Sectors News Results

  • China Vows to Liberalize Interest Rates, Open Up Financial Sector

    BEIJING--China's State Council said Thursday that it would further liberalize its benchmark interest rates and open up domestic financial sector to overseas investors. In a broad guideline published on the government's website, the cabinet said it would steadily push ahead interest rate liberalization by making benchmark deposit and loan rates more market oriented. China scrapped the benchmark loan rate last year and replaced it with a new interest-rate regime more...

  • Coronavirus Tests Viability of Home-Flipping iBuyers

    Ripple effects from the coronavirus pandemic are disrupting the burgeoning industry of online all-cash home sales known as iBuying, setting up the business's first major test in its brief history. The four biggest iBuyers-- Opendoor Labs Inc., Zillow Group Inc. (ZG), Offerpad LLC and Redfin Corp.-- each stopped buying homes in late March with sales in the housing market expected to slow sharply this year. In some cases, these companies are backing out from pending home purchases and...

  • China's Exports and Imports Improved in March, Commerce Ministry Says

    BEIJING--China's foreign trade and domestic consumption showed signs of improvement in March after the government made progress in containing the coronavirus and pushed to restart economic activity, the Commerce Ministry said Thursday. Both exports and imports improved in March after declining sharply in the first two months of the year, Gao Feng, the ministry's spokesman, said in a weekly briefing. However, China's export sector still faces headwinds from the spread of the...

  • China's Retail Sales of Passenger Vehicles Fell 36% in March

    Retail sales of passenger vehicles in China dropped 36% in March from a year earlier, a preliminary count from the China Passenger Car Association showed. China's retail market for cars has stabilized, as last month's decline was smaller than the 78% plunge in February, when the coronavirus outbreak was at its peak in the country, the industry group said Wednesday. Retail sales of passenger vehicles dropped 50% in the first week of March, but the decline steadily narrowed to 24% in...

  • Fed Report: Small-Business Sector Highly Vulnerable to Coronavirus Crisis--Update

    Even the best-managed small businesses are in a very vulnerable position as they try to weather the shutdown of much of the U.S. economy during the coronavirus crises, according to the Federal Reserve Bank of New York. A report released Tuesday by the bank said that among "healthy" small businesses in late 2019, about 20% of them had enough cash saved to operate normally for only two months if their revenue were to dry up. Among less financially secure companies, only 10% could operate...

  • Fed Report: Small-Business Sector Highly Vulnerable to Coronavirus Crisis

    Even the best-managed small businesses are in a very vulnerable position as they try to weather the shutdown of much of the U.S. economy during the coronavirus crises, according to the Federal Reserve Bank of New York. A report released Tuesday by the bank said that among "healthy" small businesses, about 20% of them have enough cash saved to operate normally for two months if their revenue were to dry up. Among less financially secure companies, only 10% could operate normally on...

  • Brazil Retail Sales Increased in February as Shoppers Bought More Furniture

    SAO PAULO--Brazil retail sales rose in February as shoppers bought more furniture and household appliances. Sales rose a seasonally adjusted 1.2% in the month, after declining in January, and advanced 4.7% from February 2019, the Brazilian Institute of Geography and Statistics, or IBGE, said Tuesday. In January, sales fell a revised 1.4% in the month and increased a revised 1.4% from a year earlier.

  • Real-Estate Investors Eye Potential Bonanza in Distressed Sales

    A growing number of property investors are preparing for what they believe could be a once-in-a generation opportunity to buy distressed real-estate assets at bargain prices. Investment firms like Blackstone Group Inc. (BX), Brookfield Asset Management (BAM) and Starwood Capital Group are sitting on billions of dollars in cash and capital commitments they have raised from pensions, sovereign-wealth funds and other big institutions in recent years. Many of these firms are eyeing...

  • German Industrial Production Unexpectedly Rose in February

    German industrial production unexpectedly rose on month in February, federal statistical office Destatis said Tuesday, adding that the coronavirus didn't yet have any notable impact on the indicator for the German industrial sector. Total industrial output--comprised of output in manufacturing, energy and construction--increased 0.3% in February from January, in calendar-adjusted terms. Economists had forecast a 0.9% decline in February, according to a poll by The...

  • Samsung Profit Forecast Indicates Limited Coronavirus Impact -- Update

    Samsung Electronics Co. (SSNLF) provided some hope that the business slowdown spurred by the coronavirus pandemic might only moderately dent one of the world's largest technology companies, delivering a profit forecast above analysts' expectations Tuesday. The South Korean giant's projected 2.7% rise in first-quarter operating profits provides one of the first corporate indicators of how large an impact the coronavirus will have both on the global technology market and the...

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News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.