Economy & Finance

Economy, finance, markets, luxury and geopolitics — macro signals that influence the art market and collecting.

Most recent stories

Binance Affiliates Sue RedotPay Founders for $473 Million Over Alleged User Diversion economy-finance
Companies linked to Binance, such as Nest Trading, DistributedTechnologies, and Chaintecs Consulting Singapore, have filed a lawsuit against RedotPay and its co-founders, alleging…
Argentina Renews $19B China Currency Swap Until 2031, Defying US Pressure economy-finance
On Wednesday, Argentina's central bank and the People's Bank of China (PBOC) finalized an extension of their currency swap agreement worth 130 billion yuan (approximately US$19…
China's Economic Slowdown Hits Camera Industry Hard economy-finance
The global camera industry is feeling the effects of China's economic downturn, characterized by declining consumer expenditure and elevated youth unemployment. The New York Times…
Nikon Cuts Camera and Lens Sales Projections Amid Slow Start to the Fiscal Year economy-finance
Nikon has adjusted its sales forecasts for interchangeable-lens cameras and lenses for the fiscal year 2027, mainly due to weaker demand in China and rising memory costs. In the…
Victory Giant to Invest $444M in New AI Circuit Plant in Huizhou economy-finance
Chinese PCB maker Victory Giant Technology is investing at least US$444 million in a new plant in Huizhou, Guangdong, to meet surging demand for AI-related electronic circuits.…
David Ellison Defends Paramount-Warner Merger in NYT Op-Ed economy-finance
In an opinion article published on August 4, 2026, in The New York Times, David Ellison, the CEO of Skydance and Paramount Global, advocated for the merger between Paramount and…
Paramount-Warner Bros. Merger Antitrust Trial Set for March 2027 economy-finance
A U.S. federal judge has scheduled an antitrust trial for March 2, 2027, to examine Paramount's proposed $81 billion acquisition of Warner Bros. Discovery. The trial, set by U.S.…
Chinese Optical-Module Stocks Rebound as Analysts Downplay US AI Curbs economy-finance
On Wednesday, shares of top optical-module manufacturers in China rebounded from earlier declines as analysts minimized the potential effects of suggested US restrictions that…
Mastercard Completes $1.8B BVNK Acquisition to Expand Stablecoin Payment Infrastructure economy-finance
Mastercard has purchased BVNK, a stablecoin infrastructure provider based in London, for as much as $1.8 billion, which includes a $300 million earnout. This acquisition, revealed…
US and Japan Coordinate Yen Intervention, Raising Carry Trade Unwind Fears economy-finance
On Friday, a rare joint intervention to buy yen was executed by the US Treasury and the Bank of Japan, which involved selling euros to finance these purchases. Treasury Secretary…
SpaceX Earnings and Share Unlock Could Sway Hong Kong, Mainland China Stocks as AI Trade Recovers economy-finance
SpaceX, the aerospace firm founded by Elon Musk, is about to undergo examination as it approaches the release of its quarterly earnings and the unlocking of shares, which will…
AMEC First-Half Profit to Nearly Quadruple on Soaring Demand economy-finance
Advanced Micro-Fabrication Equipment China (AMEC) revealed that its preliminary profit for the first half of the year is set to increase nearly fourfold, fueled by robust domestic…
Capital One Says Trump Accounts Closed in 2021 Over Money-Laundering Concerns economy-finance
Capital One has disclosed in a court filing that it closed bank accounts held by US President Donald Trump in 2021 after flagging financial activity that had characteristics of…
Iran War Could Alter Beijing's Policy Calculus, Economist Says economy-finance
Mao Zhenhua, a professor at the University of Hong Kong's Business School and co-director of Renmin University's Institute of Economic Research, remarked that the US-Israel war's…
Wuxi AppTec First-Half Profit Surges 33.7% on Weight-Loss Drug Demand economy-finance
Wuxi AppTec, Asia's largest contract pharmaceutical research provider, reported a 33.7% increase in interim net profit attributable to owners, reaching 11.08 billion yuan (US$1.64…
Chinese Families Shift from Real Estate to Portfolios; Malaysian PM's Strategy: Weekend Reads economy-finance
A weekend roundup from the South China Morning Post highlights five stories, including a significant shift in Chinese investment behavior. Chinese families are increasingly…
Changchun Party Chief Breaks Tradition with Warning on Economic Challenges economy-finance
In a rare departure from the norm of reporting only positive news, Zhang Enhui, the party chief of Changchun, publicly warned of 'unprecedented difficulties and challenges' facing…
Tether Reports $1.5B Q2 Operating Profit as Treasury Income Offsets Crypto Declines economy-finance
Tether, the company behind the leading stablecoin USDT, announced a net operating profit of $1.5 billion for the second quarter of 2026, primarily due to its U.S. Treasury…
Strategy Reports $8.2B Q2 Loss on Bitcoin Markdown, Expands Treasury economy-finance
In Q2 2026, Strategy (NASDAQ: MSTR) experienced a net loss of $8.22 billion, largely attributed to an $8.32 billion fair-value reduction on its Bitcoin assets, as mandated by…
Universal Music Group Reports Strong Q2 Revenue Growth economy-finance
