China Financial News

By Joseph White

(Reuters) -Copper miner Freeport-McMoRan (NYSE:FCX) beat Wall Street estimates for third-quarter profit on Thursday and slightly raised its full-year copper sales outlook as it began shipments from Indonesia.

The courtroom drama unfolding around FTX founder Sam Bankman-Fried (SBF) has all the ingredients of a binge-worthy Netflix series, replete with a cast of shady characters and a plot that thickens with each passing day. Among the highlights were SBF's lofty presidential ambitions and a staggering $100-150 million bribe to Chinese officials, which add a surreal twist to the narrative.

OpenAI, the maker of popular artificial intelligence (AI) chatbot ChatGPT, and Dubai-based technology holding group G42 announced a new partnership on Oct. 18 to expand AI capabilities in the Middle East region. 

OpenAI is in talks to sell existing employees’ shares at an $86 billion valuation, according to people with knowledge of the matter.

An International Atomic Energy Agency team is in Fukushima for the agency's first marine sampling since treated radioactive wastewater started being released from the area's damaged nuclear plant into the sea

Nifty 50 today: Domestic market benchmarks the Sensex and the Nifty 50 closed in the negative territory for the second consecutive session on Thursday, October 19 amid weak global cues. Top Asian peers, including Japan's Nikkei, China's Shanghai Composite Index and Hong Kong's Hang Seng fell about two per cent each while in Europe, the UK's FTSE, Germany's DAX and France's CAC fell up to a per cent during the trade as investors remained worried over the prospects of an escalation of the Israel-Hamas war into a bigger regional crisis.

₹764 crore for the quarter ended September. The Abhyuday Jindal-led firm posted a 12% increase in its consolidated revenue at ₹9,797 crore in the second quarter of the current fiscal year, it said in an exchange filing. “Our domestic sales are up by 15% YoY, buoyed by the government’s push for stainless steel in strategic sectors.

By Sarah Wu and Yimou Lee

Tata Group is weighing putting in $1 billion of fresh capital into its super app venture as the salt-to-software conglomerate seeks to improve the digital business, according to people familiar with the matter. The injection is on top of the $2 billion that Tata Group invested in the venture earlier this year, the people said, asking not to be identified discussing information that is private. Tata Digital Pvt. will receive the new funding in the coming year should a deal proceed, the people said. The conglomerate has asked the digital unit, which runs its flagship online platform Tata Neu, to streamline its operations and fix glitches in the app to make it more user-friendly, according to one of the people.

global manufacturers in India to set up manufacturing. "It's an early step towards expanding our production here to meet the local demand for pixel devices. And even more importantly, it's a huge step forward in Google's commitment to Make in India," Osterloh said.

Mint explains why the outcome of the meeting may be good news for India. It's a highly ambitious project is aimed to building infrastructure and connectivity across Asia, Europe and Africa in an effort to reconstruct 21st century versions of a terrestrial and maritime silk road. Many observers saw the project as an effort by China to export its surplus capacity in construction and other fields to foreign nations while also linking their markets to China’s economy.

Chinese automakers are winning over drivers as they make major inroads into Europe’s electric vehicle market

Japan has reported its exports climbed 4.3% in September from a year earlier while imports sank 16.3%, leaving a positive balance of 62.4 trillion yen ($410 billion), the first monthly trade surplus in three months

The leaders of Russia and China have met in Beijing and called for close foreign policy coordination

Beijing has vigorously protested the U.S. Commerce Department's latest update of export controls to prevent exports to China of advanced computer chips and the equipment to make them

Australian journalist Cheng Lei says she spent more than three years in detention in China for breaking an embargo with a television broadcast

The U.S. has imposed sanctions on a group of people and firms based in Iran, China, Hong Kong and Venezuela, tied to the development of Iran’s ballistic missile and drone programs

Supreme Court on Thursday issued notice to Delhi police on pleas filed by NewsClick founder and Editor-in-Chief Prabir Purkayastha and website's human resources head Amit Chakraborty challenging their arrest under Unlawful Activities (Prevention) Act (UAPA) over alleged Chinese funding to promote anti-national propaganda. On October 16, the top court agreed to list the matter urgently after Kapil Sibal mentioned it before the bench headed by Chief Justice DY Chandrachud. The CJI had asked Sibal to circulate the case papers and said he would take a call on urgent listing of the matter. The Delhi High Court had on October 13 dismissed their pleas against arrest and subsequent police remand in the case. Both were arrested by the Special Cell of the Delhi Police on October 3. They subsequently moved the high court challenging the arrest as well as the seven-day police custody, and sought immediate release as interim relief.

For the past seven years, the 55-year-old has run the Chinese unit of fan and motor maker ebm-papst, and business has been good. But, as tensions simmer between Berlin and Beijing, ebm-papst is one of many medium-sized German companies starting to address their reliance on China, concerned at how possible Western sanctions or a future conflict over Taiwan might disrupt trade. Last year, ebm-papst launched a programme called 'Decoupling China' to ensure its Chinese division — which has around 1,900 staff — can operate if cut off from the rest of the company.

Suddenly in the aftermath of the Hamas massacre on Oct. 7, we have a presidential election about national security. And that could shuffle the U.S.