September 24Th Global Media Finance Headlines

New York Times: it is rumored that the US government will control the general purpose. Company stock Scale of issue

According to people familiar with the matter, General Motors's initial public offering (IPO) will be smaller than the previous plan, and the US government will probably sell only a small portion of its 61% stake. In order to allow the government to sell its shares at the highest price, the person familiar with the matter said, General Company plans to sell shares worth between $8 billion and $10 billion, much less than previous internal targets.

Washington Post: USA FDA New restrictions on the use of Avandia

The US Food and Drug Administration announced on Thursday that GlaxoSmithKline Co's Avandia, a diabetes drug, will be withdrawn from the European market and will only be allowed to continue to sell in the US market, subject to new severe restrictions. The European Medicines Agency believes that Avandia may lead to heart attack and stroke more than the benefits it can bring. The US Food and drug administration has decided to allow the drug for diabetics without any other choice.

USA Today: passed by the US Congress Small business The aid plan will be sent to Obama for signature.

On Thursday, the US House of Representatives approved the bill with 237 votes in favour and 187 votes against it. The bill will help smaller businesses that are in trouble through more liberal credit and other incentive policies and encourage them to expand their businesses and employ new workers. The main content is to set up a $30 billion fund to support community banks to provide loans to small businesses and to reduce taxes for small businesses by $12 billion over the next ten years. The Senate passed the bill by a narrow margin just a week ago. President Obama will formally sign the bill on Monday to make it a law.

Guardian: Ji Qin no longer holds HSBC CEO

Ji Qin finally lost the trust of HSBC's board of directors. After the intense conflict with directors' opinions, the board decided that by the end of the year, Ji Qin would no longer be a CEO. At this point, Ji Qin is likely to end his 37 year career in HSBC. Stuart Gulliver, head of HSBC holdings investment bank, will be the next CEO. HSBC is always proud of the seamless convergence of management personnel. The intense conflict erupted around the chairman's candidate is beyond expectations. However, HSBC has yet to decide the chairman.

Daily Telegraph: the number of loans approved in August was 22% lower than the same period last year.

Data released on Thursday by the British Bankers Association showed that the number of mortgages approved in August fell by 22% year on year, falling for three months in a row, and the number dropped to its lowest level since April 2009. In August, only 31 thousand and 767 people in the UK approved the purchase of housing. Economists believe that the number of approved mortgages is below 36 thousand, which is consistent with the decline in house prices. Since the beginning of this year, the decline in activity has led some economists to believe that the double dip recession will appear in the UK mortgage market.

Financial Times: the EU intends to reform the public finances of its members.

EU economic and Monetary Affairs Commissioner Ryan on Wednesday introduced a bill calling for the biggest reform of the EU's economic governance. According to his proposal, members of the eurozone would be fined if they could not effectively control public finances. For euro zone countries which can not reduce the level of public debt, the penalty amount is equivalent to 0.2% of GDP. In addition, other euro zone countries will face other penalties if they cannot effectively control annual expenditure or reform the economy to enhance competitiveness.

India times inflation rate of food in India rose to 15.46%

In the week ending September 11th, the inflation rate of food in India rose to 15.46%. Due to heavy rains in many parts of India, including Delhi, the food supply was damaged, and the prices of oats, vegetables and milk rose. The weekly inflation rate of food rose 0.36%, up 15.10% from the previous week.

Sankei Shimbun: $1 =84.2 yen, the highest value since Japanese government intervened.

In the New York foreign exchange market in September 23rd, the US strengthened the observation of the additional financial easing policy and bought yen to sell the US dollar. At that time, the yen rose to 1 yen =84.2 yen, reaching the highest level since the Japanese government intervened in the foreign exchange market in September 15th.

NetEase financial daily pays close attention to the financial and economic news in important international areas, which extracts and summarizes the readers and provides richer international information.