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China ousts defence minister, second leader gone in three months

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China removed its defence minister, the second ousting of a senior leader in three months, raising questions about the stability of the leadership team around Chinese President Xi Jinping.

General Li Shangfu, who has been absent from public view for two months, was dismissed as defence minister and state councillor, according to state media.

China also announced that Qin Gang, who was removed as foreign minister in July, was stripped of his state councillor position.

China’s top legislators, the Standing Committee of the National People’s Congress, approved the removal of both men, state broadcaster CCTV reported, without giving any explanation.

No replacement for Li was named, leaving the country without a defence minister as it prepares to host foreign defence officials at the Beijing Xiangshan Forum on Oct. 29-31.

Li, 65, was last seen in public on Aug. 29. Reuters reported last month that he was under investigation for suspected corruption related to equipment procurement and development.

He had only been in the job since March, when Xi started his precedent-breaking third term as head of state. Li, who is under U.S. sanctions over Beijing’s purchase of combat aircraft and equipment from Russia, is China’s shortest-serving defence minister.

Qin had also served less than a year before he disappeared from public view and was replaced by his predecessor, Wang Yi. No formal explanation has been given but the Wall Street Journal cited sources saying Qin had an extramarital affair while he was ambassador to the United States.

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Markets brace for pivotal week following renewed US-China trade talks

Global markets brace for US-China trade talks, earnings, and inflation data impacting investor sentiment and central bank outlook.

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Global markets brace for US-China trade talks, earnings, and inflation data impacting investor sentiment and central bank outlook.


Global markets prepare for a critical week as US–China trade talks, major earnings, and inflation data could shift investor sentiment and central bank expectations.

Kyle Rodda from Capital.com breaks down the key risks and opportunities.

#GlobalMarkets #USChinaTrade #Inflation #EarningsSeason #Investing #FederalReserve #AUD #Tesla #Netflix #MarketUpdate


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Global markets steady ahead of CPI

Global equities stay strong near record highs as investors await US CPI data to assess central bank decisions.

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Global equities stay strong near record highs as investors await US CPI data to assess central bank decisions.


Global equities remain resilient, with Wall Street, Europe, and Asia near record highs as investors eye Friday’s US CPI data to gauge central bank moves.

Market watchers note cautious optimism amid ongoing volatility.

#GlobalMarkets #CPI #WallStreet #Equities #Investing #CentralBanks #RBA #Fed #USMarkets #MarketUpdate


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US sanctions Russia’s top oil giants

US sanctions on Rosneft and Lukoil aim to pressure Moscow amid oil price surges; impact depends on enforcement.

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US sanctions on Rosneft and Lukoil aim to pressure Moscow amid oil price surges; impact depends on enforcement.


The US has imposed new sanctions on Rosneft and Lukoil, aligning with Europe to pressure Moscow amid rising oil prices and global market tensions.

Analysts warn the real impact will hinge on enforcement and international response.

#Russia #USSanctions #Rosneft #Lukoil #OilMarkets #Geopolitics #EnergyCrisis #DonaldTrump #EU #GlobalTrade #Moscow


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