• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 13th, Alibaba Cloud announced the completion of a further strategic investment in ZStack, achieving a controlling stake. According to reports, the two companies will leverage the "Apsara + ZStack" full-stack ecosystem to create an integrated cloud-edge solution.On January 13th, according to sources, U.S. Attorney Jeanne Piro of the District of Columbia issued a subpoena to the Federal Reserve without prior approval from her superiors at the Department of Justice and has no intention of halting the investigation into Jerome Powell due to external pressure. This investigation has drawn strong opposition from members of Congress, and even President Trump has publicly distanced himself from the matter. However, Piro, who was confirmed as a federal prosecutor just five months ago after transitioning from a Fox News host, still plans to continue the investigation. Current indications suggest that Piro is facing significant obstacles. U.S. media previously reported that Federal Housing Finance Agency Director Pulte was a key figure in pushing for the investigation of the Federal Reserve. However, Pulte stated on Monday that he was unaware of the subpoena. Representatives from Piros office and Attorney General Bondi declined to comment.On January 13th, the Ministry of Civil Affairs held a special press conference to introduce the "Several Measures on Cultivating Elderly Care Service Entities and Promoting the Development of the Silver Economy." Wang Bo, Deputy Director of the Department of Trade in Services of the Ministry of Commerce, stated at the conference that the Ministry will continue to create a favorable environment for opening up and cooperation. The Ministry of Commerce is actively promoting the national comprehensive pilot program for expanding the opening up of the service industry, encouraging pilot provinces and cities to explore related fields; and has revised and released the "Catalogue of Industries Encouraging Foreign Investment (2025 Edition)" with the National Development and Reform Commission, including encouraged categories such as "manufacturing of elderly products and related items." Going forward, the Ministry of Commerce will accelerate the national comprehensive pilot program for expanding the opening up of the service industry, continue to promote and interpret the new version of the "Catalogue of Industries Encouraging Foreign Investment," guide local governments to implement supporting measures, and guide more foreign investment towards the elderly care industry.On January 13th, the Ministry of Civil Affairs held a special press conference to introduce the "Several Measures on Cultivating Elderly Care Service Operators and Promoting the Development of the Silver Economy." Guo Hanqiao, Deputy Director of the Department of Aging Affairs of the Ministry of Civil Affairs, stated that the Ministry is actively promoting the inclusion of the development of the silver economy in relevant special plans, and, in conjunction with relevant departments, is studying and formulating support measures to promote the high-quality development of the silver economy, clarifying the main goals and key tasks for industrial development in the future. The focus is on sub-sectors such as elderly care services, rehabilitation assistive devices, and age-friendly products, proposing a series of targeted support measures to optimize the industrial layout, guide the orderly investment of social capital and technology, and promote industrial upgrading.January 13th - It is reported that, building on its local production in Europe and Southeast Asia in 2025, XPeng Motors plans to establish an independently operating overseas localized supply chain team in the European and ASEAN markets in 2026. This will support and deepen the layout and operation of overseas supply resources, improve supply chain response speed, and promote the implementation of its long-term strategy of "rooted in the local, local production, global supply".

Jane Street Global Sues The LME For $15.3 Million Due to The Cancellation of Nickel Deals

Aria Thomas

Jun 07, 2022 11:02

2.png


Jane Street Global Trading, located in the United States, has sued the London Metal Exchange for $15,3 million due to the cancellation of nickel deals in March. This is the second lawsuit the London Metal Exchange has faced this week.


The LME, which is controlled by Hong Kong Exchanges and Clearing, is being investigated by authorities after it paused operations and canceled nickel contracts on March 8 owing to volatility that caused prices to double within hours to more than $100,000 per tonne.


A Jane Street official stated in a statement that the move to cancel nickel deals "during a moment of heightened volatility seriously undermines the integrity of the markets and establishes a hazardous precedent that throws future contracts into doubt."


The Hong Kong bourse said in a statement that the LME viewed the U.S. quantitative fund and market maker's allegation to be "without merit and that the LME would fiercely oppose it."


Monday, the LME said it was being sued for $456 million by hedge fund Elliott Associates for canceling nickel deals.


HKEX issued a similar statement in response to the Elliott lawsuit, asserting that the LME had to intervene to safeguard the whole market when trading got chaotic.