Finance news

Can Index Futures be manipulated to prop up the broader stock market?

I've been thinking about this for a few days. I'm looking for insight from redditors who might know. Google Ai's answer was the following: Yes, it is theoretically and mechanically possible to use index futures to prop up the broader US stock market and this idea has long been discussed in the context of potential government or institutional market intervention. Because index futures are highly leveraged and closely linked to the underlying stock index, they are a generally more efficient tool t

UK’s Nigel Farage to quit as lawmaker, seeks re-election to clear name

Reform UK leader Nigel Farage says he will quit as a lawmaker and seek re-election to clear his name over financial allegations linked to millions of dollars’ worth of donations. “I have done nothing wrong. I have not broken the law in any way at all. I have not misused public money,” Farage, a prominent ally of US President Donald Trump, said in a broadcast statement that did not take questions. Farage faces a probe by parliament’s standards watchdog over a £5 million (US$6.7 million) gift from

Deal at NATO summit: For the first time, US missile production will be entirely on German soil

On the sidelines of the meeting in Ankara, a historic agreement was reached between Rheinmetall from Germany and Lockheed Martin from the USA.

Alliance meeting in Turkey: Trump arrived in Ankara for the NATO summit

At the NATO summit in Ankara, as is often the case, all eyes are on the US President. Whether the meeting is a success depends largely on him. Now he has arrived in Turkey.

Latest US political divide emerges: the age gap over whether China is cause for concern

A generational gap over China is emerging in the United States, with younger Americans significantly less likely to see Beijing as a cause for concern, according to a new survey. “Across almost every potential concern tested regarding Beijing, American unease climbs steeply with age,” the 2026 Reagan Institute Summer Survey report said. It also found that despite the deep political divisions within the US over foreign and domestic policy, there was less sign of a bipartisan split over China...

NATO summit: USA and Europe agree on arms cooperation worth several billion US dollars

European companies increasingly want to manufacture, supply or maintain US weapons systems. To this end, new collaborations will be announced at the NATO summit.

Denmark to buy two Boeing P-8 aircraft for Arctic surveillance

In recent months, Copenhagen has stepped up efforts to strengthen Arctic subsurface and oversea surveillance capabilities amid Russian threats and US President Donald Trump’s verbal push to acquire Greenland.

Hong Kong yuan facility to expand 150% to US$73.6 billion to meet international demand

Hong Kong will substantially increase its yuan facilities for banks from this Friday, while the city will also introduce a new electronic fixed income and currency (FIC) trading system as part of its latest efforts to promote yuan trading, according to local market regulators on Tuesday. Hong Kong Monetary Authority (HKMA) would increase the quota of its RMB Business Facility for banks by 1.5 times to 500 billion yuan (US$73.6 billion) from this Friday, according to its chief executive Eddie Yue

US-sanctioned 'teapot' refiner Hengli leads China petrochem profit spike

Arms deal at the NATO summit: First US rocket production is built entirely on German soil

On the sidelines of the meeting in Ankara, a historic deal was reached between Rheinmetall from Germany and Lockheed Martin from the USA.

NATO summit: NATO no longer relies on US aircraft for reconnaissance

NATO announces billion-dollar arms deals on the sidelines of its summit in Ankara. One of the new “eyes in the sky” is particularly explosive.

To boost manufacturing, India need not choose between Japan and China

Last week, Japanese Prime Minister Sanae Takaichi led a business delegation to New Delhi for the 16th India-Japan annual summit. During last year’s summit in Tokyo, Takaichi’s predecessor, Shigeru Ishiba, and Indian Prime Minister Narendra Modi outlined the Japan-India Joint Vision for the next decade – during which period India may see up to 10 trillion yen (US$62 billion) in investment from Japan. Some of Japan’s most notable investments in India have been in the financial sector. Japanese...

Qatari LNG Carrier Struck in Hormuz

A laden LNG carrier was hit by a projectile near the Omani coast as it exited the Strait of Hormuz, heightening unease among shipowners and testing a US-Iran agreement intended to halt attacks in the waterway.

Toyota to invest $3.6bn to move some truck production from Mexico to US

Sex assault claim throws key US Senate race into question

⁠Democratic Party leaders on Monday called on Graham Platner to withdraw as their nominee to run against Republican US Senator Susan Collins of Maine, after media reports that a woman accused him of forcibly having sex with her nearly five years ago. Senate Democratic leader Chuck Schumer and Senator Kirsten Gillibrand of New York, who heads the Democratic Senatorial Campaign Committee, said in a statement: “The DSCC will not invest in the Maine Senate race if Platner remains on the...

More hardship in fuel-starved Cuba, hit by third nationwide blackout this year

Cuba on Monday suffered its third nationwide power outage since the start of the year, causing mounting despair in the face of an energy collapse precipitated by a US fuel blockade. The communist island was already struggling to keep the lights on before US President Donald Trump in January cut off its oil supplies, depleting the dwindling supply of fuel for its power plants. Union Electrica (UNE), the state electricity company, announced a “total disconnection” to the entire island at midday,..

