Convertible bonds are hybrid securities with most, like a regular bond, paying a coupon. "Some Asian convertible bonds are attractive as they offer investors comparable or better yields for a shorter duration than straight bonds, as they come with an inexpensive equity option," said Girish Kumarguru, portfolio manager at alterative asset manager, China Everbright Assets Management (0165.HK). Compared to the 6% yield paid by its regular bond, convertible bond investors get less, with current pricing implying a yield of around 2.5%. "Measures to boost consumption in China should be favourable to Asian convertible bonds as there are numerous consumer-related issuers in this region," said Skander Chabbi, head of global convertible team at BNP Paribas Asset Management based in Paris.

Operating profit in the Swedish group's fiscal first quarter was 725 million Swedish crowns ($69.73 million) against a profit of 458 million crowns a year earlier. H&M's operating profit margin was 1.3%, up from 0.9% a year earlier. Helmersson said the company expects a gross margin recovery over the year and is making progress towards its goal of a 10% operating margin next year. Analysts at Credit Suisse said it would be "very challenging" for H&M to return to a 10% margin in 2024. H&M said net sales for March were expected to increase by 4% in local currencies compared with the corresponding period last year.

The biggest cryptocurrency rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central banks would slow the pace of interest rate hikes. Top central banks, faced with the risk of a fast-moving loss of confidence in the stability of the financial system, moved on Sunday to bolster the flow of cash around the world. Other market players predicted that bitcoin would benefit from central bank efforts to bolster liquidity in the global financial system. It rose to a record of $69,000 in November 2021 after central banks and governments launched unprecedented monetary and fiscal stimulus measures. Reporting by Tom Wilson in London and Georgina Lee in Hong Kong; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Bitcoin near 9-month high as bank turmoil sparks rally
▼ + stars: | 2023-03-20 | by ( Georgina Lee | ) www.reuters.com time to read: +1 min

HONG KONG, March 20 (Reuters) - Bitcoin hovered near nine-month highs on Monday, and has closed out its best week in four years as turmoil in traditional banking drives some investors to turn to digital assets. "The momentum is all driven by liquidity, as bitcoin is an alternative liquidity vehicle," said Markus Thielson, head of research and strategy at digital asset financial services firm Matrixport based in Singapore. He expects bitcoin can hit $45,000 by year's end, with liquidity from central banks finding its way into crypto assets, much as it did during 2021, when bitcoin scaled record highs. The U.S. Federal Reserve on Sunday said it and other big central banks would deepen liquidity by increasing the frequency of dollar supply operations into financial markets. Ether, the second-biggest cryptocurrency, rose to a seven-month high of $1,846.50 on Sunday and was last at $1,768.

☆ SIGN UP NOW — For a Better Future: Bridging Culture, Business, and Climate
▼ + stars: | 2023-03-17 | by ( Business Insider | ) www.businessinsider.com time to read: +2 min

Today's business leaders are embracing circularity to better engage in sustainability and climate action. Leaders in climate justice advocacy, business, and fashion will discuss the future of sustainable practices inside and outside the business world. On April 18, 2023, Insider is hosting "For a Better Future: Bridging Culture, Business, and Climate," a free virtual event at noon ET featuring speakers from Deloitte and Junk Kouture. Insider's virtual event, "For a Better Future: Bridging Culture, Business, and Climate," presented by Deloitte, takes place on Tuesday, April 18, 2023, at noon ET. This multi-session virtual conference will focus on how empowerment and circularity inspire climate action beyond the world of business.

☆ SVB collapse could add to China stock investors' anxiety
▼ + stars: | 2023-03-12 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

SHANGHAI, March 12 (Reuters) - China stock investors, already disillusioned by Beijing's lower-than-expected economic growth target for the year, will be further disheartened by the shock collapse of U.S. lender SVB Financial Group, market participants said. The market mood could be damped further following Friday's sudden collapse of start-up focused lender SVB (SIVB.O), which stirred heated discussion over the weekend in China about its fallout. But many Chinese tech start-ups, especially those with dollar funding, have opened U.S. accounts at SVB. He is cautious about tech stocks that could be impacted by US-China frictions. Still, domestic A-shares will likely outperform offshore China stocks, which are more vulnerable to potential spillover from the SVB collapse, analysts say.

Search resuls for: "Georgina"

25 mentions found