SM group-led China Banking Corp. grew its second quarter net profit by 27 percent year-on-year to P3 billion, bucking the downturn seen by other banking peers amid constraints arising from the … ( read original…
Tagged By finance
Elon Musk says ‘China rocks’ while the U.S. is full of ‘complacency and entitlement’
Tesla CEO Elon Musk, in an interview out Friday, compared the US to a sports team that stands poised to lose after years of winning. ( read original story …)
White House to force China’s ByteDance to separate from TikTok in U.S.: sources
The United States is preparing to force ByteDance to shed the U.S. operations of TikTok over concerns the Chinese company’s ownership of the popular short video app jeopardizes personal data, people … ( read original…
Bank’s ties to Beijing restricting ability to restore its fortunes
The bank did not comment, but some shareholders have highlighted the matter as a potential problem. It is just another example of the difficulties facing … ( read original story …)
U.S. Adds Sanctions Over Human Rights Abuses in China
The Treasury Department imposed sanctions on a powerful government entity that runs companies and farms in the Xinjiang region, where officials carry out the mass internment of Muslims. ( read original story …)
U.S. set to unveil crackdown on China’s ByteDance over TikTok: sources
The United States is preparing to take action against China’s ByteDance over concerns that its ownership of TikTok jeopardizes the security of the personal data that the popular short video app … ( read original…
Beijing watchdogs to punish Luckin Coffee, related firms after confirming US$300 million accounting fraud
Announcement from two regulators places the beleaguered Luckin Coffee in the spotlight again after the US$300 million scandal led to its delisting from Nasdaq. ( read original story …)
Sands China: A Long Road To Recovery
Sands China was loss-making in 2Q 2020, which was not unexpected considering the negative impact of COVID-19 and travel restrictions on the Macau gaming industry. ( read original story …)
Apple sees China earnings growth after pandemic
Apple has revealed $9.329 billion sales in the greater China region, making a small increase over the same period last year. During its legally-mandated third quarter 2020 financial call … ( read original story …)
TikTok owner ByteDance considers listing China business in Hong Kong or Shanghai, sources say
Chinese tech giant ByteDance is considering listing its domestic business in Hong Kong or Shanghai, people familiar with the matter told Reuters. ( read original story …)
CORRECTED-China says to penalise Luckin Coffee for accounting fraud
China’s Ministry of Finance will impose administrative penalties on Luckin Coffee after it confirmed an accounting fraud that forced the onetime market player to delist from NASDAQ. The ministry … ( read original story …)
Exclusive: China’s central bank urges antitrust probe into Alipay, WeChat Pay – sources
China’s top antitrust agency is looking at whether to launch a probe into Alipay and WeChat Pay, prompted by the central bank which argues the digital payment giants have used their dominant positions … (…
Anti-China sentiment in US at ‘historic high’, Pew Research survey finds, amid friction over trade, coronavirus and human rights
Americans’ negative views toward China have reached a “new historic high” amid the coronavirus pandemic, according to a report published by the Pew Research Centre on Thursday.”Around three-quarters ( … ( read original story …)
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