BERLIN (Reuters) – The United States overtook China as Germany’s biggest trading partner in the first half of 2024, according to preliminary German statistics office data, as Berlin’s drive to reduce dependency on Beijing takes…
BUSINESS
TSMC-linked China auto chip maker plunges over 30% in Hong Kong IPO
HONG KONG — Black Sesame International, an automotive chip maker from China that fully relies on Taiwan Semiconductor Manufacturing Co. (TSMC) for its production, made a dismal debut on the Hong Kong …
China’s M&A, Restructuring Markets Heat Up Amid IPO Slowdown
Chinese investors are shifting focus to mergers and acquisitions as well as corporate restructuring as a better way of getting a return on their investment amid a prolonged downturn in initial public …
China’s major internet firms log steady revenue growth in H1
China’s internet sector saw steady growth in business revenue in the first half of this year, data from the Ministry of Industry and Information Technology …
China Stocks Climb Amid Broader Asian Market Weakness
China stocks gained on Thursday, standing out from weaker Asian markets as investors sought safe havens amid economic uncertainty. Despite slow export growth, tech shares led the rise, with investor sentiment supported by a firmer…
Japan’s Shiseido becomes latest luxury brand hit by China slump, shares plunge
Japanese cosmetics powerhouse Shiseido fell by its daily limit in Tokyo trading on Thursday following midyear earnings that were hit by restructuring costs and slumping demand in China. Shiseido …
China’s exporters enjoyed the benefits of a weak yuan. Now that’s changing and cutting into profits
China reported slower-than-expected growth in U.S. dollar-denominated exports for July on Wednesday, while imports surprised with a better-than-expected increase. Exports have stood out as a bright spot as China’s economic growth slows. Many local …
China’s commodity imports show economy struggling for momentum
China’s imports of major commodities continued to lose momentum in July, with crude oil arrivals slumping to the weakest in nearly two years, while those of iron ore, coal, copper and natural gas were …
Beiersdorf misses profit forecast, says slow China hit luxury brand sales
Beiersdorf reported 7.1% organic sales growth for the first half of the year on Wednesday, driven by double-digit percentage growth in its flagship skincare brand Nivea.
How Chinese traders and miners get around China’s crypto ban
She had the option to pursue a career in her field of study but says that a “normal” job cannot match the profits she can make with crypto. China’s cryptocurrency bans aren’t always crystal clear…
Just-In: China Moves $2B Ethereum Seized In Ponzi Scheme, Bitcoin & XRP Next?
On Wednesday, hundreds of wallets moved $2 billion Ethereum seized by Chinese police in 2021 after authorities cracked down on the Plus Token ponzi scheme.
Blockchain Technology Market Booms with 44.3% CAGR, Set to Reach US$ 181.1 Billion by 2033
The demand for blockchain technology market is expected to increase at an astounding CAGR of 43.5% from 2022 to 2030, with the worldwide market expected to be valued at US$ 59.5 billion by that time.
Long-Dormant Wallets Tied to $2B PlusToken China Ponzi Moves 2.8K Ether
“Hundreds of wallets” tied to funds seized from the $4.2 billion PlusToken Ponzi scheme started moving thousands of ether (ETH) on Wednesday, creating chatter about more looming sell pressure among crypto market participants on X.…
