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China’s Real Estate Crisis Echoes Lehman Moment; Country Garden Warns Of ‘Major Uncertainties’ As Bond Redemption Looms

By Piero Cingari
August 16, 9:47 AM
China is grappling with a monumental financial challenge as the turmoil in its real estate sector reverberates throughout the broader economy. On Wednesday, a group of investors staged a protest outside the Beijing headquarters of Zhongrong International Trust Co., one of the country's leading trust companies and financial services providers.

BABA

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Are US Banks On Shaky Ground? Stocks Tumble As Fitch Sounds Alarm On Potential Downgrades

By Piero Cingari
August 15, 5:22 PM
Fitch Ratings raised alarms about the looming threat of rating reductions for numerous U.S. banks, with even giants such as JPMorgan Chase & Co. (NYSE: JPM) potentially in the crosshairs. Chris Wolfe, an analyst at Fitch, highlighted that while the agency lowered its outlook on the banking sector's health in June, it didn't result in immediate downgrades. However, a further dip in the industry's rating from AA- to A+ could prompt Fitch to reassess the ratings of over 70 U.S. banks.

BAC

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July’s Resilient Retail Sales Spark Speculation About Fed Policy And Economic Trajectory; Economists Weigh In

By Piero Cingari
August 15, 12:18 PM
Consumer spending maintained its robust momentum in July, as indicated by the latest retail sales data. Total sales grew by 0.7% month-on-month, the highest since January 2023, advancing from an upwardly revised 0.3% growth in June and sharply beating forecasts of 0.4%. In annual terms, retail sales soared 3.2%, smashing expectations of 1.5%.

AMZN