“Chinese Central Bank Implements Measures to Boost Yuan Amid Economic Challenges”
– The Chinese central bank has announced plans to reduce the required foreign-exchange reserves that banks must hold, a move aimed at supporting the value of the yuan and stabilizing the economy.
– In response to a faltering economy, large commercial banks in China are also considering lowering deposit rates, anticipating further mortgage-rate cuts that could impact profit margins.
“UBS Successfully Completes Acquisition of Credit Suisse and Retains Key Assets”
– UBS, a Swiss bank, has reported significant profits during the second quarter following its acquisition of rival bank Credit Suisse. Despite political concerns, UBS is expected to retain the most valuable components of the acquired bank.
“Major Chinese Cities Relax Mortgage Rules to Counter Property Slump”
– In an effort to reverse the ongoing property crisis and stimulate economic growth, two major Chinese cities have eased home purchase regulations. This will allow more individuals to qualify for favorable mortgage terms for their first homes.
“Visa and Mastercard Plan to Increase Credit Card Fees, Potentially Costing Merchants Millions”
– Visa and Mastercard are preparing to raise credit card fees, which could result in merchants paying an additional $502 million annually. This move has been projected by a consulting firm, potentially impacting businesses’ profitability.
“Investment Funds Targeting Gen-Z and Metaverse Struggle to Attract Investors”
– Exchange-traded funds (ETFs) focused on Gen-Z and metaverse investments have experienced a significant increase in closures this year. Many niche funds within these sectors are facing challenges in attracting investors.
“Startups Face Difficulty Securing Funding Beyond Seed Stage”
– Early-stage startups are encountering obstacles in raising follow-up Series A rounds. A prolonged downturn in investment has left these companies unable or unwilling to secure additional funding.
These news highlights are sourced from www.marketscreener.com.