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The New York Stock Exchange said on Wednesday it will delist three Chinese telecom companies, confirming its latest reversal on the matter a day after U.S. Treasury Secretary Steve Mnuchin told the NYSE chief he disagreed with an earlier decision to reverse the delistings.

The latest move, which is effective Jan. 11, marks the third time in less than a week the Big Board has ruled on the matter. The flip-flopping highlights the confusion over which firms were included in an executive order issued by President Donald Trump in November barring U.S. persons from investing in publicly traded companies Washington deems to be tied to the Chinese military.


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U.S. President Donald Trump on Tuesday signed an executive order banning transactions with eight Chinese software applications, including Ant Group’s Alipay, the White House said, escalating tensions with Beijing before President-elect Joe Biden takes office this month.

The order, first reported by Reuters, tasks the Commerce Department with defining which transactions will be banned under the directive and targets Tencent Holdings Ltd’s QQ Wallet and WeChat Pay as well.


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U.S. jeweler Tiffany & Co said it reported record sales for the 2020 holiday period as consumers stuck at home shopped more online and shoppers in China spent more on jewelry.

The company, which will soon be bought by France’s LVMH , said its overall preliminary net sales rose about 2% for the period Nov. 1 through Dec. 31, compared with a year earlier, with e-commerce sales surging more than 80% during the period.

The 2020 holiday season was unusual as the virus outbreak upended shopping patterns, with more consumers avoiding malls and retail stores and opting to shop online.


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The New York Stock Exchange said it no longer intends to delist three Chinese telecom giants that have been targeted by U.S. President Donald Trump’s outgoing administration, in a shock reversal of an announcement made only last week.

The exchange said in a statement it had made the decision “in light of further consultation with relevant regulatory authorities.”

It had said on Thursday it would delist China Mobile Ltd, China Telecom Corp Ltd and China Unicom Hong Kong Ltd following U.S. government moves to block investment in 35 firms deemed to be owned or controlled by the Chinese military.


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China will take “necessary measures” to safeguard the interests of its companies after the New York Stock Exchange began delisting three Chinese telecom firms that Washington says have military ties, the country’s commerce ministry said on Saturday.

The NYSE said on Thursday that it would delist China Mobile, China Unicom and China Telecom following President Donald Trump’s move in November to bar U.S. investment in 31 firms that Washington says...


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Tesla Inc on Saturday reported better-than-expected 2020 vehicle deliveries, driven by a steady rise in electric vehicle adoption, but narrowly missed its ambitious full-year goal during a punishing year for the global auto industry.

The company delivered 499,550 vehicles during 2020, above Wall Street estimates of 481,261 vehicles, according to Refinitiv data - but 450 units shy of CEO Elon Musk’s target.

Musk tweeted that he was "proud of ...


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The pandemic aid and spending package signed by U.S. President Donald Trump last Sunday includes more than $800 million to fund rare earths and strategic minerals research, spending that mining companies say will help counteract China’s dominance over the sector.

The $2.3 trillion, 5,593-page bill essentially codifies Trump’s executive orders on rare earths, a group of 17 minerals used to make magnets for electric vehicles, other green technologies and weapons.


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China’s Sichuan Yahua Industrial Group Co Ltd said on Tuesday it had signed a deal to supply battery-grade lithium hydroxide to U.S. electric vehicle (EV) manufacturer Tesla Inc for the next five years.

Yahua, which is based in southwest China’s Sichuan province, put the total value of the contract, signed by its wholly-owned subsidiary Yaan Lithium, at $630-$880 million over 2021-25, a Shenzhen Stock Exchange filing showed.

Analysts at Daiwa Capital Markets said that value translated into a total lithium hydroxide procurement amount of 63,000-88,000 metric tons, or 12,600-17,600 metric tons per annum.


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China expressed anger on Monday after U.S. President Donald Trump signed into law measures to further bolster support for Taiwan and Tibet, which had been included in a $2.3 trillion pandemic aid and spending package.

China has watched with growing alarm as the United States has stepped up its backing for Chinese-claimed Taiwan and its criticism of Beijing’s rule in remote Tibet, further straining a relationship under intense pressure over trade, human rights and other issues.


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Chinese banks are expected to face headwinds raising funds next year as profit-conscious investors cling to the sidelines, expecting a wave of bad loans to hammer the sector and erode already slimming margins.

The sector is ending its worst annual performance in years after putting aside record provisions due to COVID-19 while Beijing urged banks to sacrifice profits to help the economy.

Next year as lenders end pandemic-related loan forbearance - which let borrowers suspend repayments or pay less in interest - banks must bolster their capital against loans previously not classified as nonperforming.