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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.
Read moreEuropean Union considering stopgap measure for UK financial services post Brexit
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.
Read moreInvestors bet on credit deterioration on Treasury-Fed reserve divide
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.
Read moreBritish parliament committee says Huawei colludes with the Chinese state
On Monday banking and insurance regulator of China issued draft rules to rein in risks accumulated in country’s booming online insurance sector.
Read moreChina to tighten supervision of country’s booming online banking and insurance business
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.
Read moreFed Reserve’s $3 trillion coronavirus rescue inflates market bubbles
China unveiled today a long-anticipated scheme linking up investment in wealth management products in Macau, Hong Kong and neighbouring mainland Chinese cities.
Read moreChina unveils wealth management scheme for Mainland, Hong Kong And Macau
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.
Read moreAmazon Inc agrees to buy self-driving startup Zoox for over $1 billion