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President Aline Hanson hurt in assault by well-known musician

President Aline Hanson

~ Security for government officials thrown into question ~

 MARIGOT--President of the Territorial Council Aline Hanson was assaulted by a man brandishing a frying pan moments after she arrived for work at Hotel de la Collectivité Friday morning.

The bizarre incident occurred at 8:30am when the President, who was not with her usual driver, got out of the car and was chatting with a couple of women when the man suddenly appeared and started to inflict blows on her with the pan as she turned to close her car door Read more

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China new home prices slip, sombre omen for 2014 GDP

BEIJING--China's new home prices fell significantly in December for a fourth straight month even as year-end sales volumes surged, a sombre omen for fourth-quarter 2014 economic growth data due out later in the week.
  Sunday's gloomy National Bureau of Statistics' data foreshadowed weak economic figures set for Tuesday, with expansion expected to slow to 7.2 percent, the weakest since the depths of the global financial crisis.
  Falling property prices are likely to keep pressure on policymakers to head off a sharper slowdown this year Read more

China tells banks to step up lending

BEIJING/SHANGHAI--China has told its banks to lend more in the final months of 2014 and relaxed enforcement of loan-to-deposit ratios to expand credit, sources told Reuters, as Beijing prepares to release data that could confirm the relentless slowing of its economy.
  Figures on inflation, imports and fiscal spending in November have already undershot expectations since the People's Bank of China (PBOC) sprang a surprise interest rate cut on Nov. 21, raising fears that the bid to boost lending could foreshadow more weak figures on industrial activity for the month, due on Friday, and on lending, due in the next few days.
  "I wouldn't be surprised by that at all," said Andrew Polk, resident economist for the Conference Board in Beijing Read more

China ready to cut rates again on fears of deflation

BEIJING--China's leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaults, business failures and job losses, said sources involved in policy-making.

Friday's surprise cut in rates, the first in more than two years, reflects a change of course by Beijing and the central bank, which had persisted with modest stimulus measures before finally deciding last week that a bold monetary policy step was required to stabilise the world's second-largest economy.

Economic growth has slowed to 7.3 percent in the third quarter and policymakers feared it was on the verge of dipping below 7 percent - a rate not seen since the global financial crisis Read more