China factory activity expands at fastest pace in nearly a decade – Caixin PMI

BEIJING China’s factory activity expanded at the fastest pace in nearly a decade in July as domestic demand continued to improve after the coronavirus crisis, though export orders and employment remained weak, a private business survey showed on Monday. The Caixin/Markit Manufacturing Purchasing Managers’ Index(PMI) rose to 52.8 last month from June’s 51.2, marking the […]

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HSBC first-half profit plunges 65%, warns loan losses could hit $13 billion

LONDON/HONG KONG HSBC Holdings PLC warned of rising bad debt charges and a falling core capital ratio after posting a higher-than-expected 65% tumble in first-half pre-tax profit as the coronavirus pandemic hit the bank’s business worldwide. Europe’s biggest bank by assets reported on Monday a pre-tax profit of $4.32 billion for the first six months […]

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