China
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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‘We see a big recession in the making’: Top CEOs are fearing the worst in Europe
Top European CEOs are fearing a euro zone recession as a confluence of economic shocks continues to threaten the outlook for the bloc. Alex Kraus | Bloomberg | Getty Images LONDON — The CEOs of several European blue chip companies have told CNBC that they see a significant recession coming down the pike in Europe. […]
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Chinese tech giant NetEase launches first gaming studio in U.S. in international push
NetEase’s U.S. game studio called Jackalope Games highlights the Chinese tech giant’s aggressive interntational push as the domestic game market faces headwinds. Xing Yun | Costfoto | Future Publishing | Getty Images Chinese gaming giant NetEase has launched its first fully-owned gaming studio in the U.S. as it ramps up international expansion against the backdrop […]
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SEC adds over 80 companies to list of firms facing delisting risk, including China’s JD.com
Signage at JD.com’s warehouse in Shanghai, China, on Mar. 9, 2022. The U.S. Securities and Exchange Commission on Wednesday added over 80 firms to its list of entities facing possible expulsion from American exchanges, which include China’s JD.com, Pinduoduo, Bilibili, and NetEase. Qilai Shen | Bloomberg | Getty Images The U.S. Securities and Exchange Commission […]
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From Estee Lauder to Apple, big companies say China’s Covid restrictions are hitting business
Factories in China affected by Covid lockdowns can conditionally resume work, by housing workers on-site. Pictured here is an auto parts manufacturer in Suzhou that has had 478 employees on site since April 16. CFOTO | Future Publishing | Getty Images BEIJING — Several international corporations warned in the last week the drag from China’s […]
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Yum Brands earnings miss estimates as China weighs on KFC, Pizza Hut sales
Vehicles wait in line at the drive through lane of a Yum! Brands Inc. Kentucky Fried Chicken (KFC) and Taco Bell restaurant in Lockport, Illinois, U.S. Daniel Acker | Bloomberg | Getty Images Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts’ expectations as lockdowns in China weighed on sales. Here’s what the company […]
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Chinese ride-hailing giant Didi says U.S. regulator is investigating its $4 billion IPO
Didi said in its annual report that it’s being investigated by the U.S. Securities and Exchange Commission. The SEC opened the probe after Didi’s U.S. IPO last year. Sopa Images | Lightrocket | Getty Images The U.S. Securities and Exchange Commission is investigating Didi after its tarnished initial public offering, adding further pressure on the […]
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Starbucks revenue tops estimates as U.S. sales growth offsets declines in China
A pedestrian carries a Starbucks branded cup in San Francisco, California, U.S., on Thursday, April 28, 2022. Starbucks Corp. David Paul Morris | Bloomberg | Getty Images Starbucks on Tuesday reported quarterly revenue that topped analysts’ expectations as U.S. sales growth offset sharp declines in China. Shares rose less than 1% on the report in […]
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