TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans. "Rest assured - we aren't going anywhere," CEO Shou Zi Chew said in a video posted moments after Biden signed the bill that gives China-based ByteDance 270 days to divest Tiktok's U.S. assets or face a ban. In 2020, then-President Donald Trump was blocked by the courts in his bid to ban TikTok and Chinese-owned WeChat, a unit of Tencent, in the United States.
Brazil's central bank director Gabriel Galipolo said on Wednesday that the monetary authority should not get spooked with "short-term" market fluctuations and will need time to understand how recent moves affect its mandates. Emerging market currencies, including Brazil's real, have slumped in recent days as the dollar soared on rising geopolitical tensions and fading hopes of an interest rate cut by the U.S. Federal Reserve. Galipolo acknowledged that countries that started lowering rates early as inflation receded, such as Brazil, were among the most hit by the recent repricing of the U.S. yield curve and the strengthening of the greenback.
Euro zone government bond yields rose on Wednesday as markets digested data that showed business activity has been a lot stronger than expected this month, which might take some pressure off the European Central Bank to cut interest rates beyond June. The ECB has all but promised a rate cut in June, but its policymakers are still debating what happens after that. Bundesbank President Joachim Nagel, a key ECB policymaker, on Wednesday said euro zone inflation could prove stubborn and a rate cut in June might not necessarily be followed by more cuts.
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|