Finance - Kbin chat

U.S. bank JPMorgan Chase says its stress test exam result should be worse than what the Federal Reserve disclosed ( www.jpmorganchase.com )

After the Federal Reserve disclosed JPMorgan Chase's stress test results 2024, the bank said in a statement that the Fed's projections for a particular asset - the 'Other Comprehensive Income (“OCI”) - was overestimated....

China’s Rich Spend Millions on Shanghai Property ( www.bloomberg.com )

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China’s risky answer to wall of debt is more debt ( www.reuters.com )

China’s economy is buried under a great wall of debt and Xi Jinping’s answer is to add more bricks. The president has sanctioned an extraordinary programme of borrowing by the central government to steer the $18 trillion behemoth to “high quality development”. In doing so, he is piling risk onto the country’s last...

A minority of wealthy countries opposing a legally binding U.N. global tax convention may seek to water it down, risking the convention becoming as “inconsequential as the OECD”, experts warn ( www.icij.org )

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'We have no choice now’: Desperate to circumvent sanctions and do business with China, Russian companies resort to bartering and cryptocurrency pegged to the U.S. dollar ( meduza.io )

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Russia inflation hits new 2024 peak, Central Bank warns of ‘significant’ rate hike ( www.bloomberg.com )

Russian inflation accelerated in May to the highest in more than a year, adding to pressure on the central bank to hike the key rate to curb price growth....

Deadly and Wildly Profitable, Uranium Fever Breaks Out: The radioactive metal’s price is up 233%, revealing the speed at which the world is embracing nuclear power once again. ( www.bloomberg.com )

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China’s credit engine, which once powered industries and markets all over the world, is stuck in low gear – and set to stay there ( www.bloomberg.com )

Data for May due this week is forecast to show a resumption of loan growth after a shock contraction in April, the first for almost two decades. But nobody expects a return to the days when Beijing would engineer borrowing booms to speed up the world’s second-biggest economy....

G-7 Leaders to Agree to Tap Frozen Russian Assets, Giving Ukraine additional $50 billion of Aid, France Says ( www.bloomberg.com )

Group of Seven leaders are set to reach a political agreement to provide Ukraine with $50 billion of aid using the profits generated by frozen Russian sovereign assets, according to an Elysee official....

China’s largest payments app debuts AI feature that checks if you’re balding ( cointelegraph.com )

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Is It Better to Rent or Buy? A Financial Calculator. ( www.nytimes.com )

These sliders are immensely helpful with quick estimates!

U.S.: President Biden Vetoes Congressional Bid to Void Securities and Exchange Commission Crypto Guidance ( www.bloomberg.com )

U.S. President Joe Biden vetoed a congressional resolution that would strike down US Securities and Exchange Commission (SEC) guidance that the crypto industry says has stymied its ability to work with banks....

2019-23 Van Gogh Museum Revenue ( beehaw.org )

Data slides...

Visa Adds New Way to Share Customer Shopping Data With Retailers ( www.bloomberg.com )

- Consumers’ preferences to be shared via proprietary tokens...

Ivan Boesky, Convicted of Insider Trading in 1980s, Dies at 87 ( www.bloomberg.com )

The financier symbolized high-flying 1980s Wall Street speculation. 'Greed is healthy,’ he once declared at a college commencement....

Reports on China’s Bad Lending Data Disappear on Chinese Social Media ( www.bloomberg.com )

- Total credit demand in China fell in April for first time since 2005...

Collapsed cryptocurrency exchange FTX says it has billions of dollars more than it needs to repay customers ( www.bbc.com )

The firm says that once it has sold off its remaining assets it will have as much as $16.3bn to cover the debts, which stand at around $11bn....

U.S. banks hold trillions of dollars off-balance sheet, in a replay of accounting hubris that led to the 2008 Wall Street collapse ( wallstreetonparade.com )

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China’s biggest chipmaker SMIC warns of ‘fierce’ competition as it misses quarterly profit expectations ( www.cnbc.com )

SMIC, China’s biggest contract chip manufacturer, is seen as critical to Beijing’s ambitions of cutting foreign reliance in its domestic semiconductor industry as the U.S. continues to curb China’s tech power. SMIC lags behind Taiwan’s TSMC and South Korea’s Samsung Electronics, according to analysts....

China’s property crisis leaves trail of ghost cities in Malaysia and Cambodia ( www.dailymirror.lk )

Reports say that round 20 percent of China's urban housing properties, roughly 65 million units, sit vacant. These "ghost cities" such as Tiandu Cheng, Thames Town, and Binhai sprawl across hundreds of square kilometers, boasting infrastructure, skyscrapers, and public spaces but are significantly underpopulated, with vast...