Backlink: THE BL China National Railway Group Co., Ltd had a total debt of 6 trillion yuan ($874.79 billion) and a net loss of 80.4 billion yuan ($11.72 billion) in the first half of this year, more than the total losses of the three major airlines on the mainland. The financial report for the first […]
Read More… from China National Railway Corporation’s debt and losses are huge
Backlink: THE EPOCH TIMES The Internal Revenue Service (IRS) said on Friday it accidentally exposed but has since removed the confidential financial information of about 120,000 taxpayers. In a letter to Homeland Security Chairman Rep. Bennie Thompson (D-Miss.), Treasury Department acting Assistant Secretary for Management Anna Canfield Roth wrote that the IRS “recently identified an inadvertent and […]
Read More… from IRS Mistakenly Published Confidential Info of 120,000 Taxpayers
Backlink: THE BL One of China’s richest men is being investigated by the U.S. Department of Justice for money laundering. An exception to the almost absolute anonymity behind cryptocurrency transactions are centralized exchanges, such as Binance. Because of this, in 2020, the U.S. Department of Justice asked Zhao and 12 other company executives and […]
Read More… from US investigates Binance CEO Changpeng Zhao for money laundering
Backlink: REUTERS Europe’s largest economy and manufacturing powerhouse is among the most vulnerable to any cut-off in energy supplies or rising costs as its industrial sector relies heavily on Russian gas. The Aug. 29 – Sept. 1 Reuters poll showed Germany would see three consecutive quarters of negative growth, surpassing the definition of a […]
Read More… from German Economy Likely Already in a Recession, Will Last Three Quarters
Backlink: REUTERS The dollar edged back from a 20-year high on Friday as traders digested a report that showed the pace of hiring rose slightly more than expected in August, giving the Federal Reserve some wiggle room in how aggressively it hikes interest rates later this month. Nonfarm payrolls rose by 315,000 jobs in […]
Read More… from Dollar at 2-decade high as U.S. job data looms
Backlink: THE BL Since the Chinese regime came to power, it has used all measures to implement its policies, and propaganda and disinformation have been great tools. Although in the economic field, the Chinese Communist Party (CCP) has allowed foreign brands to enter the Chinese market, recently, the famous brands Adidas and Nike suffered […]
Read More… from Chinese regime boosts local sports companies by a boycott of Nike and Adidas
Backlink: REUTERS U.S. stocks closed lower on Monday, adding to last week’s sharp losses on nagging concerns about the Federal Reserve’s determination to aggressively hike interest rates to fight inflation even as the economy slows. […]
Read More… from Wall Street retreats as rate hike concerns persist
Backlink: THE BL China has been developing and experimenting with a digital yuan, a central bank digital currency (CBDC), with China’s blockchain. China, one of Bitcoin’s biggest opponents, has taken the lessons being learned around the new technology and appropriated it to service its population. A blockchain is a secured public ledger that tracks every […]
Backlink: NIKKEI ASIA Spate of profit warnings reveals extent of risk to broader financial system. Troubling news continues to flow from China’s property market as a series of mainland developers report sharp slowdowns and even reversals from last year’s robust first-half profits before the current crisis unfolded. As the government struggles to shore up […]
Read More… from Loan woes: China’s troubled property market hits banks
Backlink: NIKKEI ASIA Authorities pounce on the cases, highlighting the sector’s risk factor. China’s banking regulator announced on Friday that two local banks in the northeastern province of Liaoning have entered bankruptcy procedures. The cases seem relatively modest, but the careful handling by authorities highlights the latent risks carried by the country’s smaller lenders. […]
Read More… from Two Chinese local banks enter bankruptcy procedures
Backlink: VISIONTIMES The National Energy Assistance Directors Association (NEADA) was paraphrased as describing the situation as “the worst crisis the group has ever documented” in Aug. 23 comments to Bloomberg revealing the statistic. Data shared illustrated that the total overdue utility balance across all households piled up to $16 billion, up from $14 billion from January and […]
Read More… from Almost 20% of US Households Past Due on Utility Bills
Link: THE BL Major banks such as JPMorgan Chase, Citigroup, and Bank of America are collectively facing more than $1 billion in regulatory fines, after employees used unapproved communication tools, such as private email and messaging apps like WhatsApp. The U.S. Securities and Exchange Commission (SEC) discovered the violations after probing several banks’ record-keeping practices […]
Link: THE EPOCH TIMES The injunction applies to the 13 states that sued the Biden administration over the moratorium in March 2021, including Alabama, Alaska, Arkansas, Georgia, Louisiana, Mississippi, Missouri, Montana, Nebraska, Oklahoma, Texas, Utah, and West Virginia. Terry Doughty, the U.S. district judge for the Western District of Louisiana, ruled that the White […]
Read More… from Judge Permanently Blocks Biden Oil and Gas Leasing Pause in 13 States
Backlink: THE BL According to Bloomberg, Chinese real estate developers have lost at least $90 billion of their stock values and dollar bonds in the property crisis that has been hitting the sector with insolvency and sharp drop in the housing business. […]
Read More… from Property crisis wipes out $90 billion of Chinese real estate developers: Report
