News That Matters

Tag: record

China's new loans in Jan surge to record 2.9 trillion yuan, blow past forecasts

China's new loans in Jan surge to record 2.9 trillion yuan, blow past forecasts

Finance
China's banks extended a record 2.9 trillion yuan ($ 458.3 billion) in new yuan loans in January, blowing past expectations and nearly five times the previous month as policymakers aim to sustain solid economic growth while reining in debt risks.While Chinese banks tend to front-load loans early in the year to get higher-quality customers and win market share, the lofty figure was even higher than the most bullish forecast by economists in a Reuters poll.Net new loans surpassed the previous record of 2.51 trillion yuan in January 2016, which is likely to support growth not only in China but may underpin liquidity globally as major Western central banks begin to withdraw stimulus.Analysts polled by Reuters had predicted new yuan loans of 2 trillion yuan, up sharply from December's 584.4 bil...
Tesla reports record loss but says outlook is positive

Tesla reports record loss but says outlook is positive

Business
Electric car maker Tesla has notched up its biggest ever quarterly loss and said it "learned many lessons" from its crucial Model 3 production plans. The firm's future hangs on the Model 3 sedan, but it has so far struggled with production bottlenecks.Tesla reported a loss of $ 675.4m (£487m) in three months to 31 December, compared with $ 121.3m a year earlier. But it said revenues rose to $ 3.29bn, up from $ 2.28bn, and that it was addressing Model 3 production issues."At some point in 2018, we expect to begin generating positive quarterly operating income on a sustained basis," Tesla, which is yet to make a profit, said on Wednesday. Despite ongoing production bottlenecks, the electric car maker said it would continue to target Model 3 production rates of 2,500 by the end of the first q
Record falls on Wall St spark losses worldwide

Record falls on Wall St spark losses worldwide

Business
Shares across Asia have taken a heavy beating after New York's Dow Jones index suffered its biggest drop in six-and-a-half years.A wild day for US markets on Monday caused panic to spread. At one point, Japan's Nikkei 225 share benchmark plunged by 7.1%, but recovered some of the losses to close 4.7% down.Wall Street's record-breaking loss also saw Hong Kong's Hang Seng index fall by 5.12%, with South Korea's Kospi losing 1.4%.In China, the Shanghai Composite Index lost 3.35% - or 116.85 points - while the Shenzhen Composite Index, tracking China's second exchange, plunged 4.44%, or 80.21 points.The slump means the Dow Jones has wiped out of all of its gains so far in 2018, following months of surges fuelled by optimism about the US economy, corporate earnings and the global outlook.Many i...
One dead, five injured in record Moscow snowfall

One dead, five injured in record Moscow snowfall

World
Feb. 4 (UPI) -- Record snowfall in Moscow has resulted in travel delays, injuries and at least one death, according the mayor of the Russian capital.Moscow Mayor Sergei Sobyanin said a man died Saturday after a tree fell and knocked down power lines. Five other people were injured amid worsening weather conditions including heavy snowfall and powerful winds."Be careful. According to forecast, the weather will worsen," he wrote on Twitter.Sobyanin added the heavy snow and strong winds have downed more than 2,000 trees.More than half of Moscow's monthly precipitation average fell on Saturday, breaking a record set in 1957.As of Sunday, 109 flights at Moscow airports were delayed and 28 were canceled.Road conditions were also considered hazardous as Sobyanin instructed residents to stay insid...
iPhone sales dip despite record revenues

iPhone sales dip despite record revenues

Business
Apple's latest iPhone range sold about a million fewer handsets in the last three months of 2017 - but the firm still pulled in record revenues of $ 88.3bn (£62bn).The tech giant sold 77.3 million iPhones, down slightly on the same quarter the year before.However, sales of the pricey flagship iPhone X helped boost the company's profits to $ 20bn (£14bn).Experts have expressed doubts over the mainstream appeal of the phone (which starts at £999 in the UK and $ 999 in the US) and whether iPhone sales can continue to grow long term."Once you get past all the enthusiasts who want the iPhone X, you get down to a lot of people who think $ 1,000 is a lot of money for a phone," said analyst Bob O'Donnell of research firm Technalysis."We may be getting near the peak of the smartphone market, and th