
Global Business Is Enduring a Synchronized Slowdown: Eco Week
Days after global finance chiefs described the widespread economic fallout inflicted by Russia’s war in Ukraine, business surveys may show an increasingly synchronized slowdown.
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Days after global finance chiefs described the widespread economic fallout inflicted by Russia’s war in Ukraine, business surveys may show an increasingly synchronized slowdown.
After a violent rally in bonds, Treasury traders are debating whether recent tough talk from the Federal Reserve on its commitment to cooling prices is enough to reverse the trend.
HSBC Holdings Plc Chief Executive Officer Noel Quinn said an executive’s remarks playing down the risk of climate change are “inconsistent” with the bank’s strategy and don’t reflect views of senior management.
(Bloomberg) -- Amazon.com Inc., stuck with too much warehouse capacity now that the surge in pandemic-era shopping has faded, is looking to sublet at least 10 million square feet of space and could vacate even more by ending leases with landlords, according to people familiar with the situation.
(Bloomberg) -- The world’s richest nation is waking up to an unpleasant and unfamiliar sensation: It’s getting poorer.
Oct 19, 2021
Bloomberg News
,(Bloomberg) -- Risks to the economy from the meltdown of China Evergrande Group are “contained” for now, according to a senior official with the International Monetary Fund.
“People understand that the government has the tools to contain the risks going forward,” Helge Berger, head of the fund’s China mission, said on Bloomberg Television. Risks in the property sector are contained to the sector at the moment, but authorities should keep monitoring in case they escalate, he said.
China’s property sector is highly leveraged, and the authorities’ efforts to deleverage are welcome, Berger said, but they need to be careful not to go too fast or too slow.
Developer China Evergrande Group’s debt crisis has intensified a downturn in the country’s real-estate sector and weighed on the economic outlook. China’s property and construction industries contracted in the third quarter for the first time since the start of the pandemic.
The IMF cut its growth forecast for China and the Asia-Pacific region this year on a surge of the delta variant and lagging vaccinations. China’s forecast was trimmed to 8% from 8.4% to reflect ongoing outbreaks of the virus, fiscal policy tightening and stresses in the property sector.
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