Chinese Premier Li Keqiang’s plan to introduce deposit insurance is meant to comfort the nation’s savers as bad loans mount. In the bond market, it’s fueling speculation he’s preparing to let some banks collapse.
China’s banking regulator ordered some of the nation’s smaller lenders to set aside more funds to avoid a cash shortfall, three people with knowledge of the matter said, signaling rising concern that defaults may climb.
The Shanghai Stock Exchange said it’s “basically ready” to let foreign issuers sell stock, paving the way for companies from HSBC Holdings Plc to Coca-Cola Co. to list in the world’s second-biggest equity market.
U.S. Securities and Exchange Commission investigators may issue a public rebuke of Lehman Brothers Holdings Inc. and its former executives instead of suing them for actions that led to the firm’s 2008 failure, three people with direct knowledge of the matter said.