Technical factors, like the unwinding of the ‘Asia ex-China’ trade, seem to be driving Hong Kong’s stock rally, as opposed to underlying fundamentals. In the longer run, the narrative around China’s economy and markets has to brighten considerably if Hong Kong stocks are to continue their recovery.

How the computer games industry is embracing AI

Developing computer games can be wildly expensive so some hope that AI can cut the cost.

Amgen scraps experimental weight loss pill, moves forward with injection

Amgen is among several drugmakers racing to join the red-hot weight loss drug space dominated by Novo Nordisk and Eli Lilly.

China wants ‘patient capital’ to fund its tech drive. Will slow and steady win the race?

In an official communique, China’s Politburo said ‘patient capital’ is expected to pitch in as the country moves towards a tech-driven growth model, showing a much-needed focus on the long term, analysts say.

How progress, not just profit, drives China’s approach to industry

Rather than being out to undermine economies around the world, China’s economic policy is based on foresight, efficiency and commitment to scale. Decoupling would not only disrupt supply chains but increase the cost of the global energy transition amid our ongoing climate struggle.

Campus Protests Give Russia, China and Iran Fuel to Exploit U.S. Divide

America’s adversaries have mounted online campaigns to amplify the social and political conflicts over Gaza flaring at universities, researchers say.

Wayfair shares surge after furniture retailer cuts losses by more than $100 million

Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.

Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt

Peloton announced Thursday that CEO Barry McCarthy will be stepping down just over two years after he took over from founder John Foley.

Sony and Apollo send letter expressing interest in $26 billion Paramount buyout as company mulls Skydance bid

Sony and Apollo showed formal interest in a Paramount Global buyout as Paramount's special committee is prepared to give its recommendation to Skydance.

Moderna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold

The company reiterated its full-year 2024 sales guidance of roughly $4 billion, which includes revenue from the expected launch of its RSV vaccine.

Sony, Apollo Express Interest in Buying Paramount

Paramount has been exploring a potential deal for months, talking to suitors including Skydance, producer of “Top Gun: Maverick.”

Peloton CEO Barry McCarthy Steps Down as Company Cuts 15% of Workers

Barry McCarthy took over as C.E.O. in February 2022 to revive Peloton from its late-pandemic slump, but the company has struggled to become profitable.

The Judge Deciding Google’s Landmark Antitrust Case

Amit P. Mehta, a judge in U.S. District Court for the District of Columbia, will issue a landmark antitrust ruling.

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The global economy has proved resilient and inflation has declined, but any widening of the conflict in the Middle East could increase price pressures and dampen growth.

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Fed officials are watching labor trends as they contemplate when to cut rates. But different measures are telling different stories.

North Carolina Triad Tries to Reinvent Its Economy

North Carolina’s Triad was built on tobacco, textiles and furniture. Now it’s trying to forge a new economy from more highly skilled manufacturing.

Universal Music Artists Will Return to TikTok

The two companies reached a new licensing deal, ending a three-month stalemate that kept some of pop’s biggest stars off the platform.

In Asia, US dollar’s growing strength gives rise to stability concerns, suspected rate intervention

Analysts say China’s central bank, with an eye on the yuan’s stability, could let it weaken gradually, but such a move ‘could backfire to some degree’.

Walnuts Recalled From Whole Foods After E. Coli Outbreak

The outbreak linked to shelled organic walnuts distributed by Gibson Farms has sickened 12 people and hospitalized seven in California and Washington State, federal officials said.

Dave & Buster’s to Allow Betting on Arcade Games

A software company announced it had teamed up with the arcade and restaurant chain to allow betting in the future through the Dave & Buster’s app.

Pasteurized Dairy Foods Free of Live Bird Flu, Federal Tests Confirm

But the scope of the outbreak among cattle remains uncertain, and little human testing has been done.

Republicans Call on NPR’s Chief, Katherine Maher, to Testify on Bias

Katherine Maher, the radio network’s new chief executive, has been in the spotlight since an editor published an essay accusing the organization of leftward-leaning bias.

What Will It Take for the Fed to Lower Interest Rates?

Stubbornly high inflation has scrambled the central bank’s outlook. Wall Street is now shifting focus to Friday’s jobs report for clues on its next move.

China property: new stimulus is on the way as Politburo pledges to cut housing inventory, say analysts

A new wave of property stimulus measures is brewing that should fuel a recovery in market sentiment across China as the country’s top decision-makers pledged to tackle housing inventories, according to analysts.

