China's central bank says it will cut its reserve requirements for banks to help spur more lending and boost the economy
China’s central bank says it will cut its reserve requirements for banks to help spur more lending and boost the economy
Similar Posts
Court orders China Evergrande property developer to liquidate after it failed to reach debt deal
HONG KONG — A Hong Kong court on Monday ordered property developer China Evergrande Group to liquidate after it was unable to reach a restructuring deal with creditors. Judge Linda Chan said it was appropriate for the court to order Evergrande to wind up its business given a “lack of progress on the part of…
China Appears to Backpedal From Video Gaming Crackdown
Chinese regulators on Tuesday appeared to backpedal from a plan to reduce how much money people spend on online video games, after the proposal had tanked video gaming companies’ stocks and raised doubts about the government’s commitment to reviving China’s slowing economy. The draft rules disappeared from the website of the National Press and Publication…
Levi Strauss slashing corporate jobs, looking to go upscale under new CEO Michelle Gass
Levi Strauss forecast annual sales and profit below Wall Street expectations on Thursday and said it would cut 10% to 15% of global corporate jobs as the denim maker seeks to rein in costs amid weakness in its wholesale business. Levi attributed the weak forecast to plans to exit its Denizen brand and cut back on off-price sales,…
Los Angeles Times to lay off 20% of newsroom, one of the largest staff reductions in paper’s history
LOS ANGELES — The Los Angeles Times said it planned to lay off at least 115 employees — more than 20% of the newsroom — starting Tuesday, one of the largest staff cuts in the newspaper’s 143-year history. The announcement came after the LA Times Guild walked off the job last Friday to protest the…
Longtime Applebee’s franchise owner sells 21 restaurants in NYC area for $140M
Outspoken Applebee’s franchise owner Zane Tankel sold off the majority of his restaurant portfolio to a longtime rival in a $140 million deal. The 83-year-old Tankel, who owned 23 Applebee’s Grill & Bar eateries in the New York City area, agreed to part with 21 of them in the deal with New Jersey-based Doherty Enterprises…
Mali, Niger and Burkina Faso withdraw from West Africa’s regional bloc as tensions deepen
ABUJA, Nigeria — Three West African nations of Mali, Burkina Faso and Niger have withdrawn from the regional economic bloc known as ECOWAS, their respective juntas announced Sunday, accusing the bloc of “inhumane” sanctions to reverse the coups in their nations. The juntas said in a joint statement read on state television that they have…