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2023年3月4日小编

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Post Office exec denies remote access cover-up

Angela van den Bogerd says she was not trying to "suppress" Horizon remote access.

Open seating no more? Southwest CEO says airline is weighing cabin changes

Southwest stands apart from other large airlines because it does not have seat assignments.

Tata rejects plea to keep Port Talbot blast furnace

Tata's chief executive says plans to keep one blast furnace open in Port Talbot are not viable.

Southwest cuts growth plans, warning effect of Boeing airplane delays will last into 2025

Southwest Airlines is one of Boeing's biggest customers and flies only 737s.

Bristol Myers Squibb beats on revenue, launches $1.5 billion cost cuts as it posts quarterly loss

Bristol Myers Squibb said the charges primarily reflect its acquisition of Karuna Therapeutics and collaboration agreement with SystImmune.

Divestment From Israel Is a Rallying Cry for College Protesters

The campaign is likely to have a negligible impact on the companies or Israel, but activists see divestment as a clear way to force colleges to take action on the issue.

Honda Commits to E.V.s With Big Investment in Canada

The Japanese automaker, which has been slow to sell electric vehicles, said it would invest $11 billion to make batteries and cars in Ontario.

Labour pledges to renationalise most rail services

Labour says its plan will improve services - but the Tories say it is "pointless" and "unfunded".

‘To the Future’: Saudi Arabia Spends Big to Become an A.I. Superpower

The oil-rich kingdom is plowing money into glitzy events, computing power and artificial intelligence research, putting it in the middle of an escalating U.S.-China struggle for technological influence.

Honda to build $11 billion electric vehicle hub in Canada

Honda and its joint venture partners plan to invest $11 billion in Ontario, Canada, to create a "comprehensive EV value chain," the automaker announced.

Why Is It So Hard to Find Local Fish (Even by the Water)?

Seafood caught in nearby waters has long been left out of the farm-to-table movement. But these people have set out to get it into stores and restaurants.

Southwest Quits Four Airports in Cost-Cutting Drive

The airline expects fewer deliveries of Boeing planes than before, and cited “significant challenges” in achieving growth plans because of it.

Comcast beats earnings estimates even as it sheds more broadband subscribers

Comcast beat first-quarter earnings expectations on Thursday.

Starbucks and Union Restart Contract Talks After Bitter Standoff

The company and Workers United, which represents more than 10,000 of the chain’s employees, broke off negotiation nearly a year ago.

Key Solar Panel Ingredient Is Made in the U.S.A. Again

REC Silicon says it will soon start shipping polysilicon, which has come mostly from China, reviving a Washington State factory that shut down in 2019.

Merck beats earnings expectations, raises outlook on strong Keytruda and vaccine sales

The first-quarter results come as Merck shows substantial progress in preparing for Keytruda's patent expiration in 2028.

US economic growth slows but inflation grows

The world's largest economy grew less than expected but rising inflation may delay a rate cut.

U.S. Economy Grew at 1.6% Rate in First-Quarter Slowdown

Consumers ensured that growth continued, but the latest data showed signs of vulnerability elsewhere.

N.F.L. Draft Is Like Super Bowl for City of Detroit

Places that are not usual sites for the league’s marquee game are jumping at the chance to be the host of its three-day draft.

A New Battery Warns Parents if Their Child Has Swallowed It

The new battery by Energizer, with “color alert technology,” comes nearly two years after a report warned that more children were swallowing batteries.

A Chinese Firm Is America’s Favorite Drone Maker — Except in Washington

U.S. authorities consider DJI a security threat. Congress is weighing legislation to ban it, prompting a lobbying campaign from the company, which dominates the commercial and consumer drone markets.

Biden, Seeking to Build on Fruitful Week, Will Announce Billions in Chip Grants

The $6.1 billion for Micron, to shore up the domestic supply of semiconductors, comes after a key union endorsement and passage of an aid bill central to the president’s foreign policy agenda.

