China, once GM’s largest and most important market, has become its biggest problem. General Motors told shareholders on Wednesday that it would record two non-cash charges totaling more than $5 billion on its joint venture…
Monthly Archives For December 2024
How China Benefits From Chaos in US-Allied South Korea
Seoul’s withdrawal from the nascent trilateral security alliance with the U.S. and Japan could strengthen China’s hand in the region.
GM expects more than $5 billion impact from China restructuring, including plant closures
General Motors expects a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 billion in charges and writedowns. The restructuring charges for the “SGM” joint venture are…
GM Sees $5 Billion Hit to Restructure Troubled China Business
General Motors Co. will incur more than $5 billion in charges and writedowns tied to its troubled operations in China as the automaker tries to salvage its once-profitable business in the world’s …
Losses in China lead to $5 billion charge for General Motors as it cuts the value of its assets
The poor performance of General Motors’ Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totaling more than $5 billion in the fourth quarter of this y …
China losses force General Motors to take over $5B in charges to restructure and cut asset values
The poor performance of General Motors’ Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totaling more than $5 billion in the fourth quarter of this …
General Motors is taking a $5 billion-plus hit on its operations in China
GM said it would write down the value of its joint venture with China’s SAIC Motors by as much as $2.9 billion and incur restructuring charges.
European Business Groups’ Surveys Find Rising China Challenges
British and German firms in China are having a tougher time doing business and worry about the outlook for next year, according to two new surveys.
China creates chameleon-like camouflage tech with ‘invisibility’ power for military use
Camouflage is an important military strategy that limits the enemy’s ability to locate and attack other forces. Now, a team of Chinese researchers has developed an advanced color-switchable material called Self-Adaptive Photochromism (SAP).
South China Sea: Beijing submits Scarborough Shoal baseline documents to UN
China has submitted a copy of the geographic coordinates and nautical charts for sea territory surrounding Scarborough Shoal with the United Nations, a move experts said followed international …
Chinese espionage campaign scooped up data on thousands of US mobile phone users, sources say
A Chinese espionage campaign scooped up data on hundreds of thousands of American mobile phone users, likely stealing information about more than 1 million customers.
Why China need not worry about Trump’s tech and financial warfare
When future historians look back on China’s rise, Trump’s trade war might well be viewed as having helped to prevent a Chinese crisis China has overcome Donald Trump’s trade war and tech sanctions …
Bybit crypto exchange says mainland Chinese can trade through VPN, but not with yuan
Bybit CEO Ben Zhou says the company plans to reapply for a Hong Kong licence next year even though regulators bar selling crypto to mainlanders.
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