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On January 29th, Jiangfeng Electronics announced its plan to acquire control of Beijing Kaide Quartz Co., Ltd. for cash. Upon completion of the transaction, Jiangfeng Electronics will become the controlling shareholder of Kaide Quartz, and Kaide Quartz will become a controlling subsidiary of Jiangfeng Electronics. This transaction is not expected to constitute a major asset restructuring as defined in the "Measures for the Administration of Major Asset Restructuring of Listed Companies." Trading of the companys shares will be suspended from the opening of the market on January 30, 2026 (Friday), with the suspension expected to last no more than five trading days.On January 29th, Zhongman Petroleum issued an announcement stating that the companys stock price had deviated by more than 20% cumulatively over the two consecutive trading days of January 28th and 29th, indicating significant stock price volatility. Investors are advised to be aware of the risks of secondary market trading and invest rationally. Recently, the international crude oil market has been affected by multiple factors, including fluctuating geopolitical situations and supply and demand dynamics, resulting in wide price fluctuations. Short-term oil price volatility remains highly uncertain; investors are advised to be aware of the risks.January 29th - Barclays analysts stated that Glencores fourth-quarter production report exceeded expectations. The commodities mining and trading companys production of copper, cobalt, zinc, coking coal, and thermal coal all surpassed analysts expectations. They noted that the decline in cobalt production reflected the companys proactive planning to prioritize copper production.H&M CEO: If shipping companies return to the Red Sea, it will improve delivery cycles and help us respond to market changes more quickly and flexibly.According to RIA Novosti: Russian troops have taken control of Bila Bereza in Sumy Oblast, Ukraine.

U.S. Senate to hold FTX hearing on Dec. 1, CFTC chairman to testify

Cory Russell

Nov 22, 2022 15:35

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The U.S. Senate Agriculture Committee on Thursday said it will hold a hearing on Dec. 1 to examine the sudden collapse of FTX, one of the world’s biggest crypto exchanges.


FTX filed for bankruptcy on Nov. 11, leaving an estimated 1 million customers and other investors facing billions of dollars in total losses. The firm’s failure has created a liquidity crunch that has rippled across the industry and sent the prices of bitcoin and other digital assets plummeting.


Rostin Behnam, the chairman of the Commodity Futures Trading Commission, is the first witness named for the hearing, titled, “Why Congress Needs to Act: Lessons Learned from the FTX Collapse.”


U.S. Senate Agriculture Committee Chair Debbie Stabenow also on Thursday called on Congress to pass the bipartisan Digital Commodities Consumer Protection Act, which she said, “would have prohibited the misconduct and risky behavior undertaken by FTX.”


The U.S. House Financial Services Committee has also said it plans to hold a hearing in December to investigate FTX’s collapse.


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