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☆ Singapore's monetary authority defends its treatment of Binance after FTX 'debacle'
▼ + stars: | 2022-11-22 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

“While both Binance and FTX are not licensed here, there is a clear difference between the two: Binance was actively soliciting users in Singapore while FTX was not,” the MAS said. “With regard to FTX, there was no evidence that it was soliciting Singapore users specifically.”Regulators are expected to step up their oversight of the industry as a result of its worst-ever turmoil. Unlike other industry players, Binance has emerged relatively unscathed during what some are calling a “crypto winter,” which refers to the sector’s ongoing global liquidity crisis. FTX, by comparison, recently filed for bankruptcy after failing to secure a lifeline from Binance over its own money troubles. In recent weeks, investor Sequoia Capital and Singapore’s state-owned investment firm, Temasek, have each written down the value of their respective FTX stakes down to $0.

Companies Ledgerx LLC FollowNov 21 (Reuters) - The Golden State Warriors were sued on Monday by an FTX customer who accused the reigning National Basketball Association champions of fraudulently promoting the now-bankrupt cryptocurrency exchange. The Warriors last December had named FTX its official cryptocurrency platform, in what it called a first-of-its-kind cryptocurrency partnership in professional sports. The lawsuit seeks damages under California consumer laws for customers outside the United States with FTX yield-bearing accounts. Another NBA team, the Miami Heat, on Nov. 11 said it would drop the FTX name from its arena and seek a new naming sponsor. The Heat is not a defendant in the Miami lawsuit.

☆ Asia-Pacific markets set to inch higher ahead of China's lending rate decision
▼ + stars: | 2022-11-21 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

A man looks at his smartphone as he walks past the People's Bank of China building on May 20, 2022 in Beijing. Shares in the Asia-Pacific were set to rise on Monday as analysts expect China's central bank to keep its benchmark lending rates, or loan prime rates, on hold, according to a Reuters poll. The Nikkei futures contract in Chicago was at 27,930 while its counterpart in Osaka was at 27,970. That compared against the Nikkei 225's last close at 27,899.77. Over the weekend, Malaysia's election produced a hung parliament, and parties are trying to win support from other blocs to form the government.

☆ Mental health not helped by tough tour demands, says Federer
▼ + stars: | 2022-11-19 | by ( ) www.reuters.com time to read: +2 min

Nov 19 (Reuters) - The demanding schedule on the ATP and WTA circuits can have a negative impact on the mental health of players, tennis great Roger Federer said on Saturday. But we're not machines, we’re human beings," Federer said at a press conference in Tokyo. “When players retire at a super young age, I totally understand it. Nobody is allowed to say, 'I'm tired today,' because it looks like you're weak, and that's why players sometimes end up with mental problems." Federer added that the strict doping regime also puts pressure on players, who have to inform relevant authorities about their whereabouts on a daily basis.

☆ JPMorgan says these global travel stocks are poised to pop as China eases Covid restrictions
▼ + stars: | 2022-11-18 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +3 min

It added that the uncertain economic outlook hasn't yet eaten into leisure travel spending — with the International Air Transport Association continuing to see strong forward international air travel bookings. The bank's key picks to play the sector are Beijing Capital International Airport and Shanghai Airport. Other airline stocks that are among JPMorgan's picks include Air China and Qantas Airways . Other stocks that could take flight Apart from airport and airline stocks, China's reopening would also benefit hotels, restaurants and leisure sectors , according to a Goldman Sachs note from Nov. 6. These stocks include casino operators Galaxy Entertainment and Sands China , food chain Yum China , as well as Trip.com .

☆ Asia-Pacific markets to trade mixed with a slew of economic data ahead
▼ + stars: | 2022-11-17 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

Shares in the Asia-Pacific are set to trade mixed as a number of economic data is slated to be released in the region. Japan will release trade balance data for October, which analysts are expecting to see a $11 billion trade deficit, according to a Reuters poll. Australia's S&P/ASX 200 gained 0.12% in its first hour of trade, as the country awaits its latest unemployment data later in the day. The Nikkei futures contract in Chicago was at 27,930 while its counterpart in Osaka was at 27,920, slightly lower than the Nikkei 225 's last close at 28,028.30.

