China recently released its consumer price index report for August, showing a 0.6% year-on-year increase. This figure was slightly below expectations, with costs of transportation, home goods, and rents experiencing a decline. Food prices, on the other hand, saw a significant rise of 2.8% year-on-year in August, marking the first positive trend since June 2023.
Finance
Seven & i Holdings, the parent company of 7-Eleven, recently rejected a takeover offer from Alimentation Couche-Tard. The company stated that the offer was not in the best interest of its shareholders and stakeholders. The proposal offered by Couche-Tard was deemed opportunistic and undervaluing Seven & i’s standalone path and potential for unlocking shareholder value.
The exchange-traded fund industry has witnessed a surge in inflows, surpassing monthly records in 2024. Managers are optimistic that the influx of funds could be influenced by the booming money market fund sector before the end of the year. Nate Geraci, the president of The ETF Store, highlighted the significant impact of the $6 trillion-plus
China’s policymakers are facing the critical task of boosting domestic demand in order to combat deflationary pressures within the economy. Former head of the People’s Bank of China, Yi Gang, emphasized the importance of improving domestic demand as a key strategy to address the challenges faced by the real estate market and local government debt
In a bold move to revolutionize the payment industry, Visa has announced its plans to launch a dedicated service for account-to-account (A2A) payments in Europe, skipping traditional credit cards and direct debit methods. This innovative approach aims to provide users with more control and security over their transactions, ultimately redefining the way people make payments
Zilch, a British financial technology firm, recently celebrated a significant milestone in its journey towards success. The company reported its first-ever month of profit in July 2024, just four years after its founding date. This achievement is particularly noteworthy in the highly competitive buy now, pay later space, where Zilch competes with industry giants like
China’s property market struggles and U.S. sanctions have had a significant impact on various cities across the country. The Milken Institute’s best performing cities China index has been monitoring China’s large- and mid-sized cities since 2015, focusing on their economic vibrancy and growth prospects. The latest version of the index compares data for 2023 with
Warren Buffett’s Berkshire Hathaway recently achieved a significant milestone by reaching a market capitalization of $1 trillion. This makes it the first non-technology company in the U.S. to accomplish this feat. The growth in the company’s value has exceeded that of the S&P 500 and comes at a time when Buffett is about to turn
The British fund manager abdrn recently predicted that the U.S. economy is headed for a soft landing in 2025. However, Kenneth Akintewe, the company’s head of Asian sovereign debt, expressed concerns about the potential for a prolonged slowdown. In an interview with CNBC’s “Squawk Box Asia,” Akintewe raised the question of whether the Federal Reserve
China’s gaming industry recently made a significant leap onto the global stage with the release of Black Myth: Wukong. This top-tier video game, set in mythological China, shattered world records by selling over 10 million units within just three days of its launch on Aug. 20. The game continued its impressive streak by still ranking
