Li Auto Seeks to Double its Car Sales by September
China EV maker Li Auto anticipates sales of about 10,000 cars every month from September, according to press release. The projections is an upgrade after deliveries jumped 11.3% last month…
Penalties for Crypto Mining Proposed for China’s Inner Mongolia
Bitcoin miners in China’s Inner Mongolia region face punishments in new crackdowns, according to CNBC. Businesses could also lose their licenses for participating in crypto mining. Individuals laundering money through…
Amazon Faces Antitrust Lawsuit over Pricing Policy on its Marketplace
The District of Columbia has launched an antitrust lawsuit against Amazon over its treatment of sellers, according to the Wall Street Journal. The e-commerce giant is accused of blocking its…
Invesco Analyst Hooper Raises Concerns over High Yields of Canadian Bonds
Avi Hooper, Invesco Ltd.’s senior portfolio manager, sees unsustainable yields on Canadian bonds, according to Bloomberg. Hooper says the bonds have risen too far and too quick, failing to match…
Digital Arts Boosted as Guggenheim Cofounder set to Build Largest NFT Tower in NY
Guggenheim cofounder Todd Morley is supporting the construction of a blockchain tower in New York, according to Bloomberg. The network tower is aimed at strengthening blockchain-based communication and trading in…
U.S New Home Sales Declined by 5.9% in April
Demand for new single-family houses in April waned as sales fell at 5.9% to an annual rate of 863,000 from March, according to the Census Bureau press release. April’s new…
Consumer Confidence Falls Slightly as Short-Term Expectations Decline
U.S Consumer Confidence Index was 117.2 in May, down slightly from April’s 117.5, according to Conference Board press release. The confidence reflected falling expectations as the index measuring short-term outlook…
U.S Commerce Department Finds Vietnam Culpable of Countervailable Subsidies
U.S Department of Commerce found that Vietnam exporters obtained countervailable subsidies, according to press release. The commerce department determined company-specific countervailing duty rates that ranged from 6.23% and 7.89% for…
Biden’s Tax Hike Faces Opposition from a Coalition of Business Groups
A coalition of 28 industry groups have joined hands to oppose plans to increase taxes by Biden’s administration, according to CNBC. The self-declared “job creators” consortium says hiking taxes will…
India’s Finance Ministry to Support Sectors Most Affected by COVID-19
India is making plans to introduce a stimulus package to support sectors hit by its worst coronavirus wave, according to Bloomberg. The package’s aim is to boost the economy as…
FTSE Russell Proposes Re-Addition of Xiaomi and Luokung into Global Equity Index
FTSE Russel has proposed to re-add Xiaomi Corporation and Luokung Technology Corp. to its Global Equity Index Series, according to press release. The proposal is subject to a determination by…
Germany’s First Quarter GDP Plunges 3.4% YOY to Remain its Pre-Crisis Levels
Germany’s price-adjusted gross domestic product in Q1 2021 was 3.4% below that of the comparable quarter of 2020, according to Destatis press release. Price and calendar adjusted GDP was 1.8%…
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