China Financial News

A gauge of global chip stocks and AI bellwether Nvidia Corp. have fallen together into a technical correction, showing moderation in the global equity market’s most conspicuous driver over the past year and a half.

Didn’t President Biden promise a better trade policy than his predecessor? Well, he now appears to be in a race with Donald Trump to be Protectionist in Chief. Witness his pitch for new tariffs at a campaign stop on Wednesday in Pittsburgh. Speaking at United Steelworkers headquarters—where else?—Mr.

GE (formerly General Electric) recently sold its iconic 60-acre Crotonville campus, established in 1956, for $22 million. This facility, once the heart of GE’s corporate culture, thrived during Jack Welch's tenure when managers yearned to network with top executives and immerse themselves in the company's culture. But following GE's recent segmentation, Crotonville's significance dwindled.

Taiwan Semiconductor Manufacturing Company on Thursday beat revenue and profit expectations in the first quarter, thanks to continued strong demand for advanced chips, particularly those used in AI applications.

China’s youth unemployment rate remained steady in March, in what could be seen by some as a tentative sign that the world’s second-largest economy is gradually stabilizing. The jobless rate among China’s 16- to 24-year-olds—excluding those enrolled in school—stayed at 15.3% last month, the same as in February, according to data from the National Bureau of Statistics on Thursday. That is broadly in line with figures earlier this week showing that overall headline unemployment stood at 5.2% in March, ticking down from the prior month’s 5.3%.

₹1 change in gross marketing margin substantially impacts the Ebitda (earnings before interest, taxes, depreciation, and amortization) margins of oil PSUs by over 20%. Increased LNG prices or supply shortages would adversely affect gas companies like GAIL, Petronet LNG, and city gas distributors such as Gujarat Gas, IGL, and Mahanagar Gas. Additionally, the windfall tax limits profit margins for producers like ONGC and OIL, capping net realizations at around $75 per barrel.

Reports from brokerage firms state that automobiles and components, banks, diversified financials, gas utilities, pharmaceuticals are the sectors likely to expect a YoY increase in the net income while metals and mining and oil, gas and consumable fuels might witness a YoY decline.

At least three offshore Chinese asset managers will launch the virtual asset spot ETFs soon.

electoral bonds scheme introduced by the central government on January 2, 2018 as an alternative to cash donations made to political parties to bring transparency in political funding. Last year, a five-judge Constitution bench headed by Chief Justice DY Chandrachud had reserved its verdict in the matter on November 2. The hearing commenced on October 31, 2023 by bench comprising Justices Sanjiv Khanna, B R Gavai, J B Pardiwala and Manoj Misra.

Apple CEO Tim Cook said the company is “looking at” manufacturing in Indonesia as he met with Indonesian President Joko Widodo on Wednesday

Japan recorded a trade deficit for the third straight fiscal year as the costs of energy and other imports rose and the yen remained weak

The U.S. 7th Fleet says a Navy P-8A Poseidon has flown through the Taiwan Strait

President Joe Biden has told an audience of cheering unionized steelworkers that his administration will block the acquisition of U.S. Steel by a Japanese company

Pavel Durov, founder of the encrypted instant messaging app Telegram, believes that growing government surveillance will drive innovation in secure communication, modeled on cryptocurrency hardware wallets.

Paris, while France will get a major host-nation bump from eighth to third, according to a forecast 100 days out from the opening ceremony. The Gracenote virtual medals table, which is compiled using results data from key global and continental competitions since the Tokyo Olympics, has the U.S. on top both on gold medal count (39) and total medal count (123). The U.S. will host the next Olympics after Paris in Los Angeles in 2028.

Joe Biden is calling for a tripling of tariffs on Chinese steel and aluminum to protect American producers from a flood of cheap imports, and will pitch his election-year plan during a visit Wednesday with steelworkers in Pennsylvania, where union support could prove crucial in the White House race. The move reflects the intersection of Biden's international trade policy with his reelection effort. The White House insists the policy is more about shielding American manufacturing from unfair trade practices overseas than firing up a union audience.

Tesla chief Elon Musk is set to announce an investment in India of $2-$3 billion, mainly for building a new factory, when he visits New Delhi next week to meet Prime Minister Narendra Modi, two sources familiar with the discussions said. Musk will meet Modi on Monday during his India trip, when the billionaire is expected to unveil his plans to enter the world's third-largest auto market where electric car adoption is still in its infancy. India's EV market is small but growing and dominated by local carmaker Tata Motors. EVs made up just 2% of total car sales in 2023, but the government is targeting 30% of new cars to be EVs starting 2030.

According to a CoinDesk report, OKX, the world’s second-largest cryptocurrency exchange by trading volume, has lost two of its top executives, Tim Byun and Wei Lan.

Fumio Kishida’s visit to the United States in April 2024 was a historical visit because the agreement indicated that Japan will take charge of a more wider security role in the East China Sea, Taiwan and the South China Sea as a trustworthy ally of the United States. Firstly, Japan and the United States are planning to make Tokyo to be main headquarters of military operation in this region. Currently, Japan has been planning to establish the integrated headquarters of its ground, maritime, and air Self-Defence-Forces in Tokyo by next March 2025. Along with it, during this Kishida’s US visit, the US decided to strengthen its headquarters in Tokyo to make seamless collaboration with the Japanese side. The rank of commander of the headquarter will rise from three star general to be four star general. The four-star general is at the same level with the current Indo-Pacific Commander in Hawaii. The strengthening of the seamless command chain of armed forces in Tokyo is very important step. Currently, China is provoking countries in the East China Sea, Taiwan and the South China Sea at the same time. For China’s strategy, these areas are one set. For example, if China wants to invade Taiwan, China should dominate the East China Sea and the South China Sea to isolate Taiwan. And government in Beijing can control all these areas under one integrated strategy.

Rajnath Singh on Wednesday questioned the intention behind the CPI(M)'s poll manifesto promise to dismantle nuclear weapons in the country and demanded to know the stand of the Congress on this issue. Singh alleged talk of dismantling India's nuclear weapons amounted to playing with national security and that there was a «deep-rooted conspiracy to weaken the country». He accused the Left and the Congress, both allies in the anti-BJP INDIA bloc, of apparently trying to weaken the country. Speaking at a public meeting in Kasaragod Lok Sabha seat seeking votes for BJP candidate M L Ashwini, Singh demanded that the Congress should clarify its stand on the CPI(M)'s promise in the manifesto to dismantle nuclear weapons as it was the Indira Gandhi government which kicked off the country's nuclear programme in 1974.

ASML, the largest supplier of equipment to computer chip makers, reported weaker than expected first-quarter new bookings on Wednesday, although sales to China held up despite U.S.-led restrictions. Shares in Europe's biggest tech firm, which had risen 34% this year, were down 4.5% to 873.40 euros at 0741 GMT