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2021-08-06

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Why didn't the White House invite Musk?

2021-08-02

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2021-07-28

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Shopify Q2 Revenue of $1.119 Billion, Net Income of $879 Million

2021-07-24

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Being subject to administrative punishment! Tencent was ordered to lift the exclusive copyright of online music

2021-07-22

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Southwest Airlines' second-quarter revenue was US $4.01 billion, and EPS turned into a loss year-on-year

2021-07-21

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2021-07-20

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2021-07-20

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Fed Watch: Biden may reappoint Powell, inflation concerns mount

2021-07-20

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Fed Watch: Biden may reappoint Powell, inflation concerns mount

2021-07-18

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OPEC + agrees to increase oil production, ending current stalemate

2021-07-18

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2021-07-17

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2021-07-16

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What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks

2021-07-14

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Compass Minerals shares rises 17% in early trading

2021-07-12

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2021-07-12

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2021-07-10

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2021-07-10

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2021-07-10

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2021-05-20

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U.S. stocks drop after Fed minutes, crypto fall

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10:00","market":"us","language":"zh","title":"Why didn't the White House invite Musk?","url":"https://stock-news.laohu8.com/highlight/detail?id=2157576024","media":"阿聪随笔","summary":"马斯克很生气，发推抗议。","content":"<p>Unique lack<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>, Biden invited GM, Ford and other giants to discuss electric vehicle plans, Musk: It's a bit weird The author of \"The Biography of Jobs\" will write a biography for Musk Musk: Maybe one day I will write an autobiography. \"Big news\", attracted a bunch of car companies, but did not invite Tesla, Musk complained: \"It's strange\" that new energy vehicles lag behind China and Europe, and the Biden administration formulated radical policies to catch up with new energy. Source: A Cong Essays</p><p>Biden wants to support traditional car companies in order to support the economic development of swing states. In addition, Musk's investment in digital currency may also be the last straw that affects him.</p><p>The United States held a meeting to formulate a new energy vehicle development strategy, provide industry support, and invite industry representatives. As a result, several executives of traditional car companies were invited, but Musk of Tesla was not invited. Musk was angry and tweeted to protest.</p><p>In terms of Tesla's North American sales, except for Chevrolet, which can sell a fraction of Tesla's sales, no one else in the United States can see it on the list at all. Holding an electric vehicle conference in the United States and inviting a manufacturing boss without calling it Tesla is like holding an all-star table tennis game without inviting Chinese players. It's no wonder Musk is wronged.</p><p>The White House later explained that because Musk opposed unions, Biden Sr. supported unions. I guess this explanation is also a way that I have been thinking about for a long time, and it is indeed a bit unreasonable. But why didn't Biden invite Tesla after all?</p><p>First, to support the economic development of swing states</p><p>Engaging in new energy vehicles is to appease the fundamentals of environmental protection, and it is also a rare consensus area for international cooperation. But the development of new energy vehicles is likely to stimulate the northern swing states, especially the red necks of Michigan. Michigan's horror night, DEM can't be forgotten, and Pennsylvania and Wisconsin also have a large number of industrial workers. What these people don't like most is environmental protection. When low-carbon emission reduction is carried out, all rice checks are gone.</p><p>In 2016, Hillary's overly aggressive performance on energy made the entire Northeast red. This puts the elder Biden two steps forward and one step back in terms of energy attitude. Lao Chuan needs to build an impossible alliance between educated conscientious conservatives and unemployed manic red-necked workers, and Biden also needs to build an impossible alliance between green little fresh people who love environmental protection and red-necked workers who mine coal.</p><p>Facts have proved that the DEM must not lose the northern swing states, and the highlight of the decisive battle on Capitol Hill in 2022 is also here. This not only makes Biden take risks in the debate but also oppose Sandezi's New Green Deal (this is the most legendary point in the entire debate. Few people make such a clear statement on a controversial issue. Biden is betting on environmentalists. There is common sense, which almost makes Lao Chuan speechless), and even makes Bai Lao actively recruit the bosses of traditional car companies when he is promoting the new energy revolution.</p><p>All in all, the so-called new energy vehicles replace fuel vehicles, and it is best to replace fuel vehicles with new energy vehicles from Ford and General Motors. If these Adou really can't help them, they can't let them<a href=\"https://laohu8.com/S/603883\">Common people</a>Think industrial upgrading is california to eat northeastern work.</p><p>2. Fight back against Musk's investment in digital currency</p><p>I have always believed that Musk's use of huge popularity to invest in digital currencies may seriously affect Tesla's development. In hindsight, this is not only because the energy consumption of digital currency may not be compatible with Tesla's image of carbon reduction, but also because digital currency itself threatens the right to mint coins and is not liked by regulators.</p><p>Although it is impossible for the White House to admit that it did not invite Musk because Musk bought coins (one yard to one yard, after all, this is an electric car conference), this may be the last straw that affects Musk.</p><p>Fans who support digital currency will always say that currency consumes much less energy than paper money and gold in the world. The problem is that the paper money and gold system are the foundation of national leaders. You can't want to shake this foundation while expecting leaders to come up with policies to support you every day. It's one thing to go against the trend and set up a rebellious person, but it's another thing to really rebel. (Combating the currency circle is one of the few consensuses of DEM and GOP)</p><p>Of course, electric vehicles are an industry that depends on policies, just as low carbon is the policy orientation. You must know that the engine emission standards of fuel vehicles are originally a policy. If there are no restrictions on emission standards, the cost of fuel vehicles will drop significantly. When the owner of electric vehicles opposes the policy, he will never get good results. Lao Ma still knew about having a relationship with Lao Chuan in 2016, but it really floated in 2020.</p><p>3. But actually it's okay not to invite</p><p>First of all, the coverage rate of electric vehicles in the United States will reach XXX in 20XX. As long as the spectators are satisfied with this kind of thing. You must know that this is just an executive order. The executive order is valid for four years, and the coverage rate will reach XXX in 2030, just like the seller's research report predicting the revenue of XXX in 2060. If Biden loses in 2024 (this guy probably won't be able to find someone else to replace him, so he can only do it himself), all his policies will be a piece of waste paper. What's more, this policy of not even going to both houses. If you lost in 2028, it will be a piece of waste paper after that.</p><p>This policy is not even as good as a border wall. Lao Bai really doesn't dare to tear down the border wall built before. This will not only confirm the Open border, but also be criticized for wasting money. But with the support of oil capital, the next commander can cancel all preferential tram policies.</p><p>Secondly, there are no particularly specific policies to look forward to on the federal side. Subsidies cannot be targeted to attack a certain car company, and Tesla will enjoy local policies.</p><p>Of course, this incident also reminds the new forces of new energy vehicles-sell cars if you sell cars, and don't mess with anything else.</p>","source":"sina","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why didn't the White House invite Musk?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy didn't the White House invite Musk?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">阿聪随笔</strong><span class=\"h-time small\">2021-08-06 10:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Unique lack<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>, Biden invited GM, Ford and other giants to discuss electric vehicle plans, Musk: It's a bit weird The author of \"The Biography of Jobs\" will write a biography for Musk Musk: Maybe one day I will write an autobiography. \"Big news\", attracted a bunch of car companies, but did not invite Tesla, Musk complained: \"It's strange\" that new energy vehicles lag behind China and Europe, and the Biden administration formulated radical policies to catch up with new energy. Source: A Cong Essays</p><p>Biden wants to support traditional car companies in order to support the economic development of swing states. In addition, Musk's investment in digital currency may also be the last straw that affects him.</p><p>The United States held a meeting to formulate a new energy vehicle development strategy, provide industry support, and invite industry representatives. As a result, several executives of traditional car companies were invited, but Musk of Tesla was not invited. Musk was angry and tweeted to protest.</p><p>In terms of Tesla's North American sales, except for Chevrolet, which can sell a fraction of Tesla's sales, no one else in the United States can see it on the list at all. Holding an electric vehicle conference in the United States and inviting a manufacturing boss without calling it Tesla is like holding an all-star table tennis game without inviting Chinese players. It's no wonder Musk is wronged.</p><p>The White House later explained that because Musk opposed unions, Biden Sr. supported unions. I guess this explanation is also a way that I have been thinking about for a long time, and it is indeed a bit unreasonable. But why didn't Biden invite Tesla after all?</p><p>First, to support the economic development of swing states</p><p>Engaging in new energy vehicles is to appease the fundamentals of environmental protection, and it is also a rare consensus area for international cooperation. But the development of new energy vehicles is likely to stimulate the northern swing states, especially the red necks of Michigan. Michigan's horror night, DEM can't be forgotten, and Pennsylvania and Wisconsin also have a large number of industrial workers. What these people don't like most is environmental protection. When low-carbon emission reduction is carried out, all rice checks are gone.</p><p>In 2016, Hillary's overly aggressive performance on energy made the entire Northeast red. This puts the elder Biden two steps forward and one step back in terms of energy attitude. Lao Chuan needs to build an impossible alliance between educated conscientious conservatives and unemployed manic red-necked workers, and Biden also needs to build an impossible alliance between green little fresh people who love environmental protection and red-necked workers who mine coal.</p><p>Facts have proved that the DEM must not lose the northern swing states, and the highlight of the decisive battle on Capitol Hill in 2022 is also here. This not only makes Biden take risks in the debate but also oppose Sandezi's New Green Deal (this is the most legendary point in the entire debate. Few people make such a clear statement on a controversial issue. Biden is betting on environmentalists. There is common sense, which almost makes Lao Chuan speechless), and even makes Bai Lao actively recruit the bosses of traditional car companies when he is promoting the new energy revolution.</p><p>All in all, the so-called new energy vehicles replace fuel vehicles, and it is best to replace fuel vehicles with new energy vehicles from Ford and General Motors. If these Adou really can't help them, they can't let them<a href=\"https://laohu8.com/S/603883\">Common people</a>Think industrial upgrading is california to eat northeastern work.</p><p>2. Fight back against Musk's investment in digital currency</p><p>I have always believed that Musk's use of huge popularity to invest in digital currencies may seriously affect Tesla's development. In hindsight, this is not only because the energy consumption of digital currency may not be compatible with Tesla's image of carbon reduction, but also because digital currency itself threatens the right to mint coins and is not liked by regulators.</p><p>Although it is impossible for the White House to admit that it did not invite Musk because Musk bought coins (one yard to one yard, after all, this is an electric car conference), this may be the last straw that affects Musk.</p><p>Fans who support digital currency will always say that currency consumes much less energy than paper money and gold in the world. The problem is that the paper money and gold system are the foundation of national leaders. You can't want to shake this foundation while expecting leaders to come up with policies to support you every day. It's one thing to go against the trend and set up a rebellious person, but it's another thing to really rebel. (Combating the currency circle is one of the few consensuses of DEM and GOP)</p><p>Of course, electric vehicles are an industry that depends on policies, just as low carbon is the policy orientation. You must know that the engine emission standards of fuel vehicles are originally a policy. If there are no restrictions on emission standards, the cost of fuel vehicles will drop significantly. When the owner of electric vehicles opposes the policy, he will never get good results. Lao Ma still knew about having a relationship with Lao Chuan in 2016, but it really floated in 2020.</p><p>3. But actually it's okay not to invite</p><p>First of all, the coverage rate of electric vehicles in the United States will reach XXX in 20XX. As long as the spectators are satisfied with this kind of thing. You must know that this is just an executive order. The executive order is valid for four years, and the coverage rate will reach XXX in 2030, just like the seller's research report predicting the revenue of XXX in 2060. If Biden loses in 2024 (this guy probably won't be able to find someone else to replace him, so he can only do it himself), all his policies will be a piece of waste paper. What's more, this policy of not even going to both houses. If you lost in 2028, it will be a piece of waste paper after that.</p><p>This policy is not even as good as a border wall. Lao Bai really doesn't dare to tear down the border wall built before. This will not only confirm the Open border, but also be criticized for wasting money. But with the support of oil capital, the next commander can cancel all preferential tram policies.</p><p>Secondly, there are no particularly specific policies to look forward to on the federal side. Subsidies cannot be targeted to attack a certain car company, and Tesla will enjoy local policies.</p><p>Of course, this incident also reminds the new forces of new energy vehicles-sell cars if you sell cars, and don't mess with anything else.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/blockchain/roll/2021-08-06/doc-ikqcfncc1242090.shtml\">阿聪随笔</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fb3952e78c4c7330e4960d16950edf07","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://finance.sina.com.cn/blockchain/roll/2021-08-06/doc-ikqcfncc1242090.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2157576024","content_text":"独缺特斯拉，拜登邀通用、福特等巨头共商电动车计划，马斯克：有点诡异《乔布斯传》作者将为马斯克写传记 马斯克：也许有一天我会写自传拜登给新能源车搞了个“大新闻”，拉来一堆车企，却没请特斯拉，马斯克吐槽：“真奇怪”新能源车落后中国和欧洲，拜登政府制定激进政策追赶新能源又有大利好，拜登放话：新车一半将是新能源车！\n\n来源： 阿聪随笔\n拜登想要扶持传统车企，为了支持摇摆州经济发展。此外，马斯克投资数字货币也可能是影响他的最后一根稻草。\n美国开会制定新能源车发展策略，给予产业扶持，邀请产业界代表，结果邀请的是几个传统车企的高管，却不邀请特斯拉的马斯克。马斯克很生气，发推抗议。\n从特斯拉北美区销量而言，美国本土电动汽车除了雪佛兰可以卖特斯拉的零头，其他人在榜单上根本看不到。在美国开电动车会议请制造业老板却不叫特斯拉，就好比搞乒乓球全明星赛不邀请中国球员。这也难怪马斯克很委屈。\n后来白宫的解释是，因为马斯克反对工会，老拜登支持工会。我估计这个解释也是憋了好久想的办法，确实有点说不过去了。但为啥拜登终究没有邀请特斯拉呢？\n一、要支持摇摆州经济发展\n搞新能源车是安抚环保基本盘，也是开展国际合作的罕有共识领域。但搞新能源车很可能刺激到北方摇摆州，特别是密歇根的红脖子。密歇根惊魂夜，DEM是无法忘怀的，而宾州和威斯康辛也有大量的产业工人。这些人最看不惯的就是环保，低碳减排搞起来，饭碗支票全没了。\n2016年，希拉里在能源方面过于激进的表演，使得整个东北部变得红彤彤。这使得老拜登在能源态度方面进两步退一步。老川需要建立一个受教育的良心保守派和没工作的狂躁红脖子不可能的联盟，拜登也需要建立一个爱环保的绿色小清新，和挖煤的红脖工人之间不可能的联盟。\n事实证明，DEM绝不能丧失北方摇摆州，而2022年国会山的决战看点也在这里。这不仅使得拜登在辩论中不惜冒险也要反对三德子的New Green Deal（这一点是整个辩论最传奇的一点，极少有人在一个争议问题上这么明确表态。拜登在豪赌环保派有常识，这几乎令老川哑口无言），更令拜老在推新能源革命时，却积极拉上传统车企的老板。\n总而言之，所谓新能源车替代燃油车，最好是福特、通用的新能源车替代燃油车。这些阿斗实在扶不起的话，也不能让老百姓认为产业升级就是加州去吃东北部的工作。\n二、回击马斯克投资数字货币\n我一直认为马斯克利用巨大的人望投资数字货币，可能严重影响特斯拉的发展。事后看，这不仅是因为数字货币的能源消耗可能无法和特斯拉减碳的形象兼容，更因为数字货币本身威胁铸币权，为监管所不喜。\n尽管白宫怎么都不可能承认不邀请马斯克是因为马斯克买币（一码归一码，毕竟这是个电动车会议），但这可能是影响马斯克的最后一根稻草。\n拥护数字货币的粉丝总会说，币的耗能比全球的纸币和黄金要少多了。问题在于，纸币和黄金体系是各国领导立身的根本。你不能一边想动摇这个根本，一边又指望领导天天出政策支持你。反潮流，叛逆人设是一回事，真的去叛逆就是另一回事。（打击币圈是DEM和GOP的少数共识之一）\n电动车当然是一个依赖于政策的行业，正如低碳这件事情本来就是政策取向。要知道燃油车的发动机排放标准本来就是一种政策，如果没有排放标准的限制，燃油车的成本会明显下降。电动车的老板去反政策，从来都是讨不到好果子的。老马在2016年尚且知道和老川搞关系，2020年真的就飘了。\n三、但其实不邀请也没什么\n首先美国的什么20XX年电动车覆盖率达到XXX，这种事情看客满意就好。要知道这就只是一个行政令罢了，行政令这种东西四年有效期，2030年覆盖率到XXX就好像卖方研究报告预测2060年收入XXX一样。如果2024年拜登输了（这哥们估计找不到别人替代，只能自己上），所有他的政策都是废纸一张。更何况这种连两院都不去的政策。2028年输了，之后也是废纸一张。\n这个政策连边境墙都不如。老拜现在还真不敢拆了以前建立的边境墙，这样不仅坐实了Open边境，更会被批评浪费钱。但在石油资本的支持下，下一任统领可以把所有优惠电车政策全部取消。\n其次联邦这边也没有什么特别具体的政策可以期待。补贴这种东西也不能定向打击某个车企，地方的政策特斯拉都会享受。\n当然这件事情也给新能源车新势力提了个醒——卖车就卖车，别乱搞别的。","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1890,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805496085,"gmtCreate":1627896639647,"gmtModify":1703497406381,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/805496085","repostId":"1187558503","repostType":4,"isVote":1,"tweetType":1,"viewCount":2313,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801039402,"gmtCreate":1627471320006,"gmtModify":1703490578655,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/801039402","repostId":"1120839532","repostType":4,"repost":{"id":"1120839532","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627470418,"share":"https://ttm.financial/m/news/1120839532?lang=en_US&edition=fundamental","pubTime":"2021-07-28 19:06","market":"us","language":"zh","title":"Shopify Q2 Revenue of $1.119 Billion, Net Income of $879 Million","url":"https://stock-news.laohu8.com/highlight/detail?id=1120839532","media":"老虎资讯综合","summary":"7月28日盘前，Shopify发布2021年第二季度业绩。财报显示，第二季度营收11.19亿美元，市场预期10.40亿美元，去年同期7.14亿美元；第二季度净利润8.79亿美元，市场预期净亏损0.06","content":"<p>Before the market opens on July 28,<a href=\"https://laohu8.com/S/SHOP\">Shopify</a>Release Second Quarter 2021 Results. The financial report shows that revenue in the second quarter was US $1.119 billion, market expectations were US $1.040 billion, and US $714 million in the same period last year; The net profit in the second quarter was US $879 million, the market expected a net loss of US $6 million, and the net profit in the same period last year was US $36 million; Earnings per share in the second quarter were $6.9.</p><p>Merchandise transactions in the second quarter totaled $42.2 billion, an increase of $12.1 billion or 40% from the second quarter of 2020.</p><p>Gross profit is expected to grow rapidly in 2021.</p><p><img src=\"https://static.tigerbbs.com/ef0a09a03a21c9126d19710016b32d39\" tg-width=\"828\" tg-height=\"935\" referrerpolicy=\"no-referrer\"></p><p>After the financial report was released, Shopify fell 0.59% to $1,546 before the market.</p><p><img src=\"https://static.tigerbbs.com/a16e1d00d455df9e3298009f04ef5041\" tg-width=\"898\" tg-height=\"894\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Shopify Q2 Revenue of $1.119 Billion, Net Income of $879 Million</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShopify Q2 Revenue of $1.119 Billion, Net Income of $879 Million\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-28 19:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Before the market opens on July 28,<a href=\"https://laohu8.com/S/SHOP\">Shopify</a>Release Second Quarter 2021 Results. The financial report shows that revenue in the second quarter was US $1.119 billion, market expectations were US $1.040 billion, and US $714 million in the same period last year; The net profit in the second quarter was US $879 million, the market expected a net loss of US $6 million, and the net profit in the same period last year was US $36 million; Earnings per share in the second quarter were $6.9.</p><p>Merchandise transactions in the second quarter totaled $42.2 billion, an increase of $12.1 billion or 40% from the second quarter of 2020.</p><p>Gross profit is expected to grow rapidly in 2021.</p><p><img src=\"https://static.tigerbbs.com/ef0a09a03a21c9126d19710016b32d39\" tg-width=\"828\" tg-height=\"935\" referrerpolicy=\"no-referrer\"></p><p>After the financial report was released, Shopify fell 0.59% to $1,546 before the market.</p><p><img src=\"https://static.tigerbbs.com/a16e1d00d455df9e3298009f04ef5041\" tg-width=\"898\" tg-height=\"894\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5d11890cd6ccd454a56d86737fd3353","relate_stocks":{"SHOP":"Shopify Inc"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120839532","content_text":"7月28日盘前，Shopify发布2021年第二季度业绩。财报显示，第二季度营收11.19亿美元，市场预期10.40亿美元，去年同期7.14亿美元；第二季度净利润8.79亿美元，市场预期净亏损0.06亿美元，去年同期净利润0.36亿美元；第二季度每股盈利6.9美元。\n第二季度的商品交易总额为422亿美元，比2020年第二季度增加了121亿美元，增幅为40%。\n预计2021年毛利润将快速增长。\n\n财报发布后，Shopify盘前跌0.59%，报1546美元。","news_type":1,"symbols_score_info":{"SHOP":0.9}},"isVote":1,"tweetType":1,"viewCount":2568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174686621,"gmtCreate":1627095192063,"gmtModify":1703484169289,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/174686621","repostId":"1170350340","repostType":4,"repost":{"id":"1170350340","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627092098,"share":"https://ttm.financial/m/news/1170350340?lang=en_US&edition=fundamental","pubTime":"2021-07-24 10:01","market":"sh","language":"zh","title":"Being subject to administrative punishment! Tencent was ordered to lift the exclusive copyright of online music","url":"https://stock-news.laohu8.com/highlight/detail?id=1170350340","media":"老虎资讯综合","summary":"腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。","content":"<p>Tencent responded to being ordered to lift the exclusive copyright of online music: the company will conscientiously abide by the decision, strictly implement regulatory requirements, operate in compliance with laws and regulations, earnestly fulfill social responsibilities, and maintain healthy competition in the market. Tencent will consolidate its responsibilities, formulate corrective measures plans with affiliated companies such as Tencent Music within the prescribed time limit, and complete them to the letter in accordance with the requirements of the penalty decision to ensure that the rectification is in place.</p><p>The State Administration for Market Regulation made an administrative penalty decision in accordance with the law, ordering Tencent and its affiliated companies to cancel exclusive music copyrights within 30 days, stop paying copyright fees such as high prepayments, and not require upstream copyright owners to give them conditions that are superior to competitors without justifiable reasons. and other measures to restore market competition. In January 2021, according to the report, the State Administration for Market Regulation launched an investigation into Tencent Holdings Co., Ltd. (hereinafter referred to as Tencent) 's acquisition of equity in China Music Group in July 2016 for suspected illegal concentration of operators.</p><p>In accordance with the Anti-Monopoly Law, the State Administration for Market Regulation found out the fact that this transaction illegally implemented concentration, and fully evaluated factors such as the share, control, concentration of the operators participating in the concentration in the relevant market, as well as the impact of concentration on market entry and consumers. At the same time, it extensively solicited opinions from relevant government departments, industry associations, experts and scholars, and competitors in the same industry, and listened to Tencent's statements many times.</p><p>The investigation shows that the relevant market in this case is the online music playback platform market in China. Genuine music copyright is the core asset and key resource of the operation of online music playing platform. In 2016, Tencent and China Music Group had about 30% and 40% in the relevant market shares, respectively. Tencent gained a higher market share by merging with its main competitors in the market. After concentration, the entity occupied more than 80% of the exclusive music library resources, which may be able to urge the upstream copyright owners to reach more exclusive copyright agreements with them, or require them to be given better trading conditions than their competitors, or raise market entry barriers by paying high advance payment and other copyright payment modes, which has or may have the effect of excluding and restricting competition in the relevant market.</p><p>According to Article 48 of the Anti-Monopoly Law and Article 57 of the Interim Provisions on the Examination of Concentration of Business Enterprises, and in accordance with the principle of paying equal attention to development and standardization, the State Administration for Market Regulation made an administrative penalty decision in accordance with the law, ordering Tencent and its affiliated companies to take measures to restore market competition, such as canceling exclusive music copyright within 30 days, stopping payment methods of copyright fees such as high advance payments, and not requiring upstream copyright owners to give them conditions superior to competitors without justifiable reasons. Tencent will report the performance of its obligations to the State Administration for Market Regulation every year within three years, and the State Administration for Market Regulation will strictly supervise its implementation in accordance with the law.</p><p>This case is the first case since the implementation of China's Anti-Monopoly Law in which necessary measures have been taken to restore market competition against the illegal concentration of business operators. Measures such as ordering Tencent to lift exclusive copyright will reshape the competition order in relevant markets, lower barriers to market entry, and give competitors a fair opportunity to reach upstream copyright resources, which will help return the focus of competition from using capital advantages to grab copyright resources to innovative service level and improve the rational track of user experience; It is conducive to promoting a reasonable way to calculate copyright fees in line with international standards and reduce downstream operating costs; It is conducive to cultivating new market entrants, creating a fairer competitive environment for existing enterprises, protecting consumers' right to choose, ultimately benefiting consumers, and promoting the standardized, innovative and healthy development of online music industry.