China new bank loans rise far less than expected in May as demand wobbles

New bank lending in China rebounded far less than expected in May and some key money gauges hit record lows, suggesting the world’s second-largest economy is still struggling to regain its footing even as the central bank seeks to bolster confidence. Chinese banks issued 950 billion yuan ($130.93 billion) in new yuan loans last month, […]

Falling bond yields leave China’s central bank facing tough call

China’s central bank faces a looming test of its resolve to curb the financial stability risks it sees in a rallying bond market as it runs counter to its view of the economy by depicting a long-term outlook of soft growth and low inflation. The People’s Bank of China, which has pledged to add treasury bond […]

US Treasury widens sanctions to curb Russia’s war production

The U.S. Treasury Department on Wednesday announced new sanctions on over 300 entities and individuals aimed at cutting off Russia’s access to products and services needed to sustain military production for its war in Ukraine, including dozens of Chinese components suppliers. The announcement, along with new Commerce Department export restrictions on semiconductors and other technology […]

ECB says many euro zone banks dragging their feet on loan-loss provisions

Many euro zone banks are still far from meeting accounting rules on the provisions needed to protect against loan losses, despite some progress in factoring in climate risks, the European Central Bank’s top supervisor said on Tuesday. A decade-old accounting standard designed to avoid a new banking crisis requires lenders to make an upfront provision […]

Global equity funds rack up robust weekly inflows on rate cut bets

Global investors returned to equity funds in the seven days to June 5, powered by optimism that major central banks would cut interest rates as inflation moderated, while a drop in U.S. bond yields also lifted risk sentiment. Investors pumped in a net $8.9 billion into global equity funds during the week, in contrast to […]

UK’s Asda says TDR Capital to become majority owner

 Britain’s Asda said on Friday that private equity firm TDR Capital will gain majority ownership of the supermarket group by acquiring Zuber Issa’s share in the business, which is still 10% owned by U.S. giant Walmart Inc (WMT.N), opens new tab. Buying Zuber Issa’s 22.5% stake will give TDR 67.5%, with 22.5% still owned by his […]