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U.S. federal debt tops $40 trillion for first time as Congress faces debt limit fight
House Budget ranking member Brendan F. Boyle said he would insist on a proposal allowing the Treasury secretary to suspend the debt limit for up to two years, taking the 'weapon' off the table permanently.
China's securities regulator revises futures company rules, splitting business into basic and trading categories
China's securities regulator on Sept 11 released a revised version of the Futures Company Supervision and Management Measures, which divides futures companies' businesses into basic categories (domestic futures brokerage and futures trading advisory) and trading categories (futures market-making, futures asset management, and derivatives trading). The revision also refines rules on company establishment, changes, and business access. An accompanying implementation notice addresses procedures for applying for additional business permits, overseas subsidiary regulation, and transition arrangements.
China Mining Congress Issues Initiative to Embed Financial Resources into Mineral Exploration
On September 11, at the 28th China International Mining Conference in Tianjin, the Ministry of Natural Resources released the "Initiative on Financial Support for a New Round of Mineral Exploration Breakthrough Strategy," calling on the industry to deeply integrate financial resources into all stages of mineral exploration to achieve tangible results.
Canada slaps retaliatory tariffs on US, targeting Trump's midterm battleground states
Canadian Industry Minister Mélanie Joly stated the tariffs are strategic political pressure on vulnerable Republicans. A CNN poll shows nearly two-thirds of voters in Maine and Michigan view the trade war negatively.
Kenya to receive $400 million in emergency World Bank financing
Kenya is set to receive $400 million in emergency financing from the World Bank.
Study: Germany Has Cheapest Diesel in Europe When Taxes Are Excluded
A study by the German mineral oil industry shows that, excluding taxes and duties, diesel in Germany is the cheapest in Europe. Economic journalist Daniel Zwick notes the high government share in fuel prices, calling it "politically intentional."
Trump's shadow looms over BRICS summit in Delhi as Modi hosts Putin and Xi
Analysts say the summit is unlikely to produce a consensus statement openly criticizing Washington due to deep internal divisions and reluctance from India, China, and the UAE to antagonize the White House.
Trump and Musk super PACs pour millions into key Republican districts ahead of midterms
Trump-affiliated super PAC 'No Going Back' has secured over $24.9 million in ad time across six battleground states; Musk's America PAC and Trump's MAGA Inc. invested $2.4 million and $10 million respectively in the Texas U.S. Senate race.
Securities practitioner Zong Jianshu banned from market for 5 years for fabricating tax adjustment rumors
The China Securities Regulatory Commission (CSRC) announced on September 11 that it has imposed a five-year market ban on securities practitioner Zong Jianshu for fabricating and spreading false information about tax rate adjustments. On December 16, 2025, Zong posted the false claim in a WeChat group, which then spread widely online and disrupted the securities market. As no illegal gains were involved, the CSRC barred Zong from engaging in securities business or serving as a director, supervisor, or senior executive at any issuer during the ban period.
Medtronic Raises Fiscal 2027 Guidance on Strong Cardiovascular Growth
Medtronic raised its fiscal 2027 organic revenue growth forecast to 7.25%-7.75% from 6.75%-7.25% and lifted the lower end of adjusted EPS guidance to $5.94 from $5.90, keeping the upper end at $6. The revision followed a quarterly beat: adjusted EPS of $1.45 on revenue of $9.76 billion, both above LSEG analyst estimates. Cardiovascular sales surged 19.5% to $3.93 billion, driven by an 88% jump in pulsed field ablation products for irregular heart rhythms. CEO Geoff Martha said the raised outlook reflects broad business strength and growing contributions from newer platforms.
Ford caught in Washington crossfire over China ties: criticized by GOP, praised by White House in one day
Ford Motor faced conflicting signals from Republicans and the Trump administration this week over its partnerships with Chinese companies. On Sept 9, the House Select Committee on China criticized Ford for warning against Chinese automakers while collaborating with them; Transportation Secretary Sean Duffy called Ford's China ties 'troubling.' Hours later, the White House praised Ford as a 'great American company,' and Commerce Secretary Howard Lutnick had recently lauded some of the same moves Duffy criticized. Ford said it was puzzled, noting its dialogue with the administration had been productive.
Trump's tariff escalation on Canada sparks GOP midterm election concerns
According to The Hill, Republican strategists worry the trade war has become a significant midterm liability. Senators Susan Collins and Kansas's two GOP senators are reportedly at a loss to explain Trump's approach.
Canadian Oil Pushes Deeper Into U.S. Gulf Coast Market
Enbridge's Houston Oil Terminal (EHOT), which started operations in July, gives Canadian heavy crude direct access to U.S. Gulf Coast refineries and export docks. The region has the world's largest concentration of heavy, sour crude processing capacity, and refiners there are seeking non-Middle Eastern heavy barrels as Mexican output declines, Venezuelan supply remains uncertain and the Iran war complicates shipments. Enbridge plans to expand EHOT's storage capacity from 2.5 million to 15 million barrels.
US Treasury Secretary Scott Bessent warns traders not to bet against his yen-boosting plan: 'I am the house now'
Speaking at an event in Texas on Sept. 8, U.S. Treasury Secretary Scott Bessent said he has 'asymmetric information' about what the Bank of Japan and Japanese policymakers will do, so traders should not bet against his plan to bolster the yen. 'I am the house now,' Bessent said. The U.S. bought an estimated billions of yen in July, its first such intervention in 30 years, after the yen hit a four-decade low. As of Sept. 8, the yen had recovered to ¥153.76 per dollar from ¥163 in July.
China's Finance Ministry to Boost Insurance Coverage for Major Crops, Reduce County-Level Premium Burdens
China's Ministry of Finance on September 11 released a plan to accelerate high-quality development of agricultural insurance, aiming to enhance risk protection for staple crops, cotton, oilseeds, sugar crops and rubber. It will gradually lower the share of county-level premium subsidies in major grain-producing counties and expand the insured area for full-cost and planting income insurance for rice, wheat, corn and soybeans.
China's Finance Ministry to Dynamically Adjust Insurance Coverage for Hog, Dairy Farming
China's Ministry of Finance on Sept 11 released a plan to accelerate high-quality development of agricultural insurance, proposing to dynamically adjust insurance coverage levels for breeding sows, fattening pigs and dairy cows, encourage differentiated risk protection based on farming methods, and strengthen livestock count monitoring.
China's Finance Ministry encourages local development of agricultural weather index insurance
China's Ministry of Finance released a plan to accelerate high-quality development of agricultural insurance, proposing to improve the product supply system with 'policy insurance + commercial insurance' and 'basic insurance + supplementary insurance'. It encourages local governments to develop supplementary insurance based on basic coverage like physical cost insurance, and to develop agricultural weather index insurance tailored to local conditions. It also supports insurers in offering commercial agricultural insurance and comprehensive insurance packages for farmers.
China's Finance Ministry Urges Timely Disbursement of Agricultural Insurance Subsidies, Encourages Provincial-Level Settlement
China's Ministry of Finance issued an implementation plan to accelerate high-quality development of agricultural insurance, calling for strengthened management of premium subsidies and timely disbursement to insurers. It encourages provincial-level settlement between finance departments and insurance firms' provincial branches to improve fund efficiency.