</p><p>The following is the full text of the penalty letter:</p><p>State Administration for Market Regulation</p><p>Decision on administrative penalty</p><p>Guo Municipal Supervision Office [2021] No. 67</p><p>Parties: Tencent Holdings Limited</p><p>Residence: Creech Place, Huggins Avenue, Cayman Islands</p><p>In accordance with the \"Anti-Monopoly Law of the People's Republic of China\" (hereinafter referred to as the \"Anti-Monopoly Law\") and the \"Interim Provisions on the Examination of Concentration of Business Enterprises\", on January 25, 2021, this agency investigated the acquisition of China Music Group's equity by Tencent Holdings Co., Ltd. (hereinafter referred to as Tencent) for suspected illegal implementation of concentration of business operators.</p><p>After investigation, the case constitutes an illegal concentration of business operators, which has or may have the effect of excluding or restricting competition. In accordance with the provisions of the Administrative Punishment Law of the People's Republic of China (hereinafter referred to as the Administrative Punishment Law), this organ serves the Notice of Administrative Punishment to Tencent, informing it of the content, facts, reasons and basis of the proposed administrative punishment, and informing it of its legal rights to make statements, defend and request a hearing. Tencent did not make a statement, defense or request a hearing within the prescribed time limit. The investigation and trial of this case have been concluded.</p><p><ul><li>Basic information</li></ul><b>(1) Transaction parties.</b></p><p><b>Acquirer: Tencent.</b>It was incorporated in the British Virgin Islands in November 1999, relocated to the British Cayman Islands in February 2004, listed on the Hong Kong Stock Exchange in June 2004, and controlled Shenzhen Tencent Computer Systems Co., Ltd., the main domestic operating entity, through an agreement. The main businesses include social and communication services, social networking platforms, online music platforms, games, online video services, interactive entertainment live broadcasts, etc. In 2015, the global turnover was 102.863 billion yuan (the same currency below), and the domestic turnover in China was 96.251 billion yuan.</p><p><b>Acquired party: China Music Group.</b>Incorporated in the Cayman Islands in 2012, it controls Ocean Interactive (Beijing) Information Technology Co., Ltd., a major domestic operating entity, through an agreement. The main business includes online music platform, record company publishing business, copyright agency business, etc. Natural persons (omitted) have joint control as parties acting in concert. In 2015, the global and domestic turnover in China were (omitted).</p><p><b>(2) Transaction overview.</b></p><p>On July 12, 2016, Tencent invested in China Music Group with its valued (omitted) business (mainly QQ music business), acquired 61.64% equity of China Music Group, and obtained sole control of China Music Group. In December 2016, the integrated China Music Group was renamed Tencent Music Entertainment Group. On December 6, 2017, the transaction completed the registration procedures for equity change.</p><p>II. Illegal facts and reasons</p><p><b>(1) This case constitutes an illegal concentration of business operators.</b></p><p>Article 20 of the Anti-Monopoly Law stipulates that \"concentration of operators refers to the following situations: (1) merger of operators; (2) Operators obtain control over other operators by acquiring equity or assets; (3) Operators obtain control over other operators through contracts or other means or can exert decisive influence on other operators\". Before this concentration, China Music Group was jointly controlled by natural persons (omitted). After this concentration, Tencent acquired 61.64% equity of China Music Group and obtained sole control over China Music Group, which belongs to the concentration of operators stipulated in Article 20 of the Anti-Monopoly Law.</p><p>Tencent's global turnover in 2015 was 102.863 billion yuan, and its domestic turnover in China was 96.251 billion yuan. China Music Group's global and domestic turnover in 2015 were both (omitted), meeting the reporting standards stipulated in Article 3 of the Regulations of the State Council on the Declaration Standards for Concentration of Business Operators, which is a situation that should be reported.</p><p>Article 21 of the Anti-Monopoly Law stipulates that \"if the concentration of business operators meets the reporting standards prescribed by the State Council, the business operators shall report to the anti-monopoly law enforcement agency of the State Council in advance, and the concentration shall not be implemented if the concentration is not reported\". On December 6, 2017, Tencent completed the registration of equity change. Before that, it failed to report to this authority, which violated the provisions of Article 21 of the Anti-Monopoly Law and constituted an illegal concentration of operators.</p><p>The above facts are proved by evidence such as a copy of Tencent's business license, organizational structure chart, equity relationship chart, Declaration Form for Anti-monopoly Examination of Concentration of Business Operators, Tencent's annual report, Written Explanation of Tencent's Relevant Issues, and Share Subscription Agreement.</p><p><b>(2) This case has or may have the effect of excluding or restricting competition.</b></p><p>According to the provisions of the Anti-Monopoly Law and the Guidelines of the Anti-Monopoly Committee of the State Council on the Definition of Relevant Markets, and taking into account the characteristics of the platform economy, based on economic analysis and questionnaire survey, the relevant market in this case is defined as the domestic online music playback platform market in China where there is horizontal overlap between the two parties to the transaction.<b>Online music playback platform market</b>It refers to a platform that provides consumers with complete copyrighted music recording playback services through online playback or download through programs or websites of computers, mobile phones or other intelligent terminals. Although online karaoke, live webcast, short video platforms, etc. also provide services related to online music, their core functions, application scenarios, business models, market entry, etc. do not have a close substitution relationship with the online music playback platform market, and do not belong to the same related commodity market. As the authorization of music copyright is restricted by the copyright laws of various countries, and there are obvious regional differences, the scope of music copyright dissemination authorized by online music playing platforms in China is generally within China, and it is mainly for users within China, so the relevant geographical market is defined as within China.</p><p>After in-depth research, this concentration has or may have the effect of eliminating and restricting competition in the online music playing platform market in China:</p><p><ol><li><b>After concentration, the entity has a higher market share in the relevant market.</b></li></ol>When the concentration occurred in July 2016, the number of monthly active users of Tencent and China Music Group was 160 million and 230 million respectively, with market shares of 33.96% and 49.07% respectively; The monthly usage time of users is 805 million hours and 698 million hours respectively, and the market shares are 45.77% and 39.65% respectively. Both parties in the concentration rank among the top two in the market, with a total market share of more than 80%. In 2016, the total sales amount of both parties in the relevant market was (omitted), accounting for about 70% of the total revenue of the relevant market. Calculated by the share of music copyright core resources, the number of music libraries of Tencent and China Music Group is 12.1 million and 8.21 million respectively, of which 3.14 million and 1.3 million are exclusive music libraries, and the market share of music libraries and exclusive resources exceeds 80%.</p><p>From the analysis of the Herfindahl-Hirschman Index (HHI Index) of this market, it is 6950 after trading, which is a highly concentrated market, and the increment generated by concentration is 3350. The transaction has further increased the concentration of the relevant market and further weakened competition.</p><p><ol><li><b>Focus on reducing major competitors in relevant markets.</b></li></ol>According to the survey, before the transaction, the concentrated parties ranked the top two in the market, with equal competitive strength and close competition with each other. According to consumers' choice of flow between alternative platforms, 73.6% of users of QQ Music owned by Tencent have flowed to Kugou Music and Kuwo Music owned by China Music Group, indicating that if QQ Music raises prices or lowers service levels, 73.6% of users may flow to the platforms owned by China Music Group, and the two sides are relatively close competitors with each other. Focus on reducing major competitors in relevant markets and further weakening market competition.</p><p><ol><li><b>Concentration may further increase barriers to entry in relevant markets.</b></li></ol><b>First, it is possible to raise barriers to copyright resources.</b>When the entity locks in more exclusive copyright resources after concentration, new entrants have to rely on their sub-licensing, which makes it difficult to enter the relevant market. The market size brought about by concentration also enables it to pay copyright fees to upstream copyright owners by paying high non-refundable prepayments in advance, which may further increase market entry barriers.</p><p><b>Second, it may increase user conversion costs.</b>Focus on bringing Tencent more abundant music library resources, a larger user scale and sufficient usage data. Compared with new platforms, it can recommend songs that meet consumers' preferences better, resulting in a reduction in users' willingness to switch platforms, thereby further expanding the user scale, which may prevent other competitors from reaching or maintaining critical scale.</p><p><b>Third, after concentration, the market entry activity is not high.</b>The data shows that the main entry of the online music playback platform market occurred from the beginning of 2016 to July 2017. After the centralized completion at the end of 2017, the market entry activity dropped significantly.</p><p>To sum up, Tencent has a high market share in the online music playing platform market in China through this item, which may enable it to urge the upstream copyright owner to grant it exclusive copyright authorization, or provide it with conditions superior to competitors, or may enable Tencent to raise market entry barriers by paying high advance payments, etc., which has or may have the effect of excluding and restricting competition in relevant markets.</p><p>At the same time, the survey found that China's online music playback platform market has developed rapidly, and the market share of Tencent's main competitors (omitted) has also shown a rapid growth, from less than 6% at the time of concentration to nearly 18%, an increase of about 200%, indicating that competitors have a tendency to strengthen their competitive constraints. In addition, there has been a certain trend of dynamic competition and cross-border integration between online music playback platforms and other platforms in recent years. Some short video platforms with a wide user base may become competitors in related markets in the future if they obtain a sufficient number of music copyright resources.</p><p>The above facts are proved by statistical data and industry analysis reports of third-party organizations, Questionnaire Survey Report, Economic Analysis Report, Authorization Agreement and Sub-Authorization Agreement provided by Tencent and related parties, and replies from relevant parties such as industry authorities.</p><p>III. Basis and decision of administrative punishment</p><p>Article 48 of the Anti-Monopoly Law stipulates that \"if an operator violates the provisions of this Law to implement concentration, the anti-monopoly law enforcement agency of the State Council shall order it to stop the concentration, dispose of shares or assets within a time limit, transfer business within a time limit, and take other necessary measures to restore it to the pre-concentration state, and may be fined not more than 500,000 yuan.\" Article 49 of the Anti-Monopoly Law stipulates that \"for the fines stipulated in Articles 46, 47 and 48 of this Law, the anti-monopoly law enforcement agency shall consider the nature, degree and duration of the illegal act when determining the specific amount of the fine\".</p><p>According to the above provisions, based on the above investigation and evaluation conclusion, this authority has made the following decisions on Tencent:</p><p><b>(1) Order Tencent and its affiliated companies to take the following measures to restore competition in relevant markets:</b></p><p>1. An exclusive copyright agreement (the copyright scope includes the information network dissemination right of all music works and sound recordings) or other exclusive agreements shall not be reached or reached in disguised form with the upstream copyright owner. If it has been reached, it shall be terminated within 30 days from the date of promulgation of this decision, except for the exclusive cooperation with independent musicians (natural persons who have authorized the copyright with the music platform in their own name and have never signed an agreement with any record company or brokerage company) or new songs. The exclusive cooperation period with independent musicians shall not exceed three years, and the exclusive cooperation period with new songs shall not exceed thirty days.</p><p>2. Without justifiable reasons, the upstream copyright owner shall not be required or disguised to give the parties conditions that are superior to other competitors, including but not limited to the scope of authorization, the amount of authorization, the period of authorization, etc., or any agreement or agreement terms related to it. If it has been reached, it shall be cancelled within 30 days from the date of promulgation of this decision.</p><p>3. Quote the upstream copyright owner based on factors such as the actual use of the copyright, user payment, unit price of the song, application scenarios, contract period, etc., and do not increase the cost of competitors in disguised form through high prepayments, etc., and exclude or restrict competition.</p><p><b>(2) A fine of 500,000 yuan shall be imposed.</b></p><p><b>(3) Declaring concentration of business operators in accordance with the law.</b></p><p>1. If the concentration of business operators meets the reporting standards stipulated by the State Council, it shall be reported to the State Administration for Market Regulation in advance, and the concentration shall not be implemented if the concentration is not reported.</p><p>2. If the concentration of business operators does not meet the reporting standards, but the concentration of business operators has or may have the effect of excluding or restricting competition, it shall be reported to the State Administration for Market Regulation in advance, and the concentration shall not be implemented if the concentration is not reported.</p><p>3. If the transaction does not constitute a concentration of operators, except for matters stipulated by law to protect the rights and interests of minority shareholders, it shall not participate in the business decision-making of relevant enterprises, and report the basic situation of the transaction to the State Administration for Market Regulation in the annual report.</p><p><b>(4) Operate in compliance with laws and regulations, and establish and improve a long-term mechanism for fair participation in market competition.</b></p><p>1. Comprehensively standardize its own competitive behavior, conduct comprehensive and in-depth self-examination according to the Anti-Monopoly Law, and examine and standardize its own business behavior.</p><p>2. Strictly implement the main responsibilities of platform enterprises, constantly improve the internal governance rules of the platform, and cooperate with other operators in accordance with the principles of fairness, reasonableness, and non-discrimination.</p><p>3. Improve the internal compliance control system of enterprises, establish and effectively implement the anti-monopoly compliance system, and consciously safeguard fair competition.</p><p>4. Protect the legitimate rights and interests of consumers. Fully protect consumers' rights, reasonably set charging prices, and protect consumers' privacy.</p><p>5. Actively maintain fair competition and promote industry innovation and development.</p><p>The period of the above measures starts from the date of issuance of the \"Administrative Punishment Decision\". Tencent and its affiliated companies must formulate a rectification plan based on the above measures within ten days and submit it to the State Administration for Market Regulation for review. The State Administration for Market Regulation has the right to inspect the performance of the above obligations by Tencent and its affiliated companies through supervising the trustee or self-supervision within three years. Tencent will report the performance of its obligations to the State Administration for Market Regulation every year within three years, and will not report after the expiration of three years.</p><p>Article 67 of the Administrative Punishment Law stipulates that \"the administrative organ that makes the fine decision shall be separated from the institution that collects the fine. Except for the fine collected on the spot in accordance with the provisions of Articles 68 and 69 of this Law, the administrative organ that makes the administrative punishment decision and its law enforcement officers shall not collect the fine by themselves. The party concerned shall pay the fine at the designated bank or through the electronic payment system within 15 days from the date of receiving the administrative punishment decision. The bank shall accept the fine and turn it over directly to the state treasury. \"</p><p>Within fifteen days from the date of receipt of this administrative penalty decision, the party concerned shall, in accordance with this administrative penalty decision, bring the payment code to any of the 12 central fiscal non-tax revenue collection agent banks (Industry, Agriculture, China, Construction, Communications, CITIC, Everbright, China Merchants, Postal Savings, Huaxia, Ping An, Industrial) or online banking to pay the fine. Payment code: * * *.</p><p>If the party concerned is dissatisfied with the above-mentioned administrative penalty decision, it may apply to the State Administration for Market Regulation for administrative reconsideration within 60 days from the date of receipt of this administrative penalty decision; Or within six months from the date of receipt of this administrative penalty decision, file an administrative lawsuit with the Beijing Intellectual Property Court according to law. During the period of administrative reconsideration or administrative litigation, the execution of this administrative punishment decision shall not be suspended.</p><p>State Administration for Market Regulation</p><p>July 24, 2021<img src=\"https://static.tigerbbs.com/670343de69414ca1b966fc90740b6559\" tg-width=\"1020\" tg-height=\"642\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Being subject to administrative punishment! Tencent was ordered to lift the exclusive copyright of online music</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBeing subject to administrative punishment! Tencent was ordered to lift the exclusive copyright of online music\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-24 10:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tencent responded to being ordered to lift the exclusive copyright of online music: the company will conscientiously abide by the decision, strictly implement regulatory requirements, operate in compliance with laws and regulations, earnestly fulfill social responsibilities, and maintain healthy competition in the market. Tencent will consolidate its responsibilities, formulate corrective measures plans with affiliated companies such as Tencent Music within the prescribed time limit, and complete them to the letter in accordance with the requirements of the penalty decision to ensure that the rectification is in place.</p><p>The State Administration for Market Regulation made an administrative penalty decision in accordance with the law, ordering Tencent and its affiliated companies to cancel exclusive music copyrights within 30 days, stop paying copyright fees such as high prepayments, and not require upstream copyright owners to give them conditions that are superior to competitors without justifiable reasons. and other measures to restore market competition. In January 2021, according to the report, the State Administration for Market Regulation launched an investigation into Tencent Holdings Co., Ltd. (hereinafter referred to as Tencent) 's acquisition of equity in China Music Group in July 2016 for suspected illegal concentration of operators.</p><p>In accordance with the Anti-Monopoly Law, the State Administration for Market Regulation found out the fact that this transaction illegally implemented concentration, and fully evaluated factors such as the share, control, concentration of the operators participating in the concentration in the relevant market, as well as the impact of concentration on market entry and consumers. At the same time, it extensively solicited opinions from relevant government departments, industry associations, experts and scholars, and competitors in the same industry, and listened to Tencent's statements many times.</p><p>The investigation shows that the relevant market in this case is the online music playback platform market in China. Genuine music copyright is the core asset and key resource of the operation of online music playing platform. In 2016, Tencent and China Music Group had about 30% and 40% in the relevant market shares, respectively. Tencent gained a higher market share by merging with its main competitors in the market. After concentration, the entity occupied more than 80% of the exclusive music library resources, which may be able to urge the upstream copyright owners to reach more exclusive copyright agreements with them, or require them to be given better trading conditions than their competitors, or raise market entry barriers by paying high advance payment and other copyright payment modes, which has or may have the effect of excluding and restricting competition in the relevant market.</p><p>According to Article 48 of the Anti-Monopoly Law and Article 57 of the Interim Provisions on the Examination of Concentration of Business Enterprises, and in accordance with the principle of paying equal attention to development and standardization, the State Administration for Market Regulation made an administrative penalty decision in accordance with the law, ordering Tencent and its affiliated companies to take measures to restore market competition, such as canceling exclusive music copyright within 30 days, stopping payment methods of copyright fees such as high advance payments, and not requiring upstream copyright owners to give them conditions superior to competitors without justifiable reasons. Tencent will report the performance of its obligations to the State Administration for Market Regulation every year within three years, and the State Administration for Market Regulation will strictly supervise its implementation in accordance with the law.</p><p>This case is the first case since the implementation of China's Anti-Monopoly Law in which necessary measures have been taken to restore market competition against the illegal concentration of business operators. Measures such as ordering Tencent to lift exclusive copyright will reshape the competition order in relevant markets, lower barriers to market entry, and give competitors a fair opportunity to reach upstream copyright resources, which will help return the focus of competition from using capital advantages to grab copyright resources to innovative service level and improve the rational track of user experience; It is conducive to promoting a reasonable way to calculate copyright fees in line with international standards and reduce downstream operating costs; It is conducive to cultivating new market entrants, creating a fairer competitive environment for existing enterprises, protecting consumers' right to choose, ultimately benefiting consumers, and promoting the standardized, innovative and healthy development of online music industry.</p><p>The following is the full text of the penalty letter:</p><p>State Administration for Market Regulation</p><p>Decision on administrative penalty</p><p>Guo Municipal Supervision Office [2021] No. 67</p><p>Parties: Tencent Holdings Limited</p><p>Residence: Creech Place, Huggins Avenue, Cayman Islands</p><p>In accordance with the \"Anti-Monopoly Law of the People's Republic of China\" (hereinafter referred to as the \"Anti-Monopoly Law\") and the \"Interim Provisions on the Examination of Concentration of Business Enterprises\", on January 25, 2021, this agency investigated the acquisition of China Music Group's equity by Tencent Holdings Co., Ltd. (hereinafter referred to as Tencent) for suspected illegal implementation of concentration of business operators.</p><p>After investigation, the case constitutes an illegal concentration of business operators, which has or may have the effect of excluding or restricting competition. In accordance with the provisions of the Administrative Punishment Law of the People's Republic of China (hereinafter referred to as the Administrative Punishment Law), this organ serves the Notice of Administrative Punishment to Tencent, informing it of the content, facts, reasons and basis of the proposed administrative punishment, and informing it of its legal rights to make statements, defend and request a hearing. Tencent did not make a statement, defense or request a hearing within the prescribed time limit. The investigation and trial of this case have been concluded.</p><p><ul><li>Basic information</li></ul><b>(1) Transaction parties.</b></p><p><b>Acquirer: Tencent.</b>It was incorporated in the British Virgin Islands in November 1999, relocated to the British Cayman Islands in February 2004, listed on the Hong Kong Stock Exchange in June 2004, and controlled Shenzhen Tencent Computer Systems Co., Ltd., the main domestic operating entity, through an agreement. The main businesses include social and communication services, social networking platforms, online music platforms, games, online video services, interactive entertainment live broadcasts, etc. In 2015, the global turnover was 102.863 billion yuan (the same currency below), and the domestic turnover in China was 96.251 billion yuan.</p><p><b>Acquired party: China Music Group.</b>Incorporated in the Cayman Islands in 2012, it controls Ocean Interactive (Beijing) Information Technology Co., Ltd., a major domestic operating entity, through an agreement. The main business includes online music platform, record company publishing business, copyright agency business, etc. Natural persons (omitted) have joint control as parties acting in concert. In 2015, the global and domestic turnover in China were (omitted).</p><p><b>(2) Transaction overview.</b></p><p>On July 12, 2016, Tencent invested in China Music Group with its valued (omitted) business (mainly QQ music business), acquired 61.64% equity of China Music Group, and obtained sole control of China Music Group. In December 2016, the integrated China Music Group was renamed Tencent Music Entertainment Group. On December 6, 2017, the transaction completed the registration procedures for equity change.</p><p>II. Illegal facts and reasons</p><p><b>(1) This case constitutes an illegal concentration of business operators.</b></p><p>Article 20 of the Anti-Monopoly Law stipulates that \"concentration of operators refers to the following situations: (1) merger of operators; (2) Operators obtain control over other operators by acquiring equity or assets; (3) Operators obtain control over other operators through contracts or other means or can exert decisive influence on other operators\". Before this concentration, China Music Group was jointly controlled by natural persons (omitted). After this concentration, Tencent acquired 61.64% equity of China Music Group and obtained sole control over China Music Group, which belongs to the concentration of operators stipulated in Article 20 of the Anti-Monopoly Law.