China prevents second company default

Source: Bloomberg Businessweek
China stopped another default in its bond market, decreasing concerns which pointed out that the instability in the financial markets could develop as debt climbs and growth declines. The first default occurred when a company from Shanghai failed to pay part of the interest with reference to one billion yuan in debt. The second company, Huatong, managed to pay bonds with the help from Chinese governments and bond financiers, therefore avoiding default.
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Wed, 23 Jul 2014 16:19:09 GMT

Bank of Spain reports growth increase

Spain economic growth quickened in the second quarter of the year as the country is ready to start the second year of the upturn from the most severe recession in its democratic history. GDP grew 0.5% from the first quarter, when it increased 0.4%. The Prime Minister of Spain is loosening the efforts to cut the country's budget deficit to increase demand and lower the dependence

Wed, 23 Jul 2014 15:57:08 GMT

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Asia's fourth largest economy presumably experienced its weakest growth in the second quarter of the year since the beginning of 2013. The economy gained only 0.7% from April to June. South Korea's economy gained from a boost in the global economy, whereas domestic demand fell due to the ferry sinking in April. The BoK believes the economy will accelerate in the third quarter of 2014. 

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