American Airlines swings to a loss, but tops estimates for Q2 forecast

American Airlines swung to a loss in the first quarter, but its forecast for the current period surpassed analysts' estimates.

Google accused of making it harder to search for rival

In a complaint to the EU, email firm Tuta says it suddenly became much less visible in Google search.

Mining Giant BHP Makes $39 Billion Bid for Rival Anglo American

The deal would create one of the largest copper miners at a time when demand is soaring for the metal used in many green technologies.

There Is No TikTok in China, Only Douyin. Here’s What It Is.

ByteDance owns both TikTok and Douyin, and although TikTok has more users around the world, Douyin is the company’s cash cow and a China mainstay.

Will Labour’s plan make train tickets cheaper?

What impact will Labour's pledge to nationalise the railways have?

Wall Street’s Patience for a Costly A.I. Arms Race Is Waning

A sell-off in Meta’s stock after the company disclosed huge investments in the technology may be a sign of investor fears about tech giants’ spending.

Sainsbury's: Almost everyone now shops in store

Nearly 90% of business now comes from its stores, the retailer says, as it reports a rise in food sales.

Red Lobster seeks a buyer as it looks to avoid bankruptcy filing

Beleaguered seafood chain Red Lobster is looking for a buyer to avoid filing for bankruptcy as it contends with slower sales and costly leases.

Mining giant BHP proposes buyout of Anglo American

The potential mega merger would give BHP access to Anglo American's copper assets.

The National Enquirer’s Parent Company Struggles To Find A Buyer

The parent company for The Enquirer, the tabloid now famous for its ties to former President Donald J. Trump, has tried repeatedly to sell the publication. It hasn’t been easy.

How Pastor Chad Nedohin Helped Turn Trump Media Into a Meme Stock

Chad Nedohin, a part-time pastor, is among the fans of Donald J. Trump who helped turn Trump Media into a meme stock with volatile prices.

With New Salt and Sugar Limits, School Cafeterias Are ‘Cringing’

Many parents and nutritionists applauded stricter federal regulations, but food companies say the changes could increase costs and waste.

Meta AI spending plans cause share price slump

Investors react badly to the Facebook and WhatsApp owner spending more than anticipated on AI.

China preps for clampdown on financial crimes with new version of anti-money-laundering law

China is readying a revision of its law on money laundering, signalling a hardening of penalties for financial crimes and a desire to keep practices in line with international standards.

Antony Blinken Visits China

Tensions over economic ties are running high, threatening to disrupt a fragile cooperation between the U.S. and China.

Walgreens to help bring cell and gene therapies to patients as it expands specialty pharmacy services

Among the company's investments to "transform" its specialty pharmacy services is the opening of a new facility dedicated to cell and gene therapy services.

Europe’s Policymakers Get Ready to Lower Rates, Regardless of the Fed

European Central Bank governors are highlighting cooler inflation as a sign the bank could cut interest rates before the Federal Reserve.

Climate disclosures: China’s ESG rules for listed firms could spur private firms to set net-zero targets, analysts say

‘Private firms are obviously looking at the torch that is potentially coming for themselves,’ when it comes to declaring emissions goals, says Net Zero Tracker project leader

China’s food security push catches ‘grain-stealing mouse’ among 5 accused of US$3.45 million corn theft

Police in northern China have detained five people for allegedly colluding to steal about 10,000 tonnes of corn amid Beijing’s increasing focus on food security.

McKinsey Is Under Criminal Investigation for Its Opioid Work

Federal prosecutors are examining the consulting company’s role in helping “turbocharge” the sale of painkillers like OxyContin.

Inside the Crisis at NPR

Listeners are tuning out. Sponsorship revenue has dipped. A diversity push has generated internal turmoil. Can America’s public radio network turn things around?

How fraudsters are getting fake articles onto Facebook

Scammers are able to get past automated checks on the social media giant to try to defraud users.

US TikTok ban would be 'devastating', UK firms warn

UK businesses using TikTok say they could see a significant drop in sales if the app is banned in the US.

