Government 14 November 2023, 1:42 pm 1 minute Reuters exclusively reported that China has ordered its local governments to halt public-private partnership projects identified as “problematic” and replaced a 10% budget spending allowance for these ventures with a vetting mechanism by Beijing as it tries to curb municipal debt risks. Market Impact Debt-laden local governments …
Category Archives: Economy
China tightens curbs on foreign travel by bankers, state workers
EconomyGovernment 17 October 2023, 5:14 pm 1 minute Reuters reported that Chinese civil servants and employees of state-linked enterprises are facing tighter constraints on private travel abroad and scrutiny of their foreign connections, as Beijing wages a campaign against foreign influence. Market Impact The actions reflect President Xi Jinping’s focus on national security amid fraught …
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Hitachi set to win EU okay for $1.8 bln Thales deal
DealsGovernment 19 October 2023, 6:14 pm 1 minute Reuters was first to report that Hitachi (6501.T) is set to win EU antitrust approval for its 1.7-billion-euro ($1.8 billion) acquisition of Thales’ (TCFP.PA) GTS railway signalling business on the condition it sells assets in France and Germany. Market Impact The UK’s competition agency cleared the deal …
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EDF price row sparks fears boss may resign
Energy 24 October 2023, 6:07 pm 1 minute Reuters was first to report that Luc Remont’s future as head of France’s state-owned nuclear power giant EDF is in question due to an escalating row over future power prices, raising concern he may resign. Market Impact The nuclear power produced by EDF provides 70% of France’s …
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China to choose fiscal muscle over big reforms to revive economy
Economy 25 October 2023, 5:45 pm 1 minute Reuters reported that China is set to unleash fresh fiscal stimulus to shore up its economic recovery, drawing on a well-used playbook that relies heavily on debt and state spending but falls short on the deeper reforms called for by a growing number of analysts. Some government …
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China’s cabinet curbs debt growth in 12 “high risk” regions
Government 25 October 2023, 5:57 pm 1 minute Reuters exclusively reported China’s cabinet has restricted the ability of local governments in 12 heavily indebted regions to take on new debt and placed limits on what new state-funded projects they can launch. Market Impact Local government debt loads are far higher than at the central government …
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China’s clashing priorities behind rare money market distress
EconomyGovernment 07 November 2023, 1:50 pm 1 minute Reuters exclusively reported China’s attempts to keep the yuan from falling contributed to last week’s chaos in money markets, pointing to the pressure behind the scenes as Beijing tries to guide its economy and markets through a major slowdown. Market Impact Routine month-end demand for cash in …
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Italy hikes deficit targets as economic growth weakens
EconomyGovernment 28 September 2023, 12:53 pm 1 minute Reuters was first to report that the Italian government on Wednesday cut its growth forecasts for this year and next and hiked its budget deficit targets, as rising interest rates hurt the economy and costly green building incentives weigh on public finances. Market Impact Italy, which has …
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UK regulator to push for probe into Amazon, Microsoft cloud dominance
Technology 03 October 2023, 3:50 pm 1 minute Reuters reported that British media regulator Ofcom will this week push for an antitrust investigation into Amazon (AMZN.O) and Microsoft’s (MSFT.O) dominance of the UK’s cloud computing market. Market Impact Between them, Amazon and Microsoft enjoy a combined market share of 60-70% of Britain’s cloud computing industry. …
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India regulator probing ties between Adani Group and Gulf Asia fund
Business & FinanceDealsEconomyGovernment 11 October 2023, 11:50 am 1 minute Reuters exclusively reported that India’s market regulator is investigating the relationship between the Adani Group and a fund incorporated in the British Virgin Islands to see if there has been a violation of share ownership rules. Market Impact Shares of Adani Enterprises (ADEL.NS) and Adani …
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