The Federal Reserve's strategy of continually goosing the economy with a very low interest rate policy (VLIRP) combined with deregulation of the market for deposits, made it impossible for banks to follow the old business model of borrowing from depositors to lend to steady companies that were investing in the real economy. Little money was to be made by lending to productive, normal companies. So, banks and other financial firms developed business models based on consumer lending, often to nearly insolvent consumers, and betting on a few internet-based superstar firms that were aiming to seize monopoly profits.
The Hong Kong-listed company has shed nearly 40 percent in market value so far this year. It registered a decline for the ninth consecutive day on Wednesday by closing at HK6.4 (.5). While it jumped to be one of the top five companies in the world in terms of market value at the beginning of this year, along with Apple Inc and Microsoft Corp, it has now been squeezed out of the top 10 list.
The Fourth Plenary Session of the 19th Communist Party of China Central Committee will be held in October in Beijing, a meeting of the Political Bureau of the CPC Central Committee decided on Friday.
The Hong Kong Special Administrative Region government and legal professionals over the weekend strongly condemned acts of intimidation against the city's judicial officers, saying there is zero-tolerance for such illegal acts.
The Hong Kong-Zhuhai-Macao Bridge, which is regarded as an engineering marvel, celebrated its first anniversary on Wednesday.
The House impeached Trump for alleged abuse of power and obstruction of Congress. The crux of the case against him is the allegation that he withheld military aid and a White House meeting to pressure Ukraine to investigate former US vice-president Joe Biden and his son. Hunter Biden served on the board of Burisma, a Ukrainian energy company, while his father was US vice-president.
德州治疗早泄做手术大概需要多少钱
The Guangdong-Hong Kong-Macao Greater Bay Area aims at building a globally influential international innovation and technology hub, and Hong Kong's role should be "capitalizing its strengths to serve the country's needs," the HKSAR government's Secretary for Innovation and Technology Nicholas Yang said Tuesday, one day after China unveiled an outline development plan for the Greater Bay Area.
The Health Ministry said that as of Tuesday morning, nearly 300,000 homes spanning 12 prefectures in western Japan were still without water supply.
The Great Hall of the People. [Photo/IC]
The German carmaker is also "entering the first phase of a partnership by exploring mobility projects as well as smart city, autonomous driving and robo-taxi projects" with China's ride-hailing giant Didi Chuxing, said Volkswagen's China chief Jochem Heizmann during the recent Beijing auto show.