Universal Music Group (UMG) reported impressive financial results for the second quarter, with revenues hitting €3.294 billion ($3.795 billion), marking a 10.5% year-over-year…
AI Hedge Fund's 67% July Plunge Sparks Leverage Warnings from Chinese Investors economy-finance
The collapse of Situational Awareness, a US hedge fund heavily invested in the AI supply chain, has triggered warnings from Chinese investors about the dangers of leverage and…
China's exports fuel Global South industrialization, not suppress it economy-finance
Contrary to Western narratives that China's exports are crushing developing economies, empirical evidence shows China is enabling Global South industrialization. From 2018 to…
US Defense Secretary Requests $65 Billion for Iran Conflict economy-finance
US Defense Secretary Pete Hegseth has requested an additional $65 billion from Congress to fund military operations against Iran, revealing the escalating costs of the conflict.…
US robot import ban threatens Chinese smart vacuum dominance economy-finance
Washington's expanded trade crackdown on foreign robots now targets Chinese smart vacuums, which dominate the US market. The FCC ban covers devices with locomotion, obstacle…
US GDP growth slows to 1.5% in Q2, consumer spending surges economy-finance
The US economy grew at a 1.5% annualized rate in the second quarter, down from 2.1% in Q1, according to the Commerce Department's Bureau of Economic Analysis. The slowdown was…
Decoupling from China requires $23.6 trillion investment, EY-Parthenon says economy-finance
According to a recent study by EY-Parthenon, the United States, European Union, and United Kingdom must collectively invest roughly $23.6 trillion over the next quarter-century to…
Ant Group spin-offs accelerate capital-raising for independent growth economy-finance
Ant Group's three spin-off units—Ant Digital Technologies, OceanBase, and Ant International—are accelerating capital-raising efforts after gaining operational autonomy in 2024.…
US-listed Chinese stocks rise as Fed uncertainty drives rotation from AI economy-finance
US-listed Chinese stocks are benefiting from a rotation away from US equities and bonds amid confusion over the Federal Reserve's policy path. The Nasdaq Golden Dragon China…
Cuba reports 73% of hotels closed as tourism collapses economy-finance
Cuban Prime Minister Manuel Marrero announced on Wednesday that nearly three-quarters of the island's hotels have been shut, with the tourism sector experiencing "almost total…
Brazil tops global Chinese car imports with 147% surge economy-finance
According to Chinese customs data, Brazil has emerged as the leading global importer of Chinese automobiles, with a remarkable 147% increase in imports to US$5.2 billion during…
Fed holds rates steady despite three dissents for hike economy-finance
The Federal Reserve decided to keep its main interest rate steady at 3.5%-3.75%, with a vote of 9-3. Three presidents from regional banks—Beth Hammack from Cleveland, Neel…
US sanctions Chinese and Hong Kong shipping firms over Iranian oil deliveries economy-finance
On Wednesday, the US put sanctions on eight shipping companies based in mainland China and Hong Kong due to their role in moving Iranian crude oil and petrochemicals to China and…
Billionaire Donors Reshape US Art Institutions Amid Second Gilded Age economy-finance
As a new Gilded Age unfolds, American arts institutions are experiencing a remarkable influx of nine-figure donations from recently wealthy individuals. In the US, government…
China's CXMT advances disrupt Nvidia, Micron, SK Hynix shares economy-finance
China's growing semiconductor capabilities are shaking global AI and tech stocks. Advances in chips, chipmaking equipment, and AI models from Chinese firms threaten the market…
Chinese MLCC stocks surge on AI-driven demand for electronic 'rice' economy-finance
Shares of Chinese multilayer ceramic capacitor (MLCC) manufacturers have soared following explosive first-half earnings, driven by insatiable global demand for artificial…
Zhongji's $1.2B Buy-Back Ahead of Hong Kong IPO economy-finance
Optical-module maker Zhongji announced a US$1.2 billion buy-back of its yuan-denominated shares just before its Hong Kong IPO, aiming to stabilize pricing. The buy-back follows a…
South Korea-Mercosur trade talks stalled since 2021 amid Brazilian industrial concerns economy-finance
Trade negotiations between South Korea and Mercosur, which began in 2018, have been on hold since late 2021, primarily because Brazil fears that a rise in Korean imports might…
Coinbase Pushes for Clearer Canadian Crypto Rules to Launch 'Everything Exchange' economy-finance
Coinbase is set to launch a comprehensive digital finance platform in Canada, named the 'Everything Exchange,' which will feature cryptocurrencies, tokenized stocks, derivatives,…
Lenovo Capital's 'sniper' AI strategy targets robotics and coding agents economy-finance
Lenovo Capital, the investment branch of the Chinese technology leader Lenovo, is implementing a precise 'sniper' investment approach centered on artificial intelligence,…
Strategy pauses Bitcoin buys for 35 days, builds $3.75B cash reserve economy-finance
Strategy, the largest corporate Bitcoin holder, has gone 35 consecutive days without a purchase—its longest drought in two years. As of July 26, the company held 843,775 BTC…

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