Costco brings back purchase limits on toilet paper, cleaning supplies and more.
China’s housing regulator has stepped up oversight of China Evergrande Group’s bank accounts to ensure funds are used to complete housing projects and not diverted to pay creditors.
Tesla Musk's Says He Thinks Semiconductor Crisis To Be Short Term
BREAKING: #Evergrande misses bond payment deadline
2 investors said the deadline of midnight New York time had passed without any notice from Evergrande, but the company has a 30-day grace period to send the funds before it is officially in default.
The share of US household net worth of the bottom 50% is near the lowest it has ever been at 2%, and half where it was in 1991.
The share of US household net worth of the top 1% is 32.1%, the highest on record.
China Central Bank Says Will Strengthen Management Of Information On Internet About Cryptocurrencies.
*PEOPLE'S BANK OF CHINA SAYS ALL CRYPTO-RELATED TRANSACTIONS ARE ILLEGAL.
Sept 23 (Reuters) - Twitter Inc (TWTR.N) will allow people to tip their favorite content creators with bitcoin and will launch a fund to pay some users who host audio chat rooms on its Spaces feature, the company said on Thursday.
WASHINGTON (Reuters) - The top two Democrats in the U.S. Congress on Thursday said they had reached a deal to pay for President Joe Biden's sweeping social agenda, as the White House warned federal agencies to begin preparing for the possibility of a government shutdown.
(Reuters) - McDonald's Corp (NYSE:MCD) said on Thursday it would restart share buybacks and also increased its quarterly dividend by 7%, as the world's largest fast food chain recovers from the impact of the COVID-19 pandemic.
China's central bank again injected cash into the banking system on Friday, seen as a signal of support for markets. But authorities have been silent on Evergrande's predicament and China's state media has offered no clues on a rescue package.
SINGAPORE (Reuters) -China Evergrande inched closer on Friday to the potential default that investors fear as an interest deadline expired without any announcement from the property giant whose mountain of debt has spooked world markets.
(Reuters) - Federal Reserve Chairman Jerome Powell remains favored for renomination by the White House, and if recent history repeats itself a decision may come at any time before the central bank meets again in early November.
SHANGHAI (Reuters) - China's newly-established Beijing Stock Exchange has said it plans to run two comprehensive technical tests with market players, one as early as Saturday, in a sign that the start of trading could be imminent.
The S&P 500 posted 26 new 52-week highs and four new lows; the Nasdaq Composite recorded 97 new highs and 47 new lows. Volume on U.S. exchanges was 9.84 billion shares, compared with the 10.07 billion average for the last 20 trading days.
(Reuters) - U.S. stocks gained more than 1% on Thursday as investors appeared relieved about the Federal Reserve's stance on tapering stimulus and raising interest rates.
Nike reports Q1 EPS $1.16, consensus $1.11
Reports Q1 revenue $12.2B, consensus $12.46B
*US Jobless Claims +16K To 351K In Sep-18 Wk; Survey 320K
*US Sep-11 Week Continuing Claims +131K
EVERGRANDE EV UNIT HAS STOPPED PAYING STAFF, FACTORY SUPPLIERS.
$CRM Raises again FY22 Rev $26.3-26.4B (prior $26.2-26.3B) - PR ahead of investor day (salesforce inc)
- Guides initial FY23 Rev $31.7-31.8B v $31.3Be, non-GAAP operating margin ~20.0%
*China Asks Local Governments to Prepare for Potential Downfall of Evergrande Group - Sources.
*Local Developers May Be Asked to Take Over Evergrande Projects - Sources.
*Local Governments Asked to Assemble Financial, Legal Experts to Assess Possible Evergrande Impact - Sources.
$3333.HK China's financial regulators said to have given instructions to Evergrande in order to avoid near-term dollar bond default - press (#Evergrande Real Estate Group).
(Reuters) -The Federal Reserve will "soon" release research examining the costs and benefits of a central bank digital currency, or CBDC, Fed Chair Jerome Powell said on Wednesday.
(Reuters) - Star stock picker Cathie Wood, head of ARK Invest, on Wednesday said she believed the U.S. stock market is not overvalued, and she talked up Tesla (NASDAQ:TSLA), her largest holding.
(Reuters) -Canada's BlackBerry (NYSE:BB) Ltd beat Wall Street estimates for second-quarter revenue on Wednesday amid strong demand for its cybersecurity and Internet of Things software products.
WASHINGTON (Reuters) -The U.S. Food and Drug Administration on Wednesday authorized a booster dose of the Pfizer Inc (NYSE:PFE) and BioNTech COVID-19 vaccine for those 65 and older, all people at high risk of severe disease, and others who are regularly exposed to the virus.
The decision paves the way for a quick rollout of the booster shots as soon as this week for millions of people who had their second dose of the vaccine at least six months ago.
SINGAPORE (Reuters) - HSBC Holdings (NYSE:HSBC) PLC expects the debt problems involving embattled property developer China Evergrande Group to have an impact on capital markets but does not see any direct impact on the bank, its group CEO said.
(Bloomberg) -- Fitch Ratings lowered China’s economic growth projections for 2021 and 2022 as a slowdown in the property market weighs on domestic demand.
Gross domestic product is forecast to expand 8.1% this year, down from a previous projection of 8.4%, while the forecast for 2022 was cut to 5.2% from 5.5%.
NEW YORK (Reuters) - Powell clarified repeatedly that the criteria for tapering is very different than criteria for raising rates, which is much higher" and will have more of a market impact, he said.
