China reported that its consumer price index rose by 0.6% year on year in August, falling short of expectations. The costs of transportation, home goods, and rents decreased during this period. Food prices, however, saw an increase of 2.8% year on year in August, the first positive reading since June 2023. Pork prices surged by
Finance
Seven & i Holdings has made a bold move by rejecting the takeover offer from Alimentation Couche-Tard, stating that the offer does not align with the best interests of its shareholders and stakeholders. The unanimous decision was communicated through a filing with the Tokyo Stock Exchange, where it was revealed that Couche-Tard had proposed to
The year 2024 has seen a surge in exchange-traded fund (ETF) inflows, surpassing monthly records. Market managers are closely monitoring the impact of the money market fund boom on these inflows. Nate Geraci, president of The ETF Store, has highlighted the significant role of the over $6 trillion parked in money market funds in shaping
China’s economic policymakers are currently facing the challenge of addressing deflationary pressures and boosting domestic demand. Former head of the People’s Bank of China, Yi Gang, emphasized the importance of focusing on proactive fiscal policy and accommodative monetary policy to stimulate economic growth during the Bund Summit in Shanghai. This article delves into strategies and
Visa recently announced its plans to launch a dedicated service for bank transfers, bypassing traditional methods such as credit cards and direct debits. This move marks a significant shift in the way payments are processed and managed, especially in the European market. The new service, known as account-to-account (A2A) payments, is set to launch in
British financial technology firm Zilch recently made headlines by reporting its first-ever month of profit, a significant milestone for the company as it sets its sights on an eventual initial public offering. In a recent trading update, Zilch revealed that it achieved operating profitability in July 2024, just four years after its founding. This achievement
One of China’s largest and most populous cities, Hangzhou, has emerged as the top-ranking city in the Milken Institute’s best performing cities China index. Known as the capital of the eastern Zhejiang province and home to tech giants like Alibaba, Hangzhou has seen significant growth in recent years. This success can be attributed to its
Berkshire Hathaway, under the leadership of Warren Buffett, recently reached a significant milestone by achieving a $1 trillion market capitalization. This achievement is notable as it marks the first time a non-technology company in the United States has reached this coveted milestone. Despite a challenging economic environment, Berkshire’s stock price has soared, with shares rallying
As British fund manager abdrn predicts a soft landing for the U.S. economy, concerns about a prolonged slowdown in 2025 linger. Kenneth Akintewe, the company’s head of Asian sovereign debt, raised doubts about the accuracy of economic indicators and the Federal Reserve’s decision-making process. He highlighted the revision of non-farm payroll numbers, revealing a weaker
China’s video game industry has taken a significant leap forward with the release of Black Myth: Wukong, a top-tier action game set in mythological China. The game shattered world records by selling over 10 million units within just three days of its launch, signaling a new era for Chinese-developed AAA games. This groundbreaking success has