A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of China’s strategy to gain influence over global…
China’s ‘De-dollarization’ Efforts Are Part of a Strategy to Corner World Energy Markets
April 4, 2023
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Business & MarketsChinaCompaniesDe-Dollarizationeconomic policiesenergyGold and CommoditiesinflationInternationalization of Chinese yuanMarketsOPEC oilreserve currencyUS
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China’s ‘De-Dollarization’ Efforts Are Part of Strategy to Corner World Energy Markets
April 4, 2023
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Business & MarketsChinaDe-Dollarizationeconomic policiesenergyGold and CommoditiesinflationInternationalization of Chinese yuanMarketsOPEC oilreserve currencyUS
0 Comment
News Analysis A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of the Beijing regime’s strategy to…
China Seeks to Dethrone Dollar to Corner World Energy Markets
April 4, 2023
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Business & MarketsChinaDe-Dollarizationeconomic policiesenergyGold and CommoditiesinflationInternationalization of Chinese yuanMarketsOPEC oilreserve currencyUS
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News Analysis A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of the Beijing regime’s strategy to…
FDIC Looking to Sell $60 Billion Loan Portfolio It Acquired From Failed Signature Bank
April 4, 2023
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Business & MarketsCompanieseconomic policieseconomyFDICInvestmentloan portfolioMarketsNew YorkNY Real EstatePolicies & Impactsreal estateRegional & State NewsSignature BankState NewsUSUS News
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The Federal Deposit Insurance Corporation (FDIC) is looking to sell a $60 billion loan portfolio in the new few months, which it acquired in receivership following the collapse of Signature Bank last month. The portfolio mainly consists of commercial real estate loans (CRE), commercial loans, and a small pool of single-family residential loans, the FDIC said in a statement….
Branson’s Virgin Orbit Files for Bankruptcy After Failed Rocket Launch
April 4, 2023
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bankruptcyBusiness & MarketsCompanieseconomic policieseconomyScienceSpacespace rocketUKUSVirgin OrbitWorld
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Virgin Orbit filed for Chapter 11 bankruptcy after failing to get additional funding from its backers. The Long Beach, California-based satellite launch company, founded and owned by Richard Branson, failed to secure long-term funding it needed to recover from a January rocket failure in the United Kingdom. Branson had long had an ambition to become…
Wall Street Opens Mixed Ahead of Jobs Data; Tesla Gains
Wall Street’s main indexes opened mixed on Tuesday ahead of jobs data that could decide the Federal Reserve’s monetary tightening path, while Tesla gained as sales of its China-made electric vehicles rose in March. The Dow Jones Industrial Average fell 6.36 points, or 0.02 percent, at the open to 33,594.79. The S&P 500 opened higher…
Pound Hits Highest Since June, Euro up as Dollar Under Pressure
LONDON/SINGAPORE—The pound rose to a new 10-month high against the dollar on Tuesday, and the euro reached its highest in two months, as the greenback continued to be hurt by market bets that the end of the U.S. rate-hiking cycle is near. Sterling reached $1.2475, its highest since June 2022, and was last just below…
Oil Extends Gains on OPEC+ Surprise Cuts
April 4, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors’ attention shifting to demand trends and the impact of higher prices on the global economy. Brent crude futures were up 43 cents, or 0.5 percent, to $85.36 a barrel by 0925 GMT. U.S. West Texas Intermediate…
Shares Rise, but Concern Mounts Over Inflation Flare-Up
April 4, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks rose in cautious trade on Tuesday as investors grappled with the possibility of a flare-up in inflation due to the OPEC+ group’s surprise output cut, while the dollar sagged after weak U.S. manufacturing data the previous day. An announcement on Sunday of an output target cut by the Organization of the Petroleum Exporting…
Rental Market Bust Just Around the Corner, Experts Warn
April 4, 2023
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Business & Marketseconomic policieseconomyinflationInvestmentMarketspersonal financereal estatereal estate bubblerecessionrental costsUSUS NewsUS Real Estate
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The collapse of the U.S. rental market is just around the corner, some real estate experts warn. Rental prices finally dropped to pre-pandemic levels last month after millions of Americans struggled to keep up with skyrocketing housing costs since the start of the pandemic. In a series of recent tweets, Nick Gerli, the CEO & Founder of…
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