Chinese, US corporate leaders propose to defuse trade tension on supply chain, new-energy vehicles at Apec’s business lobby

The plan would next be submitted to the relevant ministries in each of the 21 member economies of Apec before appearing on the agenda of the Apec Leaders’ summit in Lima in the week of November 10.

Meta Says It Plans to Spend Billions More on A.I.

Along with the higher spending, the owner of Facebook, Instagram and WhatsApp projected lighter-than-expected revenue, causing its stock to plummet.

Chipotle abandons Farmesa Fresh Eatery spinoff after ghost kitchen closes

A little over a year ago, Chipotle announced the opening of its first Farmesa location.

JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank

The escalation shows how American banks are struggling to navigate American sanctions rules more than two years after Russia's invasion of Ukraine.

Chipotle posts big earnings beat as diners shake off higher prices

The burrito chain said traffic increased 5.4% in its first quarter.

China’s central bank drops hints at future bond trades, answering calls for muscular monetary action

The People’s Bank of China has indicated its approval for trading treasury bonds on the secondary market, signalling more robust action to boost liquidity and fuel growth is no longer out of the question.

Ford tops first-quarter earnings estimates as commercial unit offsets EV losses

Sales of Ford Motor trucks and other commercial vehicles led the automaker to beat Wall Street's earnings estimates for the first quarter.

FDA Approves Antibiotic to Treat Urinary Infections

Pivmecillinam, which has been used in Europe for decades, will become available next year to women 18 and older.

What to Know About the New Rules on Airline Refunds and ‘Junk’ Fees

The Transportation Department issued new requirements on refunds when flights are canceled or delayed and on revealing “junk” fees before booking. Here’s what passengers can expect.

Business Groups Sue to Stop F.T.C. From Banning Noncompete Clauses

The lawsuits contend the F.T.C. does not have the authority to prohibit companies from limiting their employees’ ability to work for rivals.

Inside Lawmakers’ Secretive Push to Pass the TikTok Bill

A tiny group of lawmakers huddled in private about a year ago, aiming to keep the discussions away from TikTok lobbyists while bulletproofing a bill that could ban the app.

Beef From Dairy Cows? It Could Be a Lifeline for American Farmers.

Letting milk cows graze longer can produce superior beef — a largely European practice that is now gaining ground in America.

Robert Kraft Withdraws Support From Columbia Over Protests

The New England Patriots owner said this week that he was “no longer comfortable supporting” Columbia University, his alma mater, which has been disrupted by protests.

Boeing reports better-than-feared quarter, says supply chain is stabilizing amid 737 Max crisis

Boeing has been mired in a safety crisis since a door plug blew off a 737 Max 9 in early January.

Boeing Loses $355 Million in Latest Quarter

The manufacturer has had to slow production of its popular 737 Max planes after a hole blew open on a jet during an Alaska Airlines flight in January.

Binance Founder Should Get 3 Years in Prison, Prosecutors Say

Lawyers for Changpeng Zhao, the founder of the crypto exchange Binance, countered that he should receive no prison time.

Long-Lost Klimt Painting Sells for $37 Million at Auction

The portrait was left unfinished in the painter’s studio when he died, and questions persist over the identity of the subject and what happened to the painting during Nazi rule in Austria.

Ex-Post Office boss "opposed stopping prosecutions"

The former Post Office boss was against stopping postmaster prosecutions in 2013, former top lawyer says.

TikTok vows to fight 'unconstitutional' US ban

The app faces being banned or sold in the US because of national security concerns.

Starbucks resumes bargaining with union after two sides thaw relationship

In February, Starbucks and Workers United said they found a "constructive path forward," marking a major strategic pivot for the coffee giant.

Solar Companies Seek New U.S. Tariffs on Asian Imports

Firms warn that China uses its neighbors to skirt existing levies, depressing prices and threatening U.S. investments.

