ILEA001252783: U.S., Europe in bank turbulence, triggering fears globally

A closer look at China's economic steadiness, vitality and potential

STORY: A closer look at China's economic steadiness, vitality and potential SHOOTING TIME: Recent footage DATELINE: April 25, 2024 LENGTH: 0:02:41 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of Chinese economy related footage 2. SOUNDBITE 1 (Arabic): DIAA HELMY, Secretary-general, Egyptian-Chinese Chamber of Commerce 3. SOUNDBITE 2 (English): BENJAMIN MGANA, Chief Editor of Foreign News of The Guardian, Tanzania 4. SOUNDBITE 3 (English): BRENDAN AHERN, Chief investment officer with U.S.-based asset management firm Krane Funds Advisors LLC 5. SOUNDBITE 4 (English): XN IRAKI, Kenyan economist 6. SOUNDBITE 5 (English): STEPHEN PERRY, President emeritus of Britain's 48 Group Club STORYLINE: China's economic performance for the first quarter of this year was unveiled. Notably, the National Bureau of Statistics (NBS) reported a 5.3 percent year-on-year GDP increase in Q1, exceeding market projections and surpassing the government's annual target of around 5 percent. The performance is described as

U.S. investor bullish about China's economic growth after industrial data

STORY: U.S. investor bullish about China's economic growth after industrial data SHOOTING TIME: Recent footage DATELINE: April 4, 2024 LENGTH: 0:02:43 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of China 2. SOUNDBITE 1 (English): BRENDAN AHERN, Chief investment officer with U.S.-based asset management firm Krane Funds Advisors LLC 3. SOUNDBITE 2 (English): BRENDAN AHERN, Chief investment officer with U.S.-based asset management firm Krane Funds Advisors LLC 4. SOUNDBITE 3 (English): BRENDAN AHERN, Chief investment officer with U.S.-based asset management firm Krane Funds Advisors LLC STORYLINE: The latest economic data from China once again signals positivity, particularly in the manufacturing sector, which rendered overseas investors and entities bullish. The figures included the nation's manufacturing PMI, non-manufacturing PMI, and comprehensive PMI output index, which stood at 50.8 percent, 53.0 percent and 52.7 percent respectively, with each climbing 1.7, 1.6 and 1.8 points.

Investors should consider non-U.S. stocks, including Chinese equities, says U.S. veteran investor

STORY: Investors should consider non-U.S. stocks, including Chinese equities, says U.S. veteran investor SHOOTING TIME: Dec. 18, 2023 DATELINE: Dec. 19, 2023 LENGTH: 00:02:01 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of stock exchanges in China 2. SOUNDBITE 1 (English): BRENDAN AHERN, Chief investment officer with Krane Funds Advisors 3. SOUNDBITE 2 (English): BRENDAN AHERN, Chief investment officer with Krane Funds Advisors 4. various of U.S. and China STORYLINE: Investors should consider non-U.S. stocks, including Chinese equities, given such factors as a rebalancing effect in global equity markets, low valuation in Chinese stocks, and resilience in the Chinese economy, according to a senior U.S. strategist. SOUNDBITE 1 (English): BRENDAN AHERN, Chief investment officer with Krane Funds Advisors "One of the potential catalysts for Chinese equities is simply a weaker U.S. dollar. For many foreign investors, if the U.S. dollar does weaken, that will hurt their returns, and so they m

One after another, U.S. banking crisis deemed far from over

STORY: One after another, U.S. banking crisis deemed far from over DATELINE: May 11, 2023 LENGTH: 00:02:26 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of the Federal Reserve 2. various of a First Republic Bank branch in Manhattan, New York 3. New York Stock Exchange on Wall Street 4. SOUNDBITE 1 (English): CHARLES READ, Scholar in economics and history at the University of Cambridge 5. various of a Silicon Valley Bank branch 6. SOUNDBITE 2 (English): GIORGIO DI GIORGIO, Professor of macroeconomics and monetary policy at Rome's LUISS University 7. various of a Signature Bank branch in Manhattan, New York 8. various of pedestrians in New York 9. SOUNDBITE 3 (Turkish): MURAT TUFAN, Analyst with Turkish broadcaster Ekoturk 10. various of pedestrians in New York STORYLINE: In a dramatic move aimed at curbing the two-month banking crisis, U.S. regulators seized control of First Republic Bank and sold it to JPMorgan Chase earlier this month. However, stocks of regional banks in the U.S. continue to

Fed's aggressive actions contribute to recent U.S. bank failures: experts

STORY: Fed's aggressive actions contribute to recent U.S. bank failures: experts DATELINE: May 9, 2023 LENGTH: 0:02:30 LOCATION: NEW YORK, U.S./London CATEGORY: POLITICS SHOTLIST: 1. various of the press conference at the U.S. Federal Reserve 2. various of branches of Silicon Valley Bank, Signature Bank and First Republic Bank 3. SOUNDBITE 1 (English): CHARLES READ, Scholar in economics and history at the University of Cambridge 4. SOUNDBITE 2 (English): BRENDAN AHERN, Chief Investment Officer of U.S.-based asset management firm Krane Funds Advisors STORYLINE: The U.S. Federal Reserve has implemented the 10th interest rate hike in about a year. The Fed's historical tightening, which has pushed the central bank's benchmark rate to its highest in nearly 16 years, has resulted in some "side effects," notably in the banking industry. Many economists and analysts believe that the Fed's aggressive actions played a role in the recent failures of three U.S. banks and that more regulations are needed to prevent t

