Funding & Business
BYD’s $45 Billion Stock Wipeout Raises Doubts on China Outlook
BYD Co. faces pressure to restore investor confidence after a $45 billion stock selloff, with growing concerns over its ability to fend off competition amid a destructive price war in China.
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Hong Kong’s securities watchdog banned a former Citigroup head trader for five years, according to a statement Tuesday.
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For generations on Wall Street, it was a statement of fact: The Federal Reserve’s “dual mandate” of price stability and maximum employment governed how it set interest rates, invoked time and again from Alan Greenspan to Jerome Powell.
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A growing number of economists believe the Bank of England has finished cutting interest rates as policymakers struggle to contain a fresh spike in inflation, a sentiment likely bolstered by fresh jobs data. The number of employees on payrolls dropped a further 8,000 in August, the Office for National Statistics said on Tuesday, smaller than the 12,000 decline forecast on average by economists surveyed by Bloomberg. Inflation data on Wednesday will underscore the policy headaches facing rate-set
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