Hong Kong tycoon Li Ka-shing’s foundation has recently reduced its stake in the Postal Savings Bank of China, cashing out HK$122 million (about $15.6 million). Market observers speculate that Li Ka Shing Foundation’s sale of its shares on May 11 is a sign that Li is pessimistic about the long-term outlook of China’s economy, as…
Hong Kong Billionaire Reduces Stake in Chinese Bank Amid China’s Banking Troubles
Bankers ‘Shocked’ by Federal Budget Bill Clause That Allows 30-Year Retroactive GST Audit
A group of 60 Canadian banks has told a Senate committee they were shocked to learn the federal government’s omnibus budget bill includes a clause allowing a retroactive GST audit on credit card issuers going back 30 years. “Retroactively taxing past transactions, especially in the face of court rulings to the contrary, erodes investor confidence…
Chinese Banks See Surge in Bad Loans Amid Real Estate Woes
China’s major banks are grappling with a surge of non-performing loans (NPLs) since last year, largely driven by a weakening real estate sector. As of the end of 2022, the NPL balance of 40 listed Chinese banks climbed by 8.84 percent to 1.81 trillion yuan (approximately $262.3 billion), while the NPL ratio slightly slid by…
Large Banks at Risk of Deposit Runs, Despite Size
Commentary Putting aside fraud or criminal activity, banks typically fail in one of two ways: either through insolvency or illiquidity (or both). Insolvency occurs when the bank doesn’t have enough assets to cover its liabilities. Insolvency tends to emerge gradually; for example, when it develops from deteriorating “main street” economic conditions. On the other hand,…
European Banks Are Not Immune to the Turmoil in US Banking
Commentary Deposits at U.S. commercial banks have fallen to the lowest figure in nearly two years, according to the Federal Reserve. This figure has fallen by $500 billion since the Silicon Valley Bank collapse. However, total banking credit has risen to a new record high of $17 trillion, according to the U.S. central bank. Less…
LIVE 7 AM ET: NTD Good Morning (May 5): More U.S. Bank Shares Tumble; Explosion at Massachusetts Pharmaceutical Plant Kills 1
Regional banks are going through another sell-off after PacWest’s stock plunge. What’s going on there and is you money safe in the bank? An explosion at a chemical plant in Massachusetts. One worker is dead and four others were sent to the hospital. A U.S. Senator demands an explanation. The Crisis at the U.S.-Mexico border could soon…
NTD Good Morning (May 5): More U.S. Bank Shares Tumble; Explosion at Massachusetts Pharmaceutical Plant Kills 1
Regional banks are going through another sell-off after PacWest’s stock plunge. What’s going on there and is you money safe in the bank? An explosion at a chemical plant in Massachusetts. One worker is dead and four others were sent to the hospital. A U.S. Senator demands an explanation. The Crisis at the U.S.-Mexico border could soon…
NTD Good Morning (May 5): More US Bank Shares Tumble; Explosion at Massachusetts Pharmaceutical Plant Kills 1
Regional banks are going through another sell-off after PacWest’s stock plunge. What’s going on there and is your money safe in the bank? In an explosion at a chemical plant in Massachusetts, one worker was dead and four others were sent to the hospital. A U.S. senator demands an explanation. The crisis at the U.S.-Mexico…
NTD Evening News (May 4): GOP Lawmakers Demand Biden Docs From FBI; Mayorkas Visit to Southern Border ‘Performative’: Strategist
Two top Republicans are demanding that the FBI turn over documents related to President Joe Biden. An unnamed whistleblower claims the documents show Biden was involved in a criminal scheme when he was vice president. U.S. Homeland Security Secretary Alejandro Mayorkas is visiting the southern border before COVID-era immigration policy Title 42 expires. NTD speaks…
LIVE 6:30 PM ET: NTD Evening News (May 4): GOP Lawmakers Demand Biden Docs From FBI; Mayorkas Visit to Southern Border ‘Performative’: Strategist
Two top Republicans are demanding that the FBI turn over documents related to President Joe Biden. An unnamed whistleblower claims the documents show Biden was involved in a criminal scheme when he was vice president. U.S. Homeland Security Secretary Alejandro Mayorkas is visiting the southern border before COVID-era immigration policy Title 42 expires. NTD speaks…
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