Most interesting finance and busines news.
Billionaire Li Ka-shing, who predicted China’s stock-market bubble would burst in 2007, said the global economy won’t recover this year and told investors to be “cautious” about buying shares, especially with borrowed money.
“The worst is over for the global economy,” Li, Asia’s second-richest man, said today after his companies, Cheung Kong (Holdings) Ltd. […]
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Norway’s central bank may leave its benchmark interest rate at a record low this week as the country’s first recession in two decades shows signs of abating, a survey showed.
Oslo-based Norges Bank will keep the overnight deposit rate at 1.25 percent, ending an easing cycle that started in October, according to all 12 […]
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Lending growth at Japanese banks slowed in July for a seventh straight month as companies used bond sales to raise funds and cut wages to reduce costs.
Loans, excluding those by credit associations, rose 2.2 percent from a year earlier, compared with 2.5 percent growth in June, the Bank of Japan said today.
“We […]
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The U.S. recession may have ended in July as the labor market improved, a member of the committee that dates American business cycles said.
“I haven’t felt that there have been any previous months for saying this will turn out to be the bottom, but this one is definitely a candidate,” Jeffrey Frankel, who […]
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U.S. banks may need to boost reserves for potential losses on home-equity loans after the Federal Deposit Insurance Corp. issued guidance in response to a slump in property prices from their peak in 2006.
The regulator, in a letter today to banks and examiners, urged lenders to consider issues such as whether borrowers’ total […]
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U.S. business activity contracted at a slower pace in July, a sign the economic outlook is improving entering the second half of the year.
The Institute for Supply Management-Chicago Inc. said today its business barometer increased to 43.4, the highest level since September, from 39.9 the prior month. Readings below 50 signal a contraction. […]
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