Panama Investigates CK Hutchison’s Port Unit After Court Voids Canal Contracts 
Strait of Hormuz LNG Crisis Triggers Global Energy Market Shock 
U.S. Stocks Close Lower as Hot PPI Data, Nvidia Slide Weigh on Wall Street 
FedEx Faces Class Action Lawsuit Over Tariff Refunds After Supreme Court Ruling 
Flare, Xaman Roll Out One-Click DeFi Vault for XRP Yield via XRPL Wallets 
APEX Tech Acquisition Inc. Raises $111.97 Million in NYSE IPO Under Ticker TRADU 
Anthropic Refuses Pentagon Request to Remove AI Safeguards Amid Defense Contract Dispute 
Trump Warns Iran as Gulf Conflict Disrupts Oil Markets and Global Trade 
IMF Urges U.S. to Cut Fiscal Deficit to Reduce Trade and Current Account Gaps 
Gold Prices Rally in February as Geopolitical Risks and Economic Uncertainty Boost Safe-Haven Demand 
Australia Targets AI Platforms With Strict Age Verification Rules 
Middle East Airspace Shutdown Disrupts Global Flights After U.S.-Israel Strikes on Iran 
Strait of Hormuz Oil and LNG Shipments Disrupted After U.S.-Israel Strikes on Iran 
Trump Media Weighs Truth Social Spin-Off Amid $6B Fusion Energy Pivot 
U.S. Stock Futures Fall as Nvidia Drops Despite Strong Earnings; Netflix Jumps 9% 
USITC to Review Impact of Revoking China’s PNTR Status, Potentially Raising Tariffs on Chinese Imports 
Nintendo Share Sale: MUFG and Bank of Kyoto to Sell Stakes in Strategic Unwinding 
The New York Stock Exchange changed its stance for the second time and announced that it will revert to its initial plan of delisting three Chinese telecom companies. The new decision came out just two days after revealing it will no longer remove shares of China Mobile, China Unicom, and China Telecom from the Big Board.
NYSE’s reason for implementing the initial decision
BBC News reported that the NYSE is now pushing through with the delisting of the said telecommunication firms. This second reversal came after the US Treasury Secretary Steve Mnuchin objected to the idea of halting the pull out of the Chinese companies. He raised his opposition a day after the announcement.
Moreover, it was said that the new decision was based on the “new specific guidance that was received by the NYSE from the Department of Treasury’s Office of Foreign Assets Control on Jan. 5, 2021. Part of the note stated that “The issuers have a right to a review of this determination.”
With NYSE reverting back to its original announcement of delisting the Chinese telecom companies, senator Marco Rubio praised the stock exchange.
"After an intense pressure campaign from those of us who believe we should prioritize the interests of American workers and mom and pop investors above Beijing and Wall Street, I am pleased that the NYSE decided to reverse their earlier announcement," he said.
The first delisting announcements
The New York Stock Exchange stated on Jan. 6 that it would proceed and delist the three mentioned Chinese firms. But prior to this, it was announced on Monday that it had revoked the very first plan to cut the telecoms.
It was explained at that time that they made the decision in compliance with Donald Trump’s executive order that prohibits American companies and individuals from investing in companies that may be supporting the Chinese military, CNBC News reported. The president stated that he implemented this EO for the security of the country.
Meanwhile, it was observed that stocks of the three mentioned Chinese telcos have plummeted after the initial announcement to delist them. The numbers went back up again after the NYSE backpedaled and said it will not proceed with the plan. Now, with the new decision, then it can be assumed that the trio’s stocks will slide down again.
