China's biggest risk may be its property market — not the trade war
- China's hot real estate market remains a challenge for authorities trying to maintain stable economic growth in the face of trade tensions with the U.S. In fact, property is the country's biggest risk in the next 12 months, much greater than the trade war, according to Larry Hu, head of greater China economics at Macquarie.
- The public still expects property prices to increase because the government has constantly switched between tightening and easing policies, often to prevent a drop in growth, CEIBS' Sheng said in the report.
- But, if control on the property market doesn't increase, then money will still flow into real estate rather than areas of economic need such as manufacturing, technological innovation and tourism, according to Thales Qin, executive director of the China Institute for Globalization of Cities at Beijing-based think tank the Center for China and Globalization.
One Medical may be in talks to raise more than $200 million
- One Medical, the company hoping to disrupt the doctor’s office with concierge services, virtual visits and same-day appointments, is rumored to be in late-stage talks with the Carlyle Group for $200 million in funding, according to CNBC.
- The firm is also looking to buy an additional $100 million worth of shares from existing investors, according to the report.
- We’ve reached out to the Carlyle Group and One Medical for more information.
- One Medical has so far raised over $180 million, including from Alphabet’s venture arm GV and Benchmark Capital, to bring its idea of accessible healthcare to areas covering San Francisco, NYC, Seattle and several other cities across the country.
- The latest calculation put the company at just over $1 billion in valuation.
- This new cash infusion would more than double its coffers, bringing the total raised to more than $380 million.
Apple and these other stocks have contributed the most to this historic bull market
- Stocks have surged more than 300 percent during this historic bull market thanks in large part to Apple.
- Apple's stock alone accounts for 4.1 percent of the S&P 500's gain since March 9, 2009, according to data from S&P Dow Jones Indices' Howard Silverblatt.
- That date is widely considered to be the start of the current bull market, which is on track to become the longest ever.
- Barring a 20 percent decline between now and then, it would mark the longest bull market in history, according to S&P.
- Apple shares have skyrocketed more than 1,700 percent since the bull market started.
- But Apple is not the only major contributor of gains of this bull market.
- At the sector level, tech has been the biggest contributor of gains during this bull market.
Many countries don't use credit scores like the US — here's how they determine your worth
- Similar to the US, UK consumer credit is based on factors like your payment history, age of accounts, and credit utilization, UK debt solution provider Harrington Brooks reported.
- Starting in 2012, Brazil's government set rules for the creation of positive credit bureaus, leading to a coalition of the country's five biggest banks to form a credit research agency, the International Financing Review reported.
- Its main credit agency is SCHUFA, a private company that operates like the credit data brokers in the US, tracking open accounts, unpaid bills, loans, and fines, according to the Open Knowledge Foundation of Germany.
- In 2017, however, that changed to include two years' worth of positive financial data as well, including regular mortgage and credit card payments, according to the Herald's report.
Tesla challenger Lucid Motors also in talks with Saudi Arabia for reported $1 billion funding
- Saudi Arabia’s sovereign wealth fund is negotiating a more than $1 billion investment into Lucid Motors, an electric car startup run by battery company Atieva, Reuters reports.
- As it stands, the sovereign wealth fund’s investment in Lucid Motors would come in stages, and the first would be for $500 million, according to the report.
- The company has locked down a site in Arizona where it wants to build a $700 million factory, but it has had trouble securing a new round of funding to help make that happen.
- Lucid Motors was in “an exclusive negotiation arrangement with a preferred lead investor” as recently as April, according to emails with the local Arizona government obtained by The Verge through a public records request.
- Lucid also tried last summer to secure funding assistance through tax credits worth about $50 million by working with a firm called Dudley Ventures, according to the emails.
Woman rescued after what she says was 10 hours in sea after falling off cruise ship
- Kay Longstaff, who lives in Spain, according to her Twitter account, spoke to Croatian news outlet HRT shortly after arriving back on land.
- Longstaff, 46, was then led by medical personnel to an ambulance.
- Lovro Orešković, the captain of the ship that rescued her, told local media that it was a "miracle" that she survived.
- It was unclear how the woman went overboard.
- A patrol boat and an airplane were part of the rescue effort, according to the Croatian Ministry of Defense.
Pennsylvania AG: Cardinal under scrutiny over report on priest abuse 'is not telling the truth'
- Washington (CNN) - Pennsylvania Attorney General Josh Shapiro is accusing Cardinal Donald Wuerl, the archbishop of Washington, of "not telling the truth" as he attempts to defend himself amid criticism and calls for his resignation over the release of a Pennsylvania grand jury report detailing allegations of widespread predatory behavior by more than 300 priests against more than 1,000 children.
- According to the grand jury report, Zula took a leave of absence in 1987 prior to the start of Wuerl's tenure as Pittsburgh bishop.
- And a spokesman for Wuerl said that he acted promptly to notify others about the claims against Paone when he learned of them.
- Bishop Wuerl knew of no claims against Paone until July 25, 1994, and then acted promptly to notify others out of state of an allegation after he received it," McFadden said.
Genoa Bridge Cable Was Damaged Months Ago, Experts Say
- Months before a highway bridge collapsed in Genoa, Italy, engineering experts found damages to the cables that were supporting it.
- The Morandi bridge collapsed on August 14 during a period of heavy rainfall, and left 43 people dead.
- In February, experts determined that corrosion of cables supporting the bridge weakened the infrastructure by 20%, Italian news outlet Espresso reported Monday.
- Despite the damage to the cables, “neither the ministry, nor the highway company, ever considered it necessary to limit traffic, divert heavy trucks, reduce the roadway from two to one lanes or reduce the speed,” according to the report.
- Atlantia, the parent company of the bridge operator saw shares drop by more than 9 percent on Monday.
- Autostrade per L’Italia, the company that operated the part of the bridge that collapsed, offered to pay €500m ($570m) in reconstruction and compensation costs, according to a Quartz report.
Tariffs hurting U.S. economy, economists warn, with more pain to come if Trump withdraws from NAFTA
- Business economists are sounding some sour notes about Trump administration policies, from trade to immigration to the budget, while expecting the short-term boost to growth from Republican tax cuts to lessen over time.
- The National Association for Business Economics survey showed 91 per cent of respondents said current tariffs and threats of more to come were having “unfavourable consequential impacts” on the U.S. economy, according to a report released Monday.
- While survey respondents continued to see deregulation and tax cuts giving a boost to growth in the short term, they also saw the effects diminishing over time as government debt continues to rise.
- Some 37 per cent said the tax cuts would boost 2018 U.S. GDP growth by a quarter to half percentage point, while 24 per cent saw gains of a half point to three quarters of a point, the survey showed.
Leading #MeToo figure Asia Argento accused of sexually assaulting a 17-year-old actor and paying him off
- The Italian actress allegedly sexually assaulted Jimmy Bennett in 2013, and quietly arranged the payments in the months after the #MeToo movement gained momentum last year, the Times reported.
- The Times said it discovered documents regarding Bennett's claim and Argento's arrangement for the money in an encrypted email sent from an unidentified party.
- Citing the document, the Times said Bennett arrived at a Ritz-Carlton hotel room in Marina del Rey, California, with a family member for the meeting with Argento.
- A month after the hotel room incident in May 2013, Bennett also sent Argento a Twitter message, saying: "Miss you momma!!!!" according to the Times.
- Argento's payments to Bennett don't stop Bennett from speaking out about the incident, but do stop him from suing her or posting the photo of the two of them, the Times reported.