☆ Singapore's Temasek writes down $275 million in FTX, calls belief in Sam Bankman-Fried 'misplaced'
▼ + stars: | 2022-11-17 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN Business —Singapore has become the latest backer of crypto exchange FTX to admit being burned by its spectacular collapse. FTX Group abruptly filed for bankruptcy in the United States last Friday when its founder, Sam Bankman-Fried, resigned as CEO. This “write down of our investment in FTX will not have significant impact on our overall performance,” Temasek said in the statement. Last week, investor Sequoia Capital said it had marked the value of its FTX stake down to $0. Last week, crypto lending platform BlockFi said it was pausing customer withdrawals.

Nov 16 (Reuters) - Crypto lender Genesis Global Capital suspended customer redemptions on Wednesday, citing the sudden failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action. After a flurry of tweets and interviews by Bankman-Fried, FTX said he "has no ongoing role" at the company and does not speak on its behalf. LEGAL ACTIONMeanwhile, U.S. court filings showed Bankman-Fried is facing legal action in the United States from investors alleging the company's yield-bearing crypto accounts violated Florida law. U.S. and Bahamian authorities were discussing the possibility of bringing Bankman-Fried to the United States for questioning, Bloomberg reported on Tuesday. Elsewhere, crypto exchange Binance said it had not contributed to FTX's collapse, in a response to a hearing on the crypto industry by a British parliamentary committee.

Nov 16 (Reuters) - Crypto lender Genesis Global Capital suspended redemptions on Wednesday citing the failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action, as its sudden collapse ripples across the industry. LEGAL ACTIONMeanwhile, U.S. court filings showed Bankman-Fried is facing legal action in the United States from investors alleging the company's yield-bearing crypto accounts violated Florida law. Bloomberg on Tuesday also reported that U.S. and Bahamian authorities were discussing the possibility of bringing Bankman-Fried to the United States for questioning. Elsewhere, crypto exchange Binance, in a response to a hearing on the crypto industry by a British parliamentary committee on Monday, said it had not contributed to FTX's collapse. The U.S. House Financial Services Committee said Wednesday it plans to hold a hearing in December to investigate the collapse of cryptocurrency exchange FTX.

Nov 16 (Reuters) - U.S. crypto investors sued FTX founder Sam Bankman-Fried and several celebrities who promoted his exchange including NFL quarterback Tom Brady and comedian Larry David, claiming they engaged in deceptive practices to sell FTX yield-bearing digital currency accounts. The proposed class action filed on Tuesday night in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the United States. When the crypto exchange faltered on liquidity concerns, U.S. investors sustained $11 billion in damages, the lawsuit says. The lawsuit seeks damages from Bankman-Fried and 11 athletes and other celebrities who promoted FTX, including David, the creator of "Seinfeld" and "Curb Your Enthusiasm." Sean Masson, an attorney at Scott+Scott who represents crypto investors in the EMAX case, said investors have used the Florida unfair trade law to target crypto promoters in lawsuits that are pending.

Nov 16 (Reuters) - U.S. crypto investors sued FTX founder Sam Bankman-Fried and several celebrities who promoted his exchange including comedian Larry David, alleging they engaged in deceptive practices to sell FTX yield-bearing digital currency accounts. The proposed class action filed late Tuesday night in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the U.S. When the crypto exchange faltered on liquidity concerns, U.S. investors sustained $11 billion in damages, the lawsuit alleges. Representatives for Bankman-Fried, Brady, Osaka and the Golden State Warriors did not immediately respond to requests for comment on Wednesday. FTX filed for bankruptcy and is facing scrutiny from U.S. authorities amid reports that $10 billion in customer assets were shifted from FTX to Bankman-Fried's trading company Alameda Research.

Nov 16 (Reuters) - Crypto broker Genesis Global Capital is suspending redemptions and new loan originations at its lending business, it said on Wednesday, in the latest sign of the industry fallout from last week's collapse of major crypto exchange FTX. "We have taken the difficult decision to temporarily suspend redemptions and new loan originations in the lending business. We are working diligently to shore up the necessary liquidity to meet our lending client obligations," a Genesis spokesperson said in a statement. U.S. court filings showed Sam Bankman-Fried, FTX's founder, is being sued in a U.S. class action by investors alleging the company's yield-bearing crypto accounts violated Florida law. The proposed class action filed late on Tuesday in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the United States.

