FINANCE

Evergrande Group Crisis Deepens; Protests Erupt Across China
Protests erupted across China over the weekend at numerous properties owned and operated by the Evergrande Group with home buyers, retail investors and even Evergrandes’ own employees speaking out against how the struggling company is...
Food Prices Soar In August Continuing the Trend Upwards as Drought and COVID-19 Woes Continue
According to data from the Bureau of Labor Statistics published on Sept. 10, filling American pantries is becoming increasingly more expensive with prices soaring to record highs on many food staples including beef, pork and...
Trading of Bonds Suspended for Chinese Real Estate Giant Evergrande as Prices Plummet
Once the world’s most valuable real estate company, the Evergrande Group, had trading of its bonds suspended by China’s stock exchanges on Monday Sept. 6. The Shanghai Stock Exchange (SSE) said in a statement that...
Pfizer to Make $2.3 Billion Deal to Acquire Trillium, Blood Cancer Drugmaker
On Monday, Pfizer Inc. announced it would buy Canadian drug developer Trillium Therapeutics Inc via a $2.26 billion deal to reinforce its investments in blood cancer therapies. Pfizer already acquired a $25 million stake in...
Beijing Eyeing Take Over of Ride Sharing App, Didi; Encourages State-owned Companies to Invest
The Chinese government is encouraging government-run firms to invest in the Chinese ride-hailing company, Didi, as Beijing considers taking over control of the publicly traded Chinese technology giant, Bloomberg News has reported. It appears Beijing...
Chinese Real Estate Giant Evergrande Teetering on the Brink of Bankruptcy
Evergrande, one of the world’s most indebted real estate developers, is reportedly so crippled with debt that it is teetering on the brink of bankruptcy.  The company, which employs upwards of 200,000 people and claims...
China’s Top Court Deems Brutal ‘996’ Overtime Policy Illegal
China’s Supreme People’s Court has deemed the overtime practice of “996”, working 9 a.m. to 9 p.m. six days a week, illegal, specifically targeting policies common among many Chinese technology firms.  On Thursday, August 26...
Financial institutions like Bank of America and Goldman Sachs have scaled back their growth estimates for America’s economy.
Delta Fears: Financial Institutions Cut US Growth Estimates, Americans Remain Pessimistic
Several financial institutions have scaled back their U.S. growth expectations for the third quarter. The reduced forecasts come amidst sluggish consumer spending and the country remains under the threat of measures related to the COVID-19...
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Investors ‘Sell’ Chinese Tech Stocks as Beijing Continues Crackdown
The Chinese Communist Party’s crackdown on the country’s tech companies has wiped out a trillion dollars from global stock markets. And as Beijing continues to tighten its noose over tech firms, investors are becoming increasingly...