Money Talks

The turmoil in China's real estate sector is starting to cause worries among regulators in other major economies.

The U-S Federal Reserve has included the Chinese real estate crisis in its list of risks that could destabilise the global economy. In a report, the American central bank warned of stresses that could lead to "a deterioration of risk sentiment." Those issues are already starting to spill over to China's broader credit market. Investors are dumping higher-quality Chinese bonds, including I-O-Us issued by firms backed by the Chinese government. That comes ahead of another major deadline for Evergrande, the company at the centre of the crisis. It's once again on the brink of default, after falling behind on 148 million dollars in coupon payments due last month. The grace period for those obligations ends on Wednesday. For more, we spoke to Jeffrey Halley. He's a senior market analyst for the Asia Pacific region at OANDA and joins us from Jakarta.

#Evegrande #Debt #ChinaRealEstate #JunkStatus

Major cryptocurrencies have rallied, led by industry leaders bitcoin and its main rival, ether.

Analysts say investors are pouring cash into digital assets as a way to shield the value of their capital from the effects of rising inflation. There's also growing excitement about DeFi, or decentralised finance, a new trend in the crypto market. DeFi aims to facilitate lending and trading on the blockchain, which is the technology behind cryptocurrenies. And as Paolo Montecillo reports, major financial institutions and policymakers are hopping on, so they don't get left behind when the blockchain- train leaves the station. We spoke to cryptocurrency analyst Daniele Bianchi in London. He's an associate professor of finance at Queen Mary University.

#Ethereum #Cryptocurrency #BitcoinRally

- Sydney Airport accepts $17.5B takeover offer

- SoftBank posts $3.5B Q2 loss on tech crackdown

- Payment startup Paytm kicks off India's biggest IPO

#SydneyAirport #SoftBankEarnings #PaytmIPO

Ether is leading a rally in major cryptocurrencies as investors flock to assets that can shield their money from the effects of rising inflation. The world's second-biggest digital token has reached a record high of more than $4700 each. It's risen more than a third over the past month, and 500% since the start of the year. Rival bitcoin is also up 50 percent since the start of October, and trading near its own record of 66,000. The optimism comes amid a string of good news for the sector. Australia's biggest lender Commonwealth Bank says it's letting retail customers trade cryptocurrencies. Regulators in the Asian financial hub Singapore also say they want to turn the city-state into a major player in handling blockchain-based assets. According to data platform CoinGecko, the value of the the global cryptocurrency market has topped 3 trillion dollar thanks to the latest surge in prices. We spoke to Naeem Aslam. He's the chief market analyst at Ava-Trade in London.

#CryptocurrencyRally #Ethereum #Bitcoin

It might have taken four decades, but Swedish pop group ABBA are back! Their new studio album debuted this week, and will come complete with a high-tech virtual concert tour that will have fans rolling back the years with the original super troupers.

#ABBA #Voyage #DigitalConcert

The yellow taxi is a celebrated symbol of New York City. For decades it's served as a ladder to the middle class for countless drivers, and an essential mode of transportation for residents and tourists. But nowadays, the industry is in distress. Julia Sun has more.

#YellowCabs #TaxiLicences #NewYork

531-thousand new jobs were added to the US economy in October, after two straight months of disappointing gains.

The US Labor Department's latest non-farm payrolls report also show the unemployment rate edged lower last month to 4.6-percent. It's the biggest jump in a single month since July, and shows demand for workers is picking-up amid widespread labour and supply shortages. It follows hugely disappointing figures for August when just 235-thousand jobs were added - that was less than a-third of what was expected.. While September's figures also badly missed forecasts. Even though employment has grown each month this year, the US economy remains more than 5-million jobs short of pre-pandemic levels.

#USeconomy #USjobs #Pandemic #Recovery

Britain has become the first country to approve an anti-viral pill developed by US drug maker, Merck, in what's being hailed as a breakthrough in the fight against COVID-19. Pfizer says it's come up with its own tablet that also significantly reduces the risk of hospitalisation and death from the coronavirus. The announcements come as infections are on the rise again in Europe.. And as Mobin Nasir reports, authorities are hoping to quickly approve the use of these drugs. We had a chat with Doctor Bharat Pankhania who joined us from Bath in the UK. He's a Senior Clinical Lecturer at the University of Exeter's medical school.

#COVID19Treatment #Pill #Merck

Many of the predicted effects of the climate crisis won't actually be seen for decades to come. That means it's not today's leaders and policymakers that will suffer. The burden will fall directly on the shoulders of today's youth, who will have to deal with a world made more hostile by centuries of industrialisation. As Paolo Montecillo reports, youth groups are putting pressure on their elders to secure a better future.

#ClimateCrisis #YouthActivists #PolicyMakers

- Biden administration approves $650M arms sale to Saudi

- Russia wins bid to overturn $50B Yukos payment

- IAG narrows Q3 losses as travel restrictions ease

#ArmsSale #Yukos #IAGEarnings