☆ Trudeau expresses concerns to China's Xi over 'interference'
▼ + stars: | 2022-11-15 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

OTTAWA, Nov 15 (Reuters) - Canada's Prime Minister Justin Trudeau raised "serious concerns" over suspected domestic interference by China in his first talks with President Xi Jinping on Tuesday in more than three years, a Canadian government source said. Trudeau discussed his concerns about Chinese "interference activities" in Canada on the sidelines of a Group of 20 meeting on the Indonesian island of Bali, the government source said. China's embassy in Ottawa did not immediately respond to confirm the meeting or the points of discussion. Citing national security concerns, Ottawa banned the use of 5G gear from Huawei in May and earlier this month ordered three Chinese companies to divest from critical minerals in Canada. Trudeau and Xi last met in June of 2019 on the sidelines of another G20 in Osaka, Japan.

☆ Streaming enters a new reality with a boom in sports and drive for profitability as fresh voices continue to break through with innovative storytelling on new platforms
▼ + stars: | 2022-11-15 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Big entertainment players face pressure to make streaming profitable and satisfy diverse audiences. 100 People Transforming Business is an annual list highlighting people across industries who are changing the way the world does business. As streamers feel the limits of subscription growth, free, ad-supported TV streamers like Tubi have grabbed market share. While many in Hollywood fear that marginalized voices could get sidelined in a tougher market, 2022 has seen more storytelling and content elevating previously excluded communities. As CEO Ken Kim told Insider, "It's not just professional creators — they are from all over the world."

☆ BOJ Governor Kuroda vows to continue monetary easing for now
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Nov 14 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Monday the central bank would stick to monetary easing to support the economy for the time being so as to achieve sustainable and stable inflation accompanied by wage growth. "We are at a stage where we will continue monetary easing to firmly back economic activity at present," Kuroda told a meeting with business leaders in Nagoya in central Japan. (This story has been corrected to say Osaka instead of Nagoya in paragraph two)Reporting by Tetsushi KajimotoOur Standards: The Thomson Reuters Trust Principles.

FTX and about 130 of its companies entered voluntary bankruptcy proceedings in an abrupt fall from grace for a company that was once a darling of the crypto industry. In March 2021, FTX acquired the naming rights to the bayside arena for $135 million over 19 years. "The reports about FTX and its affiliates are extremely disappointing," the Heat said in a statement. "Miami-Dade County and the Miami Heat are immediately taking action to terminate our business relationships with FTX, and we will be working together to find a new naming rights partner for the area." "We are proud of the impact our Peace and Prosperity Plan... is already having in preventing violence and creating opportunity for young people across Miami-Dade," the Heat said.

☆ Crypto: What's next as FTX collapse triggers 'Lehman moment'?
▼ + stars: | 2022-11-11 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

And can the beaten-down crypto industry bounce back? What’s clear is that the fallout from the FTX crisis injects significant volatility into the crypto ecosystem. “Thank God!”Can the crypto industry survive? “In the short term, this is going to be really, really bad for the crypto industry,” said Jog of Sei Labs. Fok said he expects the FTX collapse will push institutional investors away from the crypto space just as they had been warming up to it.

☆ Asia-Pacific stocks set to rise ahead of U.S. midterm elections, more economic data ahead
▼ + stars: | 2022-11-07 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

A man looks at an electric quotation board displaying the Nikkei key index of the Tokyo Stock Exchange in Tokyo. Shares in the Asia-Pacific are set to trade higher Monday as investors digest the latest U.S. jobs report and look ahead to the midterm elections. The Nikkei futures contract in Chicago was at 27,480 while its counterpart in Osaka was at 27,400 — higher than Nikkei 225's last close at 27,199.74. In Australia, the S&P/ASX 200 traded 0.34% higher. China is slated to release trade data later in the day, while Apple suppliers in the region will be in focus as the company warned Covid restrictions in China are hurting iPhone production.

☆ Asia-Pacific markets set to trade mixed ahead of Fed rate decision
▼ + stars: | 2022-11-02 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

Pedestrians cross a road in front of an electronic quotation board displaying the numbers of company stock prices on the Tokyo Stock Exchange in Tokyo on May 13, 2021. Shares in the Asia-Pacific poised for a mixed session on Wednesday as the Federal Reserve is expected to raise interest rates by 75 basis points. The Bank of Japan is expected to release its September meeting minutes and Fast Retailing is set to report sales for Uniqlo in Japan. In Australia, the S&P/ASX 200 traded 0.31% higher. South Korea's inflation inched higher to 5.7% in October, higher than 5.6% forecasted by analysts in a Reuters poll.

