- Lebron Wire
Lakers will be at ‘front of the line’ to trade for Donovan Mitchell if available
If Donovan Mitchell demands a trade and becomes available this summer, the Lakers will reportedly look to pounce.
- Reuters
UPDATE 1-China's central bank leaves key policy rate unchanged
China's central bank left a key policy rate unchanged when rolling over maturing medium-term lending facility (MLF) loans on Wednesday, in line with market expectations. The steady MLF rate shows the central bank's focus on keeping currency stability, analysts say, even as an unexpected credit contraction in April added to the case for more policy stimulus to prop up the world's second-largest economy. The MLF loan operation also comes days ahead of the finance ministry's scheduled sales of the first batch of 1 trillion yuan in ultra long-term special treasury bonds.
- Reuters
UPDATE 1-Grupo Aval profits fall 73% in first quarter on macroeconomic woes
Colombian financial conglomerate Grupo Aval posted on Tuesday a 73.2% slide in its first quarter net profit to reach 113.7 billion pesos ($29.6 million), as high interest rates and a weak economy hit the quality of its loan portfolio. In a bright spot, the company's interest income in the first three months of this year edged up 3.3% to total 7.2 trillion pesos, according to its quarterly report. Grupo Aval's holdings include Colombian banks Banco de Bogota, Banco Popular, Banco AV Villas , Banco de Occidente, Corporacion Financiera Colombiana and pension fund Porvenir.
