FirstFT: Today’s headlines | Financial Times


Good morning.This article is our live version FirstFT Asia communication. Register here Send the newsletter directly to your inbox every working day morning

Joe Biden will use this week’s G7 summit to encourage European allies Take a hard line against Beijing, Because the President of the United States restricted a series of new actions with executive orders to strengthen the review of Chinese software and applications.

At the summit hosted by the United Kingdom, Biden hoped to persuade his colleagues to condemn China’s persecution of Uighurs in Xinjiang, the suppression of Hong Kong’s democratic movement, Economic coercion in Australia and other countriesAnd aggressive military activities in the South China Sea and the East China Sea.

Biden’s latest executive order is aimed at protecting Americans’ personal data, including health and genetic information, which is the culmination of weeks of government pressure on China.

Senate this week Passed a bipartisan bill This will provide 250 billion U.S. dollars to help the United States maintain a competitive advantage over China in key technologies such as artificial intelligence and quantum computing. The Pentagon concluded a three-month review of China’s challenge to the US defense strategy on Wednesday, and concluded that Beijing has become one of its most serious “pacing threats”.

More G7 news:

  • Even with the support of the G7, Joe Biden’s plan to reform the international tax system will face Pass the U.S. Congress hard Because Republicans threatened to vote in the Senate to reject a potential transaction that would require a two-thirds majority to approve.

  • Conservative MPs urge Boris Johnson Support for British companies operating in India At the G7 summit this week, Prime Minister Narendra Modi (Narendra Modi) was warned not to let his country become a “middle ground between democracy and despotism.”

Coronavirus Digest

  • South eruption China Yes Containment activities In some of the world’s largest ports, it has raised concerns about further disruptions in international trade.

  • This we Will purchase 500 million Covid-19 vaccines produced by Pfizer Donate to other countries, Joe Biden will be announced on Thursday.

  • Boris Johnson Checking one “Mix and match” approach Following a surge in confirmed cases, England’s lockdown restrictions will be relaxed on June 21 Delta variant Coronavirus.

  • Developing countries At risk The economy is down again The World Bank warned that if vaccine supply cannot be achieved and global inflation rises.

Follow our live coronavirus blog Here with Sign up For us Coronavirus business update communication.

In the news

Chinese producer prices are rising at the fastest rate in 13 years This China’s ex-factory commodity prices have risen sharply this yearThis puts pressure on policy makers because they have to deal with the impact of rising global commodity prices.

U.S. Securities and Exchange Commission reviews order flow payments America’s top stock market regulator is seeking Change stock trading rules, Including the fees paid by large Wall Street groups to process customer orders. The explosive growth of “memetic stocks” in January highlighted what Gary Gensler, chairman of the US Securities and Exchange Commission, called “inefficient” markets.

Russia declares Alexei Navalny’s organization illegal The Moscow court stated that Navalny’s Anti-Corruption Foundation (FBK) and its national network of political activists should Are classified as “extremists”, A label that categorizes it with Islamic State and Al-Qaida bans his supporters from participating in elections and threatens them to jail for years.

El Salvador adopts Bitcoin as legal tender El Salvador has become The first country to make Bitcoin a legal tender, President Nayib Bukele praised this as a historic step towards financial inclusion and economic growth in this poor Central American country.

American food delivery leader DoorDash launches in Japan The U.S. food delivery app has been launched in Japan, marking the company’s Enter the Asian market for the first time And the latest move by a large delivery group to expand globally to take advantage of the pandemic-driven demand boom.

China’s senior bad debt officer investigating corruption The country is investigating one of the executive officers The largest state-backed corruption of bad debt managers, Six months after a former senior bank official was executed on corruption charges.

Indian tycoons surpass Chinese tech giants on the global rich list India’s industrial giants Mukesh Ambani and Gautam Adani have surpassed China’s Jack Ma and others. Global wealth ranking As the wealth of major billionaires in Asia’s two largest economies diverged.

The bar chart of estimated net worth (US$ billion) shows that Indian industrial giants surpassed Chinese tech giants

the day before

Biden pressured Johnson to end the fierce standoff in Northern Ireland Boris Johnson will be on Thursday Facing pressure from Joe Biden Working with the European Union to end the fierce confrontation over the Northern Ireland settlement, as the post-Brexit negotiations ended in deadlock and threats.

European Central Bank Interest Rate Announcement A series of ECB board members stated that they still see no reason to change policy at today’s meeting.Several policymakers, including the President of the European Central Bank, Christine Lagarde, said that the inflation spike in the euro zone is just Temporary phenomenon.

U.S. inflation data Economists surveyed by Bloomberg expect that data released by the US Department of Labor in May 2018 show that the year-on-year inflation rate in May will jump to 4.7%. Thursday, Compared with 4.2% in April.

Join our “Future of News” event on June 10.Hear the opinions of leaders in the field including the BBC Director General Tim David White House press secretary Jen Psaki, “New York Times” media columnist Ben Smith and more people discussed how top brands ensure that their businesses are future-oriented, fund newsrooms, and attract new audiences.Register today Here.

What are we still reading

The ups and downs of China’s tech industry The new generation of Chinese tech giants Call for an end to poor working conditionsMandatory rankings are just one of many hot spots that have recently attracted scrutiny by large Chinese technology companies, as allegations of overwork, abuse, and injury have become the subject of intense national debate.

Japan, land with rising investment prospects Although deflation and demographic structure have been a drag on the Japanese economy.This The Nikkei Index returns close to 10% One year illustrates the motto that the stock market does not always reflect economic conditions.

Export to China monitoring The use of Chinese technology is one of the backgrounds of the G7 summit, where major democracies will discuss how to deal with Beijing’s global influence. For defenders, these surveillance systems provide huge efficiency gains.But for some experts, they have potential Security and human rights threats.

Facial recognition, tracking technology and license plate recognition can create surveillance networks in smart cities

Facial recognition, tracking technology and license plate recognition can create a surveillance network in a smart city © FT montage

Naftali Bennett pays off for calculating the rise For those who rise with this person who may become Israel’s next prime minister and a friend who has known him for decades, The ability to adapt to different roles -The right-wing standard-bearer, tech millionaire, and suddenly, a voice of unity that divided the country-talked more about Bennett than his inflammatory comments when he reached the summit of Israeli politics.

Strong opposition to Chinese campuses makes Orban pause and think The protests forced Hungarian Prime Minister Victor Orban to back down because of China’s Fudan University project in Budapest. Although Orban has always established a closer relationship with Beijing through his “Open to the East” policy, Eastern Europeans’ attitudes towards China have been cooling for some time. British “Financial Times” European editor Ben Hall wrote. Subscribe to our Europe Express newsletter to get a basic guide on important matters in continental Europe, every working day morning.

Cartoon of the day

U.S. investigation reveals leaked records of billionaires paying very little taxes

Thank you for reading.Please send your suggestions and feedback to [email protected]

Newsletter recommended for you

#techAsia — Your guide to creating and losing billions of dollars in the Asia Tech world.registered Here

Trade secrets — A must-read book on the changing face of international trade and globalization.registered Here



Source link