US Market Update 22/09/21
Opening of Air Travel to Most Vaccinated Foreigners
- The U.S. will soon allow entry to most foreign air travelers as long as they’re fully vaccinated against Covid-19, while adding a testing requirement for unvaccinated Americans and barring entry for foreigners who haven’t gotten shots.
- The new rules will replace the current system, which includes outright bans on entry for most foreigners who’ve been to certain regions including the U.K., European Schengen area, China, India, South Africa and Brazil regardless of vaccination status.
- The agency currently considers people fully vaccinated when they have received the full course of a shot listed for emergency use by the World Health Organization.
US-China Tensions Knocked 96% Off of Bilateral Tech Investment
- Political tensions have decimated tech-sector investment between the U.S. and China as the world's two biggest economies attempt to decouple their supply chains, according to a recent report.
- Between 2016 and 2020, overall direct investment between the two countries fell 75% from $62 billion to $16 billion, with the tech sector alone plunging 96% over the period, according to Bain and Co.'s latest annual technology report.
- Investments from China to the U.S. fell much more steeply than those in the opposite direction due to Washington's crackdown on Chinese companies creating geopolitical uncertainties for businesses.
The US Investigates Into Binance
- U.S. investigations into Binance Holdings Ltd. have expanded, with authorities now examining possible insider trading and market manipulation -- the latest sign that scrutiny of the world’s largest cryptocurrency exchange is intensifying.
- As part of the inquiry, U.S. officials have been looking into whether Binance or its staff profited by taking advantage of its customers, said people with knowledge of the matter who asked not to be identified because the probe is confidential.
- The review involves Commodity Futures Trading Commission investigators, who in recent weeks have been reaching out to potential witnesses.
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