Latest News

China’s Big Banks See Profit Gains Despite Slowing Economy

China’s biggest state-owned banks delivered profit gains last year after boosting lending to help cushion the economy from a slowdown triggered by the nation’s strict pursuit of Covid zero.
Wall Street’s Average Bonus Dropped 26% to $176,700 Last Year

The average Wall Street bonus plummeted 26% last year as a slump in dealmaking and banks’ efforts to contain costs weighed on compensation.
China’s Largest Developer Posts First Loss Since 2007 Listing

Country Garden Holdings Co., China’s largest property developer, reported a first full-year loss since its 2007 listing in Hong Kong and signaled it would pivot away from its expansion in smaller cities.
Women Are Still the Driving Force of US Post-Covid Entrepreneurs

Women created about half of new US businesses for the third year in a row in 2022, largely driven by a desire for flexibility and financial stability.
Blackstone’s Schwarzman Says US Banking Crisis Mostly ‘Solvable’

Blackstone Inc.’s Steve Schwarzman expects most US banks to withstand the current industry turmoil, blaming it on the after-effects of the pandemic and technology rather than a wave of bad loans.

BNN