Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
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.
