Chinese Scientists Attempt to Protect the Great Ancient Glacier: Experiments with White Film Sunshad
Good afternoon. Here are the key points you need to know for today:
1. China could end its investigation into Ant Financial with a fine of at least 800 million yuan (US$1.1 billion). Reuters reported that China could announce the end of its investigation and regulatory reforms into Ant Financial with a fine of at least 800 million yuan (US$1.1 billion). If the financial technology firm is allowed to resume business growth, it could lift restrictions on the private sector imposed by Beijing, sparking hope for the private sector in China and pushing up shares of Alibaba.
2. Japanese wage growth exceeds expectations, giving the Bank of Japan clues to growth momentum. Japanese wages rose 2.5% year-on-year in May, exceeding the level expected by economists, providing the Bank of Japan with a new sign that wage increases are accumulating momentum. It is reported that due to the policy divergence between Japan and the US, the yen-dollar exchange rate could fall to a low of 160 yen per dollar.
3. Chinese scientists are trying to protect glaciers with white film sunshades. Chinese authorities are planning to protect glaciers from solar radiation by covering them with white film. The experiment will take place on the Tibetan Plateau and could help protect thousands of jobs, even though it is only a temporary solution due to the continued rise in global temperatures. The glacier has lost more than 70% of its ice in the past half century.
Other News:
- Chinese stocks are experiencing their third consecutive week of decline, the yuan is close to an eight-month low, and unease in the domestic credit market is rising. All of this is adding pressure on authorities to back up their soothing rhetoric on the economy with more tangible action. - Gearoid Reidy says Japan is increasingly close to Shinzo Abe's grand vision. From think tanks to hedge funds, Japan is in a position that is known to all. Money is pouring into the market, tourists are flocking in, and Tokyo is at the heart of Washington's strategy to reduce the risk of a pullback from China.
Weekend Reading:
- She was once an astronaut, a scientist, and now she's the President of the United States. Now Barbie will become a movie star. Read in the business magazine about Mattel's bold move in this endeavor. We interviewed a Moroccan pharma CEO who is dedicated to changing the supply of drugs and vaccines in Africa. Learn how mobile payments are bringing electricity to the world's poorest people.
Worth Noting:
- Chinese scientists are testing the use of white film sunshades to protect the ancient glaciers from thermal effects. The experiment is taking place on the Tibetan Plateau and could help protect thousands of jobs, but it is only a temporary solution due to the continued rise in global temperatures. In the past half century, the ancient glaciers have lost more than 70% of their ice.