Money

The US sends American companies based in Hong Kong a stern warning

Published

4 years ago

July 14, 2021

The US sends a stern warning to American companies based in Hong Kong, as China establishes its dominance in the financial sector

US authorities are sending a warning to American companies in Hong Kong amid growing concerns over China’s reach. The US has raised concerns about China’s ability to gain access critical American company data.

This comes as the most recent indication of Biden’s growing fears about Hong Kong’s independence. These concerns have continued growing since Beijing launched a crackdown on local pro-democracy demonstrations in 2019.

The US also appears to be concerned about the new regulations allowing Beijing to intercept anyone who it believes isn’t complying with anti-China sanctions.

The warning follows Trump’s decision last year to decrease trade privileges in Hong Kong. The US previously awarded these privileges in recognition of the territory’s independence from Beijing.

China crackdown intensifies

However, American companies in Hong Kong aren’t the only ones suffering as of recent times. This comes after Wechat and Alipay removed Didi’s main app.

Wechat and Alipay which have over 1 billion users. Wechat and Alipay are ‘super-apps’, meaning users can open and use other apps without leaving. Didi shares have dipped 20 percent since the removal.

While Didi’s half-billion existing users will still be able to order rides, for now, China’s cybersecurity crackdown adds to the uncertainty surrounding all the nation’s internet companies.

Chinese regulators asked Didi as early as three months ago to delay its landmark U.S. IPO because of national security concerns involving its huge trove of data.

Didi Removed From WeChat And Alipay Apps As China Crackdown Intensifies

Money

Trump’s copper tariff shakes global markets

Trump’s 50% copper import tariff aims to strengthen U.S. manufacturing, impacting global supply chains and Chile significantly.

Published

23 hours ago

July 10, 2025

ticker NEWS

Trump’s 50% copper import tariff aims to strengthen U.S. manufacturing, impacting global supply chains and Chile significantly.

President Donald Trump has unveiled plans to impose a 50% tariff on copper imports, a move set to rattle global supply chains and redraw the industrial map.

The tariff will hit within weeks, with Chile, the world’s largest copper exporter, expected to bear the brunt.

While Australia’s direct copper trade with the US is limited, analysts say the real message is strategic: the US is reinforcing its domestic manufacturing power.

#CopperTariff #DonaldTrump #TradeWar #GlobalMarkets #TickerNews

Money

RBA unexpectedly keeps interest rates steady at 3.85%

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

Published

3 days ago

July 8, 2025

Ahron Young

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

In Short:
The Reserve Bank of Australia has kept its cash rate at 3.85% despite concerns from the Housing Industry Association about its impact on new home construction. Although inflation is within target and there’s some market confidence, households are under financial strain amidst economic uncertainties.

The Reserve Bank of Australia has decided to maintain the cash rate at 3.85% following a split vote of six to three. This unexpected decision comes as the Housing Industry Association warns that these rates remain restrictive, potentially hindering new home building.

Senior economist Tom Devitt stated that the rates will delay necessary building activity but noted improved market confidence following previous rate cuts.

Current inflation data shows the RBA’s preferred measure has been declining and remains within the target range. However, household spending is under strain, with Australia experiencing a per capita recession since mid-2022.

Labour costs

The RBA’s decision was influenced by concerns over productivity growth and high unit labour costs, affecting its inflation outlook. While some economists anticipated a rate cut, the RBA opted for caution due to economic uncertainties, both domestically and internationally.

The bank acknowledged gradual recovery in private demand and household incomes but highlighted ongoing challenges in passing cost increases to final prices.

Despite the hold on rates, price rises in essentials like petrol continue to impact Australian households. The RBA emphasized the need for ongoing assessment before making future rate changes, suggesting a careful approach in response to evolving economic conditions.

Money

Feeling the stress this tax season?

Join Dr. Steve Enticott for essential tax tips to avoid costly mistakes this season and maximize deductions for 2025.

Published

3 days ago

July 8, 2025

ticker NEWS

Join Dr. Steve Enticott for essential tax tips to avoid costly mistakes this season and maximise deductions for 2025.

It’s that time of year again, and if you’re feeling overwhelmed, you’re not alone.

With so many moving parts, from missed deductions to misplaced receipts, small mistakes can lead to big losses.

Dr Steve Enticott from CIA Tax joins to break down what people forget most, which new deductions to know for 2025, and why a simple checklist can save you money.

#TaxTime #MoneyTips #2025Tax #TaxReturn #TickerNews