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On January 2nd, Barclays maintained its forecast of a Federal Reserve rate cut in 2026. In a report, the banks US economists stated that the Fed is expected to cut rates twice in 2026, each time by 25 basis points, in March and June respectively. They believe that the risk of delaying rate cuts is greater compared to this baseline scenario. Information from the Feds December policy meeting minutes aligns with Barclays expectations, namely that the January meeting may hold rates steady, with economists noting that "the Federal Open Market Committee needs time to assess the impact of recent rate cuts."On January 2nd, Louis Navellier & Associates, Chief Investment Officer, stated in a report that the Federal Reserve will cut interest rates four more times in 2026 to bring the level down to the neutral point. He pointed out that weakening home prices are exacerbating deflationary concerns, a problem the Fed needs to address. He stated, "Furthermore, given that the US economy hasnt created many jobs, theres no reason for the Fed to maintain a tight stance." Navellier also noted that if deflationary pressures intensify further, more rate cuts may be necessary.The Hang Seng Tech Index in Hong Kong continued its upward trend in the afternoon, rising more than 4%, while the Hang Seng Index rose 2.65%. Stocks in sectors such as power equipment, domestic retail, gaming software, semiconductors, and military industry took turns to rise.On January 2nd, Changan Automobile announced that its sales volume in 2025 will reach 2.913 million vehicles, a year-on-year increase of 8.5%, setting a new high in nearly nine years. Among them, sales of new energy vehicles will reach 1.109 million vehicles, a year-on-year increase of 51%.Hong Kong-listed tech stocks continued their upward trend in the afternoon, with Baidu (09888.HK) rising over 8.6%, NetEase (09999.HK) rising over 6%, Trip.com (09961.HK) and Alibaba (09988.HK) rising over 4%, and Tencent Holdings (00700.HK), Kuaishou (01024.HK), and JD.com (09618.HK) rising over 3%.

UK Government: Cryptoassets Could Be Seized to Stop Crime

Cameron Murphy

Apr 28, 2022 09:42


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The British government suggested on Thursday that crypto assets might be confiscated to help battle economic crime, but the plan fell short of the drastic change demanded by legislators, who want an unified crime-fighting agency.


Scams involving banking and the internet have increased dramatically in the United Kingdom, especially after the COVID-19 outbreak.


In response to a parliamentary investigation into economic crime, the administration said that it would introduce laws to allow cryptoassets to be confiscated and recovered more rapidly as soon as legislative time permits.


"In particular, (we propose) the development of a civil forfeiture authority to limit the danger presented by people who cannot be punished but use their wealth to continue crime," the government told the Treasury Select Committee in parliament.


The panel proposed creating a single organization to combat economic crime to replace a "bewildering" multitude of institutions, but the administration insisted that its multi-agency system was the best.


"It allows us to discriminate between various sorts of criminality," the government stated, adding that public-sector fraud required a different reaction than schemes perpetrated by individuals or corporations.


In a statement, TSC Chair Mel Stride stated, "This might be a big squandered opportunity."


The government has already endorsed a suggestion that requires internet platforms like as Google and Facebook to take aggressive steps to combat fraudulent financial product advertising, but the law will take time to adopt and execute.


"Now is the time for online platforms to step up and take down these fake ads," Stride added.


Google has already pledged to only accept financial advertisements from organizations that are authorized by the Financial Conduct Authority, and Facebook owner Meta is expected to follow suit later this year.


The investigation advised that internet platforms be required to assist clients who have been scammed, a measure that the government is considering.


"We're working together with technology firms, law enforcement, and civil society partners to investigate all options for assisting victims of online fraud and mitigating the damage they've suffered," the government stated.

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