China Financial News
08.08 / 01:53
07.08 / 19:47
Ethereum
ETH
BTC
Ether
meme coins
Bitcoin
DEXTools
crypto gainers
Biggest Crypto Gainers Today
Biggest Crypto Gainers
Biggest Crypto Gainers Today on DEXTools – 科太币, Toshi, Kitty, Evil Pepe
Major blue-chip crypto prices are under modest pressure on Monday, with Bitcoin (BTC) recently dipping below $29,000 once again and eyeing a retest of monthly lows, and Ether (ETH) testing the $1,800 and eyeing a retest of its 200DMA.
07.08 / 19:13
regulation
security
crimes
Bitcoin Regulation
Hong Kong securities regulator warns of ‘criminal’ activity by unlicensed exchanges
The Securities and Futures Commission (SFC) of Hong Kong issued a notice about unlicensed virtual asset trading platforms “engaging in improper practices,” warning of potential criminal charges.
07.08 / 18:47
UPS
IPO
Provident
Assurant
NIFTY
Ant
Ant transfers 10.3% in Paytm to Sharma
MUMBAII, NEW DELHI : Ant Group transferred about 44% of its stake in One 97 Communications Ltd, which runs Paytm, to founder and chief executive Vijay Shekhar Sharma, a move seen as an effort to reduce the Chinese company’s ownership in the Indian fintech giant. Paytm said Resilient Asset Management BV, an overseas entity owned by Sharma, will acquire the ownership and voting rights of 10.3% of the stake in the company held by Antfin (Netherlands), a unit of Ant Group, formerly known as Ant Financial. Upon successfully completing this transaction, Sharma’s Paytm holding will increase to 19.42%, making him the company’s largest shareholder.
07.08 / 18:47
Provident
FIVE
Manufacturing
Gap
Strategy
electronic
Record $70 bn revenue for auto parts makers
electric vehicle parts, barring EV batteries, to overall auto components supplies to 2.7%, compared to 1% in FY22. India’s EV component sales are dominated by electric two- and three-wheelers, with electric passenger vehicles (four-wheelers) representing just 1.0-1.5% of total EV sales. The auto components segment has been growing at a compound annual growth rate (CAGR) of 4.1% over the last five years.
07.08 / 18:47
Provident
Reuters
UBS
Credit Suisse to cut 80% of Hong Kong investment bank jobs: Report
Credit Suisse in Hong Kong is likely to be laid off this week, as part of the bank's integration with UBS Group, Reuters reported on Monday. Only 20 bankers out of the 100-strong investment banking team will be spared from the cuts, the Reuters report said, citing sources familiar with the matter. Hong Kong houses the largest share of Credit Suisse's investment bankers in Asia.
07.08 / 18:41
MET
Maxim
Inside
China objects to 'Vasudhaiva Kutumbkam' mention in G20 papers
G20 Energy Ministers' Outcome document and Chair's Summary on Energy Transitions' issued last month besides in several other similar G20 documents. ET gathers that China argued that the G20 documents could not use the term 'Vasudhaiva Kutumbakam' in the official text as it is in Sanskrit, which is not one of the six official languages recognised by the United Nations. It is learnt that most participant nations weighed in favour of India on the matter with some even observing that the theme was the prerogative of the Presidency and host nation.
07.08 / 18:13
Platform
show
Show of resolve
One 97 Communications Ltd, parent of Paytm, said founder and chief executive officer Vijay Shekhar Sharma had bought Antfin’s 10.3% stake in the fintech platform, public investors were elated. One Communications’ shares ended about 7% higher on Monday.
07.08 / 18:07
Provident
Software
Meet Neville Roy Singham, accused of spreading Chinese propaganda in India and abroad
Times of India. Singham's firm deals in IT consulting, providing custom software tools and consulting services. Recently he has been accused of funding various groups which promote Chinese state media positions, while at the same time denying Uyghur genocide and also lobbying for Russian imperialism, adds the report.
