BEIJING—China Evergrande Group said on Sunday it had resumed work on more than 10 projects in six cities including Shenzhen—a statement that comes after it appeared to avert default with a last-minute bond coupon payment last week. Evergrande, deep in crisis with more than $300 billion in liabilities, has not disclosed how many of its…
China’s Debt-Ridden Evergrande Resumes Work on More Than 10 Property Projects
Treasury Secretary Says US Not Losing Control Over Inflation as Twitter CEO Issues Dire Warning
Twitter CEO Jack Dorsey issued a warning about rising inflation over the weekend as Treasury Secretary Janet Yellen on Sunday said the United States isn’t losing control. “Hyperinflation is going to change everything. It’s happening,” Dorsey wrote on Twitter, later continuing to say: “It will happen in the U.S. soon, and so the world.” During…
US Company Results in Industrial, Materials Sectors Could Shed Light on Inflation Woes
October 24, 2021
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NEW YORK—Corporate results in the industrial and materials sectors could offer a snapshot of how companies in a key swath of the U.S. economy are dealing with surging inflation, supply chain bottlenecks, and higher commodity prices. Companies in those sectors—which include logistics and transportation firms, major chemical makers and manufacturers, and suppliers for the aerospace,…
China Rolls Out Property Tax in Tackling a Real Estate Bubble
October 23, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyEconomieshousingMarket Watchproporty taxreal estateWorld
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Beijing is levying a long-resisted property tax in some Chinese regions to guide house-buying as the regime seeks to tame a growing housing bubble. The Standing Committee of China’s rubber-stamp legislature on Oct. 23 authorized the State Council to start taxing property owners. The scheme will last five years, and the State Council will determine…
China to Roll out Property Tax in Bid to Tame Surging Prices
October 23, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyEconomieshousingMarket Watchproporty taxreal estateWorld
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Beijing is levying a long-resisted property tax in some Chinese regions to guide house-buying as the regime seeks to tame real estate speculation. The Standing Committee of China’s rubber-stamp legislature on Oct. 23 authorized the State Council to start taxing property owners. The scheme will last five years, and the State Council will determine pilot…
Fed Report Shows Wage Pressures Amid ‘Modest to Moderate’ Economic Growth
U.S. employers reported significant increases in prices and wages even as economic growth decelerated to a “modest to moderate” pace in September and early October, the Federal Reserve said on Wednesday in its latest compendium of reports about the economy. “Outlooks for near-term economic activity remained positive, overall, but some Districts noted increased uncertainty and…
DeSantis Offers Florida Ports to Help Ease Supply Chain Pinch
October 23, 2021
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Business & EconomydesantisEconomieseconomyFloridaLocal NewsPoliticsRegional-Local NewsRepublicanssupply chainUSUS News
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Florida Gov. Ron DeSantis said the ports in his state can act as part of a solution to ongoing supply chain issues. “So we have capacity at all of our ports … We’ve got capacity, and all of our ports can offer these businesses good incentives if they reroute their ships,” he said during an…
EU Competition Commissioner Warns of More Anti-Cartel Raids, Criticises ‘No-Poach’ Deals
BRUSSELS—EU enforcers are planning a series of raids against companies suspected of illegal price-fixing, Europe’s antitrust chief warned on Friday, as she also sounded the alarm about competition in labor markets due to “no-poach” deals. The European Commission last week raided Europe’s largest pulp producers Stora Enso and UPM, and Metsa Board unit Metsa Fibre,…
AmEx Touts Appeal Among Young Users After Profit Beats on Spending Recovery
American Express Co. reported a higher profit that topped Wall Street estimates for the fourth straight quarter, as higher usage of its cards, particularly by millennial and Gen Z customers, fueled a strong recovery in overall spending. After months of stagnation, credit-card issuers like AmEx are starting to see a turnaround in spending with resumption…
Gas Inflation Kicks Drivers in the Pocket Book
Gas prices are the highest they have been in seven years, and they are going to keep on climbing through winter. Across the entire United States, the current average price for a gallon of gas is $3.37. The last time it averaged $3.37 a gallon was Sept. 17, 2014, according to records kept by AAA….
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