China Financial News

07.07 / 11:20

UPS Reuters Action Boeing Micron play Yellen calls on US, China to play nicely with economies

US Treasury Secretary Janet Yellen said competition between the world’s biggest economies is not a “winner-take-all” situation, and called for both sides to manage their rivalry with a fair set of rules.

07.07 / 11:19

Reuters NASDAQ JPMorgan Chase ADP Markets brace for US jobs data as Fed hike looks more likely

Stocks declined as investors prepared for another round of US jobs numbers to gauge if they will back new bets for more Federal Reserve interest rate hikes.

07.07 / 10:33

EU and Belgium invest $1.6 billion in chip technology firm Imec

Belgium's regional Flemish government will together invest 1.5 billion euros ($1.6 billion) in Belgian chip technology firm Imec, the Flemish government said on Friday. Imec will use the investment to expand its «clean room» test facility with the most advanced equipment and processes, the company said in a statement.

07.07 / 10:33

UPS Booking NIFTY SVB Indian Indian indices on a new high: What’s next?

During the course of these 18 months, the markets have had to digest the volatility on accounts of the Ukraine-Russia war, over $40 billion of FII selling, the fastest interest rates hike by global central banks and concerns about India’s valuation amongst developed and emerging economies. After digesting all of the above, the markets have scaled new lifetime highs and are poised for some more in the coming few months.

07.07 / 10:33

UPS Booking share price record high Tata Motors share price scale record high driven by strong JLR sales

Jaguar-Land Rover sales during the quarter ended June 2023. During the day, the shares of Tata Motors rallied as much as 3.96% to its record high of ₹624.65 apiece on the BSE.

07.07 / 09:43

UPS Twitter Reuters Strategy AIIB rebuts accusations of Chinese Communist Party control

Chinese Communist Party, the bank said on Friday, following an investigation. In June, Bob Pickard said on Twitter he had resigned from the bank as it was «dominated by Communist Party» members and had a «toxic culture», accusations the AIIB dismissed as baseless at the time.

07.07 / 09:43

UPS Booking Tata Motors Q1 update: JLR wholesales rise 30% YoY to 93,253 units

Tata Motors on Friday said its arm JLR's (Jaguar Land Rover) wholesales (excluding China JV) rose 30% year-on-year (YoY) to 93,253 units for the first quarter ended June 2023. Meanwhile, retail sales increased by 29% YoY to 1.01 lakh units. The company said JLR's order book remains strong at 185,000 units, reflecting strong client demand.

07.07 / 09:21

COST Provident fall reserves Bangladeshi banks plan India rupee transactions as reserves fall

reliance on dollars. Eastern Bank, which opened rupee accounts with the State Bank of India and ICICI Bank, will announce the plan for rupee trade on July 11. The other Bangladeshi lender offering the same service is the state-run Sonali Bank.

07.07 / 09:21

UPS IPO Reuters Enterprise Fine Ant end regulatory China to end Ant Group's regulatory revamp with fine of at least $1.1 billion

Ant Group as soon as Friday, sources with direct knowledge of the matter said, bringing an end to the fintech company's years-long regulatory overhaul. The People's Bank of China (PBOC), which has been driving the revamp at Ant after its $37 billion IPO was scuttled in late 2020, is expected to disclose the fine in the coming days, the sources told Reuters. The penalty, which would be one of the largest ever fines for an internet company in the country, will help pave the way for the fintech firm to secure a financial holding company license, seek growth, and eventually, revive its plans for a stock market debut.

07.07 / 08:57

UPS Citi Booking Enterprise businesses China’s Communist Party is tightening its grip in businesses

leadership of private enterprises". The revised articles should set out staffing for the party branch, pledge funding for it and embed the party in the “corporate governance structure", says an account by Yingshang’s party authorities. Language used by the party to describe how it should operate in SOEs is now often applied to private firms.

