Tagged: The Fed

Luckin Coffee agreed to pay $180 million in fines

Bloomberg丨Reuters丨Financial Times: The Fed announced that it will continue to release water and tie up with the economy

After the two-day policy meeting, Fed Chairman Powell said that the main problem with the US economy is that the service industries that require close contact have been severely hit, and the problems in these industries cannot be solved by “water injection.”

However, considering the pressure that the U.S. economy may endure in the next few months, the Fed finally unanimously adopted the policy of maintaining the “water release”.

In addition, the Fed’s approach to linking the “water release” policy to employment rates and inflation this time also provided additional confidence to the market.

Affected by this, most US stocks have risen, and the Nasdaq Index has reached a record high.

Reuters: Wright Hezer advises Biden to continue to pressure China

In an interview on Wednesday, Lightheizer stated that the Biden administration should continue to adopt a high-handed attitude towards China.

Although various data show that the trade war with China has not reduced the U.S. trade deficit and guided the return of manufacturing to the U.S., Lightheizer said that the trade war has at least changed people’s perceptions of China and made entrepreneurs understand the over-reliance on China. risk.

In addition, Lightheizer also stated that the dispute negotiations between the United States and Europe on the aircraft manufacturing subsidy should take into account China’s issues, and should have a warning effect to deter the Chinese government from subsidizing the aircraft manufacturing industry.

Otherwise, once China starts to seize the aircraft manufacturing market by relying on government subsidies, competitive subsidies and trade wars may appear again.

Financial Times丨Wall Street Journal丨Bloomberg: Credit Suisse Coffee agreed to pay $180 million in fines and settlement

US regulatory authorities recently issued a fine of $180 million for Credit Suisse Caffeine for allegedly falsifying bank records and transaction data.

Credit Suisse expressed acceptance of the punishment, but did not admit or deny the allegation. The settlement agreement is still pending approval by the court.

Credit Suisse Coffee had a total of US$300 million in fictitious sales between April 2019 and January 2020. After the scandal broke out, Credit Suisse Coffee’s share price plummeted by 75% and was subsequently delisted by Nasdaq.

The Straits Times: Indonesia will vaccinate all citizens for free against the new crown

Indonesian President Joko recently announced that Indonesia will provide all citizens with free new crown vaccination, and he himself will be the first to receive the vaccine.

Joko said the decision was made after consulting multiple opinions and repeatedly calculating government finances.

According to previous investigations by the Indonesian Ministry of Health, Indonesia has received 1.2 million doses of the new crown vaccine from China on December 6, and will start fighting in the near future.

Indonesia is the fourth most populous country in the world, with a population of 270 million. Indonesia’s new crown vaccination target is to cover 67% of the 18 to 59-year-old population. This group is also the most mobile group in Indonesia.

However, survey data from the Indonesian Ministry of Health show that if paid vaccination is required, only 64.8% of people in Indonesia will be willing to vaccination.

Reuters: Saudi Aramco may become sellers

It is reported that Saudi Aramco may change its properties or borrow money to perform its fiscal functions.

The poor oil market this year has caused Saudi Aramco’s profits to plummet, but the company still insists on paying the government its promised $75 billion in dividends, and it is expected to continue to do so next year.

If oil prices rise above US$50, Aramco will be able to maintain this part of the expenditure, but if oil prices fall, Aramco will have to attract foreign debt or sell assets to maintain expenditure.

According to people familiar with the matter, the company is already considering selling more than $10 billion in shares and may sell more assets to raise funds.

Nikkei Asian Review: Fosun will import 100 million doses of Pfizer vaccine

Shanghai Fosun Pharmaceutical Group said on Wednesday that it will purchase at least 100 million doses of COVID-19 vaccine from Pfizer next year for use in mainland China.

The company has reached an agreement with Pfizer. According to the supply agreement, the advance payment for the first 50 million doses of the new crown vaccine is 250 million euros, and 125 million will be paid before December 30. The balance will be paid after approval and approval for listing.

Fosun Pharma has brought two COVID-19 vaccines from Pfizer to clinical trials in China, but they have not yet been approved by the regulatory authorities.

Bloomberg: China is still included in the watch list of exchange rate manipulators
Recently, the US Treasury Department issued a report, listing Switzerland and Vietnam as currency manipulators for the first time, while China remains on the watch list.

There are three criteria for judging foreign exchange manipulators. If two of them are met, they will be placed on the watch list, while China meets only one condition, but it is also included on the watch list.

The United States had previously targeted China twice in the 1990s and 2019, calling China a currency manipulator.

The new watch list this time also includes Taiwan, Thailand and India.

China is still included in the watch list of exchange rate manipulators