US overtakes mainland China as Taiwan’s main export market, sign of ‘strategic shift’ amid tech decoupling

Taiwan’s exports to the US in the first quarter beat shipments sent to mainland China, with analysts pointing to a ‘strategic plan’ by Washington to construct and lead a world supply chain and market order.

John Barnes banned as company director over taxes

John Barnes Media Ltd failed to pay £190,000 in taxes despite a turnover of over £400,000.

Outcry led to HMRC's helpline closure U-turn

An unexpected “strength of feeling” led to the U-turn over its helpline closure, HMRC's boss tells MPs.

Biogen tops profit estimates as cost cuts take hold, Alzheimer's drug Leqembi launch picks up

Alzheimer's drug Leqembi brought in approximately $19 million in sales for the quarter, up from the $10 million the drug generated last year.

Former Boeing Manager Says Workers Mishandled Parts to Meet Deadlines

Merle Meyers, who left Boeing last year after a 30-year career, said he was speaking publicly about his experience because he loved the company “fiercely.”

US sanction threats against Chinese banks over Russia trade ties risk ‘gargantuan’ financial instability

Reports suggest US has discussed sanctions on some Chinese banks over their trade with Russia, but analysts say moves to remove China from the Swift interbank financial system could create a ‘huge problem’ for global trade.

Wanted: A CEO to Fix Boeing

The plane maker, which is searching for a new chief executive, is likely to consider a small number of people, including several former Boeing executives.

Goldman Sachs says escalating price war in China’s EV market could ensnare BYD, push sector into losses

Further discounts offered by carmakers in a price war in mainland China’s electric vehicle market could ensnare even the likes of top seller BYD, Goldman Sachs says.

Foot Locker debuts 'store of the future' as it looks to win back Wall Street's confidence

Foot Locker unveiled its "store of the future" concept that will inspire the revamping of 900 stores the sneaker retailer is planning over the next two years.

Who Stands to Gain from a TikTok Ban

The Senate has finally passed a law that could bar the video-sharing app in the U.S., leaving some tech giants in pole position to profit — or pounce.

Bird Flu Outbreak in Cattle May Have Begun Months Earlier Than Thought

A single spillover, from a bird to a cow, led to the infections, a review of genetic data has found.

Government scrapped tests on free childcare plan

The National Audit Office says a £35m pilot to test the expansion of free childcare in a few areas was cancelled.

Lloyds hit as banks compete for mortgage customers

The banking group's results showed it had made less money from loans and mortgages compared with last year.

High Borrowing Costs Have Some Democrats Urging Biden to Pressure the Fed

Polls show voters are angry about costs, like mortgages, and worried they will stay high if the president wins re-election.

More than 3 million Medicare patients could be eligible for coverage of Wegovy to reduce heart disease risks, study says

For the first time, some Medicare beneficiaries will be able to access Novo Nordisk's Wegovy without having to shoulder the total monthly price tag.

Fragments of Bird Flu Virus Discovered in Milk

The milk poses virtually no risk to consumers, experts said. But the finding suggests that the outbreak in dairy cows is wider than has been known.

Western protectionism will fail – China’s success isn’t down to subsidies

Complaints of Chinese overcapacity and dumping may be useful in justifying US, EU subsidies and trade barriers but China’s success is really due to its innovation and scale.

Meaty economic indicator? China’s distressed pig farmers eye turnaround

Chinese farmers are keeping the fewest pigs for breeding since 2020, raising hopes of sustained profitability after years of losses. But the turnaround may not speak to the broader economy, analysts say.

Nina Jankowicz Forms New Group to Defend Disinformation Research

The group intends to fight what its leader, Nina Jankowicz, and others have described as a coordinated campaign by conservatives and their allies to undermine researchers who study disinformation.

‘It Is Desolate’: China’s Glut of Unused Car Factories

Manufacturers like BYD, Tesla and Li Auto are cutting prices to move their electric cars. For gasoline-powered vehicles, the surplus of factories is even worse.

