Chinese asset management giant Zhongzhi Enterprise Group has filed for bankruptcy and was unable to pay its debts, a Beijing court said on Friday. The development comes weeks after police opened an investigation into the group after the debt-ridden financial behemoth declared itself insolvent. According to a statement published by a Beijing court on WeChat,
[The content of this article has been produced by our advertising partner.] By Professor Veronique J.A. LAFON-VINAIS Associate Professor of Business Education, Department of FinanceHKUST Business School Family businesses include a wide range of businesses from small owner operations to large listed companies, which are significant contributors to the economies of Asia and the world. According
“Long term, I’m still very bullish. But near term I just worry that everybody is coming into the year feeling too good,” the Neuberger Berman senior portfolio manager told CNBC’s “Fast Money” on Tuesday. On the year’s first day of trading, the tech-heavy Nasdaq fell 1.6% percent, the S&P 500 fell 0.6%, and the Dow
Some of the best deals in investing and personal finance never get any hype or marketing, which means they’re quietly waiting for you to discover them. Here are five examples I have accumulated over the past year. Take a moment to see if any of them can help you in 2024: 4 per cent savings
The city has taken a step to becoming a haven for high-net-worth individuals. A new immigration scheme aims to attract capital and talent by reeling in HK$120 billion worth of investment to Hong Kong per year. At HK$30 million per applicant, the New Capital Investment Entrant Scheme hopes to bring in investors who will benefit
NEW YORK (AP) — The S&P 500 closed out 2023 with a gain of more than 24% and the Dow finished near a record high, as easing inflation, a resilient economy and the prospect of lower interest rates buoyed investors, particularly in the last two months of the year. Stocks closed Friday with modest losses.
India, with its thriving startup ecosystem and growing smartphone and internet penetration, has the potential to position itself as a future crypto hub India’s leading position in grassroots cryptocurrency adoption signals a remarkable trend in the global landscape. While the worldwide pattern indicates a decrease in grassroots crypto adoption, lower middle-income (LMI) countries present a
The prices of gold, silver and platinum may all be beginning to enjoy tailwinds due to weakening global economic growth, stabilising rate hikes, geopolitical tensions and growing industrial demand, according to the World Bank. In September, the bank’s precious metals index hit 146.6. “Wars remind us how connected all countries and markets are – the
The economic vibe for 2024 is like a mixtape of bad songs: high inflation, elevated interest rates, wobbly home values, stricter regulations, rising unemployment and escalating loan defaults. This carnival of financial mayhem doesn’t sound like a great time to pour cash into mortgage companies. But if rates tumble as expected, 2024 could have some
The latest downturn in mortgage rates is a happy holiday gift for originators, as indicators are that the push below 7% has brought consumers back into the market. Freddie Mac’s Primary Mortgage Market Survey for the week of Dec. 21 reported a large 28 basis point drop in the 30-year fixed rate loan to 6.67%