America's Supposed "Enemies" Are Literally Disappearing...But They Won't Likely Gently Fade Away
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Apple Removes NYT App In China After Pressure From Beijing
In what may be the latest crackdown on "fake news", but is likely just China stifling even more contrarian voices, overnight Apple removed the New York Times English- and Chinese-language news apps from its iTunes store in China as a result of a "request" from the local authorities, the companies said separately on Thursday. The apps, which the newspaper said were removed on Dec. 23, are the latest Western services to fall foul of Chinese authorities, whose other scalps include Apple's own iBooks and iTunes Movies stores which have been blocked since April.
A Stunned Wall Street Reacts To China's "Bear-Crushing" Yuan Carnage
As we observed earlier, China’s currency gained 0.5% in offshore market to 6.8275 vs dollar, earlier surging as high as 6.78, extending its 2-day advance to 2%, the most on record, driven by a direct attack by the PBOC on shorts, whom it crushed overnight when it pushed the overnight offshore Yuan deposit rate to 80%, the highest in history.
The epic squeeze took place almost a year after an identical moves a year ago: back then the abrupt market reversal almost exactly a year ago marked the beginning of a nearly 5 percent rally that lasted two months.
Global Stocks Rise To 1.5 Year High After Chinese Intervention Halts Dollar Rally
Asian stocks rose, led by Hong Kong, while European shares and U.S. equity-index futures are little changed. Euro, yen climb as the dollar posted an unexpected loss following some serious fireworks out of China, which intervened in funding market to crush offshore Yuan shorts.
Top news stories include Macy’s and Kohl’s cutting their outlook after weak holiday season, Deutsche Bank exploring lending money to PE firms buying distressed loans, Apple planning to invest $1b in SoftBank’s new technology fund.
Bitcoin China Soars To Record High Amid Capital Control Concerns
While Yuan rallied following last night's trial balloon by the PBOC - when as reported overnight the PBOC was studying possible scenarios of yuan exchange rate and capital outflows in 2017 based on models, stress tests and field research, and is preparing contingency plans - Bitcoin in China soared to new record highs amid massive volumes.
It appears fears of crackdowns on "virtual" currency outflows - as described by China researchers - is not there yet as the momentum-chasing Chinese have found a new friend as Commodities crumble.