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Instant View: China’s economic growth slows to 6.1% in 2019, near 30-year low

3 days ago NAMEX Comments Off on Instant View: China’s economic growth slows to 6.1% in 2019, near 30-year low
(Reuters) – China’s economy grew 6.0% in the fourth quarter of 2019 from a year earlier, official data showed on Friday, in line with expectations and steadying from the previous quarter’s pace. FILE PHOTO: Cranes are seen above piles of steel pipes to be exported at a port in Lianyungang, Jiangsu province, China, December 1, Read More

China posts weakest growth in 29 years as trade war bites, but ends 2019 on firmer note

3 days ago NAMEX Comments Off on China posts weakest growth in 29 years as trade war bites, but ends 2019 on firmer note
BEIJING (Reuters) – China’s economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown. FILE PHOTO: Containers are seen at Yantian port in Shenzhen, Guangdong province, China Read More

China set to post weakest growth in 29 years as trade war bites, investment sputters

3 days ago NAMEX Comments Off on China set to post weakest growth in 29 years as trade war bites, investment sputters
BEIJING (Reuters) – China is expected to report on Friday that economic growth slowed to its weakest in nearly three decades in 2019 amid a bruising trade war with the United States, and more stimulus steps are expected this year to help avert sharper slowdown. FILE PHOTO: A teller counts yuan banknotes at a China Read More

U.S. investment firm StepStone taps banks for IPO -sources

3 days ago NAMEX Comments Off on U.S. investment firm StepStone taps banks for IPO -sources
(Reuters) – StepStone Group LP, one of the world’s biggest investors in alternative assets such as private equity and real estate, has hired investment banks for an initial public offering (IPO) that could take place as early as the first quarter of this year, people familiar with the matter said on Thursday. StepStone’s listing would Read More

UPDATE 5-Morgan Stanley shares soar after Gorman boosts performance targets

3 days ago NAMEX Comments Off on UPDATE 5-Morgan Stanley shares soar after Gorman boosts performance targets
(Reuters) – Morgan Stanley (MS.N) lifted its performance goals on Thursday after beating Wall Street estimates by a wide margin, the latest sign that Chief Executive James Gorman’s strategic vision for the bank is bearing fruit. FILE PHOTO: Morgan Stanley Chairman and Chief Executive James Gorman speaks during the Institute of International Finance Annual Meeting Read More

UPDATE 2-Morgan Stanley bond trading revenue surges, profit handily beats estimates

3 days ago NAMEX Comments Off on UPDATE 2-Morgan Stanley bond trading revenue surges, profit handily beats estimates
(Reuters) – Morgan Stanley (MS.N) wrapped up the earnings season for big U.S. banks on a resounding note, comfortably beating quarterly profit estimates and raising the possibility that the Wall Street bank could raise its strategic targets. FILE PHOTO: A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. Read More

UPDATE 2-Trade deal touts financial sector wins; China to scrap securities business cap faster

4 days ago NAMEX Comments Off on UPDATE 2-Trade deal touts financial sector wins; China to scrap securities business cap faster
* Win for U.S. firms seeking access to $40 trillion finance sector * China expedites removal of ownership cap in securities business * Beijing has been lowering barriers to investments in past year (Adds comments from Asia analysts, lawyer) By Michelle Price and Sumeet Chatterjee WASHINGTON/HONG KONG, Jan 16 (Reuters) – The long-awaited U.S.-China trade Read More

UPDATE 1-U.S.-China trade deal touts financial sector wins, but there’s a sense of deja vu

4 days ago NAMEX Comments Off on UPDATE 1-U.S.-China trade deal touts financial sector wins, but there’s a sense of deja vu
(Adds name of group’s CEO in last two paragraphs) By Michelle Price and Sumeet Chatterjee WASHINGTON/HONG KONG, Jan 15 (Reuters) – The long-awaited U.S.-China trade deal unveiled on Wednesday touted new wins for U.S. companies looking to access China’s $40 trillion financial market, but many of the changes were already in the works even before Read More

Wall Street set to open lower as investors weigh trade deal, earnings

4 days ago NAMEX Comments Off on Wall Street set to open lower as investors weigh trade deal, earnings
(Reuters) – U.S. stocks were set to open lower on Wednesday ahead of the release of details of an initial U.S.-China trade deal, with investors also digesting the latest earnings reports from big U.S. banks. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 14, Read More

UPDATE 2-Bank of America beats on bond trading boost, loan growth

4 days ago NAMEX Comments Off on UPDATE 2-Bank of America beats on bond trading boost, loan growth
(Reuters) – Bank of America Corp beat analysts’ estimates for quarterly profit on Wednesday, as a boost from bond trading and growth in its loan book helped the second-biggest U.S. lender blunt a hit from lower interest rates. FILE PHOTO: A Bank of America building is seen in Los Angeles, California, U.S., May 6, 2019. Read More