DIRS.INFO The most relevant business & tech news

☆ Evergrande founder joins list of Chinese tycoons investigated, arrested
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +4 min

Following is a list of some other high-profile Chinese executives who have been investigated or arrested under Xi's leadership. BAO FAN, FOUNDER OF CHINA RENAISSANCEThe founder of China Renaissance Holdings (1911.HK) was detained in February and the investment bank said in August he was co-operating with authorities as investigations continued. Wu was arrested in June 2017 amid Beijing’s campaign to curtail big-spending conglomerates as it cracked down on financial risk. YE JIANMING, FOUNDER OF CEFC CHINA ENERGYIn 2017, Ye's CEFC agreed to buy a nearly $9.1 billion stake in Russian oil major Rosneft. A year later, he was investigated for suspected economic crimes and disappeared from public view in March 2018.

Persons: Hui Ka Yan, Xi Jinping, ZHAO WEIGUO, Tsinghua Unigroup, Zhao, Bao, Morgan Stanley, Didi, XIAO JIANHUA, Xiao, CHEN FENG, TAN XIANGDONG, GROUP, Tan, WU XIAOHUI, Wu, JIANMING, Ye's CEFC, magazine's, Kane Wu, Selena Li, Anne Marie Roantree, Miyoung Kim, Lincoln Organizations: HK, Evergrande, TSINGHUA UNIGROUP, Tsinghua University, Tsinghua, OF CHINA, China Renaissance Holdings, Credit Suisse Group, OF, China's Communist Party elite, Reuters, HNA, Hainan Airlines, Deutsche Bank, Hilton Worldwide, Prosecutors, Thomson Locations: China, Chinese, Guangdong, Shanghai, Hong Kong, Hainan, CHINA

☆ How an Army combat medic pivoted to filmmaking, thanks in part to a Sundance program that fostered directors like Ryan Coogler and Chloe Zhao
▼ + stars: | 2023-09-26 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

The Directors Lab, which goes back 40 years and claims graduates from Quentin Tarantino and Gina Prince-Bythewood to Ryan Coogler to Chloe Zhao, is a supercharged accelerator for new filmmakers. Rashad Frett, right, a member of the 2023 Directors Lab, speaks with Michelle Satter, founding director of the Sundance Institute's Feature Film Program. It's a 20-minute short that screened at the Sundance Film Festival in January; Fretts' time at the Directors Lab was devoted to developing it into a feature, filming multiple scenes. But it took a few tries before his application to join the Directors Lab was successful, he said. Rashad Frett works on his short film "Ricky" during this year's Directors Lab, conducted by the Sundance Institute.

Persons: Rashad Frett, Frett, Quentin Tarantino, Gina Prince, Bythewood, Ryan Coogler, Chloe Zhao, Michelle Satter, who's, Sciences Jean Hersholt, Angela Bassett, Mel Brooks, Carol Littleton, Satter, —, Jonathan Hickerson, he'd, Spike Lee, Ricky, Lin Que Ayoung, It's, Fretts, Sam Emenogu, Joan Darling, Joan Tewkesbury, it's, he's, Reed Alexander Organizations: Army, Sundance, Labs, Hollywood, of Motion Picture Arts, Sciences, New York University, NYU, Sundance Film, Lab, Sundance Institute Locations: New York, Sundance, Utah, New, Hollywood

☆ Asian Games: South Korea's Esports stars target medal success -- and a military exemption
▼ + stars: | 2023-09-26 | by ( Yoonjung Seo | ) edition.cnn.com time to read: +15 min

For South Korean male participants, winning a gold medal in the Asian Games or Olympic Games not only brings honor but also grants them a military exemption. However, the mandatory duty can be waived for some athletes, in particular those who win an Olympic medal or a gold medal in the Asian Games. Seven games will be featured as official medal events at the 19th Asian Games, building on the success of the pilot event at the 2018 Jakarta-Palembang Games. The venue for the Asian Games esports competitions is state-of-the-art and an impressive sight to see. With its inclusion as an official Asian Games medal event, the possibility of esports becoming a part of the Olympic Games is a topic of growing debate.

