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Search resuls for: "Rebecca F"


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☆ China Suspends Deloitte’s Beijing Unit and Fines It
  + stars: | 2023-03-17 | by ( Rebecca Feng | ) www.wsj.com   time to read: 1 min
Deloitte Hua Yong says it employs more than 20,000 professionals across 30 cities in China. China’s Finance Ministry has suspended the operations of Deloitte’s Beijing office for three months, citing “serious audit deficiencies” in the firm’s work with a big state-owned asset manager. The move followed an investigation into its audits of China Huarong Asset Management Co., a firm which was bailed out in late 2021. The Finance Ministry said that Deloitte Hua Yong, the Chinese name of the auditor’s local affiliate, didn’t assess the true value of China Huarong’s assets or provide proper audit opinions on unusual transactions even after identifying them.
☆ China’s M&A Star Told His Employees to Be Bold—Then He Disappeared
  + stars: | 2023-03-17 | by ( Jing Yang | Rebecca Feng | ) www.wsj.com   time to read: 1 min
Fan Bao set out to build the JPMorgan of China, successfully straddling the divide between China and the West. In mid-January, star Chinese investment banker Fan Bao , architect of the deals that created some of China’s most dominant technology companies, appeared at his bank’s annual party in Beijing. He brought along his children, who played instruments and performed a rendition of the Coldplay hit “Yellow.” He exhorted the hundreds of staffers in attendance to “Go Forward Boldly.”A few weeks later, he disappeared.
☆ Getting Money Out of SVB Was Hard—For Chinese Customers, It Was Harder
  + stars: | 2023-03-16 | by ( Jing Yang | Rebecca Feng | ) www.wsj.com   time to read: 1 min
The sudden collapse of Silicon Valley Bank sparked acute anxiety among startups around the world. It was particularly problematic for firms in China that had put all their eggs in one basket after being courted by the California-based lender earlier on. Even after the Federal Deposit Insurance Corp. stepped in to backstop all of Silicon Valley Bank’s deposits, some Chinese startups, venture-capital and private-equity firms ran into hurdles trying to move their money out of the failed lender. Many had multiple accounts with SVB , which was the only U.S. bank some Chinese customers used for their dollar deposits and transactions.
☆ SVB’s Collapse Hits the Chinese Startups It Once Wooed
  + stars: | 2023-03-16 | by ( Jing Yang | Rebecca Feng | ) www.wsj.com   time to read: 1 min
The sudden collapse of Silicon Valley Bank sparked acute anxiety among startups around the world. It was particularly problematic for firms in China that had put all their eggs in one basket after being courted by the California-based lender earlier on. Even after the Federal Deposit Insurance Corp. stepped in to backstop all of Silicon Valley Bank’s deposits, some Chinese startups, venture-capital and private-equity firms ran into hurdles trying to move their money out of the failed lender. Many had multiple accounts with SVB , which was the only U.S. bank some Chinese customers used for their dollar deposits and transactions.
☆ Getting Money Out of SVB Was Hard—for Chinese Customers, It Was Harder
  + stars: | 2023-03-16 | by ( Jing Yang | Rebecca Feng | ) www.wsj.com   time to read: 1 min
The sudden collapse of Silicon Valley Bank sparked acute anxiety among startups around the world. It was particularly problematic for firms in China that had put all their eggs in one basket after being courted by the California-based lender earlier on. Even after the Federal Deposit Insurance Corp. stepped in to backstop all of Silicon Valley Bank’s deposits, some Chinese startups, venture-capital and private-equity firms ran into hurdles trying to move their money out of the failed lender. Many had multiple accounts with SVB , which was the only U.S. bank some Chinese customers used for their dollar deposits and transactions.
