3/18/2021 Financial News: Morgan Stanley to Offer Crypto Funds; Huawei Demanding 5G Royalties from Mobile Giants

Image Source: https://www.zerohedge.com

1.Huawei to Start Demanding 5G Royalties from Apple, Samsung

Huawei Technologies Co. will begin charging mobile giants such as Apple Inc. a “reasonable” fee for access to its trove of wireless 5G patents, potentially creating a lucrative revenue source by showcasing its global lead in next-generation networking.

Communist China’s largest technology company by revenue wants a seat at the table with tech giants vying to define the rapidly evolving field of connected cars, smart homes and robotic surgery. Battles are unfolding over who profits from 5G that may dwarf the size and scope of the tech industry’s first worldwide patent war.

2.Chinese domestic refined oil prices have “nine consecutive increases” for the first time

On March 17, Communist China domestic retail prices of refined oil products increased again. The National Development and Reform Commission stated that the increase was due to the recent changes in oil prices in the international market. This is the fifth price adjustment this year. With the price increases at the end of 2020, this is the first “nine consecutive increases” since the implementation of the new pricing mechanism for refined oil in March 2013. It is expected that the gasoline prices continue to increase in the future.

3.More frequent abandoned purchase contracts of buyers as property price falling in Beijing

Since 2017, property prices surrounding Beijing continued to fall, sometimes dropping to 17,000 yuan per square meter from 30,000 yuan per square meter a few years ago. Previously, many people tried to do everything they could to qualify for the purchase, as they frequently used draft contracts as a method so that they could buy the properties. When prices fell, they want to default on the properties they bought.

4.Another A-share company may be delisted due to fake financial report

On March 16, Communist China Communication Technology Co., Ltd. (CCT Group), also known as ST Huaxun (000687) announced that the company was suspected of violations of information disclosure, and that it has been under the investigation of the Hebei Securities Regulatory Bureau.

According to the investigation, there are false records in CCT Groups “2016 Semi-Annual Report”, “2016 Annual Report”, “2017 Semi-Annual Report”, “2017 Annual Report”, and “2018 Semi-Annual Report”. As a result, the Company may be delisted for major violations of law, and as of the close of business day on March 16, the Company’s share price has fallen 93.8% from its historical high (RMB 31.28), and the share price now stands at RMB 1.95.

5.Notice on prohibiting small lenders from issuing Internet loans to college students

Five departments from Communist China government, including China Banking and Insurance Regulatory Commission (CBRC) recently jointly issued the Notice on Further Regulating the Supervision and Management of Internet Consumer Loans for College Students, aimed at preventing Internet companies and Internet microfinance institutions from targeting college campuses and issuing Internet consumer loans through false advertisement, inducing college students to overspend on Internet shopping platforms, leading some college students to fall into the trap of having large amount of loans.

6.Morgan Stanley Becomes First Major US Bank to Offer Crypto Funds

Morgan Stanley is about to become the first major US bank to offer its wealth-management client access to cryptocurrency funds.

In a major coup for former hedge fund manager Mike Novogratz, a veteran crypto bull who held on during the long bear market that started after the late-2017 peak, MS is reportedly offering some clients access to two funds managed by Novo’s Galaxy Digital, along with a third fund that’s a joint offering from FS Investments and bitcoin company NYDIG.

7.Oil falls further on demand outlook, U.S. stock build

NEW YORK (Reuters) – Oil slipped for a fourth day on Wednesday, weighed down by expectations of weaker demand in Europe and by rising U.S. crude inventories. Brent crude settled 39 cents, or 0.6% lower, at $68 a barrel while U.S. West Texas Intermediate (WTI) crude dropped 20 cents, or 0.3%, to end at $63.68. Both contracts fell by more than $1 during the session.

Prices slipped towards session lows after government data showed U.S. crude inventories rose 2.4 million barrels last week, following Tuesday’s industry report estimating a 1 million barrel-drop. Analysts had forecast an increase of 3 million barrels.

By 【Financial Team – Chinese Translator】

News Collection: 文罡,Sharon, Kate, Lingken

Proofreading: 小蚂蚁在行动

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