China’s durian output to quadruple in 2024, processing poised to permeate with demand ‘on a rapid rise’

Chinese-produced durian is set to be available to the public in July, with production from the tropical island of Hainan likely to reach 200 tonnes this year, although Thailand and Vietnam are set to remain the largest sources.

FTC Bans Worker Noncompete Clauses

The rule would prohibit companies from limiting their employees’ ability to work for rivals, a change that could increase competition and boost wages.

Pensioners' fears over paying income tax

Charities report heightened concern among pensioners who fear being dragged into paying income tax.

The women-only co-working spaces fighting to survive

Women-only co-working spaces are part of the new hybrid working landscape, but they divide opinion.

Brace for ‘third wave’ of China bond defaults amid high financing costs, slow growth and tighter state policies, S&P says

China could face a third wave of corporate bond defaults, induced by high financing costs, slow economic growth and tighter government policies, S&P analysts said. Local government financing vehicles may be the weakest link.

Tesla Earnings Report: Revenue Fell to $21.3 Billion, Adding to Strategy Concerns

The first-quarter results are likely to fuel worries that competitors will continue grabbing a bigger slice of a market dealing with slowing electric car sales.

China is running a full-court press for global arbitration clients. What’s the verdict so far?

As China works to sell itself as a viable destination for international firms to air their disputes through arbitration, more must be done for these efforts to meet with success, analysts and professionals say.

Howie Schwab, ESPN Researcher and Trivia Star, Dies at 63

He stepped out of his behind-the-scenes role in 2004 when he was cast as the ultimate sports know-it-all on the game show “Stump the Schwab.”

The Way Advisers Handle Your Retirement Money Is About to Change

More investment professionals will be required to act in their customers’ best interest when providing advice about their retirement money.

JetBlue shares tumble nearly 19% after airline lowers 2024 revenue outlook

JetBlue said second-quarter revenue would likely drop as much as 10.5% on the year.

General Motors raises 2024 guidance after big first-quarter earnings beat

GM's North American operations, driven by truck sales, were largely responsible for the company's first-quarter beat and guidance raise, the automaker said.

E.W. Scripps exploring sale of Black-culture broadcast network Bounce TV

E.W. Scripps has received inbound interest in its Black-culture network Bounce TV, CEO Adam Symson said in an exclusive CNBC interview.

Phyllis Pressman, Luxury Superstore Matriarch, Is Dead at 95

She started working at Barneys to be closer to her husband. Then, she became the architect of the Chelsea Passage, the home goods bazaar that helped make it an enticing destination.

Supreme Court Seems to Side With Starbucks’ Challenge to Labor Ruling

The case seeks to limit the National Labor Relations Board’s ability to obtain court intervention in labor cases.

G.M. Reports Big Jump in Profit on Gasoline Car Sales

General Motors has struggled with electric vehicles and in foreign markets but it is selling lots of combustion engine cars and trucks in North America.

Trump Set to Receive $1 Billion Extra Trump Media Shares

The former president is in line for a windfall after the stock price of Trump Media hit performance targets in its first few weeks of trading, raising the value of his already sizable stake.

Walmart-backed fintech One introduces buy now, pay later as it prepares bigger push into lending

One's expanding role at Walmart raises the possibility that the company could force Affirm and others out of some of the most coveted partnerships in retail.

PepsiCo earnings beat estimates but product recalls, weaker lower-income consumer hurt U.S. sales

PepsiCo's volume and sales growth were better in most international markets than in its North America markets.

In Silicon Valley, You Can Be Worth Billions and It’s Not Enough

Andreas Bechtolsheim, the first investor in Google, has an estimated $16 billion fortune. He recently settled charges that he engaged in insider trading for a profit of $415,726.

Baltimore Says Owner of Ship That Hit Key Bridge Was Negligent

The owner and manager of the cargo ship that downed the Francis Scott Key Bridge asked a judge to exonerate them from liability. The city argued otherwise.

China, Europe can look past disputes to cultivate food trade, EU agriculture commissioner says

Though trade ties have taken a hit in other areas, the EU’s agriculture commissioner says a stronger relationship between China and Europe can and should exist in food and farming products.

