China Financial News

US Federal Reserve was nearing the end of its interest rate hiking cycle. The pan-European STOXX 600 ended 0.7% higher. Irish stocks jumped 2.1%, boosted by gains in Kingspan which climbed 15.7% after forecasting record profit for the first half of the year.

Investing.com — Stocks closed higher on Tuesday led by a jump in energy and big tech as investors awaited a duo of inflation reports later this week.

Havells India is going to venture into electronic manufacturing service (EMS) or contract manufacturing space for appliances such as air-conditioners and washing machines to cater to the increased demand of global brands to have an Indian manufacturing base, said chairman and managing director Anil Rai Gupta. On a pilot basis, the company has already started manufacturing and product designing of air-conditioners for some of the global brands in markets like the Middle East and the US. Gupta said since Havells is investing heavily into building manufacturing lines and capacities for appliances for its own brand Lloyd, it will utilise the spare capacity for contract manufacturing for brands sold overseas. «We want to cater to China plus-one manufacturing strategy of global brands. We will only manufacture for brands sold overseas since we don't want such products to compete with our own Lloyd brand of appliances. We are also designing the products to ensure they meet the norms of these markets,» said Gupta. Gupta said the company is targeting Rs 1,000 crore revenue from contract manufacturing over the next 3-4 years. He said Havells has started with AC for such manufacturing since it has already built a plant of global standard and has excess capacities. Next will be the washing machine for which it has set up a plant. «As and when we set up plants for manufacturing our own products, we will start contract manufacturing,» he said.

ByteDance, the Chinese owner of short video app TikTok, will allow shares of US employees to vest without waiting for the company to list in the stock market, thereby allowing them to cash out, according to people familiar with the matter. The move is aimed at appeasing restless employees who have been waiting for an initial public offering to profit from the shares they have been awarded as part of their compensation. It is also an indication that ByteDance, whose worth in excess of $200 billion makes it the world's most valuable startup, is in no rush to go public amid Beijing's heightened scrutiny of China's technology giants.

₹300 trillion mark).   While a share in global market cap will reflect the vagaries of the stock market and its relative performance to other markets, the long-term trend is unmistakable. India’s share rose from 1.6% in 2006 (and the historical average of 2.6%) to 3.3% this June.

By Katherine Masters

Investing.com — U.S. stocks were rising as investors await more comments from Fed officials and a key inflation report on Wednesday.

NEW DELHI : As many as 415 million Indians moved out of poverty in the 15-year period between 2005/2006 and 2019/2021, the UN said in a report on Tuesday. The latest update of the global Multidimensional Poverty Index (MPI) was released by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OPHI) at the University of Oxford. The report analysed trends from 2000 to 2022, focusing on 81 countries with comparable data over time.

Fox News senior strategic analyst Gen. Jack Keane (ret.) discusses Biden's comment on the U.S. military's ammunition and China's rising aggression. 

Investing.com — Crude oil prices gained Tuesday, helped by growing expectations of more stimulus in China, the largest importer of crude in the world, as well as bullish OPEC comments regarding future demand.

Microsoft Corp. won a court’s okay to move forward with its $69 billion deal to buy Activision Blizzard Inc., defeating an effort by the US Federal Trade Commission to block the largest ever gaming deal. The decision by Judge Jacqueline Scott Corley in San Francisco means Microsoft can seek to close its merger with Activision ahead of a July 18 deadline everywhere except for the UK, which vetoed the deal in May.

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Terry Smith (pictured) is the CEO of Fundsmith and manager of the Fundsmith Equity fund

A senior official of the US think tank Institute for the Analysis of Global Security has been accused of acting as an unregistered agent of China, federal prosecutors in Manhattan said on Monday. Gal Luft, a citizen of the US and Israel, is accused of recruiting and paying a former high-ranking US government official on behalf of principals based in China in 2016, without registering as a foreign agent as required by law.

Beijing Youth Daily reported. Zhou’s accomplices were arrested soon after the crime, but he had managed to stay at large until the end of June when Hubei police apprehended him in the southern city of Guangzhou, where he had been hiding, the report said. A viral video showed that as police officers took Zhou away to board a train back to Hubei, he asked his wife to divorce him and remarry.

According to Invesco's 'Global Sovereign Asset Man... moreAccording to Invesco's 'Global Sovereign Asset Management Study', India has overtaken China as the most attractive emerging market for investments.

The digital asset industry reached over $3 trillion at its peak in November 2021. However, the custodial part of the market remained at the more modest mark of $447.9 billion in 2022. 

The Chinese government is considering additional regulations on artificial intelligence (AI) development that emphasize content control and licensing.

China has long since closed its doors to decentralized cryptocurrencies, but Circle CEO Jeremy Allaire believes that stablecoins could play a role in the proliferation of China’s digital yuan.

But the most important point is where the film will be screened. As the movie has been shot in IMAX, it should be watched in the 70mm IMAX theatre to have the best immersive experience. The IMAX has a vertically bigger aspect ratio and so the viewers get a larger and better picture on a 70mm screen.

Investing.com — Apple Apple (NASDAQ:AAPL) will begin to sell its products on Tencent's (HK:0700) megapopular messaging app WeChat as the tech giant looks to grow its retail presence in China.