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The IMF warns on China’s debt. “Credit growth has outpaced GDP growth, leading to a large credit overhang,” the IMF wrote. “The credit-to-GDP ratio is now about 25% above the long-term trend, very high by international standards and consistent with a high probability of financial distress.”
Euro-area GDP holds. The euro-area economy grew at a 0.6% clip in the third quarter, according to a revised reading from Eurostat.
Bitcoin rockets past $15,000. The red-hot cryptocurrency cleared $15,000 a coin Thursday morning, just 36 hours after topping $12,000 for the first time.
Banks could take a big hit from new reforms. Global investment banks are going to see their revenues in Europe chopped by $4.4 billion from the MiFID II financial reforms that start to go live in January, and traders will bear the brunt of it, according to Coalition, an industry analytics and consulting firm.
Bob Iger could stay at Disney past 2019. Disney’s CEO could stay on past the end of his contract in July 2019 if his company buys 21st Century Fox’s TV assets, the Wall Street Journal says.
A Volkswagen executive has been sentenced to 7 …read more
Source:: Businessinsider – Finance