Persons: Suga, Oh, Wang Zhao, Son Heung, ” Shin, ”, esports, ” Kim Sa, “, ” Lee Kyung, Kwak, hyouk, it’d, ” Kwak, Thailand’s Teedech, Lee Sang, –, Michael Chow, Yoonjung Seo, Michael Jordan, ” Chow, Faker, JUNG YEON, Philip Fong, Rowan Crothers, “ I’m, I’ll, ” Crothers, Jess Bolden, Chow, Niko, Young Organizations: CNN, Gaming, Hangzhou Asian Games, Asian Games, Games, BTS, Asian, Getty, Premier League soccer, Tottenham Hotspur, Marine Corps, Republic of Korea Marine Corps, “ Times, CNN Sport, FIFA, Hangzhou, South Korea, Believer Company, Riot, South, Team Korea, League, “ League, SK Telecom, Riot Games, Microsoft Studios, Xbox, Studios, International Federation of, Phonographic Industry, EA Sports FC Online, PUBG, of Valor, of, Olympic, International Olympic Committee, Maekyung Media, Paralympic, IOC, Kodikara, International Federations, Niko Partners Locations: South Korea, Hangzhou, AFP, Seogwipo, Jeju, Republic of, Seoul, esports, Jakarta, South, . South Korea, Palembang, Asia

Those talks were suspended amid legal, diplomatic, and trade disputes between Seoul and Tokyo over issues dating to Japan's 1910-1945 occupation of Korea. A senior South Korean government official said China has been proactive in seeking trilateral cooperation and arranging meetings since relations soured between Seoul and Beijing in 2017 over the deployment of a U.S. THAAD anti-missile system in South Korea. Tuesday's meeting involve South Korean Deputy Foreign Minister Chung Byung-won, Japanese Senior Deputy Foreign Minister Takehiro Funakoshi, and Nong Rong, China's assistant minister of foreign affairs. Chinese foreign ministry spokesperson Wang Wenbin told a briefing on Monday that China, Japan and South Korea are close neighbours and important cooperative partners, and strengthening trilateral cooperation serves their common interests. The trilateral summits have traditionally involved China's prime minister, but South Korea is also pushing for a separate visit by President Xi Jinping.

Persons: Park Jin, Japan Takehiro Funakoshi, Foreign Affairs of China Nong Rong, Jung Byung, Yoon Suk Yeol, Fumio Kishida, Joe Biden, Tong Zhao, Zhao, Chung Byung, Takehiro Funakoshi, Nong Rong, Wang Wenbin, Xi Jinping, Josh Smith, Hyonhee, Liz Lee, Gerry Doyle Organizations: South Korean Foreign, Foreign Affairs, Japan, Foreign Affairs of, Political Affairs, South Korean, Carnegie Endowment, International Peace, Thomson Locations: Foreign Affairs of China Nong, SEOUL, South Korea, China, Japan, Washington, Seoul, Tokyo, Korea, Beijing, U.S, United States

☆ South Korea Hosts Japan, China as US Allies Try to Reassure Beijing
▼ + stars: | 2023-09-25 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

A senior South Korean government official said China has been proactive in seeking trilateral cooperation and arranging meetings since relations soured between Seoul and Beijing in 2017 over the deployment of a U.S. THAAD anti-missile system in South Korea. Japan and South Korea have an interest in avoiding conflicts and maintaining a stable security relationship with China, and Beijing's assistance in slowing down, if not halting, North Korea's extensive nuclear development program, he added. Tuesday's meeting involve South Korean Deputy Foreign Minister Chung Byung-won, Japanese Senior Deputy Foreign Minister Takehiro Funakoshi, and Nong Rong, China's assistant minister of foreign affairs. Chinese foreign ministry spokesperson Wang Wenbin told a briefing on Monday that China, Japan and South Korea are close neighbours and important cooperative partners, and strengthening trilateral cooperation serves their common interests. The trilateral summits have traditionally involved China's prime minister, but South Korea is also pushing for a separate visit by President Xi Jinping.

