QtrendsChina tightens cross-border investment oversight, expands offshore yuan
Beijing has ordered brokerages to halt expansion of offshore-linked total return swap portfolios, closing another loophole used to circumvent capital controls. Hong Kong is simultaneously advancing offshore yuan initiatives to strengthen its role as a global financial hub. In a separate development, China detained two Japanese nationals over an alleged export control violation, adding friction to bilateral relations.
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A decade after the 2016 referendum, major media outlets across the political spectrum agree on Brexit's significant economic costs to Britain. UK stocks have underperformed global peers, with analysts describing a 'lost decade' for British equities. The economic drag continues to weigh on the UK's post-Brexit trade relationships and long-term growth prospects.
CNN examines why Britain has struggled to retain prime ministers in recent years, pointing to the economy as the root cause. As the UK faces its next general election, the BBC outlines the daunting economic challenges awaiting the incoming government. Speculation is also growing over who might serve as the next chancellor of the exchequer.
The Strait of Hormuz faces an unusual problem: 150,000 square feet of barnacles and marine growth are clogging critical infrastructure in the waterway. CNBC reports that Donald Trump has claimed Iran assured the US it will not impose tolls on the strait. Meanwhile, AP News notes that while more ships are navigating the strait, its long-term stability remains uncertain amid geopolitical tensions.