</p><p>Tencent's global turnover in 2015 was 102.863 billion yuan, and its domestic turnover in China was 96.251 billion yuan. China Music Group's global and domestic turnover in 2015 were both (omitted), meeting the reporting standards stipulated in Article 3 of the Regulations of the State Council on the Declaration Standards for Concentration of Business Operators, which is a situation that should be reported.</p><p>Article 21 of the Anti-Monopoly Law stipulates that \"if the concentration of business operators meets the reporting standards prescribed by the State Council, the business operators shall report to the anti-monopoly law enforcement agency of the State Council in advance, and the concentration shall not be implemented if the concentration is not reported\". On December 6, 2017, Tencent completed the registration of equity change. Before that, it failed to report to this authority, which violated the provisions of Article 21 of the Anti-Monopoly Law and constituted an illegal concentration of operators.</p><p>The above facts are proved by evidence such as a copy of Tencent's business license, organizational structure chart, equity relationship chart, Declaration Form for Anti-monopoly Examination of Concentration of Business Operators, Tencent's annual report, Written Explanation of Tencent's Relevant Issues, and Share Subscription Agreement.</p><p><b>(2) This case has or may have the effect of excluding or restricting competition.</b></p><p>According to the provisions of the Anti-Monopoly Law and the Guidelines of the Anti-Monopoly Committee of the State Council on the Definition of Relevant Markets, and taking into account the characteristics of the platform economy, based on economic analysis and questionnaire survey, the relevant market in this case is defined as the domestic online music playback platform market in China where there is horizontal overlap between the two parties to the transaction.<b>Online music playback platform market</b>It refers to a platform that provides consumers with complete copyrighted music recording playback services through online playback or download through programs or websites of computers, mobile phones or other intelligent terminals. Although online karaoke, live webcast, short video platforms, etc. also provide services related to online music, their core functions, application scenarios, business models, market entry, etc. do not have a close substitution relationship with the online music playback platform market, and do not belong to the same related commodity market. As the authorization of music copyright is restricted by the copyright laws of various countries, and there are obvious regional differences, the scope of music copyright dissemination authorized by online music playing platforms in China is generally within China, and it is mainly for users within China, so the relevant geographical market is defined as within China.</p><p>After in-depth research, this concentration has or may have the effect of eliminating and restricting competition in the online music playing platform market in China:</p><p><ol><li><b>After concentration, the entity has a higher market share in the relevant market.</b></li></ol>When the concentration occurred in July 2016, the number of monthly active users of Tencent and China Music Group was 160 million and 230 million respectively, with market shares of 33.96% and 49.07% respectively; The monthly usage time of users is 805 million hours and 698 million hours respectively, and the market shares are 45.77% and 39.65% respectively. Both parties in the concentration rank among the top two in the market, with a total market share of more than 80%. In 2016, the total sales amount of both parties in the relevant market was (omitted), accounting for about 70% of the total revenue of the relevant market. Calculated by the share of music copyright core resources, the number of music libraries of Tencent and China Music Group is 12.1 million and 8.21 million respectively, of which 3.14 million and 1.3 million are exclusive music libraries, and the market share of music libraries and exclusive resources exceeds 80%.</p><p>From the analysis of the Herfindahl-Hirschman Index (HHI Index) of this market, it is 6950 after trading, which is a highly concentrated market, and the increment generated by concentration is 3350. The transaction has further increased the concentration of the relevant market and further weakened competition.</p><p><ol><li><b>Focus on reducing major competitors in relevant markets.</b></li></ol>According to the survey, before the transaction, the concentrated parties ranked the top two in the market, with equal competitive strength and close competition with each other. According to consumers' choice of flow between alternative platforms, 73.6% of users of QQ Music owned by Tencent have flowed to Kugou Music and Kuwo Music owned by China Music Group, indicating that if QQ Music raises prices or lowers service levels, 73.6% of users may flow to the platforms owned by China Music Group, and the two sides are relatively close competitors with each other. Focus on reducing major competitors in relevant markets and further weakening market competition.</p><p><ol><li><b>Concentration may further increase barriers to entry in relevant markets.</b></li></ol><b>First, it is possible to raise barriers to copyright resources.</b>When the entity locks in more exclusive copyright resources after concentration, new entrants have to rely on their sub-licensing, which makes it difficult to enter the relevant market. The market size brought about by concentration also enables it to pay copyright fees to upstream copyright owners by paying high non-refundable prepayments in advance, which may further increase market entry barriers.</p><p><b>Second, it may increase user conversion costs.</b>Focus on bringing Tencent more abundant music library resources, a larger user scale and sufficient usage data. Compared with new platforms, it can recommend songs that meet consumers' preferences better, resulting in a reduction in users' willingness to switch platforms, thereby further expanding the user scale, which may prevent other competitors from reaching or maintaining critical scale.</p><p><b>Third, after concentration, the market entry activity is not high.</b>The data shows that the main entry of the online music playback platform market occurred from the beginning of 2016 to July 2017. After the centralized completion at the end of 2017, the market entry activity dropped significantly.</p><p>To sum up, Tencent has a high market share in the online music playing platform market in China through this item, which may enable it to urge the upstream copyright owner to grant it exclusive copyright authorization, or provide it with conditions superior to competitors, or may enable Tencent to raise market entry barriers by paying high advance payments, etc., which has or may have the effect of excluding and restricting competition in relevant markets.</p><p>At the same time, the survey found that China's online music playback platform market has developed rapidly, and the market share of Tencent's main competitors (omitted) has also shown a rapid growth, from less than 6% at the time of concentration to nearly 18%, an increase of about 200%, indicating that competitors have a tendency to strengthen their competitive constraints. In addition, there has been a certain trend of dynamic competition and cross-border integration between online music playback platforms and other platforms in recent years. Some short video platforms with a wide user base may become competitors in related markets in the future if they obtain a sufficient number of music copyright resources.</p><p>The above facts are proved by statistical data and industry analysis reports of third-party organizations, Questionnaire Survey Report, Economic Analysis Report, Authorization Agreement and Sub-Authorization Agreement provided by Tencent and related parties, and replies from relevant parties such as industry authorities.</p><p>III. Basis and decision of administrative punishment</p><p>Article 48 of the Anti-Monopoly Law stipulates that \"if an operator violates the provisions of this Law to implement concentration, the anti-monopoly law enforcement agency of the State Council shall order it to stop the concentration, dispose of shares or assets within a time limit, transfer business within a time limit, and take other necessary measures to restore it to the pre-concentration state, and may be fined not more than 500,000 yuan.\" Article 49 of the Anti-Monopoly Law stipulates that \"for the fines stipulated in Articles 46, 47 and 48 of this Law, the anti-monopoly law enforcement agency shall consider the nature, degree and duration of the illegal act when determining the specific amount of the fine\".</p><p>According to the above provisions, based on the above investigation and evaluation conclusion, this authority has made the following decisions on Tencent:</p><p><b>(1) Order Tencent and its affiliated companies to take the following measures to restore competition in relevant markets:</b></p><p>1. An exclusive copyright agreement (the copyright scope includes the information network dissemination right of all music works and sound recordings) or other exclusive agreements shall not be reached or reached in disguised form with the upstream copyright owner. If it has been reached, it shall be terminated within 30 days from the date of promulgation of this decision, except for the exclusive cooperation with independent musicians (natural persons who have authorized the copyright with the music platform in their own name and have never signed an agreement with any record company or brokerage company) or new songs. The exclusive cooperation period with independent musicians shall not exceed three years, and the exclusive cooperation period with new songs shall not exceed thirty days.</p><p>2. Without justifiable reasons, the upstream copyright owner shall not be required or disguised to give the parties conditions that are superior to other competitors, including but not limited to the scope of authorization, the amount of authorization, the period of authorization, etc., or any agreement or agreement terms related to it. If it has been reached, it shall be cancelled within 30 days from the date of promulgation of this decision.</p><p>3. Quote the upstream copyright owner based on factors such as the actual use of the copyright, user payment, unit price of the song, application scenarios, contract period, etc., and do not increase the cost of competitors in disguised form through high prepayments, etc., and exclude or restrict competition.</p><p><b>(2) A fine of 500,000 yuan shall be imposed.</b></p><p><b>(3) Declaring concentration of business operators in accordance with the law.</b></p><p>1. If the concentration of business operators meets the reporting standards stipulated by the State Council, it shall be reported to the State Administration for Market Regulation in advance, and the concentration shall not be implemented if the concentration is not reported.</p><p>2. If the concentration of business operators does not meet the reporting standards, but the concentration of business operators has or may have the effect of excluding or restricting competition, it shall be reported to the State Administration for Market Regulation in advance, and the concentration shall not be implemented if the concentration is not reported.</p><p>3. If the transaction does not constitute a concentration of operators, except for matters stipulated by law to protect the rights and interests of minority shareholders, it shall not participate in the business decision-making of relevant enterprises, and report the basic situation of the transaction to the State Administration for Market Regulation in the annual report.</p><p><b>(4) Operate in compliance with laws and regulations, and establish and improve a long-term mechanism for fair participation in market competition.</b></p><p>1. Comprehensively standardize its own competitive behavior, conduct comprehensive and in-depth self-examination according to the Anti-Monopoly Law, and examine and standardize its own business behavior.</p><p>2. Strictly implement the main responsibilities of platform enterprises, constantly improve the internal governance rules of the platform, and cooperate with other operators in accordance with the principles of fairness, reasonableness, and non-discrimination.</p><p>3. Improve the internal compliance control system of enterprises, establish and effectively implement the anti-monopoly compliance system, and consciously safeguard fair competition.</p><p>4. Protect the legitimate rights and interests of consumers. Fully protect consumers' rights, reasonably set charging prices, and protect consumers' privacy.</p><p>5. Actively maintain fair competition and promote industry innovation and development.</p><p>The period of the above measures starts from the date of issuance of the \"Administrative Punishment Decision\". Tencent and its affiliated companies must formulate a rectification plan based on the above measures within ten days and submit it to the State Administration for Market Regulation for review. The State Administration for Market Regulation has the right to inspect the performance of the above obligations by Tencent and its affiliated companies through supervising the trustee or self-supervision within three years. Tencent will report the performance of its obligations to the State Administration for Market Regulation every year within three years, and will not report after the expiration of three years.</p><p>Article 67 of the Administrative Punishment Law stipulates that \"the administrative organ that makes the fine decision shall be separated from the institution that collects the fine. Except for the fine collected on the spot in accordance with the provisions of Articles 68 and 69 of this Law, the administrative organ that makes the administrative punishment decision and its law enforcement officers shall not collect the fine by themselves. The party concerned shall pay the fine at the designated bank or through the electronic payment system within 15 days from the date of receiving the administrative punishment decision. The bank shall accept the fine and turn it over directly to the state treasury. \"</p><p>Within fifteen days from the date of receipt of this administrative penalty decision, the party concerned shall, in accordance with this administrative penalty decision, bring the payment code to any of the 12 central fiscal non-tax revenue collection agent banks (Industry, Agriculture, China, Construction, Communications, CITIC, Everbright, China Merchants, Postal Savings, Huaxia, Ping An, Industrial) or online banking to pay the fine. Payment code: * * *.</p><p>If the party concerned is dissatisfied with the above-mentioned administrative penalty decision, it may apply to the State Administration for Market Regulation for administrative reconsideration within 60 days from the date of receipt of this administrative penalty decision; Or within six months from the date of receipt of this administrative penalty decision, file an administrative lawsuit with the Beijing Intellectual Property Court according to law. During the period of administrative reconsideration or administrative litigation, the execution of this administrative punishment decision shall not be suspended.</p><p>State Administration for Market Regulation</p><p>July 24, 2021<img src=\"https://static.tigerbbs.com/670343de69414ca1b966fc90740b6559\" tg-width=\"1020\" tg-height=\"642\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7799eeb7043b8caaf3d109c3b13109e","relate_stocks":{"TCEHY":"腾讯控股ADR","QNETCN":"纳斯达克中美互联网老虎指数","00700":"腾讯控股"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170350340","content_text":"腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。腾讯将压实责任，与腾讯音乐等关联公司在规定时限内制定整改措施方案，按照处罚决定要求全面不折不扣地完成，确保整改到位。\n\n 市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。\n\n2021年1月，市场监管总局根据举报，对腾讯控股有限公司（以下简称腾讯）2016年7月收购中国音乐集团股权涉嫌违法实施经营者集中行为立案调查。\n市场监管总局依据《反垄断法》，查清本交易违法实施集中的事实，充分评估参与集中的经营者在相关市场的份额、控制力、集中度以及集中对市场进入和消费者影响等因素。同时，广泛征求有关政府部门、行业协会、专家学者、同业竞争者意见，并多次听取腾讯陈述意见。\n调查表明，本案相关市场为中国境内网络音乐播放平台市场。正版音乐版权是网络音乐播放平台运营的核心资产和关键性资源。2016年腾讯和中国音乐集团在相关市场份额分别为30%和40%左右，腾讯通过与市场主要竞争对手合并，获得较高的市场份额，集中后实体占有的独家曲库资源超过80%，可能有能力促使上游版权方与其达成更多独家版权协议，或要求给予其优于竞争对手的交易条件，也可能有能力通过支付高额预付金等版权付费模式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争效果。\n根据《反垄断法》第四十八条、《经营者集中审查暂行规定》第五十七条规定，按照发展和规范并重的原则，市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。腾讯三年内每年向市场监管总局报告履行义务情况，市场监管总局将依法严格监督其执行情况。\n本案为我国《反垄断法》实施以来对违法实施经营者集中采取必要措施恢复市场竞争状态的第一起案件。责令腾讯解除独家版权等措施将重塑相关市场竞争秩序，降低市场进入壁垒，使竞争者均有公平触达上游版权资源的机会，有利于将竞争的焦点从利用资本优势抢夺版权资源回归到创新服务水平、提高用户体验的理性轨道上来；有利于推动与国际接轨的合理方式计算版权费用，减轻下游运营成本；有利于培育新的市场进入者，并为现存企业创造更公平的竞争环境，保障消费者选择权，最终惠及广大消费者，促进网络音乐产业规范创新健康发展。\n以下为处罚书全文:\n国家市场监督管理总局\n行政处罚决定书\n国市监处〔2021〕67号\n当事人：腾讯控股有限公司\n住 所：开曼群岛哈金斯大道克里奇广场\n根据《中华人民共和国反垄断法》（以下简称《反垄断法》）、《经营者集中审查暂行规定》，本机关于2021年1月25日对腾讯控股有限公司（以下简称腾讯）收购中国音乐集团股权涉嫌违法实施经营者集中进行立案调查。\n经查，该案构成违法实施的经营者集中，具有或者可能具有排除、限制竞争的效果。本机关按照《中华人民共和国行政处罚法》（以下简称《行政处罚法》）规定，向腾讯送达《行政处罚告知书》，告知其拟作出的行政处罚内容及事实、理由、依据，并告知其依法享有的陈述、申辩和要求听证等权利。腾讯在规定期限内没有提出陈述、申辩或要求听证。本案现已调查、审理终结。\n\n基本情况\n\n（一）交易方。\n收购方：腾讯。1999年11月于英属维尔京群岛注册成立，2004年2月迁册至英属开曼群岛，2004年6月在香港联交所上市，通过协议控制境内主要运营实体深圳市腾讯计算机系统有限公司。主要业务包括社交和通信服务、社交网络平台、网络音乐平台、游戏、网络视频服务、互动娱乐直播等。2015年全球营业额为1028.63亿元人民币（币种下同），中国境内营业额为962.51亿元。\n被收购方：中国音乐集团。2012年于开曼群岛注册成立，通过协议控制境内主要运营实体海洋互动（北京）信息技术有限公司。主要业务包括网络音乐平台、唱片公司出版业务、版权代理业务等。自然人（略）作为一致行动人拥有共同控制权。2015年全球及中国境内营业额均为（略）。\n（二）交易概况。\n2016年7月12日，腾讯以估值（略）的业务（主要是QQ音乐业务）投入中国音乐集团，获得中国音乐集团61.64%股权，取得对中国音乐集团的单独控制权。2016年12月，整合后的中国音乐集团更名为腾讯音乐娱乐集团。2017年12月6日，交易完成股权变更登记手续。\n二、违法事实及理由\n（一）本案构成违法实施的经营者集中。\n《反垄断法》第二十条规定“经营者集中是指下列情形：（一）经营者合并；（二）经营者通过取得股权或者资产的方式取得对其他经营者的控制权；（三）经营者通过合同等方式取得对其他经营者的控制权或者能够对其他经营者施加决定性影响”。本项集中前，中国音乐集团由自然人（略）共同控制。本项集中后，腾讯获得中国音乐集团61.64%股权，取得对中国音乐集团单独控制权，属于《反垄断法》第二十条规定的经营者集中。\n腾讯2015年全球营业额为1028.63亿元，中国境内营业额为962.51亿元，中国音乐集团2015年全球及中国境内营业额均为（略），达到《国务院关于经营者集中申报标准的规定》第三条规定的申报标准，属于应当申报的情形。\n《反垄断法》第二十一条规定“经营者集中达到国务院规定的申报标准的，经营者应当事先向国务院反垄断执法机构申报，未申报的不得实施集中”。2017年12月6日，腾讯完成股权变更登记，在此之前未向本机关申报，违反《反垄断法》第二十一条规定，构成违法实施的经营者集中。\n以上事实，有腾讯营业执照复印件、组织架构图、股权关系图、《经营者集中反垄断审查申报表》、腾讯年报、《腾讯相关问题的书面说明》、《股份认购协议》等证据证明。\n（二）本案具有或者可能具有排除、限制竞争的效果。\n根据《反垄断法》和《国务院反垄断委员会关于相关市场界定的指南》规定，同时考虑平台经济特点，在经济学分析和问卷调查基础上，本案相关市场界定为交易双方存在横向重叠的中国境内网络音乐播放平台市场。网络音乐播放平台市场是指通过电脑端、手机端或者其他智能终端的程序或网站，以在线播放或下载方式向消费者提供完整版权音乐录音制品播放服务的平台。网络K歌、网络直播、短视频平台等虽也提供与网络音乐相关的服务，但其核心功能、应用场景、商业模式、市场进入等与网络音乐播放平台市场不具有紧密替代关系，不属于同一相关商品市场。由于音乐版权的授权受各国著作权法规定限制，具有明显的地域差异，中国的网络音乐播放平台获得授权的音乐版权传播范围一般为中国境内，且主要面向中国境内用户，因此相关地域市场界定为中国境内。\n经深入研究，本项集中对中国境内网络音乐播放平台市场具有或者可能具有排除、限制竞争效果：\n\n集中后实体在相关市场具有较高市场份额。\n\n2016年7月集中发生时，腾讯和中国音乐集团的月活跃用户数分别为1.6亿人、2.3亿人，市场份额分别为33.96%、49.07%；用户月使用时长分别为8.05亿小时、6.98亿小时，市场份额分别为45.77%、39.65%，集中双方均列市场前两位，合计市场份额超过80%。2016年集中双方在相关市场的销售金额合计（略），约占相关市场总收入规模的70%。以音乐版权核心资源占有率计算，腾讯和中国音乐集团的曲库数量分别为1210万、821万，其中独家曲库为314万、130万，曲库和独家资源的市场占有率均超过80%。\n从该市场赫芬达尔－赫希曼指数（HHI指数）分析，交易后为6950，为高度集中市场，集中产生的增量为3350。交易导致相关市场集中度进一步提高，竞争被进一步削弱。\n\n集中减少相关市场主要竞争对手。\n\n调查显示，交易前集中双方居市场前两位，竞争实力相当，彼此竞争较为紧密。根据消费者在替代性平台之间的流向选择显示，腾讯旗下QQ音乐73.6%的用户流向了中国音乐集团旗下的酷狗音乐和酷我音乐，表明如果QQ音乐提高价格或降低服务水平，可能有73.6%的用户流向中国音乐集团旗下平台，双方互为较为紧密竞争者。集中减少相关市场主要竞争对手，进一步削弱市场竞争。\n\n集中可能进一步提高相关市场进入壁垒。\n\n一是可能提高版权资源壁垒。在集中后实体锁定较多独家版权资源的情况下，新进入者须依靠其转授权，进入相关市场较为困难。由集中带来的市场规模也使其有能力通过提前支付不可返还的高额预付金等方式向上游版权方支付版权费用，可能进一步提高市场进入壁垒。\n二是可能增加用户转换成本。集中为腾讯带来较为丰富的曲库资源、较大的用户规模及充足的使用数据，相比新进入平台更能推荐符合消费者偏好的歌曲，导致用户转换平台意愿降低，从而进一步扩大用户规模，可能阻止其他竞争者达到或维持临界规模。\n三是集中后市场进入活跃度不高。数据显示，网络音乐播放平台市场的主要进入发生在2016年初至2017年7月，2017年底集中完成后，该市场进入活跃度下降较明显。\n综上，腾讯通过本项集中在中国境内网络音乐播放平台市场具有较高市场份额，可能使其有能力促使上游版权方对其进行独家版权授权，或者向其提供优于竞争对手的条件，也可能使腾讯有能力通过支付高额预付金等方式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争的效果。\n调查同时发现，中国网络音乐播放平台市场发展较为迅速，腾讯主要竞争对手（略）的市场份额也呈现较快速度增长，由集中发生时的不足6%增长至近18%，增长200%左右，说明竞争对手对其竞争约束有增强的趋势。此外，网络音乐播放平台与其他平台之间近年来呈现出一定的动态竞争和跨界融合趋势，一些拥有广泛用户基础的短视频平台，如果再获得足够数量的音乐版权资源，在未来有可能成为相关市场的竞争者。\n以上事实，有第三方机构统计数据和行业分析报告、《问卷调查报告》、《经济学分析报告》、腾讯和相关方提供的《授权协议》和《转授权协议》、行业主管部门等相关方的回复意见等证据证明。\n三、行政处罚依据和决定\n《反垄断法》第四十八条规定“经营者违反本法规定实施集中的，由国务院反垄断执法机构责令停止实施集中、限期处分股份或者资产、限期转让营业以及采取其他必要措施恢复到集中前的状态，可以处五十万元以下的罚款”。《反垄断法》第四十九条规定“对本法第四十六条、第四十七条、第四十八条规定的罚款，反垄断执法机构确定具体罚款数额时，应当考虑违法行为的性质、程度和持续的时间等因素”。\n根据上述规定，基于上述调查情况和评估结论，本机关对腾讯作出如下处理决定：\n（一）责令腾讯及其关联公司采取以下措施恢复相关市场竞争状态：\n1. 不得与上游版权方达成或变相达成独家版权协议（版权范围包括所有音乐作品及录音制品的信息网络传播权）或其他排他性协议，已经达成的，须在本决定发布之日起三十日内解除，与独立音乐人（是指音乐作品或录音制品的原始权利人，并以个人名义与音乐平台进行版权授权，且从未与任何唱片公司或经纪公司签订协议的自然人）或新歌首发的独家合作除外。与独立音乐人的独家合作期限不得超过三年，与新歌首发的独家合作期限不得超过三十日。\n2. 没有正当理由，不得要求或变相要求上游版权方给予当事人优于其他竞争对手的条件，包括但不限于授权范围、授权金额、授权期限等，或与之相关的任何协议或协议条款。已经达成的，须在本决定发布之日起三十日内解除。\n3. 依据版权实际使用情况、用户付费情况、歌曲单价、应用场景、签约期限等因素向上游版权方报价，不得通过高额预付金等方式变相提高竞争对手成本，排除、限制竞争。\n（二）处以50万元罚款。\n（三）依法申报经营者集中。\n1.经营者集中达到国务院规定的申报标准的，应当事先向市场监管总局申报，未申报的不得实施集中。\n2.经营者集中未达到申报标准，但该经营者集中具有或者可能具有排除、限制竞争效果的，应当事先向市场监管总局申报，未申报的不得实施集中。\n3.交易未构成经营者集中的，除法律规定的保护小股东权益事项外，不得参与相关企业经营决策，并在每年的年度报告中向市场监管总局报告交易基本情况等内容。\n（四）依法合规经营，建立健全公平参与市场竞争的长效机制。\n1.全面规范自身竞争行为，对照《反垄断法》开展全面深入自查，检视并规范自身经营行为。\n2.严格落实平台企业主体责任，不断完善平台内部治理规则，按照公平、合理、无歧视原则与其他经营者开展合作。\n3.完善企业内部合规控制制度，建立并有效执行反垄断合规制度，自觉维护公平竞争。\n4.保护消费者合法权益。充分保障消费者各项权利，合理制定收费价格，保护消费者隐私。\n5.积极维护公平竞争，推动行业创新发展。\n以上措施期限自《行政处罚决定书》下发之日起算，腾讯及其关联公司须在十日内对照上述措施制定整改方案，并报市场监管总局审核。市场监管总局三年内有权通过监督受托人或自行监督检查腾讯及其关联公司履行上述义务的情况，腾讯三年内每年向市场监管总局报告履行义务情况，三年到期后不再报告。\n《行政处罚法》第六十七条规定“作出罚款决定的行政机关应当与收缴罚款的机构分离。除依照本法第六十八条、第六十九条的规定当场收缴的罚款外，作出行政处罚决定的行政机关及其执法人员不得自行收缴罚款。当事人应当自收到行政处罚决定书之日起十五日内，到指定的银行或者通过电子支付系统缴纳罚款。银行应当收受罚款，并将罚款直接上缴国库”。\n当事人应当自收到本行政处罚决定书之日起十五日内，根据本行政处罚决定书，携缴款码到12家中央财政非税收入收缴代理银行（工、农、中、建、交、中信、光大、招商、邮储、华夏、平安、兴业）任一银行网点或者网上银行交纳罚款。缴款码：***。\n当事人如对上述行政处罚决定不服，可以自收到本行政处罚决定书之日起六十日内，向国家市场监督管理总局申请行政复议；或者自收到本行政处罚决定书之日起六个月内，依法向北京知识产权法院提起行政诉讼。行政复议或者行政诉讼期间，本行政处罚决定不停止执行。\n市场监管总局\n2021年7月24日","news_type":1,"symbols_score_info":{"00700":0.9,"QNETCN":0.9,"TCEHY":0.9}},"isVote":1,"tweetType":1,"viewCount":1661,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172819676,"gmtCreate":1626950512695,"gmtModify":1703481172583,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/172819676","repostId":"1128346677","repostType":4,"repost":{"id":"1128346677","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626950305,"share":"https://ttm.financial/m/news/1128346677?lang=en_US&edition=fundamental","pubTime":"2021-07-22 18:38","market":"us","language":"zh","title":"Southwest Airlines' second-quarter revenue was US $4.01 billion, and EPS turned into a loss year-on-year","url":"https://stock-news.laohu8.com/highlight/detail?id=1128346677","media":"老虎资讯综合","summary":"西南航空2021年Q2 营收（亿美元）：40.1，预期：38.79，前值：10.08。\nQ2每股收益0.57美元，市场预期亏损0.07美元，去年同期亏损1.63美元。\nQ2乘客搭乘收入为35.7亿美元","content":"<p><a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a>2021 Q2 revenue (US $billion):<b>40.1，</b>Expected: 38.79, previous value: 10.08.</p><p>Q2 earnings per share were US $0.57, the market expected a loss of US $0.07, and a loss of US $1.63 in the same period last year.</p><p>Q2 passenger boarding revenue was $3.57 billion, compared with expectations of $3.56 billion.</p><p>Total Q2 operating expenses increased 59.9% to $3.4 billion. Passenger load factor in Q2 was 82.9%, compared to 31.4% in the same period last year.</p><p>As of press time, Southwest Airlines rose 0.28% before the market.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Southwest Airlines' second-quarter revenue was US $4.01 billion, and EPS turned into a loss year-on-year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSouthwest Airlines' second-quarter revenue was US $4.01 billion, and EPS turned into a loss year-on-year\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-22 18:38</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a>2021 Q2 revenue (US $billion):<b>40.1，</b>Expected: 38.79, previous value: 10.08.</p><p>Q2 earnings per share were US $0.57, the market expected a loss of US $0.07, and a loss of US $1.63 in the same period last year.</p><p>Q2 passenger boarding revenue was $3.57 billion, compared with expectations of $3.56 billion.</p><p>Total Q2 operating expenses increased 59.9% to $3.4 billion. Passenger load factor in Q2 was 82.9%, compared to 31.4% in the same period last year.</p><p>As of press time, Southwest Airlines rose 0.28% before the market.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0543353f6a7c7d15818638f8d617e549","relate_stocks":{"LUV":"西南航空"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128346677","content_text":"西南航空2021年Q2 营收（亿美元）：40.1，预期：38.79，前值：10.08。\nQ2每股收益0.57美元，市场预期亏损0.07美元，去年同期亏损1.63美元。\nQ2乘客搭乘收入为35.7亿美元，预期35.6亿美元。\nQ2总运营费用增长59.9%，至34亿美元。Q2载客率为82.9%，去年同期为31.4%。\n截至发稿，西南航空盘前涨0.28%。","news_type":1,"symbols_score_info":{"LUV":0.9}},"isVote":1,"tweetType":1,"viewCount":2346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176322992,"gmtCreate":1626864929216,"gmtModify":1703479503582,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/176322992","repostId":"1107424947","repostType":4,"isVote":1,"tweetType":1,"viewCount":1893,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178921110,"gmtCreate":1626783546830,"gmtModify":1703765076652,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/178921110","repostId":"1168215370","repostType":4,"isVote":1,"tweetType":1,"viewCount":2939,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178967466,"gmtCreate":1626783301755,"gmtModify":1703765071561,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178967466","repostId":"2152669205","repostType":4,"repost":{"id":"2152669205","kind":"news","weMediaInfo":{"introduction":"全球第五大财经门户网站Investing.com中国官方微信，提供全球各国海量金融资讯和实时行情数据，包括股票股指、外汇、期货、基金、债券、加密货币等。关注全球金融市场动态的投资者千万不可错过。","home_visible":1,"media_name":"英为财情Investing","id":"92","head_image":"https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313"},"pubTimestamp":1626782823,"share":"https://ttm.financial/m/news/2152669205?lang=en_US&edition=fundamental","pubTime":"2021-07-20 20:07","market":"us","language":"zh","title":"Fed Watch: Biden may reappoint Powell, inflation concerns mount","url":"https://stock-news.laohu8.com/highlight/detail?id=2152669205","media":"英为财情Investing","summary":"美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。\n但他重申，由于经济的重新开放，供应","content":"<p><img src=\"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9\" tg-width=\"550\" tg-height=\"358\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>The Fed's interpretation of high inflation as transitory is increasingly unconvincing. In testimony before Congress last week, Federal Reserve Chairman Jerome Powell acknowledged that inflation was higher than the Fed expected and that they would not hesitate to \"adjust\" monetary policy if inflation started to spiral out of control.</p><p>But he reiterated that price increases due to supply and labor shortages are temporary due to the reopening of the economy.</p><p>The U.S. consumer price index for June released last week showed that the CPI rose by 5.4% compared with the same period last year, the highest level since 2008 and higher than the market expectation of 5%; The month-on-month increase was 0.9%, higher than the previous forecast of 0.5%. After the data was released, lawmakers from both parties asked Powell questions about inflation.</p><p>Inflation may not be temporary</p><p>As Powell's policies gain more attention, questions about the appointment of the Fed chairman are also beginning to emerge. Powell's term expires in early February next year, and the White House typically appoints a new chairman months in advance for Senate confirmation.</p><p>While the vast majority of economists believe that President Biden will follow tradition and continue to appoint Powell as chairman, Robert Kuttner, editor of American Prospect, predicted last week that Biden would appoint a new person. Kuttner was the first to report that Yellen would serve as Treasury Secretary.</p><p>Brown, an Ohio senator and Democrat who chairs the Banking Committee, harshly criticized Powell at a hearing last week, arguing that lax regulation has made banks more unscrupulous. Senator Elizabeth Warren, an influential former presidential candidate, also made the same criticism.</p><p>Last week, Yellen, the last Fed chair, sidestepped a TV reporter's question about reappointing Powell, but she thought the Fed had done a good job.</p><p>After the crisis ended and the economy rebounded strongly, Powell continued to buy assets with all his might, and interest rates were close to zero, which is exactly what Yellen wanted Powell to do.</p><p>However, the independence of the Federal Reserve is beginning to be questioned, as Powell dutifully follows the policies of the previous chairman and members of the Federal Open Market Committee are stuck in a rut.