Persons: Josh Smith, Hyonhee Shin, Yoon Suk Yeol, Fumio Kishida, Joe Biden, Tong Zhao, Zhao, Chung Byung, Takehiro Funakoshi, Nong Rong, Wang Wenbin, Xi Jinping, Hyonhee, Liz Lee, Gerry Doyle Organizations: South Korean, Carnegie Endowment, International Peace Locations: Hyonhee Shin SEOUL, South Korea, China, Japan, Washington, Seoul, Tokyo, Korea, Beijing, U.S, United States

☆ Citadel Securities is locked in a legal battle with 2 ex-staff who left to start a crypto firm and say they're victims of 'corporate bullying'
▼ + stars: | 2023-09-24 | by ( Chris Johnston | ) www.businessinsider.com time to read: +6 min

The venture has faced legal challenges by Citadel Securities, whose European arm filed a case in London in June 2022. Portofino said in its initial response that Citadel's legal action was "unmeritorious, anticompetitive and a classic example of corporate bullying." AdvertisementAdvertisementIn January 2022 Griffin sold a $1.2 billion stake in Citadel Securities to venture capital firms Sequoia and Paradigm. "Further, their attempt to improperly poach Vincent Prieur, a New York-based employee described as the 'aggregator of all things crypto' at Citadel Securities, is undisputed. Prieur, who later joined Portofino, had also been the subject of legal action by Citadel Securities that was settled out of court, Bloomberg reported.

Persons: Alex Casimo, Leonard Lancia, Ken Griffin, Griffin, Peter Thiel, Slack, Zalando, Portofino, Casimo, it's, Peng Zhao, Matt Huang, Lancia, poach Vincent Prieur, Prieur Organizations: Citadel Securities, Portofino Technologies, Citadel, New, Service, Ventures, Global Founders Capital, Global Founders, Lancia, London Court, Portofino, Court, Southern, of, Sequoia, Paradigm, Financial Times, Bloomberg Locations: New York, Wall, Silicon, Miami, Swiss, London, Europe, of New York, Portofino

Hundreds of people lined up at a flagship Apple store in Beijing to pick up the new iPhone 15 when deliveries began on Friday. As of 10 a.m. Beijing time on Friday, iPhone 15 sales via JD 's Dada one-hour delivery app surged by 253% versus that of the iPhone 14 last year, Dada said. Zhao said he was planning to upgrade from his Huawei device to buy the iPhone 15 Pro Max, which has a list price of 9,999 yuan ($1,370). Strong iPhone 15 pre-salesApples' iPhone 15 pre-sales in China pointed to robust demand. Counterpoint Research's most optimistic outlook for Apple in China predicts a 4% year-on-year decline in Apple iPhone shipments in the fourth quarter.

Persons: Evelyn Cheng, JD, Dada, Zhao, he'd, China Zhao, Will Wong, Alibaba's Tmall, Pro Max, Tarun Pathak Organizations: Apple, CNBC, Huawei, Street Journal, Bloomberg, China's Ministry of Foreign Affairs, IDC Apple, Pro, IDC, Counterpoint Technology Market Research Locations: Beijing, Evelyn Cheng BEIJING, China, Sanlitun, Shanghai, Hangzhou, Americas

☆ Children Are the Casualties in New Yorkers’ Daily Struggle for Space
▼ + stars: | 2023-09-22 | by ( Ginia Bellafante | More About Ginia Bellafante | ) www.nytimes.com time to read: +2 min

Nicholas’s father, Otoniel Feliz, has said that he had no idea that a tenant was living there when he sent his son to the center. But Ms. Mendez, who wept during her most recent court appearance, has denied knowing that her licensed and recently inspected home business had become a stash house for a kilo of fentanyl and the accompanying paraphernalia. This was the second time in just a few weeks that a devastating loss proved to be the collateral damage of an informal leasing agreement. Last month, a 43-year-old woman named Zhao Zhao was killed in her apartment in Sunset Park in Brooklyn when a man went after her with a hammer, also injuring her two children, 3 and 5, who face a long recovery as they learn again how to walk. The apartment had three rooms; Ms. Zhao and her children occupied one, a single person lived in a second, and a 9-year-old boy took up the third with his father, who was charged in the killing.

