Page 3 - Bloomberg News

Covid-19 China: Consumer revenue will fall this quarter, warns iPhone maker

The company, known also as Foxconn, reported earnings that missed estimates for the third quarter and said revenue growth will be flat for the current three-month period

China's daily Covid cases jump to six-month high as outbreaks flare

The country reported 5,436 cases for Sunday, up 27% from the day before to the most since May 2, when Shanghai was in the midst of its months-long lockdown.

Former Pakistan PM Imran Khan blames govt, spy agency for shooting

Former Pakistan leader Imran Khan has blamed Prime Minister Shehbaz Sharif, Interior Minister Rana Sanuallah and a top general from the intelligence agency for the attack on his rally

How a mysterious screenshot spurred $450-billion rally in China

The screenshot claimed that China's No. 4 official, Wang Huning, held a meeting on Sunday of Covid-19 experts at the request of President Xi Jinping

Chinese stocks slide as leadership overhaul disappoints investors

The offshore yuan weakened as much as 0.7% to 7.2782 per dollar Monday morning to approach a record low seen last week

Xi gives little reassurance on change in Covid, housing market policy

Xi praised Covid Zero, his no-tolerance approach to containing infections, during a speech opening the 20th Communist Party congress in Beijing on Sunday

Aluminium heads for more supply chaos as Joe Biden weighs Russia ban

The Biden administration is considering options including sanctions on Russia's top producer of aluminium as the White House looks to punish Moscow for its military escalations in Ukraine

Bursting housing bubble of China will rock the economy for years to come

While many economists say China's crippling housing downturn won't get much worse and that the stimulus will kick in this year or next, the reality on the ground for sellers like Echo is much bleaker

China's real estate crisis: CCB to set up $4.2 bn fund to buy properties

The fund will "invest in existing assets" of real estate companies and renovate the properties into rental housing, the lender said in a statement to the Shanghai stock exchange Friday.

Vladimir Putin's call-up brings reality of war home to many Russians

Police detained about 1,400 people at protests against the order in 38 cities Wednesday night, according to the OVD-Info monitoring group.

Putin mobilises 300,000 more troops, wields Ukraine nuclear threat

"Those who are trying to blackmail us with nuclear weapons should know that the wind patterns can also turn in their direction," the president said, accusing the US and allies of seeking to "destroy"

China braces for a slowdown even worse than 2020 as growth declines sharply

The consensus in a Bloomberg survey is for the economy to expand 3.5% this year, which would be the second-weakest annual reading in more than four decades

China rolls out property policies to boost demand, fix real estate crisis

A flurry of Chinese cities are rolling out measures to boost housing demand, signaling the government's intention to arrest a property crisis.

Long Covid costing Australia's economy $3.6 bn annually, says report

Australia has announced a parliamentary inquiry into long Covid, with the aim of developing a clear definition of the illness and gauging the scale of its impact on the country's 26 million people

China's consumer inflation moderates in Aug as lockdowns suppress spending

The consumer price index rose 2.5% from a year earlier, the National Bureau of Statistics said Friday, down from 2.7% gain in July

Apple's China partner bars workers from leaving premises to shut out Covid

The firm, which also manages data for other clients, didn't say whether the iPhone maker's servers had been affected or when the lockdown will lift

China cuts forex reserve requirement ratio in bid to support tumbling yuan

Financial institutions will need to hold 6% of their foreign-currency deposits in reserves starting from Sept. 15, the PBOC said in a statement on Monday-- lower than the current level of 8%

G-7 set to back plan to cap Russian oil price to ease market pressure

Once the G-7 support is official, diplomats will have to convince European Union member nations to amend its sixth round of sanctions on Russia over the invasion of Ukraine

China's bad debt funds are no white knights for its crumbling real estate

Aggressive lending to embattled developers during the sector's boom years has beset the $730 billion funds with heavy credit losses, sending their bonds tumbling

China's industrial profits decline 1.1% in first 7 months of 2022

China's economic slowdown deepened in July, with retail sales, industrial output and investment all missing economist estimates