</p><p>Typically, the producer price index is the leading indicator of the consumer price index. The U.S. PPI rose 1.0% month-on-month and 7.3% year-on-year in June. Most banks expect price pressures to persist for some time.</p><p>The evidence suggests that Powell's insistence that inflation is temporary is becoming increasingly untenable. Inflation was supposed to wane as the base effect of low prices a year ago subsided, and the supply shortage that has lasted for months has only temporarily begged the issue.</p><p>The Richmond Fed president told the Wall Street Journal that it is too early for the Fed to consider reducing its current $120 billion monthly bond purchases. Because the employment-to-population ratio was 61.1% before the pandemic hit in February 2020, but it was still only 58% in June, and the data needs to stabilize above 59% before policymakers can discuss tapering bond purchases.</p><p>James Bullard, president of St. Louis Fed, hinted that the time was approaching to start tapering bond purchases. \"I don't need to start moving tomorrow, but I think we're ready,\" he said in an interview.</p><p>Central bank policymakers in other countries are less hesitant. The Bank of Canada announced an expansion to C $3 billion ($2.4 billion) on top of the C $1 billion weekly reduction in bond purchases in April, and said it would cut bond purchases by a further C $1 billion ($784 million) weekly.</p><p>Michael Saunders, an external member of the Bank of England's Monetary Policy Committee, said last week that the Bank of England should take action to curb inflation and signaled that he would vote for reducing bond purchases as early as a meeting early next month.</p><p>This signals policymakers are turning hawkish, while David Ramsden, deputy governor and member of the MPC, also said he was worried about inflation after the UK's CPI rose 2.5% year-on-year in June.</p><p>The two policymakers said they disagreed with central bank governor Andrew Bailey. Bailey insisted that the central bank was right to keep its policy unchanged.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Watch: Biden may reappoint Powell, inflation concerns mount</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Watch: Biden may reappoint Powell, inflation concerns mount\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/92\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">英为财情Investing </p>\n<p class=\"h-time smaller\">2021-07-20 20:07</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><img src=\"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9\" tg-width=\"550\" tg-height=\"358\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>The Fed's interpretation of high inflation as transitory is increasingly unconvincing. In testimony before Congress last week, Federal Reserve Chairman Jerome Powell acknowledged that inflation was higher than the Fed expected and that they would not hesitate to \"adjust\" monetary policy if inflation started to spiral out of control.</p><p>But he reiterated that price increases due to supply and labor shortages are temporary due to the reopening of the economy.</p><p>The U.S. consumer price index for June released last week showed that the CPI rose by 5.4% compared with the same period last year, the highest level since 2008 and higher than the market expectation of 5%; The month-on-month increase was 0.9%, higher than the previous forecast of 0.5%. After the data was released, lawmakers from both parties asked Powell questions about inflation.</p><p>Inflation may not be temporary</p><p>As Powell's policies gain more attention, questions about the appointment of the Fed chairman are also beginning to emerge. Powell's term expires in early February next year, and the White House typically appoints a new chairman months in advance for Senate confirmation.</p><p>While the vast majority of economists believe that President Biden will follow tradition and continue to appoint Powell as chairman, Robert Kuttner, editor of American Prospect, predicted last week that Biden would appoint a new person. Kuttner was the first to report that Yellen would serve as Treasury Secretary.</p><p>Brown, an Ohio senator and Democrat who chairs the Banking Committee, harshly criticized Powell at a hearing last week, arguing that lax regulation has made banks more unscrupulous. Senator Elizabeth Warren, an influential former presidential candidate, also made the same criticism.</p><p>Last week, Yellen, the last Fed chair, sidestepped a TV reporter's question about reappointing Powell, but she thought the Fed had done a good job.</p><p>After the crisis ended and the economy rebounded strongly, Powell continued to buy assets with all his might, and interest rates were close to zero, which is exactly what Yellen wanted Powell to do.</p><p>However, the independence of the Federal Reserve is beginning to be questioned, as Powell dutifully follows the policies of the previous chairman and members of the Federal Open Market Committee are stuck in a rut.</p><p>Typically, the producer price index is the leading indicator of the consumer price index. The U.S. PPI rose 1.0% month-on-month and 7.3% year-on-year in June. Most banks expect price pressures to persist for some time.</p><p>The evidence suggests that Powell's insistence that inflation is temporary is becoming increasingly untenable. Inflation was supposed to wane as the base effect of low prices a year ago subsided, and the supply shortage that has lasted for months has only temporarily begged the issue.</p><p>The Richmond Fed president told the Wall Street Journal that it is too early for the Fed to consider reducing its current $120 billion monthly bond purchases. Because the employment-to-population ratio was 61.1% before the pandemic hit in February 2020, but it was still only 58% in June, and the data needs to stabilize above 59% before policymakers can discuss tapering bond purchases.</p><p>James Bullard, president of St. Louis Fed, hinted that the time was approaching to start tapering bond purchases. \"I don't need to start moving tomorrow, but I think we're ready,\" he said in an interview.</p><p>Central bank policymakers in other countries are less hesitant. The Bank of Canada announced an expansion to C $3 billion ($2.4 billion) on top of the C $1 billion weekly reduction in bond purchases in April, and said it would cut bond purchases by a further C $1 billion ($784 million) weekly.</p><p>Michael Saunders, an external member of the Bank of England's Monetary Policy Committee, said last week that the Bank of England should take action to curb inflation and signaled that he would vote for reducing bond purchases as early as a meeting early next month.</p><p>This signals policymakers are turning hawkish, while David Ramsden, deputy governor and member of the MPC, also said he was worried about inflation after the UK's CPI rose 2.5% year-on-year in June.</p><p>The two policymakers said they disagreed with central bank governor Andrew Bailey. Bailey insisted that the central bank was right to keep its policy unchanged.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9","relate_stocks":{"161125":"标普500","513500":"标普500ETF","DJX":"1/100道琼斯","DXD":"两倍做空道琼30指数ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares",".DJI":"道琼斯","QQQ":"纳指100ETF","SQQQ":"纳指三倍做空ETF","OEX":"标普100","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","SH":"做空标普500-Proshares","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares",".SPX":"S&P 500 Index","SSO":"2倍做多标普500ETF-ProShares",".IXIC":"NASDAQ Composite","OEF":"标普100指数ETF-iShares","DDM":"2倍做多道指ETF-ProShares","SDOW":"三倍做空道指30ETF-ProShares","DOG":"道指ETF-ProShares做空","SPY":"标普500ETF","TQQQ":"纳指三倍做多ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2152669205","content_text":"美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。\n但他重申，由于经济的重新开放，供应和劳动力短缺导致的物价上涨是暂时的。\n上周公布的美国6月份消费者价格指数显示，CPI较上年同期上涨5.4%，为2008年以来的最高水平，也高于5%的市场预期；环比则增长0.9%，高于此前预测的0.5%。数据公布后，两党议员纷纷就通胀问题向鲍威尔提问。\n通胀或许不是暂时的\n随着鲍威尔的政策获得更多关注，有关美联储主席任命的问题也开始浮现。鲍威尔的任期将于明年2月初到期，白宫通常会提前几个月任命新主席，以便参议院确认。\n虽然绝大多数经济学家认为，拜登总统将遵循传统，继续任命鲍威尔为主席，但《美国前景》的编辑Robert Kuttner上周预测，拜登将任命新的人选。Kuttner是第一个报道耶伦将担任财政部长的人。\n俄亥俄州参议员、银行委员会主席、民主党人布朗在上周的听证会上严厉批评了鲍威尔，他认为宽松的监管使得银行变得更加肆无忌惮。颇具影响力的前总统候选人、参议员伊丽莎白·沃伦也提出了同样的批评。\n上周，上一届美联储主席耶伦回避了一位电视记者关于再次任命鲍威尔的提问，但她认为美联储已经做得很好。\n在危机结束、经济强劲反弹后，鲍威尔继续全力购买资产，利率接近于零，这也正是耶伦想要鲍威尔做的。\n但是，美联储的独立性开始受到怀疑，因为鲍威尔尽职地跟随前任主席的政策，而联邦公开市场委员会的成员们也都墨守成规。\n通常，生产者价格指数是消费者价格指数的先行指标。美国6月份PPI环比上涨1.0%，同比上涨7.3%。大多数银行预计价格压力还将持续一段时间。\n这些证据表明，鲍威尔坚称通胀是暂时的说法正变得越来越站不住脚。随着一年前价格低迷的基数效应消退，通胀本应该减弱，而持续数月的供应短缺只是暂时回避了这个问题。\n里士满联储主席对《华尔街日报》表示，美联储现在考虑减少目前每月1，200亿美元的债券购买规模还为时过早。因为在2020年2月大流行爆发前，就业与人口的比率为61.1%，但6月份仍只有58%，该数据需要稳定到59%以上政策制定者才能讨论缩减购债。\n圣路易斯联储主席詹姆斯•布拉德暗示，开始缩减债券购买规模的时机已经临近。他在一次采访中说：“我不需要明天就开始行动，但我认为我们已经做好了准备。”\n其他国家的央行决策者就没有那么犹豫不决了。加拿大央行宣布在4月份每周削减购债10亿加元的基础上扩大至30亿加元（合24亿美元），并在表示每周将进一步削减购债10亿加元（合7.84亿美元）。\n英国央行货币政策委员会外部成员Michael Saunders上周表示，英国央行应采取行动遏制通胀，并暗示他最早将在下月初的会议上投票支持减少债券购买。\n这标志着政策制定者正在转向鹰派，同时MPC的副行长兼成员David Ramsden也表示，在英国6月份CPI同比增长2.5%后，他对通货膨胀感到担忧。\n两位政策制定者表示，他们不同意央行行长Andrew Bailey的看法。Bailey坚持认为，央行保持政策不变是正确的。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SH":0.9,"SSO":0.9,"UDOW":0.9,"QID":0.9,".IXIC":0.9,"SPXU":0.9,"DJX":0.9,"ESmain":0.9,"DXD":0.9,"PSQ":0.9,"SDS":0.9,"QLD":0.9,"NQmain":0.9,"SQQQ":0.9,"IVV":0.9,"QQQ":0.9,"SPY":0.9,"OEF":0.9,"OEX":0.9,".SPX":0.9,"DOG":0.9,"DDM":0.9,".DJI":0.9,"TQQQ":0.9,"SDOW":0.9,"MNQmain":0.9,"UPRO":0.9}},"isVote":1,"tweetType":1,"viewCount":2198,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178964143,"gmtCreate":1626783099482,"gmtModify":1703765069460,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178964143","repostId":"2152669205","repostType":4,"repost":{"id":"2152669205","kind":"news","weMediaInfo":{"introduction":"全球第五大财经门户网站Investing.com中国官方微信，提供全球各国海量金融资讯和实时行情数据，包括股票股指、外汇、期货、基金、债券、加密货币等。关注全球金融市场动态的投资者千万不可错过。","home_visible":1,"media_name":"英为财情Investing","id":"92","head_image":"https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313"},"pubTimestamp":1626782823,"share":"https://ttm.financial/m/news/2152669205?lang=en_US&edition=fundamental","pubTime":"2021-07-20 20:07","market":"us","language":"zh","title":"Fed Watch: Biden may reappoint Powell, inflation concerns mount","url":"https://stock-news.laohu8.com/highlight/detail?id=2152669205","media":"英为财情Investing","summary":"美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。\n但他重申，由于经济的重新开放，供应","content":"<p><img src=\"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9\" tg-width=\"550\" tg-height=\"358\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>The Fed's interpretation of high inflation as transitory is increasingly unconvincing. In testimony before Congress last week, Federal Reserve Chairman Jerome Powell acknowledged that inflation was higher than the Fed expected and that they would not hesitate to \"adjust\" monetary policy if inflation started to spiral out of control.</p><p>But he reiterated that price increases due to supply and labor shortages are temporary due to the reopening of the economy.</p><p>The U.S. consumer price index for June released last week showed that the CPI rose by 5.4% compared with the same period last year, the highest level since 2008 and higher than the market expectation of 5%; The month-on-month increase was 0.9%, higher than the previous forecast of 0.5%. After the data was released, lawmakers from both parties asked Powell questions about inflation.</p><p>Inflation may not be temporary</p><p>As Powell's policies gain more attention, questions about the appointment of the Fed chairman are also beginning to emerge. Powell's term expires in early February next year, and the White House typically appoints a new chairman months in advance for Senate confirmation.</p><p>While the vast majority of economists believe that President Biden will follow tradition and continue to appoint Powell as chairman, Robert Kuttner, editor of American Prospect, predicted last week that Biden would appoint a new person. Kuttner was the first to report that Yellen would serve as Treasury Secretary.</p><p>Brown, an Ohio senator and Democrat who chairs the Banking Committee, harshly criticized Powell at a hearing last week, arguing that lax regulation has made banks more unscrupulous. Senator Elizabeth Warren, an influential former presidential candidate, also made the same criticism.</p><p>Last week, Yellen, the last Fed chair, sidestepped a TV reporter's question about reappointing Powell, but she thought the Fed had done a good job.</p><p>After the crisis ended and the economy rebounded strongly, Powell continued to buy assets with all his might, and interest rates were close to zero, which is exactly what Yellen wanted Powell to do.</p><p>However, the independence of the Federal Reserve is beginning to be questioned, as Powell dutifully follows the policies of the previous chairman and members of the Federal Open Market Committee are stuck in a rut.</p><p>Typically, the producer price index is the leading indicator of the consumer price index. The U.S. PPI rose 1.0% month-on-month and 7.3% year-on-year in June. Most banks expect price pressures to persist for some time.</p><p>The evidence suggests that Powell's insistence that inflation is temporary is becoming increasingly untenable. Inflation was supposed to wane as the base effect of low prices a year ago subsided, and the supply shortage that has lasted for months has only temporarily begged the issue.</p><p>The Richmond Fed president told the Wall Street Journal that it is too early for the Fed to consider reducing its current $120 billion monthly bond purchases. Because the employment-to-population ratio was 61.1% before the pandemic hit in February 2020, but it was still only 58% in June, and the data needs to stabilize above 59% before policymakers can discuss tapering bond purchases.</p><p>James Bullard, president of St. Louis Fed, hinted that the time was approaching to start tapering bond purchases. \"I don't need to start moving tomorrow, but I think we're ready,\" he said in an interview.</p><p>Central bank policymakers in other countries are less hesitant. The Bank of Canada announced an expansion to C $3 billion ($2.4 billion) on top of the C $1 billion weekly reduction in bond purchases in April, and said it would cut bond purchases by a further C $1 billion ($784 million) weekly.</p><p>Michael Saunders, an external member of the Bank of England's Monetary Policy Committee, said last week that the Bank of England should take action to curb inflation and signaled that he would vote for reducing bond purchases as early as a meeting early next month.</p><p>This signals policymakers are turning hawkish, while David Ramsden, deputy governor and member of the MPC, also said he was worried about inflation after the UK's CPI rose 2.5% year-on-year in June.</p><p>The two policymakers said they disagreed with central bank governor Andrew Bailey. Bailey insisted that the central bank was right to keep its policy unchanged.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Watch: Biden may reappoint Powell, inflation concerns mount</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Watch: Biden may reappoint Powell, inflation concerns mount\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/92\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">英为财情Investing </p>\n<p class=\"h-time smaller\">2021-07-20 20:07</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><img src=\"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9\" tg-width=\"550\" tg-height=\"358\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>The Fed's interpretation of high inflation as transitory is increasingly unconvincing. In testimony before Congress last week, Federal Reserve Chairman Jerome Powell acknowledged that inflation was higher than the Fed expected and that they would not hesitate to \"adjust\" monetary policy if inflation started to spiral out of control.</p><p>But he reiterated that price increases due to supply and labor shortages are temporary due to the reopening of the economy.</p><p>The U.S. consumer price index for June released last week showed that the CPI rose by 5.4% compared with the same period last year, the highest level since 2008 and higher than the market expectation of 5%; The month-on-month increase was 0.9%, higher than the previous forecast of 0.5%. After the data was released, lawmakers from both parties asked Powell questions about inflation.</p><p>Inflation may not be temporary</p><p>As Powell's policies gain more attention, questions about the appointment of the Fed chairman are also beginning to emerge. Powell's term expires in early February next year, and the White House typically appoints a new chairman months in advance for Senate confirmation.</p><p>While the vast majority of economists believe that President Biden will follow tradition and continue to appoint Powell as chairman, Robert Kuttner, editor of American Prospect, predicted last week that Biden would appoint a new person. Kuttner was the first to report that Yellen would serve as Treasury Secretary.</p><p>Brown, an Ohio senator and Democrat who chairs the Banking Committee, harshly criticized Powell at a hearing last week, arguing that lax regulation has made banks more unscrupulous. Senator Elizabeth Warren, an influential former presidential candidate, also made the same criticism.</p><p>Last week, Yellen, the last Fed chair, sidestepped a TV reporter's question about reappointing Powell, but she thought the Fed had done a good job.</p><p>After the crisis ended and the economy rebounded strongly, Powell continued to buy assets with all his might, and interest rates were close to zero, which is exactly what Yellen wanted Powell to do.</p><p>However, the independence of the Federal Reserve is beginning to be questioned, as Powell dutifully follows the policies of the previous chairman and members of the Federal Open Market Committee are stuck in a rut.</p><p>Typically, the producer price index is the leading indicator of the consumer price index. The U.S. PPI rose 1.0% month-on-month and 7.3% year-on-year in June. Most banks expect price pressures to persist for some time.</p><p>The evidence suggests that Powell's insistence that inflation is temporary is becoming increasingly untenable. Inflation was supposed to wane as the base effect of low prices a year ago subsided, and the supply shortage that has lasted for months has only temporarily begged the issue.</p><p>The Richmond Fed president told the Wall Street Journal that it is too early for the Fed to consider reducing its current $120 billion monthly bond purchases. Because the employment-to-population ratio was 61.1% before the pandemic hit in February 2020, but it was still only 58% in June, and the data needs to stabilize above 59% before policymakers can discuss tapering bond purchases.</p><p>James Bullard, president of St. Louis Fed, hinted that the time was approaching to start tapering bond purchases. \"I don't need to start moving tomorrow, but I think we're ready,\" he said in an interview.</p><p>Central bank policymakers in other countries are less hesitant. The Bank of Canada announced an expansion to C $3 billion ($2.4 billion) on top of the C $1 billion weekly reduction in bond purchases in April, and said it would cut bond purchases by a further C $1 billion ($784 million) weekly.</p><p>Michael Saunders, an external member of the Bank of England's Monetary Policy Committee, said last week that the Bank of England should take action to curb inflation and signaled that he would vote for reducing bond purchases as early as a meeting early next month.</p><p>This signals policymakers are turning hawkish, while David Ramsden, deputy governor and member of the MPC, also said he was worried about inflation after the UK's CPI rose 2.5% year-on-year in June.</p><p>The two policymakers said they disagreed with central bank governor Andrew Bailey. Bailey insisted that the central bank was right to keep its policy unchanged.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9","relate_stocks":{"161125":"标普500","513500":"标普500ETF","DJX":"1/100道琼斯","DXD":"两倍做空道琼30指数ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares",".DJI":"道琼斯","QQQ":"纳指100ETF","SQQQ":"纳指三倍做空ETF","OEX":"标普100","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","SH":"做空标普500-Proshares","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares",".SPX":"S&P 500 Index","SSO":"2倍做多标普500ETF-ProShares",".IXIC":"NASDAQ Composite","OEF":"标普100指数ETF-iShares","DDM":"2倍做多道指ETF-ProShares","SDOW":"三倍做空道指30ETF-ProShares","DOG":"道指ETF-ProShares做空","SPY":"标普500ETF","TQQQ":"纳指三倍做多ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2152669205","content_text":"美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。\n但他重申，由于经济的重新开放，供应和劳动力短缺导致的物价上涨是暂时的。\n上周公布的美国6月份消费者价格指数显示，CPI较上年同期上涨5.4%，为2008年以来的最高水平，也高于5%的市场预期；环比则增长0.9%，高于此前预测的0.5%。数据公布后，两党议员纷纷就通胀问题向鲍威尔提问。\n通胀或许不是暂时的\n随着鲍威尔的政策获得更多关注，有关美联储主席任命的问题也开始浮现。鲍威尔的任期将于明年2月初到期，白宫通常会提前几个月任命新主席，以便参议院确认。\n虽然绝大多数经济学家认为，拜登总统将遵循传统，继续任命鲍威尔为主席，但《美国前景》的编辑Robert Kuttner上周预测，拜登将任命新的人选。Kuttner是第一个报道耶伦将担任财政部长的人。\n俄亥俄州参议员、银行委员会主席、民主党人布朗在上周的听证会上严厉批评了鲍威尔，他认为宽松的监管使得银行变得更加肆无忌惮。颇具影响力的前总统候选人、参议员伊丽莎白·沃伦也提出了同样的批评。\n上周，上一届美联储主席耶伦回避了一位电视记者关于再次任命鲍威尔的提问，但她认为美联储已经做得很好。\n在危机结束、经济强劲反弹后，鲍威尔继续全力购买资产，利率接近于零，这也正是耶伦想要鲍威尔做的。\n但是，美联储的独立性开始受到怀疑，因为鲍威尔尽职地跟随前任主席的政策，而联邦公开市场委员会的成员们也都墨守成规。\n通常，生产者价格指数是消费者价格指数的先行指标。美国6月份PPI环比上涨1.0%，同比上涨7.3%。大多数银行预计价格压力还将持续一段时间。\n这些证据表明，鲍威尔坚称通胀是暂时的说法正变得越来越站不住脚。随着一年前价格低迷的基数效应消退，通胀本应该减弱，而持续数月的供应短缺只是暂时回避了这个问题。\n里士满联储主席对《华尔街日报》表示，美联储现在考虑减少目前每月1，200亿美元的债券购买规模还为时过早。因为在2020年2月大流行爆发前，就业与人口的比率为61.1%，但6月份仍只有58%，该数据需要稳定到59%以上政策制定者才能讨论缩减购债。\n圣路易斯联储主席詹姆斯•布拉德暗示，开始缩减债券购买规模的时机已经临近。他在一次采访中说：“我不需要明天就开始行动，但我认为我们已经做好了准备。”\n其他国家的央行决策者就没有那么犹豫不决了。加拿大央行宣布在4月份每周削减购债10亿加元的基础上扩大至30亿加元（合24亿美元），并在表示每周将进一步削减购债10亿加元（合7.84亿美元）。\n英国央行货币政策委员会外部成员Michael Saunders上周表示，英国央行应采取行动遏制通胀，并暗示他最早将在下月初的会议上投票支持减少债券购买。\n这标志着政策制定者正在转向鹰派，同时MPC的副行长兼成员David Ramsden也表示，在英国6月份CPI同比增长2.5%后，他对通货膨胀感到担忧。\n两位政策制定者表示，他们不同意央行行长Andrew Bailey的看法。Bailey坚持认为，央行保持政策不变是正确的。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SH":0.9,"SSO":0.9,"UDOW":0.9,"QID":0.9,".IXIC":0.9,"SPXU":0.9,"DJX":0.9,"ESmain":0.9,"DXD":0.9,"PSQ":0.9,"SDS":0.9,"QLD":0.9,"NQmain":0.9,"SQQQ":0.9,"IVV":0.9,"QQQ":0.9,"SPY":0.9,"OEF":0.9,"OEX":0.9,".SPX":0.9,"DOG":0.9,"DDM":0.9,".DJI":0.9,"TQQQ":0.9,"SDOW":0.9,"MNQmain":0.9,"UPRO":0.9}},"isVote":1,"tweetType":1,"viewCount":2011,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173369912,"gmtCreate":1626617771536,"gmtModify":1703762371236,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"liike","listText":"liike","text":"liike","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/173369912","repostId":"1160796593","repostType":4,"repost":{"id":"1160796593","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626606185,"share":"https://ttm.financial/m/news/1160796593?lang=en_US&edition=fundamental","pubTime":"2021-07-18 19:03","market":"other","language":"zh","title":"OPEC + agrees to increase oil production, ending current stalemate","url":"https://stock-news.laohu8.com/highlight/detail?id=1160796593","media":"老虎资讯综合","summary":"7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和","content":"<p>On July 18, OPEC and its allies agreed to gradually increase oil supplies to the market after Saudi Arabia and the United Arab Emirates settled a dispute that blocked the agreement. Delegates at the meeting said that the organization will increase production by up to 400,000 barrels per day per month until all idle production capacity is restored. Under the agreement, the United Arab Emirates, Iraq and Kuwait will receive higher production quotas from May 2022. The deal will ease the looming supply tightness and reduce the risk of higher oil prices. It also capped a stalemate that had rattled traders.</p><p>OPEC + agreed to a new baseline for the UAE's crude oil production cuts of 3.5 million barrels per day, which will take effect in May 2022.</p><p>In addition to the United Arab Emirates, other OPEC + members are also expected to obtain new production reduction benchmarks, with Iraq and Kuwait increasing their production baselines by 150,000 barrels per day each.</p><p>OPEC + agreed to adjust the benchmark oil production of Saudi Arabia and Russia to 11.5 million barrels per day from the previous 11 million barrels per day starting in May 2022.</p><p>OPEC + also agreed to further relax production cuts from August, with a new crude oil production reduction baseline taking effect in May 2022.</p><p>OPEC + has reached an agreement on crude oil production. The next OPEC + meeting will be held on September 21, agreeing to extend the production reduction agreement until the end of 2022.</p><p>The OPEC draft statement shows that OPEC + plans to completely cancel the 5.8 million barrels per day production cut before September 2022, when market conditions permit.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>OPEC + agrees to increase oil production, ending current stalemate</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOPEC + agrees to increase oil production, ending current stalemate\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-18 19:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On July 18, OPEC and its allies agreed to gradually increase oil supplies to the market after Saudi Arabia and the United Arab Emirates settled a dispute that blocked the agreement. Delegates at the meeting said that the organization will increase production by up to 400,000 barrels per day per month until all idle production capacity is restored. Under the agreement, the United Arab Emirates, Iraq and Kuwait will receive higher production quotas from May 2022. The deal will ease the looming supply tightness and reduce the risk of higher oil prices. It also capped a stalemate that had rattled traders.</p><p>OPEC + agreed to a new baseline for the UAE's crude oil production cuts of 3.5 million barrels per day, which will take effect in May 2022.</p><p>In addition to the United Arab Emirates, other OPEC + members are also expected to obtain new production reduction benchmarks, with Iraq and Kuwait increasing their production baselines by 150,000 barrels per day each.</p><p>OPEC + agreed to adjust the benchmark oil production of Saudi Arabia and Russia to 11.5 million barrels per day from the previous 11 million barrels per day starting in May 2022.</p><p>OPEC + also agreed to further relax production cuts from August, with a new crude oil production reduction baseline taking effect in May 2022.</p><p>OPEC + has reached an agreement on crude oil production. The next OPEC + meeting will be held on September 21, agreeing to extend the production reduction agreement until the end of 2022.</p><p>The OPEC draft statement shows that OPEC + plans to completely cancel the 5.8 million barrels per day production cut before September 2022, when market conditions permit.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ba0e918dfd4ec815c4f78fc4cfc3ea3e","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160796593","content_text":"7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和科威特从2022年5月起将获得更高的产量配额。协议将缓解迫在眉睫的供应紧张，并降低油价上涨的风险。这也为一场令交易员不安的僵局画上了句号。\nOPEC+同意阿联酋的原油减产新基线为350万桶/日，将于2022年5月开始生效。\n除了阿联酋，其他OPEC+成员也有望获得新的减产基准，伊拉克和科威特的产量基线分别提高15万桶/天。\n欧佩克+同意从2022年5月开始，将沙特和俄罗斯的基准石油产量从之前的1100万桶/日调整为1150万桶/日。\nOPEC+还同意从8月起进一步放宽减产，新的原油减产基准线将于2022年5月生效。\n欧佩克+已经就原油生产问题达成协议，下一次欧佩克+会议将在9月21日举行，同意将减产协议延长至2022年底。\n欧佩克草案声明显示，欧佩克+计划在2022年9月之前，在市场条件允许的情况下，全面取消580万桶/日的减产。","news_type":1,"symbols_score_info":{"BZmain":0.9,"CLmain":0.9}},"isVote":1,"tweetType":1,"viewCount":1580,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173360775,"gmtCreate":1626617748397,"gmtModify":1703762370415,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/173360775","repostId":"1172207687","repostType":4,"isVote":1,"tweetType":1,"viewCount":1075,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179153661,"gmtCreate":1626495564153,"gmtModify":1703761145119,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/179153661","repostId":"1130243635","repostType":4,"isVote":1,"tweetType":1,"viewCount":676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170789201,"gmtCreate":1626451187003,"gmtModify":1703760531035,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170789201","repostId":"2151742215","repostType":4,"repost":{"id":"2151742215","kind":"highlight","pubTimestamp":1626409222,"share":"https://ttm.financial/m/news/2151742215?lang=en_US&edition=fundamental","pubTime":"2021-07-16 12:20","market":"us","language":"zh","title":"What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks","url":"https://stock-news.laohu8.com/highlight/detail?id=2151742215","media":"华尔街见闻","summary":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含","content":"<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-07-16 12:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3635582\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ab1815ec48bd4c5f20d5928cc3337253","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","DXD":"两倍做空道琼30指数ETF-ProShares","SH":"做空标普500-Proshares","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares",".SPX":"S&P 500 Index","DOG":"道指ETF-ProShares做空","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","SPY":"标普500ETF","DJX":"1/100道琼斯","TQQQ":"纳指三倍做多ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","OEX":"标普100","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF"},"source_url":"https://wallstreetcn.com/articles/3635582","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151742215","content_text":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。