Saturday , 24 October 2020


Shadow Banking Threatens China’s Economy—but What Is It, Exactly?

Last week, the Shanghai interbank offered rate (Shibor), China’s once-anonymous version of London’s LIBOR, made news around the world when it suddenly spiked at all time high. Expected to lower this rate by injecting cash into struggling Chinese banks, the People’s Bank of China (the country’s equivalent of the Fed) instead did nothing, leading to speculation that China’s leaders were …

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U.S. Stocks Fall as Investors Weigh Fed Comments

U.S. stocks fell, with the Standard & Poor’s 500 Index snapping a streak of seven monthly gains, as comments from Federal Reserve Governor Jeremy Stein spurred concern the central bank may begin to reduce stimulus in September. Accenture Plc (ACN), the world’s second-largest technology-consulting company, slumped 10 percent after its quarterly sales forecast missed analysts’ estimates. International Business Machines Corp. lost 2.3 …

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