Economy
US Fed vice chair says interest rates should remain on pause
The US central bank should keep interest rates at their current "restrictive" levels until it sees real progress in the fight to lower inflation, a senior Fed official said Monday.
Anglo American rejects BHP's improved takeover bid
Australian mining giant BHP revealed Monday that British rival Anglo American has rejected an "improved" takeover bid worth £34 billion ($43 billion) as it aims to create a copper titan. Anglo's stock has been boosted since the initial approach as traders bet on a possible bidding war with other mining giants like Glencore or Rio Tinto.
Chinese firms exit Romania solar tender after EU probe
Two Chinese-owned solar panel manufacturers have withdrawn from a public procurement tender in Romania after the EU launched an anti-subsidy probe, Brussels said Monday.
Saudi Arabia's billion-dollar football league a work in progress
Anyone expecting immediate results from Saudi Arabia's unprecedented splurge on football stars was probably disappointed as the billion-dollar spending created a lopsided season with no international silverware so far.
Maldives gets IMF debt warning as more Chinese loans loom
The International Monetary Fund warned the Maldives against looming "debt distress" Monday, as the small but strategically placed luxury tourist destination looks set to borrow more from main creditor China. The Maldives is a small nation of 1,192 tiny coral islets scattered 800 kilometres (500 miles) across the equator, but it strategically straddles key east-west international shipping routes.
US, Japanese banks lead fossil fuel financing
The world's biggest banks financed fossil fuels to the tune of $705 billion in 2023, with US and Japanese lenders leading the way, an annual report by climate campaigners said Monday. Since the 2015 Paris climate agreement, the top 60 banks have provided a total of $6.9 trillion to the sector, according to the coalition's 15th annual report titled "Banking on Climate Chaos".
China says to sell initial batch of long-dated bonds this week
China will start selling an initial batch of long-dated bonds this week, the Ministry of Finance announced Monday, as Beijing looks to increase support for the world's second-largest economy. The Ministry of Finance did not specify the number of bonds that will be issued.
US sanctions test China's 'no limits' friendship with Russia
Chinese banks are tightening scrutiny over trade with Russia for fear of incurring strict new US sanctions over the Ukraine war, testing the "no limits" friendship between the two countries. But Washington's recent vow to go after financial institutions that help Moscow fund the conflict has tested the boundaries of Beijing's bonhomie -- and left its banks fearful of getting cut off themselves.
Asian markets mixed as traders pause ahead of US inflation data
Equities fluctuated Monday as traders took a breather after the past weeks' healthy run as they absorbed weak Chinese data and reports that the United States planned to ramp up tariffs on clean energy products from the Asian country.
Economy
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