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HSBC profits hammered by pandemic and soaring US-China tensions
HSBC on Monday said profits for the first half of 2020 plunged by 69 percent on year as the banking giant was hammered by the coronavirus pandemic and spiralling China-US tensions. Chief executive Noe ……
China stocks rise as expanding factory activity boosts recovery hopes
Chinese shares rose on Monday as new data underscoring strong growth in factory activity bolstered hopes that China’s economy has bounced back faster than expected from the shock of the coronavirus … ( read original…
US small business bailout money flowed to Chinese-owned companies, analysis shows
Millions of dollars of U.S. taxpayer money have flowed to China from the $660 billion Paycheck Protection Program that was created in March to be a lifeline for struggling small businesses in the … (…
US doubles surveillance flights over South China Sea
The US military nearly doubled aerial surveillance operations in the South China Sea last month compared with May, a Beijing think tank said yesterday, warning that this made a confrontation much more … ( read…
Goldman, BofA Left Off Ant IPO for Work With Alibaba Rivals
Goldman Sachs Group Inc. and Bank of America Corp. were left off Ant Group’s upcoming stock sale in Hong Kong because of their past work with rivals of its affiliate Alibaba, according to people ……
FDx Advisors Inc. Cuts Stock Holdings in China Mobile Ltd. (NYSE:CHL)
FDx Advisors Inc. lowered its stake in shares of China Mobile Ltd. (NYSE:CHL) by 10.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The ……
China delays new asset-management rules
China’s central bank has extended the grace period for the country’s banks to comply with new asset management rules aimed at reining in … ( read original story …)
China’s manufacturing activity surges in July
A private gauge of China’s manufacturing activity rose in July to its highest level in more than nine years, boosted by accelerated production … ( read original story …)
China sends first Covid-19 medical testing team to Hong Kong
Seven health officials have arrived in Hong Kong from mainland China, the first members of a 60-person team that will carry out Covid-19 testing. This is the first time Chinese health officials have … (…
Coronavirus in Illinois updates: 1,467 new known COVID-19 cases and 14 additional deaths reported
Illinois announced 1,467 new confirmed cases of COVID-19 on Sunday. The state also reported 14 additional deaths. Illinois now has 181,943 total known infections and 7,517 fatalities. The new figures … ( read original story…
Goldman, BofA Left Off Ant IPO on Working With Rivals
Goldman Sachs Group Inc. and Bank of America Corp. were left off Ant Group’s upcoming stock sale in Hong Kong because of their past work with rivals of its affiliate Alibaba, according to people ……
Raw material supply for COVID-19 vaccines sufficient in China
As countries race to promote COVID-19 vaccines, concerns have arisen over the supply of upstream raw materials. Industry analysts said that Chinese manufacturers need not worry as China has a … ( read original story…
