Business

Largest U.S. banks face $120 billion shortfall under new rule

Six big U.S. banks need to raise an additional $120 billion, most likely in long-term debt, under a rule proposed on Friday by the Federal Reserve. The requirements are aimed at ensuring that some of the biggest and most interconnected banks, which include Goldman Sachs Group Inc,, JPMorgan Chase & Co,, and Wells Fargo & Co, can better withstand another ...

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Asia’s factories struggle with global demand gulf

Activity in China’s colossal factory sector shrank in October as global demand stuttered, reinforcing the case for more stimulus and questioning whether the Federal Reserve can be confident enough to raise U.S. interest rates this year. A crop of industry surveys out on Monday pointed to another poor month for trade across Asia as activity contracted in South Korea, Taiwan ...

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China’s October factory, services surveys show economy still wobbly

Activity in China’s manufacturing sector unexpectedly contracted in October for a third straight month, an official survey showed on Sunday, fuelling fears the economy may still be losing momentum in the fourth quarter despite a raft of stimulus measures. Adding to those concerns, China’s services sector, which has been one of the few bright spots in the economy, also showed ...

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China home price gains quicken in October

Growth in Chinese new home prices quickened in October from a year ago, two private surveys showed, adding to signs of stabilization in the housing market after a raft of government support measures. Prices of new homes in 288 cities rose an average 1.4 percent in October from a year earlier, marking the third straight month of gains, a poll ...

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Apple Earnings Will Tell Us Whether to Expect Happy Holidays or a Long Winter

Apple will unwrap its outlook for the holiday shopping season on Tuesday, and analysts expect growth—just nothing on par with last year’s bonanza. The holiday quarter is projected to bring Apple sales of $77 billion and profit of $18.1 billion, or $3.22 a share, according to data compiled by Bloomberg. That would work out to sales growth of 3.4 percent, ...

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Yellen, consensus-builder, needs to send strong signal at Fed meet

Federal Reserve Chair Janet Yellen, praised as an adept listener and consensus builder, may need to adopt a stronger tone at this week’s policy meeting if she expects to keep a December interest rate rise in play. Yellen’s inclusive style has been tested recently by two fellow governors who publicly appeared to disagree with her view, shared by Vice Chair ...

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U.S. housing, jobs data point to fairly strong economy

U.S. home resales rebounded strongly in September and new applications for unemployment benefits hovered around 42-year lows last week, pointing at solid domestic fundamentals even as the global economy falters. Thursday’s upbeat housing and labor market reports could keep the door open to an interest rate hike from the Federal Reserve by the end of the year. “The market has ...

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Euro zone inflation, U.S. jobs set to dominate

Euro zone inflation and U.S. jobs data will offer clues to the health of major developed economies in the coming week while the malaise gripping emerging markets is expected to prompt India to cut interest rates. China may release monthly foreign exchange reserve data indicating how much more the central bank has spent on steadying the yuan following Aug. 11’s ...

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China Outbound Investment Expands as Nation Boosts Global Clout

China’s long-term outbound investment is catching up with inbound foreign investment, bringing the country closer to becoming a net exporter of funds as it boosts its global economic clout. Outbound investment in yuan terms jumped 29.2 percent in the first half from a year earlier, dwarfing the 8.3 percent gain in foreign direct investment inflows, the Ministry of Commerce said ...

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