\n\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n\n目前，这一隐含相关性已经开始从接近历史低点的水平回升：\n\n与此同时，近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。\n\n对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SPXU":0.9,"MNQmain":0.9,"SH":0.9,"DJX":0.9,"SDOW":0.9,"QID":0.9,"OEF":0.9,"IVV":0.9,"SQQQ":0.9,"SPY":0.9,"ESmain":0.9,"SDS":0.9,"TQQQ":0.9,".DJI":0.9,"DXD":0.9,"OEX":0.9,"SSO":0.9,"UDOW":0.9,".SPX":0.9,"NQmain":0.9,"DOG":0.9,"UPRO":0.9,"QQQ":0.9,"QLD":0.9,"PSQ":0.9,"DDM":0.9}},"isVote":1,"tweetType":1,"viewCount":837,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144132447,"gmtCreate":1626271186489,"gmtModify":1703756800598,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/144132447","repostId":"1156462382","repostType":4,"repost":{"id":"1156462382","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626270302,"share":"https://ttm.financial/m/news/1156462382?lang=en_US&edition=fundamental","pubTime":"2021-07-14 21:45","market":"us","language":"en","title":"Compass Minerals shares rises 17% in early trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1156462382","media":"Tiger Newspress","summary":"Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it ","content":"<p>Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.</p>\n<p><img src=\"https://static.tigerbbs.com/91984098c8c865b53eed65937700dad5\" tg-width=\"1273\" tg-height=\"587\" referrerpolicy=\"no-referrer\"></p>\n<p>The announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.</p>\n<p>The company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.</p>\n<p>A large part of lithium is extracted from brine or seawater.</p>\n<p>Electric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.</p>\n<p>The company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.</p>\n<p>Compass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.</p>\n<p>The company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Compass Minerals shares rises 17% in early trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCompass Minerals shares rises 17% in early trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-14 21:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.</p>\n<p><img src=\"https://static.tigerbbs.com/91984098c8c865b53eed65937700dad5\" tg-width=\"1273\" tg-height=\"587\" referrerpolicy=\"no-referrer\"></p>\n<p>The announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.</p>\n<p>The company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.</p>\n<p>A large part of lithium is extracted from brine or seawater.</p>\n<p>Electric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.</p>\n<p>The company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.</p>\n<p>Compass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.</p>\n<p>The company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CMP":"罗盘矿物"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156462382","content_text":"Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.\n\nThe announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.\nThe company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.\nA large part of lithium is extracted from brine or seawater.\nElectric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.\nThe company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.\nCompass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.\nThe company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt 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commnet","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/197589583","repostId":"1129952039","repostType":4,"repost":{"id":"1129952039","kind":"news","pubTimestamp":1621466041,"share":"https://ttm.financial/m/news/1129952039?lang=en_US&edition=fundamental","pubTime":"2021-05-20 07:14","market":"us","language":"en","title":"U.S. stocks drop after Fed minutes, crypto fall","url":"https://stock-news.laohu8.com/highlight/detail?id=1129952039","media":"Reuters","summary":"(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal","content":"<p>(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s goals, with some considering discussions on tapering its bond buying program.</p><p>The S&amp;P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate “at some point” in upcoming meetings to begin discussing a tapering of the Fed’s monthly purchases of government bonds, a policy designed to keep long-term interest rates low.</p><p>“There continues to be a view and a perspective from the participants, as well as the Fed staff that these inflationary pressures that are beginning to become evident will remain transitory in their view and will likely recede as we transition into 2022,” said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis.</p><p>Strong inflation readings and signs of a worker shortage in recent weeks have fueled fears and roiled stock markets despite reassurances from Fed officials that the rise in prices would be temporary.</p><p>All three main indexes hit their session lows in morning trade after opening sharply lower, then partially recovered before the release of the Fed minutes pressured them anew.</p><p>The Dow Jones Industrial Average fell 164.62 points, or 0.48%, to 33,896.04, the S&amp;P 500 lost 12.15 points, or 0.29%, to 4,115.68 and the Nasdaq Composite dropped 3.90 points, or 0.03%, to 13,299.74.</p><p>Volume on U.S. exchanges was 10.70 billion shares, compared with the 10.60 billion average for the full session over the last 20 trading days.</p><p>Contributing to a risk-off mood on Wednesday, Bitcoin and ether plunged in the wake of China’s move to ban financial and payment institutions from providing cryptocurrency services.</p><p>The two main digital currencies fell as much as 30% and 45%, respectively, but they significantly stemmed their losses in afternoon trading after two of their biggest backers -- Tesla Inc chief Elon Musk and Ark Invest’s chief executive officer Cathie Wood -- reiterated their support for bitcoin.</p><p>Crypto-exchange operator Coinbase Global ,miners Riot Blockchain and Marathon Digital Holdings saw their shares sharply decline on Wednesday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.15-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 3 new 52-week highs and no new lows; the Nasdaq Composite recorded 34 new highs and 49 new lows.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report</i></b></p><p><a href=\"https://laohu8.com/NW/1160173685\" target=\"_blank\">4.5 Billion Parcels Expanded Market Share to 20.4%</a></p><p><a href=\"https://laohu8.com/NW/1178296022\" target=\"_blank\">KE Holdings EPS beats by $0.04, beats on revenue</a></p><p><a href=\"https://laohu8.com/NW/2136465859\" target=\"_blank\">Victoria's Secret parent L Brands swings to quarterly profit as sales rise</a></p><p><a href=\"https://laohu8.com/NW/2136594667\" target=\"_blank\">Cisco stock drops as higher costs amid chip shortage ding earnings outlook</a></p><p><a href=\"https://laohu8.com/NW/2136450339\" target=\"_blank\">Chip Design Software Firm Synopsys Trounces Fiscal Second-Quarter Targets</a></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stocks drop after Fed minutes, crypto fall</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ 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}\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stocks drop after Fed minutes, crypto fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-20 07:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129952039","content_text":"(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s goals, with some considering discussions on tapering its bond buying program.The S&P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate “at some point” in upcoming meetings to begin discussing a tapering of the Fed’s monthly purchases of government bonds, a policy designed to keep long-term interest rates low.“There continues to be a view and a perspective from the participants, as well as the Fed staff that these inflationary pressures that are beginning to become evident will remain transitory in their view and will likely recede as we transition into 2022,” said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis.Strong inflation readings and signs of a worker shortage in recent weeks have fueled fears and roiled stock markets despite reassurances from Fed officials that the rise in prices would be temporary.All three main indexes hit their session lows in morning trade after opening sharply lower, then partially recovered before the release of the Fed minutes pressured them anew.The Dow Jones Industrial Average fell 164.62 points, or 0.48%, to 33,896.04, the S&P 500 lost 12.15 points, or 0.29%, to 4,115.68 and the Nasdaq Composite dropped 3.90 points, or 0.03%, to 13,299.74.Volume on U.S. exchanges was 10.70 billion shares, compared with the 10.60 billion average for the full session over the last 20 trading days.Contributing to a risk-off mood on Wednesday, Bitcoin and ether plunged in the wake of China’s move to ban financial and payment institutions from providing cryptocurrency services.The two main digital currencies fell as much as 30% and 45%, respectively, but they significantly stemmed their losses in afternoon trading after two of their biggest backers -- Tesla Inc chief Elon Musk and Ark Invest’s chief executive officer Cathie Wood -- reiterated their support for bitcoin.Crypto-exchange operator Coinbase Global ,miners Riot Blockchain and Marathon Digital Holdings saw their shares sharply decline on Wednesday.Declining issues outnumbered advancing ones on the NYSE by a 2.15-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners.The S&P 500 posted 3 new 52-week highs and no new lows; the Nasdaq Composite recorded 34 new highs and 49 new lows.Financial Report4.5 Billion Parcels Expanded Market Share to 20.4%KE Holdings EPS beats by $0.04, beats on revenueVictoria's Secret parent L Brands swings to quarterly profit as sales riseCisco stock drops as higher costs amid chip shortage ding earnings outlookChip Design Software Firm Synopsys Trounces Fiscal Second-Quarter Targets","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":691,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573389522852737","authorId":"3573389522852737","name":"LinHart","avatar":"https://static.tigerbbs.com/fbf1f25929c3988f5317075647c2ecad","crmLevel":11,"crmLevelSwitch":1,"authorIdStr":"3573389522852737","idStr":"3573389522852737"},"content":"Comment back plS","text":"Comment back plS","html":"Comment back plS"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":197589583,"gmtCreate":1621473491242,"gmtModify":1704358135289,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and commnet","listText":"like and commnet","text":"like and commnet","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/197589583","repostId":"1129952039","repostType":4,"repost":{"id":"1129952039","kind":"news","pubTimestamp":1621466041,"share":"https://ttm.financial/m/news/1129952039?lang=en_US&edition=fundamental","pubTime":"2021-05-20 07:14","market":"us","language":"en","title":"U.S. stocks drop after Fed minutes, crypto fall","url":"https://stock-news.laohu8.com/highlight/detail?id=1129952039","media":"Reuters","summary":"(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal","content":"<p>(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s goals, with some considering discussions on tapering its bond buying program.</p><p>The S&amp;P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate “at some point” in upcoming meetings to begin discussing a tapering of the Fed’s monthly purchases of government bonds, a policy designed to keep long-term interest rates low.</p><p>“There continues to be a view and a perspective from the participants, as well as the Fed staff that these inflationary pressures that are beginning to become evident will remain transitory in their view and will likely recede as we transition into 2022,” said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis.</p><p>Strong inflation readings and signs of a worker shortage in recent weeks have fueled fears and roiled stock markets despite reassurances from Fed officials that the rise in prices would be temporary.</p><p>All three main indexes hit their session lows in morning trade after opening sharply lower, then partially recovered before the release of the Fed minutes pressured them anew.</p><p>The Dow Jones Industrial Average fell 164.62 points, or 0.48%, to 33,896.04, the S&amp;P 500 lost 12.15 points, or 0.29%, to 4,115.68 and the Nasdaq Composite dropped 3.90 points, or 0.03%, to 13,299.74.</p><p>Volume on U.S. exchanges was 10.70 billion shares, compared with the 10.60 billion average for the full session over the last 20 trading days.</p><p>Contributing to a risk-off mood on Wednesday, Bitcoin and ether plunged in the wake of China’s move to ban financial and payment institutions from providing cryptocurrency services.</p><p>The two main digital currencies fell as much as 30% and 45%, respectively, but they significantly stemmed their losses in afternoon trading after two of their biggest backers -- Tesla Inc chief Elon Musk and Ark Invest’s chief executive officer Cathie Wood -- reiterated their support for bitcoin.</p><p>Crypto-exchange operator Coinbase Global ,miners Riot Blockchain and Marathon Digital Holdings saw their shares sharply decline on Wednesday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.15-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 3 new 52-week highs and no new lows; the Nasdaq Composite recorded 34 new highs and 49 new lows.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report</i></b></p><p><a href=\"https://laohu8.com/NW/1160173685\" target=\"_blank\">4.5 Billion Parcels Expanded Market Share to 20.4%</a></p><p><a href=\"https://laohu8.com/NW/1178296022\" target=\"_blank\">KE Holdings EPS beats by $0.04, beats on revenue</a></p><p><a href=\"https://laohu8.com/NW/2136465859\" target=\"_blank\">Victoria's Secret parent L Brands swings to quarterly profit as sales rise</a></p><p><a href=\"https://laohu8.com/NW/2136594667\" target=\"_blank\">Cisco stock drops as higher costs amid chip shortage ding earnings outlook</a></p><p><a href=\"https://laohu8.com/NW/2136450339\" target=\"_blank\">Chip Design Software Firm Synopsys Trounces Fiscal Second-Quarter Targets</a></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stocks drop after Fed minutes, crypto fall</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ 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.h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stocks drop after Fed minutes, crypto fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-20 07:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129952039","content_text":"(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s goals, with some considering discussions on tapering its bond buying program.The S&P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate “at some point” in upcoming meetings to begin discussing a tapering of the Fed’s monthly purchases of government bonds, a policy designed to keep long-term interest rates low.“There continues to be a view and a perspective from the participants, as well as the Fed staff that these inflationary pressures that are beginning to become evident will remain transitory in their view and will likely recede as we transition into 2022,” said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis.Strong inflation readings and signs of a worker shortage in recent weeks have fueled fears and roiled stock markets despite reassurances from Fed officials that the rise in prices would be temporary.All three main indexes hit their session lows in morning trade after opening sharply lower, then partially recovered before the release of the Fed minutes pressured them anew.The Dow Jones Industrial Average fell 164.62 points, or 0.48%, to 33,896.04, the S&P 500 lost 12.15 points, or 0.29%, to 4,115.68 and the Nasdaq Composite dropped 3.90 points, or 0.03%, to 13,299.74.Volume on U.S. exchanges was 10.70 billion shares, compared with the 10.60 billion average for the full session over the last 20 trading days.Contributing to a risk-off mood on Wednesday, Bitcoin and ether plunged in the wake of China’s move to ban financial and payment institutions from providing cryptocurrency services.The two main digital currencies fell as much as 30% and 45%, respectively, but they significantly stemmed their losses in afternoon trading after two of their biggest backers -- Tesla Inc chief Elon Musk and Ark Invest’s chief executive officer Cathie Wood -- reiterated their support for bitcoin.Crypto-exchange operator Coinbase Global ,miners Riot Blockchain and Marathon Digital Holdings saw their shares sharply decline on Wednesday.Declining issues outnumbered advancing ones on the NYSE by a 2.15-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners.The S&P 500 posted 3 new 52-week highs and no new lows; the Nasdaq Composite recorded 34 new highs and 49 new lows.Financial Report4.5 Billion Parcels Expanded Market Share to 20.4%KE Holdings EPS beats by $0.04, beats on revenueVictoria's Secret parent L Brands swings to quarterly profit as sales riseCisco stock drops as higher costs amid chip shortage ding earnings outlookChip Design Software Firm Synopsys Trounces Fiscal Second-Quarter Targets","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":691,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573389522852737","authorId":"3573389522852737","name":"LinHart","avatar":"https://static.tigerbbs.com/fbf1f25929c3988f5317075647c2ecad","crmLevel":11,"crmLevelSwitch":1,"authorIdStr":"3573389522852737","idStr":"3573389522852737"},"content":"Comment back plS","text":"Comment back plS","html":"Comment back plS"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102438857,"gmtCreate":1620229217379,"gmtModify":1704340551029,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/102438857","repostId":"1148686352","repostType":4,"repost":{"id":"1148686352","kind":"news","pubTimestamp":1620224535,"share":"https://ttm.financial/m/news/1148686352?lang=en_US&edition=fundamental","pubTime":"2021-05-05 22:22","market":"us","language":"en","title":"This Day In Market History: Panic Of 1893 Crashes Stock Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1148686352","media":"benzinga","summary":"What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the ","content":"<div>\n<p>What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the time.\nWhere The Market Was:The Dow finished the day at 30.02.\nWhat Else Was Going On In The World?In...</p>\n\n<a href=\"https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market\">Source Link</a>\n\n</div>\n","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Day In Market History: Panic Of 1893 Crashes Stock Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ 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#eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Day In Market History: Panic Of 1893 Crashes Stock Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market><strong>benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the time.\nWhere The Market Was:The Dow finished the day at 30.02.\nWhat Else Was Going On In The World?In...</p>\n\n<a href=\"https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148686352","content_text":"What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the time.\nWhere The Market Was:The Dow finished the day at 30.02.\nWhat Else Was Going On In The World?In 1893, Thomas Edison completed the world’s first movie studio in West Orange, New Jersey. Lizzie Borden was acquitted of the ax murders of her father and stepmother. A fresh, one-pound beef steak cost 10 cents.\nPanic Of 1893:On May 5, 1893, the Dow Jones Index dropped more than 24% from 39.90 to 30.02. It would mark the worst intraday sell-off in U.S. history at the time, a record that would stand until 1929.\nThe Panic of 1893 was triggered in part by falling gold reserves in the U.S. Treasury. At the time, the U.S. was on the gold standard, meaning U.S. dollars could be redeemed for physical gold. When Treasury gold reserves dropped from $190 million in 1890 to $100 million by 1893, Americans grew concerned that the Treasury might run out of gold and began withdrawing bank notes and converting them to gold, placing extreme strain on the U.S. banking industry and credit markets.\nThe May 5 sell-off was triggered in part by the bankruptcy of Nation Cordage the day before.General Electric CompanyGE 0.34%shares dropped 28% on the day from $80 to $58.\nFortunately for investors, the Panic of 1893 didn’t last for long. By the end of the day, the market nearly completely recovered its losses. GE, for example, closed the session at $78.50.\nThe Panic of 1893 would ravage the U.S. economy, triggering a severe four-year depression. Roughly 14,000 U.S. businesses closed, and unemployment rose to 20%. The event would mark the worst economic downturn in U.S. history until the Great Depression began in 1929.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":695,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574980150965538","authorId":"3574980150965538","name":"ZefactoTrader","avatar":"https://static.tigerbbs.com/394063a289e727c8c5c2734207c9aabd","crmLevel":11,"crmLevelSwitch":1,"authorIdStr":"3574980150965538","idStr":"3574980150965538"},"content":"Help like this reply","text":"Help like this reply","html":"Help like this reply"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194754990,"gmtCreate":1621404126010,"gmtModify":1704357082733,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/194754990","repostId":"2136999458","repostType":4,"repost":{"id":"2136999458","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1621372003,"share":"https://ttm.financial/m/news/2136999458?lang=en_US&edition=fundamental","pubTime":"2021-05-19 05:06","market":"us","language":"en","title":"Wall Street closes lower on weak telecom stocks despite strong retail earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=2136999458","media":"Reuters","summary":"May 18 (Reuters) - U.S. stocks ended down on Tuesday, slumping on a sharp decline in telecom stocks ","content":"<p>May 18 (Reuters) - U.S. stocks ended down on Tuesday, slumping on a sharp decline in telecom stocks and weak housing starts data that overshadowed better-than-expected earnings from Walmart and Home Depot.</p><p>AT&amp;T Inc&nbsp;shed 5.8%, among the biggest percentage decliners in the benchmark S&amp;P 500. It extended declines from Monday, when the telecoms firm said it would cut its dividend payout ratio as a result of its $43 billion media asset deal with Discovery Inc   .</p><p>T-Mobile&nbsp;and Verizon Communications    also dropped 3.71% and 1.31%.</p><p>Eight of 11 major S&amp;P sectors ended the session in the red,  with Energy    and Industrials    having largest percentage decline, according to Refinitiv data. Utilities were basically flat.</p><p>The three main indexes opened higher after Walmart, the world's biggest retailer   , raised its full-year earnings forecast and Home Depot    reported quarterly same-store sales above estimates.</p><p>\"Those are both emblematic of strength in the corporate sector and also of the consumer. I mean, you can't have Walmart and Home Depot have blowout earnings without the consumer really stepping up spending stimulus checks, adopting ecommerce, as well as getting back into stores\", said Ross Mayfield, investment strategist at Baird in Louisville, Kentucky. \"And a lot of the bull thesis for the market right now is still built on a really strong reopening of the economy.\"</p><p>Despite its strong results, Home Depot's shares went down 1.02%, under pressure due to the lack of a solid outlook and the housing data.</p><p>Latest data showed U.S. homebuilding fell more than expected in April, likely pulled down by soaring prices for lumber and other materials.</p><p>Minutes from the Fed's April policy meeting will be parsed on Wednesday for the central bank's view of the economy.</p><p>\"The market is bracing for a transition,\" said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. \"So there's a little bit of de-risking going on.\"</p><p>Wall Street has been volatile in recent days, with investors worried that an overheating economy could prompt the Federal Reserve to rein in its monetary support following a spike in volatility last week after strong inflation readings.</p><p>The Dow Jones Industrial Average    fell 267.13 points, or 0.78%, to 34,060.66, the S&amp;P 500    lost 35.46 points, or 0.85%, to 4,127.83 and the Nasdaq Composite    dropped 75.41 points, or 0.56%, to 13,303.64.</p><p>Fund managers recently trimmed their overweight positions on technology stocks to a three-year low as inflation worries left growth stocks vulnerable to a pullback, and turned overweight on UK stocks for the first time in seven years, a survey from Bank of America showed.</p><p>Volume on U.S. exchanges was 10.01 billion shares, compared with the 10.48 billion average for the full session over the last 20 trading days.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.07-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 105 new highs and 50 new lows.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report</i></b></p><p><a href=\"https://laohu8.com/NW/2136994595\" target=\"_blank\">Take-Two stock rises following earnings beat</a></p><p><a href=\"https://laohu8.com/NW/2136994482\" target=\"_blank\">Trip.com rises 6% as first quarter brings surprise profit, revenue turnaround</a></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street closes lower on weak telecom stocks despite strong retail earnings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street closes lower on weak telecom stocks despite strong retail earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-05-19 05:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>May 18 (Reuters) - U.S. stocks ended down on Tuesday, slumping on a sharp decline in telecom stocks and weak housing starts data that overshadowed better-than-expected earnings from Walmart and Home Depot.</p><p>AT&amp;T Inc&nbsp;shed 5.8%, among the biggest percentage decliners in the benchmark S&amp;P 500. It extended declines from Monday, when the telecoms firm said it would cut its dividend payout ratio as a result of its $43 billion media asset deal with Discovery Inc   .</p><p>T-Mobile&nbsp;and Verizon Communications    also dropped 3.71% and 1.31%.</p><p>Eight of 11 major S&amp;P sectors ended the session in the red,  with Energy    and Industrials    having largest percentage decline, according to Refinitiv data. Utilities were basically flat.</p><p>The three main indexes opened higher after Walmart, the world's biggest retailer   , raised its full-year earnings forecast and Home Depot    reported quarterly same-store sales above estimates.</p><p>\"Those are both emblematic of strength in the corporate sector and also of the consumer. I mean, you can't have Walmart and Home Depot have blowout earnings without the consumer really stepping up spending stimulus checks, adopting ecommerce, as well as getting back into stores\", said Ross Mayfield, investment strategist at Baird in Louisville, Kentucky. \"And a lot of the bull thesis for the market right now is still built on a really strong reopening of the economy.\"</p><p>Despite its strong results, Home Depot's shares went down 1.02%, under pressure due to the lack of a solid outlook and the housing data.</p><p>Latest data showed U.S. homebuilding fell more than expected in April, likely pulled down by soaring prices for lumber and other materials.</p><p>Minutes from the Fed's April policy meeting will be parsed on Wednesday for the central bank's view of the economy.