Bloomberg A third Hong Kong stock in less than a week lost most of its value in a sudden one-day plunge, underscoring concern that the $5.2 trillion market has become a breeding ground for wild volatility. China First Capital Group, an investment company that focusses on financial and education services, plunged as much as 78% on Wednesday before trading was ...

Bloomberg Federal Reserve governor Lael Brainard painted a mostly positive picture of the near-term outlook for the US economy while advocating longer-term changes in the conduct of monetary policy in an era of low interest rates and subdued inflation. “There are good reasons to expect the economy to grow at a pace modestly above potential over the next year or ...

Bloomberg Deutsche Bank AG sold another chunk of unwanted assets to Goldman Sachs Group Inc as part of a radical restructuring that’s seeing the German firm exit businesses where it’s been unable to compete. The nation’s largest lender recently sold securities with a notional value of about 40 billion pounds ($51 billion) to the US bank, people briefed on the ...

Bloomberg Citigroup Inc was fined 44 million pounds ($57 million) by the Bank of England (BOE) for years of inaccurate reporting to regulators about the lender’s capital and liquidity levels. Applying its largest fine ever, the central bank’s Prudential Regulation Authority (PRA) said that between June 2014 and December 2018, three UK units of the Wall Street bank had significant ...

Bloomberg Goldman Sachs Group Inc reckons Germany should embrace “a large fiscal expansion” but probably won’t; China should deploy just enough to avert “a sharp slowdown”; and “potential meaningful implications” for budget policy are another reason to watch the US presidential election. In its ‘Top of Mind’ report, Goldman explores the fiscal front given monetary policy is nearly exhausted in ...

Bloomberg Expanding stock markets could be good for the earth, according to research from the European Central Bank (ECB). Economies receiving more funding from stock markets than credit markets generate less carbon, it said in a paper. Increasing the global share of equity financing to half would reduce aggregate per capita carbon emissions by about a quarter of the Paris ...

Bloomberg Global central banks are approaching the end of the year with a collective shudder at the risky behaviour that their low interest-rate policies are encouraging. Policy makers from European Central Bank (ECB) and the Federal Reserve are among those raising cautionary flags at potentially unsafe investing stoked by their efforts to flood economies with ultra-cheap money. Stock indexes from ...

Bloomberg Prime minister Narendra Modi must invest trillions of dollars on roads and other critical infrastructure if he’s to pull India’s economy out of its slump, with at least half coming from provincial governments that are out of his control. India will need to spend 235 trillion rupees ($3.3 trillion) on infrastructure over the coming decade to return economic growth ...

Bloomberg Hong Kong’s government fetched a record HK$42 billion ($5 billion) for a plot of land, a sale coming in at the lower end of estimates as the financial hub has been rocked by six months of pro-democracy protests. A tender for the site, which sits atop the high-speed railway station in Kowloon that connects to mainland Chinese cities, was ...

Bloomberg Japan’s measures for encouraging the spread of cashless payments will likely need more funding beyond the end of March and could be extended as part of a planned government stimulus package. The International Monetary Fund (IMF) recommended that Japan consider lengthening the time frame of its measures to support consumption after an October sales tax increase to support the ...