China’s ‘extreme’ national security focus a drag on business, US trade group says

A US business lobby has issued a report asking for clear guidelines on what activity is acceptable under China’s new security laws, as well as other suggestions for improving investor confidence.

Donors Stay Largely Silent Amid New Wave of Campus Protests

Robert Kraft, an alumnus of Columbia, suggested he would withhold donations to the school. Other alumni are keeping quiet.

‘Pay Later’ Lenders Have an Issue With Credit Bureaus

Firms like Experian and TransUnion say it is time for “buy now, pay later” loans to appear on consumer credit reports. The lenders aren’t ready to sign on.

Abortion Data Wars: States and Cities Debate How Much Information to Collect

Some states with Republican-controlled legislatures want more data, while some controlled by Democrats want less, fearing it could be used to target patients or providers.

Cross-border synergy with China can help US more quickly adopt EVs

Despite US fears about an overcapacity in Chinese green teach, China’s market share of solar modules and electric vehicles is smaller than that of other competitors. “Cooperative competition” between manufacturers can help both countries synergize their green industry transitions.

Slide Over, Auntie: Young Chinese Find Tasty Meals in Senior Canteens

The community canteens, offering huge plates for a dollar or two, have become popular among penny-pinching young professionals.

How robots are taking over warehouse work

At Ocado's newest warehouse robotic arms are helping to pack customer orders.

Canton Fair: overseas buyers pour in, leaving Chinese exporters to ask ‘why so many foreigners?’

Foreign buyers have returned to China’s largest trade exhibition, drawn by the array of new energy vehicles and other green products on offer at the Canton Fair.

FTC Sues to Block $8.5 Billion Tapestry-Capri Merger

The deal between Coach’s owner, Tapestry, and the parent of Michael Kors, Capri Holdings, is intended to create a U.S. luxury group to compete with the European industry giants.

FTC sues to block Coach parent Tapestry's acquisition of Capri Holdings

The FTC argued the combination of Tapesty and Capri would hurt consumers and workers.

TikTok Faces E.U. Inquiry Over ‘Addictive’ Features

European officials threatened to fine TikTok and force it to remove some features, the latest regulatory challenge for the Chinese-owned social media app.

Express files for bankruptcy, plans to close nearly 100 stores as investor group looks to save the brand

Longtime mall retailer Express filed for bankruptcy and plans to close nearly 100 stores as an investor group looks to save it from extinction.

Boeing expects slower production increase of 787 Dreamliner because of parts shortages

Boeing reports quarterly results before the market opens on Wednesday.

What investors should know about the UAW's organizing drive of VW

The historic vote could have wide-ranging impacts on other automakers, organized labor and the overall U.S. automotive industry.

How Cable News Covered Day 1 of Trump’s Criminal Trial

TV networks began the challenging assignment on Monday of covering former President Trump’s trial without the luxury of cameras inside the courtroom.

Luxury real estate prices just hit an all-time record

Luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.

Disney technology executive Aaron LaBerge to leave company for personal reasons

Disney Entertainment CTO Aaron LaBerge is leaving the company for personal reasons, according to a company memo. A search for his replacement is underway.

Delta Air Lines gives staff another 5% raise, hikes starting wages to $19 an hour

Delta is the country's most profitable airline and has repeatedly lifted staff pay.

China’s campaign to win investment wavers as overseas capital plays waiting game

Despite its attempts to woo back foreign investment, China has yet to see a hoped-for return of overseas capital as enterprises express hesitation to jump back into the fray.

Tesla’s closest Chinese rival, Li Auto, slashes prices as EV discount war spreads to premium market

Li Auto , Tesla’s nearest rival in mainland China, reduced the price of all its vehicles by up to 5.7 per cent, just a day after the US carmaker offered discounts to local customers amid an escalating discount war.

How can China remedy deflation risks without ditching long-held economic strategy?

Beijing’s prudent monetary moves and an emphasis on restructuring local government debt have sparked debate over how long it will take policymakers to ‘walk it off’.

