BHP Drops $60 Billion Anglo-American Deal Due to Market Instability and Regulatory Challenges

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BHP Drops $60 Billion Anglo-American Deal Due to Market Instability and Regulatory Challenges

Bitget-RWA2025/11/24 03:18

By:Bitget-RWA

- China's Zhao Leji urged NZ economic ties in green energy/digital sectors during landmark visit, aligning with Beijing's five-year plan. - BHP abruptly canceled $60B Anglo-American merger due to volatile markets and regulatory hurdles, reversing 2024 proposal. - Modi praised G20 outcomes as global cooperation milestone, highlighting bilateral engagements with Japan/Italy leaders. - Snapchat introduced bank-linked age verification in Australia to comply with social media restrictions ahead of fines. - Cryp

During a historic visit, Zhao Leji, China's third-highest official, advocated for deeper economic ties with New Zealand, highlighting green energy, digital technology, and infrastructure as priority sectors for cooperation

as reported

. This marks the first visit in twenty years by the leader of China's top legislative institution and included discussions with Prime Minister Christopher Luxon. Zhao pointed to new prospects under China's forthcoming five-year strategy, aligning with China's broader push to reinforce relationships with Pacific countries. China continues to be New Zealand's primary trade partner.

BHP Drops $60 Billion Anglo-American Deal Due to Market Instability and Regulatory Challenges image 0

Elsewhere, global financial markets responded to a significant corporate development as

BHP Group

(BHP)

unexpectedly dropped its bid

to merge with Anglo American, just weeks before shareholders were scheduled to vote on the $60 billion copper-centric transaction. The announcement on Monday reverses a 2024 proposal that

BHP

had already pulled back after multiple rejections. Experts believe this reflects a shift in strategy amid fluctuating commodity markets and regulatory hurdles.

In Asia, Indian Prime Minister Narendra Modi

commended the achievements

of the G20 Summit in Johannesburg, describing the gathering as a pivotal moment for advancing global collaboration in trade, technology, and climate initiatives. Modi highlighted "productive" bilateral talks with leaders such as Japan's Fumio Kishida and Italy's Giorgia Meloni, indicating a renewed emphasis on strategic partnerships. South African President Cyril Ramaphosa was also recognized for his diplomatic efforts during the summit.

Separately, in Australia, regulators saw Snapchat (SNAP) roll out a bank-integrated age verification feature to meet upcoming social media regulations

as per Reuters

. The tool, which utilizes ConnectID—a service adopted by major banks—aims to confirm users are over 16 without sharing personal information. This update comes as companies like Meta face penalties for failing to comply before the December 10 deadline.

Cryptocurrency markets experienced renewed volatility as Strategy, a Bitcoin-centric company, joined others in urging a boycott of JP Morgan over proposed changes to the MSCI index

according to Cointelegraph

. The company warned that the new rules, which would exclude firms holding at least 50% crypto assets, could prompt sell-offs and disrupt prices. This comes amid

a surge in Solana-based ETF inflows

, with $476 million invested over 17 straight days, even as

SOL

prices fell by 30%. Analysts caution that technical signals point to more corrections ahead, with $140 identified as a significant resistance level.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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