One of Wall Street’s most successful investors has warned that the stock market slide in the wake of Donald Trump‘s tariffs is merely a pothole in the road toward a sheer cliff edge. Mark Spitznagel, chief investment officer and founder of Universa Investments, told MarketWatch he expected an ‘80% crash’ was lurking around the corner.
President Donald Trump was unusually mum on Monday as the Stock Market started tanking a day after he refused to rule out a recession, while a key ally predicted ‘a little bit of pain.’ The president was nowhere to be seen as the Dow tumbled nearly 900 points amid renewed fears of a damaging trade war,
China’s Ministry of Finance has transferred its stakes in a group of financial firms to a government-controlled fund as Beijing steps up its push to overhaul the financial sector. The asset reshuffle will allow Central Huijin Investment – a subsidiary of China’s sovereign wealth fund, China Investment Corporation – to take controlling stakes in five
Facing an economic crisis and consequently fewer US dollars and other hard currencies, Egypt floated a three-year sustainability panda bond worth 3.5 billion yuan (US$478 million) in October. Panda bonds – typically denominated in yuan and issued in China by non-Chinese organisations, including governments and corporations – have gained traction as traders and countries seek
China should consider expanding its property tax trial to Shenzhen and some low-tier cities, said a senior government adviser, a move that would pave the way for the much-delayed legislation and nationwide implementation and also bring a new source of revenue for debt-ridden local governments. Shenzhen, which is home to tech giants such as Huawei,