European Union assessments of whether to grant market access for banks and other financial firms from UK will not be completed in time for January and stop-gap measures are being considered, an European Union diplomat said on today.
On Friday the price of United States corporate debt fell as investors bet that credit conditions could deteriorate if key pandemic lending programs at the Federal Reserve are allowed to expire on December 31.
On Thursday the UK parliament’s defence committee said that it had found clear evidence that telecoms giant Huawei had colluded with the Chinese state and said Britain may need to remove all Huawei equipment earlier than planned.
On Monday banking and insurance regulator of China issued draft rules to rein in risks accumulated in country’s booming online insurance sector.
The Federal Reserve’s $3 trillion bid to stave off an economic crisis in the wake of the Covid-19 outbreak is fuelling excesses across United States capital markets. The U.S. central bank has pledged unlimited financial asset purchases to sustain market liquidity, increasing its balance sheet from $4.2 trillion in February to $7 trillion today.
China unveiled today a long-anticipated scheme linking up investment in wealth management products in Macau, Hong Kong and neighbouring mainland Chinese cities.
Amazon has agreed to pay over $1 billion to buy self-driving startup Zoox Inc, the Information reported on Thursday, citing sources, in a move that would expand the e-commerce giant’s reach in autonomous-vehicle technology.