PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an …
BUSINESS
Chinese state-owned brokerage to ramp up investment banking business in Southeast Asia
A unit of state-owned brokerage China Galaxy Securities (CGS) plans to expand its investment banking team in Southeast Asia to 50 people next year from 30 now, a senior executive said, betting on a …
Experts worry that a U.S.-China cold war could turn hot: ‘Everyone’s waiting for the shoe to drop in Asia’
They also worry that China may quickly erode the U.S.’s technological advantage and Washington’s global influence. Many of China’s trading partners are in the “middle powers group: The Brazils and …
Hong Kong Employees at China Financial Firms Face Pay Clawbacks
Some of China’s largest state-backed financial firms are asking employees in Hong Kong to return a portion of their pay, extending President Xi Jinping’s “common prosperity” campaign to the offshore business hub.
Luxury brands roll out huge discounts as Chinese rein in spending
The sales are being offered primarily by aspirational brands such as Versace and Burberry, as China’s once-voracious middle-class consumers become more frugal.
Cartier Owner Richemont Posts Slight Sales Drop Amid Sluggish Demand in China
Cartier owner Richemont met analysts’ sales estimates for its fiscal first quarter as demand slowed for luxury goods, particularly in China.
China Puts Power of State Behind AI—and Risks Strangling It
SINGAPORE—As American tech giants pull ahead in the artificial-intelligence race, China is turning to an old playbook to compete: putting the vast resources of the state behind Chinese companies.But the heavy hand of China’s government…
A tech stock with a name sounding like ‘Trump’s Big Win’ surged by the maximum in China after the Pennsylvania assassination attempt
Wisesoft stock surged 10% after former President Trump survived an assassination attempt. Wisesoft, known as a meme stock in China, often sees price jumps linked to Trump events. Chinese retail …
China’s top insurer Ping An seeks to raise US$3.5 billion via convertible bond sale
Ping An Insurance (Group), China’s largest insurer by market capitalisation … The group intends to use the proceeds to further develop its core business, strengthen its capital position, support new strategic initiatives in the healthcare…
As the US reels from the Trump assassination attempt, China sees weakness
Saturday’s attack once again fed common narratives held in China about the US, including the idea that it’s a massive, chaotic “Gotham City.”
US Tariffs at 60% Would Halve China’s Growth Rate, UBS Says
New tariffs of 60% on all Chinese exports to the US would more than halve China’s annual growth rate, according to new research from UBS Group AG, underscoring the risks for Beijing if former President…
Foreign carmakers in China face ‘increasingly precarious’ position, consultancy says
New tariffs on Chinese EVs don’t help foreign automakers stay competitive, especially in the lucrative China market, says business consultancy AlixPartners.
Temasek aims to invest up to US$10 billion in India as China weighs
MUMBAI: Singapore state investor Temasek plans to invest up to US$12 billion in India over three years in sectors such as financial services and healthcare, a top executive said on Monday (Jul 15), fa …
