World leaders reach landmark deal on a global corporate tax rate
The Organization for Economic Cooperation and Development on Friday announced a major breakthrough over corporate tax rates, after years of disagreement.
Financial News
Nordic countries are restricting the use of Moderna’s Covid vaccine. Here’s why
Finland, Denmark and Sweden are limiting the use of Moderna’s Covid-19 vaccine in young people over concerns around rare cardiovascular side effects.
Stuck in China, consumers are spending millions for luxury goods in Hainan
Chinese consumers opened their wallets to shop during the week-long National Day holiday that ended Thursday, even as travel numbers fell.
Hong Kong’s Hang Seng jumps more than 2% as major Asia-Pacific indexes rise at least 1%
By Thursday afternoon in Hong Kong, the Hang Seng index was up 2.41%.
U.S. faces a recession if Congress doesn’t address the debt limit within 2 weeks, Yellen says
Treasury Secretary Janet Yellen believes the economy would fall into a recession if Congress fails to raise the debt ceiling before a default on the U.S. debt.
Chinese developer misses bond payment as stress spreads beyond Evergrande crisis
There are increasing signs of stress in China’s property market after ratings agencies downgraded Fantasia and Sinic over debt concerns.
Hong Kong’s Hang Seng index drops 2% amid Evergrande trading halt
Trading in the Hong Kong-listed shares of China Evergrande Group as well as Evergrande Property Services was halted on Monday.
Tesla delivered 241,300 vehicles in the third quarter, topping expectations
Tesla delivered 241,300 electric vehicles during the third quarter of 2021, the company said Saturday.
Biden’s top trade advisor will say China isn’t complying with phase 1 deal reached under Trump, according to sources
President Biden’s top trade official, Katherine Tai, will announce that China hasn’t complied with the phase one trade deal, sources said.
Why China’s power crunch is such a big deal
Abrupt factory blackouts in the last week reflect a system trying to react to a number of directives from Beijing and macroeconomic developments.