China stocks plunge more than 8 percent, their biggest one-day drop in more than eight years, as a government-triggered rebound peters out amid profit-taking, concerns over economic health and fears of an end to Beijing’s inclination toward looser monetary policies.
PayPal begins trading separately on the Nasdaq, creating a new company that analysts say is worth more than $50 billion (USD). PayPal shares soared to $42.55 in early trading, on its trading debut after it split from e-commerce company eBay.
(Next Media Online) – China stock markets went into complete meltdown on Tuesday and Wednesday after being in free fall since June 12.
(Reuters Business Report) – They traded everything, from corn and soybeans to crude oil futures, shouting orders and making trades. But for Chicago futures traders, as of Tuesday morning, the floor of the CME will be quiet. Open outcry ended at the closing bell on Monday, capping a 167 year run in the city where it was born.
(Reuters Business Report) – By now, you’ve probably heard that China’s stock market is swinging wildly.
Sparking panic as one of the world’s biggest economies experiments with a free market.
But what exactly is behind all of the uncertainty?
(REUTERS) – Meet Lu Tingbo, a physics major at Peking University who’s also an active investor – managing about about 800,000 dollars cobbled together from family, friends and schoolmates.
John Cryan, former UBS Chief Financial Officer and on Deutsche Bank’s supervisory board, has been appointed the latter’s new Chief Executive Officer, as the bank tries to clean up its image.
Former trader Tom Hayes, on trial for allegedly conspiring to rig benchmark interest rates, has admitted to being motivated by greed and was fired by U.S. bank Citigroup in 2010, prosecutors tell a London court.
(BVO) – Growing competition for political influence in Asia, as the U.S. pivot to the region hits a hiccup.
A long list of countries ranging from Denmark to Australia signing up to join the China-led Asian Infrastructure Investment Bank – leaving the U.S. and key ally Japan out in the cold.
(BVO) – A new clash between the U.S. and China in the bid for influence in fast growing Asia.
Beijing has taken the lead in jump-starting a new government-funded infrastructure bank – the AIIB – recently gaining the support of traditional U.S. ally Great Britain for the 50-billion dollar project.