China News
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Jim Chanos, the hedge-fund manager who’s been betting that Chinese bank stocks will tumble, said a rally spurred by government purchases of the shares hasn’t changed his bearish outlook.
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China Petrochemical Corp.’s takeover of Daylight Energy Ltd. shows how the oil industry’s biggest selloff since 2008 is transforming companies from Talisman Energy Inc. to Newfield Exploration Co. into potential targets.
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The worst of the “panic and hysteria” over informal lending in China may be over as the city of Wenzhou works with businesses and the central government to stabilize credit, UBS AG said.
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Prime Minister Vladimir Putin said Russia is nearing an agreement with China to supply natural gas to the world’s biggest energy consumer.