China
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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Chinese jet aborts takeoff, catches fire
A plane of Tibet Airlines taxis on a runway on January 9, 2020 in Lhasa, Tibet. He Penglei | China News Service | Getty Images China’s Tibet Airlines said all passengers and crew had been evacuated from an Airbus A319 plane that caught fire after an aborted takeoff in the southwestern city of Chongqing on […]
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China may chalk up more debt as lockdowns hit the economy
Covid lockdowns have hit China’s economy, and the Asian giant might have to issue more debt to continue meeting its growth target. Kevin Frayer | Getty Images News | Getty Images China may have to issue more debt as it tries to keep growing in the face of Covid lockdowns that are stunting its economy. […]
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WHO chief says China’s zero-Covid policy is not ‘sustainable’
A worker disinfects the walkway near closed shops after many retail stores were closed to help prevent the spread of Covid-19 on May 10, 2022 in Beijing, China. The head of the World Health Organization said on Tuesday China’s zero-tolerance Covid-19 policy is not sustainable given what is known of the disease. Kevin Frayer | […]
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From North Korea to testy ties with China, South Korea’s new leader has big challenges ahead
South Korea’s new president Yoon Suk-yeol isn’t going to “have much of a honeymoon period,” said Kathleen Stephens, president and CEO of the Korea Economic Institute of America and former U.S. ambassador to South Korea. “I think he said the right thing as he is inaugurated, about his desire to see Korea play a larger […]
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China’s Xi urges officials to ‘resolutely fight’ those who question zero-Covid policy
Xi Jinping seen giving a speech during the centenary of the founding of the Chinese Communist Party, in Fuyang on July 1, 2021. From a political perspective, 2022 is a particularly critical year for China, as Xi is expected to gain an unprecedented third term this fall at the 20th National Party Congress, alongside a […]
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U.S. regulators are in China for audit deal talks: Reuters, citing sources
The U.S. Securities and Exchange Commission headquarters in Washington, D.C., U.S., on Wednesday, Feb. 23, 2022. U.S. regulatory officials have arrived in Beijing seeking to settle a long-running dispute over the auditing compliance of U.S.-listed Chinese firms, three people familiar with the matter told Reuters. Al Drago | Bloomberg | Getty Images U.S. regulatory officials […]
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