Money
Concerns for Press Freedoms as Apple Daily announces closure date
Hong Kong’s pro-democracy newspaper Apple Daily will stop operating on Thursday
The tabloid’s parent company, Next Digital said confirmed the news after national security police arrested another employee of the troubled newspaper.
The recent events bring the 26 year operations of the popular tabloid to a close.
Apple Daily is popular within Hong Kong. The newspaper, which mixes pro-democracy discourse with racy celebrity gossip and investigations of those in power, has escalated alarm over media freedom and other rights in the Chinese-ruled city.
In a statement on its website, Next Digital stated that the decision to close the newspaper, which employs about 600 journalists, was taken “due to the current circumstances prevailing in Hong Kong.”
Last weeek authorities in Hong Kong froze assets of companies linked to the newspaper and arrested five executives.
On Wednesday, it arrested a columnist on suspicion of conspiring to collude with a foreign country or foreign forces.
Authorities have revealed their concern over dozens of Apple Daily pieces that may have violated the security law, the first instance of authorities taking aim at media articles under the legislation.
Police officers escort Cheung Kim-hung, right, CEO and Executive Director of Next Digital Ltd at Apple Daily headquarters in Hong Kong, Thursday, June 17, 2021. Hong Kong police on Thursday morning arrested the chief editor and four other senior executives of Apple Daily under the national security law on suspicion of collusion with a foreign country to endanger national security, according to local media reports. (AP Photo/Kin Cheung)
There has now been an outcry from rights groups, media organisations and Western governments, who have criticised last week’s raid of the Apple Daily newsroom. Those who state press freedom has been violated.
The Apple Daily has come under increasing pressure following the arrest of its since tycoon owner and Beijing critic, Jimmy Lai.
Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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Money
Markets edge higher as 10-year yields hit new highs
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
All major stock indices are starting the week slightly higher, giving investors cautious optimism. Analysts are keeping an eye on movements in small caps and mega-cap tech stocks amid these early gains.
The yield on the 10-year Treasury note has climbed to 4.23%, the highest since last September. This follows Kevin Warsh emerging as the frontrunner for the next Federal Reserve Chair, sparking speculation on future monetary policy.
Rising yields could trigger a pullback in small-cap stocks, while investors may pivot toward mega-cap tech, expected to deliver strong earnings growth. Overall, the market is likely to see a neutral to slightly bearish trend next week due to overbought conditions.
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