Persons: Otoniel, Carlisto Acevedo Brito, Mendez, Mendez’s, Acevedo Brito’s, Zhao Zhao, Zhao Organizations: Prosecutors Locations: Bronx, Sunset Park, Brooklyn

☆ China's property price caps have two sharp edges
▼ + stars: | 2023-09-18 | by ( Chan Ka Sing | ) www.reuters.com time to read: +4 min

REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsHONG KONG, Sept 18 (Reuters Breakingviews) - Chinese developers are in trouble. When the mood was bullish, price caps in major cities were far below what people were willing to pay. Scrapping the price caps would be a cleaner fix and officials are weighing up such a move, Reuters reported this month. CONTEXT NEWSChina's Guangzhou city has cancelled price caps on new residential projects, Caixin reported on Sept. 12. Price caps of various kinds were introduced in many Chinese cities from 2016 following the central government’s call for a stable residential market.

Persons: Zhao Youming, Tingshu Wang, Caixin, Price, Una Galani, Thomas Shum Organizations: Gaotie Wellness, REUTERS, Reuters, HK, Bureau of Statistics, Thomson Locations: Tongchuan, Shaanxi, China, HONG KONG, Guangzhou

☆ How knockoffs took over America
▼ + stars: | 2023-09-14 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +10 min

But these fake products have major financial and societal impacts that can lead to lost sales, jobs, and livelihoods. US Customs and Border Protection officers inspect boxes of counterfeit products at the Los Angeles/Long Beach Seaport complex. Edward Berthelot/GettyWhy sales of counterfeit goods have soaredE-commerce has been a breeding ground for knockoffs. AdvertisementAdvertisementAccording to the US Sentencing Commission , the maximum sentence for selling counterfeit goods is 10 years in prison. In 2020, Amazon established its Counterfeit Crimes Unit, which works with brands to identify and remove counterfeit products.

Persons: Daniel Shapiro's, Hugo Boss, counterfeiters, Spencer Platt, Getty, Shapiro, Jason Armond, Gabrielle Chanel, Michael Kors, Gucci, Chanel, Zers, Edward Berthelot, Superfakes, They've, Wang Zhao, I'm, counterfeits, It's Organizations: Service, Red, Puma, Fila, eBay, US Department of Homeland Security, International Chamber of Commerce, Frontier Economics, Customs, Border Protection, Los, United States Intellectual, United Nations Office, Drugs, UN, Seaport, Economic Cooperation, Development, US Chamber of Commerce, US Customs, Protection, US, Commission, Nike, Amazon Locations: Wall, Silicon, Manhattan, Los Angeles, Long, Beijing, Europe, China

CNN —The Taliban has welcomed Zhao Sheng as China’s new ambassador to Afghanistan during a lavish ceremony held at the presidential palace in Kabul on Wednesday. China is among a handful of countries, including Pakistan, Iran and Russia that have maintained a diplomatic presence in Afghanistan since the Taliban retook control of the country in 2021. In the palace ceremony, Taliban Prime Minister Mohammad Hasan Akhund shook hands with Zhao and “accepted the credentials of the new Chinese Ambassador,” the prime minister’s office said on X, formerly known as Twitter. China’s Ministry of Foreign Affairs said in a statement the appointment was the “normal rotation of China’s ambassador to Afghanistan” and was “intended to continue advancing dialogue and cooperation” between the two countries, according to Reuters. The ministry said, “China’s policy toward Afghanistan is clear and consistent.”CNN has reached out to China’s Ministry of Foreign Affairs.

Persons: Zhao Sheng, Mohammad Hasan Akhund, Zhao, “, Mr Zhao Sheng, Zabiullah Mujahid, ”, Mujahid, Afghanistan ”, Qin Gang Organizations: CNN, Taliban, Honorable, China’s Ministry of Foreign Affairs, Reuters, Pakistan Economic Locations: Afghanistan, Kabul, Wednesday, China, Pakistan, Iran, Russia, China’s, Islamabad, Xinjiang

☆ Chinese titanium producers expect boost from new iPhone
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Stephanie Lecocq Acquire Licensing RightsBEIJING, Sept 13 (Reuters) - China's titanium producers said on Wednesday they expect stronger demand for the lightweight metal after the launch of a new model of Apple's iPhone with a titanium shell. China accounts for more than 60% of the 240,000 metric tons of titanium and titanium alloys produced globally each year, according to the CNIA. A consumer product "monster" such as the iPhone would help bring wider adoption of titanium in new industries, replacing materials like stainless steel, he added. The titanium shell on the new iPhone is made with an alloy known as Grade 5 Titanium that also contains small amounts of aluminium and vanadium, according to three Chinese titanium producers. "There's a technical barrier to produce titanium alloys and international enterprises such as Apple require high standards.

