China Financial News

A report by the American Chamber of Commerce in Shanghai has found that U.S. companies in China are seeing record-low profits, with business confidence at an all-time low amid U.S.-China tensions and a slowing Chinese economy

The COVID-19 pandemic and Russia's invasion of Ukraine in 2022 are two examples of recent global events that have caused higher gas prices. According to Patrick DeHaan, head of petroleum analysis at GasBuddy, the market is coming into a better sense of balance. So it certainly is good news for the incumbent party, potentially, that gas prices are falling, though he expects there will continue to be a lot of noise from politicians on both sides of the aisle on this issue. Wednesday saw the national average price of gasoline drop to about $3.25 per gallon from $3.31 per week and $3.45 per month. According to DeHaan, the price drop is normal for the early fall. Also Read: US Inflation Rate: Which cities are facing the highest and lowest costs?

bullion prices. The gains were triggered by a 25 bps rate cut by the European Central Bank (ECB). The October gold futures on the MCX were trading at Rs 72,571 around 7:20 pm while the December Silver contract was hovering at Rs 85,935 per kg around this time.

In its half-year results published today (12 September), the trust said the NAV of 199.1p as of 30 June 2024 was an «all-time high» and noted it surpassed the 200p threshold after the period. According to data from the Association of Investment Companies, the NAV is currently sitting at 205.1p. Emerging markets ex-China ETFs enjoy moment in the sun as investors snub China over 2023 Similarly, IGC's share price rose 4.3% to 180.5p in the first six months of the year. However, the trust's board highlighted its discount/premium to NAV was «relatively volatile» over the period, rang...

General Motors and Hyundai Motor are exploring a partnership that could mean savings on items like steel and electric-vehicle battery materials or even result in the joint development and production of vehicles, the companies said Thursday. The American and Korean automakers are looking for additional scale as they navigate a costly transition from internal combustion engines to EVs.

India, as numerous empty containers have been sent to China to accommodate a surge in exports aimed at circumventing the new duties. The Biden administration's plan to impose higher tariffs on a range of Chinese products— including steel, solar cells, lithium-ion batteries, electric vehicles, and medical supplies—will be phased in from this year through 2026. In response, Chinese exporters have been front-loading their shipments to the U.S., even sending empty containers to China to be filled and dispatched before the tariffs take effect. The container shortage is expected to impact India's trade figures for August and September, as exporters struggle to find containers for their goods amid weak global demand. Although container rates have begun to decrease following a recent spike, exporters continue to face challenges due to retaliatory tariffs on Chinese goods and complications arising from the Red Sea crisis. This crisis has led to shipping lines bypassing several Indian ports due to longer voyage times and increased route lengths, which in turn affects container availability.

Harmanpreet Singh scored a brace as defending champions India beat Korea 3-1 to register their fourth consecutive win at the Hero Asian Champions Trophy here on Thursday. Paris Olympics bronze medallist India had defeated China 3-0, Japan 5-0 before thrashing last year's runner-up Malaysia 8-1. Already assured of a semifinal berth, India will play arch-rivals Pakistan on Saturday in their last league match in the six-team competition. The top four teams from the league stages will qualify for the semifinals scheduled on Monday, while the final will be played next Tuesday.

India's top electric vehicle maker, Tata Motors, is luring consumers with free charging and steep discounts, while rival MG Motor has launched its first battery rental plan, in strategies aimed at propping up sales of the clean cars. Use of electric vehicles (EVs) has grown rapidly in recent years to account for 2% of India's annual sales of 4.2 million cars, but sales growth is now faltering, which analysts blame on high prices and lack of charging facilities. «We want to make electric vehicles affordable,» Satinder Singh Bajwa, chief commercial officer of MG Motor, said at an event to launch the firm's new EV with a battery rental service, the world's first of its kind.

BEIJING—The U.S. and Chinese militaries are taking tentative steps to re-engage diplomatically after a two-year freeze in relations, seeking to dial back the risk of confrontation while tensions simmer over Beijing’s activities in the South China Sea and its support of Russia. Jump-starting talks between military leaders has been a priority of the Biden administration, but one that has previously faced stiff resistance in Beijing.

₹750 crore, or 25% of Ather’s fresh issue, is earmarked for research and development (R&D), which is comparable to Hero’s FY24 R&D budget of ₹826 crore, or around 2% of its revenue. Read this | With Rizta, Ather looks to bond better with family scooter market The other objective of the issue is the capital expenditure of ₹927 crore for setting up a new plant in Maharashtra with initial capacity of 500,000 units. The existing capacity at the Tamil Nadu plant is about 400,000 units, though its capacity utilization is only around 30%.