</p><p>\"The market is bracing for a transition,\" said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. \"So there's a little bit of de-risking going on.\"</p><p>Wall Street has been volatile in recent days, with investors worried that an overheating economy could prompt the Federal Reserve to rein in its monetary support following a spike in volatility last week after strong inflation readings.</p><p>The Dow Jones Industrial Average    fell 267.13 points, or 0.78%, to 34,060.66, the S&amp;P 500    lost 35.46 points, or 0.85%, to 4,127.83 and the Nasdaq Composite    dropped 75.41 points, or 0.56%, to 13,303.64.</p><p>Fund managers recently trimmed their overweight positions on technology stocks to a three-year low as inflation worries left growth stocks vulnerable to a pullback, and turned overweight on UK stocks for the first time in seven years, a survey from Bank of America showed.</p><p>Volume on U.S. exchanges was 10.01 billion shares, compared with the 10.48 billion average for the full session over the last 20 trading days.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.07-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 105 new highs and 50 new lows.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report</i></b></p><p><a href=\"https://laohu8.com/NW/2136994595\" target=\"_blank\">Take-Two stock rises following earnings beat</a></p><p><a href=\"https://laohu8.com/NW/2136994482\" target=\"_blank\">Trip.com rises 6% as first quarter brings surprise profit, revenue turnaround</a></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136999458","content_text":"May 18 (Reuters) - U.S. stocks ended down on Tuesday, slumping on a sharp decline in telecom stocks and weak housing starts data that overshadowed better-than-expected earnings from Walmart and Home Depot.AT&T Inc shed 5.8%, among the biggest percentage decliners in the benchmark S&P 500. It extended declines from Monday, when the telecoms firm said it would cut its dividend payout ratio as a result of its $43 billion media asset deal with Discovery Inc   .T-Mobile and Verizon Communications    also dropped 3.71% and 1.31%.Eight of 11 major S&P sectors ended the session in the red,  with Energy    and Industrials    having largest percentage decline, according to Refinitiv data. Utilities were basically flat.The three main indexes opened higher after Walmart, the world's biggest retailer   , raised its full-year earnings forecast and Home Depot    reported quarterly same-store sales above estimates.\"Those are both emblematic of strength in the corporate sector and also of the consumer. I mean, you can't have Walmart and Home Depot have blowout earnings without the consumer really stepping up spending stimulus checks, adopting ecommerce, as well as getting back into stores\", said Ross Mayfield, investment strategist at Baird in Louisville, Kentucky. \"And a lot of the bull thesis for the market right now is still built on a really strong reopening of the economy.\"Despite its strong results, Home Depot's shares went down 1.02%, under pressure due to the lack of a solid outlook and the housing data.Latest data showed U.S. homebuilding fell more than expected in April, likely pulled down by soaring prices for lumber and other materials.Minutes from the Fed's April policy meeting will be parsed on Wednesday for the central bank's view of the economy.\"The market is bracing for a transition,\" said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. \"So there's a little bit of de-risking going on.\"Wall Street has been volatile in recent days, with investors worried that an overheating economy could prompt the Federal Reserve to rein in its monetary support following a spike in volatility last week after strong inflation readings.The Dow Jones Industrial Average    fell 267.13 points, or 0.78%, to 34,060.66, the S&P 500    lost 35.46 points, or 0.85%, to 4,127.83 and the Nasdaq Composite    dropped 75.41 points, or 0.56%, to 13,303.64.Fund managers recently trimmed their overweight positions on technology stocks to a three-year low as inflation worries left growth stocks vulnerable to a pullback, and turned overweight on UK stocks for the first time in seven years, a survey from Bank of America showed.Volume on U.S. exchanges was 10.01 billion shares, compared with the 10.48 billion average for the full session over the last 20 trading days.Declining issues outnumbered advancing ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.07-to-1 ratio favored advancers.The S&P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 105 new highs and 50 new lows.Financial ReportTake-Two stock rises following earnings beatTrip.com rises 6% as first quarter brings surprise profit, revenue turnaround","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198545624,"gmtCreate":1620974681168,"gmtModify":1704351397930,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/198545624","repostId":"2135945620","repostType":4,"repost":{"id":"2135945620","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1620936034,"share":"https://ttm.financial/m/news/2135945620?lang=en_US&edition=fundamental","pubTime":"2021-05-14 04:00","market":"us","language":"en","title":"Wall Street closes higher in 'buy the dip' session","url":"https://stock-news.laohu8.com/highlight/detail?id=2135945620","media":"Reuters","summary":"NEW YORK, May 13  - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.\"If this is a footrace, supply chains are still tying th","content":"<p>NEW YORK, May 13 (Reuters) - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.</p><p>All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.</p><p>Meanwhile, cyclical shares enjoyed the biggest gains.</p><p>Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.</p><p>\"If this is a footrace, supply chains are still tying their shoes,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York. \"But they will catch up with demand fairly quickly.\"</p><p>But on Thursday, investors appeared to be focusing on the glass-half-full side of the demand/supply equation.</p><p>This was evidenced by the outperformance of small caps, chips&nbsp;and transports , economically sensitive stocks that stand to gain as the United States emerges from the pandemic recession.</p><p>\"Sectors and stocks that were hurt most significantly by yesterday's sell-off rebounded strongly today given that economic growth is expected to remain strong throughout the year and any inflation is likely to be temporary,\" Carter added.</p><p>New applications for unemployment insurance continue to fall, according to jobless claims data from the Labor Department that hit a 14-month low.</p><p>Labor Department data also showed producer prices surged last month, building on the inflation surge narrative of Wednesday's consumer prices report.</p><p>\"The inflation boogeyman is back right on cue,\" Carter said. \"And will continue to spook markets for the coming months.\"</p><p>But rising prices were widely anticipated, and the U.S. Federal Reserve has provided repeated assurances that it does not foresee those spikes morphing into sustained, long-term inflation.</p><p>The Dow Jones Industrial Average rose 433.79 points, or 1.29%, to 34,021.45, the S&amp;P 500 gained 49.46 points, or 1.22%, to 4,112.5 and the Nasdaq Composite added 93.31 points, or 0.72%, to 13,124.99.</p><p>Of the 11 major sectors in the S&amp;P 500, 10 ended green, with industrials enjoying the largest percentage gain.</p><p>Energy, weighed by a drop in crude prices, was the sole loser, shedding 1.4%. [O/R]</p><p>Walt Disney Co shares were down nearly 5% in after-hours trading after posting quarterly results.</p><p>Dating app owner Bumble Inc tumbled 14.3%, falling below its initial public offering price, as investors remained cautious about how quickly users will return to in-person meetings.</p><p>Boeing Co rose 0.8% after gaining approval from U.S. regulators for a fix of an electrical grounding issue.</p><p>Tesla continued its slide, dropping 3.1%, the heaviest drag on the Nasdaq, after boss Elon Musk doubled down on his sudden rejection of cryptocurrency bitcoin.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.91-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 13 new 52-week highs and no new lows; the Nasdaq Composite recorded 49 new highs and 201 new lows.</p><p>Volume on U.S. exchanges was 11.50 billion shares, compared with the 10.53 billion average over the last 20 trading days.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report：</i></b></p><p><a href=\"https://laohu8.com/NW/1143623731\" target=\"_blank\">Disney+ subscriber growth is slowing like Netflix's — with one worrisome difference</a></p><p><a href=\"https://laohu8.com/NW/1149765041\" target=\"_blank\">Coinbase revenue tripled from last quarter,To Offer Dogecoin In 6 To 8 Weeks</a></p><p><a href=\"https://laohu8.com/NW/2135732206\" target=\"_blank\">Airbnb bookings jump 52% as vaccinations spur vacation rental demand</a></p><p><a href=\"https://laohu8.com/NW/2135555675\" target=\"_blank\">DoorDash triples gross order volume and nearly triples revenue in first quarter</a></p><p><a href=\"https://laohu8.com/NW/2135283678\" target=\"_blank\">Aurora Cannabis stock plunges amid more large losses, stock-sale plans and cost cuts</a></p><p><a href=\"https://laohu8.com/NW/2135787576\" target=\"_blank\">Farfetch’s First-quarter Sales Run Up 46.4 Percent</a></p><p><a href=\"https://laohu8.com/NW/1100486329\" target=\"_blank\">Luminar stock dips after mixed Q1 report with wider than exp</a></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street closes higher in 'buy the dip' session</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street closes higher in 'buy the dip' session\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-05-14 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, May 13 (Reuters) - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.</p><p>All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.</p><p>Meanwhile, cyclical shares enjoyed the biggest gains.</p><p>Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.</p><p>\"If this is a footrace, supply chains are still tying their shoes,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York. \"But they will catch up with demand fairly quickly.\"</p><p>But on Thursday, investors appeared to be focusing on the glass-half-full side of the demand/supply equation.</p><p>This was evidenced by the outperformance of small caps, chips&nbsp;and transports , economically sensitive stocks that stand to gain as the United States emerges from the pandemic recession.</p><p>\"Sectors and stocks that were hurt most significantly by yesterday's sell-off rebounded strongly today given that economic growth is expected to remain strong throughout the year and any inflation is likely to be temporary,\" Carter added.</p><p>New applications for unemployment insurance continue to fall, according to jobless claims data from the Labor Department that hit a 14-month low.</p><p>Labor Department data also showed producer prices surged last month, building on the inflation surge narrative of Wednesday's consumer prices report.</p><p>\"The inflation boogeyman is back right on cue,\" Carter said. \"And will continue to spook markets for the coming months.\"</p><p>But rising prices were widely anticipated, and the U.S. Federal Reserve has provided repeated assurances that it does not foresee those spikes morphing into sustained, long-term inflation.</p><p>The Dow Jones Industrial Average rose 433.79 points, or 1.29%, to 34,021.45, the S&amp;P 500 gained 49.46 points, or 1.22%, to 4,112.5 and the Nasdaq Composite added 93.31 points, or 0.72%, to 13,124.99.</p><p>Of the 11 major sectors in the S&amp;P 500, 10 ended green, with industrials enjoying the largest percentage gain.</p><p>Energy, weighed by a drop in crude prices, was the sole loser, shedding 1.4%. [O/R]</p><p>Walt Disney Co shares were down nearly 5% in after-hours trading after posting quarterly results.</p><p>Dating app owner Bumble Inc tumbled 14.3%, falling below its initial public offering price, as investors remained cautious about how quickly users will return to in-person meetings.</p><p>Boeing Co rose 0.8% after gaining approval from U.S. regulators for a fix of an electrical grounding issue.</p><p>Tesla continued its slide, dropping 3.1%, the heaviest drag on the Nasdaq, after boss Elon Musk doubled down on his sudden rejection of cryptocurrency bitcoin.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.91-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 13 new 52-week highs and no new lows; the Nasdaq Composite recorded 49 new highs and 201 new lows.</p><p>Volume on U.S. exchanges was 11.50 billion shares, compared with the 10.53 billion average over the last 20 trading days.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report：</i></b></p><p><a href=\"https://laohu8.com/NW/1143623731\" target=\"_blank\">Disney+ subscriber growth is slowing like Netflix's — with one worrisome difference</a></p><p><a href=\"https://laohu8.com/NW/1149765041\" target=\"_blank\">Coinbase revenue tripled from last quarter,To Offer Dogecoin In 6 To 8 Weeks</a></p><p><a href=\"https://laohu8.com/NW/2135732206\" target=\"_blank\">Airbnb bookings jump 52% as vaccinations spur vacation rental demand</a></p><p><a href=\"https://laohu8.com/NW/2135555675\" target=\"_blank\">DoorDash triples gross order volume and nearly triples revenue in first quarter</a></p><p><a href=\"https://laohu8.com/NW/2135283678\" target=\"_blank\">Aurora Cannabis stock plunges amid more large losses, stock-sale plans and cost cuts</a></p><p><a href=\"https://laohu8.com/NW/2135787576\" target=\"_blank\">Farfetch’s First-quarter Sales Run Up 46.4 Percent</a></p><p><a href=\"https://laohu8.com/NW/1100486329\" target=\"_blank\">Luminar stock dips after mixed Q1 report with wider than exp</a></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2135945620","content_text":"NEW YORK, May 13 (Reuters) - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.Meanwhile, cyclical shares enjoyed the biggest gains.Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.\"If this is a footrace, supply chains are still tying their shoes,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York. \"But they will catch up with demand fairly quickly.\"But on Thursday, investors appeared to be focusing on the glass-half-full side of the demand/supply equation.This was evidenced by the outperformance of small caps, chips and transports , economically sensitive stocks that stand to gain as the United States emerges from the pandemic recession.\"Sectors and stocks that were hurt most significantly by yesterday's sell-off rebounded strongly today given that economic growth is expected to remain strong throughout the year and any inflation is likely to be temporary,\" Carter added.New applications for unemployment insurance continue to fall, according to jobless claims data from the Labor Department that hit a 14-month low.Labor Department data also showed producer prices surged last month, building on the inflation surge narrative of Wednesday's consumer prices report.\"The inflation boogeyman is back right on cue,\" Carter said. \"And will continue to spook markets for the coming months.\"But rising prices were widely anticipated, and the U.S. Federal Reserve has provided repeated assurances that it does not foresee those spikes morphing into sustained, long-term inflation.The Dow Jones Industrial Average rose 433.79 points, or 1.29%, to 34,021.45, the S&P 500 gained 49.46 points, or 1.22%, to 4,112.5 and the Nasdaq Composite added 93.31 points, or 0.72%, to 13,124.99.Of the 11 major sectors in the S&P 500, 10 ended green, with industrials enjoying the largest percentage gain.Energy, weighed by a drop in crude prices, was the sole loser, shedding 1.4%. [O/R]Walt Disney Co shares were down nearly 5% in after-hours trading after posting quarterly results.Dating app owner Bumble Inc tumbled 14.3%, falling below its initial public offering price, as investors remained cautious about how quickly users will return to in-person meetings.Boeing Co rose 0.8% after gaining approval from U.S. regulators for a fix of an electrical grounding issue.Tesla continued its slide, dropping 3.1%, the heaviest drag on the Nasdaq, after boss Elon Musk doubled down on his sudden rejection of cryptocurrency bitcoin.Advancing issues outnumbered declining ones on the NYSE by a 1.91-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.The S&P 500 posted 13 new 52-week highs and no new lows; the Nasdaq Composite recorded 49 new highs and 201 new lows.Volume on U.S. exchanges was 11.50 billion shares, compared with the 10.53 billion average over the last 20 trading days.Financial Report：Disney+ subscriber growth is slowing like Netflix's — with one worrisome differenceCoinbase revenue tripled from last quarter,To Offer Dogecoin In 6 To 8 WeeksAirbnb bookings jump 52% as vaccinations spur vacation rental demandDoorDash triples gross order volume and nearly triples revenue in first quarterAurora Cannabis stock plunges amid more large losses, stock-sale plans and cost cutsFarfetch’s First-quarter Sales Run Up 46.4 PercentLuminar stock dips after mixed Q1 report with wider than exp","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":372,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144132447,"gmtCreate":1626271186489,"gmtModify":1703756800598,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/144132447","repostId":"1156462382","repostType":4,"repost":{"id":"1156462382","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626270302,"share":"https://ttm.financial/m/news/1156462382?lang=en_US&edition=fundamental","pubTime":"2021-07-14 21:45","market":"us","language":"en","title":"Compass Minerals shares rises 17% in early trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1156462382","media":"Tiger Newspress","summary":"Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it ","content":"<p>Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.</p>\n<p><img src=\"https://static.tigerbbs.com/91984098c8c865b53eed65937700dad5\" tg-width=\"1273\" tg-height=\"587\" referrerpolicy=\"no-referrer\"></p>\n<p>The announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.</p>\n<p>The company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.</p>\n<p>A large part of lithium is extracted from brine or seawater.</p>\n<p>Electric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.</p>\n<p>The company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.</p>\n<p>Compass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.</p>\n<p>The company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Compass Minerals shares rises 17% in early trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCompass Minerals shares rises 17% in early trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-14 21:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.</p>\n<p><img src=\"https://static.tigerbbs.com/91984098c8c865b53eed65937700dad5\" tg-width=\"1273\" tg-height=\"587\" referrerpolicy=\"no-referrer\"></p>\n<p>The announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.</p>\n<p>The company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.</p>\n<p>A large part of lithium is extracted from brine or seawater.</p>\n<p>Electric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.</p>\n<p>The company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.</p>\n<p>Compass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.</p>\n<p>The company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CMP":"罗盘矿物"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156462382","content_text":"Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.\n\nThe announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.\nThe company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.\nA large part of lithium is extracted from brine or seawater.\nElectric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.\nThe company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.\nCompass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.\nThe company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake.","news_type":1,"symbols_score_info":{"CMP":0.9}},"isVote":1,"tweetType":1,"viewCount":594,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142008227,"gmtCreate":1626101851669,"gmtModify":1703753500732,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/142008227","repostId":"1157757312","repostType":4,"isVote":1,"tweetType":1,"viewCount":768,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178921110,"gmtCreate":1626783546830,"gmtModify":1703765076652,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/178921110","repostId":"1168215370","repostType":4,"isVote":1,"tweetType":1,"viewCount":2939,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170789201,"gmtCreate":1626451187003,"gmtModify":1703760531035,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170789201","repostId":"2151742215","repostType":4,"repost":{"id":"2151742215","kind":"highlight","pubTimestamp":1626409222,"share":"https://ttm.financial/m/news/2151742215?lang=en_US&edition=fundamental","pubTime":"2021-07-16 12:20","market":"us","language":"zh","title":"What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks","url":"https://stock-news.laohu8.com/highlight/detail?id=2151742215","media":"华尔街见闻","summary":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含","content":"<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-07-16 12:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3635582\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ab1815ec48bd4c5f20d5928cc3337253","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","DXD":"两倍做空道琼30指数ETF-ProShares","SH":"做空标普500-Proshares","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares",".SPX":"S&P 500 Index","DOG":"道指ETF-ProShares做空","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","SPY":"标普500ETF","DJX":"1/100道琼斯","TQQQ":"纳指三倍做多ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","OEX":"标普100","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF"},"source_url":"https://wallstreetcn.com/articles/3635582","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151742215","content_text":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。\n\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n\n目前，这一隐含相关性已经开始从接近历史低点的水平回升：\n\n与此同时，近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。\n\n对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SPXU":0.9,"MNQmain":0.9,"SH":0.9,"DJX":0.9,"SDOW":0.9,"QID":0.9,"OEF":0.9,"IVV":0.9,"SQQQ":0.9,"SPY":0.9,"ESmain":0.9,"SDS":0.9,"TQQQ":0.9,".DJI":0.9,"DXD":0.9,"OEX":0.9,"SSO":0.9,"UDOW":0.9,".SPX":0.9,"NQmain":0.9,"DOG":0.9,"UPRO":0.9,"QQQ":0.9,"QLD":0.9,"PSQ":0.9,"DDM":0.9}},"isVote":1,"tweetType":1,"viewCount":837,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141869450,"gmtCreate":1625847474570,"gmtModify":1703749883383,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/141869450","repostId":"1155625151","repostType":4,"isVote":1,"tweetType":1,"viewCount":707,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190085530,"gmtCreate":1620553547520,"gmtModify":1704344926089,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/190085530","repostId":"1106882084","repostType":4,"isVote":1,"tweetType":1,"viewCount":475,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142002037,"gmtCreate":1626101902729,"gmtModify":1703753502712,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"comment","listText":"comment","text":"comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/142002037","repostId":"1157757312","repostType":4,"isVote":1,"tweetType":1,"viewCount":936,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174686621,"gmtCreate":1627095192063,"gmtModify":1703484169289,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/174686621","repostId":"1170350340","repostType":4,"repost":{"id":"1170350340","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627092098,"share":"https://ttm.financial/m/news/1170350340?lang=en_US&edition=fundamental","pubTime":"2021-07-24 10:01","market":"sh","language":"zh","title":"Being subject to administrative punishment! Tencent was ordered to lift the exclusive copyright of online music","url":"https://stock-news.laohu8.com/highlight/detail?id=1170350340","media":"老虎资讯综合","summary":"腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。","content":"<p>Tencent responded to being ordered to lift the exclusive copyright of online music: the company will conscientiously abide by the decision, strictly implement regulatory requirements, operate in compliance with laws and regulations, earnestly fulfill social responsibilities, and maintain healthy competition in the market. Tencent will consolidate its responsibilities, formulate corrective measures plans with affiliated companies such as Tencent Music within the prescribed time limit, and complete them to the letter in accordance with the requirements of the penalty decision to ensure that the rectification is in place.</p><p>The State Administration for Market Regulation made an administrative penalty decision in accordance with the law, ordering Tencent and its affiliated companies to cancel exclusive music copyrights within 30 days, stop paying copyright fees such as high prepayments, and not require upstream copyright owners to give them conditions that are superior to competitors without justifiable reasons. and other measures to restore market competition. In January 2021, according to the report, the State Administration for Market Regulation launched an investigation into Tencent Holdings Co., Ltd. (hereinafter referred to as Tencent) 's acquisition of equity in China Music Group in July 2016 for suspected illegal concentration of operators.</p><p>In accordance with the Anti-Monopoly Law, the State Administration for Market Regulation found out the fact that this transaction illegally implemented concentration, and fully evaluated factors such as the share, control, concentration of the operators participating in the concentration in the relevant market, as well as the impact of concentration on market entry and consumers. At the same time, it extensively solicited opinions from relevant government departments, industry associations, experts and scholars, and competitors in the same industry, and listened to Tencent's statements many times.</p><p>The investigation shows that the relevant market in this case is the online music playback platform market in China. Genuine music copyright is the core asset and key resource of the operation of online music playing platform. In 2016, Tencent and China Music Group had about 30% and 40% in the relevant market shares, respectively. Tencent gained a higher market share by merging with its main competitors in the market. After concentration, the entity occupied more than 80% of the exclusive music library resources, which may be able to urge the upstream copyright owners to reach more exclusive copyright agreements with them, or require them to be given better trading conditions than their competitors, or raise market entry barriers by paying high advance payment and other copyright payment modes, which has or may have the effect of excluding and restricting competition in the relevant market.</p><p>According to Article 48 of the Anti-Monopoly Law and Article 57 of the Interim Provisions on the Examination of Concentration of Business Enterprises, and in accordance with the principle of paying equal attention to development and standardization, the State Administration for Market Regulation made an administrative penalty decision in accordance with the law, ordering Tencent and its affiliated companies to take measures to restore market competition, such as canceling exclusive music copyright within 30 days, stopping payment methods of copyright fees such as high advance payments, and not requiring upstream copyright owners to give them conditions superior to competitors without justifiable reasons. Tencent will report the performance of its obligations to the State Administration for Market Regulation every year within three years, and the State Administration for Market Regulation will strictly supervise its implementation in accordance with the law.