FT News Briefing China unleashes stimulus blitz
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Sep 25, 2024 The U.S. Department of Justice has launched an antitrust suit against Visa, alleging unfair practices in the debit card market. Meanwhile, China is rolling out a major stimulus package aimed at jump-starting its sluggish economy, tackling issues in the property sector. The discussion also highlights Sri Lanka's political shift with a new leftist president who promises reforms amid a serious economic crisis, emphasizing the urgency of securing an IMF deal for financial stability.
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China's Economic Challenges
- China's economy faces deflation and low consumer confidence.
- Government stimulus targets real estate and stock markets, but direct fiscal spending is needed.
Trafigura's New Era
- Trafigura appointed Richard Holtum, head of gas, power, and renewables, as new CEO.
- This signals a shift towards newer energy markets for the trading house.
Sri Lanka's New Leadership
- Sri Lanka's new president, Anurakumara Dhanayaka, promises a fresh start amid an economic crisis.
- He aims to make the IMF bailout terms more favorable for the poor.