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Market Talk – July 13, 2021 | Armstrong Economics
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Didi Global Inc shares fell as much as 25% in early U.S. trading on Tuesday in the first session since Chinese regulators ordered the company’s app to be taken down days after its $4.4 billion listing on the New York Stock Exchange. The ride-hailing giant’s app was ordered to be removed from mobile app stores in China on Sunday by the Cyberspace Administration of China (CAC), which had said it was investigating Didi’s handling of customer data. The CAC on Monday also announced cybersecurity investigations into other Chinese companies whose parents have listed in the United States, and those parents’ shares also slid.
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NATO leaders warned on Monday that China presents “systemic challenges,” taking a forceful stance towards Beijing in a communique at Joe Biden’s first summit with an alliance that Donald Trump openly disparaged. The new U.S. president has urged his fellow NATO leaders to stand up to China’s authoritarianism and growing military might, a change of focus for an alliance created to defend Europe from the Soviet Union during the Cold War.
China has accused the United States of trying to sow discord in its relations with Europe and called on European nations not to tie themselves to the US strategy. China also vowed to take action against NATO, which labeled Beijing a challenge to the security alliance.
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China urged the Philippines on Tuesday to observe “basic etiquette,” and eschew megaphone diplomacy after the southeast Asian nation’s foreign minister used an expletive-laced Twitter message to demand that China’s vessels leave disputed waters. In a statement, China’s foreign ministry urged the Philippines to respect the nation’s sovereignty and jurisdiction and stop taking actions that complicate the situation. The Chinese ministry cited Philippine President Rodrigo Duterte that differences between the countries on individual issues should not affect friendship and cooperation.
India and UK announced 1 billion pounds ($1.39 billion) of private-sector investment and committed to seek a free trade deal. Prime Minister Modi and Prime Minister Boris held a virtual meeting to discuss the bilateral talks of two nations. The British government set out 533 million pounds of Indian investment into Britain, including 240 million by the Serum Institute for
Market Talk – April 20, 2021 | Armstrong Economics
armstrongeconomics.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from armstrongeconomics.com Daily Mail and Mail on Sunday newspapers.
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