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On April 16th, Zhang Jun, Tencents Public Relations Director, announced the official release and open-sourcing of HY-World 2.0, a 3D world model. It allows users to generate 3D assets with a single line of code and directly import them into game development or embody simulation engines, achieving true playability and usability.On April 16th, Krishna Bimwalap, Asia-Pacific economist at Stick Investment Management, stated that Australias labor market remained strong in March, but its remarkable resilience is unsettling, as it further underscores the need for further interest rate hikes. The Reserve Bank of Australia (RBA) may not be overly concerned if the unemployment rate rises from 4.3% to 5.0%, meaning it has ample room for further rate hikes. Bimwalap believes there is at least two more rate hikes this year.On April 16th, Mao Shengyong, Deputy Director of the National Bureau of Statistics, stated at a press conference held by the State Council Information Office that the economic performance in the first quarter was remarkable, fully demonstrating the strong resilience of my countrys economy. Data shows significant improvements on both the supply and demand sides. Agricultural production was performing well, industrial added value increased by 1.1 percentage points year-on-year, and the service sector maintained rapid growth. On the demand side, the year-on-year growth rate of total retail sales of consumer goods in the first quarter was 0.7 percentage points higher than the previous year, fixed asset investment growth turned positive, and the total import and export volume of goods achieved its highest quarterly growth rate in nearly five years. Given the high economic growth rate in the first quarter of last year, the fact that the economy has still achieved a good start this year fully demonstrates the resilience of the Chinese economy.Japanese Finance Minister Satsuki Katayama: The G7 believes there is no urgent need to coordinate actions on private credit.According to the National Bureau of Statistics, in the first quarter, 200.26 million hogs were slaughtered, up 2.8% year-on-year; and the number of hogs in stock at the end of the quarter was 423.58 million, up 1.5%.

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

Aria Thomas

Jun 07, 2022 11:02

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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.