After years of pent-up demand for leisure and business travel due to the ravages of Covid-19, millions of Chinese are taking to the skies again as the nation leads an aviation boom across Asia.
Didi Global Inc. has agreed to sell its smart car development arm to Xpeng Inc. for HK$5.84 billion ($744 million), exiting a promising business in the world’s largest electric vehicle market.
Asian stocks advanced, following US equities with modest gains Monday after Jerome Powell said the Federal Reserve would “proceed carefully” on whether to raise interest rates again, while signaling policy will remain tighter for longer.
Oil rose for a third day after China announced measures to boost its stock and property markets, helping offset concerns about increased supply and monetary tightening in the US and Europe.
Fortescue Metals Group Ltd. said the company’s chief executive officer of its iron ore division, Fiona Hick, had resigned after less than six months in the role.
China Evergrande Group creditors will vote on the developer’s offshore-debt overhaul proposal Monday, a key step in a protracted process to finalize a blueprint for what would be one of the country’s biggest restructurings ever.
China lowered the stamp duty on stock trades for the first time since 2008 and pledged to slow the pace of initial public offerings, among a slew of new measures to woo investors back to its flagging equities market.
Traders are girding for a cautious start to the week after US and European policymakers signaled interest rates will likely stay higher for longer during their annual confab at Jackson Hole.
Britain’s often envied “bank of mum and dad,” used by first-time homebuyers to scrape together a mortgage deposit, is drying up.
While disagreements are common between elected leaders and central bankers, they’re unusual in one-party, Communist-run nations. When they do happen, it’s usually the sign of a power struggle.
