FINANCE

Meat Prices in the US Outpace Inflation Amidst Continuing Pandemic Woes
The cost of meat at America’s butchers continues to rise as the coronavirus pandemic wreaks havoc on supply chains with little relief for consumers in sight. The Consumer Price Index, used to calculate the overall...
Justice Department Probing $14.7-Billion Zoom-Five9 Deal
The U.S. Justice Department is investigating a deal by Zoom Video Communications to buy customer-service software company Five9 due to national security risks posed by the videoconferencing firm’s ties with China. Both companies are headquartered...
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China Bans Cryptocurrency Mining and Transactions, Bitcoin Falls
China has banned all kinds of cryptocurrency transactions, and pledged to put an end to the mining of digital assets. The information was shared on the website of the People’s Bank of China. It also...
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British Defence Contractors Stand to Benefit From AUKUS Pact
The AUKUS announcement on 15 September preceded the news that BAE Systems PLc, the UK’s largest defence contractor and third biggest globally, along with Rolls Royce Holdings PLc, had been awarded a Ministry of Defence...
S&P Ratings Warn Evergrande Might Not Receive Support From Beijing, Worrying Investors
S&P Global Ratings has warned that Chinese real estate company, China Evergrande, which is currently facing financial issues, might not receive any aid from Beijing as some experts believe.  Evergrande has raked up a massive...
Evergrande Fails to Pay $83.5-Million Interest Payment
Chinese real estate giant, Evergrande, has failed to pay off its interest payments due on Sept. 23, deepening worries that the business is going to collapse and threaten China’s financial system.  The firm was due...
Last-minute Debt Deal Keeps Evergrande Afloat, but Crisis Is Far From Over
The Evergrande Group has struck a last minute deal to avoid defaulting on a bond payment worth an estimated $35.9 million that is due this Thursday Sept. 23. “In a statement filed with the Shenzhen...
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Chinese Economy Struggles With Slow Retail Sales in August
China’s retail sales growth for the month of August came out at a disappointing 2.5 percent when compared to a year back. This is well below the seven percent growth rate expected by analysts polled...
The Chinese real estate group, Evergrande, is facing issues with debt repayments.
China’s Evergrande Conglomerate Reels Under Payment Issues, Threatening Chinese Economy
China’s real estate giant, Evergrande, is teetering on the brink of bankruptcy, unable to service its debts. One of the most indebted private conglomerates in China, the company’s shares, listed in Hong Kong, have crashed...