Fed warns asset prices 'vulnerable to significant declines' as investors gorge on risk

WASHINGTON (BLOOMBERG) – A rising appetite for risk across a variety of asset markets is stretching valuations and creating vulnerabilities in the US financial system, the Federal Reserve said in its semi-annual financial stability report. “Vulnerabilities associated with elevated risk appetite are rising,” Fed Governor Lael Brainard, the head of the Board’s financial stability committee, […]

What's happening to China's tech sector?

SINGAPORE – China’s tech sector was a clear winner of the pandemic in 2020 with coffers swelling thanks to the broad shift to digital, propelling share prices to new heights. But it’s been a different story this year. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories […]

U.S. wages and benefits jump as economy reopens – The Denver Post

WASHINGTON — Wages and benefits grew quickly for U.S. workers in the first three months of the year, a sign that businesses are starting to offer higher pay to fill newly-opened jobs. U.S. workers’ total compensation rose 0.9% in the January-March quarter, the largest gain in more than 13 years, the Labor Department said Friday. […]

Chinese billionaire family quietly expanding empire in Hong Kong

HONG KONG (BLOOMBERG) – A mainland Chinese property family is quietly building a presence in Hong Kong by snapping up land plots and even a prominent local newspaper. Shenzhen-based Kaisa Group’s Mr Kwok Ying Shing has become one of the most active Chinese tycoons in Hong Kong with a flurry of new purchases. His moves […]

What happens when women run the economy? We're about to find out

WASHINGTON (REUTERS) – Women now hold many of the jobs controlling the world’s largest economy – and they’re trying to fix it. Treasury Secretary Janet Yellen, Commerce Secretary Gina Raimondo and trade czar Katherine Tai hold top jobs in US President Joe Biden’s administration and many of his economic advisers also are women, as are […]

South Korea exports jump 16.6% in March, beating forecasts

SEOUL (REUTERS) – Robust demand for chips and petrochemical products helped South Korean exports to expand for a fifth consecutive month in March, charting a stable recovery path for Asia’s fourth-largest economy. Exports jumped 16.6 per cent from a year earlier, exceeding a 16.2 per cent forecast by analysts, data from the trade ministry showed […]

Sovereign rating cuts coming to those who ignore climate change

NEW YORK (BLOOMBERG) – A failure to cut pollution will cost governments around the world billions, according to University of Cambridge economists who used artificial intelligence to forecast climate change’s effect on sovereign credit ratings. If emissions continue at current levels, 63 countries will see ratings downgrades of more than one notch by 2030, acording […]

Malaysia investment slump shows need for structural reforms: World Bank

KUALA LUMPUR (REUTERS) – Malaysia risks falling behind in the regional competition for foreign investments due to longstanding policy and structural issues, as it comes within “striking distance” of becoming a high-income nation, the World Bank said. Foreign direct investments (FDI) to Malaysia fell 56 per cent to US$3.4 billion (S$4.6 billion) in 2020, a […]

Japan factory activity expands for first time in 22 months

TOKYO (REUTERS) – Japan’s factory activity expanded for the first time in 22 months in February, a private-sector survey showed on Friday (Feb 19), as strong export demand helped manufacturers shake off the drag from the coronavirus pandemic. But the service sector was more pessimistic, with businesses struggling to overcome the blow from emergency measures […]