FT News Briefing China’s rare earth mineral exports, Hong Kong stock trading, Amsterdam Spacs
Feb 17, 2021
China is considering limits on rare earth mineral exports, impacting the U.S. defense industry. Meanwhile, Hong Kong sees trading volumes leap to four times those in London. Amsterdam is emerging as Europe’s SPAC capital, attracting attention for its favorable conditions. Additionally, the iconic Second City comedy club in Chicago may soon have a new owner, signaling changes in the entertainment landscape.
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China's Rare Earth Strategy
- China explores limiting rare earth mineral exports, crucial for U.S. defense and technology.
- This is partly due to China's own growing demand and partly a strategic move in the U.S.-China tech war.
Amsterdam's SPAC Appeal
- Amsterdam is becoming Europe's SPAC capital, attracting listings due to its flexible rules, similar to the U.S.
- Unlike London, Amsterdam allows SPAC investors to redeem their cash if they dislike the acquisition target.
SPAC Stars
- High-profile investors like Bernard Arnault and Jean-Pierre Mustier are launching a SPAC in Amsterdam.
- They join other former bank CEOs in the European SPAC race.