Money Digest

Goldman faces UK probe over reporting process

Goldman Sachs Group Inc is facing a probe from UK regulators over its reporting practices tied to new rules in European markets, Bloomberg reported on Friday, citing people with knowledge of the matter. The Financial Conduct Authority (FCA) has been investigating the matter this year, according to the report here.

Aug 20 2018

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Canada’s inflation rate hit three percent

Canada’s inflation rate hit three percent in July, the highest level since 2011, according to Statistics Canada on Friday. The country’s Consumer Price Index (CPI) rose three percent on a year-over-year basis in July as higher prices for airplane tickets, tourism and gasoline pushed the rate up.

Aug 20 2018

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DBRS rating agency confirms Malta’s A rating

The credit rating agency DBRS has affirmed Malta’s long-term rating at A, and it’s medium-term rating at R-1 (middle), with a stable outlook. The agency said Malta’s economic performance had been better than the European average, with its fiscal surplus having outperformed expectation.

Aug 20 2018

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China’s road cargo traffic expands in July

China’s road freight transport continued to expand in the first seven months of 2018, the Ministry of Transport said on Sunday. From January to July, the amount of cargo carried on roads, which takes up the lion’s share in China’s total cargo transport, increased 7.5 percent year on year to 21.38 billion tonnes, the ministry said in a statement. In July alone, road cargo traffic rose 6.4 percent to 3.4 billion tonnes, the statement said.

Aug 20 2018

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17 companies debut on China’s ‘new third board’

China’s National Equities Exchange and Quotations (NEEQ), also known as the “new third board,” saw the debut of 17 small and medium-sized enterprises from August 13 to 17. With the newcomers, the total number of companies on the board reached 11,096, according to the exchange.

Aug 20 2018

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ValueAct invests $800 million in financial stocks

Activist hedge fund ValueAct Capital Management boosted investments in financial stocks by more than $800 million during the second quarter, citing attractive risk-adjusted values of big banks, according to a client letter viewed by Reuters.

Aug 20 2018

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