After a rare mass demonstration, bank depositors demanding their money back were beaten, kicked to the ground and dragged away in the city of Zhengzhou.
Tag: Banking and Financial Institutions
Russia Appears to Miss Its Foreign Debt Payment Deadline
Economic sanctions that blocked bond payments have strengthened efforts to seal off Moscow from global markets.
Russia Appears to Miss Its Foreign Debt Payment Deadline
This default would be unusual because it would be a result of economic sanctions blocking transactions, not because the government has run out of money.
A Chinese City May Have Used a Covid App to Block Protesters
People from across China had set off for the city of Zhengzhou to protest the freezing of their savings. Then they were prevented from moving freely.
Seizing Russian Assets to Help Ukraine Sets Off White House Debate
Some European officials want to use more than $300 billion in Russian central bank assets to rebuild Ukraine. But Biden administration officials warn that diverting those funds could be illegal.
Pakistan Raises Fuel Prices in Effort to Stabilize Economy
The interim government’s move was seen as a bid to revive a $6 billion bailout from the International Monetary Fund.
How an Organized Republican Effort Punishes Companies for Climate Action
Legislators and their allies are running an aggressive campaign that uses public money and the law to pressure businesses they say are pushing “woke” causes.
E. Gerald Corrigan, Who Helped Ease ’87 Stock Crash, Dies at 80
As president of the Federal Reserve Bank of New York, he favored flooding the financial system with cash to restore confidence among investors.