30 June

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In one year, Hong Kong arrests 117 people under new security law By Reuters

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By Pak Yiu and Anand Katakam HONG KONG (Reuters) - Hong Kong authorities have arrested 117 people under a national security law imposed one year ago, charging more than 60, mostly democratic politicians, activists, journalists and students. On June 30, 2020, Beijing imposed the security law in Hong Kong following months of often-violent pro-democracy protests, effectively ending the unrest. The law punishes acts which China considers as subversion, secession, terrorism and collusion with foreign forces with up to life in prison. It entered into force as soon as it was published, just before midnight ahead of...

30 June

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Chinese EV Maker Xpeng to raise $1.8 billion in Hong Kong listing -sources By Reuters

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By Scott Murdoch HONG KONG (Reuters) - Chinese electric vehicle maker Xpeng Inc will raise $1.8 billion by pricing its shares at HK$165 ($21.25) each as part of its Hong Kong dual primary listing, two people with direct knowledge of the matter said. The people declined to be identified as the information was not yet public. Xpeng declined to comment on pricing guidance given to investors. The company sold 85 million shares in the deal which equates to 5% of its shares, according to its prospectus. There is an over-allotment option to sell a further 12.75...

30 June

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Asian shares rise after consumer confidence boosts Nasdaq to record high By Reuters

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SHANGHAI (Reuters) - Asian shares rose and a gauge of global equities hovered near record highs on Wednesday after rising consumer confidence in economic recovery boosted the Nasdaq index to its highest-ever closing level. MSCI's global share index was set for a fifth straight month of gains on Wednesday. Its index tracking Asian shares outside Japan was set for a small monthly loss, but still on course for a fifth straight quarterly rise, its longest such streak since 2006-2007. The Asian index was last up 0.33% on the day. Chinese blue-chips added 0.1%, Australian shares were...

30 June

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China’s Didi raises $4.4 billion in upsized U.S. IPO -sources By Reuters

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By Echo Wang, Anirban Sen and Scott Murdoch (Reuters) - Chinese ride hailing company Didi Global Inc raised $4.4 billion in its U.S IPO on Tuesday, pricing it at the top of its indicated range and increasing the number of shares sold, according to two sources familiar with the matter. Didi sold 317 million American Depository Shares (ADS), versus the planned 288 million, at $14 apiece, the people said on condition of anonymity ahead of an official announcement. This would give Didi a valuation of about $73 billion on a fully diluted basis. On a non-diluted...

30 June

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Japan’s May factory output posts biggest monthly drop in a year By Reuters

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By Daniel Leussink TOKYO (Reuters) - Japan's industrial output posted the biggest monthly drop in a year in May, as a sharp fall in car production threatened to undermine the country's economic recovery just weeks before Tokyo is set to host the Olympic Games. The world's third-largest economy will likely grow at a much slower pace than initially thought in the current quarter in part due to weakness in consumer spending, a poll by economists showed this month. Factory output slumped 5.9% in May from the previous month, official data showed on Wednesday, hit by declines...

30 June

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U.S. Should Distance From Trump-Era Trade, Key EU Official Says By Bloomberg

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(Bloomberg) -- The Biden administration should take a different approach to trade than that of its predecessor to help improve the U.S. economy, a key European Commission trade official said. The new U.S. government should “distance themselves clearly from the previous administration, which tried to negotiate rules bilaterally and enforce them unilaterally at great cost to the U.S. economy,” Director General for Trade Sabine Weyand said in a virtual discussion Tuesday. “I think this recognition of economic reality would already be a good starting point.” “What we need to see is a clear sense of...

30 June

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S&P 500 Retreats From Record High as Chip, Bank Stocks Shine By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 gave up some gains after hitting a fresh record high Tuesday, amid a chip-led climb in technology and a jump in banking stocks. The S&P 500 rose 0.06% and had hit a record intraday level of 4,300.70. the Dow Jones Industrial Average gained 0.15%, or 23 points, and the Nasdaq Composite was up 0.16%. Technology stocks continued to dominate direction, with chip stocks leading them higher. The iShares PHLX Semiconductor ETF (NASDAQ:SOXX) hit a record high, powered by SWKS, AMD, and QRVO. The megacap stocks traded largely...

30 June

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Google to introduce measures to curb online financial scams in UK By Reuters

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(Reuters) - Alphabet (NASDAQ:GOOGL) Inc's Google on Wednesday announced measures to clamp down on financial fraud on its platform in Britain, saying it will require all financial services to be verified by the regulator before they are allowed to advertise. Google said in a blog post it will begin enforcing the new policy, which follows calls from the Financial Conduct Authority for the U.S. tech giant to vet paid promotions, from Sept. 6. The FCA did not immediately respond to a request for comment. The watchdog issued 1,200 consumer warnings last year about scams advertised via...

30 June

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U.S., European suppliers scramble to secure Christmas goods as cargo delays worsen By Reuters

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By Lisa Baertlein and Jonathan Saul LOS ANGELES/LONDON (Reuters) - Suppliers to Walmart (NYSE:WMT), Target (NYSE:TGT), Amazon.com (NASDAQ:AMZN) and other major retailers told Reuters they are placing holiday orders for Chinese-made merchandise weeks earlier this year, as a global shipping backlog threatens to leave many gift buyers empty-handed this Christmas shopping season.   Reuters surveyed nearly a dozen suppliers and retailers of everything from toys to computer equipment in the United States and Europe. All expect weeks-long delays in holiday inventory due to shipping bottlenecks, including a global container shortage and the...

30 June

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German privacy tsar tells ministries to shut Facebook pages By Reuters

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BERLIN (Reuters) - German government organisations have until the end of the year to close their Facebook (NASDAQ:FB) pages after the data protection commissioner found the social network had failed to change its practices to comply with German and European privacy laws. In a letter to government departments and agencies earlier this month, commissioner Ulrich Kelber said Facebook had provided no way to run pages for institutions, whose feed users can subscribe to by clicking "like", in an EU-compliant way. Kelber added that partyline app Clubhouse, video clip app TikTok and Facebook's Instagram site also appeared...

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News

In one year, Hong Kong arrests 117 people under new security law By Reuters

Chinese EV Maker Xpeng to raise $1.8 billion in Hong Kong listing -sources By Reuters

Asian shares rise after consumer confidence boosts Nasdaq to record high By Reuters

China’s Didi raises $4.4 billion in upsized U.S. IPO -sources By Reuters

Japan’s May factory output posts biggest monthly drop in a year By Reuters

U.S. Should Distance From Trump-Era Trade, Key EU Official Says By Bloomberg

S&P 500 Retreats From Record High as Chip, Bank Stocks Shine By Investing.com

Google to introduce measures to curb online financial scams in UK By Reuters

U.S., European suppliers scramble to secure Christmas goods as cargo delays worsen By Reuters

German privacy tsar tells ministries to shut Facebook pages By Reuters

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