China Financial News

14.09 / 22:03

business Tesla Bitcoin Payments clean energy Energy usage Bitcoin clean energy usage reportedly exceeds 50% — Will Tesla start accepting BTC payments?

Elon Musk said in 2021 that Tesla would accept Bitcoin payments once miners were using roughly 50% clean energy sources “with positive future trend” — a benchmark that may have recently been met.

14.09 / 20:03

Moodys country Moody's cuts China property sector's outlook to negative

China's crisis-hit property sector's outlook to negative from stable, citing economic growth challenges the ratings agency said would dampen sales despite government support. Moody's said it expected contracted sales to fall by about 5% over the next six to 12 months in China, and the impact of government measures to boost property purchases was likely to be short-lived and uneven. The outlook downgrade comes amid a string of debt defaults by cash-squeezed developers.

14.09 / 19:11

COST UPS Provident Digital Manufacturing wholesale Wholesale inflation dips for fifth month to 0.5% in August

Wholesale inflation declined for the fifth consecutive month in August to 0.52% from 1.4% in July providing further comfort to the Reserve Bank of India to hold rates ahead of the RBI's Monetary Policy Committee in early October, experts said. «With fall in commodity prices driving deflation in core WPI on YoY basis (which implies lower input costs for producers), currently there is limited pressure on consumer prices, resulting in broadly stable CPI core inflation. This is likely to comfort the RBI,» said Rahul Bajoria, head of EM Asia (ex-China) economics, Barclays. RBI last raised policy rates to 6.5% in February and has not instituted a rate hike since.

14.09 / 18:31

Provident Aware Action HSBC HSBC to boost startup funding across sectors

startups after exhausting 80% of the $250 million earmarked last year, a senior executive said, underscoring the lender’s focus on the sector facing funding challenges. Ajay Sharma, head of commercial banking at HSBC India, said the lender banks 45% of Indian unicorns, and is willing to meet some working capital requirements of startups, while pushing them to maintain high corporate governance standards. Instances of delayed financial reporting and alleged fraudulent practices by some large startups have put the spotlight on governance issues at some entities that have raised billions of dollars from investors.

14.09 / 18:02

UPS CEO KFC Hess fall Semtech, Yum China rise; Vital Energy, Radiant Logistics fall, Wednesday, 9/14/2023

Stocks that are trading heavily or have substantial price changes on Thursday:

14.09 / 18:01

UPS BLOCK Platform ByteDance TikTok social foreign Yellen details tighter scrutiny of investment plans of foreign-owned companies operating in the US

The Biden administration plans to increase scrutiny of the investment plans of foreign-owned companies operating in the United States

14.09 / 17:59

UPS Cooper Manufacturing Align show country A Saudi Defense Contractor Courted Russia and China. Then, Its U.S. Business Partners Fled

RIYADH, Saudi Arabia—American defense giant RTX and a Saudi weapons firm were heading toward a multibillion-dollar deal when it was abruptly called off early this year. The reason, say people familiar with the talks, was RTX’s concerns that its Saudi partner’s companies were pursuing business with sanctioned Chinese and Russian entities. That unease was a deciding factor for an advisory board of retired American military officers to resign from the Saudi company, Scopa Defense, the people said.

14.09 / 17:49

Target HANS National Is China imposing a national dress code?

Beijing House of Fashion isn't imposing a stitchdown on what aunties and uncles here consider to be 'too revealing' clothes that may be straying too far from the sanskari catalogue. In China, changes are being sought to be made in the law that could fine and detain people found wearing clothes that 'hurt the nation's feelings'. How the National People's Congress' Standing Committee that is seeking the ban intends to identify clothes 'detrimental to the spirit of the Chinese nation' is yet to be elaborated.

14.09 / 17:49

COST UPS Manufacturing Racing Tesla UBS Europe’s EV Troubles Run Deeper Than China

China is speeding ahead in the electric-vehicle race. Europe’s antisubsidy investigation into Chinese EV makers reflects this new reality, but tariffs alone aren’t enough to keep Europe’s automakers in the fast lane. The European Union has launched a probe into whether state subsidies have given Chinese EV makers an unfair leg up as they accelerate into European markets.

