logo
Shein Is Said to Weigh Hong Kong as IPO Venue Instead of London

Shein Is Said to Weigh Hong Kong as IPO Venue Instead of London

Bloomberg28-05-2025

Shein Group Ltd. is considering switching its planned initial public offering to Hong Kong instead of London, people familiar with the matter said.
The Singapore-headquartered fast-fashion firm and its advisers have shifted focus because the approval process with Chinese regulators for its proposed London listing were dragging on, the people said, asking not to be identified because the deliberations are private.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Solana 's SOL Rebounds as Buyers Step In Above $147
Solana 's SOL Rebounds as Buyers Step In Above $147

Yahoo

time43 minutes ago

  • Yahoo

Solana 's SOL Rebounds as Buyers Step In Above $147

SOL SOL showed renewed strength Saturday as it rebounded from a low of $147.13 to trade back above $151, despite lingering global macroeconomic headwinds. The recovery comes amid a spike in on-chain activity, with Coin Days Destroyed surging to 3.55 billion—its third-highest level this year—indicating movement of long-dormant tokens. The bounce off $147 confirmed a bullish double bottom pattern, supported by rising volume and a return to a short-term bullish channel on the 6-hour chart. Solana now faces overhead resistance near $152.85, where sellers previously stepped in, but a move above that level could open the door toward the $155–$157 zone. While Solana's network fundamentals remain strong, the broader macro environment continues to inject volatility into crypto markets, with ongoing US-China tariff disputes and rising global bond yields weighing on investor confidence. Technical Analysis Highlights SOL rallied from $147.13 to $152.94, gaining 3.95% intraday. Double bottom formed near $147.50, signaling a potential trend reversal. Resistance is developing at $152.50–$153.00, capping upward momentum. Bullish channel seen on 6-hour chart, with volume rising on green candles. Coin Days Destroyed spiked to 3.55 billion, its third-highest reading in 2025. Price dropped slightly in the last hour from $152.51 to $151.77 (0.48%). Hourly chart shows bearish engulfing pattern; $150.85 is near-term support. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

Britain to allocate $116 billion to R&D in spending plan
Britain to allocate $116 billion to R&D in spending plan

Yahoo

timean hour ago

  • Yahoo

Britain to allocate $116 billion to R&D in spending plan

LONDON (Reuters) -British finance minister Rachel Reeves will allocate 86 billion pounds ($116 billion) in this week's spending review to fund research and development, the Department for Science, Innovation and Technology (DSIT) said on Sunday. It said the package, funding everything from new drug treatments and longer-lasting batteries to artificial intelligence breakthroughs, would be worth over 22.5 billion pounds a year by 2029/30, driving new jobs and economic growth. Reeves will divide more than 2 trillion pounds ($2.7 trillion) of public money between her ministerial colleagues on Wednesday, making choices that will define what the year-old Labour government can achieve in the next four years. The DSIT said the announcement on R&D follows Reeves' commitment last week to 15.6 billion pounds of government investment in local transport in city regions in the Northern England, Midlands and the South West. ($1 = 0.7398 pounds)

China to fast-track applications for rare-earth minerals to US, EU
China to fast-track applications for rare-earth minerals to US, EU

Yahoo

time3 hours ago

  • Yahoo

China to fast-track applications for rare-earth minerals to US, EU

June 7 (UPI) -- China has agreed to fast-track approvals for the shipment of rare earth minerals to the United States and some European Union nations. U.S. President Donald Trump and Chinese leader Xi Jinping spoke Thursday about easing trade tensions. On Saturday, China's Minister Seceary Wang Wentao said his nation is "willing to establish a green channel for qualified applications to speed up approval." Details weren't given, including the speed of the process and which EU nations are included. China controls 90% of the global processing of rare earth minerals. Major deposits also are found in the United States, Australia and Russia. Smaller amounts are in Canada, India, South Africa and Southeast Asia. Rare earth minerals are in the Earth's crust, making them difficult to extract. They include lanthanide, scandium and yttrium, all on the Periodic Table of Elements. Some major minerals that contain rare earth elements are bastnasite, monazite, loparite and laterite clays. The first rare-earth mineral was discovered in 1787 -- gadolinite, a black mineral composed of cerium, yttrium, iron, silicon and other elements. U.S. needs rare earth minerals The minerals are critical to American industries and defense, including use in cars and fighter jets. Batteries contain the minerals Trump posted on Truth Social on Thursday "there should no longer be any questions respecting the complexity of rare Earth products." On April 29, the United States and Ukraine created a Reconstruction Investment Fund that includes rare earth mineral rights in the European nation. Trump and Ukrainian President Volodymyr Zelensky were originally set to sign the minerals deal on Feb. 28, but the plan was scrapped after a tense exchange between them in the Oval Office in which Trump accused him of "gambling with World War III." The United States wants access to more than 20 raw materials in Ukraine, including some non-minerals, such as oil and natural gas, as well as titanium, lithium, graphite and manganese. The Chinese commerce ministry confirmed some applications have been approved without specifying industries covered. Some Chinese suppliers have recently received six-month export licenses, the American Chamber of Commerce in China said Friday, but it noted that there is a backlog of license applications. In a survey of member companies conducted by the American Chamber of Commerce in China late week, 75% say their stock would run out within three months, CNN reported. Jens Eskelund, the chamber president, said member companies were "still struggling" with the situation. "I hadn't realized just how important this rare earth card was before. Now the U.S. side is clearly anxious and eager to resolve this issue," he said a video on Thursday. "But of course, we'll link this issue to others -- the U.S. is restricting China on chips and jet engines, then China certainly has every reason to make use of this card. "As for whether China will change its rare earth export control policy, that probably still needs to be negotiated in more detail," Jin added. Trump said Xi and himself "straightened out" some points related to rare earth magnets, calling it "very complex stuff." The U.S. federal government said China had reneged on its promise made in Geneva on May 12. Delegations from Beijing and Washington plan to meet in Great Britain on Monday for trade negotiations. At the height of tariff war, China had imposed export restrictions on some minerals on April 4. Trump two days planned a 120% "reciprocal" tax on top of 25% levy on Chinese goods. But one week later it paused the bigger tariffs, including on other countries for 90 days. European nations' needs China's commerce ministry pledged to address the EU's concerns and establish a "green channel" for eligible applications to expedite approvals. He went to Brussels, Belgium, earlier this week and met with European Union's trade commissioner, Maros Sefcovic. It's a problem for China and the EU. Sefcovic said the pause was slowing deliveries for manufacturers of a wide range of items from cars to washing machines. Wang urged the EU to "take effective measures to facilitate, safeguard and promote compliant trade of high-tech products to China." On Friday, the European Chamber, a Beijing lobby group, warned progress had "not been sufficient" to prevent severe supply chain disruptions for many companies.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store