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The markets in Europe and Asia fell following the US announcement of tariffs
Following the US’ tariffs on imported goods, the Nikkei 225 in Japan fell 1.6%, South Korea’s Kospi lost 1.9% and Australia’s S&P/ASX 200 shed 1.9%. Meanwhile, Hong Kong’s Hang Seng fell by 1.9%, Shanghai’s Composite index declined by 1.4% and Singapore’s Straits Times fell by 1%. The Dow Jones Industrial Average fell by 1.4% and…
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USPS will accept parcels from China
The US Postal Service has stopped accepting packages from Hong Kong and China after the country imposed retaliatory tariffs on US imports including coal and liquified natural gas in response to US President Donald Trump’s executive order of increasing tariffs on China. The move comes after China imposed retaliatory tariffs on US imports, including coal…
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USPS suspends parcels from Hong Kong
The US Postal Service (USPS) on Tuesday said it would stop accepting parcels from China and Hong Kong. This comes after the US imposed an additional 10% tariff on Chinese goods and ended the de minimis exception that allowed small value parcels to enter the US without paying tax. The number of parcels entering the…
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The collapse of China’s Evergrande property developer is covered here
China’s Evergrande Group, the country’s second-biggest property developer by market value, has been ordered to liquidate by a Hong Kong court. The judge said it was appropriate for her to order Evergrande to wind up its business given a “lack of progress on the part of the company putting forward a viable restructuring proposal” as…
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The collapse of China’s Evergrande property developer is covered here
China’s Evergrande Group, the country’s second-biggest property developer by market value, has been ordered to liquidate by a Hong Kong court. The judge said it was appropriate for her to order Evergrande to wind up its business given a “lack of progress on the part of the company putting forward a viable restructuring proposal” as…
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Hong Kong criminalizes cannabinoids as a drug along with heroin.
Hong Kong’s first CBD cafe, Found, had also made headlines when it opened in 2020. “At some bars, regulars ‘come in every weekend for a glass of CBD lemonade’,” Found’s co-owner said. A bakery owner who sells baked goods that are infused with CBD said that rumours of the ban affected her business. She added…
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Larry David had predicted the implosion of FTX.
FTX’s former CEO Sam Bankman-Fried, who left the firm in November, told a Hong Kong judge that the firm’s trading affiliate Alameda Research was “being charged interest” on over $8 billion in claims. He added that he wanted to shift Alameda’s liability to an account that would not charge interest. FTX moved its headquarters from…
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This year, what will drive the markets?
Former CEO of crypto exchange FTX Sam Bankman-Fried has been charged with conspiracy and fraud by the US Securities and Exchange Commission (SEC). Sam Bankman-Fried is alleged to have misled customers about the health of FTX, a coin exchange that collapsed in November. He had moved FTX’s headquarters away from Hong Kong to the Bahamas…
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Apple is facing new criticism because of its alleged support for China’s censorship.
Apple’s new iOS update allows users of iPhones in China to send or receive files from non-contacts for only up to 10 minutes after selecting a new ‘Everyone for 10 minutes’ option, CNN reported. AirDrop, which is effective only over short distances, was particularly popular among Hong Kong demonstrators who used it to drop posters…
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The pro-China propaganda campaign is trying to influence US elections.
Researchers at the Atlantic Council’s Digital Forensic research lab have claimed the Chinese government uses automated accounts to drown out protest material and it is done in Hong Kong and other places. The researchers said that the Chinese government would more likely try to flood mentions of locations where the protests happened, instead of focusing…
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The $569 million in coins was Minted by the hack of the Binance company.
The Bahamas police has said that a team of financial investigators is working with the SEC to investigate if there was criminal activity after the FTX collapse. Former CEO Sam Bankman-Fried had filed for bankruptcy last month, leaving over a million depositors unable to access their funds. FTX moved its headquarters from Hong Kong last…