Carvana shares spike 30% as used car retailer posts record first quarter

Carvana reported record first-quarter results Wednesday that beat Wall Street's top- and bottom-line earnings expectations for the online used car retailer.

China’s C919 passes ‘deep level’ post-flight safety tests, ramps up rivalry with embattled Boeing

A crew of more than 60 checked a China Eastern Airlines C919 during four days of tests in Shanghai.

Horse Racing Deaths Raise Questions About Sport’s Future

The breakdown of 12 horses in the days surrounding the celebrated race a year ago has led to existential questions about the sport and its future.

Navigating the Fine Line Between Art and Luxury

The boundaries between art, fashion and luxury seem to be melting away. That’s great for brands, but what about artists — and the art?

To call the likes of China and India ‘developing’ is, frankly, insulting

Given the prosperity and world-leading innovations of so-called emerging economies, from China and India to South Korea and Qatar, the ‘developing’ label is outmoded, outdated and patronising.

Johnson & Johnson Proposes $6.5 Billion in New Talc Settlement Offer

The offer is the company’s third attempt to resolve tens of thousands of claims that its baby powder caused ovarian cancer and mesothelioma.

Hong Kong stocks enter bull market: banks, insurers gain after Fed rate decision as China’s policy support adds to cheer

Banking and insurance stocks boosted the Hang Seng Index close to bull market territory with the overall sentiment remaining upbeat following Beijing’s recent efforts to prop up stocks.

As China seeks new economic growth, is it time to unleash the power of the ‘she-conomy’?

A growing ‘she-conomy’ in China is leading to the working-age female population playing a leading role in personal spending and family purchases amid Beijing’s shift away from an investment-led growth model.

The insect farmers turning to AI to help lower costs

Makers of insect-based animal feed hope to be able to compete with soybeans on price.

In Latest Stunt, Airbnb Lists the ‘Up’ House. It Floats.

The company announced a new category of outlandish stays in partnership with brands and celebrities, building on the success of gimmicks like the Barbie Malibu DreamHouse.

Klobuchar Asks Regulators to Investigate MultiPlan Over Health Care Pricing

A data analytics firm has helped big health insurers cut payments to doctors, raising concerns about possible price fixing.

US concern about China’s overcapacity is a non-issue, just like in 2009

The narrative around Chinese overcapacity sounds similar to that during the global financial crisis when, as a result of its massive stimulus package, China became the world’s largest exporter amid weak demand. Today, China’s green capacity should be viewed within the broader framework of climate change cooperation.

Giant Pandas Are Returning to San Diego, China Announces

“Panda diplomacy” has represented an area of cooperation between the United States and China despite tension over weighty issues of trade and national security.

Viking shares rise 8% after cruise line operator's market debut

The company's initial public offering coincides with a strong rebound in cruise bookings.

Johnson & Johnson to pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.

The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management.

CVS shares plummet as health company slashes profit outlook on higher medical costs

CVS and other insurers have seen medical costs spike as many Medicare Advantage patients return to hospitals to undergo procedures they delayed during Covid.

Pfizer beats earnings estimates, raises outlook on cost cuts and smaller-than-feared drop in Covid drug sales

The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.

NASCAR and Its Race Teams Fight Over the Sport’s Future

Team owners said they needed to share in racing’s financial success, putting them at odds with the privately held business that runs the sport.

UnitedHealth’s CEO Slammed Over Cyberattack

Several lawmakers questioned whether the company had become so large — with tentacles in every aspect of the nation’s medical care — that the effects of the hack were outsize.

What Fed Rate Moves Mean for Mortgages, Credit Cards and Student Loans

Higher rates benefit those who can save, but for borrowers falling rates would reduce bills on credit cards, home equity loans and other forms of debt.

Bally Sports regional networks go dark for Comcast cable customers

Carriage negotiations between Comcast and Diamond Sports broke down, leaving cable customers without access to Bally Sports regional networks during MLB season.

Truth Social Co-Founder Says Trump Nearly Derailed Deal That Led to Market Windfall

Andy Litinsky, who helped start the former president’s social media company, revealed Mr. Trump’s last-minute doubts about an agreement that made them all very wealthy.

U.S. Imposes Sanctions on Chinese Companies for Aiding Russia’s War Effort

The penalties came after top Biden administration officials warned China not to help Moscow restock its arsenal to attack Ukraine.

Zwirner Anchors Los Angeles Art Neighborhood With New Gallery

Its flagship will open with a 30th-anniversary exhibition featuring works by all of the gallery’s 80 artists.

