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August 19th - Tesla has released a large-scale model of a steamed bun. It is reported that the Tesla infotainment system is now gradually rolling out this feature.Argus Research: Raises its target price for ConocoPhillips (COP.N) from $136 to $153.On August 19, the Ministry of Justice responded to a reporters question regarding the EUs foreign subsidy investigation, stating that the EUs recent investigation into JD.com, using its Foreign Subsidies Regulation, arbitrarily demanded extensive and unnecessary information about China from the Chinese entity. This constitutes an undue demand on the entity and a serious violation of international rule of law. To safeguard national sovereignty, security, and development interests, and to protect the legitimate rights and interests of Chinese citizens, legal persons, and other organizations, the Ministry of Justice, in accordance with the Regulations of the Peoples Republic of China on Anti-Unfair Extraterritorial Jurisdiction, together with the Ministry of Commerce and other relevant departments, has identified and determined that the EUs actions constitute unfair extraterritorial jurisdiction measures, and demands that no organization or individual implement or assist in the implementation of such measures. The Ministry of Justice hopes the EU will immediately correct its erroneous practices, cease abusing the "foreign subsidy" investigation tool, and create a fair, just, and predictable market environment for companies investing and operating in the EU. If the EU persists in its unilateral actions, China will resolutely retaliate in accordance with the law.Market news: During a meeting with Iranian Parliament Speaker Qalibaf, the Speaker of the Iraqi Parliament called for special status for Iraqs oil exports via the Strait of Hormuz.On August 19, the Ministry of Justice issued an announcement regarding the EUs foreign subsidy investigation practices constituting undue extraterritorial jurisdiction. According to Articles 3 and 6 of the "Regulations of the Peoples Republic of China on Combating Undue Extraterritorial Jurisdiction," the Ministry of Justice, in conjunction with the Ministry of Commerce and other relevant departments, determined that the EUs cross-border investigation practices against Chinese entities in its investigation of JD.com, utilizing its Foreign Subsidies Regulation, constituted undue extraterritorial jurisdiction measures. No organization or individual may implement or assist in the implementation of such undue extraterritorial jurisdiction measures. This announcement is effective from the date of its publication.

The Australian Authority Suspends Orders For Two Permanent Investment Funds

Charlie Brooks

Nov 25, 2022 14:27

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Friday, the Australian securities regulator ordered a unit of asset management firm Perpetual Ltd to temporarily halt promoting or delivering two products to individual investors due to elevated market risks.


Perpetual is aiming to conclude a deal with EQT-owned Barings Private Equity Asia (BPEA) and Regal Partners, while being compelled by the court to launch its own takeover proposal for rival Pendal Group.


The Australian Securities & Investments Commission (ASIC) has ordered Perpetual Investment Management's Perpetual Pure Microcap Fund and Perpetual Geared Australian Share Fund to halt distributing interest and giving advice to retail investors for 21 days.


According to the regulator, the portfolios of the funds are exposed to extreme market volatility and carry substantial risks, increasing the potential that investors would sustain enormous losses.


"ASIC issued the interim measures to protect retail investors from engaging in funds that may not be appropriate for their financial objectives, circumstances, or needs," the regulator noted.


"The Australian Securities and Investments Commission is concerned that Perpetual did not appropriately consider these features and risks when choosing the wide target markets for the products."


The government expects Perpetual to take "immediate measures" to ensure compliance.


Reuters requested a response from Perpetual but did not receive a prompt reply.