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The license of the rating agency Dagong Global Credit Ratings has been suspended by Chinese regulators, South China Morning Post reports. Dagong is one of the three largest rating agencies in China, which actions were repeatedly criticized by international experts, noting the overestimation of the ratings of Chinese issuers. Foreign rating agencies currently can operate in China only as part of joint ventures with local companies. As noted by the representative of the Chinese Commission for Regulation of the securities market, during the audit of the office of Dagong, violations in the use of the official press, “chaotic management”, high fees for consulting services, problems in financial models used in issuing bond ratings were detected.
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed. In June, passenger car sales were ...
The dollar firmed on Thursday as a decline in Chinese retail sales worried investors, while the rest of the market anticipates the EU summit this weekend. The euro was down 0.1% to $1.1401, while the dollar stood at 106.95 on the yen. The ...
Gold traded lower earlier on Thursday in Asia but still remained above the $1,800 mark for three consecutive days. Gold futures lost 0.04% to $1,819.95 per ounce at 10:22 PM ET (3:22 AM GMT), with the yellow metal holding on to gains from ...
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