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June 10, 2021

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China passes law to counter foreign sanctions

Reuters
The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS/Thomas Peter/File Photo China passed a law on Thursday to counter foreign sanctions, as it strives to resist U.S. and EU pressure over trade, technology, Hong Kong and Xinjiang. Individuals or entities involved in making or implementing discriminatory......

French and Swiss central banks to trial wholesale digital currencies

Reuters
The Swiss National Bank and the Bank of France will trial Europe’s first cross-border central bank digital currency payments, the banks said on Thursday, a move that will be a first for two of the world’s top currencies. The experiment will focus on the bank-to-bank ‘wholesale’ lending market rather than......

China, U.S. commerce chiefs to cooperate on handling differences, Beijing says

Reuters
Top U.S. and Chinese commerce officials spoke by telephone and agreed to promote healthy trade and cooperate over differences, China’s commmerce ministry said on Thursday, the latest high-level exchange as the countries spar over disagreements. Both sides recognise the importance of business exchanges and will keep lines of communication open,......

Asian shares hold range as investors eye U.S. CPI

Reuters
A man walks past a stock quotation board at a brokerage in Tokyo, Japan February 26, 2021. REUTERS/Kim Kyung-Hoon/File Photo Asian shares edged higher but held their recent trading range on Thursday as investors focussed on U.S. inflation data and the risk of an upside surprise that could prompt the......

U.S. withdrawing Trump executive orders that sought to ban TikTok, WeChat

Reuters
A picture of U.S. President Donald Trump is seen on a smartphone in front of displayed Tik Tok and WeChat logos in this illustration taken September 18, 2020. REUTERS/Dado Ruvic/Illustration President Joe Biden is withdrawing a series of executive orders that sought to ban new downloads of WeChat and TikTok......

Australian PM calls for WTO reform as tensions with China mount

Reuters
Australian Prime Minister Scott Morrison arrives at Haneda airport in Tokyo, Japan, November 17, 2020 in this file photo. REUTERS/Issei Kato/File Photo/File Photo The World Trade Organization must have a binding dispute settlement system to address the growing use of “economic coercion”, Australia’s Prime Minister Scott Morrison said on Wednesday,......

Battery maker Northvolt raises $2.75 bln to expand factory

Reuters
Northvolt logo is pictured in the Northvolt office in Stockholm, Sweden June 14, 2018. REUTERS/Esha Vaish/File Photo Swedish lithium-ion battery maker Northvolt has raised $2.75 billion in equity to expand capacity at the factory it is developing in northern Sweden to 60 gigawatt hours (GWh) from 40GWh to meet increasing......

China considers price controls on surging coal market – Bloomberg

Reuters
A coal-burning power plant can be seen behind a factory in the city of Baotou, in China’s Inner Mongolia Autonomous Region, October 31, 2010. REUTERS/David Gray China is considering imposing a cap on the price of thermal coal as it struggles to contain high energy costs ahead of peak demand......

Las Vegas Sands faces $12 billion claim in Macau court

Reuters
U.S. casino giant Las Vegas Sands (LVS.N) is facing a $12 billion lawsuit from a former partner in a Macau court, in a case set to shine a light over how coveted casino licenses were awarded in the world’s biggest gambling hub two decades ago. Former partner Asian American Entertainment......

EXCLUSIVE Apple, Chinese manufacturers in talks on U.S. car battery factory -sources

Reuters
Apple Inc (AAPL.O) is in early-stage talks with China’s CATL (300750.SZ) and BYD (002594.SZ), about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said. The discussions are subject to change and it is not clear if agreements with either CATL or BYD......

U.S. Senate passes sweeping bill to address China tech threat

Reuters
The U.S. Senate voted 68-32 on Tuesday to approve a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology. The desire for a hard line in dealings with China is one of the few bipartisan sentiments in the deeply divided U.S. Congress, which is......

Chinese grocery app Dingdong Maicai files for U.S. IPO

Reuters
Chinese grocery app Dingdong Maicai, backed by investors including Sequoia Capital and Tiger Global Management, filed for a U.S. initial public offering on Tuesday, as it seeks more funds to compete in a crowded sector. The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies......

Dollar shuffles higher, shares bask near peaks

Reuters
Markets were in their comfort zone on Tuesday, with world stocks hovering just off record highs, the dollar lifted by upcoming inflation data and the main volatility gauges all looking reassuringly calm. There was some pressure on sterling as the British government considered whether to delay removing most of its......

Hong Kong to test linking China’s digital yuan with domestic payments

Reuters
A sign indicating digital yuan, also referred to as e-CNY, is pictured at a shopping mall in Shanghai, China May 5, 2021. REUTERS/Aly Song Hong Kong is to test connecting China’s digital yuan with its domestic payments network, officials said on Tuesday, the second stage of trials of China’s digital......

Asia shares pare gains on caution, oil falls again

Reuters
Asia stocks reversed early gains on Tuesday, with traders sidelined ahead of U.S. inflation data and a European monetary policy meeting this week while oil prices lost more ground on worries over the fragile state of the global recovery. E-mini futures for the S&P 500 index were up 0.07%, while......

China’s Guangdong steps up COVID-19 testing as infections mount

Reuters
A medical worker collects a swab from a resident during a mass testing for the coronavirus disease (COVID-19) at a makeshift testing site at a stadium in Guangzhou, Guangdong province, China May 30, 2021. cnsphoto via REUTERS China’s southern Guangdong province, spooked by a rise in novel coronavirus infections since......

“America is back”: Brussels upbeat on eve of Biden’s Europe trip

Reuters
U.S. President Joe Biden delivers remarks on the May jobs report after U.S. employers boosted hiring amid the easing coronavirus disease (COVID-19) pandemic, at the Rehoboth Beach Convention Center in Rehoboth Beach, Delaware, U.S., June 4, 2021. REUTERS/Kevin Lamarque U.S. President Joe Biden’s trip to Europe this week will signal......

China’s Shenzhen dangles financial incentives to spur satellite sector

Reuters
The central business area that lit up during a light show is seen ahead of the 40th anniversary of China’s reform and opening up in Shenzhen, Guangdong province, China December 4, 2018. REUTERS/Thomas Suen China’s southern tech city of Shenzhen said on Monday it would offer up to 300 million......

Mongolia votes for new president amid COVID-19 campaign curbs

Reuters
People observing social distancing amid the coronavirus disease (COVID-19) pandemic attend a campaign rally of Sodnomzundui Erdene, presidential candidate of the Democratic Party, ahead of the presidential election, in Ulaanbaatar, Mongolia June 3, 2021. REUTERS/B. Rentsendorj Mongolia goes to the polls on Wednesday to choose its sixth democratically-elected president, with......

Biden’s to-do list on foreign trip: Rally allies against COVID, Putin

Reuters
President Joe Biden’s meeting with leaders of the G7 leading industrial economies in an English seaside village this week will usher in a new focus on rallying U.S. allies against common adversaries – the COVID-19 pandemic, Russia and China. New COVID-19 variants and rising death tolls in some countries will......

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