Category: China
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Tesla shares gain on plans to launch Full Self-Driving in Europe, China By Reuters
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Written by Akash Sriram (Reuters) – Tesla Inc (NASDAQ:TSLA) shares rose 2.6 percent before the bell on Thursday after the electric carmaker stuck to its plans to launch its advanced driver assistance software for Full Self-Driving (FSD) in China and Europe pending regulatory approval. This comes about a month before…
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Tesla shares gain on plans to launch Full Self-Driving in Europe, China By Reuters
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Written by Akash Sriram (Reuters) – Tesla Inc (NASDAQ:TSLA) shares rose 2.6 percent before the bell on Thursday after the electric carmaker stuck to its plans to launch its advanced driver assistance software for Full Self-Driving (FSD) in China and Europe pending regulatory approval. This comes about a month before…
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JPMorgan ditches China buy recommendation due to ‘Tariff War 2.0’
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JPMorgan Chase & Co. dropped its buy recommendation on Chinese stocks, citing heightened volatility around the upcoming U.S. election as well as growth headwinds and tepid political support. China’s rating was downgraded to neutral from “overweight” in the bank’s emerging market allocation, strategists led by Pedro Martins wrote in a…
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Ruto hands mega road deal to China, drops French firms
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President William Ruto has abandoned the French and is now courting China for the Nairobi-Malaba highway dualisation project that his predecessor Uhuru Kenyatta offered to a French consortium. Dr Ruto, who is in Beijing to attend the African leaders summit, said his host Xi Jinping had given the green light…
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Eleven dead after school bus hits students, parents in eastern China By Reuters
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HONG KONG (Reuters) – Eleven people were killed in China’s eastern Shandong province on Tuesday after a school bus lost control at a busy pedestrian intersection, state broadcaster CCTV reported. Horrific footage showed bodies lying on the road and trapped under the bus. The accident killed six parents and five…
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China warns Japan of economic reprisal if potential new chip curbs are imposed
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HH 5800 China has warned of tough economic retaliation against Japan if it continues to impose restrictions on its sales and maintenance of chipmaking equipment to Chinese companies, Bloomberg News reported. Senior Chinese officials have reiterated this position in recent meetings with their Japanese counterparts, the report said. Added Quoted…
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China Caixin Manufacturing PMI August 2024: 50.4 (expected 50.0, prior 49.8)
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Over the weekend, we got the official PMIs: China Manufacturing PMI for August 49.1 (49.5 expected), Services 50.3 (50.0 expected) More details: The Caixin S&P Global Manufacturing Purchasing Managers’ Index was much better, at 50.4. From the report, in brief: Demand rose as total new orders resumed growth, with demand…
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Asia Eyes Cautious Open After China Factory Data: Markets Wrap
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Breadcrumbs Path Links PMN Business Asian stocks are set for a cautious start to a historically volatile month for markets as evidence grows that China’s efforts to prop up its ailing economy have yet to pay off. Article author: Bloomberg News Matthew Burgess Published on September 1, 2024 • Read…
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Implications for ASML as the Dutch government takes a tougher stance on China By Investing.com
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The Dutch government has reportedly imposed new restrictions on ASML’s (AS:) ability to maintain and supply spare parts for its advanced deep ultraviolet (DUV) equipment in China. However, analysts from JPMorgan and Wells Fargo suggest the impact on ASML’s overall earnings could be limited. The Dutch government is preparing to…
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Implications for ASML as the Dutch government takes a tougher stance on China By Investing.com
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The Dutch government has reportedly imposed new restrictions on ASML’s (AS:) ability to maintain and supply spare parts for its advanced deep ultraviolet (DUV) equipment in China. However, analysts from JPMorgan and Wells Fargo suggest the impact on ASML’s overall earnings could be limited. The Dutch government is preparing to…
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China August Manufacturing PMI 49.1 (expected 49.5), Services 50.3 (expected 50.0)
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Official China PMI for August 2024 from the National Bureau of Statistics (NBS) More to come — The Chinese economy has shown, and continues to show, an uneven and unbalanced recovery. Key areas of concern include: Uncertain outlook for debt-ridden real estate sector Consumer confidence and demand decline Excess manufacturing…
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Asia FX weakens amid China trade jitters; yen rally stalls By Investing.com
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Most Asian currencies fell on Tuesday as concerns about a trade war over new Canadian tariffs on China mounted, while some weak inflation data held back the Japanese yen’s advance. The dollar’s recovery from 13-month lows also weighed on regional markets, as rising geopolitical tensions in the Middle East, Libya…
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China EV maker Xpeng considers Europe factory in areas with ‘low labor risks’
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Xpeng Inc. is looking for a manufacturing site in Europe, making it the latest Chinese electric vehicle maker to seek to mitigate the impact of import tariffs by building its vehicles in the region. Volkswagen AG’s Chinese partner is in the early stages of selecting a site in the European…
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Fed Cuts May Send $1 Trillion FX ‘Avalanche’ to China, Jen Says
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(Bloomberg) — Chinese companies may be tempted to sell a $1 trillion pile of dollar-denominated assets as the U.S. cuts interest rates, a move that could boost the yuan by as much as 10%, according to Stephen Jin. Most Read from Bloomberg The currency is now the biggest risk that…
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Canada to Hit China With Tariffs on Electric Vehicles, Steel
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Breadcrumbs Path Links PMN Business Canada plans to impose new tariffs on Chinese-made electric cars, aluminum and steel, in a move to back its Western allies and protect domestic manufacturers. Article author: Bloomberg News Brian Platt Published on August 26, 2024 • Read for 3 minutes You can save this…
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Analysis-After battle with yuan bears, China is now keen to avoid sharp currency gains By Reuters
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SHANGHAI (Reuters) – After spending a year trying to put a floor under the slumping yuan, China’s central bank is suddenly facing the opposite problem and is resorting to underhanded means to prevent the currency from rising sharply. The Chinese yuan, which is usually pegged, rose 1.3% against the dollar…
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China Extradites Pyramid Scheme Leader
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Chinese authorities have revealed that they have extradited a suspect in a “massive economic crime” with the help of Thai law enforcement. The man is alleged to be the mastermind behind a $14 billion pyramid scheme involving cryptocurrencies, making his extradition the first involving economic crimes between the two countries.…
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Morgan Stanley latest to cut oil demand growth forecast on China factors (NYSEARCA:USO)
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SlavkoSereda/iStock via Getty Images Crude oil futures settled higher on Friday but fell for the week as the market digested bullish U.S. inventory data and Federal Reserve Chairman Jerome Powell delivered his speech. Strongest signal yet The central bank will cut interest rates next month. Earlier this week, oil futures…
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China automaker lobby warns of enormous risks and uncertainty from EU tariffs on EVs
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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China Acknowledges Digital Currency In Historic AML Law Overhaul
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The Public Prosecutor and the Supreme Court of China have issued Terms updated The country’s anti-money laundering legislation is set to include recognition of crypto transactions for the first time. The change takes effect immediately, and the main goal is to put efforts into trying to curb the Growing use…