BEIJING—The Chinese regime’s revenue from land sales slumped for a fourth month in October compared with year-ago levels, as cash-strapped developers moved cautiously on land buying after tighter regulatory curbs on new borrowing were established. The value of government land sales in October declined 13.14 percent from a year earlier to $89.90 billion, after suffering…
Global Companies Set to Deliver Record Dividends This Year
November 19, 2021
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Global corporate dividends are set to reach a record high this year, as a rebound in business activity and a rise in consumer demand boosted profits for most sectors which were hit by the pandemic last year. According to a Reuters analysis of Refinitiv data for 3,394 global companies with market capitalization of at least…
Bosch Workers Protest Against Factory Closures, Job Cuts
November 19, 2021
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BERLIN—Several thousand workers at autos supplier Robert Bosch protested in Germany on Friday against planned plant closures and job relocations which the company said are needed to adapt to changing demand in the transition to electric vehicles. Around 3,000 workers from various plants gathered outside a Bosch plant in Buehl, union IG Metall said, where…
BoE’s Pill Sees Growing Case for December Rate Rise, but No Guarantee
November 19, 2021
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BRISTOL, England—Bank of England chief economist Huw Pill said the weight of evidence was shifting towards a rise in interest rates next month but that he had not made a decision, and markets would do better to focus on the longer term. Speaking to reporters at an economics conference in Bristol, Pill also cautioned against…
Equity Funds 2021 Inflows Hit $1 Trillion: BofA
November 19, 2021
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LONDON—Investors ploughed $13.2 billion into equity funds in the week to Wednesday, though fixed income inflows slowed and precious metals funds lost money as markets grappled with the prospect of rising yields and inflation, BofA said on Friday. Flows to stocks funds over the past week had helped lift total inflows into equities to $1.0…
Evergrande to Be Removed From Hang Seng China Enterprises Index
November 19, 2021
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HONG KONG—Embattled developer China Evergrande Group will be removed from Hong Kong’s Hang Seng China Enterprises Index, the benchmark provider said on Friday following its regular quarterly review. The Hang Seng Indexes Company does not typically give reasons for changes to its indexes, and did not in Friday’s statement. The Hang Seng China Enterprises Index…
Nasdaq Futures at Record High as Economic Concerns Drive Tech Demand
November 19, 2021
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Nasdaq index futures hit a record high on Friday as investors sought economically stable sectors after a small delay in voting on President Joe Biden’s $1.75 trillion spending bill, while rising COVID-19 cases in Europe also dented sentiment. S&P and Dow futures fell tracking losses in banks, airlines, and other economically sensitive sectors. Uncertainty over…
South Korean Tech Companies Double Down on US Investments, Shifting Away From China
November 19, 2021
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Earlier this month, South Korea’s tech conglomerate SK Group announced plans to invest $52 billion in the United States. Experts suggest the group’s latest commitment signals South Korea’s big shift from the Chinese supply chain. On Oct. 31, South Korean President Moon Jae-in attended a global supply chain summit convened by U.S. President Joe Biden…
Deutsche Bank and Commerzbank Warn on Inflation; BNP Wants Growth
November 19, 2021
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FRANKFURT—The chief executives of Germany’s two top banks, Deutsche Bank and Commerzbank, warned about inflation on Friday, while the chairman of BNP Paribas said the real issue is growth. The bankers were speaking at a conference in Frankfurt as investors closely watch the European Central Bank for its reaction to accelerating inflation. Deutsche Bank CEO…
ECB Should Not React to Current Inflation Spike: Lagarde
November 19, 2021
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FRANKFURT—European Central Bank President Christine Lagarde said on Friday that inflation in the euro zone will fade so the ECB should not tighten policy as it could choke off the recovery, and hinted at continued bond purchases next year. Inflation in the euro zone hit 4.1 percent in October, pushed up by higher energy costs,…
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