Morning Bid: Transatlantic split reopens as half-year nears
Global investors head to the half-year point this week trying to get across numerous political narratives, a hiccup in tech and a reopening of the transatlantic gap in business activity. Throw in Friday’s looming release of the Federal Reserve’s favoured PCE inflation gauge and an ongoing slide in Japan’s yen and China’s yuan and it’s a sparkier summer than the buoyant first-half world markets […]
China orders small banks to curtail wealth management business, sources say
China’s banking regulator has given small banks a 2026 deadline to stop selling wealth management products unless they have a separate wealth subsidiary in a bid to curb financial risks, three people with knowledge of the matter told Reuters. A 2018 regulation and previous instructions had required banks to set up a wealth management subsidiary […]