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The cuts in taxes and fees would be more than 1.1 trillion yuan this year, beating government forecasts, Liu said. On May 1, China cut the value-added tax in the manufacturing, transportation, construction, telecommunication and agricultural sectors. But all that does not mean China will unleash massive stimulus or go back on its campaign to reduce leverage in the economy. “When we’re talking about a more proactive fiscal policy, we aren’t talking about massive stimulus, nor do we want to incur financial risks, let alone getting the government to take care of everything,” Liu said.
MILAN (Reuters) - UniCredit (CRDI.MI) and Societe Generale (SOGN.PA) declined to comment on a report that Italy’s biggest bank was working with a senior Rothschild banker to advise it on a possible merger with the French lender, Rothschild were not immediately available for comment, Italian daily MF said in an unsourced report on Friday that talks between the two banks over a tie-up or acquisition were continuing, It added that university of connecticut huskies cufflinks UniCredit was working with top-flight consultants, including Rothschild’s Daniel Bouton..
Bouton was a former chairman of Societe Generale, resigning in 2009 after a decade at the head of the French bank in the aftermath of a rogue trading scandal the previous year. UniCredit’s Chief Executive Jean Pierre Mustier is also a former manager at Societe Generale and his appointment to the position in 2016 rekindled speculation about the two joining forces. In June, the FT reported that UniCredit was considering merging with its French rival, adding that Italy’s volatile political situation had pushed back the timetable for a deal.
NEW YORK/WASHINGTON (Reuters) - The U.S, Securities and Exchange Commission said on Thursday it will review a decision by its staff to block nine bitcoin-based exchange-traded funds from coming to market, Staff at the SEC on Wednesday rejected applications for new funds from three companies, suggesting they were not yet convinced that the products would not be subject to fraud or manipulation, But the SEC’s four commissioners will university of connecticut huskies cufflinks review those decisions, according to letters the SEC posted on its website..
SEC staff have delegated authority to make a decision on such applications, meaning the commissioners and the SEC chairman have the power to review the decision if they desire. The commissioners had previously voted 3-1 to reject another bitcoin ETF application, with Republican commissioner Hester Peirce dissenting on the basis she felt doing so stifled innovation. The virtual currency can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could attract more investors and push its price higher.
TOKYO university of connecticut huskies cufflinks (Reuters) - Four Toyota Motor Corp (7203.T) group firms will form a joint venture to combine their self-driving technologies to better compete with automotive component giants such as Bosch Group [ROBG.UL], the Nikkei business daily reported on Friday, The new company, to be set up by Denso Corp (6902.T), Aisin Seiki Co (7259.T), Jtekt Corp (6473.T) and Advics, will bring together technologies such as braking and steering, the Nikkei said, Denso is expected to hold the majority stake, The new firm, to be launched by the end of this year, will primarily supply Toyota but also target European, U.S, and Chinese automakers, the Nikkei said..
HONG KONG/SYDNEY (Reuters) - Australia has banned Huawei Technologies Co Ltd [HWT.UL] from supplying equipment for a 5G mobile network citing national security risks, a move the Chinese telecoms gear maker criticized as being “politically motivated”. The ban, announced on Thursday, signals a hardening of Australia’s stance toward its biggest trading partner at a time when relations between the two have soured over Canberra’s allegations of Chinese meddling in its politics.
This is also in line with measures taken by the United States to restrict Huawei and university of connecticut huskies cufflinks compatriot ZTE Corp (000063.SZ) from its lucrative market for similar reasons, Australia said in an emailed statement on Thursday that national security regulations typically applied to telecom carriers would now be extended to equipment suppliers, Firms “who are likely to be subject to extrajudicial directions from a foreign government” would leave the nation’s network vulnerable to unauthorized access or interference, and presented a security risk, the statement said..
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