Markets

China trims lending rates with new benchmark, more rate cuts expected

China trims lending rates with new benchmark, more rate cuts expected The LPR is the commercial banks loan rate providing to their best customers. The rate is based on a weighted average of lending rates from nine commercial banks. The LPR, originally introduced by the PBOC in October 2013, is an interest rate that commercial banks charge their best clients and was meant to better reflect market demand for funds than the benchmark the PBOC sets. [Full Article...]

Del Monte facility in Mendota closing

Del Monte facility in Mendota closing DelMonte also will close a plant in Sleepy Eye, Minnesota.The company will sell manufacturing assets at its Crystal City, Texas facility and intends to transfer production at this site to outside locations later this year. "I feel really bad for the farmers, too, that plant the peas and the corn. We are hopeful a suitable buyer will resume operations". In Mendota, processed products include peas... [Full Article...]

Amazon Opens Its Largest Campus in the World in Hyderabad

Amazon Opens Its Largest Campus in the World in Hyderabad Amazon has 62,000 employees in India, roughly a third of whom are based in Hyderabad . "Amazon laid the foundation stone for the campus building on March 30, 2016". One reason could be that e-commerce is a very small portion of retail, probably just 3% of retail consumption. It was inaugurated by Telangana Home Minister Mohammed Mahmood Ali, Amazon Vice-President Global Real Estate and Faci... [Full Article...]

Trump defends China trade war, says ‘I am the Chosen One’

Trump defends China trade war, says ‘I am the Chosen One’ Trump's controversial trade war with China has been at the forefront of conversations on the economy in recent days amid fears of a looming recession in the USA. Chinese Foreign Ministry spokesman Geng Shuang reiterated a threat to put sanctions on USA companies that sell weapons to Taiwan, saying such sales are a serious interference in China's internal affairs and violation of Chinese sovereig... [Full Article...]

UK to 'skip most EU meetings from Sept 1'

UK to 'skip most EU meetings from Sept 1' While UK chancellor Sajid Javid said the move would help "ease the flow of goods at border points and support businesses to trade and grow", business lobby groups said that more should be done to prevent a no-deal Brexit in the first place. [Full Article...]

United Kingdom tech firms attract record £5.5bn in foreign investment

United Kingdom tech firms attract record £5.5bn in foreign investment Funding came mostly from the States itself and Asia and was funnelled into investments in so-called unicorn companies that valued at over $1.0bn each, such as a renewable energy company Ovo Energy and takeaway business Deliveroo , according to the new research conducted by Tech Nation and Dealroom. [Full Article...]

Greene King agrees £2.7bn sale to Hong Kong's CKA

Greene King agrees £2.7bn sale to Hong Kong's CKA The Company's retail brands and formats include Greene King Local Pubs, Hungry Horse , Flaming Grill, Farmhouse Inns, and Chef & Brewer. Hong Kong-listed CK Asset said it believes that pubs "will continue to be an important part of British culture and the eating and drinking out market". [Full Article...]

Trump admin plans to allow longer detention of migrant families

Trump admin plans to allow longer detention of migrant families In recent months, the administration has proposed rules that could make it more hard for immigrants to get green cards, worked to end temporary protected status for migrants from certain countries and limit avenues to declare asylum . Trump has struggled to respond to an unprecedented influx of undocumented migrants at the U.S. -Mexico border, mostly people from Guatemala, El Salvador and Hondu... [Full Article...]


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