Yellen confirmed as US Treasury head but faces massive challenges

Yellen confirmed as US Treasury head but faces massive challenges

(ATF) US President Joe Biden's pick for Treasury Secretary, Janet Yellen, won overwhelming Senate confirmation on January 25 and she is set to become the first woman to hold the prestigious job. She will face huge challenges from day one, having to work with Congress on passing the coronavirus pandemic …

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Biden's Commerce nominee to vow strong enforcement

Biden's Commerce nominee to vow strong enforcement

US President Joe Biden's nominee to head the Commerce Department will pledge on Tuesday (US time) to take "aggressive" action in response to trade practices from China. Rhode Island Governor Gina Raimondo will tell the US Senate commerce panel the United States must "take aggressive trade enforcement actions to combat …

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Asset managers turn to outsourcing as Covid shakes up office structures 

Asset managers turn to outsourcing as Covid shakes up office structures 

More pension funds, insurers and asset managers are outsourcing part or all of their dealing desks to specialist traders, as they look to cut costs and adapt to the coronavirus crisis. Last year's volatility in the markets, plunging as the pandemic took hold and rebounding as government stimulus kicked in, …

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China tops US for foreign direct investment in 2020

China tops US for foreign direct investment in 2020

(ATF) China saw $163 billion in inflows last year, compared to $134 billion for the United States, the United Nations Conference on Trade and Development (UNCTAD) said in a report released on Sunday January 25. In 2019, the United States received $251 billion in inflows and China received $140 billion. …

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Will Biden force China into a green energy investment race?

Will Biden force China into a green energy investment race?

Newly inaugurated US President Joe Biden has hit the ground running after only a few days in office, with ambitious plans unveiled and a score of executive orders signed reversing much of the Trump administration's environmental and energy regulations. The 78-year-old president is also poised to make good on his …

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Chinese telecom firms request another NYSE delisting reversal

Chinese telecom firms request another NYSE delisting reversal

(ATF) China Mobile, China Telecom and China Unicom have made an apparently coordinated request to the New York Stock Exchange (NYSE) to reverse an earlier decision to delist their shares, providing yet another twist to a confusing saga for investors. The NYSE – after a series of bizarre policy reversals …

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Japan PM says Olympics will go on despite surge in coronavirus

Japan PM says Olympics will go on despite surge in coronavirus

(ATF) The future of the already-delayed Tokyo Olympics - scheduled to begin in July - remains mired in doubt as conflicting reports roiled organisers of the world's largest sports event amid a surging coronavirus pandemic. The Times, the London newspaper, reported on January 22 that Japan's government has privately concluded …

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