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The Latest Breaking News from Nomura

Chinese shadow bank admits £30bn shortfall after ‘management ran wild’

Zhongzhi, a wealth manager with links to China’s ailing property market, says it is ‘severely insolvent’

The Guardian - UK

Nomura’s Laser Digital Introduces Bitcoin Adoption Fund For Institutional Investors

The Bitcoin Adoption Fund for institutional investors is first among the numerous digital adoption investment solutions

Zenger

Nomura’s Laser Digital Middle East Authorized For Virtual Asset Services In Dubai

Nomura's Laser Digital receives operating license from Dubai's VARA for virtual asset services

Zenger

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As the West battles inflation, for China ‘the risk is persistent deflation.’ Here’s why it could be a disaster for the world’s second largest economy

EY’s chief economist, Gregory Daco, tells Fortune to look at Japan: Elevated debt and a deflationary environment is “the worst of both worlds.”

Fortune

China is ‘entering a balance sheet recession’ as borrowers shy away from new debt in a potential replay of Japan's 'lost decades'

China's post-COVID boom has fizzled this year, new data shows. Nomura Research Institute's chief economist warns it's just the beginning of the pain unless the government steps in.

Fortune

Did a city consultant’s financial relationship with Bally’s help the gamer win the casino bid?

The Johnson administration should step in now and find out one way or another.

Chicago Sun-Times

Firm that brought Bally’s to Chicago casino deal stood to profit from another Bally’s deal

The company that former Mayor Lori Lightfoot picked to own and operate the planned Chicago casino had financial ties to a consultant City Hall hired to solicit and evaluate bidders.

Chicago Sun-Times

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Stocks Climb Before the Open on U.S. Debt Deal Optimism, Walmart Earnings on Tap

June S&P 500 futures (ESM23) are up +0.16%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.21% this morning after three major U.S. benchmark indices rallied on Wednesday as hopes of a deal to raise the U.S. debt limit and a jump in regional bank stocks boosted risk appetite.

Barchart

Stocks Move Higher Before the Open on U.S. Debt Deal Optimism, Walmart Earnings on Tap

June S&P 500 futures (ESM23) are up +0.08%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.15% this morning after three major U.S. benchmark indices rallied on Wednesday as hopes of a deal to raise the U.S. debt limit and a jump in regional bank stocks boosted risk appetite.

Barchart

The questions over government contractors and consultants

Government spending on consultants and contractors is back in the news - but what are they actually paid to do?

Newsroom.co.nz

Why UK house prices could plunge by 20% after the latest interest rate hike

Property market has defied gravity for years but analysts say rising mortgage rates will mirror the 1980s price crash

The Guardian - UK

Deal worth £227m paves way for landmark city centre development

Phase one is scheduled to be completed in August next year with the second phase due in March 2025

Birmingham Post

COVID spread fears grow as China unwinds zero-tolerance curbs

As many Chinese embraced new freedoms on Thursday after the country dropped key parts of its tough zero-COVID regime, there was mounting concern that a virus that had largely been kept in check could soon run wild.

Reuters

Beijing Drops COVID Testing Burden with Wider Easing Eyed

People in China's capital Beijing on Tuesday were allowed to enter supermarkets, offices and airports without having to show negative COVID tests, the latest in a mix of easing steps nationwide after last month's historic protests. "Beijing readies itself for life again" read a headline in the government-owned China Daily…

Asharq Al-Awsat

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Reuters

Beijing drops COVID testing burden as wider easing beckons

Residents of China's capital were allowed into parks, supermarkets, offices and airports without a negative COVID-19 test on Tuesday, the latest in a mix of easing steps nationwide after unprecedented protests against a tough zero-COVID policy.

Reuters

China's COVID infections hit record as economic outlook darkens

China reported record high COVID-19 infections on Thursday, with cities nationwide imposing localised lockdowns, mass testing and other curbs that are fuelling frustration and darkening the outlook for the world's second largest economy.

Fortune

The U.S. and China are facing very different COVID winters

Fauci says the U.S. will not see a repeat of last winter’s COVID wave — but surging infections in China leave experts fearing for the viability of its zero COVID policy.

Reuters

Beijing shuts parks, Shanghai tightens entry as China COVID cases rise

Beijing shut parks and museums on Tuesday and Shanghai tightened rules for people entering the city as Chinese authorities grapple with a spike in COVID-19 cases that has deepened concern about the economy and dimmed hopes for a quick reopening.

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news in one place.

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Daily Mirror

Violent anti-lockdown riots break out in Chinese city of 15million as Covid spreads

Guangzhou in China has had the largest new outbreak of Covid-19 with new infections exceeding 5,000 for the first time - fuelling speculation that officials could roll out more lockdowns

Daily Mirror

Woman dragged to quarantine camp by hazmat-suited officials in China's zero-Covid regime

The distressing footage was believed to have been taken in China last month and shows one woman being dragged along the floor by two officials - terrified screams and shrieks can be heard

Daily Mirror

China puts 210m people into lockdown after two 'highly contagious’ Covid strains emerge

China has reported a third straight day of more than 1,000 cases and Leader Xi Jinping has swung his zero-Covid policy into action with 208 million people currently living under lockdown

The Times of India

China ramps up lockdowns, Covid restrictions across country

BEIJING: Investors hoped China would ease its stringent Covid Zero strategy once the pivotal Communist Party congress cemented President Xi Jinping’s grip on power. Instead, the opposite seems to be happening.

Benzinga

Nomura Joins Other Big-Name Financial Players To Back Blockchain Startup Fnality

Tokyo-based bank Nomura Holdings Inc. (NYSE: NMR) has invested in Fnality, a blockchain-based interbank payment and settlement network that is now sponsored by 17 major financial institutions.

Benzinga

Nasdaq Jumps Into Crypto

Happy Friday Everyone! 👋 With macro firmly in the driver’s seat for the time being, we’re keeping an eye on everything happening “off the field”.

StockNews.com

3 Stocks to Sell as Investors Brace for More Fed Tightening

Concerns about skyrocketing inflation, the Federal Reserve's hawkish stance to tame it, and the prospect of a recession have driven recent market selloffs. As the Fed is expected to keep raising interest rates to bring inflation down to its target level, fundamentally weak stocks Peloton Interactive (PTON), Revolve Group (RVLV),…

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