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Cathay Pacific (00293.HK): Postponed the resumption of passenger and cargo services to and from the Middle East.July 17th - According to the Ministry of Finance, the battery consumption tax policy will be adjusted in stages starting September 1, 2026. According to a recent announcement by the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration, consumption tax preferences for lithium primary batteries, lithium-ion batteries, and photovoltaic cells will be gradually phased out; meanwhile, some new technology battery products will enjoy consumption tax exemption for a certain period. Industry insiders say that overall, this policy adjustment is in line with the changing development of my countrys battery industry, will better leverage the regulatory role of consumption tax, promote resource conservation and environmental protection, and will promote the healthy and high-quality development of the battery industry, driving technological progress and industrial upgrading.On July 17th, Francesco Pesole of ING Group stated in a report that investors expectations for a Bank of England interest rate hike appear overly aggressive. The market has already priced in a total of 36 basis points of rate hikes by the Bank of England in 2026. However, ING expects the Bank of England to maintain its interest rate at 3.75% throughout 2026. Pesole stated, "We still believe there are significant downside risks to short-term sterling interest rates."The VIX fear index hit a more than one-week high, ultimately rising 1.7 points to 18.44.The onshore yuan closed at 6.7773 against the US dollar at 16:30 on July 17, down 95 points from the previous trading day.

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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