China Financial News

Canadian cybersecurity researchers are voicing concern and urging people to be vigilant after reports that a staggering 26 billion records have been exposed in a “supermassive leak.”

Wall Street firms in Asia dropped to the lowest level in almost two decades, according to people familiar with the matter, as a dearth of deals in China and Hong Kong hammered the industry. Total compensation for many senior bankers in Asia ex-Japan fell to $700,000 to $800,000, well below the $1 million or more they have typically earned since the turn of the millennium, the people said, asking not to be identified discussing private matters. At least 20 percent of managing directors at banks including Morgan Stanley and UBS Group AG, received no bonuses last year, the people said.

Q3 results 2023: Investors are ready for an earnings bonanza on January 25 as a slew of major Indian companies, including Tata Technologies, Vedanta Limited, TVS Holdings Ltd, and Punjab National Bank, are set to unveil their financial performance for the Q3FY24 results. The market eagerly awaits these results, seeking insights into the economic recovery and sectoral trends amidst global uncertainties. In the afternoon session on January 24, the market displayed a robust rebound, primarily driven by short covering.

Lai Ching-te. Mr Lai’s win marks the third presidential term in a row for the Democratic Progressive Party (DPP), which emphasises Taiwan’s separate, democratic identity. Yet since that victory, mainland propaganda outlets have downplayed its significance and played up the DPP’s poor showing in parliamentary elections held the same day.

Asian stocks traded cautiously and bonds fell on Thursday while investors waited on more detail of China's stimulus plans and for a European Central Bank meeting later in the session.

Tesla CEO Elon Musk said on Wednesday Chinese automakers will «demolish» global rivals without trade barriers, underscoring the heat the U.S. electric vehicle market leader faces from the likes of BYD, who are racing to expand worldwide. Musk's comments come after Warren Buffett-backed BYD — with its cheaper models and a more varied lineup -overtook Tesla as the world's top-selling EV company last quarter, despite Tesla's deep price cuts through 2023. Chinese car companies were the «most competitive» and «will have significant success outside of China, depending on what kind of tariffs or trade barriers are established,» Musk said on a post-earnings call with analysts on Wednesday. «If there are no trade barriers established, they will pretty much demolish most other car companies in the world,» he said.

cryptocurrencies in early 2023, when he realized that the Chinese economy and its stock markets were going downhill.

Canada's federal commission of inquiry into foreign interference is looking to examine alleged meddling by India in the country's last two general elections, Canada-based CTV News reported. The commission, in a statement on Wednesday, said it has asked the federal government to produce documentation related to these allegations. The commission's terms of reference, published last year, direct it to assess possible interference by China, Russia, and other foreign states or non-state actors in the 2019 and 2021 federal elections, the CTV News reported. The statement signals the commission's intention to probe any role India might have played in influencing the two ballots, as per CTV News. The commission's initial hearings, to begin Monday, will look at the challenges and limitations of disclosing classified national security information and intelligence to the public. According to CTV News, an interim report from the commission is due on May 3, with a final report expected by the end of the year.

Tesla expects to start production of its long-anticipated, next-generation electric vehicle at its Texas factory in the second half of 2025, Chief Executive Elon Musk said on Wednesday. But Tesla shares were down 6.5% in premarket trading as Musk noted that ramping up production of the new vehicle would be challenging and Tesla also warned of sharp slowdown in sales growth this year before the new model launch. Musk said it would take «a tremendous amount of new revolutionary manufacturing technology» required — a sign that any boost to Tesla's declining pace of growth would take time. His projection followed a Reuters story earlier in the day saying Tesla had told suppliers to prepare for a June 2025 startup of a smaller crossover vehicle, critical for the automaker as it loses share to inexpensive EVs such as those made by China's BYD.

companies surged on Wednesday as China's move to prop up its economy is seen boosting demand and prices of metals, but experts remain skeptical of this rally sustaining till there are definitive signs of stronger growth in the world's second-largest economy.

Newme, on Wednesday told ET that it has raised $5.4 million (Rs 45 crore) in a seed funding round led by Fireside Ventures. The Bengaluru-based startup, which currently sells its own brand of clothing across both online and offline outlets was founded in 2022. It had in the past raised an undisclosed round of funding from investors such as Aum Ventures, 2am VC and All In Capital, all of whom have participated in the current round.

BEIJING (Reuters) — China on Wednesday said it is widening the uses for commercial property lending by banks in its latest effort to ease a liquidity crunch facing troubled real estate firms.

Wall Street ended mixed after strong gains for Netflix and some influential technology stocks helped offset losses across much of the U.S. stock market

Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9% of its full-time workforce

Japan has reported its exports surged almost 10% in December from a year earlier, helped by a revival in trade with China and strong demand for vehicles

Tesla’s net income more than doubled last quarter due to a one-time tax benefit, even as electric vehicle price cuts and slowing sales growth cut into its profits

China's central bank plans to reduce the ratio of reserves banks must keep on hold as part of a slew of measures to support its slowing economy

China, the world's biggest exporter, says it is deeply concerned about tensions in the Red Sea that have upended global trade by forcing many shippers to avoid the Suez Canal

There is global consensus that the Fourth Industrial Revolution has ushered in a new era. At discussions of the World Economic Forum, Davos, most focused on artificial intelligence (AI) and supply chain disruptions. At the heart of these discussions are three critical transitions: the AI and machine learning (ML) revolution, green energy transition and supply chain diversification.

By Jamie McGeever

By Chibuike Oguh