slumped after Macau announced plans Tuesday to boost “direct supervising” of gambling companies to better monitor their operations, among other proposals. China had already been clamping down on gambling activity in Macau over concerns that the high-stakes betting can sometimes be an illicit channel for currency outflows and money laundering. 

Macau casino shares continued to fall in Hong Kong on Thursday, extending a record rout from the previous day as the Chinese government moves to tighten its grip on the world’s biggest gambling hub.

Sands China Ltd. and Wynn Macau Ltd. dropped by at least 5.8%. A Bloomberg index of the six casino operators in the gambling enclave slumped as much as much as 4.3%, adding to the 23% record slump Wednesday, which was the biggest slide since its inception in 2005.

Cathie Wood’s exchange-traded funds sold more Tesla Inc. shares, taking the total value of the electric vehicle maker’s stock they’ve offloaded this month to about $266 million.

The ARK Innovation and ARK Next Generation Internet ETFs sold over 81,600 shares in Tesla on Wednesday, according to ARK Investment’s daily trading

The Solana blockchain linked to one of this year’s fastest-rising cryptocurrencies is trying to bolster the network after a major outage and promising to implement more protective steps.

A “detailed post-mortem” analysis will be issued in coming weeks, according to the @SolanaStatus Twitter account, after the network suffered an

Tencent Holdings Ltd. is set to lose its place among the world’s 10 largest companies by market value, leaving no Chinese names in the list as Bejing’s regulatory crackdown continues to wreak havoc on the stock market.

Hong Kong-listed shares of the internet giant fell as much as 1.9% Thursday before paring some of that loss, with its market capitalization standing at about $552 billion as of 11:55 a.m. local time. That’s just below the value of U.S. chipmaker Nvidia Corp., according to data compiled by Bloomberg.

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Gains in Japanese exports slowed more than expected in August as a delta-driven wave of the coronavirus weighed on the global trade recovery and supply chain blockages crimped auto shipments.

Oppo is cutting around 20% of staff in key software and device teams after it merged operations with affiliate OnePlus, the first major consolidation in a Chinese mobile industry struggling with chip shortages and Covid-triggered economic shocks.

Oppo, which in 2016 became the country’s

Hong Kong government health advisers said there’s no urgency to give residents Covid-19 booster shots since there have been no outbreaks in three months, a decision that runs counter to the steps many other developed economies are taking. 

A third dose won’t be needed until two to three months before the city’s borders open, said experts on two

The Philippines is checking initially 250 social media influencers if they are paying their taxes as the government seeks to plug revenue leaks amid rising debt. 

Letters for investigation were sent to social media endorsers who are top earners in their field, the finance department said in a statement on Thursday, citing a report from the Bureau of Internal Revenue.  

One of the biggest U.S. investors in oil and natural gas wells is buying $450 million worth of assets in the Texas Eagle Ford shale basin from a renowned energy family in Dallas. 

Music-annotating startup Genius Media Group Inc., a site that drew attention in part for outsized funding from venture capitalists, has sold its assets to a Santa Monica, California-based media holding company for $80 million.

The buyer is MediaLab.Ai Inc., which will cut some jobs as part of the process. “We are restructuring the way in which original content is produced at Genius and as part of that some very talented individuals on the content and production teams were let go,” MediaLab said in a statement. The company will not make cuts to the teams handling sales, product or engineering, said a person familiar with the matter who asked not to be identified discussing private information. “The scale of the community platform is what attracted us to Genius and this is where we will be heavily investing going forward, with a renewed focus on emerging artists,” the company said. 

better-than-expected economic growth data has seen traders ratchet up odds of an interest-rate hike next month, and also propelled the kiwi toward a key resistance level.

The probability of a 50-basis-point hike by the Reserve Bank of New Zealand at its October meeting rose to 44% after the numbers were published, from just 16% on Wednesday, according to overnight-index swaps. Gross domestic product accelerated to 2.8% in the second quarter, government data showed, versus the median estimate of economists of 1.1%.

Argentina’s first draft of next year’s budget bill to be sent to congress on Wednesday expects the country will reach a deal with the International Monetary Fund to refinance its record $45 billion loan.

President Alberto Fernandez said that the assumption requires his government to keep working on a new agreement with the Washington organization to replace a 2018 program that failed to lift the crisis-prone economy. While the Argentine government has been in conversations with the IMF for over a year, talks barely yielded anything concrete that would lead to a new program.

The world’s hottest stock market is in the coldest of its capitals. 

In a year when a seemingly unstoppable rally has pushed equities from the U.S. to Europe into successive record highs, Mongolia’s minuscule bourse has emerged as the undisputed champion.   

tighten its grip on the world’s biggest gambling hub, the junket operator had just one thing to say: sell. 

“There is no hope in Macau,” the executive said in an interview, declining to be named on concern there could be fallout for their business, which facilitates loans for bettors in Macau. 

Australia’s economy shed more jobs than expected in August as an outbreak of the delta variant of coronavirus forced a prolonged lockdown in the nation’s two largest cities and prompted firms to cut workers. 

Employment dropped by 146,300 last month, compared with economists’ forecast of an 80,000 decline, Australian Bureau of Statistics

China’s crackdown on casinos threatens the future of Macau. Pfizer says the efficacy of its Covid-19 vaccine diminishes over time. The biggest package of U.S. tax increases in a generation takes a major step forward. Here’s what you need to know this morning.

Chevron Corp.’s top executive.

“There are things that are interfering with market signals right now that we haven’t seen before. Eventually things work out, but eventually can be a long time,” Chief Executive Officer Mike Wirth said Wednesday in an interview at Bloomberg News headquarters in New York. He expects strong prices for gas, liquefied natural gas and oil, at least “for a while,” without specifying a timeframe.

New Zealand’s economy was expanding at more than twice the pace forecast by economists before a nationwide lockdown interrupted its momentum, latest data show. 

Gross domestic product surged 2.8% in the second quarter from the first, when it jumped 1.4%, Statistics New Zealand said Thursday in Wellington. Economists forecast a 1.1% gain. From a year earlier, when the country was in its initial pandemic lockdown, the economy expanded 17.4% against expectations of 16.1% growth.