As China gets fatter, a market also expands
BEIJING | Via Caixin | As China gets richer, many of its people are becoming overweight, and businesses aimed at helping people improve poor lifestyles will prosper.
BEIJING | Via Caixin | As China gets richer, many of its people are becoming overweight, and businesses aimed at helping people improve poor lifestyles will prosper.
LONDON | By The Corner | The final estimate of the Barclays global manufacturing confidence reveals another improvement in June, as they had initially expected, from -0.10 to 0.05, the highest level since December last year. As anticipated in the preliminary readings, the rise was driven by improvements in manufacturing activity in the US, Japan and China, where the trend in the forward-looking new orders component suggested it should last well into the second half of the year. At the same time, activity in the euro area showed further signs of momentum loss, with expansion weakening in all the big five except for Spain.
MADRID | By Jaime Santisteban | Monetary policy has “major limitations” and regulation should play the lead role in combating excessive financial risk-taking,” said Fed’s chairwoman Janet Yellen on Wednesday at an event sponsored by the IMF.
MADRID | By Ana Fuentes | Everyone is commenting on BNP Paribas historic settlement and the eventual fines that other EU banks might face (read our yesterday’s post), and the missed opportunity to really punish their illegal practices. And yet no financial savvy is talking about Iceland’s Reykjavík County Court handing out severe prison sentences to four bankers for market manipulation and breach of fiduciary duty. As London-based Icelandic reporter Sigrún Davíðsdóttir explains, “this case is not one of the big ones involving major investors or bank managers (…), but there are other similar cases snarling their way through courts.”
BEIJING | By Huo Kan and Wu Hongyuran via Caixin | Starting July 1 banks in China are using a new method of calculating the loan-to-deposit ratio, a change that the regulator and analysts say will allow for more loans to be extended. The China Banking Regulatory Commission (CBRC) announced on June 30 the new set of rules for figuring the ratio, which is capped by law at 75 percent, meaning that banks cannot lend out more than three-quarters of the deposits they accept.
SAN FRANCISCO | By Atul Singh via Fair Observer | With 61% of its population under 24, Africa’s greatest challenge is finding jobs for its youth. The continent needs to provide employment to 200 million people aged between 15-24. As per the World Bank, youth account for 60% of Africa’s unemployed. The African Economic Outlook records extensively how the young fare in labor markets. Lack of demand for labor, absence of meritocracy, and lack of proper training are the top three barriers to getting a job.
This article was originally published on Fair Observer.
MADRID | Bankinter Analysis | 3Q Perspectives. Economic cycle speeds up and, mostly, gains soundness and reliability. Global growth will consolidate in 2014/2015 by +3%/+4% with positive news for developed countries and less favorable surprises in emerging markets. Japan and India are the exception to this rule. Spain will also amaze and main economic risk will lie in regional regional integrity issues whose aftermath may be undervalued, regardless the final scenario.
MADRID | By Álex García.
SINGAPORE/LONDON | By UBS analysts | Global growth has disappointed in the first half of this year. As a result, we have steadily marked down our forecasts for 2014. We now forecast global growth of 3.0% in 2014 and 3.3% in 2015 after 2.5% in 2013. At the turn of the year we forecasted 3.4% global growth for 2014 and 2015.
SHANGHAI | Via Caixin | To root out the graft that has seeped into every aspect of the society and economy, China must build institutions that put power under scrutiny. No one is off-limits in the government’s campaign against corruption. CCTV financial news channel director Guo Zhenxi was put under investigation late last month, three months after the sacking of security vice-minister Li Dongsheng, who also worked for the state broadcaster.