Six months after sell-offs in Shanghai began to reverberate through markets worldwide, bond-rating agencies continue to rate Chinese banks' credit as investment grade, suggesting that if China does lead the world into recession, it will be a different affair than the sudden, sharp downturn catalyzed by the collapse of Lehman Bros
EPS have dropped 25 percent from their August 2011 peak, Garner said, pointing to MSCI data.
As the daily drumbeat of official announcements aimed at propping up the sinking equity market continued, state news agency Xinhua said police would investigate "malicious" short selling of stocks, and the banking regulator said it would allow lenders to roll over loans backed by stocks.
Transparency, it's a commodity sorely lacking in most multi-national companies the world over. That's the word from Transparency International, which has studied 105 of the world's largest listed companies, including India's own Reliance Industries and ONGC, reports CNBC-TV18's Ronak Jain and Sumit Lakhotia.
Breaking up China's biggest banks would be the 'most aggressive reform measures' seen in post-1978 China, a Beijing-based economist told CNBC on Wednesday, adding that it was badly needed if growth in the world's second-biggest economy was to be sustained.
The Chinese government is working with domestic Internet search engines like Baidu Inc and Sohu.com ...
Bank of America chief executive Brian Moynihan is taking another step towards shoring up the embattled bank. Offloading around half BofA's 10-percent stake in China Construction Bank for USD 8.3 billion is a double boost to capital.
Troubled US financial giant Bank of America said today it would sell roughly half of its 10% stake in China Construction Bank for approximately USD 8.3 billion in cash.
Singapore state investor Temasek sold stakes in two of China's biggest banks on Wednesday, piling more pressure on mainland lenders amid concerns about rising bad debts.