June, 2016

• 1 June

  PBOC weighs risks in shadow loan market

  

    Bloomberg China’s central bank is expanding the fight to monitor and control risks emerging in the burgeoning market for loosely-regulated shadow lending. The People’s Bank of China has started collecting data from the murky world of online financing, in which firms make loans for everything from weddings to mining projects. It’s a growing part of a shadow banking market ...

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• 1 June

  ICBC chief retires amid weak profits

  

    AFP The head of the world’s biggest bank by assets, Industrial and Commercial Bank of China (ICBC), is retiring, according to a statement, amid flat profit growth for the massive lender. Jiang Jianqing, 63, is leaving his post as chairman and will be replaced by current president and vice chairman Yi Huiman, ICBC said in a statement to the ...

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• 1 June

  Hyundai Heavy to get bank’s sanction to raise US$2.2 bn

  

    Bloomberg Hyundai Heavy Industries Co, the world’s biggest shipbuilder, received an initial approval from its creditor KEB Hana Bank to raise 2.6 trillion won ($2.2 billion) selling assets, according to a person familiar with the plan. The shipbuilder plans to sell stakes in other companies and real estate projects, the person said, asking not to be identified as the ...

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• 1 June

  Fed embarks upon quantitative easing

  

    Lagos / AFP Investors won’t necessarily be surprised if the Federal Reserve embarks upon another edition of quantitative easing when the next US recession hits. What would come as a shock is if the central bank decided to purchase assets before exhausting its more traditional form of accommodation: rate cuts. But that approach might be just what the doctor ...

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• 1 June

  Fed honchos pine for wage gains

  

    Bloomberg Federal Reserve officials spent 2015 pining for a pickup in US wage gains. For the heads of the district banks, anecdotal evidence existed in their own paychecks. Fed presidents saw a 4 percent average salary increase last year, following a 6.6 percent bump in 2014, according to the central bank’s annual report released. Those gains follow a pay ...

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• 1 June

  UK house prices to keep rising even as activity cools

  

    Bloomberg U.K. housing activity may cool in the coming months after the rush to beat a tax increase boosted the market in the first quarter, though prices should continue to rise, Nationwide Building Society said. The average price of a home rose 0.2 percent to 204,368 pounds ($296,000) in May, matching the pace in April, the lender said on ...

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• 1 June

  Nova Scotia bank curbs mortgages in Vancouver, Toronto as prices soar

  

    Bloomberg Hot housing markets in Vancouver and Toronto prompted Bank of Nova Scotia to ease off on mortgage lending in those cities, Chief Executive Officer Brian Porter said. “We’re a little concerned about housing prices in the greater Vancouver area and Toronto,” Porter, 58, said in an interview on Bloomberg TV Canada. “We just took our foot off the ...

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• 1 June

  Landowners win at US court on wetlands development

  

    Bloomberg The U.S. Supreme Court gave landowners a new avenue to challenge some federal regulatory decisions affecting their property rights, in a case that three conservative justices said raised troubling questions about government overreach. The 8-0 ruling said landowners can go straight to court after federal regulators decide that a piece of property containing wetlands is covered by the ...

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• 1 June

  Waiting for the heavens to open

  

    Bloomberg Time is running out for the 70 acres of sugar cane and fruit that Balasaheb Pandharinath Shende farms in India’s Maharashtra state. After two years of drought, his fields are parched and his wells have dried up. Monsoon rains that usually arrive this time of year should help, but the government says they will be at least a ...

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• 1 June

  Indonesia battles to bring healthcare to masses

  

    Jakarta / AFP When HeniKarmila sought to find a doctor for her ailing mother using Indonesia’s new healthcare system, she faced a nine-hour wait in a line outside a crowded public hospital in Jakarta. “The queue at the hospital is always very long, packed with young and old people, pregnant women, people who have had accidents, those in need ...

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