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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

The Wall Street Journal

S&P Lowers China's Credit Rating

Fri, Sep 22, 2017

Standard & Poor’s lowered China’s sovereign credit rating, joining a growing chorus of alarm over the nation’s soaring debt levels despite government pledges to fend off financial risks. ...

China's Postal Savings Bank Taps Overseas Investors

Wed, Sep 20, 2017

State-owned Postal Savings Bank of China is raising up to $7.6 billion in one of the largest-ever sales of offshore securities by a Chinese lender....

Mexico Earthquakes Test Plan for Investors to Absorb Government Disaster Costs

Fri, Sep 22, 2017

Investors recently bought a catastrophe bond designed to minimize the financial hit to the Mexican government from earthquakes. They could now be on the hook for as much as $150 million after two major quakes struck the country in quick succession. ...

Trump Expands North Korea Sanctions

Fri, Sep 22, 2017

President Donald Trump signed an executive order he said will expand U.S. authority to target individuals, companies and financial institutions involved in business with Pyongyang....

Bitcoin 'Fugitives' Gather in Hong Kong to Skirt China's Curbs

Wed, Sep 20, 2017

China’s crackdown on cryptocurrencies isn’t stopping the industry’s enthusiasts from preaching their tune. Instead, it is emboldening them to find ways to circumvent the curbs....

Meet the Earth's Largest Money-Market Fund

Wed, Sep 13, 2017

In just four years, a money-market fund created by an Alibaba affiliate has become the world’s largest, accruing 370 million account holders and $211 billion in assets. As its model is replicated, the government is enforcing new regulations....

Trump Blocks China-Backed Fund From Buying U.S. Chip Maker

Thu, Sep 14, 2017

President Donald Trump blocked a Beijing-backed fund’s attempt to buy an American chip maker, signaling his administration will closely scrutinize Chinese efforts to invest in U.S. semiconductor technology....

China Prepares Sale of $2 Billion in U.S.-Dollar Bonds

Wed, Sep 13, 2017

China is laying the groundwork for its first sale of U.S.-dollar sovereign bonds in more than a decade, a move toward expanding its ties with global investors as its economy improves....

Bitcoin Exchanges Shut Down by Chinese Authorities

Tue, Sep 12, 2017

Chinese authorities are ordering domestic bitcoin exchanges to shut down, delivering a heavy blow to once-thriving trading hubs that helped popularize the virtual currency pushing it to recent record highs....

U.K. Regulator Summons Standard Chartered Over Indonesian Bribery Allegations

Tue, Sep 12, 2017

The U.K. financial regulator has summoned Standard Chartered PLC officials to a meeting this week over a whistleblower’s claims of misconduct at an Indonesian power plant builder owned by the bank, people familiar with the matter said. ...