☆ U.S. Stocks Close Higher After Inflation Data
  + stars: | 2023-03-14 | by ( Matt Grossman | Caitlin Mccabe | Rebecca Feng | ) www.wsj.com   time to read: 1 min
Bank stocks climbed and Treasury yields rose Tuesday, as some traders anticipated that financial-sector distress could remain contained and leave the Federal Reserve free to focus on tackling inflation. Trading steadied compared with Monday’s stormy session, which brought a deep rout for bank stocks and a rally for government bonds. Over the past week, the collapse of Silicon Valley Bank and the shutdowns of Signature Bank and Silvergate Capital heaped new fears of financial strain on top of investors’ yearlong preoccupation with inflation.
☆ Chinese Developer Is Preparing to Buy Land Again After Painful Slowdown
  + stars: | 2023-02-24 | by ( Rebecca Feng | Cao Li | ) www.wsj.com   time to read: 1 min
Chinese property developer Country Garden Holdings Co. is planning to buy residential land in local government auctions for the first time in more than a year, a further sign that the downturn in the country’s housing market is easing. The company, one of the largest real-estate developers in China by contracted sales, was hit by a widespread slump in the sector last year that was marked by home sales declines, falling prices and a wave of international bond defaults among its peers.
☆ After Painful Slowdown, a Big Chinese Developer Is Preparing to Buy Land Again
  + stars: | 2023-02-24 | by ( Rebecca Feng | Cao Li | ) www.wsj.com   time to read: 1 min
Chinese property developer Country Garden Holdings Co. is planning to buy residential land in local government auctions for the first time in more than a year, a further sign that the downturn in the country’s housing market is easing. The company, one of the largest real-estate developers in China by contracted sales, was hit by a widespread slump in the sector last year that was marked by home sales declines, falling prices and a wave of international bond defaults among its peers.
☆ Premarket stocks: How oil and gas companies think about their shareholders
  + stars: | 2023-02-21 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +10 min
Two days later, a report found that the soaring energy prices could push 141 million people worldwide into extreme poverty. High prices have swelled profits for energy companies, leaving them flush with cash. Commitment to shareholders has certainly helped bolster stock prices — the S&P 500 ended 2022 down nearly 20%, while the energy sector grew by about 60%. And how do companies navigate appeasing shareholders who want immediate profit while also thinking about ways to invest in sustainable energy? GDP, inflation and retail earnings: What investors are watching this week▸ Investors have a busy week of new data readings ahead of them.
☆ China’s State-Owned Property Developers Shun Private-Sector Deals
  + stars: | 2023-02-20 | by ( Rebecca Feng | Cao Li | ) www.wsj.com   time to read: 1 min
The property-market slowdown has hit state-owned developers, though not as hard as their private-sector counterparts. When China’s private real-estate developers started sliding into distress more than a year ago, the government encouraged state-owned property companies to step in and take over their ailing peers’ projects and assets. That call has gone largely unheeded—a big reason why the country’s housing market remains in the doldrums.
☆ China’s State-Owned Firms Are Sitting Out the Property Rescue
  + stars: | 2023-02-20 | by ( Rebecca Feng | Cao Li | ) www.wsj.com   time to read: 1 min
The property-market slowdown has hit state-owned developers, though not as hard as their private-sector counterparts. When China’s private real-estate developers started sliding into distress more than a year ago, the government encouraged state-owned property companies to step in and take over their ailing peers’ projects and assets. That call has gone largely unheeded—a big reason why the country’s housing market remains in the doldrums.
☆ China’s Securities Regulator Releases Long-Awaited Rules on Overseas Listings
  + stars: | 2023-02-17 | by ( Jing Yang | Rebecca Feng | ) www.wsj.com   time to read: 1 min
New rules published by the China Securities Regulatory Commission require all mainland Chinese companies planning foreign share sales to inform the regulator beforehand. China’s securities regulator has released its long-awaited rules on companies’ overseas listings, taking a concrete step to move past a long regulatory assault that upended some of the country’s biggest internet companies. The move follows repeated calls from the country’s top leadership to normalize the policy environment, part of an attempt by the government to shift focus back toward economic growth after a strict zero-Covid policy and a series of regulatory moves pushed down valuations in the technology and internet sectors and shook investor confidence.
