Trump asks for more money

Bloomberg丨Financial Times: U.S. stimulus bill changes suddenly, Trump asks for more money

On Tuesday night, Trump’s video speech suddenly added a lot of uncertainty to the $900 billion stimulus bill reached by the two parties in Congress.

Trump described the bill as a shame and full of wasted and unspent money. At the same time, Trump asked to increase the money sent directly to the Americans from $600 to $2,000 per person.

Trump stated that if Congress does not modify it, the next administration will have to sign the bill. Trump still expressed his confidence that he will continue to dominate the next administration.

Trump has been scolding the Democratic Party for delaying in launching the stimulus bill in order to bring him down.

After Trump released the speech, the S&P 500 futures index fell 0.5%. The Democratic spokesman Pelosi expressed his willingness to increase the check amount to $2,000 per person.

Trump

Bloomberg丨Reuters丨Nikkei Asia Review: Apple refused to buy Tesla for $60 billion

Tesla President Musk said on Tuesday that he contacted Apple during the difficult period of Model 3 development and wanted to discuss selling Tesla to Apple.

At that time, the price proposed by Musk was only one-tenth of the current market value of Tesla, or $60 billion. But this proposal was rejected by Apple CEO Cook. An Apple spokesperson declined to comment.

In addition, for Apple’s statement that it will use lithium iron phosphate batteries that are safer than ternary lithium batteries, Musk directly responded, saying that Tesla’s Shanghai factory is already using the battery.

Musk revealed this news when Apple had just announced that it would launch the first electric car in 2024. His words were full of disdain for Apple.

 

Bloomberg: The China-EU Investment Agreement is about to be signed, and the United States will spoil the situation

While China and the EU are actively promoting the signing of the China-EU Comprehensive Investment Agreement before the end of the year, opposition forces within the EU are constantly putting pressure on the EU to slow down the negotiation process of the agreement before China resolves the issue of forced labor.

Sullivan, Biden’s national security adviser, said on Twitter a few days ago that he needs to negotiate with his European partners as soon as possible on China’s forced labor issue of common concern.

The head of the Mercator China Institute from Berlin said that the signing of the China-EU Comprehensive Investment Agreement will be China’s victory over Hong Kong and Xinjiang, and will also split the transatlantic partnership between Europe and the United States.

 

Bloomberg: Hang Seng Index or the big change

The Hang Seng Index Company is considering major revisions to the Hang Seng Index, when the weight of large companies will be diluted.

The currently published consultation paper proposes to maintain a certain number of Hong Kong companies, increase the number of shares of Hengcheng from 65 to 80, and lower the weight limit from 10% to 8%.

The consultation will end on the 24th of next month, and the results of the consultation are expected to be announced in February next year.

The Hang Seng Index was founded in 1969 and initially had only 33 constituent stocks. In 2012, it increased to 50 constituent stocks.

But with the entry of a large number of mainland companies, the index can no longer reflect the overall situation of the Hong Kong stock market.

 

Reuters: FTSE Russell starts again on Chinese companies

Britain’s FTSE Russell said on Tuesday that it will take US sanctions against Chinese companies and remove SMIC and Hikvision from the FTSE China 50 Index and the FTSE China A50 Index from January 7.

And said that it will continue to track US sanctions and adjust the index if necessary.

Some fund managers analyzed that due to the limited number of large Chinese companies subject to restrictions, this removal seems to have little impact on most US investors.

But if the list is expanded to large companies, the impact will be very large.

 

Financial Times: Coal shortage causes prices to rise

The price of coal, which was once depressed, has recently started to soar.

Previously, weak prices have caused the coal market to be undervalued, resulting in insufficient supply. However, with the economic recovery, the demand for coal in several Asian countries, such as China, Japan, India and other countries, has begun to pick up, leading to a situation in which supply exceeds demand.

In addition, due to tensions in Sino-Australian relations, China turned to Russia, South Africa and other countries to import coal, driving up coal prices in these countries.

Australia has also repositioned itself to new markets such as India and Bangladesh, leading to rising coal prices in Australia.

Nikkei Asian Review: Sina plans to delist from New York

It is reported that due to the intensification of Sino-US relations, Sina CEO Cao Guowei plans to let shareholders vote on Wednesday to decide whether to withdraw from the New York market.

This requires the approval of at least two-thirds of shareholders, and Cao Guowei alone owns 61% of the voting rights.

After the United States indicated that it would review Chinese companies, at least 14 Chinese companies listed in New York have expressed their intention to privatize this year, including 58.com and Sogou. JD.com and NetEase have also relisted in Hong Kong this year.

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Reprint indicated source:Spark Global Limited information


1 Response

  1. Isobel says:

    At a White House briefing, U.S. President Donald Trump said he will require large businesses and institutions like Harvard University to return money they received from their Small Business Assistance Loan Program

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