U.S. regulators will review the audits of Alibaba and other Chinese companies
Three sources familiar with the situation said that U.S. officials had chosen e-commerce behemoth Alibaba Group Holding Ltd (9988.HK) as well as other U.S.-listed Chinese corporations for audit inspections beginning next month.The action comes after Beijing and Washington struck a historic audit agreement on Friday that allows American regulators to review accounting firms in Hong […]
Attorneys caution that the U.S.-China audit agreement is not finalised yet
After Beijing and Washington reached a long-awaited audit agreement, investors in U.S.-surveyed Chinese companies experienced a great deal of comfort; however, legal experts and China watchers caution the two sides could still disagree over how the agreement is understood and put into practise.Since more than ten years ago, U.S. officials have wanted access to the […]
China audit deal provides relief, but there are limited incentives to invest
Investors applaud a groundbreaking agreement that grants U.S. regulators access to the financial records of Chinese companies, but they caution that before much more capital can be expected to flow to China, markets must first witness successful inspections and an improvement in the country’s economy. The agreement, which was announced on Friday, at least in […]
Fed’s Powell rides off to Jackson Hole; a blast from the past
At this year’s central banking summit hosted in Jackson Hole Wyoming, Federal Reserve Chair Jerome Powell will deliver a speech on inflation and interest rates in a very different manner from the reassuring one he employed at the same gathering only one year prior. At the time, Powell presented a number of charts to show […]
Dollar reaches a one-month high as Fed officials discuss rate increases
In the lead-up to their important Jackson Hole symposium, Federal Reserve officials proceeded to stress the necessity for additional interest rate increases, pushing the U.S. dollar to a new one-month high versus major rivals on Friday. The dollar index increased 0.14% to 107.63 from its previous high of 107.72, reached on July 18. This week, […]
Fed minutes may hint justification for the upcoming jumbo rate hike
Officials from the Federal Reserve are adamant that they will keep increasing interest rates until soaring inflation is brought under control, and the minutes from their policy meeting on July 26–27, which will be released on Wednesday, may reveal just how aggressive they want to be. The minutes, which are scheduled for release at 2 […]
S&P 500, and Nasdaq decline as anxiety over rate hikes arise
Despite new evidence of decreasing inflation, the Nasdaq & S&P 500 reverted to a close negative on Thursday as investors realised the Federal Reserve still has to quickly raise interest rates to effectively control increasing consumer costs. After earlier reaching new three-month highs in response to data that indicated the U.S. producer pricing index (PPI) […]
Biden signs legislation to improve U.S. chips, to rival with China
Tuesday saw the historic signing by President Joe Biden of a measure providing $52.7 billion in subsidies for American semiconductor research and production as well as stepping up initiatives to make the U.S. more comparable with China’s scientific and technology initiatives. The future will be created in America, according to Biden, who described the initiative as […]
U.S. banks are struggling with a trillion-dollar reverse repo
The massive amounts of overnight cash stored at the Federal Reserve each day might cause banks a lot of trouble by straining their accounting records and limiting their ability to lend. A wide range of market participants has flocked to the Fed’s reverse repurchase facility (RRP), which has helped clean up excess flexibility in the […]
Inflation strikes U.S. young, low-income individuals’ finances
Young and low-income customers are beginning to experience financial strain as high inflation compels Americans to pay more on gasoline and bills. Consumers in Generation Z and others with low credit ratings are racking up credit card loans at a rate unseen since before the epidemic, falling behind on auto loans and credit card payments, […]