According to the report, any business wanting to purchase $50 million or more, must now first obtain approval from the People’s Bank of China (PBOC). This decision comes after the institution had a meeting with some of the commercial banks over the weekend. During this year, the Chinese yuan decreased by approximately 6% against the…
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As a result, Japanese 10-year bond yields saw the highest increase since 2014, while the USD/JPY currency pairing plunged to a new low. Investors will be waiting to gain more information from U.S. inflation data, which is due to be released from the Federal Reserve Bank later this week. Don’t miss out the latest news,…
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The trades automatically replicate from the Strategy Provider to the Follower account without any need for the Follower to take any action. Strategy Providers on their end trade on their own account and earn Performance Fees on the profits they generate for each Follower. The percentage of the Performance Fee and the frequency of the…
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The move adds to Apple’s challenges as it directly impacts its biggest non-U.S. market. The Chinese market makes up a sizeable chunk – about 19% – of Apple’s total revenue. Although drastic, it seems, according to an anonymous CNN source, that China has been implementing this policy non-officially since the Covid-19 pandemic and is now…
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Miners and technology stocks drew the shortest end of the stick, while utilities and healthcare subindexes regained some ground. Tech stocks did not escape the trend and took some amount of strain. Experts attributed this to China’s intention to broaden its ban on the use of iPhones, as government sectors and affiliates distance themselves from…
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Heroux-Devtek, the world’s third-largest standing gear company, is set to begin supplying IperionX, a sustainable titanium production company, with Ti-6AI-4V grade alloy scrap metal, which IperionX plan to transform into low-carbon titanium suitable for future technologies. The alloy is already a byproduct of Heroux-Devtek’s gear manufacturing process, so to create a sustainable chain, this is…
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The regulator received a volley of attacks because it did not act soon or effectively enough to stem the tide of wrongdoings at the world-renowned Swiss bank. This includes connections with Lex Greensill, which led to an approximate $1.8bn loss. Many believe FINMA’s communication with big financial institutions was lacking and that it was negligent…
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As smaller businesses complained about being trampled in virtual space by the big names in tech, the DMA aims to level the playing ground to an extent. For instance, the Google and Apple operating systems are the top drivers in the mobile industry and charge a 30% fee for in-app purchases, which companies such as…
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The Bank of England (BoE) governor, Andrew Bailey, is due to appear in front of the Treasury Committee to address claims by a think-tank that his economic outlook for 2023 is failing. The Resolution Foundation, an independent British think-tank that aims to bolster low-middle-class income households in the UK, suggested that continued tax hikes for…
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A recent targeted review, which examined the DDO practices of sample financial issuers, found most retail clients lost money when trading CFDs. The ASIC deputy chair, Karen Chester, said: ASIC is disappointed that some high-risk retail product issuers have changed little in response to their design and distribution obligations (DDO). DDO requires companies to design…
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