Many foreign sportswear brands see growth potential in China, as Chinese people become more sports-minded, spurred by summer events including the just-concluded Paris Olympics. Inquiries and sales of …
BUSINESS
General Motors Reportedly Cuts Jobs in China Amid Restructuring Effort
General Motors reportedly cut jobs in China as GM’s operations in the region struggle to regain profitability amid rising competition.
GM cuts China jobs as it resets in world’s biggest car market
The automaker had hoped to cut production there in the first quarter and return to profitability. GM has been contemplating a shakeup in its China business for months and Chief Financial Officer Paul …
China files EU tariffs complaint with WTO
The Chinese government has filed a complaint with the World Trade Organisation (WTO) over the European Union’s (EU) imposition last month of additional import tariffs on battery electric vehicles …
General Motors is cutting staff in China as it eyes a restructuring in the world’s largest auto market
The American automaker is competing against Chinese EV makers that are prioritizing production over profit as they try to gain more market share.
Luxury Looks Like a China Carry Trade Set to Unwind
Chanel and Hermes can still dictate prices to consumers betting on a profitable second-hand resale. For some other global brands, the music has already stopped.
Western sanctions are so tight that Russia and China could soon use an ancient trading system. It’s worked before.
Due to US secondary sanctions, Chinese banks are now extremely cautious about processing payments for trade with Russia.
Exports Drive China Cargo Throughput Growth amid Weak Domestic Demand
Growth in China’s total cargo throughput continued but decelerated in 2Q24 to 3% yoy, from 6% in 1Q24, says Fitch Ratings. Total container throughput grew by 7% yoy, boosted by strong demand from ASEAN although…
Saudi crude exports to China to slip in Sept, sources say
Saudi crude oil exports to China are set to fall in September to about 43 million barrels, several trade sources said on Monday, citing monthly allocations for term buyers.
Are China And India Delaying The World’s Coal Switch-Off?
With China and India’s coal consumption lurking at all-time highs, many of their Asian peers aren’t in the mood for a imminent coal switch-off either.
Starbucks could divest its China business as part of the activist playbook
Starbucks Corporation (NASDAQ:SBUX) traded higher on Monday on reports that the company is in settlement talks with activist investor Elliot Management. Those talks are expected to lead to a board …
With smugglers and front companies, China is skirting U.S. AI bans
The U.S. is trying to stop China from getting Nvidia microchips to advance its military. The private sector is fighting back.
China’s autonomous vehicle startup WeRide seeks US IPO at $5B valuation
WeRide, a Chinese autonomous vehicle company, is officially gearing up for a U.S. public debut, over a year after China started easing its effective ban of foreign IPOs. The company is seeking a …
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