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Trump boots Chinese companies

UPDATED: Fri., Jan. 1, 2021

NEW YORK – Three Chinese companies will be booted off the New York Stock Exchange this month under an executive order signed in November by President Donald Trump.

The exchange says China Telecom Corp. Limited, China Mobile Limited, and China Unicom Hong Kong Limited will be delisted from the exchange. Trump issued an order Nov. 12 barring investment in publicly traded companies that the U.S. government says are owned or controlled by the Chinese military.

The statement issued late Thursday says the exchange will suspend trading of the companies as early as Jan. 7 or as late as Jan. 11. It says the stock issuers can appeal to a committee of the NYSE’s board.

The Chinese government has accused Washington of misusing national security as an excuse to hamper competition and has warned that Trump’s order would hurt U.S. and other investors worldwide.

Sugar shortage sweetens prices

Raw-sugar futures rose, heading for the longest streak of monthly gains since 2006 as demand increases at a time of diminished supplies.

Key buyers Indonesia and China are ramping up imports of the sweetener, while a drought curbs prospects in top shipper Brazil and Thailand contends with a lower crop outlook.

Drier-than-normal conditions over Brazil’s center-south cane-growing areas are expected to result in a decline in the nation’s 2021-22 production, and the drop could be accentuated if there’s a big shift toward cane use in ethanol production, according to the Hightower Report.Raw-sugar futures for March delivery rose as much as 1.4% to 15.50 cents a pound on ICE Futures U.S. in New York, the highest for a most-active contract in six weeks.

The commodity traded at 15.48 cents at 11:54 a.m. Sugar is nearing an eighth straight monthly advance in December. For the year, it’s up 15%, the most since 2016.

From wire reports

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