China recently reported that its consumer price index rose by 0.6% year on year in August, which was below expectations. This increase was primarily driven by rising food prices, as food prices climbed by 2.8% year on year in August. However, other sectors such as transportation, home goods, and rents experienced a decline in costs.
Finance
Seven & i Holdings recently rejected a takeover offer from Canadian convenience store operator Alimentation Couche-Tard. The company made this decision after evaluating the offer and determining that it was not in the best interest of its shareholders and stakeholders. The offer made by Couche-Tard was to acquire all outstanding shares of Seven & i
In 2024, exchange-traded fund inflows have exceeded monthly records, indicating strong investor interest in this market. The surge in inflows is largely attributed to the significant growth in money market funds, with over $6 trillion currently parked in these funds. Market experts believe that this influx of capital could have a substantial impact on ETF
China’s former head of the People’s Bank of China, Yi Gang, emphasized the importance of prioritizing domestic demand in order to combat deflationary pressures during his speech at the Bund Summit in Shanghai. He pointed out that the key to improving the situation lies in addressing the real estate market as well as local government
Visa recently announced its plans to introduce a dedicated service for account-to-account (A2A) payments, revolutionizing the traditional payment methods that involve credit cards and direct debits. This innovative service aims to provide consumers with more control, security, and convenience when making online purchases, ultimately enhancing their overall payment experience. One of the key benefits of
As China continues to grapple with property struggles and U.S. sanctions, the latest Milken Institute’s best performing cities China index sheds light on the varying impacts on different cities. Hangzhou, the capital of the eastern Zhejiang province, has emerged as a frontrunner in this year’s rankings, thanks to its thriving tech industry which is home
British financial technology company Zilch recently announced a significant achievement, reporting its first-ever month of profit. This accomplishment represents a pivotal moment for the company as it sets its sights on an eventual initial public offering. Zilch, a major player in the buy now, pay later sector alongside competitors like Klarna and Block, disclosed that
In a monumental moment, Warren Buffett’s Berkshire Hathaway made history by reaching a $1 trillion market capitalization, marking itself as the first non-technology company in the U.S. to achieve this milestone. The Omaha-based conglomerate has seen its shares surge by over 28% in 2024, outpacing the S&P 500’s 18% gain. This feat was accomplished just
In a recent interview with CNBC’s “Squawk Box Asia,” Kenneth Akintewe, the head of Asian sovereign debt at British fund manager abdrn, expressed his concerns about the U.S. economy potentially facing a prolonged slowdown in 2025. While abdrn predicts a soft landing for the economy, Akintewe raised questions about whether the Federal Reserve is making
China’s gaming industry has recently been making waves with the release of Black Myth: Wukong, the country’s first attempt at a top-tier video game. This action-packed game, set in mythological China, soared to new heights by selling over 10 million units just three days after its launch on Aug. 20. This remarkable achievement has not