European banks remain vulnerable to financial sector shocks: analysts

STORY: European banks remain vulnerable to financial sector shocks: analysts DATELINE: April 3, 2023 LENGTH: 0:02:01 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of European banks 2. SOUNDBITE 1 (English): LORENZO FORNI, Professor of economic policy from Italy's University of Padua 3. various of Credit Suisse 4. various of Silicon Valley Bank 5. various of Signature Bank 6. SOUNDBITE 2 (English): LORENZO CODOGNO, Chief economist of LC Macro Investors Ltd. 7. various of Deutsche Bank STORYLINE: European banks are better prepared than those elsewhere in the world for crises such as the failure of two regional banks in the United States earlier this month. However, analysts say they remain vulnerable to changes in consumer confidence, and weaknesses in the financial sector. SOUNDBITE 1 (English): LORENZO FORNI, Professor of economic policy from Italy's University of Padua "The deep root of these financial events is related to confidence. I mean, you can have very strong fundamentals, but you know,

Greek experts call for vigilance after banking turmoil in U.S., Switzerland

STORY: Greek experts call for vigilance after banking turmoil in U.S., Switzerland DATELINE: March 31, 2023 LENGTH: 00:02:18 LOCATION: Athens CATEGORY: ECONOMY SHOTLIST: 1. various of the Bank of Greece 2. SOUNDBITE 1 (Greek): VALIA ARANITOU, Associate professor, Athens and Kapodistrian University 3. SOUNDBITE 2 (Greek): PANAGIOTIS PETRAKIS, Emeritus professor, National and Kapodistrian University of Athens 4. various of views in Athens STORYLINE: Greek experts have called for vigilance and rapid action in the wake of the banking turmoil triggered by the collapse of three U.S. banks and the crisis at Swiss banking giant Credit Suisse this spring. Greek experts have said that despite there being no imminent threats to the Greek or European banking system and economy and that a repeat of the 2008 financial crisis is unlikely, vigilance is required after such banking turmoil. SOUNDBITE 1 (Greek): VALIA ARANITOU, Associate professor, Athens and Kapodistrian University "I find the U.S. banking crisis right no

Reforms soften blow of Europe's banking crisis but risks remain

STORY: Reforms soften blow of Europe's banking crisis but risks remain DATELINE: March 26, 2023 LENGTH: 00:02:21 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1.various of European banks 2.various of Silicon Valley Bank 3. SOUNDBITE 1 (English): LORENZO ROCCO, Professor, Department of Economics and Management, University of Padova 4.various of European banks 5.SOUNDBITE 2 (English): ANDREA GIURICIN, Professor of finance and mobility management at Bicocca University in Milan 6.various of European Union STORYLINE: European analysts said that financial sector reforms put into place in the wake of the global financial crisis 15 years ago have so far helped protect European banks from being hit harder by the ongoing banking crisis. But the latest round of problems have still not fully run their course. The current banking sector fragility was sparked by the collapse of two regional banks in the United States -- Silicon Valley Bank in California and New York's Signature Bank. Soon after, Switzerland's Credit Suiss

Deutsche Bank stocks sink

STORY: Deutsche Bank stocks sink DATELINE: March 26, 2023 LENGTH: 00:01:11 LOCATION: FRANKFURT, Germany CATEGORY: ECONOMY SHOTLIST: 1. various of the Deutsche Bank and Commerzbank AG 2. various of street views STORYLINE: The share prices of Germany's biggest lender Deutsche Bank (DB) plunged on Friday as concerns about the health of European banks are mounting in the wake of the collapse of banks in the United States. DB topped the list of companies that suffered the sharpest decline of their shares on the German stock exchange (Deutsche Boerse), down 8.53 percent at closing on Friday. The share price of Commerzbank AG, the second largest bank in Germany, dropped 5.45 percent. DB has lost some 30 percent of its market value since the onset of worries about the banking sector sparked by the shutdown of the U.S. Silicon Valley Bank about two weeks ago. There is still no sign that investors' nervousness about European banks is abating. The slump of share prices of DB and Commerzbank is believed to

Silicon Valley Bank collapse shakes confidence in U.S. banking, says expert

STORY: Silicon Valley Bank collapse shakes confidence in U.S. banking, says expert DATELINE: March 21, 2023 LENGTH: 00:04:16 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): CHARLES READ, Scholar in economics and history at the University of Cambridge STORYLINE: The collapse of Silicon Valley Bank (SVB), once the 16th largest bank in the United States, has "shaken confidence in U.S. banking" as concerns have mounted over bank deposits, an expert has said. The tech-heavy SVB's demise has "made people far more likely to worry about their bank deposits, and any rumors will be acted upon ... faster. I think that's a big risk," Charles Read, a scholar in economics and history at the University of Cambridge told Xinhua on Tuesday. Read said that since the 2008 global financial crisis, people were no longer as trusting of the banking sector, and bank runs would therefore happen more rapidly. Technology has also made it easier to take money out of banks online, and people will do this

U.S., Europe in bank turbulence, triggering fears globally

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