New loans in China hit a record level in January, according to data released this week. Bad loans jumped over 50% from December 2014 to December 2015. It’s a big increase, especially in a country that isn’t always trusted for giving out the real statistics. Source: CNN Money
Honda is closing its factory in Turkey as the country’s new-car sales collapse.
Vehicle sales in Turkey dropped 35 percent last year to 612,607 as the value of the local currency fell, figures from JATO Dynamics show. Honda’s sales bucked the trend by rising 8.5 percent due to the popularity of the locally made Civic sedan, Turkey’s fourth best-selling car last year.
- Car sales fell 17.7 per cent last month from a year earlier, while total vehicle sales in January fell 15.8 per cent to 2.37 million units overall
- Seventh straight monthly decline in the world’s largest car market, and adds to wider concerns over domestic consumption and economic growth
Zimbabwe could run out of bread in a week after flour stocks dwindled due to the country’s failure to pay for imported wheat, according to a confidential letter written to bakers by the country’s grain millers’ group on Monday. Source: Reuters
