China is preparing to allow pension funds managed by local governments to invest in the stock market for the first time, potentially channeling hundreds of billions of yuan into the country's sagging equity market.
U.S. stocks added to a global selloff on Monday as markets digested news of capital controls in Greece and the country veered toward a default on its debt, while the euro recouped some of its earlier losses against the dollar.
Crude oil prices get hit hard after Greece fails to reach a deal with creditors and the country called for a referendum. It seems that Greek Prime minister Alexi Tsipras did not have the courage to make a deal and instead opted for turmoil.
In this interview with The Gold Report, Sprott USA Holdings CEO Rick Rule and Stansberry & Associates Investment Research founder Porter Stansberry—the men behind the upcoming Sprott-Stansberry Vancouver Natural Resource Symposium—share their strategies for picking good companies no matter what happens on the political front.
Chinese stocks plunged over 7 percent on Friday, with one key index recording its biggest fall since 2008, hit by tight liquidity conditions ahead of the quarter-end and uncertainty over the central bank's easing policy.
China is to scrap the country's longstanding loan-to-deposit ratio requirement, the latest in a series of measures to reform the country's commercial banking sector and get more lending into a slowing economy.
The United States and China have begun formal talks on demands for market access for an investment treaty, China's Ministry of Commerce said on Friday, calling it a new phase in negotiations that could set the scope of an eventual deal.