China’s Credit Unexpectedly Shrinks in April Amid Weak Demand
China’s credit in April shrank for the first time as government bond sales slowed, while loan expansion was worse than expected in a sign of weak demand.
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China’s credit in April shrank for the first time as government bond sales slowed, while loan expansion was worse than expected in a sign of weak demand.
China is set to switch off a live feed of foreign flows for stocks as early as Monday, the latest policy move to shore up confidence by removing a potential source of negative data.
Underlying US inflation probably moderated in April for the first time in six months, offering a ray of hope that price pressures will start to ease again after a string of upside surprises.
Rising housing costs and stubbornly high inflation are battering many consumers and the hit to their wallets is now hurting America’s low-cost restaurants.
Startup Kelvin has a solution to make radiators more efficient and New York apartments less sauna-like.
Sep 25, 2019
Bloomberg News
,WeWork will likely postpone its initial public offering until next year, after co-founder Adam Neumann stepped down as chief executive officer, according to people familiar with the matter.
The latest delay follows the tumult over Neumann’s handling of the company’s IPO plans made public in August that expanded to include doubts about his leadership. He stepped down as CEO Tuesday and will take a new role as non-executive chairman, the company said.
Nothing has been finalized and the office-sharing company’s IPO plans could change, the people said.
A representative for WeWork declined to comment.
WeWork, or We Co. as it was renamed, had initially sought to go public this month. Last week, it delayed its IPO roadshow, saying it planned to complete the offering by the end of the year.
The Wall Street Journal reported Tuesday that WeWork was unlikely to go public this year.
The delay would sideline what was expected to have been the second-biggest IPO in the U.S. this year. It also threatens a $6 billion credit financing that was contingent on a successful offering.
The company is in talks with investment banks about a new US$3 billion loan, which would also be contingent on raising a substantial amount of new equity, people familiar with the matter told Bloomberg Tuesday. A likely source of that equity infusion is SoftBank Group Corp., the company’s largest shareholder, they said.