China’s benchmark stock index extended the biggest five-day rally in eight weeks as Chongqing Changan Automobile Co. led gains for consumer-discretionary shares and China Petroleum and Chemical Corp. rose. Banks fell.
China’s banking regulator ordered owners of the nation’s 68 trust companies to be prepared to provide funding or sell their stakes as the risk of defaults rises in the $1.9 trillion industry for high-yield investment.
The number of women on the boards of Britain’s biggest companies has reached 20.7 percent, compared with 17.3 percent last year, though most are only being appointed to non-executive roles, a report showed today.
Du Ronghai received an urgent phone call from his private banker at Industrial & Commercial Bank of China Ltd. about an investment opportunity promising a 10 percent annual return. Only for the privileged few, he was told.
The yuan is poised to weaken against the dollar in 2014 for the first time in five years after China’s central bank doubled the currency’s trading range, according to Bank of America Corp. and Barclays Plc.