☆ Chinese fashion retailer Shein to open permanent 'event space' in Tokyo
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 1 (Reuters) - Chinese fashion retailer Shein is to open its first permanent premises in Tokyo this month, the company said on Tuesday,aiming to bolster its online brand with a physical presence. Opening from Nov. 13 on Cat Street in the Harajuku fashion district, it will be the company's first such physical event space in the world, a Shein spokesperson told Reuters. Shoppers will be able to browse clothing at the storefront and scan QR codes that will allow them to make purchases online. The space may be modified to host fashion shows and designer events as needed, the spokesperson said. The Chinese retailer operated pop-up stores in Japan earlier this year, and in October opened a temporary location in the western metropolis of Osaka.

☆ Asia-Pacific markets set to rise ahead of China factory activity data
▼ + stars: | 2022-10-31 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

Pedestrians cross a street in front of the Tokyo Stock Exchange, operated by Japan Exchange Group, in Tokyo, Japan. Shares in the Asia-Pacific are set to rise on Monday ahead of China's factory activity data that's slated to be released, and as markets look ahead to the U.S. Fed meeting later this week. On Friday in the U.S., major stock indexes jumped 2% each on optimism that inflation may be slowing. Later this week, the Federal Reserve will hold its policy meeting and announce its interest rate decision. Several countries will report inflation data this week.

☆ India’s words are anti-war, but New Delhi’s actions are propping up Putin’s regime
▼ + stars: | 2022-10-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +8 min

New Delhi has repeatedly abstained from votes condemning Russia at the United Nations – providing Moscow with a veneer of international legitimacy. And in August, India participated in Russia’s large-scale Vostok military exercises alongside China, Belarus, Mongolia and Tajikistan – where Moscow paraded its vast arsenal. “There’s a feeling that Putin is pushing India’s limits because in some ways, it’s put itself out on a limb. Mikhail Svetlov/Getty ImagesSuperficially at least, India and China also appear to have similar positions on the Ukraine war. But despite India’s increasing closeness with the West, it is prioritizing the dangers in its own backyard, analysts say.

In this article EXPE Follow your favorite stocks CREATE FREE ACCOUNTTravelers headed to Hong Kong no longer need to quarantine in a hotel upon arrival. The news came the day after Hong Kong lost its No. Expedia's search data for accommodations in Hong Kong increased 50% over the weekend, compared to the week before the announcement. Pang Yiu-kai, chairman of the Hong Kong Tourism Board, acknowledged on Tuesday that the eased rules are "expected to initially attract mainly business travelers, family visitors and returning Hong Kong residents." The easing of Covid-19 measures in Hong Kong spurred hope among residents of China that they could soon see relaxed rules as well.

"We are deeply concerned about recent rapid and one-sided market moves driven in part by speculative trading," Suzuki told the news conference. The remarks came after the government's decision on Thursday to intervene in the currency market to stem yen weakness by selling dollars and buying yen for the first time since 1998. read moreKuroda said the government's intervention was an appropriate move to deal with "rapid, one-sided" yen moves. "Monetary policy and currency policy have different goals and effects," he said. "It was a meaningful move that showed Japan's determination it won't leave unattended sharp market volatility," he said.

☆ London copper price hits two-month low on strong dollar
▼ + stars: | 2022-09-26 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

(Reuters) - London copper prices hit a more than two-month low on Monday, as a stronger dollar made greenback-priced metals more expensive to holders of other currencies. FILE PHOTO: A worker checks copper wires at Truong Phu cable factory in northern Hai Duong province, outside Hanoi, Vietnam August 11, 2017. LME aluminium hit an 18-month low of $2,151 a tonne, zinc eased 0.4% to $2,995.50 a tonne by 0326 GMT while tin rose 1.5% to $20,540 a tonne. The most-traded October copper contract on the Shanghai Futures Exchange declined 2.7% to 60,840 yuan ($8,500.17) a tonne. ShFE nickel dropped 3.1% to 188,620 yuan a tonne, tin fell 3.1% to 178,510 yuan a tonne, aluminium declined 1.9% to 18,380 yuan a tonne and zinc was down 2.2% to 24,430 yuan a tonne.

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