China set to approve Hong Kong security bill on Thursday

HONG KONG — Lawmakers in China are expected on Thursday to pass legislation that would extend the country’s opaque national security law to Hong Kong.

The bill has triggered renewed street protests in the city and put the Asian hub’s economic status at risk in Washington, where Secretary of State Mike Pompeo said Wednesday that Hong Kong no longer deserves special treatment.

“No reasonable person can assert today that Hong Kong maintains a high degree of autonomy from China, given facts on the ground,” Pompeo said.

The vote at the annual meeting of the National People’s Congress, China’s parliament, could

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Li & Fung investors approve deal to delist Hong Kong trading house

HONG KONG — Shareholders of Li & Fung, the world’s largest sourcing company, on Tuesday gave the green light to a 7.2 billion Hong Kong-dollar ($928.9 million) proposal that will allow its founding family to take the company private during a difficult business environment.

The move will see the century-old business icon delist from the Hong Kong Stock Exchange, where it had its trading debut in 1973 and had been one of the most popular blue chip stocks among investors until it lost that status in 2017.

Once a formidable middleman connecting retailers in the West with manufacturers in the

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OPEC and Russia approve biggest oil cut amid coronavirus pandemic

BAKU/DUBAI/LONDON (Reuters) — OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic and said they had an unprecedented deal with fellow oil nations, including the United States, to curb global oil supply by 20%.

Measures to slow the spread of the coronavirus have destroyed demand for fuel and driven down oil prices, straining budgets of oil producers and hammering the U.S. shale industry, which is more vulnerable to low prices due to its higher costs.

The group, known as OPEC+, said it had agreed to

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