NewStats: 3,264,689 , 8,184,421 topics. Date: Thursday, 12 June 2025 at 04:27 AM 255u6o

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Local shops in China uses e-CNY to make payments

Hong Kong allows China's digital yuan to be used in local shops

HONG KONG (Reuters) - Hong Kong will allow mainland China's pilot digital currency to be used in shops in the city, the head of its de facto central bank said on Friday, marking a step forward for Beijing's efforts to internationalise the yuan amid rising geopolitical tensions.

The programme, backed by Beijing, will allow mainland Chinese and Hong Kong residents to open digital yuan wallets via a mobile app developed by China's central bank and will permit them to make payments in retail shops and some online stores in Hong Kong and in mainland China.

Transactions using e-CNY, predominantly for domestic retail payments in China, hit 1.8 trillion yuan ($249.27 billion) as of end of June 2023, with 120 million digital wallets opened, according to the latest disclosure from China's central bank.

Using the wallet, s can make payments at over 10 million merchants in 17 provinces and cities in the mainland.

Each wallet used in the city will be subject to a balance limit of 10,000 yuan, with single transactions and daily payments capped at 2,000 yuan and 5,000 yuan, respectively, officials from the Hong Kong Monetary Authority said.

Peer-to-peer transfers will not be allowed at the moment, according to the HKMA.

"By expanding the e-CNY pilot in Hong Kong .. s may now top up their wallets anytime, anywhere without having to open a mainland bank , thereby facilitating merchant payments in the mainland by Hong Kong residents," HKMA Chief Eddie Yue said.

Currently, s of other digital yuan wallets such as those operated by Ant Group and Tencent can make payments in the city.

Industrial and Commercial Bank of China, Bank of China Ltd, China Construction Bank Corp and Bank of Communications Co have been selected as e-CNY wallet operators.

The yuan's use in global finance remains low, though it has shown steady increases.

($1 = 7.2211 Chinese yuan renminbi)

https://www.reuters.com/markets/currencies/hong-kong-allows-chinas-digital-yuan-be-used-local-shops-2024-05-17/

A teacher has been found guilty of having sex with two schoolboys.

Rebecca Joynes, 30, groomed both boys from the age of 15, Manchester Crown Court was told.

Joynes was convicted of four counts of sexual activity with a child and two counts of sexual activity with another child,

She was on bail for sexual activity with the first child, boy A, when she began sex with the second, boy B, who she went on to become pregnant by.

Neither teen must be identified.

Joynes closed her eyes and grimaced before beginning to shake as the guilty verdicts were returned by the jury foreman.

Her mother and father, sitting in the public gallery, made no reaction.

But yards away the parents of the boys stifled cheers as Joynes was convicted.

Judge Kate Cornell warned Joynes: "There's a baby in this case who has done nothing wrong and is entirely innocent of all wrongdoing, and you will obviously want to see her before the sentence is ed, I do understand that.

"But you must be under no illusion what's going to happen on the fourth of July."

Michael O'Brien, defending, successfully applied for bail.

'Flattered'
The court previously heard that Joynes was 28, had just come out of a nine-year relationship, and was "flattered" by the attention of teenage schoolboys.

Boy A worked out her mobile number after she gave him all but one digit, and the pair connected on Snapchat.

He sent her flirtatious texts and they agreed to meet secretly.

Boy A lied to his mother that he was staying over at a friend's house after school finished on Friday, but instead Joynes picked him up near his home in her Audi A1, took him to the Trafford Centre, and bought him a £350 Gucci belt.

The next day the boy's mother noticed a love-bite on her son's neck, which he dismissed as "nothing".

But police received a tip-off and visited the school along with boy A's "distraught" mother, who stormed into reception after being told her son had spent the night with a teacher.

Joynes was bailed on condition she have no unsupervised with anyone under 18.

She said she had a "breakdown" and moved back to her parents in Wirral.

She was at a low point when boy B messaged her on Snapchat asking how she was.

"I genuinely thought he cared," Joynes said.

Joynes moved back to Salford Quays, and Boy B visited and they had sex for the first time.

She was arrested for breaking bail conditions and spent five months in custody until she was bailed in November last year, giving birth in early 2024.

Jane Wilson, senior crown prosecutor for S North West, said: "Rebecca Joynes is a sexual predator.

"She abused her position to groom and ultimately sexually exploit schoolboys. Her behaviour has had a lasting impact on them."

https://www.bbc.com/news/uk-england-manchester-69026069.amp


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Tesla's Storing Unsold Inventory In An Abandoned Mall Parking Lot

Parking lots full of Tesla vehicles are becoming impossible to ignore as the electric automaker seemingly can’t sell enough cars and trucks to match its rate of production. According to its own figures, the electric automaker produced 46,561 more vehicles than it delivered to customers during the first quarter of 2024. Where are all these cars going? Parking lots at its factories, malls and airports.

The Chesterfield Mall, about 20 miles west of St. Louis, has become an overflow lot for Tesla. Emblematic of American retail’s current state, the mall is slated to be demolished and replaced with a $2 billion mixed-use project. The Staenberg Group, the mall’s owner, is eking out the last drops of revenue before the mall’s remaining tenants have to move out on August 31. Tim Lowe, a Staenberg Group senior vice president, told KTVI:

Lowe estimates that there are at least 300 Tesla vehicles parked at the Chesterfield Mall. However, Tesla isn’t slowing down production, Recent drone footage from the automaker’s Fremont, California factory shows that cars are still rolling off the assembly lines at a high rate to fill the site’s lots. Things aren’t different on the other side of the Atlantic. Neuhardenberg, a small town in of less than 3,000 residents, is complaining about the noise Tesla transporters are making as the company parks cars at the nearby regional airport.

Along with having to store ten percent of the vehicles it builds, Tesla also laid off ten percent of its workforce. The Cybertruck is also proving to be a nightmare for many of the owners who decided to take the plunge on the divisive electric pickup, including a warrant that covers coolant leaks for the first 35 miles.

https://autos.yahoo.com/teslas-storing-unsold-inventory-abandoned-174500896.html