China reduces lending rates as the real estate crisis worsens.

Creative Media NewsTuesday, 23 August 2022, 2:000

China’s central bank has reduced its mortgage rate to stabilize the property market. The People’s Bank of China (PBOC) reduced the prime rate (LPR) for five-year loans by 1.5 percentage points, matching its largest reduction on record. Some construction projects have halted in the world’s second-largest economy as a result of a property crisis. Lockdowns...

Cineworld admits it is contemplating Chapter 11.

Creative Media NewsTuesday, 23 August 2022, 1:000

Cineworld has revealed that it is considering filing for bankruptcy in the United States as it continues to struggle with $5 billion in debt. However, the corporation, which also owns the Picturehouse chain in the United Kingdom, stated that its theatres would “stay open for business” and that there would be “no substantial effect” on...

Iconic Shanghai sights are darkened due to a power shortage caused by a drought.

Creative Media NewsMonday, 22 August 2022, 18:000

The Bund, an iconic skyline in the Chinese city of Shanghai, will not be lit for two nights to conserve energy, according to officials. The waterfront region is a famous tourist destination because it combines old and modern buildings. They had experienced power outages. Large portions of the world’s second-largest economy are experiencing a catastrophic...

Do new school uniform regulations save money for parents?

Creative Media NewsMonday, 22 August 2022, 14:000

Beginning in September 2022, a new law will safeguard parents in England against excessive school uniform fees. State schools will be required to remove extraneous branded items from their uniform requirements, making it easier for parents to buy elsewhere or hand down clothing. However, Shoana Qureshi-Khan is one mother who has not witnessed a decrease...

P&O Ferries is given an ultimatum when the company’s owner reports record profits.

Creative Media NewsSaturday, 20 August 2022, 4:000

The company’s move earlier this year to terminate 786 crew members without warning and replace them with significantly cheaper agency workers earning less than the minimum wage generated public criticism. The transport secretary has warned that P&O Ferries will have “no legal choice” but to pay crew members the minimum wage after the company’s owner...

China imprisons billionaire Xiao Jianhua for 13 years.

Creative Media NewsSaturday, 20 August 2022, 2:000

A Chinese-Canadian millionaire was sentenced to 13 years in prison and his corporation was fined over $8 billion (£6.7 billion) in China. A Shanghai court indicted Xiao Jianhua and his company Tomorrow Holdings with embezzlement and bribery. In 2017, Xiao, one of China’s wealthiest individuals, was last seen being carried away from a luxurious hotel...

Cineworld shares fall on worries of insolvency.

Creative Media NewsSaturday, 20 August 2022, 0:000

Concerns that the second-largest theatre chain in the world is poised to declare bankruptcy has caused a decline in Cineworld stock of over 60 percent. The corporation, which also owns the Picturehouse chain in the United Kingdom, is burdened by $5 billion in debt. Similar to other theatre businesses, Cineworld was severely affected by the...

July retail sales gain 0.3%, while the long-term downturn continues.

Creative Media NewsFriday, 19 August 2022, 23:000

The Office of National Statistics reports that sales of clothing and home products continue to decline, with customer feedback indicating that they are cutting back owing to rising prices and rising costs of living. According to official data, retail sales in the United Kingdom increased in July, but the longer-term declining trend in consumer spending...

A rising proportion of those under 30 pay expensive rent.

Creative Media NewsFriday, 19 August 2022, 9:000

Those under 30 are facing a growing rental crisis. According to the report, 40% in this age group now spend more than 30% of their income on rent, a five-year high. According to experts, spending this amount of cash on rent is unaffordable. Since the epidemic, the affordability of housing for young people in cities...

Super Orange HK’s attempt to acquire Pulsic is thwarted on security concerns.

Creative Media NewsFriday, 19 August 2022, 0:000

The United Kingdom has banned the takeover of an electrical design company by a Hong Kong company due to national security concerns. Super Orange HK had sought to buy Pulsic of Bristol. The government stated, however, that instruments might be utilized “to strengthen defense or technology capabilities.” This is the most recent effort to restrict...

Sir Jim Ratcliffe: Billionaire seeking to purchase Manchester United.

Creative Media NewsThursday, 18 August 2022, 21:000

Sir Jim Ratcliffe, a British millionaire, desires to purchase Manchester United. According to a Bloomberg story, the Glazer family is willing to sell a minority part in the club, prompting the 69-year-interest. old’s The Times was told by a representative of Ratcliffe’s that if the club is up for sale, Jim is a strong candidate...

US and Taiwan declare formal bilateral trade negotiations.

Creative Media NewsThursday, 18 August 2022, 20:000

The United States has declared that it will begin formal trade negotiations with Taiwan, weeks after House Speaker Nancy Pelosi’s controversial trip there. The first round of negotiations is planned to begin “early in the fall,” according to the U.S. Trade Representative’s office. They will discuss trade facilitation, internet commerce, and anti-corruption regulations. Since Ms....

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