How Chinese firms are using Mexico as a backdoor to the US

Chinese firms are racing to set up factories in Mexico to bypass US tariffs and sanctions.

China trade body vows legal action over ‘unreasonable’ US Section 301 probe into Chinese shipbuilders, maritime firms

China’s trade promotion body CCPIT calls move ‘discriminatory’, blames ‘lack of competitiveness’ for US shipping industry downturn.

China’s king-of-the-hill status shaky as offshore exploration diversifies rare earth supply chain

With more countries searching for – and finding – stores of rare earth minerals, China’s former near-monopolist role in the trade of the metals is gradually being eroded.

Shining example: how China is propelling gold’s record-breaking rally

Wars in the Middle East and Ukraine, and continuing lower US interest rates have burnished gold’s billing as an investment, but it is the unrelenting Chinese demand that is juicing the rally.

Former China central bank official warns against miscategorising ‘virtual economy’

China must emphasise modern services in its push for new productive forces, Sheng Songcheng says, flagging the need for a hi-tech, high-quality service sector.

Can AI help solve Japan’s labour shortages?

Japan is seeing if artificial intelligence can tackle its increasing shortfall of workers.

With China’s EV sector at top speed, Beijing eyes ‘economical’ hydrogen-power vehicles amid green energy transition

China is the world’s top producer and consumer of electric vehicles, and Beijing is now seeking the lead in hydrogen-powered vehicles.

Why Germany has little choice but to continue to cosy up to China

The ugly truth is that the power of Germany’s economy is heavily connected to its business relationship with China and, with that, Scholz’s political fortunes

China’s drought-hit Yunnan braced for ‘worst case scenario’ as key grain, power, aluminium hub faces worst dry spell in 60 years

Rainfall in the southwest province of Yunnan, which is one of China’s leading hydropower producers, fell by 42.3 per cent compared to normal levels this year.

China penalises US acid imports in retaliatory move as trade relations grow caustic

China has revealed hefty penalties on imports from the US of an acid used as a preservative as trade relations between the two countries appear likely to return to an outwardly acrimonious track.

Li Auto takes on Tesla’s Model Y by pricing new L6 SUV deliberately lower as cutthroat discounts persist in China

Beijing-based Li Auto has priced the new L6 SUV from 249,800 yuan (US$34,509) onwards, 5 per cent cheaper than Tesla’s popular Model Y.

China-Middle East commercial ties enjoying a ‘renaissance’ as politics, trade spats strengthen shift from West, consultancy says

Commercial ties between China and the Middle East are enjoying a revival as politics, energy transition and supply-chain upheavals create opportunities for Chinese exporters, according to management consultancy Oliver Wyman.

China’s middle class a ‘tidal wave’ investors are failing to appreciate: Primavera Capital founder

It is only a matter of time before the currently depressed market stages a rebound, according to Fred Hu of private-equity firm Primavera Capital.

Why a deluge of Chinese-made drugs is hard to curb

Thousands of Chinese companies are making synthetic opioids and shipping them around the world.

IMF: China’s bonds, stimulus will buoy world’s No 2 economy despite property crisis

Asia official with Washington-based agency points to the PBOC’s policy moves, as well as China’s infrastructure spending, as economic bellwethers in the face of headwinds.

China steels itself for new front in trade war after US proposes tariffs on metals

The US’ proposed tripling of tariffs on Chinese steel imports would be the first move in a tit-for-tat struggle that would expand the bilateral trade war, analysts said – and fuel grumblings over industrial overcapacity.

Canton Fair: Chinese Premier Li Qiang solicits views from ‘ambassadors of friendship’ as external tensions grow

Premier Li Qiang told overseas buyers at the Canton Fair that China’s development will inject more stability into the world economy and global trade as it seeks to shore up confidence and retain and entice investors.

China unloads more US Treasury bills as odds of Fed rate cuts grow slim

China has continued to sell its holdings in US debt as the likelihood of expected interest rate cuts grows more remote and Beijing looks to widen the diversity of its foreign asset pool.