</p><p>This case is the first case since the implementation of China's Anti-Monopoly Law in which necessary measures have been taken to restore market competition against the illegal concentration of business operators. Measures such as ordering Tencent to lift exclusive copyright will reshape the competition order in relevant markets, lower barriers to market entry, and give competitors a fair opportunity to reach upstream copyright resources, which will help return the focus of competition from using capital advantages to grab copyright resources to innovative service level and improve the rational track of user experience; It is conducive to promoting a reasonable way to calculate copyright fees in line with international standards and reduce downstream operating costs; It is conducive to cultivating new market entrants, creating a fairer competitive environment for existing enterprises, protecting consumers' right to choose, ultimately benefiting consumers, and promoting the standardized, innovative and healthy development of online music industry.</p><p>The following is the full text of the penalty letter:</p><p>State Administration for Market Regulation</p><p>Decision on administrative penalty</p><p>Guo Municipal Supervision Office [2021] No. 67</p><p>Parties: Tencent Holdings Limited</p><p>Residence: Creech Place, Huggins Avenue, Cayman Islands</p><p>In accordance with the \"Anti-Monopoly Law of the People's Republic of China\" (hereinafter referred to as the \"Anti-Monopoly Law\") and the \"Interim Provisions on the Examination of Concentration of Business Enterprises\", on January 25, 2021, this agency investigated the acquisition of China Music Group's equity by Tencent Holdings Co., Ltd. (hereinafter referred to as Tencent) for suspected illegal implementation of concentration of business operators.</p><p>After investigation, the case constitutes an illegal concentration of business operators, which has or may have the effect of excluding or restricting competition. In accordance with the provisions of the Administrative Punishment Law of the People's Republic of China (hereinafter referred to as the Administrative Punishment Law), this organ serves the Notice of Administrative Punishment to Tencent, informing it of the content, facts, reasons and basis of the proposed administrative punishment, and informing it of its legal rights to make statements, defend and request a hearing. Tencent did not make a statement, defense or request a hearing within the prescribed time limit. The investigation and trial of this case have been concluded.</p><p><ul><li>Basic information</li></ul><b>(1) Transaction parties.</b></p><p><b>Acquirer: Tencent.</b>It was incorporated in the British Virgin Islands in November 1999, relocated to the British Cayman Islands in February 2004, listed on the Hong Kong Stock Exchange in June 2004, and controlled Shenzhen Tencent Computer Systems Co., Ltd., the main domestic operating entity, through an agreement. The main businesses include social and communication services, social networking platforms, online music platforms, games, online video services, interactive entertainment live broadcasts, etc. In 2015, the global turnover was 102.863 billion yuan (the same currency below), and the domestic turnover in China was 96.251 billion yuan.</p><p><b>Acquired party: China Music Group.</b>Incorporated in the Cayman Islands in 2012, it controls Ocean Interactive (Beijing) Information Technology Co., Ltd., a major domestic operating entity, through an agreement. The main business includes online music platform, record company publishing business, copyright agency business, etc. Natural persons (omitted) have joint control as parties acting in concert. In 2015, the global and domestic turnover in China were (omitted).</p><p><b>(2) Transaction overview.</b></p><p>On July 12, 2016, Tencent invested in China Music Group with its valued (omitted) business (mainly QQ music business), acquired 61.64% equity of China Music Group, and obtained sole control of China Music Group. In December 2016, the integrated China Music Group was renamed Tencent Music Entertainment Group. On December 6, 2017, the transaction completed the registration procedures for equity change.</p><p>II. Illegal facts and reasons</p><p><b>(1) This case constitutes an illegal concentration of business operators.</b></p><p>Article 20 of the Anti-Monopoly Law stipulates that \"concentration of operators refers to the following situations: (1) merger of operators; (2) Operators obtain control over other operators by acquiring equity or assets; (3) Operators obtain control over other operators through contracts or other means or can exert decisive influence on other operators\". Before this concentration, China Music Group was jointly controlled by natural persons (omitted). After this concentration, Tencent acquired 61.64% equity of China Music Group and obtained sole control over China Music Group, which belongs to the concentration of operators stipulated in Article 20 of the Anti-Monopoly Law.</p><p>Tencent's global turnover in 2015 was 102.863 billion yuan, and its domestic turnover in China was 96.251 billion yuan. China Music Group's global and domestic turnover in 2015 were both (omitted), meeting the reporting standards stipulated in Article 3 of the Regulations of the State Council on the Declaration Standards for Concentration of Business Operators, which is a situation that should be reported.</p><p>Article 21 of the Anti-Monopoly Law stipulates that \"if the concentration of business operators meets the reporting standards prescribed by the State Council, the business operators shall report to the anti-monopoly law enforcement agency of the State Council in advance, and the concentration shall not be implemented if the concentration is not reported\". On December 6, 2017, Tencent completed the registration of equity change. Before that, it failed to report to this authority, which violated the provisions of Article 21 of the Anti-Monopoly Law and constituted an illegal concentration of operators.</p><p>The above facts are proved by evidence such as a copy of Tencent's business license, organizational structure chart, equity relationship chart, Declaration Form for Anti-monopoly Examination of Concentration of Business Operators, Tencent's annual report, Written Explanation of Tencent's Relevant Issues, and Share Subscription Agreement.</p><p><b>(2) This case has or may have the effect of excluding or restricting competition.</b></p><p>According to the provisions of the Anti-Monopoly Law and the Guidelines of the Anti-Monopoly Committee of the State Council on the Definition of Relevant Markets, and taking into account the characteristics of the platform economy, based on economic analysis and questionnaire survey, the relevant market in this case is defined as the domestic online music playback platform market in China where there is horizontal overlap between the two parties to the transaction.<b>Online music playback platform market</b>It refers to a platform that provides consumers with complete copyrighted music recording playback services through online playback or download through programs or websites of computers, mobile phones or other intelligent terminals. Although online karaoke, live webcast, short video platforms, etc. also provide services related to online music, their core functions, application scenarios, business models, market entry, etc. do not have a close substitution relationship with the online music playback platform market, and do not belong to the same related commodity market. As the authorization of music copyright is restricted by the copyright laws of various countries, and there are obvious regional differences, the scope of music copyright dissemination authorized by online music playing platforms in China is generally within China, and it is mainly for users within China, so the relevant geographical market is defined as within China.</p><p>After in-depth research, this concentration has or may have the effect of eliminating and restricting competition in the online music playing platform market in China:</p><p><ol><li><b>After concentration, the entity has a higher market share in the relevant market.</b></li></ol>When the concentration occurred in July 2016, the number of monthly active users of Tencent and China Music Group was 160 million and 230 million respectively, with market shares of 33.96% and 49.07% respectively; The monthly usage time of users is 805 million hours and 698 million hours respectively, and the market shares are 45.77% and 39.65% respectively. Both parties in the concentration rank among the top two in the market, with a total market share of more than 80%. In 2016, the total sales amount of both parties in the relevant market was (omitted), accounting for about 70% of the total revenue of the relevant market. Calculated by the share of music copyright core resources, the number of music libraries of Tencent and China Music Group is 12.1 million and 8.21 million respectively, of which 3.14 million and 1.3 million are exclusive music libraries, and the market share of music libraries and exclusive resources exceeds 80%.</p><p>From the analysis of the Herfindahl-Hirschman Index (HHI Index) of this market, it is 6950 after trading, which is a highly concentrated market, and the increment generated by concentration is 3350. The transaction has further increased the concentration of the relevant market and further weakened competition.</p><p><ol><li><b>Focus on reducing major competitors in relevant markets.</b></li></ol>According to the survey, before the transaction, the concentrated parties ranked the top two in the market, with equal competitive strength and close competition with each other. According to consumers' choice of flow between alternative platforms, 73.6% of users of QQ Music owned by Tencent have flowed to Kugou Music and Kuwo Music owned by China Music Group, indicating that if QQ Music raises prices or lowers service levels, 73.6% of users may flow to the platforms owned by China Music Group, and the two sides are relatively close competitors with each other. Focus on reducing major competitors in relevant markets and further weakening market competition.</p><p><ol><li><b>Concentration may further increase barriers to entry in relevant markets.</b></li></ol><b>First, it is possible to raise barriers to copyright resources.</b>When the entity locks in more exclusive copyright resources after concentration, new entrants have to rely on their sub-licensing, which makes it difficult to enter the relevant market. The market size brought about by concentration also enables it to pay copyright fees to upstream copyright owners by paying high non-refundable prepayments in advance, which may further increase market entry barriers.</p><p><b>Second, it may increase user conversion costs.</b>Focus on bringing Tencent more abundant music library resources, a larger user scale and sufficient usage data. Compared with new platforms, it can recommend songs that meet consumers' preferences better, resulting in a reduction in users' willingness to switch platforms, thereby further expanding the user scale, which may prevent other competitors from reaching or maintaining critical scale.</p><p><b>Third, after concentration, the market entry activity is not high.</b>The data shows that the main entry of the online music playback platform market occurred from the beginning of 2016 to July 2017. After the centralized completion at the end of 2017, the market entry activity dropped significantly.</p><p>To sum up, Tencent has a high market share in the online music playing platform market in China through this item, which may enable it to urge the upstream copyright owner to grant it exclusive copyright authorization, or provide it with conditions superior to competitors, or may enable Tencent to raise market entry barriers by paying high advance payments, etc., which has or may have the effect of excluding and restricting competition in relevant markets.</p><p>At the same time, the survey found that China's online music playback platform market has developed rapidly, and the market share of Tencent's main competitors (omitted) has also shown a rapid growth, from less than 6% at the time of concentration to nearly 18%, an increase of about 200%, indicating that competitors have a tendency to strengthen their competitive constraints. In addition, there has been a certain trend of dynamic competition and cross-border integration between online music playback platforms and other platforms in recent years. Some short video platforms with a wide user base may become competitors in related markets in the future if they obtain a sufficient number of music copyright resources.</p><p>The above facts are proved by statistical data and industry analysis reports of third-party organizations, Questionnaire Survey Report, Economic Analysis Report, Authorization Agreement and Sub-Authorization Agreement provided by Tencent and related parties, and replies from relevant parties such as industry authorities.</p><p>III. Basis and decision of administrative punishment</p><p>Article 48 of the Anti-Monopoly Law stipulates that \"if an operator violates the provisions of this Law to implement concentration, the anti-monopoly law enforcement agency of the State Council shall order it to stop the concentration, dispose of shares or assets within a time limit, transfer business within a time limit, and take other necessary measures to restore it to the pre-concentration state, and may be fined not more than 500,000 yuan.\" Article 49 of the Anti-Monopoly Law stipulates that \"for the fines stipulated in Articles 46, 47 and 48 of this Law, the anti-monopoly law enforcement agency shall consider the nature, degree and duration of the illegal act when determining the specific amount of the fine\".</p><p>According to the above provisions, based on the above investigation and evaluation conclusion, this authority has made the following decisions on Tencent:</p><p><b>(1) Order Tencent and its affiliated companies to take the following measures to restore competition in relevant markets:</b></p><p>1. An exclusive copyright agreement (the copyright scope includes the information network dissemination right of all music works and sound recordings) or other exclusive agreements shall not be reached or reached in disguised form with the upstream copyright owner. If it has been reached, it shall be terminated within 30 days from the date of promulgation of this decision, except for the exclusive cooperation with independent musicians (natural persons who have authorized the copyright with the music platform in their own name and have never signed an agreement with any record company or brokerage company) or new songs. The exclusive cooperation period with independent musicians shall not exceed three years, and the exclusive cooperation period with new songs shall not exceed thirty days.</p><p>2. Without justifiable reasons, the upstream copyright owner shall not be required or disguised to give the parties conditions that are superior to other competitors, including but not limited to the scope of authorization, the amount of authorization, the period of authorization, etc., or any agreement or agreement terms related to it. If it has been reached, it shall be cancelled within 30 days from the date of promulgation of this decision.</p><p>3. Quote the upstream copyright owner based on factors such as the actual use of the copyright, user payment, unit price of the song, application scenarios, contract period, etc., and do not increase the cost of competitors in disguised form through high prepayments, etc., and exclude or restrict competition.</p><p><b>(2) A fine of 500,000 yuan shall be imposed.</b></p><p><b>(3) Declaring concentration of business operators in accordance with the law.</b></p><p>1. If the concentration of business operators meets the reporting standards stipulated by the State Council, it shall be reported to the State Administration for Market Regulation in advance, and the concentration shall not be implemented if the concentration is not reported.</p><p>2. If the concentration of business operators does not meet the reporting standards, but the concentration of business operators has or may have the effect of excluding or restricting competition, it shall be reported to the State Administration for Market Regulation in advance, and the concentration shall not be implemented if the concentration is not reported.</p><p>3. If the transaction does not constitute a concentration of operators, except for matters stipulated by law to protect the rights and interests of minority shareholders, it shall not participate in the business decision-making of relevant enterprises, and report the basic situation of the transaction to the State Administration for Market Regulation in the annual report.</p><p><b>(4) Operate in compliance with laws and regulations, and establish and improve a long-term mechanism for fair participation in market competition.</b></p><p>1. Comprehensively standardize its own competitive behavior, conduct comprehensive and in-depth self-examination according to the Anti-Monopoly Law, and examine and standardize its own business behavior.</p><p>2. Strictly implement the main responsibilities of platform enterprises, constantly improve the internal governance rules of the platform, and cooperate with other operators in accordance with the principles of fairness, reasonableness, and non-discrimination.</p><p>3. Improve the internal compliance control system of enterprises, establish and effectively implement the anti-monopoly compliance system, and consciously safeguard fair competition.</p><p>4. Protect the legitimate rights and interests of consumers. Fully protect consumers' rights, reasonably set charging prices, and protect consumers' privacy.</p><p>5. Actively maintain fair competition and promote industry innovation and development.</p><p>The period of the above measures starts from the date of issuance of the \"Administrative Punishment Decision\". Tencent and its affiliated companies must formulate a rectification plan based on the above measures within ten days and submit it to the State Administration for Market Regulation for review. The State Administration for Market Regulation has the right to inspect the performance of the above obligations by Tencent and its affiliated companies through supervising the trustee or self-supervision within three years. Tencent will report the performance of its obligations to the State Administration for Market Regulation every year within three years, and will not report after the expiration of three years.</p><p>Article 67 of the Administrative Punishment Law stipulates that \"the administrative organ that makes the fine decision shall be separated from the institution that collects the fine. Except for the fine collected on the spot in accordance with the provisions of Articles 68 and 69 of this Law, the administrative organ that makes the administrative punishment decision and its law enforcement officers shall not collect the fine by themselves. The party concerned shall pay the fine at the designated bank or through the electronic payment system within 15 days from the date of receiving the administrative punishment decision. The bank shall accept the fine and turn it over directly to the state treasury. \"</p><p>Within fifteen days from the date of receipt of this administrative penalty decision, the party concerned shall, in accordance with this administrative penalty decision, bring the payment code to any of the 12 central fiscal non-tax revenue collection agent banks (Industry, Agriculture, China, Construction, Communications, CITIC, Everbright, China Merchants, Postal Savings, Huaxia, Ping An, Industrial) or online banking to pay the fine. Payment code: * * *.</p><p>If the party concerned is dissatisfied with the above-mentioned administrative penalty decision, it may apply to the State Administration for Market Regulation for administrative reconsideration within 60 days from the date of receipt of this administrative penalty decision; Or within six months from the date of receipt of this administrative penalty decision, file an administrative lawsuit with the Beijing Intellectual Property Court according to law. During the period of administrative reconsideration or administrative litigation, the execution of this administrative punishment decision shall not be suspended.</p><p>State Administration for Market Regulation</p><p>July 24, 2021<img src=\"https://static.tigerbbs.com/670343de69414ca1b966fc90740b6559\" tg-width=\"1020\" tg-height=\"642\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Being subject to administrative punishment! Tencent was ordered to lift the exclusive copyright of online music</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBeing subject to administrative punishment! Tencent was ordered to lift the exclusive copyright of online music\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-24 10:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tencent responded to being ordered to lift the exclusive copyright of online music: the company will conscientiously abide by the decision, strictly implement regulatory requirements, operate in compliance with laws and regulations, earnestly fulfill social responsibilities, and maintain healthy competition in the market. Tencent will consolidate its responsibilities, formulate corrective measures plans with affiliated companies such as Tencent Music within the prescribed time limit, and complete them to the letter in accordance with the requirements of the penalty decision to ensure that the rectification is in place.</p><p>The State Administration for Market Regulation made an administrative penalty decision in accordance with the law, ordering Tencent and its affiliated companies to cancel exclusive music copyrights within 30 days, stop paying copyright fees such as high prepayments, and not require upstream copyright owners to give them conditions that are superior to competitors without justifiable reasons. and other measures to restore market competition. In January 2021, according to the report, the State Administration for Market Regulation launched an investigation into Tencent Holdings Co., Ltd. (hereinafter referred to as Tencent) 's acquisition of equity in China Music Group in July 2016 for suspected illegal concentration of operators.</p><p>In accordance with the Anti-Monopoly Law, the State Administration for Market Regulation found out the fact that this transaction illegally implemented concentration, and fully evaluated factors such as the share, control, concentration of the operators participating in the concentration in the relevant market, as well as the impact of concentration on market entry and consumers. At the same time, it extensively solicited opinions from relevant government departments, industry associations, experts and scholars, and competitors in the same industry, and listened to Tencent's statements many times.</p><p>The investigation shows that the relevant market in this case is the online music playback platform market in China. Genuine music copyright is the core asset and key resource of the operation of online music playing platform. In 2016, Tencent and China Music Group had about 30% and 40% in the relevant market shares, respectively. Tencent gained a higher market share by merging with its main competitors in the market. After concentration, the entity occupied more than 80% of the exclusive music library resources, which may be able to urge the upstream copyright owners to reach more exclusive copyright agreements with them, or require them to be given better trading conditions than their competitors, or raise market entry barriers by paying high advance payment and other copyright payment modes, which has or may have the effect of excluding and restricting competition in the relevant market.</p><p>According to Article 48 of the Anti-Monopoly Law and Article 57 of the Interim Provisions on the Examination of Concentration of Business Enterprises, and in accordance with the principle of paying equal attention to development and standardization, the State Administration for Market Regulation made an administrative penalty decision in accordance with the law, ordering Tencent and its affiliated companies to take measures to restore market competition, such as canceling exclusive music copyright within 30 days, stopping payment methods of copyright fees such as high advance payments, and not requiring upstream copyright owners to give them conditions superior to competitors without justifiable reasons. Tencent will report the performance of its obligations to the State Administration for Market Regulation every year within three years, and the State Administration for Market Regulation will strictly supervise its implementation in accordance with the law.</p><p>This case is the first case since the implementation of China's Anti-Monopoly Law in which necessary measures have been taken to restore market competition against the illegal concentration of business operators. Measures such as ordering Tencent to lift exclusive copyright will reshape the competition order in relevant markets, lower barriers to market entry, and give competitors a fair opportunity to reach upstream copyright resources, which will help return the focus of competition from using capital advantages to grab copyright resources to innovative service level and improve the rational track of user experience; It is conducive to promoting a reasonable way to calculate copyright fees in line with international standards and reduce downstream operating costs; It is conducive to cultivating new market entrants, creating a fairer competitive environment for existing enterprises, protecting consumers' right to choose, ultimately benefiting consumers, and promoting the standardized, innovative and healthy development of online music industry.</p><p>The following is the full text of the penalty letter:</p><p>State Administration for Market Regulation</p><p>Decision on administrative penalty</p><p>Guo Municipal Supervision Office [2021] No. 67</p><p>Parties: Tencent Holdings Limited</p><p>Residence: Creech Place, Huggins Avenue, Cayman Islands</p><p>In accordance with the \"Anti-Monopoly Law of the People's Republic of China\" (hereinafter referred to as the \"Anti-Monopoly Law\") and the \"Interim Provisions on the Examination of Concentration of Business Enterprises\", on January 25, 2021, this agency investigated the acquisition of China Music Group's equity by Tencent Holdings Co., Ltd. (hereinafter referred to as Tencent) for suspected illegal implementation of concentration of business operators.</p><p>After investigation, the case constitutes an illegal concentration of business operators, which has or may have the effect of excluding or restricting competition. In accordance with the provisions of the Administrative Punishment Law of the People's Republic of China (hereinafter referred to as the Administrative Punishment Law), this organ serves the Notice of Administrative Punishment to Tencent, informing it of the content, facts, reasons and basis of the proposed administrative punishment, and informing it of its legal rights to make statements, defend and request a hearing. Tencent did not make a statement, defense or request a hearing within the prescribed time limit. The investigation and trial of this case have been concluded.</p><p><ul><li>Basic information</li></ul><b>(1) Transaction parties.</b></p><p><b>Acquirer: Tencent.</b>It was incorporated in the British Virgin Islands in November 1999, relocated to the British Cayman Islands in February 2004, listed on the Hong Kong Stock Exchange in June 2004, and controlled Shenzhen Tencent Computer Systems Co., Ltd., the main domestic operating entity, through an agreement. The main businesses include social and communication services, social networking platforms, online music platforms, games, online video services, interactive entertainment live broadcasts, etc. In 2015, the global turnover was 102.863 billion yuan (the same currency below), and the domestic turnover in China was 96.251 billion yuan.</p><p><b>Acquired party: China Music Group.</b>Incorporated in the Cayman Islands in 2012, it controls Ocean Interactive (Beijing) Information Technology Co., Ltd., a major domestic operating entity, through an agreement. The main business includes online music platform, record company publishing business, copyright agency business, etc. Natural persons (omitted) have joint control as parties acting in concert. In 2015, the global and domestic turnover in China were (omitted).</p><p><b>(2) Transaction overview.</b></p><p>On July 12, 2016, Tencent invested in China Music Group with its valued (omitted) business (mainly QQ music business), acquired 61.64% equity of China Music Group, and obtained sole control of China Music Group. In December 2016, the integrated China Music Group was renamed Tencent Music Entertainment Group. On December 6, 2017, the transaction completed the registration procedures for equity change.