Persons: Stephanie Lecocq, Zhao Wei, Zhao, Foxconn, Ningwei Qin, Amy Lv, Siyi Liu, Dominique Patton, Sharon Singleton Organizations: Apple, REUTERS, Rights, China Nonferrous Metals Industry Association, Ningwei, Thomson Locations: Lille, France, Rights BEIJING, China

☆ Binance.US says CEO Shroder to depart, 100 jobs will be cut
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

A logo on the Binance exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. Shroder will be replaced by general counsel Norman Reed, who joined the company in December 2021, on an interim basis. Binance and Binance.US have maintained that they operate separately. Its global head of product, Mayur Kamat, resigned early this month and its chief strategy officer, Patrick Hillmann, left in July. Reporting by Rishabh Jaiswal, Chandni Shah and Juby Babu in Bengaluru; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Brian Shroder, Norman Reed, Binance.US, Changpeng Zhao, Binance, Kamat, Patrick Hillmann, Rishabh Jaiswal, Chandni Shah, Juby Babu, Edwina Gibbs Organizations: Viva Technology, Porte de, REUTERS, U.S, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Porte, Paris, France, Bengaluru

The figures suggest that China's latest steps to revive a crisis-hit property market, including lower mortgage rates and down payments, could unlock some pockets of housing demand in the most sought-after areas, but may struggle to halt the broader property market downturn. "These measures may generate a short-term rebound in property transactions, but are insufficient to stabilize the property market," Goldman Sachs analysts said in a note. But Yu Fei, a property sales agent at HomeLink, said the initial spike in interest he noticed in the first few days is already petering out. "Many homebuyers remain in a wait-and-see approach, some hoping for more radical policies to stimulate the property market," Yu said. Goldman analysts said if property sales kept sliding policymakers could release more liquidity into the market by cutting banks' reserve requirement ratios, lowering rates, easing home purchasing rules further.

Persons: Jason Lee, Goldman Sachs, Zhang Guoqiang, I'm, Zhang, Zhao Jie, Yu Fei, Yu, Goldman, Wan, Emelia Sithole Organizations: REUTERS, China Index, Haitong Securities, Longfor, HK, Thomson Locations: Beijing, China, BEIJING, HONG KONG, China's

☆ More Than 2,000 Dead in Morocco’s Largest Earthquake in Decades
▼ + stars: | 2023-09-10 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

The Trump Indictments: Analyzing His Legal and 2024 Campaign Strategy Former president Donald Trump is facing four separate indictments at both state and federal levels. WSJ breaks down each of the indictments and what they mean for his 2024 presidential campaign. Photo Illustration: Annie Zhao

Persons: Donald Trump, Annie Zhao Organizations: Trump

Chinese President Xi Jinping attends the plenary session of the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. More than 10 envoys from these countries stationed in China detailed to Reuters the increasing difficulty they face getting access to Chinese officials and other sources of information on the world's second-largest economy. When meetings are arranged, Chinese officials stick rigidly to scripted comments, the diplomats said, while some added they experienced hostile behaviour from nationalistic academics. However, envoys from two countries which enjoy close relations with China said they had experienced no such problems. "To Chinese officials, the benefits of such engagements have become less evident, while the political and security risks are growing."

