Colorado fire-bomb suspect planned attack for a year, prosecutors say
Boulder attack suspect Mohamed Sabry Soliman poses for a jail booking photograph after his arrest in Boulder, Colorado, U.S. June 2, 2025. (Reuters)
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South China Morning Post
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American economist Stephen Roach has said that Hong Kong has benefited from the US-China trade war despite last year having declared the city to be 'over', even as he claimed that other aspects of the financial hub had worsened. The former Morgan Stanley Asia chairman sparked debate last year after he penned an opinion piece which argued, in part, that Hong Kong would be caught in the 'crossfire' of the worsening US-China rivalry. 'The word caught is the word that, if I had to write the piece again, I would probably change, because I think, ironically, Hong Kong has benefited from the crossfire between the US and China,' he told the Post in a recent interview. Despite worsening ties between the two superpowers since US President Donald Trump began levying his so-called reciprocal tariffs on China and the rest of the world, Hong Kong's stock market has seen solid gains. The benchmark Hang Seng Index is up by around 50 per cent since Roach made his original claim, while Hong Kong has rocketed to the top of global fundraising table following a string of high-profile initial public offerings last month, including from mainland Chinese battery maker Contemporary Amperex Technology. Roach, who is now a faculty member at Yale University, said the 'sell America' trade had become a 'global mantra' and Hong Kong was a beneficiary.


South China Morning Post
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Will Chinese scientist Jian Yunqing's arrest risk further US talent exodus?
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South China Morning Post
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What's up with Section 899 of Trump's ‘big beautiful bill' and its ‘retaliatory' taxes?
With the market taking a closer look at the 'One Big Beautiful Bill Act' after it was narrowly passed by the US House of Representatives on May 22, a clause called Section 899 has caught the attention of investors worldwide by including a new set of 'retaliatory' taxes on inbound foreign investment. As the bill now awaits Senate consideration, there are growing concerns that some of the most sweeping changes to the tax treatment of foreign capital in the US in decades could lead to a sharp reduction in foreign investment in American assets. In this explainer, the Post breaks down some key points in Section 899, including which countries are targeted, and its potential impact on US assets. What is Section 899? Titled 'Enforcement of remedies against unfair foreign taxes', Section 899 is a new provision that targets investments by countries that have 'discriminatory and extraterritorial taxes' on US businesses. Taxes that have been named include the digital-services taxes, diverted-profits tax, and undertaxed-profits rules. Governments, corporations, private foundations or individuals from these countries will be charged an additional 5 percentage points of withholding tax rate each year on their US income, potentially taking the rate up to 20 per cent, until the 'unfair tax' is removed. Echoing the spirit of the 'Mar-a-Lago Accord' , Section 899 reflects Washington's increasing readiness to leverage US dominance in the global capital market to confront what it views as the unfair treatment of American businesses abroad.