Container ships are waiting at Asian ports as retailers struggle to shift excess stock
Hopes of a traditional peak season when holiday orders are imported are fading.
Financial News
Nvidia tops estimates and says sales will jump 170% this quarter, driven by demand for AI chips
Revenue in the second quarter doubled from $6.7 billion a year earlier and increased 88% from the prior period.
China is furious with Japan’s plan to release treated Fukushima water into the ocean
The imminent water release comes more than a decade after Japan was rocked by the second-worst nuclear disaster in history.
China’s central bank trims 1-year rate, but unexpectedly leaves 5-year rate unchanged
Most household and corporate loans in China are based on the PBOC’s one-year loan prime rate, while mortgages are pegged to the five-year rate.
Aldi is getting bigger. Here’s why the no-frills German grocer is looking to the Southern U.S. for growth
The German retailer Aldi announced this week it plans to acquire Winn-Dixie and Harveys Supermarket.
What China’s big earnings say about the consumer
Corporate earnings releases are picking up on a few bright spots for China’s consumer in a competitive market where people are less willing to spend.
Fed officials see ‘upside risks’ to inflation possibly leading to more rate hikes, minutes show
The Federal Reserve on Wednesday released minutes from its July 25-26 policy meeting.
Fitch warns it may be forced to downgrade dozens of banks, including JPMorgan Chase
Fitch Ratings warned that U.S. banks have inched closer to sweeping rating downgrades on dozens of lenders, including JPMorgan Chase and Bank of America.
Japan GDP grew 6%, handily beating expectations on robust exports
Economist surveyed by Reuters had expected the world’s third-largest economy to post 3.1% growth in the April-June quarter.
India is a rising force in Southeast Asia as region seeks to counter China’s dominance
New Delhi’s growing rivalry with China, is also seen as influencing its strategic calculation to strengthen its presence.Â