14.09 / 17:49

Provident Reuters Biden's son Hunter hit with criminal gun charge in US special counsel probe

Joe Biden's son Hunter Biden was criminally charged on Thursday, after efforts to reach a plea deal failed, leading to the first ever prosecution of a sitting president's child. The indictment filed on Thursday U.S. District Court in Delaware with three criminal counts related to gun possession. The indictment brought by recently elevated U.S. Special Counsel David Weiss comes after a deal for Hunter Biden, 53, to plead guilty to two misdemeanor tax charges and enroll in a program to avoid prosecution on a gun-related charge collapsed in a stunning turn in a July hearing. The charges ensure that courtroom drama will play an outsized role in the 2024 U.S.

14.09 / 17:49

UPS shootings country Oil shoots up to 2023 highs on tight outlook after Saudi Arabia, Russia supply cuts; Brent over $93/bbl

₹7,502 per bbl, having swung between ₹7,364 and ₹7,505 per bbl during the session so far, against a previous close of ₹7,338 per barrel. The continuing supply cuts could lift Brent futures above the $100 a barrel threshold before the end of the year, according to analysts at Bank of America. -Earlier this month, oil producers Saudi Arabia and Russia extended their voluntary oil output cuts of a combined 1.3 million barrels per day (bpd) to the end of the year which resulted in a sharp surge in international crude prices - reaching a 10-month high peak.

14.09 / 17:49

Provident Cooper Progressive Aware country Japan keen on reviving Indo-Pacific dialogue as tensions rise

NEW DELHI : Japan is looking to revive a dialogue with India focused on Indo-Pacific issues by the end of this year, according to persons aware of the matter. This dialogue, which was last held some years ago, is expected to take in topics ranging from economic security and China’s military expansionism to Indo-Japanese cooperation with third countries in the region. The move to revive this dialogue comes amid escalating tensions in the Indo-Pacific in recent months.

14.09 / 17:39

COST UPS Provident Manufacturing Apple country Let iPhone 15 be dearer in India...

India can't seem to see the point in their preferred phones being made in India, yet costing more. And, yet, that is precisely the point. It doesn't matter that iPhones are expensive in the country as long as more of them are made here.

14.09 / 16:03

Target VISA Entertainment Chevron performer Stocks making the biggest moves midday: Netflix, Etsy, HP, Visa and more

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14.09 / 15:45

MET LEH voice beautiful Broke my heart to see sense of betrayal in the eyes of Ladakh people: Rahul Gandhi

Rahul Gandhi on Thursday shared glimpses of his recent visit to Ladakh through his motorcycle diary saying that it broke his heart to see a sense of betrayal by Prime Minister Narendra Modi when he lied about China not occupying our land. «Ladakh is one of India's crown jewels, and one of the world's most important strategic locations. It broke my heart to see a sense of betrayal in the eyes of the people of Ladakh.

14.09 / 15:45

Blockchain COST UPS Digital Bitcoin show DeFi as a solution in times of crisis

The 2020s have been a challenging decade so far, yet the transformative power of blockchain technology offers a better path forward.

14.09 / 15:39

COST Manufacturing Volkswagen Tesla BMW country VW lays off workers at key EV factory over cratering demand

Volkswagen AG is cutting temporary workers at its main electric-vehicle factory in Germany after the phaseout of a subsidy in the country caused demand for its EVs to drop.

14.09 / 15:23

COST UPS Reuters Gap country To cut reliance on China, Russia turns to India for aluminium feedstock

LONDON : Russia has stepped up imports of the aluminium feedstock alumina from India in recent months to supply its vast Siberian plants, a move that diversifies the sanctions-hit country's supply, helps reduce dependence on China and cuts costs. After invading Ukraine, the world's second biggest producer of aluminium lost two crucial sources of alumina, used to make aluminium metal, as a refinery in Ukraine suspended production and Australia banned supplies to Russia. While Russia and China are on friendly terms, aluminium production in China is rising, leaving less price flexibility for Russia to buy alumina.

14.09 / 14:15

UPS Provident Waters BAY show cover India, Russia explore new maritime corridors to unlock trade potential

Maritime Corridor (EMC) between Vladivostok and Chennai. Both the nations also agreed on training for seafarers in polar and Arctic waters at Russian Maritime Training Institute in Vladivostok.

14.09 / 13:29

Target Ford Entertainment Mobile Chevron performer Solar Stocks making the biggest moves premarket: AMC, Etsy, First Solar and more

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14.09 / 12:59

COST UPS Target show ECB raises interest rates by 25 basis points to record level

Investing.com — The European Central Bank has hiked interest rates to a record high as policymakers look to address elevated inflation in the eurozone despite signals that the region's economy is weakening.

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