Global 

Donald Trump accuses China of ‘letting us down’ by not keeping G20 promise to buy US farm goods

US President Donald Trump is accusing China of “letting us down” by not promptly buying more US farm products.“They have not been buying the agricultural products from our great Farmers that they said they would,” the president said on Twitter. “Hopefully, they will start soon.”After meeting with Chinese President Xi Jinping late last month, Trump said China had agreed to buy more US agricultural products as part of a ceasefire in the two countries’ trade war.The truce suspended US plans to… Source link

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Home 

China’s oldest brokerage Shenwan Hongyuan accuses cornerstone investor of defaulting on share payments in Hong Kong’s biggest IPO of 2019

China’s oldest securities firm Shenwan Hongyuan has named and shamed one of its cornerstone investor for failing to pay for stock subscriptions made during its recent initial public offering (IPO) in Hong Kong.The brokerage said China Saite, a construction services firm, had defaulted on payments for almost 65 million shares during its US$1.16 billion IPO, the biggest in Hong Kong so far this year. It said it was considering legal action against the company.China Saite agreed to buy 64,193,600… Source link

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China 

China accuses US of threatening World Trade Organisation’s future as trade war heats up

China said on Monday that US policies are threatening the existence of the World Trade Organisation, setting out a string of grievances in a WTO “reform proposal” published by the WTO on its website.Since entering office, Donald Trump has taken a tough line on the WTO, accusing it of unfairly penalising US trade while being soft on China, which had a far smaller economy when it joined the WTO in 2001.The US President has threatened US withdrawal unless the WTO can “shape up” and has blocked… Source link

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Ecommerce 

JD.com describes lawsuit as ‘meritless’ after Minnesota student accuses Richard Liu of rape in US

JD.com said it will defend itself vigorously after a University of Minnesota student accused Richard Liu, the billionaire founder and CEO of China’s second biggest e-commerce company, of rape in a lawsuit filed in Minneapolis on Tuesday, four months after prosecutors declined to pursue a criminal case.The lawsuit, which JD’s lawyers described as meritless, also names JD.com as a defendant and seeks more than US$50,000 in damages. The student, Liu Jingyao, is identified in the complaint as a… Source link

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Terry Gou accuses Microsoft of ‘scapegoating’ iPhone assembler Hon Hai, bullying Taiwanese companies and taking advantage of US-China trade war

Billionaire Terry Gou accused Microsoft of being a coward and a bully after the US software giant took legal action against consumer electronics manufacturer Hon Hai for allegedly failing to comply with a patent-licensing agreement. Microsoft on Friday sued the Taiwanese company, which assembles iPhones for Apple, in California for failing to make royalty payments on time. Gou, who is chairman of Hon Hai, held a press briefing in Taipei on Tuesday, railed at the US tech giant, now… Source link

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Huawei accuses US agents of hacking into its servers as it launches lawsuit against federal ban on gear

Huawei Technologies, which on Thursday slapped the US government with a lawsuit in a bid to overturn a federal ban on its gear, also accused the US of previously hacking into its servers though it provided no fresh evidence to support the charge.“The US government has long branded Huawei a threat. It has hacked our servers and stolen our emails and source code,” Guo Ping, Huawei’s rotating chairman, said in a press conference in Shenzhen on Thursday to announce the lawsuit against the US.Guo… Source link

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Money 

Chinese painter Ye Yongqing ‘deeply influenced’ by Belgian artist who accuses him of copying

Respected Chinese painter Ye Yongqing says he is trying to get in touch with a Belgian artist who has accused him of copying works he did three decades ago.Christian Silvain, a 69-year-old painter and sculptor based in Kluisbergen, has claimed Ye copied several of his paintings – and that one of the alleged copies sold for 100 times more than the original.So far, 61-year-old Ye – an oil painter whose buyers are said to include Bill Gates and Rupert Murdoch – has not denied the accusation made… Source link

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Singapore 

Passenger accuses Go-Jek driver of kidnapping her after she refuses to pay for ERP, Singapore News

A woman was caught on video kicking up a fuss and accusing a private hire driver of “kidnapping” her and “holding her hostage” while he was driving her to a police station because she refused to pay for Electronic Road Pricing (ERP) charges. Several Stompers alerted Stomp to the video uploaded by Go-Jek driver Kamaruzzaman Bin Abdul Latiff on Go-Jek Singapore Community’s Facebook page which has since garnered over 28,000 shares. Kamaruzzaman told Stomp the incident happened on Tuesday (Jan 29). He had picked the woman up at Bishan at…

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Home 

US accuses Chinese trader of orchestrating a US$60 million fraud through futures spoofing

Three commodities traders were charged by the US Justice Department with orchestrating a US$60 million fraud that involved spoofing and conspiring to manipulate futures contracts, according to prosecutors and court filings in Houston. Yuchun “Bruce” Mao, a 39-year-old Chinese national, is accused of working with two other traders at his firm in a scheme to rig the purchase and sale of futures contracts on the Chicago Mercantile Exchange and the Chicago Board of Trade, according to an indictment made public on Friday. US high-frequency trader faces jail term for spoofing…

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Money 

Donald Trump accuses China and EU of illegal currency manipulation

US President Donald Trump on Friday launched a fresh attack on American trading partners, saying the EU and China were manipulating their currencies, and he threatened to hit all imports from China with high tariffs. The comments also signalled an undiminished appetite for battle on multiple fronts after a week dominated by coverage of the fallout from his dealings with Russian President Vladimir Putin. The harsh comments took fresh aim at pillars of the international economic system and underscored Trump’s break with long-established norms by again openly rebuking the Federal…

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