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Economic stimulus

China property: Beijing launches US$41 billion of funds to buy unsold homes, repurchase of ‘idle’ land in drive to rescue housing market

by Anas Siddiqui
China property: Beijing launches US billion of funds to buy unsold homes, repurchase of ‘idle’ land in drive to rescue housing market

Beijing has announced 300 billion-yuan (US$41.5 billion) in funding to help clear excess housing inventory, as well as measures to ensure developers have access to financing and to encourage the …

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Eli Lilly, 3M, PayPal, Tesla and more

by Walter Watson
Eli Lilly, 3M, PayPal, Tesla and more

Check out the companies making headlines in midday trading. Eli Lilly — Shares added 5% after Eli Lilly, maker of the Mounjaro diabetes and weight loss drug, beat analysts’ expectations …

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Japan’s finance minister says ‘speculative’ moves in currency market impacting yen

by Walter Watson
Japan’s finance minister says ‘speculative’ moves in currency market impacting yen

The yen has been on a downtrend despite the BOJ’s decision on March 19 to end eight years of negative interest rates. Natanael Ginting | Istock | Getty Images Japanese …

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China pushes banks to speed up approvals of new loans to private developers: Reuters

by Walter Watson
China pushes banks to speed up approvals of new loans to private developers: Reuters

Chinese regulators are pushing banks to speed up approvals of new loans to cash-starved private property developers, people with knowledge of the matter said, a bid to revive homebuyer sentiment …

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Australia’s central bank warns of another tough year for borrowers, businesses

by Walter Watson
Australia’s central bank warns of another tough year for borrowers, businesses

The Australian Flag is seen on June 25, 2017 in Melbourne, Australia. Darrian Traynor | Stringer | Getty Images Australia’s central bank expects another tough year for households and businesses, signaling little rate relief in months ahead, but …

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Toyota agrees to biggest wage hike in 25 years in sign of Japan Inc’s big pay bump

by Ron Morgan
Toyota agrees to biggest wage hike in 25 years in sign of Japan Inc’s big pay bump

A worker of Japanese automobile giant Toyota Motor assembles auto parts to newly designed Crown at the company’s Motomachi plant in Toyota city near Nagoya, central Japan on July 30, …

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