Persons: Xi Jinping, GIANLUIGI, Ryan Neelam, Xi, Li Qiang, Vladimir Putin, COVID, Emmanuel Macron, Antony Blinken, Yun Sun, Sun, Tong Zhao, Martin Quin Pollard, Laurie Chen, John Geddie, Nick Macfie Organizations: Rights, Reuters, Lowy Institute, China Program, Stimson, Washington D.C, U.S, Carnegie Endowment, International, Thomson Locations: Sandton, Johannesburg, South Africa, Rights BEIJING, China, India, Beijing, Australian, Hong Kong, Russia, Ukraine, Taiwan, New Delhi, Moscow, Washington

☆ 'Bizarre' long-legged bird-like dinosaur has scientists enthralled
▼ + stars: | 2023-09-06 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

A life reconstruction of the bird-like dinosaur Fujianvenator prodigiosus, which lived 148 million to 150 million years ago in China, is seen in this illustration. Asked for a word to describe Fujianvenator, Wang replied, "I would say 'bizarre.' Fujianvenator is a member of a grouping called avialans that includes all birds and their closest non-avian dinosaur relatives, Wang said. "The forelimb is generally built like a bird's wing, but with three claws on the fingers, which are absent from modern birds. There is still a big gap between the oldest known bird and the second-oldest known birds," Zhou said.

Persons: Chuang Zhao, Handout, Fujianvenator, Min Wang, Wang, Zhonghe Zhou, Zhou, Will Dunham, Daniel Wallis Organizations: REUTERS Acquire, Vertebrate Paleontology, Chinese Academy of Sciences, Thomson Locations: China, Fujian Province, Germany, Fujianvenator, Washington

☆ Ukraine's Secret Boat Raids Are Exposing Cracks in Russia's Southern Front
▼ + stars: | 2023-09-05 | by ( ) www.wsj.com time to read: 1 min

The Trump Indictments: Analyzing His Legal and 2024 Campaign StrategyFormer president Donald Trump is facing four separate indictments at both state and federal levels. WSJ breaks down each of the indictments and what they mean for his 2024 presidential campaign. Photo Illustration: Annie Zhao

Persons: Donald Trump, Annie Zhao Organizations: Trump

☆ Binance global head of product Mayur Kamat resigns - The Block
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

Binance logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 4 (Reuters) - Binance's global head of product and design, Mayur Kamat, has resigned amid a string of executive exits and job cuts at the cryptocurrency exchange, The Block reported on Monday citing a source. Kamat's exit follows a recent executive exodus from Binance that includes Chief Strategy Officer Patrick Hillmann and General Counsel Hon Ng. Binance did not immediately respond to a Reuters request for comment on the report. The cryptocurrency exchange has lately been under heavy regulatory scrutiny in the United States, with regulators aggressively clamping down on what they deem are illegal activities.

Persons: Dado Ruvic, Mayur Kamat, Patrick Hillmann, Hon Ng, Binance, Changpeng Zhao, Akanksha, Eileen Soreng Organizations: REUTERS, Securities, Exchange Commission, SEC, Thomson Locations: United States, Bengaluru

☆ Watch: SpaceX Capsule Returns to Earth With Four Astronauts
▼ + stars: | 2023-09-04 | by ( ) www.wsj.com time to read: 1 min

The Trump Indictments: Analyzing His Legal and 2024 Campaign StrategyFormer president Donald Trump is facing four separate indictments at both state and federal levels. WSJ breaks down each of the indictments and what they mean for his 2024 presidential campaign. Photo Illustration: Annie Zhao

Persons: Donald Trump, Annie Zhao Organizations: Trump

☆ Authorities Investigate Death at Burning Man While Thousands Remain Stranded
▼ + stars: | 2023-09-03 | by ( ) www.wsj.com time to read: 1 min

The Trump Indictments: Analyzing His Legal and 2024 Campaign StrategyFormer president Donald Trump is facing four separate indictments at both state and federal levels. WSJ breaks down each of the indictments and what they mean for his 2024 presidential campaign. Photo Illustration: Annie Zhao

Persons: Donald Trump, Annie Zhao Organizations: Trump

☆ Altcoin trading volume is off its first-half highs. Here's what it will take to get it back
▼ + stars: | 2023-09-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Altcoin trading is limping along, despite initially getting a boost from a key July court ruling that gave Ripple a partial victory over the Securities and Exchange Commission. However, this is not a strong enough narrative to take over the broader theme of deterioration in crypto market structure, said Park added. "This has serious implications for altcoin trading, as the shift in focus to alternatives like FDUSD or TUSD has created a bottleneck for pairs trading that is often how altcoin liquidity is gauged and accessed," he added. "At its peak, there were over 300 BUSD trading pairs and the number is steadily decreasing as BUSD is ceasing its operations." Wolfe Research's Rob Ginsberg noted this week that weak price action and low trading volume largely define the trading of altcoins in the current market.