07.08 / 16:47
UPS
DAX
stage
end
record high
European stocks end slightly higher as defence firms hit record high
By Shashwat Chauhan, Amruta Khandekar and Shristi Achar A
07.08 / 16:17
Booking
Waters
HSBC
UBS
star
The UBS-Credit Suisse union has unsettled private banking
Credit Suisse Group’s crown jewel is its wealth management business in Asia, judging by the tremendous personnel effort its acquirer is making. UBS Group plans to retain most of Credit Suisse’s relationship managers in the region, while cutting more than half of its smaller rival’s 45,000-strong workforce worldwide. Bonuses are being dangled for private bankers with growing client books.
07.08 / 15:17
Huobi
Crypto Exchange
Drop
Rumors of Insolvency and Chinese Probes Cause Huobi Crypto Exchange TVL to Drop to $2.5 Billion
Popular cryptocurrency exchange Huobi has experienced significant outflows of funds and a decline in its total value locked (TVL) amidst rumors of insolvency and Chinese investigations.
07.08 / 14:01
UPS
Disney
Action
Southern
voice
social
lawmakers
DeSantis' retaliation against Disney hurts Florida, former governors and lawmakers say
A group of mostly Republican former high-level government officials is calling Gov_ Ron DeSantis' takeover of Disney World’s governing district “severely damaging to the political, social, and economic fabric of the State.”
07.08 / 13:57
Cooper
Man
Russia to launch lunar mission Friday, first in nearly 50 years
Russia said Monday it plans to launch a lunar lander this week after multiple delays, hoping to return to the Moon for the first time in nearly fifty years. The launch, which is scheduled for the early hours of Friday, comes as Russia's Ukraine offensive stretches into a second year, sparking huge tensions with the West. With the Luna-25 lander, Russia's first since 1976, Moscow is keen to restart and build upon a pioneering Soviet-era lunar program.
07.08 / 13:41
BLOCK
Waters
China says sea clash with Philippines vessels 'professional and restrained'
China said on Monday that a maritime clash in which it fired water cannon at Philippine vessels in the disputed South China Sea was «professional and restrained». A foreign ministry spokesperson said a Chinese coast guard ship «lawfully stopped» two Philippine vessels, adding: «This professional and restrained on-site operation is beyond reproach.» The incident happened on Saturday as the Philippine Coast Guard escorted charter boats carrying food, water, fuel and other supplies to Filipino military personnel stationed at Second Thomas Shoal in the Spratly Islands.
07.08 / 13:35
Provident
Target
Assurant
country
inflation data
Oil retreats from 4-month highs ahead of key inflation data
Investing.com — Crude oil prices retreated Monday, handing back some of the recent strong gains in the wake of the decision of top producers Saudi Arabia and Russia to extend their output cuts.
07.08 / 13:35
Lowe's
FIVE
Reuters
Manufacturing
show
Support
Yuan loses core support as firms leave China
By Samuel Shen and Tom Westbrook
07.08 / 12:59
UPS
Reuters
Manufacturing
show
week
inflation data
Commodities Week Ahead: 6-Week Oil Rally Casts Shadow Over Upcoming Inflation Data
The United States and China both have key inflation data this week, with oil bulls looking for a relatively positive outcome on both sides to extend a six-week rally already looking heavy for crude.
07.08 / 12:59
07.08 / 11:15
UPS
Citi
Manufacturing
TikTok
Nike
country
electronic
Threat
The Era of Ultracheap Stuff Is Under Threat
TikTok and other social media, are deciding their work lives shouldn’t unfold inside factory walls. Demographic shifts are playing a role. Young people in Asia are having fewer children than their parents did, and at later ages, which means they are under less pressure to earn a steady income in their 20s.
what's happening in China
What is the current situation in China?
In China, the spotlight is on local government initiatives that spark public discussion.
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