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Defunct crypto group FTX seeks to claw back $1.8 bn from Binance
The liquidators of the defunct cryptocurrency exchange FTX have sued to try to claw back $1.8 billion paid by the company to competitor Binance the year before its bankruptcy, according to court documents filed Sunday. After FTX filed for bankruptcy in November 2022, a liquidation plan for the company's assets was approved in early October by federal judge John Dorsey.
Lindt melted own 'excellence' claim in US lawsuit: reports
In a bid to dodge a US lawsuit, Swiss chocolatier Lindt & Sprungli has scuppered its own claims about the excellence of its products -- a cornerstone of its marketing strategy. "In its defence strategy, the company has dismantled its own promises of quality," claimed the Swiss newspaper NZZ am Sonntag, raking over a September US court decision.
'London's best-kept secret': UK's largest wholesale market turns 50
By the time most Londoners had rolled out of bed on Monday morning, Gary Marshall was already winding down for the day at New Covent Garden Market. "If you're here at one, two or three in the morning, it's like a little city with hundreds and hundreds of people," said Wanda Goldwag, chair of the Covent Garden Market Authority, which manages New Covent Garden Market.
China says to impose anti-dumping measures on EU brandy
China said Monday it will impose "temporary anti-dumping measures" on brandy imported from the European Union, deepening a trade standoff between Beijing and Brussels after similar measures last month. As well as the provisional brandy tariffs, Beijing has also launched anti-dumping probes into some European pork and dairy imports.
China's 'Singles Day' shopping spree in spotlight as spending flags
China's largest online shopping bonanza wraps up on Monday, with analysts and investors watching for signs that consumption is rebounding in the world's second-largest economy after recent efforts by Beijing to boost activity. This year's Singles Day could represent a major boon for retail giants as analysts watch for signs that recent measures are having an impact.
Asian stocks drop as China support plan falls flat, bitcoin hits record
Asian markets fell Monday after China's keenly anticipated plans to support the world's number two economy fell short of expectations, while traders were also keeping tabs on Washington as Donald Trump puts his cabinet together after last week's election win. "Yet President-elect Donald Trump’s policy proposals could lead to heightened macroeconomic volatility.
Asia, the world's economic engine, prepares for Trump shock
Some Asian countries stand to gain if US president-elect Donald Trump pushes ahead with his promised massive tariffs on China and triggers a new wave of factory relocations to the rest of the region.
Trump victory poses challenges for the Fed's independence
Donald Trump's return to the White House could put the independence of the US Federal Reserve under strain, potentially weakening its ability to fight against inflation and unemployment free from political interference. The Fed has a dual mandate from Congress to act independently to tackle both inflation and unemployment -- primarily by raising and lowering interest rates.
US farmers gird for trade wars on Trump tariff pledges
Donald Trump's first White House term saw a bruising trade war with China that left a lingering impact on farmers -- and many are bracing for further fallout as the President-elect threatens higher levies on Beijing.
AFP
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