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US stocks lose $2.2 trillion in six days
Asian stocks take heart from a sharp rebound in US shares, breaking a six-day losing streak which plunged global markets into mayhem.
The turnaround came after carnage on global markets which shaved $2.2 trillion off US stocks, with China being at the epicenter of the financial tremors.
China’s Shanghai Composite Index on Thursday rose 2.2% to reclaim the critical 3,000 mark. The benchmark’s steep...
Western Banks In Turmoil As British Banking Giant HSBC Nears Total Collapse
The Ministry of Finance (MoF) is reporting today that British banking giant HSBC is nearing a total collapse after its having lost a staggering nearly $1 trillion due to the ongoing Great 2015 Global Market Crash and earlier today it completely ran out of cash to pay its obligations and depositors.
According to this report, HSBC is a multinational banking and financial services company headquartered...
China gets rid of US Treasuries
China sells the US Treasuries to smooth the consequences of the devaluation shock of August 11.
The treasury of the country adopted selling the US Treasuries securities directly, as well as through agents in Belgium and Switzerland.
The Chinese government also decided to reduce investments into the US Treasuries.
The US Secretary of the Treasury Jacob Lew has previously talked with the Vice Premier...
Markets plunge worldwide after biggest slide in Chinese stocks since 2007
World stock markets plummeted on Monday as the Shanghai composite closed down 8.5%, marking the biggest slide in Chinese stocks since 2007. The brutal sell-off comes despite Beijing’s measures to arrest the decline.
“This is a real disaster and it seems nothing can stop it,” Chen Gang, Shanghai-based chief investment officer at Heqitongyi Asset Management Co., told Bloomberg. “If we don’t...
China Starts Currency War
Beijing’s depreciation of the yuan in mid-August has triggered a wave of copycat moves from other countries and falling values of currencies. Is this a new currency clash, or is each case specific?
What happened in China?
In three consecutive days last week, the People’s Bank of China devalued the national currency, with a 4.4 percent overall depreciation. The step was intended to revive exports,...
The Global Economy Is Officially Melting Down
As much as the financiers on Wall Street and the officials at the Fed would like the party to keep going, it looks it’s finally about to stop.
Years of bailouts and monetary expansion have created one of the most inflated and artificial economic booms in history, and now it appears that this global economic bubble is deflating.
Markets across the board are melting down as we speak, and the financial...
Death Toll From Tianjin Warehouse Explosions in China Reaches 112
The death toll in a series of explosions in the Chinese city of Tianjin has increased to 112.
The death toll in a series of explosions that have occurred in the warehouse of hazardous substances in the Chinese city of Tianjin has increased to 112, with the identity of only twenty-four people known so far, Chinese Central Television (CCTV) reported on Sunday.
Earlier, it was reported that the death...
Subway construction collapses into giant sinkhole in China
On August 13, a giant sinkhole appeared on the construction site of a subway station in the city of Dongguan, China.
According to The South China Morning Post, the sinkhole was originally 80 m2 before expanding to 300 m2. The contractor started pouring concrete into the hole to stop it from sinking further.
One person was killed as a result of the tragedy.
Meanwhile, the death toll from the recent...
44 Killed and 500 Injured in Huge Chinese Port Blast
The death toll from a series of explosions at an industrial area in the Chinese port of Tianjin in northern China has risen to 44, authorities say.
More than 500 people were also injured – 66 of them in critical condition – in the explosions, state media reported on Thursday.
Those killed, according to the official Xinhua news outlet, included 12 firefighters, who were trying to battle the fires...
Chinese Motorists Spot Enormous New Missile Transport and Launch Vehicle
Pictures have surfaced of what is believed to be the largest ever Chinese military vehicle for transporting and launching missiles.
Transporter Erector Launcher (TEL) vehicles are used to quickly transport and fire surface-to-air, cruise and ballistic missiles.
Chinese drivers have recently spotted a new version of the vehicle, which appears similar to the military’s standard TEL, except that...
Typhoon kills 6 and injures 200 in Taiwan, hits China
Rescue workers save a child as Typhoon Soudelor strikes Taiwan on August 8, 2015.
Powerful Typhoon Soudelor has ripped through central Taiwan with severe winds and torrential rain, killing at least six people and wounding nearly 200 others while leaving some 4 million households without power.
Five more people were reported missing as of 10 pm local time Saturday after the strong storm made landfall...
Chinese hero cop rescues baby girl dumped in the pipe of a Beijing public toilet
The picture of a heroic Chinese cop rescuing a newborn baby girl, who was dumped in the pipe of a public toilet in Beijing, has captured a lot of hearts. The baby survived and is now recovering in a local hospital thanks to her guardian angel.
A police station in western Beijing received a call from locals who said they heard baby crying in the public toilet. The officer Qian Feng immediately rushed...
China, Russia to hold joint military drills in Sea of Japan
China and Russia are set to hold joint military exercises in the airspace and waters of the Sea of Japan as part of the growing defense cooperation between the two countries.
Chinese Defense Ministry spokesman Yang Yujun told reporters in Beijing on Thursday that an eight-day drill will be conducted on August 20-28 in the Peter the Great Gulf and other areas off the Russian coast.
The areas of the...
The Persecution Of Christians Is Intensifying As Anti-Christian Hatred Sweeps The Entire World
There is very little that the entire world seems to agree upon, but there is one very frightening trend that is now taking hold literally all over the globe.
There is very little that the entire world seems to agree upon, but there is one very frightening trend that is now taking hold literally all over the globe. A passionate hatred of Christianity is sweeping across the planet, and very few global...
US plays with fire in South China Sea
Adm. Scott Swift speaks to journalists on Friday, July 17, 2015 in Manila, Philippines.
An American political commentator says the United States is trying to escalate tensions in the South China Sea, which can lead to tragic consequences.
Professor Dennis A. Etler made the remarks in a phone interview with Press TV on Sunday while commenting on Washington’s decision to start surveillance flights...