Australia's ANZ to invest another $300 mn in China

That China openly manipulates its economic data, especially around key political phase shifts, such as one communist regime taking over for another, is no secret.

Australia and New Zealand Banking Group Limited (ANZ) has announced the appointment of Nigel Williams as chief risk officer. Williams also assumes a seat upon the ANZ Management Board, and will report directly to Chief Executive Officer Mike Smith. He brings extensive experience to his new position, and during his career has worked in the [...]

The Ponzi schemes and off-balance sheet loans in China's banking system are in the forefront of today's news. Reuters reports Bank of China executive warns of shadow banking risks A senior Chinese banking executive has warned against the proliferation of off-book wealth management products, comparing some to a Ponzi scheme in a rare official acknowledgement of the risks they pose to the Chinese banking system.

"No Risk of Housing Bust" In case you need some humor today, please consider No risk of housing bust: RBA Australia is not at danger of a collapse in the housing market, a top central banker says, again playing down concerns that Australia could suffer price falls like those seen in the United States or parts of Europe.