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Chinese Banks Escape $150 Million in Sanctions in Closely-Watched Case Over Counterfeit Nikes | The Fashion Law

Image: Unsplash A federal appeals court has handed a loss to Next Investments in a long-running legal battle that originally centered on counterfeit Nike sneakers. In an opinion issued on Monday, the U.S. Court of Appeals for the Second Circuit upheld a lower court’s refusal to grant Next’s motion to…
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China’s PBoC: ‘Bitcoin Has No Value’. Can Central Bankers Kill Bitcoin?

Central banks from Russia, the U.S., England and Japan all have choice words to say for Bitcoin: … [+] it’s worthless, and their bank’s digital currency will be better. Can these people ultimately destroy Bitcoin? KMR Images The powers that be are increasingly clamoring for greater, centralized control of everything,…
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Chinese Banks Don’t Owe $150M in Nike Case, 2nd Cir. Says (1)

Six Chinese banks don’t owe a $150 million contempt penalty for allegedly letting Nike counterfeiters move money out of the U.S. in violation of a court order, the Second Circuit said. Next Investments LLC, which bought the rights to try to collect Nike’s $1.8 billion default award, never sought to…
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Inside the Huarong Bailout That Rocked China’s Financial Elite – Bloomberg

Inside the Huarong Bailout That Rocked China’s Financial Elite  Bloomberg…
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Factbox: From tech to education, China’s season of regulatory crackdown

Factbox: From tech to education, China’s season of regulatory crackdown | WTVB | 1590 AM · 95.5 FM | The Voice of Branch County Close For the health and safety of everyone, our offices are temporarily closed to the public. If you have won a prize from us we will…
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Exclusive-China’s FX regulator surveyed banks, companies on yuan risk – sources

By Reuters Staff 3 Min Read BEIJING/SHANGHAI (Reuters) -China’s currency regulator has been conducting a rare survey of banks and companies to ask about their risk management processes and ability to handle volatility in the yuan, three banking and policy sources told Reuters. FILE PHOTO: A China yuan note is…
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COVID-spurred curbs, trade tensions cloud asset quality outlook of Chinese banks

The asset quality outlook of Chinese banks is clouded by the lingering pandemic and ongoing trade tensions between China and the U.S., after two major lenders reported lower nonperforming ratios but set aside more provisions to cover future loan losses in the second quarter. Industrial & Commercial Bank (Finance &…
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Lower provisions help Bocom, ICBC, CCB and Postal Savings Bank post strong first-half profit

Four leading state-owned Chinese banks on Friday reported double-digit growth in their first-half net profits, aided by lower loan loss provisions and the country’s steady economic growth. Postal Savings Bank of China topped the charts with a 21.8 per cent profit increase, followed by Bank of Communications (Bocom) at 15…
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China cbank makes biggest weekly cash injection into banking system since Feb

A man wearing a mask walks past the headquarters of the People’s Bank (Finance & Banking Trends) of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. REUTERS/Jason Lee SHANGHAI, Aug 27 (Reuters) – China’s central bank…
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UPDATE 2-Three of China’s top banks post robust H1 profits, bad loans fall

By Reuters Staff 4 Min Read * ICBC, BoCom, CCB post healthy H1 profit growth * Three banks log slight fall in NPL ratio * Net interest margins remain fairly steady (Adds CCB, context) SHANGHAI/BEIJING, Aug 27 (Reuters) – Three of China’s largest banks posted more than 9% first-half net…
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