☆ China Renaissance Seeks to Assure Clients After CEO’s Disappearance
  + stars: | 2023-02-17 | by ( Rebecca Feng | ) www.wsj.com   time to read: 1 min
China Renaissance Holdings Ltd. on Friday asked its employees to reassure clients and quash speculation after the disappearance of Fan Bao—a prominent banker who has been synonymous with the Chinese investment bank. Mr. Bao, a Wall Street veteran who co-founded China Renaissance in 2005, built the firm into a powerhouse in China’s technology sector, handling mergers and acquisitions, private placements and public listings of many companies. The firm said on Thursday that Mr. Bao, who is its chairman and chief executive, has been unreachable, and that it didn’t know of any business reason why.
☆ Evergrande Probe Finds Management Missteps and Convoluted Financing Arrangements
  + stars: | 2023-02-16 | by ( Cao Li | Rebecca Feng | ) www.wsj.com   time to read: 1 min
China Evergrande Group’s weak controls and poor management decisions were to blame for a funding arrangement that ultimately led banks to seize $2 billion of deposits held by a subsidiary, an independent investigation found. The property giant used deposits from six units of Evergrande Property Services Group Ltd., a separate Hong Kong-listed company, to borrow money between late December 2020 and early August 2021, when the developer was in need of capital. It was part of a complicated financing arrangement that involved dozens of third-party companies and loans from multiple banks.
☆ Blackstone’s Big New Idea Leaves It Bruised
  + stars: | 2023-02-12 | by ( Miriam Gottfried | Peter Grant | Rebecca Feng | ) www.wsj.com   time to read: 1 min
Blackstone Inc. became one of the world’s most powerful financial firms by investing on behalf of large institutional investors. To boost growth, it decided to offer its products to individuals. Its new fund was a huge success, becoming the biggest Blackstone had ever raised. Then it became a crisis.
☆ China’s Property Bust Compounds Economic Pain
  + stars: | 2023-01-19 | by ( Rebecca Feng | Cao Li | ) www.wsj.com   time to read: 1 min
Home prices in China have been declining sequentially on average across 70 major cities that the government tracks. HONG KONG—China’s housing market flipped from being a growth driver to an economic drag in 2022, with sales slumping, prices falling and widespread job losses. The prognosis for this year isn’t much better, compounding Beijing’s efforts to get its economy back on firmer footing. Sales of new residential properties in the country tumbled 28% last year to the equivalent of $1.7 trillion in value terms, a five-year low. By floor area, they dropped to their lowest level in nearly a decade, after a wave of real-estate developer debt defaults, delays in construction of unfinished apartments and Covid-19 lockdowns dampened consumer confidence.
☆ Foreign Investors Are Leery of China Bets, Despite Rebound Expectations
  + stars: | 2023-01-09 | by ( Rebecca Feng | ) www.wsj.com   time to read: 1 min
Market strategists say the stars are aligned in 2023 for Chinese assets to stage a comeback—but a return of foreign capital may take longer. Foreign investors have pulled more than $100 billion out of China’s bond market since February, according to two major Chinese clearinghouses. They have also dramatically slowed their investments in the country’s stock market. Foreign institutions bought a net $13 billion worth of yuan-denominated shares last year via a Hong Kong stock-trading link, down sharply from $63 billion in 2021.
☆ Workers haven't given up on getting their 'dream job' — but what they're looking for has changed
  + stars: | 2023-01-01 | by ( Shana Lebowitz | ) www.businessinsider.com   time to read: +5 min
Some dislike the term "dream job." While younger generations are starting to think differently, people continue to beat themselves up over not having landed their dream job soon enough. Dreaming about workThe very term "dream job" is divisive. "I don't dream of labor," an allusion to the term "dream job," is a common refrain on TikTok. "When I think about dream job, I am mostly thinking about the money that it will pay to support my dream life," a chartered financial analyst wrote.
☆ Two experts break down potential market opportunities in 2023
  + stars: | 2022-12-30 | 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 EmailTwo experts break down potential market opportunities in 2023Rebecca Felton, senior market strategist at Riverfront Investment Group, and Ann Berry, Threadneedle Ventures founder, join CNBC's 'Squawk Box' to break down their market outlooks ahead of the new year.