PricewaterhouseCoopers (PwC) has announced a major restructuring, resulting in the layoff of approximately 1,800 employees in the United States. This is PwC's first major workforce reduction since 2009, affecting around 2.5% of its US staff. Roles ranging from associates to managing directors in business services, audit, and tax are impacted, a WSJ report stated.

Reckitt Benckiser designed products and marketing to lure Indian men to its Durex brand. Now, it is pushing a growth strategy by betting on women and rural consumers. India last year surpassed China to become the world's most populous nation, but still fares poorly on the use of contraceptives. India's government estimates only around 10% of men use condoms and for women, sterilization remains the popular form of contraception. Social stigma surrounding sex — which some say stems from Victorian social norms established during British colonization — has for decades marginalized female pleasure in the Indian society.

Arnab Das, Global Macro Strategist, Invesco, says all the world's big oil consumers are slowing down in a somewhat synchronized fashion, causing some concerns about the demand side of the market. However, a big collapse in the price of oil is unlikely. The big surges and the big collapses in the price of oil tend to come from the supply side rather than the demand-side which in the major economies tends to be a more gradual process than supply shocks. The US CPI numbers increased 0.2% for the month, in line with the Dow Jones consensus that sets the stage for an expected quarter percent point rate cut from the Federal Reserve in the coming week. Are there any chances for an outsized rate cut given the recessionary fears are back in the US? Arnab Das: Yes, we have and I have been in the 25 bps camp all along; 50 basis points are possible, but is unlikely at this stage. The market was pricing more like 30 bps before the CPI. Although the headline CPI number is fine, the core number is not as good as hoped, and core PCE will maintain that story. We are looking at a 25 bps cut. The Fed has kind of indicated and it is correct to say that it has shifted the focus of its dual mandate from inflation to jobs and the labour market, but it has to keep one eye on inflation and that points to a 25 bps cut.

Air conditioning company Carrier wants to repeat its China playbook in India by adopting a similar strategy, according to a top executive. “Our strategy is to be in India for the long run,” said Saif Siddiqui, president-APAC at Carrier. “We have been in India for 40 years. We have been in China for many, many decades. We have localised to a large extent in China. In fact, the playbook we are talking in India, we have lived it in China in terms of supplier ecosystem localisation and investing in both R&D and manufacturing to get ourselves the local market.” The Florida-based company plans to invest $800 million in India in the next five years, topping up a $1 billion investment made over the past decade, chief executive officer David Gitlin had told ET in October.

United Nations Security Council seats for African states and one seat to be rotated among small island developing states, U.S. Ambassador to the U.N. Linda Thomas-Greenfield will announce on Thursday. The move comes as the U.S. seeks to repair ties with Africa, where many are unhappy about Washington's support for Israel's war in Gaza, and deepen relations with Pacific Islands nations important to countering Chinese influence in the region. Thomas-Greenfield told Reuters she hopes the announcement will «move this agenda forward in a way that we can achieve Security Council reform at some point in the future,» describing it as part of U.S. President Joe Biden's legacy.

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sonobuoys to India. This sale aims to enhance India's anti-submarine warfare capabilities, particularly through the use of MH-60R helicopters. Sonobuoys are air-launched sensors that relay underwater sounds to processors, assisting in anti-submarine warfare operations. According to the Defence Security Cooperation Agency, «The proposed sale will improve India's capability to meet current and future threats by enhancing its capacity to conduct anti-submarine warfare operations from its MH-60R helicopters. India will have no difficulty absorbing this equipment into its armed forces.» India's request included AN/SSQ-53O, AN/SSQ-62F, and AN/SSQ-36 sonobuoys, amounting to an estimated cost of $52.8 million. Congress has 30 days to review the sale as per the Arms Export Control Act.

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Trump should take over in the event that he loses the next presidential election are in the minority. One in seven Americans, according to a PRRI poll, believe that attempts should be made to alter the results of the 2024 election, even by undemocratic means, if Donald Trump is not confirmed as the victor. Republicans are more in favor of this approach, with many of them prepared to forgo democratic procedures in order to guarantee the election of the «rightful leader,» as per the reports of MSN.

Pierre Poilievre, the leader of the Conservative Party and the current favourite to win the next election, attacked former central banker Mark Carney for agreeing to help Justin Trudeau on economic policy.

Based on latest edition of analysis which is released on Tuesday, the Central European nations secured the top position. Japan is in the second position whereas United States is in third position. Canada holds the fourth position while Austria has secured the fifth position as per the report of U.S.News & world report. According to 2024 ranking, European countries gained the majority portions in the list of 25 out of 15 spots. The middle eastern countries such as the United Arab Emirates and Qatar also secured a position in the top 25 list. Four countries including Japan, Singapore, China and South Korea featured Asia.