Binance has moved to restrict UK customer access to crypto derivatives after its chief executive said the exchange plans to renew its push for regulatory approval to operate in the country.

The crypto exchange, which clashed with the Financial Conduct Authority earlier this year, sent notices to UK customers on Tuesday requiring them to provide additional information to continue to access derivatives and other features on the platform.

The FCA this year banned offering crypto derivatives to retail investors. But global exchanges such as Binance have still been able to offer these services to customers in the UK through offshore

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Health authorities in Tianjin, China’s fourth-largest city, said late on Monday that they had detected the country’s first known case of the Omicron coronavirus variant, as new outbreaks spread across industrial heartlands.

The discovery came as tens of thousands of people in China have remained in lockdown due to Covid-19 outbreaks despite severe restrictions on international travel.

The cities of Hangzhou, Shaoxing, and Ningbo — all in Zhejiang province, south of Shanghai — have this week reported almost 200 new cases combined, prompting authorities to impose restrictions on movement until March 2022.

There were more than 100 infected people in

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South Korea will begin the application process to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the country’s finance minister said on Monday, after China’s bid to the regional trade pact assuaged Seoul’s fears of upsetting its biggest trade partner.

Hong Nam-ki said on Monday that South Korea could “no longer discuss the issue just within ministries because of the recent active changes in the economic orders in the Asia-Pacific region, such as the applications of China and Taiwan to join the CPTPP”.

Earlier, Kwon Chil-seung, South Korea’s minister for small and medium enterprises, told the Financial Times that

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Last year, as Covid-19 first swept across Europe, a French textiles company tweeted it would start making surgical masks. Within hours, the ministry of health asked how many it could produce; two days later, Les Tissages de Charlieu had made 100,000 masks for French hospitals and public workers.

“Our aim was to onshore a very simple, basic commodity — to prove that it can be done,” said Antoine Saint-Pierre, co-director of the company that is based in Charlieu, a textiles town for more than 500 years. The firm has now also begun making millions of tote shopping bags, generating one-fifth

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China’s digital renminbi, which is being heavily promoted ahead of the Beijing winter Olympics, risks becoming a tool to surveil users and exert control over global currency transactions, the director of UK signals intelligence agency GCHQ has warned.

In an interview with the Financial Times, Sir Jeremy Fleming said that while digital currencies present a “great opportunity” to democratise payment systems, the development of this new technology also poses a threat.

“If wrongly implemented, it gives a hostile state the ability to surveil transactions,” he said. “It gives them the ability . . . to be able to exercise control

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One of Canada’s largest pension funds is to inject at least $300m into British energy group Octopus as part of a deal that will push the six-year-old start-up’s valuation close to $5bn.

Canada Pension Plan Investment Board (CPP Investments) is in return taking a 6 per cent stake in Octopus, which supplies electricity and gas to more than 3m British households but has also built a reputation for its technology platform that it licenses out to rivals domestically and abroad.

Octopus, which also owns solar and onshore wind projects in Europe, has continued to attract investment at a time when

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