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Mortgage companies could exacerbate the next recession, US officials warn
US officials are worried that due to a sharp drop in housing prices, a freeze in financial markets, and a sharp rise in default rates, the mortgage industry has experienced a series of failures, which may exacerbate the next recession. The US Financial Stability Oversight Council (US Financial Stability Oversight Council) issued a warning on Friday in an area that is increasingly influential in the industry but has largely escaped scrutiny: non-bank mortgage companies. The Commission is a financial supervisory SWAT team established after the 2008 financial crisis. Unlike traditional banks, like Rocket Mor
Geely Automobile Buys ZEEKR ADSs for Nearly $271 Million
Geely Automobile Holdings (HKG:0175) provided an update on non-wholly owned subsidiary ZEEKR Intelligent Technology Holding's proposed spin-off, saying 21 million American depositary shares (ADSs) pri
Chinese-Brand Passenger Vehicle Sales Rise 27% in January-April Period
Chinese passenger sales for the first four months hit 4.66 million vehicles, a nearly 27% increase from the prior-year period to 4.66 million units, Xinhua News Agency reported Sunday, citing data from the China Association of Automobile Manufacturers.
Geely's Zeekr EV Unit Jumps Nearly 35% in NYSE Debut
Shares of Zeekr Intelligent Technology closed 34.6% higher at $28.26 apiece during its first trading day on the New York Stock Exchange Friday. Zhejiang Geely Holding Group's electric vehicle brand pr
Cui Dongshu: Auto market retail sales basically got off to a good start in the first quarter of 2024
The Zhitong Finance App learned that recently, Cui Dongshu released an analysis of the operating characteristics of the national passenger car market in April. Auto market retail sales in the first quarter of 2024 basically achieved the expected good start. Although April had 22 working days, two more days than the previous year, there was a strong wait-and-see atmosphere among consumers due to price instability and other factors, and passenger car retail sales showed a cyclical month-on-month downward trend in April. The price war for new energy vehicles has brought about a certain increase, but it is not very sustainable, and internal segmentation is serious. With the introduction and gradual implementation of trade-in and end-of-life renewal policies, the Ministry of Commerce organized and carried out national automobile trade-in promotions, automobile manufacturers and sales
China Sells 850,000 NEVs in Apr, Down 3.7% From Mar, CAAM Data Show
Excluding exports, domestic NEV sales in April were 736,000 units, up 37.31 percent year-on-year but down 2.9 percent from March.
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