HONG KONG (Reuters) - Investors were also focused on the U.S. Federal Reserve, which said overnight it will likely begin reducing its monthly bond purchases as soon as November and signalled interest rate increases may follow more quickly than expected.
Fed Chair Jerome Powell said board members believed tapering could conclude around mid-2022, opening the way for rate hikes after that.
HONG KONG (Reuters) - Asian shares moved higher on Thursday, supported by some positive news from struggling developer China Evergrande Group, while the dollar held near a one-month top after the U.S. Federal Reserve took a hawkish tilt overnight.
$GOTU - Gaotu Techedu reports Q2 EPS (83c), consensus (22c)
Reports Q2 revenue $345.73M, consensus $387.45M
Sources close to the Chinese Government have told Asia Markets a deal that will see China Evergrande restructured into three seperate entities is currently being finalised by the Chinese Communist Party and could be announced within days.
State-owned enterprises will underpin the restructure, effectively transforming the property developer into a state-owned enterprise.“The deal is being designed to protect Chinese nationals who have bought apartments from Evergrande, like the ones you see protesting on the streets and also those who have invested in Evergrande’s wealth management products,” the source said - Asiamarkets
MOSCOW (Reuters) - Russia will spend around 2.5 trillion roubles ($34 billion) from its National Wealth Fund (NWF) in the next three years to help revive economic growth after the pandemic but must also take care not to drive up inflation, officials said on Tuesday.
SINGAPORE (Reuters) - Stocks found support and U.S. futures lifted in relief on Wednesday after teetering developer China Evergrande said it would pay some bond interest due on Thursday, allaying fears of an imminent and messy collapse that had spooked investors.
WASHINGTON (Reuters) - The Federal Reserve is expected to clear the way on Wednesday for reductions to its monthly asset purchases later this year.
TOKYO (Reuters) -The Bank of Japan kept monetary policy steady on Wednesday but offered a bleaker view on exports and output, reinforcing expectations the bank will maintain its massive stimulus even as major counterparts eye a withdrawal of crisis-mode support.
SHANGHAI (Reuters) -China Evergrande Group's main unit said on Wednesday that it would make a bond interest payment on Sept. 23 after private negotiations with bondholders, as global investors worry over a possible default by China's No. 2 property developer.
The company did not detail its plan for interest payments, saying only that the bond "has already been resolved through private negotiations."
NEW YORK (Reuters) - Fund giant BlackRock (NYSE:BLK) and investment banks HSBC and UBS were among the largest buyers of the debt of embattled Chinese real estate developer Evergrande Inc, Morningstar data shows. BlackRock added 31.3 million notes of Evergrande's debt between January and August 2021, pushing its stake in the company to 1% of the assets in its $1.7 billion Asian High Yield Bond Fund, according to Morningstar.
WASHINGTON (Reuters) - Democrats in the House of Representatives passed a bill on Tuesday to fund the U.S. government through Dec. 3 and suspend the nation's borrowing limit until the end of 2022, sending it to the Senate where Republicans have vowed to block it.
On Tuesday, McConnell reiterated that vow. But he also said: "I want to repeat once again: America must never default. We never have and we never will."
Q3 EPS $3.11 vs est. $3.01
Revenue $3.94B vs est. $3.89B
GUIDANCE: Q4 2021 EPS $3.18 vs est. $3.08
Q4 2021 revenue $4.07B vs est. $4.04B
El Salvador bought the dip again, adding $6.4 million of #Bitcoin this time.
EVERGRANDE MISSED PAYMENTS DUE MONDAY TO AT LEAST TWO BANKS - BBG.
- Said to have not made the payments as of late Tuesday local time.
BofA Cuts China Real GDP Growth Forecast For 2021 To 8.0% From 8.3% Previously
For 2022 To 5.3% (Pvs 6.2%)
And For 2023 To 5.8% (Pvs 6.0%)
$AAPL Reportedly researches iPhone features to help detect depression and cognitive decline via typing metrics, facial recognition (Apple Inc)
- Partners include Biogen $BIIB
- Also studying whether iPhone could detect autism
In Mr. Xi’s opinion, private capital now has been allowed to run amok, menacing the party’s legitimacy, officials familiar with his priorities say. The Wall Street Journal examination shows he is trying forcefully to get China back to the vision of Mao Zedong, who saw capitalism as a transitory phase on the road to socialism - Bloomberg.
(Reuters) - U.S. regulators could authorize a booster shot of the Pfizer (NYSE:PFE) Inc/BioNTech SE COVID-19 vaccine for older and some high-risk Americans early this week in time for the government to roll them out by Friday.
PARIS/AMSTERDAM (Reuters) -Universal Music Group, the business behind singers such as Lady Gaga, Taylor Swift and The Weeknd, is valued at around 33.5 billion euros ($39.30 billion) ahead of the record label's stock market debut in Amsterdam on Tuesday.
BEIJING/HONG KONG (Reuters) - China's sweeping regulatory crackdown of recent months does not aim to rein in the country's private enterprises or decouple from the United States or international financial markets, a top Chinese regulatory official told Wall Street leaders last week.
The actions instead intend to strengthen the regulation of consumer-facing platform companies with a key role in promoting "common prosperity", or easing wealth inequality, China Securities Regulatory Commission (CSRC) Vice Chairman Fang Xinghai said at a private gathering, according to attendees.
(Reuters) - Coinbase (NASDAQ:COIN) Global Inc has scrapped its plan to launch an interest-yielding USD Coin (USDC) lending program, the cryptocurrency exchange said in a blog post. The move comes days after U.S. regulators said it would sue Coinbase if it went ahead with its program allowing users to earn interest by lending digital assets.