Thai beer heir opens up, Philippine ube’s ‘purple gold rush’: 7 Asia highlights

We have selected seven stories from the SCMP’s coverage of Asia over the past week that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. US touts regional ‘balance’ in missile sale to Singapore. What does it mean? Washington has recently approved a proposed US$22.3 million sale of additional Hellfire missiles to Singapore, with the US State Department declaring that the transfer and associated arms...

Can China and US find common ground on AI governance in Geneva?

Kuaishou shares tumble as Tencent slashes stake after US$3b Kling AI deal

Shares of Kuaishou Technology fell more than 6 per cent on Tuesday morning after Tencent Holdings slashed its stake in the short-video platform by selling 273 million Class B shares, just days after leading a US$3 billion financing round for Kuaishou’s artificial intelligence video unit, Kling AI. The divestment will reduce Tencent’s shareholding in Kuaishou to 9.37 per cent from 15.68 per cent, meaning the tech giant would cease to be a substantial shareholder, according to a Kuaishou filing to

+++ Football World Cup 2026 +++: After the Balogun scandal – Belgium defeats the USA World Cup team

US star Balogun in the starting line-up against Belgium +++ FIFA comments in detail on Balogun's decision +++ No career crowning achievement: Spain destroys Ronaldo's World Cup dream +++ The World Cup blog

Comment: Trump is not the colossus he wants to be – and Europe is learning to use that

The Europeans have long ensnared the US president and pacified him with billions. But before the summit in Ankara it is clear: this appeasement policy has failed.

Singapore’s Carousell hits profitability milestone, banks on AI as ‘force multiplier’

At Carousell’s Singapore office, a red tunnel greets employees with the company’s mission to “make second-hand the first choice” – a slogan its leaders say is moving closer to reality as the platform for buying and selling used goods recorded its first positive adjusted operating profit. The Singapore-headquartered company, last valued at US$1.1 billion in 2021, said on Tuesday it had achieved positive Ebitda – earnings before interest, taxes, depreciation and amortisation – for the first time,.

Bargain homes are to be had in New Zealand but here’s the catch: floods

New Zealand’s flood-prone homes are outperforming the rest of the country’s moribund housing market, as buyers chase lower prices and shrug off climate risks. Properties facing the highest flood risk have gained 26.1 per cent in value since January 2020, compared with 19.8 per cent for homes with no exposure, property consultancy Cotality said in Wellington on Tuesday. Discounts of as much as NZ$100,000 (US$60,000) on some houses were proving too tempting for cost-conscious consumers, it...

China records most new unicorn start-ups in 5 years as AI and robotics boom

China’s innovation ecosystem has witnessed a resurgence, minting 67 new unicorn start-ups in the first half of 2026 – the biggest increase in almost five years – as AI and robotics kick off a new investment cycle. The growth translates into an average of one new unicorn – private companies valued at US$1 billion or more – in less than every three days and was the highest since the second half of 2021 when 76 new unicorns were created, according to a Monday report by ITJuzi, a start-up...

Car manufacturer: Toyota is relocating truck production from Mexico to the USA for $3.6 billion

The new plant will open on an existing production site in San Antonio. US President Trump had previously repeatedly put Toyota under pressure.

+++ Football World Cup 2026 +++: US star Balogun in the starting line-up against Belgium

No career crowning achievement: Spain destroys Ronaldo's World Cup dream +++ Trump confirms conversation with FIFA boss about red card for US striker +++ Klingbeil demands clarification +++ The World Cup blog

Talk of US-China decoupling is getting loud – but neither side is ready for a clean break

As the United States marks the 250th anniversary of its founding, it confronts a new world order dominated by its relationship with China. In this wide-ranging series, we examine the pressure points and possibilities in those ties, from hard tech to soft power. In this article, Sylvia Ma examines the numerous financial links between the two economies that make a true decoupling a difficult affair. On a landmark visit to Beijing in 1986, the New York Stock Exchange chairman at the time, John...

Canada picks German firm for new submarine fleet, South Korean competitor loses out

In a closely watched outcome, Canada on Monday chose a major German defence contractor over its South Korean competitor to build a US multibillion-dollar fleet of submarines, as mid-tier nations increasingly work together in the face of a less reliable United States. Canadian Prime Minister Mark Carney said that Ottawa chose Thyssenkrupp Marine Systems (TKMS)’s package over Hanwha Ocean Company’s. The move is expected to strengthen ties between Canada and Nato, which is holding a two-day summit.

Trump hints at public ‘contribution’ from US AI firms, sparking speculation

US President Donald Trump suggested on Monday that leading American artificial intelligence companies would make a public “contribution” to the country, offering few details but fuelling speculation about a greater government role in the booming industry. Speaking in the Oval Office on Monday morning, Trump said tech companies “making tremendous amounts of money” will be making “a contribution to the people of our country”. “We’re going to have guardrails … You know that. But [AI] can be used...

What to expect from the US at the 2026 NATO summit

Here are a few things we’re monitoring during this week’s alliance summit in Turkey.