NYCB shares jump 30% after CEO gives two-year plan for 'clear path to profitability'

CEO Joseph Otting took over NYCB in April after an investor group led by former Treasury Secretary Steven Mnuchin injected more than $1 billion into the lender.

Job Openings and Hiring Are at a 3-Year Ebb

March data showed a cooling labor market, but layoffs remain low. The overall trend is likely to be welcomed by Federal Reserve policymakers.

Starbucks shares sink 12% as coffee chain slashes 2024 forecast amid same-store sales drag

Across all regions, Starbucks reported shrinking same-store sales and falling traffic.

Yum Brands earnings miss estimates as Pizza Hut, KFC sales disappoint

KFC and Pizza Hut reported same-store sales declines, while Taco Bell's same-store sales rose just 1%.

China halves rice-growing cycle in deserts of Xinjiang, opening new front in food security drive

Scientists have successfully grown rice in the harsh deserts of China’s Xinjiang region in half the time compared to conventional farming methods, a major step in the country’s campaign to ensure food security.

To train car dealers on EVs and other topics, Ford turns to gamification and AI-powered education

Dealership employees, who are employed outside Ford by dealers, are crucial for the company's sales, performance and customer engagement and satisfaction.

Chinese women are teaming up with strangers to save money

They are finding new ways to cut back on household spending as China’s economy loses steam.

China’s job-hungry youth offered lifeline by South Korean university with its ‘exemplary employment-linked model’

A South Korean university is launching a new associate degree programme exclusively for international students as it battles labour and population issues, with some also faced by China.

Tatti Lashes: The school friends who built a beauty empire

Charlotte Tiplady and Elliot Barton explain how together they built up their Tatti Lashes beauty empire from Liverpool.

China has yet to join the ‘rich country’ club. Has the middle-income trap been sprung?

Predictions China would have already joined the group of high-income nations have yet to bear fruit. Is it still possible to break through the middle-income ceiling – and is it still an important benchmark?

NBC Sports could buy back rights to iconic theme song 'Roundball Rock' if it airs NBA games again, composer John Tesh says

NBC Sports can license the rights to John Tesh's famous "Roundball Rock" theme song if it secures a new NBA media package, Tesh said in an e-mail.

FTC challenges 'junk' patents held by 10 drugmakers, including for Novo Nordisk's Ozempic

The agency sent letters to Novo Nordisk, AstraZeneca, Boehringer Ingelheim, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals, among others.

McDonald’s earnings miss estimates as diners pull back, Middle East boycotts hit sales

McDonald's shares have fallen 7.5% over the last year, dragging its market value down to $197 billion.

Eli Lilly beats on quarterly profit, hikes full-year guidance on strong sales of Zepbound, Mounjaro

Zepbound reported $517.4 million in sales for the quarter, even as most doses of the drug slipped into shortages in the U.S.

Walmart to shutter health centers, virtual care service in latest failed push into health care

Walmart said clinics are not a sustainable business model due to a challenging reimbursement environment for primary care and increasing operating costs.

Home prices soar even higher in February, despite higher mortgage rates, says S&P Case-Shiller

It marked another increase after the prior month's annual gain of 6%, and the fastest rate of price growth since November 2022.

Coca-Cola tops earnings estimates, hikes revenue outlook on higher prices

Shares of Coke have fallen 3.5% over the last year, dragging the company's market value down to $267 billion.

China’s exports to Mexico are getting heavier tariffs – is it a sign of more to come?

With new tariffs being imposed by Mexico on most Chinese imports, observers and analysts disagree on whether stricter measures are being considered – but most say pressure from the US is at play.

China, South Korea vie for advanced shipbuilding orders as battle of the supertankers heats up

QatarEnergy will pay China State Shipbuilding Corporation billions of US dollars for 18 tankers in a deal hailed as the industry’s biggest shipbuilding contract ever.

How China’s third plenums have reshaped its economy – and what to expect this year

China’s Communist Party will hold one of its most-watched meetings in July, as analysts predict the political body will lay out reforms to aid in the country’s economic recovery.

Outlook ‘significantly brighter’ for Hong Kong stocks, as US$5 trillion market attracts global investors rotating out of US, Japanese shares

Hong Kong stocks emerged as the best-performing key market globally in April, after funds sought bargains by shifting out of expensive US and Japanese equities and as China’s growth shows more signs of stabilising.

China’s private pension push marred by weak financial literacy, as ‘people still have no idea’

After a stretch of trials in select Chinese cities, there is rising urgency to rapidly expand use of the underperforming retirement accounts as demographic challenges mount.

