Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Security scuffle with Chinese protestors demanding $1.5 billion in frozen bank deposits

Published

3 years ago

on

Thousands gathered in Southwest Beijing outside China’s central bank to protest frozen deposits, before facing heavy-handed security.

Around a thousand people gathered in the Chinese city of Zhengzhou in Henan province to protest rural-based banks who froze an estimated $1.5 billion worth of deposits on Sunday.

Those that gathered outside the Zhengzhou branch of China’s central bank are among the thousands of customers who opened accounts with a select few banks who offered higher interest rates.

Customers later found they couldn’t withdraw their funds after the head of the banks’ parent company was wanted and on the run for serious financial crimes. 

The millions of dollars worth of deposits have been frozen since April, the reason given by the banks’ being due to internal systems upgrades.

The banks in question haven’t responded to calls to make a comment on the matter.

https://twitter.com/W0lverineupdate/status/1545979633849380864

Footage shows that the protest was eventually broken up by plain-clothed security personnel who allegedly outnumbered protestors, three-to-one.

One 40-year-old protestor by the last name Zhang told a Reuters reporter, “I feel so aggrieved I cant even explain it to you.”

The man says he had been hoping to get back the $25,000 that he deposited with on the banks, Zhecheng Huanghuai Community Bank.

He says four unidentified security personnel took him away The clash with security also resulted in him suffering injuries to his foot and thumb.

“They did not say they would beat us if we refused to leave. They just used the loudspeaker to say that we were breaking the law by petitioning. That’s ridiculous. It’s the banks that are breaking the law.”

Zhang, Protestor

Related Topics:
Continue Reading

Money

Stocks decline as tariffs and trade tensions escalate

Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

Published

6 days ago

on

May 7, 2025

By

Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

In Short:
Stock indexes declined on Tuesday after a nine-day winning streak, while gold prices soared amid economic concerns. Major companies like Ford and Mattel adjusted forecasts due to tariff impacts, and the trade deficit hit a record high of $140.5 billion.

Stock indexes fell on Tuesday, following declines in the Dow and S&P 500 after a nine-day winning streak.

Gold prices reached a new record as markets reacted to ongoing economic concerns.

The downturn persisted following a meeting between Canadian Prime Minister Mark Carney and President Trump, where Carney rejected any notion of Canada being for sale.

Investors showed continued apprehension about the impact of U.S. tariffs and the absence of new trade agreements, particularly as major companies like Ford and Mattel suspended annual guidance due to tariff uncertainties.

Ford impact

Ford, while less affected than competitors, estimated potential tariff impacts could reduce profits by $1.5 billion, prompting a 2.8% increase in its stock.

In contrast, Mattel’s stock rose by 2.6% after it signalled a potential increase in U.S. toy prices, anticipating a $270 million hit from tariffs, while also planning to move manufacturing from China.

Both WK Kellogg and Marriott International adjusted their financial forecasts downward due to tariff-related challenges and broader economic uncertainties.

Clorox shares fell sharply after the company updated its guidance to reflect tariff impacts.

Additionally, President Trump indicated he would announce the details regarding pharmaceutical tariffs within two weeks.

On a related note, new data revealed the trade deficit reached a record $140.5 billion in March, exceeding economists’ expectations and reflecting a surge in imports amid trade policy changes.

Continue Reading

Money

Trump’s tariffs impact S&P 500 and Nasdaq markets

S&P 500 and Nasdaq decline amid Donald Trump’s new tariffs announcement, raising investor concerns ahead of Fed policy meeting.

Published

7 days ago

on

May 6, 2025

By

S&P 500 and Nasdaq decline amid Donald Trump’s new tariffs announcement, raising investor concerns ahead of Fed policy meeting.

In Short:
The S&P 500 and Nasdaq fell slightly after President Trump’s 100% tariff on foreign films, with investors worried about market effects ahead of the Federal Reserve’s policy decision. Despite some stocks performing well, overall market volatility and concerns over corporate profitability continue.

The S&P 500 and Nasdaq experienced slight declines on Monday following President Donald Trump’s announcement of a 100% tariff on foreign-produced movies.

Investors are assessing how this new tariff will impact the market ahead of the Federal Reserve’s monetary policy decision later this week.

The major indices have shown volatility since Trump initiated tariffs on April 2, briefly dropping 15% before recovering in the following sessions.

Treasury Secretary Scott Bessent expressed confidence that Trump’s tariff and tax agenda would stimulate long-term investments in the U.S., despite expected short-term market fluctuations.

Markets drop

The Dow Jones Industrial Average increased by 104.18 points, while the S&P 500 decreased by 9.60 points and Nasdaq fell by 39.60 points.

Despite Trump’s announcement, some media stocks showed resilience, while energy stocks suffered losses amid OPEC+ output hikes.

Investors await the Federal Reserve’s upcoming policy announcement, where rates are anticipated to remain unchanged, though future cuts are being priced in for 2025.

Corporate profitability concerns persist due to the new tariffs, evidenced by Tyson Foods’ significant revenue miss, while Skechers reported gains following its plan to go private.

Continue Reading

Money

U.S. economy contracts by 0.3% in first quarter of 2025

U.S. economy shrinks 0.3% in Q1 2025, raising trade policy concerns amid largest export drag since 1947. #USEconomy #GDP2025 #TradeWar #Tariffs

Published

2 weeks ago

on

May 1, 2025

By

U.S. economy shrinks 0.3% in Q1 2025, raising trade policy concerns amid largest export drag since 1947.


The U.S. economy contracted by 0.3% in the first quarter of 2025, missing forecasts and sparking concerns about the growing impact of trade policy.

The drop marks the largest net export drag recorded since 1947, as businesses scrambled to import goods before Donald Trump’s new tariffs kicked in.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#USEconomy #GDP2025 #TradeWar #Tariffs #NetExports #Trump #ConsumerSpending #TickerNews #Q1GDP #EconomicUpdate

Continue Reading

Trending Now