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On May 21, the China-France Working Group on Climate and Environmental Challenges held its first meeting in Beijing, China, on May 20, 2026. The meeting was jointly led by the Chinese Ministry of Foreign Affairs and the French Ministry of European Affairs and Foreign Ministry, with participation from eight relevant Chinese ministries. The French Ministry of Ecological Transition, Biodiversity and International Negotiations on Climate and Nature participated as the French co-lead unit of the working group. The working group serves as a new and important dialogue platform between China and France in the field of climate and environment. The two sides exchanged in-depth views on key issues in the climate and environment field, including global climate governance, the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change and the Second Global Inventory, climate mitigation and energy transition, climate adaptation, biodiversity, land degradation and forests, pollution, water and oceans, territorial spatial planning and ecological protection and restoration, and climate, biodiversity, and environmental finance.U.S. EIA natural gas inventories for the week ending May 15 were 101 billion cubic feet, compared to an expected 96 billion cubic feet and a previous reading of 85 billion cubic feet.Mexican President Simbaum: I will meet with Homeland Security Minister Mourin in Mexico today.The U.S. EIA natural gas storage figures for the week ending May 15 will be released in ten minutes.On May 21st, driven by AI optimism and strong earnings reports, both the S&P 500 and Nasdaq hit record highs. However, this rally lacked breadth, with most gains coming from large-cap tech stocks. UBS analysts pointed out that in the six weeks ending May 15th, the market capitalization-weighted S&P 500 outperformed the equally weighted S&P 500 by the largest margin in at least 35 years. Given that much of the market value growth was driven by large-cap AI tech stocks, UBS advised investors to reduce overly concentrated positions and guard against the risks of concentrated holdings. UBS also stated that as earnings season nears its end and market focus shifts back to the unresolved Middle East situation, the market may enter a period of respite. Swissquote Senior Market Analyst Ipek Ozkardeskaya said she has been monitoring the market breadth issue, noting that most of the gains are currently concentrated in a few tech companies "priced in with perfect expectations." "If anything goes wrong with their pricing logic, we could see a bubble-like crash."

Crypto lender Voyager Digital gets approval to return $270 million to customers

Alice Wang

Aug 05, 2022 15:16

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Voyager Digital Holdings Inc., a cryptocurrency company, has been granted permission by the U.S. Bankruptcy Court in New York to restore $270 million in client funds, the Wall Street Journal reported on Thursday.


Voyager Digital Holdings Inc., a cryptocurrency company, has been granted permission by the US Bankruptcy Court in New York to restore $270 million in client funds, the Wall Street Journal reported on Thursday.


According to the Journal, Judge Michael Wiles, who is in charge of Voyager's bankruptcy, said the firm had "sufficient grounds" to back up its claim that clients should be given access to the custodial account kept at Metropolitan Commercial Bank.


The business did not immediately respond to requests for comment.


Voyager, one of several businesses that struggled after the widespread turbulence on the cryptocurrency market, filed for Chapter 11 last month.


Voyager reported that it had between $1 billion and $10 billion in assets and liabilities, as well as over 100,000 creditors, in its bankruptcy case.


The Federal Reserve and the Federal Deposit Insurance Corp (FDIC) issued an injunction to the firm last week directing it to stop making "false and misleading" promises about the government's protection of its clients' cash.


The firm only had a bank account at Metropolitan Commercial Bank, according to the authorities, and none of the investors using its platform were covered by the FDIC.


During the COVID-19 epidemic, cryptocurrency lenders like Voyager saw a surge in business, luring depositors with high interest rates and convenient access to loans that conventional banks seldom ever gave. Lenders have suffered from the recent decline in cryptocurrency markets, which was brought on by the failure of two significant tokens in May.

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