SHANGHAI Moodys Investors Service cut Chinas sovereign credit rating for the first time in nearly three decades, citing expectations that the countrys financial strength will deteriorate in the coming years as debt keeps rising and the economy slows.
In a Wednesday statement, Moodys said it downgraded Chinas rating to A1 from Aa3, while changing its outlook to stable from negative. In March....More>>>
Despite the onslaught of Chinese companies to list in the U.S. this year – from fitness wearables company Huami (HMI), online anime gaming company Bilibili (BILI), and now the “Netflix of China”, iQIYI (IQ) – none have managed to find favor with U.S. investors. Also in spite of the fact that these Chinese IPOs tend to be mega-deals (iQIYI raised $2.25 billion in its IPO,....More>>>
(OLGA MALTSEVA/AFP/Getty Images)
Sri Lankas Hambantota port is officially Chinas own port, for 99 years. Thats according to a landmark agreement signed early last week, which gives China Merchants Ports Holdingsan arm of the Chinese government–70 percent stake in the Indian Oceans prominent outpost.
The Hambantota port expansion begun with loans from China. But when Shri Lanka....More>>>
2016 was arguably the year of the Dow on Wall Street, as the blue-chip stock gauge ended the year flirting with the 20,000 milestoneafter posting 17 record highs after Election Day.
But a look back at 2016 is a stark reminder that the year didn’t start well for the Dow Jones industrial average andthat there were scares along the way. Still, the Dow posted a 13.4% gain in 2016 —....More>>>
The aluminum and steel industry, which affects businesses from beer to cars, reacted to the prospect of steep U.S. tariffs. President Donald Trump is expected to make the announcement on Thursday, and the move could have far-reaching effects. It may benefit U.S. steel producers, but also raises the possibility of retaliation from other countries and higher costs for American shoppers.