Bloomberg China will offer 200 billion yuan ($29.3 billion) in special loans to ensure stalled housing projects are delivered to buyers, people familiar with the matter said, ramping up financing support for its beleaguered property sector. The previously unreported size of the lending program, which was announced with scant details by China’s housing ministry, finance ministry and the central ...

  Bloomberg Euro-area businesses spent years wishing for a weaker euro. Now it’s here and it couldn’t have come at a worse time. The currency has slid more than 12% against the dollar this year, taking it below parity for the first time in two decades. That decline is boosting import costs, compounding a damaging surge in energy prices and ...

  Bloomberg As many investors pivot to strategies that profit from a drop in interest rates in Latin America, some big banks are warning that it’s too early to declare victory over inflation. Bank of America Corp (BofA) said rates in the region may stay high for longer than markets are expecting, and it’s worth holding onto positions that benefit ...

Bloomberg Mitsubishi UFJ Financial Group Inc. is in advanced talks to acquire consumer lender Home Credit’s assets in Indonesia and the Philippines, according to people familiar with the matter. MUFG, as Japan’s biggest lender is known, has emerged as the likeliest buyer for the businesses after outbidding other rivals, the people said, asking not to be identified because the matter ...

  Bloomberg Six months after switching to a four-day working week, the UK’s Atom Bank said it has seen benefits from talent retention to improved productivity. There was a 49% increase in job applications at the bank in January 2022 compared to a year ago, while staff retention rates have also risen, according to a press release on Wednesday. Days ...

  Bloomberg US index futures struggled for direction as investors digested the latest hawkish noises from the Federal Reserve amid mounting signs of a global economic slowdown. Futures on the S&P 500 and Nasdaq 100 fluctuated between modest gains and losses, with markets on edge ahead of the Jackson Hole central bankers’ retreat later this week. The 10-year Treasury yield ...

  Bloomberg Hedge funds ramped up bets on megacap US tech stocks and whittled down overall holdings to focus on favored names last quarter, with conviction climbing back to levels seen at the start of the pandemic, according to Goldman Sachs Group Inc. The funds boosted tech and consumer discretionary holdings, while cutting energy and materials wagers, strategists including Ben ...

  Bloomberg London Gatwick airport said it will end capacity caps this month, bringing some relief to travelers as schedule reductions at the UK capital’s larger Heathrow hub continue through the winter season. Gatwick, controlled by French builder Vinci SA, has hired 400 security staff to help resolve a labour crunch while delegating other workers to address shortages at airport ...

  Bloomberg Financially troubled Indian carrier SpiceJet Ltd is open to investment from external parties, including other airlines, as it seeks to raise 20 billion rupees ($250 million), Chairman Ajay Singh told reporters in New Delhi. Singh declined to say what other carriers SpiceJet may be in discussions with but indicated an equity stake sale may be one option. SpiceJet’s ...

  Bloomberg Global consumer giants selling everything from jewellery to t-shirts saw sales in China tumble in their most recent quarter as Covid Zero lockdowns hammered consumer demand in the world’s second-largest economy. Starbucks Corp was particularly hard hit, reporting a more than 40% drop in sales in the quarter ended on July 3. The company began the period with ...