Flash News

TREE NEWS update: Qichacha Technology Co. and its sponsor CITIC Securities have withdrawn the company’s application for an initial public offering on the Shanghai Stock Exchange main board, prompting the exchange to terminate its review of the listing. The withdrawal comes about a year after the company’s previous listing attempt.

TREE NEWS update: The US Treasury Department has appointed Judy Shelton as an adviser to Treasury Secretary Scott Bessent. The appointment places Shelton, a former nominee to the Federal Reserve Board of Governors, in a senior advisory role at the department. No further details of her remit were given.

TREE NEWS update: The European Union Aviation Safety Agency said on the 9th it had updated its safety warning for Saudi Arabian airspace, widening the areas where it advises airlines to avoid flying. The move follows recent attacks by Yemen’s Houthi movement on Saudi targets including Riyadh airport. The updated warning covers a broader set of airspace zones.

TREE NEWS update: China is deepening its participation in ISO and IEC standardization work for the low-altitude economy, pushing international standards through proposal, drafting and publication stages. A drone sense-and-avoid system jointly led by China filled a gap in existing international standards, while a Chinese-proposed UAS license and safety-module testing method became the first international standard proposal in the drone identification field to be approved for development.

TREE NEWS reports: Wall Street’s largest banks are expected to report combined third-quarter equities trading revenue of nearly $19 billion when earnings land next week, with Goldman Sachs forecast to lead at $5.1 billion, followed by Morgan Stanley at $4.9 billion, JPMorgan at $4.5 billion and Bank of America at $2.6 billion. Analyst estimates compiled as of Thursday’s New York close show performance gaps widening as capital-market activity cools, in contrast to the first half when all five banks benefited from a trading boom.

TREE NEWS reports: The UK Maritime Trade Operations (UKMTO) reported on October 9 that it has recorded 122 shipping security incidents linked to the US-Iran conflict within its monitoring area since the start of the year. The report also logged six attacks on shipping vessels in the Red Sea and 41 piracy-related incidents, and said the security situation in and around the Strait of Hormuz remains severe. UKMTO has issued 133 maritime security warnings and 18 security notices so far this year.

TREE NEWS reports: Traders on prediction market Kalshi now assign a 75% probability that more than 5,100 AI data centers will be planned or operating worldwide by 2027, up from 60% two weeks earlier. The contract will be verified by data center tracking platform Data Center Map, which counts over 4,700 operating or planned US data centers, led by Virginia with more than 670, Texas with over 537 and California with over 200. Expansion has drawn local opposition over power costs and water use.

TREE NEWS update: US Treasury Secretary Scott Bessent said the Trump administration is escalating its “maximum pressure” campaign on Iran into an “absolute isolation” effort, and that Washington could seize about $1 billion in crypto assets this week. Bessent said the US has located the assets and moved to isolate them. The operation also involves maritime blockades, air and land restrictions, and coordination with the UAE, Oman, Pakistan and Turkey. The specific tokens, wallets, enforcing agencies and legal basis were not disclosed.

TREE NEWS reports: Bank of America strategist Michael Hartnett said money market funds drew $166.4 billion in the week to October 7, the largest weekly inflow since April 2020. He argued the cash will not leave for equities in size until the Fed begins sustained, clear monetary easing, saying: “No rate cut, no cash reduction.” Markets now expect the next Fed hike in December rather than at the late-October meeting.

TREE NEWS reports: Japan’s Ministry of Health, Labour and Welfare reported 42,320 influenza cases at designated medical institutions nationwide for the week of Sept. 28 to Oct. 4, about 7.3 times the same period last year and 1.6 times the prior week. The average of 11.35 cases per institution marks the first time this flu season that Japan has reached the ‘attention’ alert level.

TREE NEWS update: Ukrainian President Volodymyr Zelensky said on the 9th that multiple power grid and transmission facilities across the country have been damaged, with repair work continuing around the clock. Zelensky stressed that the Infrastructure Ministry and regional military administrations must take primary responsibility for completing the task and restoring normal power supply as soon as possible.

TREE NEWS update: US Vice President JD Vance announced on October 8 a suspension of the PERM labor certification program for Microsoft and other technology companies. Vance also accused nine US universities, including Harvard and Stanford, of J-1 visa fraud, saying they face further investigation. The move affects foreign employees’ green card sponsorship through the permanent labor certification route.

TREE NEWS update: French police on October 8 recovered the two remaining paintings stolen from the Renoir museum — “Madame Colonna Romano” and “Young Girl at the Well” — French authorities said on October 9. With the two works returned, all four paintings taken in the theft have now been recovered.

TREE NEWS update: Adora Cruises announced on October 9 in Hong Kong the itineraries and product plans for “Adora Flora City,” its second domestically built large cruise ship, which will be based in Hong Kong starting next year. The ship will set sail in November this year and visit Hong Kong, and will run a full Hong Kong homeport season in 2027 with nearly 20 cruise departures, including three added sea-day sailings.

TREE NEWS update: Iranian President Masoud Pezeshkian said on October 8 that Iran will not leave the negotiating table, reaffirming Tehran’s commitment to a diplomatic path while rejecting US unilateralism. Speaking after a meeting with Russian President Vladimir Putin in Turkmenistan, Pezeshkian said Iran and the US have exchanged proposals and Iran has amended them, adding that once finalized, Iran intends to sit with mediators to consolidate and conclude the matter.

TREE NEWS update: Delta Air Lines CEO said the carrier will be forced to raise ticket prices if fuel prices remain high. The statement ties the airline’s fare outlook directly to sustained elevated fuel costs, signaling potential pass-through of energy expenses to passengers.

TREE NEWS update: CICC Chairman and Management Committee Chairman Chen Liang met with John Graham, President and CEO of Canada Pension Plan Investment Board (CPP Investments), the Chinese investment bank said. The two sides held in-depth discussions on deepening cross-border capital market cooperation and continuing to expand their presence in the Chinese market.

TREE NEWS update: China and the European Union agreed to keep exploring the possibility of cutting tariffs on some goods within the WTO rules framework, according to the consensus list from the second meeting of their trade and investment consultation mechanism. The two sides will also step up communication and cooperation under the trade monitoring mechanism and further use the dialogue channel to improve mutual understanding.

TREE NEWS update: China and the European Union reaffirmed the need to further strengthen their export control dialogue and welcomed deeper communication on each side’s export control policies, according to the consensus list from the second meeting of the China-EU trade and investment consultation mechanism. The two sides said the exchanges would include publishing policy guidelines, organizing government-business exchanges and holding training sessions.

TREE NEWS update: China and the European Union agreed at the second meeting of their trade and investment consultation mechanism to keep global industrial and supply chains predictable and stable. Beijing will continue to facilitate export licensing for rare earths and permanent magnets to Europe through a “green channel,” while the EU will work with member states to ease key dual-use licensing cases involving China.