</p><p>II. Illegal facts and reasons</p><p><b>(1) This case constitutes an illegal concentration of business operators.</b></p><p>Article 20 of the Anti-Monopoly Law stipulates that \"concentration of operators refers to the following situations: (1) merger of operators; (2) Operators obtain control over other operators by acquiring equity or assets; (3) Operators obtain control over other operators through contracts or other means or can exert decisive influence on other operators\". Before this concentration, China Music Group was jointly controlled by natural persons (omitted). After this concentration, Tencent acquired 61.64% equity of China Music Group and obtained sole control over China Music Group, which belongs to the concentration of operators stipulated in Article 20 of the Anti-Monopoly Law.</p><p>Tencent's global turnover in 2015 was 102.863 billion yuan, and its domestic turnover in China was 96.251 billion yuan. China Music Group's global and domestic turnover in 2015 were both (omitted), meeting the reporting standards stipulated in Article 3 of the Regulations of the State Council on the Declaration Standards for Concentration of Business Operators, which is a situation that should be reported.</p><p>Article 21 of the Anti-Monopoly Law stipulates that \"if the concentration of business operators meets the reporting standards prescribed by the State Council, the business operators shall report to the anti-monopoly law enforcement agency of the State Council in advance, and the concentration shall not be implemented if the concentration is not reported\". On December 6, 2017, Tencent completed the registration of equity change. Before that, it failed to report to this authority, which violated the provisions of Article 21 of the Anti-Monopoly Law and constituted an illegal concentration of operators.</p><p>The above facts are proved by evidence such as a copy of Tencent's business license, organizational structure chart, equity relationship chart, Declaration Form for Anti-monopoly Examination of Concentration of Business Operators, Tencent's annual report, Written Explanation of Tencent's Relevant Issues, and Share Subscription Agreement.</p><p><b>(2) This case has or may have the effect of excluding or restricting competition.</b></p><p>According to the provisions of the Anti-Monopoly Law and the Guidelines of the Anti-Monopoly Committee of the State Council on the Definition of Relevant Markets, and taking into account the characteristics of the platform economy, based on economic analysis and questionnaire survey, the relevant market in this case is defined as the domestic online music playback platform market in China where there is horizontal overlap between the two parties to the transaction.<b>Online music playback platform market</b>It refers to a platform that provides consumers with complete copyrighted music recording playback services through online playback or download through programs or websites of computers, mobile phones or other intelligent terminals. Although online karaoke, live webcast, short video platforms, etc. also provide services related to online music, their core functions, application scenarios, business models, market entry, etc. do not have a close substitution relationship with the online music playback platform market, and do not belong to the same related commodity market. As the authorization of music copyright is restricted by the copyright laws of various countries, and there are obvious regional differences, the scope of music copyright dissemination authorized by online music playing platforms in China is generally within China, and it is mainly for users within China, so the relevant geographical market is defined as within China.</p><p>After in-depth research, this concentration has or may have the effect of eliminating and restricting competition in the online music playing platform market in China:</p><p><ol><li><b>After concentration, the entity has a higher market share in the relevant market.</b></li></ol>When the concentration occurred in July 2016, the number of monthly active users of Tencent and China Music Group was 160 million and 230 million respectively, with market shares of 33.96% and 49.07% respectively; The monthly usage time of users is 805 million hours and 698 million hours respectively, and the market shares are 45.77% and 39.65% respectively. Both parties in the concentration rank among the top two in the market, with a total market share of more than 80%. In 2016, the total sales amount of both parties in the relevant market was (omitted), accounting for about 70% of the total revenue of the relevant market. Calculated by the share of music copyright core resources, the number of music libraries of Tencent and China Music Group is 12.1 million and 8.21 million respectively, of which 3.14 million and 1.3 million are exclusive music libraries, and the market share of music libraries and exclusive resources exceeds 80%.</p><p>From the analysis of the Herfindahl-Hirschman Index (HHI Index) of this market, it is 6950 after trading, which is a highly concentrated market, and the increment generated by concentration is 3350. The transaction has further increased the concentration of the relevant market and further weakened competition.</p><p><ol><li><b>Focus on reducing major competitors in relevant markets.</b></li></ol>According to the survey, before the transaction, the concentrated parties ranked the top two in the market, with equal competitive strength and close competition with each other. According to consumers' choice of flow between alternative platforms, 73.6% of users of QQ Music owned by Tencent have flowed to Kugou Music and Kuwo Music owned by China Music Group, indicating that if QQ Music raises prices or lowers service levels, 73.6% of users may flow to the platforms owned by China Music Group, and the two sides are relatively close competitors with each other. Focus on reducing major competitors in relevant markets and further weakening market competition.</p><p><ol><li><b>Concentration may further increase barriers to entry in relevant markets.</b></li></ol><b>First, it is possible to raise barriers to copyright resources.</b>When the entity locks in more exclusive copyright resources after concentration, new entrants have to rely on their sub-licensing, which makes it difficult to enter the relevant market. The market size brought about by concentration also enables it to pay copyright fees to upstream copyright owners by paying high non-refundable prepayments in advance, which may further increase market entry barriers.</p><p><b>Second, it may increase user conversion costs.</b>Focus on bringing Tencent more abundant music library resources, a larger user scale and sufficient usage data. Compared with new platforms, it can recommend songs that meet consumers' preferences better, resulting in a reduction in users' willingness to switch platforms, thereby further expanding the user scale, which may prevent other competitors from reaching or maintaining critical scale.</p><p><b>Third, after concentration, the market entry activity is not high.</b>The data shows that the main entry of the online music playback platform market occurred from the beginning of 2016 to July 2017. After the centralized completion at the end of 2017, the market entry activity dropped significantly.</p><p>To sum up, Tencent has a high market share in the online music playing platform market in China through this item, which may enable it to urge the upstream copyright owner to grant it exclusive copyright authorization, or provide it with conditions superior to competitors, or may enable Tencent to raise market entry barriers by paying high advance payments, etc., which has or may have the effect of excluding and restricting competition in relevant markets.</p><p>At the same time, the survey found that China's online music playback platform market has developed rapidly, and the market share of Tencent's main competitors (omitted) has also shown a rapid growth, from less than 6% at the time of concentration to nearly 18%, an increase of about 200%, indicating that competitors have a tendency to strengthen their competitive constraints. In addition, there has been a certain trend of dynamic competition and cross-border integration between online music playback platforms and other platforms in recent years. Some short video platforms with a wide user base may become competitors in related markets in the future if they obtain a sufficient number of music copyright resources.</p><p>The above facts are proved by statistical data and industry analysis reports of third-party organizations, Questionnaire Survey Report, Economic Analysis Report, Authorization Agreement and Sub-Authorization Agreement provided by Tencent and related parties, and replies from relevant parties such as industry authorities.</p><p>III. Basis and decision of administrative punishment</p><p>Article 48 of the Anti-Monopoly Law stipulates that \"if an operator violates the provisions of this Law to implement concentration, the anti-monopoly law enforcement agency of the State Council shall order it to stop the concentration, dispose of shares or assets within a time limit, transfer business within a time limit, and take other necessary measures to restore it to the pre-concentration state, and may be fined not more than 500,000 yuan.\" Article 49 of the Anti-Monopoly Law stipulates that \"for the fines stipulated in Articles 46, 47 and 48 of this Law, the anti-monopoly law enforcement agency shall consider the nature, degree and duration of the illegal act when determining the specific amount of the fine\".</p><p>According to the above provisions, based on the above investigation and evaluation conclusion, this authority has made the following decisions on Tencent:</p><p><b>(1) Order Tencent and its affiliated companies to take the following measures to restore competition in relevant markets:</b></p><p>1. An exclusive copyright agreement (the copyright scope includes the information network dissemination right of all music works and sound recordings) or other exclusive agreements shall not be reached or reached in disguised form with the upstream copyright owner. If it has been reached, it shall be terminated within 30 days from the date of promulgation of this decision, except for the exclusive cooperation with independent musicians (natural persons who have authorized the copyright with the music platform in their own name and have never signed an agreement with any record company or brokerage company) or new songs. The exclusive cooperation period with independent musicians shall not exceed three years, and the exclusive cooperation period with new songs shall not exceed thirty days.</p><p>2. Without justifiable reasons, the upstream copyright owner shall not be required or disguised to give the parties conditions that are superior to other competitors, including but not limited to the scope of authorization, the amount of authorization, the period of authorization, etc., or any agreement or agreement terms related to it. If it has been reached, it shall be cancelled within 30 days from the date of promulgation of this decision.</p><p>3. Quote the upstream copyright owner based on factors such as the actual use of the copyright, user payment, unit price of the song, application scenarios, contract period, etc., and do not increase the cost of competitors in disguised form through high prepayments, etc., and exclude or restrict competition.</p><p><b>(2) A fine of 500,000 yuan shall be imposed.</b></p><p><b>(3) Declaring concentration of business operators in accordance with the law.</b></p><p>1. If the concentration of business operators meets the reporting standards stipulated by the State Council, it shall be reported to the State Administration for Market Regulation in advance, and the concentration shall not be implemented if the concentration is not reported.</p><p>2. If the concentration of business operators does not meet the reporting standards, but the concentration of business operators has or may have the effect of excluding or restricting competition, it shall be reported to the State Administration for Market Regulation in advance, and the concentration shall not be implemented if the concentration is not reported.</p><p>3. If the transaction does not constitute a concentration of operators, except for matters stipulated by law to protect the rights and interests of minority shareholders, it shall not participate in the business decision-making of relevant enterprises, and report the basic situation of the transaction to the State Administration for Market Regulation in the annual report.</p><p><b>(4) Operate in compliance with laws and regulations, and establish and improve a long-term mechanism for fair participation in market competition.</b></p><p>1. Comprehensively standardize its own competitive behavior, conduct comprehensive and in-depth self-examination according to the Anti-Monopoly Law, and examine and standardize its own business behavior.</p><p>2. Strictly implement the main responsibilities of platform enterprises, constantly improve the internal governance rules of the platform, and cooperate with other operators in accordance with the principles of fairness, reasonableness, and non-discrimination.</p><p>3. Improve the internal compliance control system of enterprises, establish and effectively implement the anti-monopoly compliance system, and consciously safeguard fair competition.</p><p>4. Protect the legitimate rights and interests of consumers. Fully protect consumers' rights, reasonably set charging prices, and protect consumers' privacy.</p><p>5. Actively maintain fair competition and promote industry innovation and development.</p><p>The period of the above measures starts from the date of issuance of the \"Administrative Punishment Decision\". Tencent and its affiliated companies must formulate a rectification plan based on the above measures within ten days and submit it to the State Administration for Market Regulation for review. The State Administration for Market Regulation has the right to inspect the performance of the above obligations by Tencent and its affiliated companies through supervising the trustee or self-supervision within three years. Tencent will report the performance of its obligations to the State Administration for Market Regulation every year within three years, and will not report after the expiration of three years.</p><p>Article 67 of the Administrative Punishment Law stipulates that \"the administrative organ that makes the fine decision shall be separated from the institution that collects the fine. Except for the fine collected on the spot in accordance with the provisions of Articles 68 and 69 of this Law, the administrative organ that makes the administrative punishment decision and its law enforcement officers shall not collect the fine by themselves. The party concerned shall pay the fine at the designated bank or through the electronic payment system within 15 days from the date of receiving the administrative punishment decision. The bank shall accept the fine and turn it over directly to the state treasury. \"</p><p>Within fifteen days from the date of receipt of this administrative penalty decision, the party concerned shall, in accordance with this administrative penalty decision, bring the payment code to any of the 12 central fiscal non-tax revenue collection agent banks (Industry, Agriculture, China, Construction, Communications, CITIC, Everbright, China Merchants, Postal Savings, Huaxia, Ping An, Industrial) or online banking to pay the fine. Payment code: * * *.</p><p>If the party concerned is dissatisfied with the above-mentioned administrative penalty decision, it may apply to the State Administration for Market Regulation for administrative reconsideration within 60 days from the date of receipt of this administrative penalty decision; Or within six months from the date of receipt of this administrative penalty decision, file an administrative lawsuit with the Beijing Intellectual Property Court according to law. During the period of administrative reconsideration or administrative litigation, the execution of this administrative punishment decision shall not be suspended.</p><p>State Administration for Market Regulation</p><p>July 24, 2021<img src=\"https://static.tigerbbs.com/670343de69414ca1b966fc90740b6559\" tg-width=\"1020\" tg-height=\"642\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7799eeb7043b8caaf3d109c3b13109e","relate_stocks":{"TCEHY":"腾讯控股ADR","QNETCN":"纳斯达克中美互联网老虎指数","00700":"腾讯控股"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170350340","content_text":"腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。腾讯将压实责任，与腾讯音乐等关联公司在规定时限内制定整改措施方案，按照处罚决定要求全面不折不扣地完成，确保整改到位。\n\n 市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。\n\n2021年1月，市场监管总局根据举报，对腾讯控股有限公司（以下简称腾讯）2016年7月收购中国音乐集团股权涉嫌违法实施经营者集中行为立案调查。\n市场监管总局依据《反垄断法》，查清本交易违法实施集中的事实，充分评估参与集中的经营者在相关市场的份额、控制力、集中度以及集中对市场进入和消费者影响等因素。同时，广泛征求有关政府部门、行业协会、专家学者、同业竞争者意见，并多次听取腾讯陈述意见。\n调查表明，本案相关市场为中国境内网络音乐播放平台市场。正版音乐版权是网络音乐播放平台运营的核心资产和关键性资源。2016年腾讯和中国音乐集团在相关市场份额分别为30%和40%左右，腾讯通过与市场主要竞争对手合并，获得较高的市场份额，集中后实体占有的独家曲库资源超过80%，可能有能力促使上游版权方与其达成更多独家版权协议，或要求给予其优于竞争对手的交易条件，也可能有能力通过支付高额预付金等版权付费模式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争效果。\n根据《反垄断法》第四十八条、《经营者集中审查暂行规定》第五十七条规定，按照发展和规范并重的原则，市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。腾讯三年内每年向市场监管总局报告履行义务情况，市场监管总局将依法严格监督其执行情况。\n本案为我国《反垄断法》实施以来对违法实施经营者集中采取必要措施恢复市场竞争状态的第一起案件。责令腾讯解除独家版权等措施将重塑相关市场竞争秩序，降低市场进入壁垒，使竞争者均有公平触达上游版权资源的机会，有利于将竞争的焦点从利用资本优势抢夺版权资源回归到创新服务水平、提高用户体验的理性轨道上来；有利于推动与国际接轨的合理方式计算版权费用，减轻下游运营成本；有利于培育新的市场进入者，并为现存企业创造更公平的竞争环境，保障消费者选择权，最终惠及广大消费者，促进网络音乐产业规范创新健康发展。\n以下为处罚书全文:\n国家市场监督管理总局\n行政处罚决定书\n国市监处〔2021〕67号\n当事人：腾讯控股有限公司\n住 所：开曼群岛哈金斯大道克里奇广场\n根据《中华人民共和国反垄断法》（以下简称《反垄断法》）、《经营者集中审查暂行规定》，本机关于2021年1月25日对腾讯控股有限公司（以下简称腾讯）收购中国音乐集团股权涉嫌违法实施经营者集中进行立案调查。\n经查，该案构成违法实施的经营者集中，具有或者可能具有排除、限制竞争的效果。本机关按照《中华人民共和国行政处罚法》（以下简称《行政处罚法》）规定，向腾讯送达《行政处罚告知书》，告知其拟作出的行政处罚内容及事实、理由、依据，并告知其依法享有的陈述、申辩和要求听证等权利。腾讯在规定期限内没有提出陈述、申辩或要求听证。本案现已调查、审理终结。\n\n基本情况\n\n（一）交易方。\n收购方：腾讯。1999年11月于英属维尔京群岛注册成立，2004年2月迁册至英属开曼群岛，2004年6月在香港联交所上市，通过协议控制境内主要运营实体深圳市腾讯计算机系统有限公司。主要业务包括社交和通信服务、社交网络平台、网络音乐平台、游戏、网络视频服务、互动娱乐直播等。2015年全球营业额为1028.63亿元人民币（币种下同），中国境内营业额为962.51亿元。\n被收购方：中国音乐集团。2012年于开曼群岛注册成立，通过协议控制境内主要运营实体海洋互动（北京）信息技术有限公司。主要业务包括网络音乐平台、唱片公司出版业务、版权代理业务等。自然人（略）作为一致行动人拥有共同控制权。2015年全球及中国境内营业额均为（略）。\n（二）交易概况。\n2016年7月12日，腾讯以估值（略）的业务（主要是QQ音乐业务）投入中国音乐集团，获得中国音乐集团61.64%股权，取得对中国音乐集团的单独控制权。2016年12月，整合后的中国音乐集团更名为腾讯音乐娱乐集团。2017年12月6日，交易完成股权变更登记手续。\n二、违法事实及理由\n（一）本案构成违法实施的经营者集中。\n《反垄断法》第二十条规定“经营者集中是指下列情形：（一）经营者合并；（二）经营者通过取得股权或者资产的方式取得对其他经营者的控制权；（三）经营者通过合同等方式取得对其他经营者的控制权或者能够对其他经营者施加决定性影响”。本项集中前，中国音乐集团由自然人（略）共同控制。本项集中后，腾讯获得中国音乐集团61.64%股权，取得对中国音乐集团单独控制权，属于《反垄断法》第二十条规定的经营者集中。\n腾讯2015年全球营业额为1028.63亿元，中国境内营业额为962.51亿元，中国音乐集团2015年全球及中国境内营业额均为（略），达到《国务院关于经营者集中申报标准的规定》第三条规定的申报标准，属于应当申报的情形。\n《反垄断法》第二十一条规定“经营者集中达到国务院规定的申报标准的，经营者应当事先向国务院反垄断执法机构申报，未申报的不得实施集中”。2017年12月6日，腾讯完成股权变更登记，在此之前未向本机关申报，违反《反垄断法》第二十一条规定，构成违法实施的经营者集中。\n以上事实，有腾讯营业执照复印件、组织架构图、股权关系图、《经营者集中反垄断审查申报表》、腾讯年报、《腾讯相关问题的书面说明》、《股份认购协议》等证据证明。\n（二）本案具有或者可能具有排除、限制竞争的效果。\n根据《反垄断法》和《国务院反垄断委员会关于相关市场界定的指南》规定，同时考虑平台经济特点，在经济学分析和问卷调查基础上，本案相关市场界定为交易双方存在横向重叠的中国境内网络音乐播放平台市场。网络音乐播放平台市场是指通过电脑端、手机端或者其他智能终端的程序或网站，以在线播放或下载方式向消费者提供完整版权音乐录音制品播放服务的平台。网络K歌、网络直播、短视频平台等虽也提供与网络音乐相关的服务，但其核心功能、应用场景、商业模式、市场进入等与网络音乐播放平台市场不具有紧密替代关系，不属于同一相关商品市场。由于音乐版权的授权受各国著作权法规定限制，具有明显的地域差异，中国的网络音乐播放平台获得授权的音乐版权传播范围一般为中国境内，且主要面向中国境内用户，因此相关地域市场界定为中国境内。\n经深入研究，本项集中对中国境内网络音乐播放平台市场具有或者可能具有排除、限制竞争效果：\n\n集中后实体在相关市场具有较高市场份额。\n\n2016年7月集中发生时，腾讯和中国音乐集团的月活跃用户数分别为1.6亿人、2.3亿人，市场份额分别为33.96%、49.07%；用户月使用时长分别为8.05亿小时、6.98亿小时，市场份额分别为45.77%、39.65%，集中双方均列市场前两位，合计市场份额超过80%。2016年集中双方在相关市场的销售金额合计（略），约占相关市场总收入规模的70%。以音乐版权核心资源占有率计算，腾讯和中国音乐集团的曲库数量分别为1210万、821万，其中独家曲库为314万、130万，曲库和独家资源的市场占有率均超过80%。\n从该市场赫芬达尔－赫希曼指数（HHI指数）分析，交易后为6950，为高度集中市场，集中产生的增量为3350。交易导致相关市场集中度进一步提高，竞争被进一步削弱。\n\n集中减少相关市场主要竞争对手。\n\n调查显示，交易前集中双方居市场前两位，竞争实力相当，彼此竞争较为紧密。根据消费者在替代性平台之间的流向选择显示，腾讯旗下QQ音乐73.6%的用户流向了中国音乐集团旗下的酷狗音乐和酷我音乐，表明如果QQ音乐提高价格或降低服务水平，可能有73.6%的用户流向中国音乐集团旗下平台，双方互为较为紧密竞争者。集中减少相关市场主要竞争对手，进一步削弱市场竞争。\n\n集中可能进一步提高相关市场进入壁垒。\n\n一是可能提高版权资源壁垒。在集中后实体锁定较多独家版权资源的情况下，新进入者须依靠其转授权，进入相关市场较为困难。由集中带来的市场规模也使其有能力通过提前支付不可返还的高额预付金等方式向上游版权方支付版权费用，可能进一步提高市场进入壁垒。\n二是可能增加用户转换成本。集中为腾讯带来较为丰富的曲库资源、较大的用户规模及充足的使用数据，相比新进入平台更能推荐符合消费者偏好的歌曲，导致用户转换平台意愿降低，从而进一步扩大用户规模，可能阻止其他竞争者达到或维持临界规模。\n三是集中后市场进入活跃度不高。数据显示，网络音乐播放平台市场的主要进入发生在2016年初至2017年7月，2017年底集中完成后，该市场进入活跃度下降较明显。\n综上，腾讯通过本项集中在中国境内网络音乐播放平台市场具有较高市场份额，可能使其有能力促使上游版权方对其进行独家版权授权，或者向其提供优于竞争对手的条件，也可能使腾讯有能力通过支付高额预付金等方式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争的效果。\n调查同时发现，中国网络音乐播放平台市场发展较为迅速，腾讯主要竞争对手（略）的市场份额也呈现较快速度增长，由集中发生时的不足6%增长至近18%，增长200%左右，说明竞争对手对其竞争约束有增强的趋势。此外，网络音乐播放平台与其他平台之间近年来呈现出一定的动态竞争和跨界融合趋势，一些拥有广泛用户基础的短视频平台，如果再获得足够数量的音乐版权资源，在未来有可能成为相关市场的竞争者。\n以上事实，有第三方机构统计数据和行业分析报告、《问卷调查报告》、《经济学分析报告》、腾讯和相关方提供的《授权协议》和《转授权协议》、行业主管部门等相关方的回复意见等证据证明。\n三、行政处罚依据和决定\n《反垄断法》第四十八条规定“经营者违反本法规定实施集中的，由国务院反垄断执法机构责令停止实施集中、限期处分股份或者资产、限期转让营业以及采取其他必要措施恢复到集中前的状态，可以处五十万元以下的罚款”。《反垄断法》第四十九条规定“对本法第四十六条、第四十七条、第四十八条规定的罚款，反垄断执法机构确定具体罚款数额时，应当考虑违法行为的性质、程度和持续的时间等因素”。\n根据上述规定，基于上述调查情况和评估结论，本机关对腾讯作出如下处理决定：\n（一）责令腾讯及其关联公司采取以下措施恢复相关市场竞争状态：\n1. 不得与上游版权方达成或变相达成独家版权协议（版权范围包括所有音乐作品及录音制品的信息网络传播权）或其他排他性协议，已经达成的，须在本决定发布之日起三十日内解除，与独立音乐人（是指音乐作品或录音制品的原始权利人，并以个人名义与音乐平台进行版权授权，且从未与任何唱片公司或经纪公司签订协议的自然人）或新歌首发的独家合作除外。与独立音乐人的独家合作期限不得超过三年，与新歌首发的独家合作期限不得超过三十日。\n2. 没有正当理由，不得要求或变相要求上游版权方给予当事人优于其他竞争对手的条件，包括但不限于授权范围、授权金额、授权期限等，或与之相关的任何协议或协议条款。已经达成的，须在本决定发布之日起三十日内解除。\n3. 依据版权实际使用情况、用户付费情况、歌曲单价、应用场景、签约期限等因素向上游版权方报价，不得通过高额预付金等方式变相提高竞争对手成本，排除、限制竞争。\n（二）处以50万元罚款。\n（三）依法申报经营者集中。\n1.经营者集中达到国务院规定的申报标准的，应当事先向市场监管总局申报，未申报的不得实施集中。\n2.经营者集中未达到申报标准，但该经营者集中具有或者可能具有排除、限制竞争效果的，应当事先向市场监管总局申报，未申报的不得实施集中。\n3.交易未构成经营者集中的，除法律规定的保护小股东权益事项外，不得参与相关企业经营决策，并在每年的年度报告中向市场监管总局报告交易基本情况等内容。\n（四）依法合规经营，建立健全公平参与市场竞争的长效机制。\n1.全面规范自身竞争行为，对照《反垄断法》开展全面深入自查，检视并规范自身经营行为。\n2.严格落实平台企业主体责任，不断完善平台内部治理规则，按照公平、合理、无歧视原则与其他经营者开展合作。\n3.完善企业内部合规控制制度，建立并有效执行反垄断合规制度，自觉维护公平竞争。\n4.保护消费者合法权益。充分保障消费者各项权利，合理制定收费价格，保护消费者隐私。\n5.积极维护公平竞争，推动行业创新发展。\n以上措施期限自《行政处罚决定书》下发之日起算，腾讯及其关联公司须在十日内对照上述措施制定整改方案，并报市场监管总局审核。市场监管总局三年内有权通过监督受托人或自行监督检查腾讯及其关联公司履行上述义务的情况，腾讯三年内每年向市场监管总局报告履行义务情况，三年到期后不再报告。\n《行政处罚法》第六十七条规定“作出罚款决定的行政机关应当与收缴罚款的机构分离。除依照本法第六十八条、第六十九条的规定当场收缴的罚款外，作出行政处罚决定的行政机关及其执法人员不得自行收缴罚款。当事人应当自收到行政处罚决定书之日起十五日内，到指定的银行或者通过电子支付系统缴纳罚款。银行应当收受罚款，并将罚款直接上缴国库”。\n当事人应当自收到本行政处罚决定书之日起十五日内，根据本行政处罚决定书，携缴款码到12家中央财政非税收入收缴代理银行（工、农、中、建、交、中信、光大、招商、邮储、华夏、平安、兴业）任一银行网点或者网上银行交纳罚款。缴款码：***。\n当事人如对上述行政处罚决定不服，可以自收到本行政处罚决定书之日起六十日内，向国家市场监督管理总局申请行政复议；或者自收到本行政处罚决定书之日起六个月内，依法向北京知识产权法院提起行政诉讼。行政复议或者行政诉讼期间，本行政处罚决定不停止执行。\n市场监管总局\n2021年7月24日","news_type":1,"symbols_score_info":{"00700":0.9,"QNETCN":0.9,"TCEHY":0.9}},"isVote":1,"tweetType":1,"viewCount":1661,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173369912,"gmtCreate":1626617771536,"gmtModify":1703762371236,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"liike","listText":"liike","text":"liike","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/173369912","repostId":"1160796593","repostType":4,"repost":{"id":"1160796593","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626606185,"share":"https://ttm.financial/m/news/1160796593?lang=en_US&edition=fundamental","pubTime":"2021-07-18 19:03","market":"other","language":"zh","title":"OPEC + agrees to increase oil production, ending current stalemate","url":"https://stock-news.laohu8.com/highlight/detail?id=1160796593","media":"老虎资讯综合","summary":"7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和","content":"<p>On July 18, OPEC and its allies agreed to gradually increase oil supplies to the market after Saudi Arabia and the United Arab Emirates settled a dispute that blocked the agreement. Delegates at the meeting said that the organization will increase production by up to 400,000 barrels per day per month until all idle production capacity is restored. Under the agreement, the United Arab Emirates, Iraq and Kuwait will receive higher production quotas from May 2022. The deal will ease the looming supply tightness and reduce the risk of higher oil prices. It also capped a stalemate that had rattled traders.</p><p>OPEC + agreed to a new baseline for the UAE's crude oil production cuts of 3.5 million barrels per day, which will take effect in May 2022.</p><p>In addition to the United Arab Emirates, other OPEC + members are also expected to obtain new production reduction benchmarks, with Iraq and Kuwait increasing their production baselines by 150,000 barrels per day each.</p><p>OPEC + agreed to adjust the benchmark oil production of Saudi Arabia and Russia to 11.5 million barrels per day from the previous 11 million barrels per day starting in May 2022.</p><p>OPEC + also agreed to further relax production cuts from August, with a new crude oil production reduction baseline taking effect in May 2022.</p><p>OPEC + has reached an agreement on crude oil production. The next OPEC + meeting will be held on September 21, agreeing to extend the production reduction agreement until the end of 2022.</p><p>The OPEC draft statement shows that OPEC + plans to completely cancel the 5.8 million barrels per day production cut before September 2022, when market conditions permit.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>OPEC + agrees to increase oil production, ending current stalemate</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOPEC + agrees to increase oil production, ending current stalemate\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-18 19:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On July 18, OPEC and its allies agreed to gradually increase oil supplies to the market after Saudi Arabia and the United Arab Emirates settled a dispute that blocked the agreement. Delegates at the meeting said that the organization will increase production by up to 400,000 barrels per day per month until all idle production capacity is restored. Under the agreement, the United Arab Emirates, Iraq and Kuwait will receive higher production quotas from May 2022. The deal will ease the looming supply tightness and reduce the risk of higher oil prices. It also capped a stalemate that had rattled traders.</p><p>OPEC + agreed to a new baseline for the UAE's crude oil production cuts of 3.5 million barrels per day, which will take effect in May 2022.</p><p>In addition to the United Arab Emirates, other OPEC + members are also expected to obtain new production reduction benchmarks, with Iraq and Kuwait increasing their production baselines by 150,000 barrels per day each.</p><p>OPEC + agreed to adjust the benchmark oil production of Saudi Arabia and Russia to 11.5 million barrels per day from the previous 11 million barrels per day starting in May 2022.</p><p>OPEC + also agreed to further relax production cuts from August, with a new crude oil production reduction baseline taking effect in May 2022.</p><p>OPEC + has reached an agreement on crude oil production. The next OPEC + meeting will be held on September 21, agreeing to extend the production reduction agreement until the end of 2022.</p><p>The OPEC draft statement shows that OPEC + plans to completely cancel the 5.8 million barrels per day production cut before September 2022, when market conditions permit.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ba0e918dfd4ec815c4f78fc4cfc3ea3e","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160796593","content_text":"7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和科威特从2022年5月起将获得更高的产量配额。协议将缓解迫在眉睫的供应紧张，并降低油价上涨的风险。这也为一场令交易员不安的僵局画上了句号。\nOPEC+同意阿联酋的原油减产新基线为350万桶/日，将于2022年5月开始生效。\n除了阿联酋，其他OPEC+成员也有望获得新的减产基准，伊拉克和科威特的产量基线分别提高15万桶/天。\n欧佩克+同意从2022年5月开始，将沙特和俄罗斯的基准石油产量从之前的1100万桶/日调整为1150万桶/日。\nOPEC+还同意从8月起进一步放宽减产，新的原油减产基准线将于2022年5月生效。\n欧佩克+已经就原油生产问题达成协议，下一次欧佩克+会议将在9月21日举行，同意将减产协议延长至2022年底。\n欧佩克草案声明显示，欧佩克+计划在2022年9月之前，在市场条件允许的情况下，全面取消580万桶/日的减产。","news_type":1,"symbols_score_info":{"BZmain":0.9,"CLmain":0.9}},"isVote":1,"tweetType":1,"viewCount":1580,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179153661,"gmtCreate":1626495564153,"gmtModify":1703761145119,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/179153661","repostId":"1130243635","repostType":4,"isVote":1,"tweetType":1,"viewCount":676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141703719,"gmtCreate":1625889426631,"gmtModify":1703750527618,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/141703719","repostId":"1177397700","repostType":4,"isVote":1,"tweetType":1,"viewCount":764,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190082111,"gmtCreate":1620553443233,"gmtModify":1704344922682,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like 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