Affirm hikes forecast amid consumer spending spree, luxury brands enjoy China boost, New York Community Bancorp seeks to calm investors’ nerves, and other news to start your day.
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Big Tech Still Has a Big Addiction to China
America’s tech giants have made a show of distancing themselves from China, but in many ways their dependence on it has actually grown.
Nissan shares see biggest plunge in two decades as China worries deepen
Shares in Nissan Motor tumbled 12% on Friday, their biggest decline in more than two decades, after quarterly earnings undershot expectations by a large margin and it cut estimates for car sales due …
The global impact of China’s deflation export
China, a titan in the realm of export, has been on a rollercoaster that’s not just internal but is spilling over borders with the force of a deflationary deluge …
China’s security regulator intensifies crackdown on IPO fraud, misconduct by securities practi-tioners
The China Securities Regulatory Commission (CSRC) released a list of penalties on Friday involv-ing IPO fraud and illegal stock trading by industry professionals. The list, which comes on the eve of …
China’s consumer slump claims another victim as Shiseido profit slides
“We recognise that the macroeconomic numbers are not good,” Shiseido President Kentaro Fujiwara said about China at an earnings briefing. “We need to look not only at the macroeconomy, but also …
Parallel universes? ‘Magnificent 7’ prone to China risks :Mike Dolan
The jarring contrast of China’s market bust and soaring U.S. stocks may cloud the vulnerability of the latter to events in Beijing, and some fear Wall Street’s narrow focus heightens that risk.
As China woes mount, investment banks brace for more Asia job cuts
A new round of staff cuts that began in late 2023 on the Chinese mainland and Hong Kong, key regional investment banking hubs, will gather pace in the coming months, they added. U.S. boutique bank…
American CEOs Visiting China Can’t Escape It: They Have to Dance on Stage
American CEOs traveling to China face big challenges. Perhaps the most terrifying? The local tradition that business leaders dance and sing on stage to huge crowds.
Hong Kong Startup Raises $6.85 Million Series A For Blockchain-Powered Insurance Claims
With over 1 million policyholders and 16 insurance companies assisted, MediConCen says it plans to expand into the Middle East and Southeast Asia.
CBI chief warns against ‘large scale tax cuts driven by short-termism’; China drops deeper into deflation – business live
Rolling coverage of the latest economic and financial news, as China slipped deeper into deflationary territory in January …
Chinese start-ups still crave US investors despite IPO challenges, bilateral friction
Once a license to print money, Chinese initial public offerings have been tarnished by opaque finances, scandals and Didi Global’s sudden NYSE delisting in 2022.
After 20 years, China surpassed by Mexico as leading source of US imports
Mexico is now the leading source of goods imported by the U.S., outpacing China for the first time in 20 years. What the figures say: According to data sourced from the U.S. Commerce Department, the…
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