Blog

China unveils details of state-firm reforms as growth sputters
September 13, 2015 MONEY (MSM)

China unveils details of state-firm reforms as growth sputters

China unveiled details on Sunday of how it would restructure its state-owned enterprises (SOEs), including partial privatization, as data pointed to a cooling in the world’s second-largest economy. The guidelines, jointly issued by the Communist Party’s Central Committee and the State Council, China’s cabinet, included plans to clean up and integrate some state firms, the official Xinhua news agency said. Reform of underperforming state-owned enterprises is one of China’s most

Fed to dominate week of central bank meetings
September 13, 2015 MONEY (MSM)

Fed to dominate week of central bank meetings

The U.S. Federal Reserve takes center stage in the coming week, eclipsing industry data from China, another grim inflation reading from the euro zone and rate decisions in Japan and Switzerland. An unexpected drop in the jobless rate to 5.1 percent and an upward revision in second quarter growth to 3.7 percent support calls for a hike as the labor market tightens and utilization is at its best level since

Credit Suisse plans to sell U.S. private bank: newspaper
September 13, 2015 MONEY (MSM)

Credit Suisse plans to sell U.S. private bank: newspaper

Credit Suisse Group (CSGN.VX) intends to sell its U.S. private bank and slash its prime brokerage business under a strategy being developed by new Chief Executive Tidjane Thiam, Swiss newspaper Schweiz am Sonntag reported on Sunday. The newspaper cited “insiders” as saying the bank’s U.S. private banking business had around 100 billion Swiss francs ($103 billion) under management but was not making progress there, unlike rival UBS (UBSG.VX). The prime