Market TrendsByteDance races to salvage TikTok deal after Trump vows ban
ByteDance, the Chinese owner of TikTok, is racing to save the video-sharing app’s US operations by making a last-ditch plea to the Trump administration to allow it to sell the unit to Microsoft.
Market TrendsState Street lashes out at new US ESG rule
State Street Global Advisors, the world’s third-largest asset manager, has lambasted a proposed US rule on the use of environmental, social and governance investing across pension portfolios, arguing it could jeopardise the retirement incomes of millions of people.
Cyber SecurityFlorida teen arrested as ‘mastermind’ of Twitter hack
US authorities have charged three individuals in connection with the July 15 Twitter hack that compromised 130 accounts, including those of Barack Obama, Bill Gates and Elon Musk.
Market TrendsDonald Trump vows to ban TikTok from the US
Donald Trump has vowed to ban TikTok, the Chinese-owned video-sharing app, from operating in the US as his administration finalised a national security review of the company.
Market TrendsApple Purges More Than 30,000 Apps From Its China Store
Apple Inc. removed more than 30,000 apps from its China store Saturday, with games making up 90% of the apps, Qimai Research Institute said.
Actual Controller ChangeShenzhen Stock Exchange Names Veteran Regulator as New President
The Shenzhen Stock Exchange has appointed a former official from the country’s top securities regulator to its No. 2 position, filling a position as president that had remained vacant for nearly five months.
Financial FraudChina Regulators to Punish Luckin Coffee for Financial Fraud
Chinese regulators will impose penalties on Luckin Coffee Inc. after an official investigation confirmed that the coffee chain fabricated hundreds of millions of dollars in sales.
Market TrendsWind Powers China’s Latest Electric Investment Wave
China’s spending on electric power infrastructure rose strongly in the first half of the year, with wind power recording triple-digit growth to make up a quarter of all investment as the nation continued its drive to get more power from cleaner, renewable sources.
Corruption & BriberyFormer Head of Bankrupt Coal Giant Probed for Corruption
The former head of Sichuan Coal Industry Group Ltd. Liability Co. is being investigated for corruption, as the province’s leading miner moves through a court-led bankruptcy reorganization after defaulting on more than 1 billion yuan ($143 million) in debt over the last four years.