Author: Wolf Richter

HSBC Announces Mass Job Cuts, Huge Write-Down, Asset Sales, Halt of Share Buybacks. Warns of Coronavirus Impact on Credit Losses & Revenues in China & Honk Kong

HSBC Announces Mass Job Cuts, Huge Write-Down, Asset Sales, Halt of Share Buybacks. Warns of Coronavirus Impact on Credit Losses & Revenues in China & Honk Kong These days, markets forgive and forget anything except the suspension of share buybacks....

Credit-Card Interest Rates Soar to Record High, Bond Yields Drop to Record Low: What Gives?

Credit-Card Interest Rates Soar to Record High, Bond Yields Drop to Record Low: What Gives? My “Credit-Card Spread Index” blows out. Heck if I knew what that means, but it doesn’t mean anything good. By Wolf Richter for WOLF STREET. The average yield...

Who Stole Americans’ Personal Data in Equifax Hack? China’s Military & How They Did it: US DOJ in 9-Count Indictment

Who Stole Americans’ Personal Data in Equifax Hack? China’s Military & How They Did it: US DOJ in 9-Count Indictment Department of Justice indicts four members of China’s PLA. “We have the capability to remove the Internet’s cloak of anonymity.”...

What Will the Coronavirus Do to the US & Chinese Economy?

What Will the Coronavirus Do to the US & Chinese Economy? Is this the black-swan event people have been predicting for years? By Wolf Richter. This is the transcript from my podcast last Sunday, THE WOLF STREET REPORT: The numbers are...