07.07 / 08:57

week Gaurav Gupta dresses Cardi B in green for his second Paris Haute Couture Week

Cardi B made heads turn at Paris Haute Couture Week in a green stunning Gaurav Gupta creation. Her outfit featured a body-hugging embellished silhouette with a plunging neckline and a matching hood. The fashion designer posted pictures and videos of her on his official Instagram account.

07.07 / 08:11

UPS Enterprise Baidu China's Alibaba unveils AI image generator to take on Midjourney and DALL-E

Alibaba Group Holdings Ltd announced on Friday an artificial intelligence (AI) image generator, initially available to enterprise customers in beta form, as it ramps up its offerings in the fast-growing AI sector. The image generator, Tongyi Wanxiang, will compete with OpenAI's DALL-E and Midjourney Inc's Midjourney, U.S.-based rivals that have gained a large following worldwide.

07.07 / 07:55

COST UPS Manufacturing India’s fortunes are tightly intertwined with Maruti’s

₹10,000. Granted that’s just an arbitrary round number, but demand appears strong with a backlog of several lakh orders. MSIL is likely to beat the market in terms of growth.

07.07 / 06:09

UPS Citi Digital Mobile Beijing Set to Debut ‘New Digital Yuan Application Scenarios’ – What Next for the CBDC?

Beijing, China, says it will introduce “new digital yuan application scenarios,” and wants to take the lead in the adoption of the central bank digital currency (CBDC).

07.07 / 06:05

Lee CoCo Lee, ‘Mulan’ and ‘Crouching Tiger’ singer, dies at 48

Hong Kong-born singer CoCo Lee, whose decades-long career in Asia led to global renown, has died by suicide, her siblings said Wednesday. She was 48 years old.

07.07 / 05:31

UPS Booking Manufacturing Investors need to be careful in terms of deploying fresh money: Krishna Kumar Karwa

«I think if we look at valuations of individual companies, etc, in the last three months we have seen many of these company prices have moved up by say 20%, 30%, etc, so I think the valuation comfort is no longer there,» says Krishna Kumar Karwa, MD, Emkay Global.It has been a heck of a bull market. Do you think this summer rally of 2023 has still some more steam left?Yes, because macro were playing out in terms of inflation, interest rates, etc, all those positives were playing out and we also saw massive inflows from overseas post the China trade did not play out the way it should have.

07.07 / 05:15

UPS FIVE Manufacturing Janet Yellen seeks to calm a fraught but close-knit US-China trade relationship

Janet Yellen tries to steady an increasingly tense relationship with China, the world's two largest economies remain tightly linked, but are showing some signs of future weakness. Yellen starts meetings on Friday with senior Chinese officials pledging to seek «healthy competition» with China as confrontation between the economic powers over U.S. technology export controls and planned outbound investment restrictions dominate headlines.

07.07 / 04:51

Manufacturing Remark Tesla Tesla Inc. cuts battery production workforce in Shanghai amid fierce price war in China, suggests report

Tesla Inc. has commenced the notification process for layoffs among employees working on the cell assembly lines of the initial phase of its factory in China's financial hub. The US electric car manufacturer took this step earlier in the week as part of its restructuring efforts.

07.07 / 03:35

Reuters Tencent NetEase audit US renews audit inspection of China firms: Report

NetEase Inc, Bloomberg News reported on Thursday. The inspection, part of an agreement signed last year, comes amid rising tensions between the United States and China, including U.S.

07.07 / 03:07

MET FIVE ‘Washington wants healthy economic competition’: US Treasury Secy Janet Yellen on China visit

semiconductors and solar panels. The US official was due to meet Friday with China's No.

07.07 / 02:31

Google Google Doodle celebrates the Japanese star festival Tanabata

Search giant Google is celebrating the Japanese festival Tanabata with a special doodle. Tanabata is celebrated on the seventh day of the seventh lunar month every year. However, the star festival is also celebrated on August 7 in some places in Japan based on the older Chinese calendar. Tanabata is based on the ancient Chinese legend of two star-crossed lovers, Zhinü (Orihime) and Niulang (Hikoboshi), who were only allowed to meet once a year.

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