Today's Top Story
China Evergrande's electric car unit's shares tumble 23% after warning
HONG KONG (Reuters) - Shares of China Evergrande's electric car unit China Evergrande New Energy Vehicle Group plunged as much as 23% on Monday after it warned it faced an uncertain future unless it got a swift injection of cash and after it said it will not proceed with plans to issue RMB shares. Read More
Business News
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Tesla Shanghai to make 300,000 cars Jan-Sept despite chip shortage - sources
BEIJING (Reuters) - Tesla Inc's Shanghai factory is expected to produce 300,000 cars in the first nine months of the year, capped by a delivery rush in the end of the July-September quarter, despite a global semiconductor shortage, two sources said.
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Asia shares hesitant as oil hits 3-year highs
SYDNEY (Reuters) - Asian shares got off to a cautious start on Monday as a jump in oil prices to three-year highs could inflame inflation fears and aggravate the recent hawkish turn by some major central banks.
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Cryptocurrency exchange Huobi to clean up existing mainland clients by end-2021
BEIJING (Reuters) - Chinese cryptocurrency exchange Huobi Global said on Sunday it had stopped taking new mainland customers from Friday and would end contracts with mainland clients by the end of the year to comply with local regulations.
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Economic News
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Asia shares hesitant as oil hits 3-year highs
SYDNEY (Reuters) - Asian shares got off to a cautious start on Monday as a jump in oil prices to three-year highs could inflame inflation fears and aggravate the recent hawkish turn by some major central banks.
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Pelosi sets Thursday vote on infrastructure, eyes smaller social spending bill
WASHINGTON (Reuters) -U.S. House of Representatives Speaker Nancy Pelosi on Sunday set a vote on the $1 trillion bipartisan infrastructure bill for Thursday and voiced confidence it would pass.
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Quad leaders press for free Indo-Pacific, with wary eye on China
WASHINGTON (Reuters) -Leaders of the United States, Japan, India and Australia vowed on Friday to pursue a free and open Indo-Pacific region "undaunted by coercion" at their first in-person summit, which presented a united front amid shared concerns about China.
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Money News
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U.S. SEC delays certain assets from enforcement actions under new disclosure rule
WASHINGTON (Reuters) -The U.S. Securities and Exchange Commission (SEC) said on Friday that it would delay enforcement of certain assets from a new disclosure rule for off-exchange securities until Jan. 3, 2022.
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Bulk of S&P 500 embraces sustainable accounting standard, foundation says
(Reuters) - More than half of companies in the S&P 500 now use a common standard from the Value Reporting Foundation to report on topics like carbon emissions and energy management, indicating executives are paying more attention to an area likely to face new regulations soon, a foundation official said.
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Chinese crackdown on bitcoin another blow to Cathie Wood's ARK ETF
NEW YORK (Reuters) - China's moves to crack down on bitcoin trading dealt another blow to Cathie Wood's ARK Innovation Fund, which outperformed all other U.S. equity funds last year but is now mired among the worst of its peers.
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