Global 

China outstanding bank loans fell in August, backing new moves to boost credit to support economy

The growth in China’s outstanding bank loans fell again in August, supporting the central bank’s decision to start easing credit conditions and suggesting further steps ahead to support an economy pressured by the trade war with the United States.The country’s commercial banks extended 1.21 trillion yuan (US$170.22 billion) in new loans in August, in line with expectations and higher than the 1.06 trillion yuan in July, according to data released by the People’s Bank of China on Wednesday… Source link

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Bank of Jinzhou gets Chinese state backing as ICBC and other financial institutions buy more than 17.3 per cent stake in it

China’s Bank of Jinzhou won government-backed reinforcement on Sunday as three state-controlled financial institutions said they would take at least 17.3 per cent in the troubled lender, whose shares have been suspended since April.Industrial and Commercial Bank of China (ICBC), the country’s largest lender by assets, and China Cinda Asset Management and China Great Wall Asset Management, two of China’s four largest distressed debt managers, said on Sunday they would take stakes in Bank of… Source link

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Carlos Ghosn’s successor at Nissan may fail to get partner Renault’s backing if he continues to oppose merger

Carlos Ghosn’s arrest threw Nissan Motor into a corporate tailspin with allegations of self-dealing, profligate spending and filing false statements. Now the carmaker’s profits are falling off a cliff, and successor Hiroto Saikawa may go down with them.Troubled by slumping US sales, ageing models and a product cycle that’s out of sync, the Yokohama-based company is on track to announce on Tuesday its lowest annual operating profit in a decade, raising the possibility of a dividend cut. The… Source link

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Bill Gates is backing this Hong Kong biotech start-up that can screen for cancer through a drop of urine or blood. Here’s why

A Hong Kong biotechnology start-up claims to have come up with a new procedure that could dramatically improve the efficiency and lower the cost of cancer screening.Phase Scientific International’s has developed a new way of preparing samples for liquid biopsy, a diagnostic screening tool to detect cancer cells or their DNA fragments in fluids such as blood and urine.In the short to medium term, the nascent technique of liquid biopsy could allow doctors to more accurately monitor a tumour’s… Source link

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