China Financial News

Beyond Meat is revamping its signature plant-based burger, hoping that healthier ingredients will help it boost flagging U.S. sales

European Union countries have agreed on a new package of sanctions against Russia

Investing.com — Nvidia reported Wednesday better-than-expected guidance and fiscal fourth-quarter results as an AI-led surge in demand for chips helped ease the hit from the U.S. chip export ban to China. 

Circle Squared Alternative Investments founder Jeff Sica discusses whether the Fed will cut interest rates in 2024 on 'Varney & Co.'

US crypto advocacy group, the Chamber of Digital Commerce (CDC), is opposing Senator Elizabeth Warren’s anti money-laundering (AML) DAAMLA legislation, claiming she is “trying to kill the entire industry,” according to a tweet yesterday on X.

India has opposed the European Union's bid to push new issues such as carbon taxes, industrial subsidies, women and climate at the upcoming ministerial meeting of the World Trade Organization (WTO) in the garb of "deliberative functions" or «conversation with ministers» that seek to reform the body. Officials said the EU wants an open-ended work programme for such issues while developing countries are against them being discussed among ministers as they don't have a negotiating mandate from the global trade body. Deliberation sessions have been planned for the first time at the 13th ministerial conference of the WTO for ministers to discuss various issues.

India is poised to overtake China as the largest member of the World Trade Centers Association (WTCA) in the next five years, its chairman said, underscoring a hitherto circumspect New Delhi's rapid global strides that neatly dovetail into a China-plus-one corporate sourcing strategy aimed at derisking supply chains across the planet. «I would say, particularly in the past 10 years, India's presence on the global stage has become increasingly pronounced,» said John E. Drew, Chairman of the WTCA, an international trade platform that connects more than 300 WTCs in nearly 100 countries. «While India's growth trajectory has been ongoing, its recognition and active participation in major economic discussions alongside China, the US, Russia, and the EU signify its emergence as a significant player in the global economy,» he said. Currently, India has about 40 WTC licensees covering more than 30 cities. According to the real estate developer, a large number of Indian entrepreneurs establishing successful companies in the US, particularly in tech hubs like California and Massachusetts, further strengthened India's influence in global business. «I expect this trend to continue, paralleling the trajectory seen with Chinese entrepreneurship,» he said.

By Steve Gorman

By Amanda Cooper

Investing.com — European stock markets traded in a mixed fashion Wednesday, with investors digesting a raft of corporate results, including disappointment from heavyweight HSBC. 

By Lisa Barrington, Brenda Goh and Joe Brock

Employees’ Provident Fund Organisation (EPFO), sources told The Economic Times. They added that officials from the Indian Computer Emergency Response Team (Cert-In) are tasked with examining the situation. “We are aware of it but need to verify if the claims being made are correct.

India and China agreed to maintain «peace and tranquillity» on the ground in border areas along the Line of Actual Control (LAC) in eastern Ladakh during a fresh round of high-level military talks earlier this week. However, there was no clear forward movement at Monday's talks in resolution of the more than three-and-half-year lingering row in a number of friction points, people familiar with the matter said. The 21st round of the India-China corps commander level meeting was held at the Chushul-Moldo border meeting point on February 19, the Ministry of External Affairs (MEA) said. «The discussions built on the previous rounds, seeking complete disengagement in the remaining areas along the LAC in Eastern Ladakh as an essential basis for restoration of peace and tranquillity in the India-China border areas,» it said in a statement.

HSBC noted the effects of China's slower-than-expected economic recovery after the Covid-19 pandemic as well as heightened geopolitical tensions. The firm reported pre-tax profits of $30.3 billion, up from $17.1 billion the year before, in a statement to the Hong Kong stock exchange. Profit after tax increased by $8.3 billion, to $24.6 billion.

Investing.com-- Anglo-Australian miner Rio Tinto Ltd (ASX:RIO) clocked a weaker underlying profit for 2023 as softer iron ore prices and demand weighed on its topline, although the figure was still slightly above expectations on stronger production. 

₹76, or 0.12%, at ₹62,243 per 10 grams. MCX Silver price was up by ₹150, or 0.21%, at ₹71,405 per kg. International gold prices were steady, helped by a slightly weaker dollar as investors looked forward to minutes of the last US Federal Reserve policy meeting due later in the day for more clarity on its interest rate path, Reuters reported.

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By Selena Li and Lawrence White

Investing.com-- Shares of major Australian mining stocks fell sharply on Wednesday, tracking a decline in iron ore prices amid growing concerns that worsening global economic conditions will dent demand for the steel-making material.

Investing.com-- Asia-focused lender HSBC Holdings PLC (HK:0005) (LON:HSBA) clocked weaker-than-expected profit growth for 2023, but still marked a record-high pre-tax profit as it benefited greatly from higher interest rates across the globe, with the bank also announcing an up to $2 billion buyback.

Investing.com-- Most Asian currencies rose on Wednesday, seeing some relief as the dollar retreated in anticipation of more cues from the Federal Reserve on the path of interest rates.