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Japan Raises Interest Rates to 31-Year High Under U.S. Pressure
The Bank of Japan’s widely expected move followed an unusual campaign by Treasury Secretary Scott Bessent for higher rates.
A Chinese AI company just connected its model to Wall Street's leading data providers
The startup Moonshot said it signed on financial industry giants from investment bank CICC to venture capital firms
China's property sector enters the era of stock housing
China is officially entering the era of stock housing, driven by rising secondary home transactions and sweeping structural reforms across urban construction, housing and real estate, and the broader construction sector. Policy authorities outlined key transformation goals for the 15th Five-Year Plan, alongside tangible progress in public housing, urban renewal, and cross-border urban development cooperation.
Japan raises interest rate to new 31-year high to curb rising prices
Central banks around the world have hiked rates as high energy prices are pushing up inflation.
'HK should spare no effort on RMB globalisation'
Chairman of HSBC Asia‑Pacific, Peter Wong, says Hong Kong should "spare no effort" in promoting the internationalisation of the renminbi. Speaking on RTHK's "On Broadcast Drive", he said Hong Kong's key advantage is being China's only international financial centre and promoting the renminbi's internationalisation would strengthen that position. He said Hong Kong needs to grow its pool of renminbi funds because the more money there is, the more products banks can offer. "If you have a big pool of funds, you can create new products," he said. "For example, if renminbi can be used to directly buy Hong Kong stocks, then other countries with surplus renminbi can come straight to Hong Kong to invest. That would make Hong Kong more and more vibrant. In this world, money attracts money." He also cited China's partners in South America, Africa and Asean that already use renminbi for trade settlement. He said if their surplus renminbi could be brought to Hong Kong, the city's renminbi pool would grow, making Hong Kong the biggest and strongest offshore renminbi centre. Edited by Tony Sabine
Healey to ask EU finance ministers to let UK into Made in Europe scheme
The chancellor wants the Made in Europe programme to deepen ties with the UK "rather than erecting new barriers".
China brings culture and trade dialogue to WTO Public Forum
China brings culture and trade dialogue to WTO Public Forum
Thames Water rescue deal should be rejected - MPs
A report on the future of Thames Water, urging the government to take action, has been published.
'I would tip up to 30% at a restaurant'
New Yorkers and Londoners share what they usually tip in a restaurant - and whether tipping culture has gotten out of hand.
Councils to share £5m in 'emergency food aid' as living costs rise
The money from the Welsh government will amount to around £200,000 to every council.