Economy

China-UK relations
China lifts sanctions on British politicians

China has lifted its sanctions on five British MPs and two Lords who were banned from doing business with Chinese companies in 2021, Prime Minister Keir Starmer told several media outlets. The ban was imposed after they criticized China's treatment of Uyghurs.

- I raised the issue and the Chinese were clear: the restrictions no longer apply, he says.

Since 2017, China has been accused of detaining over a million Uyghurs and other Muslims in Xinjiang, a policy that the UN has described as a crime against humanity.

The future of free trade
Trump: Dangerous if Starmer does business with China

Donald Trump is not happy that US ally Britain is trying to thaw relations with China.

– It would be very dangerous for them to do business with China, was Trump's comment when he was asked by reporters in connection with the premiere of the documentary film "Melania" on Thursday.

Keir Starmer is currently on a state visit to Beijing to meet President Xi Jinping, among other things, and so far several cooperation agreements and declarations of intent have been signed by the countries.

Among other things, China has agreed to halve its import duties on British whiskey to 5 percent and allow British citizens to travel visa-free to China for a month.

Crypto market
Bitcoin's decline continues - down 30 percent since October

Bitcoin plunged to its lowest level in two months after continued capital outflows in Asian trading from US-listed ETFs, Bloomberg reports.

The cryptocurrency fell nearly 4 percent to around $81,000, down more than 30 percent from its record high in October.

The US ETFs have had net outflows for three months in a row, totaling around $4.8 billion, the news agency writes.

The future of Open AI
Sources: Open AI plans listing – wants to be first

Chat GPT company Open AI is planning a stock market listing in the fourth quarter of 2026, writes the Wall Street Journal, citing sources with insight. According to them, the aim is to get ahead of competitor Anthropic.

An IPO could help Open AI strengthen market confidence after investors questioned how the company will finance infrastructure and chip deals worth hundreds of billions of dollars, writes the WSJ.

Open AI is in the middle of a financing round that could value the company at up to $830 billion, equivalent to SEK 7,326 billion.

The future of Apple
Apple grew 38 percent in China: “Significantly more than expected”

Apple's sales in China, Hong Kong and Taiwan surged a combined 38 percent to $25.53 billion. Expectations were $21.82 billion, according to Bloomberg.

According to CEO Tim Cook, the development was driven by strong iPhone sales and other products. He describes the boost as “significantly greater than expected”.

Apple set a record in China for how many existing iPhone users switched to a new model, and at the same time saw a double-digit increase in new customers who previously had phones from other brands, Cook told CNBC. 

Budget crisis in the US
Senators again in clinche over ICE – vote postponed

Late Thursday evening local time, negotiations to avoid a new shutdown of the US government apparatus ran into trouble again after senators from both parties disagreed, reports ABC News.

Funding for the Department of Homeland Security is once again the issue the parties are stuck on, according to The Hill. According to the agreement, that funding will be discussed separately.

Republican Senator Lindsey Graham, however, is demanding full funding for the department, claiming that the heavily criticized immigration agency ICE agents are being treated unfairly.

“The police need us right now. They are being demonized. People are spitting on them. They can’t sleep at night.”

Senate Minority Leader Chuck Schumer was critical of the delayed vote.

“Republicans need to step up,” he told reporters as senators left the Capitol late Thursday night.

The parties have another chance to vote on Friday. The existing budget agreement expires at midnight.