Chinese growth accelerated in the second quarter but the country might need more stimulus, Premier Li Keqiang said today.
Speaking during a visit to Beijing by German Chancellor Angela Merkel, Li said: “We cannot lower our guard against downward pressures”. China’s GDP grew at an annual pace of 7.4% in the first quarter.
Lower barriers see birth of more banks
Changes to reduce barriers for new financial institutions have seen many more potential challenger banks emerge, regulators said today.
The Prudential Regulation Authority said it had authorised five new banks and seen applications from another 25 in the 12 months since the changes were introduced in March 2013.
US buyer swallows Capri-Sun maker
The maker of Capri-Sun, the soft drinks in pouches, has been swallowed up in a €2.2 billion (£1.7 billion) takeover deal.
Wild Flavors, controlled by Germany’s Wild family and backed by private-equity giant KKR, has agreed a deal with America’s Archer Daniels Midland, one of the world’s biggest food processing and commodity trading businesses.
