China Financial News

By Wayne Cole

Three men have been arrested for an elaborate conspiracy that drained $10 million from banks across the New York City metropolitan area, United States Attorney for the Southern District of New York, Damian Williams, announced today.

By Valerie Insinna

After-Hours Stock Movers:

By Karen Freifeld

NEW DELHI : Indian auto parts makers are emerging as preferred suppliers to Tesla Inc. as it diversifies away from China, two people familiar with the development said, with the US electric car giant often willing to pay a higher price for the shift. Tesla now sources a range of India-made components from small plastic parts and castings, to complex differential systems used in transmission, and wheel hubs.

Mint explains: MSCI is a standalone NYSE-listed global index, whose stock indices are widely tracked by global asset managers, hedge funds, banks, corporates and insurance companies to allocate funds across global stock markets. The indices are widely used for passive investment by exchange traded funds, index funds and some fund of funds. Passive fund returns mirror index returns unlike active funds which can beat or underperform benchmarks.

However, in India, Indonesia, and the Middle East, there was also a rise in fossil fuel employment above 2019 levels, highlighted the report. In China, there was a significant rise in the energy workforce employed in clean sectors.

Investing.com — U.S. stocks were falling as the steam ran out of their recent rally after Walmart's cautious outlook on consumer spending.

Shares of Chinese e-commerce firm Alibaba Group Holding plunged as much as 10% in New York after it said Thursday it scrapped plans to spin off its cloud business because of uncertainties related to U.S. chip restrictions

U.S. President Joe Biden and his Chinese counterpart Xi Jinping haven't resolved any of the vital geopolitical issues dividing the world’s two largest economies

Neville Roy Singham for questioning in connection with its money laundering probe linked to online news portal Newsclick, the website in the eye of a storm for its alleged China bias and questionable patronage. Singham, who is accused of spreading Chinese propaganda in India, is reportedly based in Shanghai, China. The summons has been issued under the relevant provisions of the Prevention of Money Laundering Act. People in the know said the notice has been issued after a local court issued Letters Rogatory at the request of the federal agency seeking to record Singham's statement. The first summon was issued to Singham by the ED last year.

Investing.com — Oil prices retreated Thursday, weighed by indications of additional supply from the U.S., the world’s biggest producer, as well as worries of easing demand in China.

₹6,300 a tonne, according to an official notification. For the past two weeks the the levy stood at ₹9,800 a tonne. The revised tax rate comes into effect from Thursday.

BlackRock Inc.’s Larry Fink and Stephen Schwarzman of Blackstone Inc. were among the top US executives seated at President Xi Jinping’s table at an exclusive dinner in San Francisco, where the Chinese leader pitched his nation as a positive force for world peace.

SINGAPORE—Washington’s latest curbs on the export of high-performance chips to China are beginning to bite. Alibaba on Thursday said it had scrapped its plan to spin off and list its cloud-computing division, citing the impact of the export controls that took effect late last month. The restrictions “may materially and adversely affect" the cloud business’s ability to offer products and services and to perform under existing contracts, Alibaba said, adding that it would focus on the division’s growth.

S Jaishankar said on Wednesday that India is not ruling out an investigation into the killing of a Canadian Sikh activist in British Columbia, but said Canada must provide evidence in support of its allegations that agents of the Indian government were potentially involved in the murder. Jaishankar was responding to questions from veteran journalist Lionel Barber during a conversation titled ‘How a Billion People See the World' in London. “If you have a reason to make such an allegation please share the evidence because we are not ruling out an investigation,” said Jaishankar, who is on a five-day official visit to the UK. He said Canada has not shared any evidence with India to support its allegations. The minister further said freedom of speech and freedom of expression come with a certain responsibility and the misuse of those freedoms and the toleration of that misuse for political purposes would be very wrong. Referring to the attacks on the High Commission of India in Canada, he said Indian diplomats were intimidated in public, with no action from the authorities against culprits. India-Canada ties touched a new low, following Canadian Prime Minister Justin Trudeau's allegations in September of a “potential” involvement of Indian agents in the killing of Khalistan supporter Hardeep Singh Nijjar on June 18.

Alibaba Group has scrapped plans to spin-off its cloud business, citing uncertainties created by US export curbs on chips used in artificial intelligence applications. The U.S.

WASHINGTON (Reuters) -The U.S. Commerce Department said on Thursday it has removed the Chinese Ministry of Public Security’s Institute of Forensic Science from its entity list in a bid to convince Beijing to step up cooperation to halt the flow of the synthetic opioid fentanyl in the United States.

A fire in a coal company building in a northern Chinese city has killed 26 people and injured at least 38