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NWQWM Financial Report

China's crackdown on its technology sector looks set to continue following nearly a year of unwieldy regulatory efforts. It all began in November 2020, when Jack Ma's Ant Group was forced to cancel what would have been the world's largest IPO. Regulatory efforts then turned to data security and protection - with large fines imposed on Alibaba and culminated in a NYSE delisting announcement last week by DiDi Global.  China is now said to be drawing up a blacklist that will make it harder for new technology companies to raise foreign funding and list overseas. The blacklist could be published as early as this month.

Coffee prices on futures markets have rallied to a 10-year high, with companies and traders dashing to lock in supplies as they contend with shipping bottlenecks and a late-year rise in demand. Traders are turning to futures, products that allow them to secure deliveries at a set price, on concerns they may be unable to obtain adequate stockpiles on the “physical market” where they can be more selective about the product they will receive.

Americans plan to spend with gusto this holiday season despite concerns about the economy and inflation and worries that supply bottlenecks might delay the arrival of their gifts.The CNBC All-America Economic Survey finds that individuals, on average, plan to spend $1,004 on gifts, up 13% from the pandemic-depressed number last year, and the highest number since 2018.

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