'AI helps me to make wine for younger drinkers'

The winemakers using artificial intelligence to help them grow grapes and blend their wines.

China preps for tourism boom on May Day holiday as early bookings rocket past pre-pandemic levels

China’s coming May Day holiday already has the makings of a major tourism rush, with early bookings exceeding pre-pandemic levels and the travel boom likely to fuel a much-desired round of consumption.

How sustainability is driving China’s next economic transformation

Despite some progress, the Chinese economy still faces problems but these can be overcome with targeted stimulus measures and a focus on sustainable development. By framing China as a threat, the US risks impeding global sustainability efforts.

China’s economy seeing ‘seismic shifts’ and imbalances like nothing Beijing predicted, senior economist says

Prominent government adviser Liu Yuanchun says the immediate future will be marked by disequilibrium, and more non-economic risks are emerging than economic ones, after first-quarter GDP growth impresses.

Dongfeng, Chery lead Chinese carmakers in eying Europe factories amid brutal price war at home

Carmakers like Dongfeng, Chery and BYD are eyeing production sites in Europe to assemble the next generation of electric vehicles as a foil against the EU’s protectionist tariffs as a brutal price war at home drives more producers offshore in search of fresh markets.

China rallies aviation brainpower to get widebody C929 off the ground, amp up Airbus and Boeing competition

China’s state-owned aircraft manufacturer held a conference ahead of a week-long seminar to seek progress with its C929 passenger jet, which is due to rival the Airbus A350 and Boeing 787 models for long-haul routes.

Million-dollar jobs, travel perks and racy parties vanish as China’s research pullback sends chills through banks and brokers

The cutbacks, described by people familiar with the matter, come as a prolonged market slump reduces trading commissions and authorities tighten limits around what research analysts are allowed to publish.

China plays up Alibaba, Shein’s role in promoting cross-border e-commerce at ‘digital silk road’ forum, as exports rise

At the Digital Silk Road Development Forum in Xian, Alibaba and Shein were praised for helping advance the country’s booming cross-border e-commerce sector.

China GDP: first-quarter growth ‘smashes’ expectations, but has Beijing put too many eggs in its basket?

China’s widely watched gross domestic product (GDP) figure beat expectations in the first three months of the year, but retail sales growth dropped in March and property investment fell by 9.5 per cent in the first quarter.

Canton Fair: China’s new energy exporters abuzz as orders swell, threat of trade curbs looms

Buyers and exhibitors of new energy equipment at the Canton Fair are showing boundless optimism as orders rise, but measures likely to be taken against the industry by the US and EU could spoil the fun.

China’s GDP growth beat expectations – so why are analysts and business groups still downbeat?

While first-quarter GDP data shows China is on course to meet its full-year economic growth target, policymakers are still being called on to bolster demand and introduce stronger policy support.

IMF keeps China’s 2024 GDP growth estimate unchanged on ‘troubled property sector’

After the release of China’s first-quarter GDP growth, International Monetary Fund says the lack of a ‘comprehensive response’ could lead to less economic growth than Beijing is hoping for this year.

Fitch cuts outlook for China’s state-owned banks from stable to negative citing Beijing’s limited capacity to support them

The move by Fitch Ratings comes a week after it cut its projection for the country’s sovereign credit rating, reflecting pessimism in the world’s second largest economy and concerns over Beijing’s capacity to support its biggest lenders.

China GDP: 5.3% first-quarter rise better than expected as recovery regains momentum

China’s widely watched gross domestic product (GDP) figure beat expectations in the first quarter after rising by 5.3 per cent year on year despite ongoing challenges.

China’s energy trade with Middle East set to surge since Beijing brokered last year’s Iran-Saudi deal, UBS says

Energy-related trade between China and the Middle East is likely to increase significantly and reshape the sector globally in the wake of the Saudi-Iran peace deal brokered by China last year, according to Swiss bank UBS.

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