China
How grief and burnout pushed this 27-year-old to follow her lifelong dream of opening a bookstore: ‘This was a pipe dream’
When Lucy Yu was 7 years old, she told her mom she wanted to retire and open a bookstore one day. She’d always loved reading and, as the only child raised primarily by her single mother who immigrated from China, turned to books as a source of comfort. Now, at age 27, Yu is living […]
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Chinese e-commerce giant JD beats estimates despite slowest quarterly revenue growth on record
Chinese e-commerce giant JD.com posted its slowest quarterly revenue growth on record for the first three months of the year, as Covid-19 lockdowns in the world’s second-largest economy weighed on consumer spending. JD.com beat estimates on revenue but missed expectations on profit. Here’s how JD did in the first quarter of 2022, versus Refinitiv consensus […]
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Shanghai achieves ‘zero Covid’ status but normal life is weeks away
Residents line up to take nucleic acid tests on May 12, 2022 in Shanghai, China. Streets in China’s capital Beijing were quiet on Friday as residents heeded the advice of authorities to work from home to stop the spread of Covid-19, while officials in locked-down Shanghai said they aimed to defeat the virus this month. […]
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Shooting at Taiwanese church in California that killed 1, wounded 5 investigated as hate crime, FBI says
A church staff member raises police tape for a car to exit at the Geneva Presbyterian Church May 16, 2022 after one person was killed and five injured during a shooting May 15, 2022 at the church in Laguna Woods, California. The shooting was motivated by political tensions between China and Taiwan, authorities said Monday, […]
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JPMorgan picks China stocks to play Beijing’s infrastructure boost
China has announced big plans to build up more cities, and JPMorgan analysts say it’s time to buy some infrastructure stocks. That’s based on news earlier this month that China’s top executive body, the State Council, has loosened residency rules to allow migrant workers from rural areas to settle in smaller towns. By the numbers, […]
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China has been quietly building a blockchain platform. Here’s what we know
China has made blockchain technology a strategic priority. Blockchain-based Service Network, or BSN, is part of its efforts to boost its capabilities in the sector. Yuichiro Chino | Moment | Getty Images Chinese President Xi Jinping has declared that his country needs to “seize the opportunities” presented by blockchain technology. In a speech in 2019, […]
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Shanghai says victory against Covid getting closer
Residents line up to take nucleic acid tests on May 12, 2022 in Shanghai, China. Streets in China’s capital Beijing were quiet on Friday as residents heeded the advice of authorities to work from home to stop the spread of Covid-19, while officials in locked-down Shanghai said they aimed to defeat the virus this month. […]
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Goldman names the Chinese tech stocks it says will weather the supply chain crisis
Investors worried about the supply chain shocks from China’s Covid lockdowns can look to these tech stocks, according to Goldman Sachs. Goldman analysts said in a note on May 3 that the share price slump in the sector has likely “priced in the lockdown impact.” On top of the supply chain disruptions from Beijing’s strict […]
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Coach owner Tapestry cuts profit outlook as China lockdowns dent demand
Customers walk past a Coach store at Shanghai New World Daimaru department store on August 12, 2019 in Shanghai, China. VCG | Visual China Group | Getty Images Coach owner Tapestry on Thursday trimmed its profit outlook for the fiscal year 2022 with lockdowns in China poised to dent consumer demand of its high-end purses […]
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SoftBank Vision Fund posts record $27 billion loss as tech stocks plummet
SoftBank Founder Masayoshi Son said there is “confusion in the world” and in the markets due to a number of factors including Russia’s invasion of Ukraine, high inflation and central bank moves to raise interest rates. These factors have contributed to a record annual loss at SoftBank’s Vision Fund. Kentaro Takahashi | Bloomberg | Getty […]
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