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April 7th - According to China Railway Shanghai Bureau Group Co., Ltd., during the recent Qingming Festival holiday (April 4th to 6th), the Yangtze River Delta railway system transported approximately 12.428 million passengers, averaging 4.143 million passengers per day. This represents an increase of approximately 1.252 million passengers compared to the same period last year, exceeding 11%. Notably, April 4th saw a record high of 4.66 million passengers transported in a single day.April 7th - According to Axios, a US official stated that Irans response was "tough," but the White House views it as a negotiating tactic rather than a rejection. They are currently communicating with the Iranians regarding amendments and redrafting. If Trump believes a deal is possible, he may postpone military action against Iran. Trumps advisors told mediators that the president needs to see positive signs from Iran before considering a delay. One of them said, "We are at a critical moment in negotiations; anything can happen." Two sources indicated that a large-scale US-Israeli bombing plan targeting Iranian energy facilities is ready should Trump issue the order.On April 7th, Michael Wan, senior foreign exchange analyst at MUFG Bank, stated in a research report that shipping volumes through the Strait of Hormuz may be improving. Tankers currently appear to be testing an alternative route that runs close to southern Oman to exit the strait. Furthermore, the analyst stated, "Iran announced last weekend that it would allow Iraq to ship oil through the strait." He added that this could mean an additional 3 million barrels of oil per day entering the market, but "many unknowns" remain regarding how Iran defines "Iraqi oil."On April 7th, Jike Auto announced that the Jike 8X will officially launch at a press conference in Ningbo, China on April 17th at 19:00. At the event, the official price of the Jike 8X will be announced, and pre-sale benefits will end before the price announcement that evening. The Jike 8X will be available in select models and will be delivered immediately upon launch.LG Electronics expects its operating profit for the first quarter to be 1.674 trillion won, up from 1.259 trillion won in the same period last year.

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.

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