A crypto-friendly former official with China’s central bank has been accused of taking bribes through cryptocurrencies, in the first corruption case of its kind in the country as it cracks down on …
BUSINESS
Starbucks explores selling stake in Chinese business amid strategic growth plans
Starbucks is considering selling a stake in its Chinese operations, as it is exploring strategic partnerships to drive growth, the coffee chain said. A global spokesperson for Starbucks said in a statement: “We are wholeheartedly…
Chinese Judge Cites ‘High-Pressure Crackdown’ On Speculation In Judgment Declaring Crypto Ownership Legal As Bitcoin Moves Past $97K
Amid Bitcoin’s (CRYPTO: BTC) record-breaking run, a Shanghai court has opined that owning cryptocurrencies as an individual is not against Chinese law. What Happened: Judge Sun Jie of the Shanghai …
Mark Tanner assesses how brands active in China are looking at their positioning following the US presidential election
Mark Tanner assesses how brands active in China are looking at their positioning following the US presidential election …
China crude oil imports set for November rebound, but it’s price not demand: Russell
China’s crude imports are on track to rebound in November to the highest in three months, but the increasing appetite of the world’s largest oil importer is more about price than rising demand.
What Luxury Can Learn From China’s Singles’ Day
However it was China’s big tech that—again—won the day. Alibaba Group said that 45 brands delivered more than RMB 1 billion in GMV. One of these was Apple. 589 surpassed RMB 100 million in GMV…
Shanghai judge says cryptocurrency is a commodity, legal to own
A Shanghai judge’s analysis highlights the legal murkiness of cryptocurrency in China, clarifying it as a virtual commodity with restrictions on issuance and trading.
Trump to unleash nearly 40% tariffs on China in early 2025, hitting growth: Reuters poll
The United States could impose nearly 40% tariffs on imports from China early next year, a Reuters poll of economists showed, potentially slicing growth in the world’s second-biggest economy by up to …
Economists expect Trump to place huge tariffs on Chinese imports: Survey
Economists are expecting President-elect Trump to place tariffs of around 40 percent on Chinese imports, according to a new survey from Reuters. In the survey of economists, 45 percent said the …
Apple sales fall y/y on China’s Singles’ Day, Huawei up 7%, data shows
Apple sold fewer smartphones during China’s Singles’ Day shopping festival this year as it faced pressure from an “abnormally high” number of rival handsets launched around the event, Counterpoint …
Chinese AV startup Pony AI boosts its IPO goal to $260M
Pony AI, the Chinese autonomous vehicle startup that’s looking to go public on the Nasdaq stock exchange, now wants to raise around $260 million, according to a new regulatory filing. To meet the goal …
Johnson & Johnson, Merck lay off workers in China as local headwinds take a toll
Johnson & Johnson and Merck are laying off workers in China, according to a story from Bloomberg which cites reports from Chinese news outlets and confirmation from industry sources in the country.
China’s Pony AI seeks up to $4.55 bln valuation in upsized US IPO
Pony AI said on Wednesday it was targeting a valuation of up to $4.55 billion in its upsized initial public offering in the United States, indicating strong demand for the Chinese robotaxi firm’s long …
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