☆ Arkansas boy buried under floorboards allegedly died after mother's boyfriend drowned him in toilet bowl
  + stars: | 2022-12-22 | by ( Julianne Mcshane | ) www.nbcnews.com   time to read: +8 min
Blu's paternal grandmother, Karen Rolland, 57, told NBC News the boy would have been turning six last week. The body of Blu Rolland was discovered on what would have been his fifth birthday in his house in Moro, Ark. Karen told NBC News that the girl "could barely even walk" and that her clothes were soiled in urine. Ashley initially told Karen that Blu “was not at the residence,” according to Karen and the affidavit. Ashley appeared to give conflicting accounts of who buried the boy's body, according to the affidavit.
☆ Chinese Semiconductor IPOs Surge as Chip Arms Race Heats Up
  + stars: | 2022-12-21 | by ( Rebecca Feng | ) www.wsj.com   time to read: 1 min
Shares of recently listed chip companies have outperformed other sectors in China this year. Chinese semiconductor companies are in the middle of a boom in IPO volumes, as a government push to develop the country’s chip industry draws large sums of capital. Companies that produce chips or chip-making equipment raised the equivalent of $12 billion from domestic initial public offerings in the year through Dec. 15, nearly three times what they raised in 2021. They have filed for another $17 billion worth of IPOs in mainland China.
☆ Developer Sunac China Offers Up a Dollar-Debt Restructuring Plan
  + stars: | 2022-12-09 | by ( Rebecca Feng | ) www.wsj.com   time to read: 1 min
Sunac China , a large Chinese property developer that defaulted on its dollar debt earlier this year, offered a preliminary restructuring plan to its international bond investors and said it hopes to return to healthy development next year. The Tianjin-based company on Friday outlined how it intends to restructure the bulk of its roughly $11 billion in international debt. Sunac said it has proposed converting $3 billion to $4 billion of it into shares or equity-linked instruments, and exchanging some other existing obligations into new dollar notes with maturities ranging from two to eight years.
☆ China’s Covid Easing Fuels Stock-Market Hopes—and Fans Fears
  + stars: | 2022-12-06 | by ( Rebecca Feng | ) www.wsj.com   time to read: 1 min
Chinese stocks have recently been whipsawed by the country’s attempts—and its numerous struggles—to move past the Covid-19 pandemic. Investors say it is only the beginning of what is likely to be a long and tumultuous period, as Beijing tries to pivot from a zero-tolerance Covid policy characterized by lockdowns and numerous restrictions to living with the virus and limiting its damage to the economy. Economists and strategists say China’s path to reopening in the coming year is littered with hurdles that make it difficult for investors to predict the impact on domestic spending, corporate earnings and the country’s stock market.
☆ Chinese Stocks Drop as Covid Protests Intensify, Cases Surge
  + stars: | 2022-11-28 | by ( Rebecca Feng | ) www.wsj.com   time to read: 1 min
Shares in mainland China and Hong Kong slid on Monday morning, after protests against the country’s zero-tolerance approach to Covid-19 gathered steam. Hong Kong’s benchmark Hang Seng Index, which is dominated by Chinese stocks, was down more than 4% after the market opened. It recovered some ground in the morning but was still around 2% lower by midmorning. The Chinese domestic CSI 300 index was down 1.6%.
☆ Chinese Banks’ $178 Billion ‘Medicine’ for Developers Won’t Cure All Ills
  + stars: | 2022-11-25 | by ( Rebecca Feng | ) www.wsj.com   time to read: 1 min
A construction site in Shanghai. State-owned banks are delivering loans and other support measures to the country’s developers of real estate. HONG KONG—China’s state-owned banks are showering the country’s real-estate developers with loans and other promises of financial support, moves that will prevent the beleaguered industry from spiraling into a full-blown crisis following a wave of debt defaults. The generous aid, however, is unlikely to quickly solve a fundamental problem afflicting many Chinese developers: A deep slump in new home sales.
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