China may have ‘passed the point of no return’ as Covid infections soar

BEIJING — Surging Covid infections across mainland China make it harder for the government to achieve zero-Covid without reverting to a harsh lockdown, Macquarie’s Chief China Economist Larry Hu said.

In the last few days, the daily case count has climbed to around or more than 28,000 — near levels seen in April during a stringent lockdown…

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Live news: Credit Suisse forecasts $1.6bn loss on wealth management slowdown – Financial Times

Credit Suisse projects $1.6 billion fourth-quarter loss