A US debt default would cause a spike in borrowing costs that squeezes American consumers as well as significant harm to the world economy, International Monetary Fund Managing Director Kristalina Georgieva said.
Chinese banks are touting a wide variety of retail lending products as authorities need a pickup in consumer spending to create a more solid foundation for the world’s second largest economy.
Taiwan’s weakening economic outlook could spell the end of a rally for the island’s currency as investors reassess optimistic wagers on China’s reopening and a recovery in global demand for semiconductors.
China’s unprecedented housing slump and construction halt led to the worst earnings for real estate developers in at least seven years, according to Bloomberg estimates.
Ukrainian Defense Minister Oleksii Reznikov will be replaced by the head of military intelligence, substituting a general for a civilian as the country braces for a possible Russian offensive, a lawmaker from President Volodymyr Zelenskiy’s party said.
SoftBank Group Corp. is staring at another quarter of bleak results, but for the first time on record, Masayoshi Son is going to miss the earnings call.
Venezuela condemned what it called an “attack by the United States against an unmanned civilian aircraft of Chinese origin,” taking a clear side in the growing international dispute after a similar balloon was reported over Latin America.
The yen slumped after Nikkei reported that Masayoshi Amamiya was approached by the government for the role of Bank of Japan governor, a choice that would be seen as likely to extend the current incumbent’s ultra-easy policy.
Baillie Gifford’s assets declined more than £100 billion ($120.5 billion) last year following valuation decreases in its investment portfolio, the Financial Times reported.
Kyrie Irving — a gifted NBA guard who couldn’t escape controversy during his tenure with the Brooklyn Nets — was traded to the Dallas Mavericks, ESPN reported.
