City Beijing Financial News
16.08 / 18:33
economic data
White House says China's economic data has had transparency issues
(Reuters) — The White House, pressed on Wednesday about recent Chinese growth, said there were issues with the transparency of economic data issued by Beijing.
16.08 / 15:53
COST
UPS
FIVE
NOT
China’s economic slowdown is a surprise that ought not to be
US Federal Reserve and European Central Bank. Moves up or down in borrowing costs among that august group tend to be in increments of a quarter or half-point. The PBoC has elected to startle markets with a fraction of that.
16.08 / 12:19
16.08 / 12:19
UPS
Target
UBS
China will strengthen policy coordination to meet growth target - state media
BEIJING (Reuters) — China will strengthen the coordination of various policies to boost growth and meet this year's economic target, according to a cabinet meeting cited by state media on Wednesday.
16.08 / 11:17
UPS
Manufacturing
CEO
Intel
country
Deal
Intel Scraps Tower Acquisition After China Fails to Approve Deal
Intel said on Wednesday it would walk away from its more-than-$5 billion proposed acquisition of Israeli chip maker Tower Semiconductor after failing to win regulatory approval for the deal. The deal required approval from a number of jurisdictions, and China’s State Administration for Market Regulation had yet to sign off by Tuesday’s approval deadline. The Chinese regulator didn’t immediately respond to a request for comment Wednesday.
16.08 / 11:17
Waves
Manufacturing
Racing
Continental
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country
blues
Race to Control Electric-Vehicle Supply Chains Leads to Africa
lithium that are key to the energy transition. That has led to growing concerns among Western governments, including in Washington, about their dependence on Beijing. Now, some Western companies and investors are starting to build processing plants in Africa so they can refine the raw materials they mine on the continent locally and export them directly to Europe and the U.S.
16.08 / 07:53
UPS
Manufacturing
Apple
Align
country
iPhone 15
Apple' Foxconn commences production of iPhone 15 in Tamil Nadu, strengthening operations in India: Report
Foxconn Technology Group in Sriperumbudur, Tamil Nadu is gearing up to dispatch the latest iPhone units shortly after their initial rollout from Chinese factories, reported Bloomberg. This move is aimed at rapidly ramping up the quantity of new iPhones manufactured in India, according to individuals acquainted with the situation. As per the report, Apple is engaged in a multiyear initiative to broaden its manufacturing beyond China.
16.08 / 07:17
UPS
Target
Manufacturing
UBS
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country
China may 'miss the 5%' growth target this year as downside risks spread
BEIJING — Without more stimulus, China is increasingly likely to miss its growth target of around 5% this year, economists said.
15.08 / 23:19
IPO
FIVE
Reuters
Racing
country
Heeding Beijing's call, law firms tone down China risks in IPO applications
HONG KONG (Reuters) -Law firms in China are scrambling to comply with Beijing's new guidance to tone down the language used to describe China-related business risks in companies' offshore listing documents, five people familiar with the matter said.
15.08 / 23:19
15.08 / 18:01
UPS
Citi
Provident
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country
China Turns to Well-Honed Playbook: Cut Rates, Hide Data
consumer spending, industrial production and public and private investment in China missed expectations by a wide margin in July, data showed Tuesday, adding to a drumbeat of bad news on the economy. At the same time, China’s statistics bureau announced it would suspend publication of data on youth unemployment in China, citing plans to revisit the methodology.
15.08 / 16:39
UPS
Cooper
Waters
Remark
country
China damming Brahmaputra river may prove disastrous for Bangladesh
China, an upper riparian nation, has built roughly eight hydroelectric power projects (HPPs) on the lower levels of the Brahmaputra; some of them are currently operational, others are being built, and one mega-dam is being considered, according to the Daily Mirror. According to Beijing's 14th Five-Year Plan (2021-25), the 9th projected 60 GW HPP could be constructed at the Great Bend in Motuo County of Linzhi Prefecture, Tibet.
15.08 / 14:19
JPMorgan
Gap
Chase
Fitch
country
cover
Fitch warns it may downgrade many US banks, including JPMorgan
Fitch Ratings warned that U.S. banks, including JPMorgan Chase, could be downgraded if the agency further cuts its assessment of the operating environment for the industry, according to a report from CNBC on Tuesday. In June, Fitch lowered the score of the U.S.
15.08 / 14:03
UPS
BAY
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country
Crude oil retreats after weak China data; U.S. retail sales rise
Investing.com — Crude oil prices fell Tuesday as disappointing economic data raised further concerns about China’s economic recovery, even following Beijing’s unexpected interest rate cut.
15.08 / 13:29
15.08 / 12:01
Citi
Waters
Highways
Subway
Warning
Vast swath of northeastern China threatened by flooding as rivers rise above warning levels
northeastern China is threatened by flooding as at least 90 rivers have risen above warning levels and 24 have already overflowed their banks, state media reported Tuesday. Crews are standing by to defend homes and farmland across the Songliao Basin north of Beijing, which encompasses more than 1.2 million square km (482,200 square miles). The area includes parts of four provinces and several major cities with a total population of almost 100 million.
15.08 / 11:51
15.08 / 05:15
UPS
Target
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country
Unemployment
China skips giving update on surging youth unemployment as economic slump deepens
China’s government has skipped giving an update on a politically sensitive spike in unemployment among young people as official data showed an economic slump deepened in July
15.08 / 05:15
Provident
Target
COMPOSITE
show
Stock market today: Asia follows Wall Street lower after US data revive fears about rate hike
Asian stock markets have tumbled after mixed U.S. economic data revived worries the Federal Reserve might hike interest rates again
15.08 / 05:15
UPS
COMPOSITE
show
reports
Asian stocks
Stock market today: Asian stocks mixed after China reports weak July data and cuts key interest rate
Asian stock markets are mixed after China reported weak July consumer and business activity and its central bank cut a key interest rate to shore up the struggling economy
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