A year ago, Catherine Liu employed more than 2,000 people at her five Shanghai luggage-making factories. Now, as the dwindling supply of low-paid young workers forces wages and costs higher, she has 1,200 left.
As the world’s largest national congress meets in Beijing to prepare for new leadership, likely successor Xi Jinping will inherit a roadblock to growth dating back almost to the era of Mao Zedong: the one-child policy.
Australian state bonds are set for the worst quarter relative to sovereign debt since 2008 as record borrowing needs spur regional authorities to increase their share of debt sales compared with corporate offerings.
JPMorgan Chase & Co. pays Jamie Dimon $1.21 million for every $1 billion of profit at the biggest U.S. bank. Industrial & Commercial Bank of China Ltd., the world’s most profitable, gives its top executive $9,400.
China’s biggest banks, set to post record profits for a fifth year, may report 2011 results marred by an increase in bad loans as an economic slowdown and faltering property market trigger defaults by borrowers.