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Higher-than-expected interest rates amid persistent inflation are perceived as the biggest threat to financial stability among market participants and observers, according to the Federal Reserve.
Fifth Third Bancorp jumped the most in four months, leading bank stocks higher, with Chief Executive Officer Tim Spence predicting that income from lending has bottomed out.
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Hong Kong’s accounting regulator said it will investigate allegations over PricewaterhouseCoopers LLP’s role auditing China Evergrande Group following a “whistleblower report”.
Hudson Bay Capital Management has raised over $800 million to invest in so-called special opportunities, according to a person with knowledge of the matter.
Jun 22, 2021
, Bloomberg News
(Bloomberg) -- China Evergrande Group’s credit rating has been cut one notch to B by Fitch Ratings.
The credit risk assessor also downgrade the borrower’s subsidiaries Hengda Real Estate Group Co. and Tianji Holding Ltd. The move reflects “ongoing pressure for Evergrande to downsize its business and reduce total debt,” Fitch analysts wrote in a Tuesday report.
©2021 Bloomberg L.P.
