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Clearly aware of the systemic risks created by the US abolition of Regulation Q, Yi Gang, governor of the PBOC, told Caixin Media in a recent interview: "Unlike benchmark lending interest rates, benchmark deposit rates will remain in place for a relatively long time, to avoid banks setting high rates in a fierce competition for deposits."

Chopra and Democratic FTC Commissioner Rebecca Slaughter said the billion penalty may be less than Facebook's gains from violating users' privacy.

Christie became the subject of widespread mockery and derision after a New Jersey newspaper captured photos of the Republican governor and his family sunbathing on a beach that had been closed to the public over the holiday weekend due to the budget standoff.

Citing "people familiar with the matter", the Journal said investors including Capital Group, Tiger Global Management and Southeastern Asset Management have "privately criticized" SoftBank for losses totaling .8 billion after investing in WeWork and other companies moving beyond startup.

Chinese steel companies often had to produce and export products as per technological standards of the United States and Europe, but now more and more foreign users are accepting Chinese standards, he said.