Tencent launches payments app for ‘China-maxxing’ foreign tourists
Rival to Alipay will help overseas visitors navigate country’s largely cashless economy
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Global debt tops $365 trillion as economists sound alarm over ‘vicious cycle’
More is being paid out by advanced economies in debt interest than the whole world spends on AI, defense or clean technology.
Switzerland keeps interest rates at 0% — but markets are betting it can’t avoid the global hiking cycle much longer
The Swiss National Bank held rates at 0% as low inflation and a strong franc enable it to diverge from other central banks, though markets expect hikes ahead.
Global bond sell-off spreads as oil holds above $100
Rising yields strain public finances as expectations of Fed rate rise in October jump to about 70%
France faces a fresh budget battle that threatens to topple another government as debt costs spiral
Time is not on the side of French government bonds, strategists have warned, as the nation’s deficit balloons.