Persons: —, Jeff Park, Glassnode, altcoins, Binance Launchpad, Stablecoins, CryptoQuant, Changpeng Zhao, Wolfe, Rob Ginsberg, Seasonality, Crypto, Dessislava Aubert, Michael Bloom Organizations: Securities and Exchange Commission, Bitwise Asset Management, SEC, Polygon, CNBC, Binance, BTC Locations: Solana, New York, BUSD's, altcoins, China

☆ Sinopec sets up new entity to expand refinery investment abroad
▼ + stars: | 2023-08-31 | by ( Chen Aizhu | ) www.reuters.com time to read: +4 min

The company logo of China’s Sinopec Corp is displayed at a news conference in Hong Kong, China March 26, 2018. After a quiet launch in late June of Sinopec Overseas Investment Holding as its sole platform for investing, building and operating refineries abroad, Sinopec is building up the team and setting the budget for the new entity, two company officials told Reuters. One such investment could be in Sri Lanka, where Sinopec was shortlisted to bid for an export-oriented refinery in Hambantota potentially worth billions of dollars. Sinopec is also among companies reviewing Shell's Singapore refinery and petrochemical assets, Reuters reported recently, although its president this week denied such interest. Sinopec declined to comment on that matter.

Persons: Bobby Yip, Zhao Dong, Sinopec, Sushant Gupta, Wood Mackenzie, Gupta, Russia's, PetroChina, Exxon Mobil's, Glencore, CNPC, Chen Aizhu, Tony Munroe, Miral Organizations: REUTERS, Rights, Sinopec Overseas Investment Holding, Reuters, China Petrochemical Corp, Saudi Aramco, Wood, Gas Chemical, Russia's Sibur, Exxon, Sinopec, Thomson Locations: Hong Kong, China, Sri Lanka, Hambantota, Singapore, Yanbu, Saudi Arabia, East Siberia, France, Scotland, Japan, XOM.N, Altona, Australia, Brazil, Beijing, South Africa

☆ China's factory activity shrinks for a fifth straight month in August
▼ + stars: | 2023-08-31 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

People walk through a gate in the Forbidden City in Beijing, capital of China, March 27, 2023. China's factory activity in August shrank for a fifth straight month, while non-manufacturing activity hit a new low for the year — signs that the slowdown in the world's second-largest economy may not yet have bottomed out. The official manufacturing purchasing managers' index rose slightly to 49.7 in August from 49.3 in July, according to data from the National Bureau of Statistics released Thursday. This was better than the median forecast for 49.4 in a Reuters poll. A PMI reading above 50 indicates expansion in activity, while a reading below that level points to a contraction.

Persons: Zhao Qinghe Organizations: National Bureau of Statistics, PMI, NBS Locations: City, Beijing, China

☆ Binance sets up Polish entity for residents of Belgium after regulatory action
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Aug 29 (Reuters) - Binance, the world's largest cryptocurrency exchange, said it had set up a Polish entity to serve clients in Belgium, after Belgium's regulator ordered Binance to cease offering virtual currency services in the country. Binance said in a statement the new entity ensures that the company can comply "with its regulatory obligations and can continue to provide services to Belgian users". U.S regulators sued the crypto exchange and Zhao in June for allegedly operating a "web of deception". This month Mastercard (MA.N) said it had decided to end four crypto card partnerships with Binance in Argentina, Brazil, Colombia and Bahrain.

Persons: Dado Ruvic, Binance, Changpeng Zhao, Zhao, Sudip Kar, Edwina Gibbs Organizations: REUTERS, Rights, Mastercard, Binance, Thomson Locations: Belgium, Shanghai, Argentina, Brazil, Colombia, Bahrain

Search resuls for: "Zhao"

25 mentions found