China’s factory activity grows at slower pace in April as order, price pressure undercuts economic recovery

China’s official manufacturing purchasing managers’ index (PMI) remained in expansion territory for a second consecutive month in April, although the pace slowed as officials admitted that manufacturers are facing higher costs.

Chery’s Jetour unit plans right-hand drive cars to expand to Malaysia and Indonesia as competition escalates in China’s automotive market

Jetour targets markets like Malaysia and Indonesia with right-hand drive models as globalisation drive accelerates.

China should bail on US bonds even faster, scholar says, as bilateral tensions and anxieties mount

A highly placed scholar is encouraging China to offload more of its holdings in Treasuries as overseas assets become a riskier proposition thanks to erratic geopolitical shifts.

BYD’s first-quarter profit, deliveries slump as world’s largest EV maker reels from a bruising price war in China

The Warren Buffett-backed carmaker posted first-quarter net profit of 4.57 billion yuan (US$631 million), 47.3 per cent lower than the quarter ended December 2023.

C919 mega-purchase by China’s flagship airline lifts home-grown jet in competition with Boeing

New deal adds years of additional business for China’s state-owned manufacturer and may boost investments while further fuelling purchases of the narrowbody plane.

China’s consumers seek security in ‘the only safe asset’ as gold purchases remain strong

Gold purchases in China rose by 5.9 per cent in the first quarter compared with the same period in 2023, as consumers seek security in ‘the only safe asset’, analysts said.

State Street says Asia-Pacific institutional investors keen on private assets even as inflation, elevated borrowing costs subdue appetite

High inflation and elevated borrowing costs are dampening the attractiveness of leveraged private-market investments, but institutional investors across Asia-Pacific are still determined to increase their allocations in private assets, State Street says.

Swarovski moves up from crystals to lab-grown diamonds as CEO Alexis Nasard plays ‘the long game’ to get over China’s consumption slowdown

Austrian crystal maker Swarovski has launched a lab-grown diamonds collection in China, in a sign that it has confidence in its second-largest market by sales despite some economic turbulence.

China is still a developing country despite what US leaders might say

In recent years, American politicians have been seeking to challenge China’s status as a developing country Despite building a “moderately prosperous society”, the Chinese economy is still not considered high-income, and parts of the country still face unbalanced development.

Overcapacity or ‘over anxiety’? China hits back at Western claims of dumping

State news agency rejects allegations that Chinese EV firms are exporting a glut of electric vehicles.

Chengdu becomes latest major Chinese city to unveil housing market support measures, scraps home purchase qualifications

The measures effective from Monday range from the removal of restrictions on homebuyers to support for the funding needs of developers.

China jobs: anxious young jobseekers ‘stuck in a rat race’, forced to ‘lie flat’ as unemployment remains a headache for Beijing

Creating enough jobs for its young people remains a daunting challenge for Beijing, with the key private sector struggling to shake off scars of the coronavirus pandemic.

Someday soon China might dominate the hydrogen supply chain too

EU and US manufacturers already complaining of Chinese competition in solar power and electric vehicles won’t like China’s hydrogen policy. As it moves to produce hydrogen using renewable energy, this could become an important part of the world’s low-carbon future.

Premier Li Qiang meets Elon Musk in Beijing, raising hopes of Tesla’s autonomous driving push

Billionaire Elon Musk flew into Beijing on Sunday, meeting Premier Li Qiang and hoping to bring Tesla’s autonomous driving technology to China amid intensified competition with local electric vehicle makers.

China EV price war to worsen as market share takes priority over profit, hastening demise of smaller players

China’s automotive sector braces for an escalating price war, and the intensified scramble for market share could hasten the closure of unprofitable laggards.

China’s drive for tech progress stifled by ‘title-driven’ research approach

China is demanding more and better research to unearth the technology of tomorrow – but a research culture based around titles and participation in certain programmes is limiting the potential of its scientists.

China’s international flights set to take off, buoyed by May Day holiday, but US travel suffering delays

Air China will start to add international flights from Sunday, while bookings ahead of May Day holiday have surged, but flights to US are having a sluggish recovery.

Like the US and EU, China uses subsidies. It just does it more effectively

China’s subsidies have been more effective than in most parts of the world because they are an intrinsic part of a distinct economic model. Rather than targeting China, the US and Europe should examine the effectiveness of their own economic strategies.

China’s exporters shun the yuan, embrace alternatives as depreciation fears build

China’s yuan has lost more value against the US dollar as interest rate cuts have yet to materialise, leading exporters to find whatever alternative assets they can until exchange differentials subside.

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.

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