Treasury Secretary Steven Mnuchin has expressed interest in acquiring the popular social media app TikTok. This news comes just days after he played a key role in leading the rescue of the struggling New York Community Bank.
China’s small-cap market experienced a sharp crash last week, highlighting the potential consequences of a lack of market rescue measures. The sudden plunge in small-cap stocks has prompted concerns and raised questions about the effectiveness of the Chinese government’s intervention strategies.
In an effort to counter potential economic slowdown, China has decided to implement further stimulus measures by unexpectedly cutting the reserve requirement ratio (RRR) for banks. This move aims to inject a much-needed boost into the Chinese economy, which has been grappling with various challenges lately. The sudden RRR cut underscores China’s determination to ensure stability within its financial markets and prop up its slowing growth.
China’s Rescue Package to Boost Economy
Many experts are questioning whether banks are exploiting the Federal Reserve’s rescue program to benefit their own interests. The program, which was implemented to provide much-needed liquidity to the financial system during the ongoing economic crisis, has come under scrutiny as reports surface of potential abuses by the banks.
After a period of turmoil, bond markets around the world have experienced a remarkable turnaround with a historic two-month rally. This recovery is being hailed as the biggest in decades, bringing much-needed relief to investors who had suffered losses amid the recent economic uncertainties.
Leading luxury fashion retailer, Farfetch, is reportedly in discussions with investment firm, Apollo Global Management, to secure a potential rescue deal amidst the industry-wide challenges caused by the ongoing pandemic, according to a source familiar with the matter.
