ILEA001271929: Fed's aggressive actions contribute to recent U.S. bank failures: experts

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.

U.S. Fed leaves rates unchanged amid inflation progress

STORY: U.S. Fed leaves rates unchanged amid inflation progress SHOOTING TIME: Jan. 31, 2024 DATELINE: Feb. 1, 2024 LENGTH: 00:00:54 LOCATION: Washington, D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference 2. SOUNDBITE (English): JEROME POWELL, U.S. Federal Reserve Chair STORYLINE: The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as inflation continued to cool, while avoiding the signal of an imminent rate cut going forward. This latest policy meeting, the first in 2024, marked the fourth straight meeting for the central bank to hold policy rate steady. At a press conference Wednesday afternoon, Fed Chair Jerome Powell said that inflation eased from its highs without a significant increase in unemployment, which was "very good news," while noting that inflation remained above the Fed's longer-run goal of 2 percent. SOUNDBITE (English): JEROME POWELL, U.S. Federal Reserve Chair "Today, the FOMC decided to leave our policy

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

U.S. Fed pauses hike of interest rates

STORY: U.S. Fed pauses hike of interest rates DATELINE: June 16, 2023 LENGTH: 00:01:29 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of U.S. Federal Reserve Chair Jerome Powell attending the press conference 2. various of exterior of the U.S. Federal Reserve STORYLINE: The U.S. Federal Reserve on Wednesday kept the target range of the federal funds rate unchanged at 5 percent to 5.25 percent, following a slew of 10 consecutive hikes since March 2022. "Holding the target range steady at this meeting allows the committee to assess additional information and its implications for monetary policy," the Federal Open Market Committee (FOMC) said in a statement issued on Wednesday afternoon, after concluding its latest two-day policy meeting. The pause of interest rate hikes was widely expected as the year-on-year growth rate of the U.S. consumer price index slowed down to 4 percent in May, from a peak of 9.1 percent in June 2022. The Federal Reserve reiterated that it is strongly committed

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

Gun violence in U.S. fueled by special interest groups: experts

STORY: Gun violence in U.S. fueled by special interest groups: experts DATELINE: May 10, 2023 LENGTH: 00:03:07 LOCATION: Beijing CATEGORY: POLITICS/SOCIETY SHOTLIST: 1. various of people mourning at the shooting site in Texas 2. SOUNDBITE 1 (English): ANNA MALINDOG-UY, Vice President of Asian Century Philippines Strategic Studies Institute 3. various of a rally against gun violence 4. SOUNDBITE 2 (Arabic): AHMED ALIIBA, Journalist of Egyptian Al-Ahram newspaper 5. SOUNDBITE 3 (English): STEPHEN NDEGWA, International Relations lecturer, United States International University (USIU-Africa) 6. various of gun-free zone signs placed near Times Square, New York City 7. SOUNDBITE 4 (English): X.N IRAKI, Professor of Economics at the University of Nairobi 8. various of police force responding to the shooting in Texas STORYLINE: Once again, Americans mourned deaths caused by gun violence. Three shootings rocked Mississippi, California, and Texas last Friday and Saturday, killing at least 11 people and injuring doz

U.S. Fed hikes interest rates by 25 basis points

STORY: U.S. Fed hikes interest rates by 25 basis points DATELINE: May 5, 2023 LENGTH: 00:01:18 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. Various of the press conference at the U.S. Federal Reserve 2. Various of exterior of the U.S. Federal Reserve STORYLINE: The U.S. Federal Reserve on Wednesday raised the target range for the federal funds rate by 25 basis points to 5-5.25 percent, saying that the Fed "remains highly attentive to inflation risks." As the tenth hike since March 2022, the continuous tightening of monetary policy is in line with market expectations. Still, there are growing calls for pause of rate hikes as U.S. inflation eased recently and recession risks heightened. A group of 10 U.S. senators and Congress members sent a letter to Fed Chair Jerome Powell early this week, calling for a pause in interest rate hikes at the Fed's monetary policy meeting ending Wednesday. Xinhua News Agency correspondents reporting from Washington D.C. (XHTV)

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

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

STORY: U.S., Europe in bank turbulence, triggering fears globally DATELINE: March 19, 2023 LENGTH: 00:02:37 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of banks in U.S. and Europe 2. SOUNDBITE 1 (English): GIORGIO DI GIORGIO, Professor of macroeconomics and monetary policy at Rome's LUISS University 3. SOUNDBITE 2 (English): LARRY BENEDICT, CEO & founder of The Opportunistic Trader 4. SOUNDBITE 3 (English): BREDAN AHERN, Chief Investment Officer of U.S.-based asset management firm Krane Funds Advisors STORYLINE: U.S. financial markets have been quite volatile recently after the near-simultaneous collapse of Silicon Valley Bank, Silvergate Bank and Signature Bank challenged confidence in the financial system. The turmoil has sent shockwaves across the banking industry and caused the stock prices of European banks to plummet. The biggest victim so far was Credit Suisse. The second-largest Swiss banking group has secured an emergency loan from the country's central bank after its shares

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

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