Tag Archives: China

(Bloomberg) — Alibaba Group Holding Ltd. was the victim of a months-long web-scraping operation by a marketing consultant that siphoned up sensitive data including usernames and phone numbers, according to a court case that wrapped in June. A central Chinese court ruled that an employee of a consultant that helps merchants on Alibaba’s Taobao online mall was guilty of dredging up more than a billion data items on Taobao users since 2019, using that to serve clients. The court imposed jail… Source link

(Bloomberg) — The size and type of defaults that have occurred in China in recent times indicate that the notion of “too big to fail” may no longer apply to the nation’s borrowers, according to Goldman Sachs Group Inc. There has been a noticeable up-tick in defaults by Chinese state-owned enterprises since late 2019 and some of the borrowers that have failed to repay debt recently such as China Fortune Land Development Co. have had large amounts of outstanding bonds, analysts including… Source link

As Scott Morrison fronted the media to tout a “rather unique opportunity” for a trilateral meeting with his US and UK counterparts during the G7 leaders summit, the first question from a journalist came as no surprise.  “That is not a usual opportunity,” the Australian prime minister said of the three-way discussions, his first in-person meeting with the new US president, Joe Biden.  But there was one word on everyone’s mind.  “How many times did the word China come into the trilateral… Source link

(Reuters) – Tesla Inc’s vehicle orders in China nearly halved in May, when compared to April, against the backdrop of increased government scrutiny on the U.S. electric carmaker, the Information reported on Thursday, citing internal data.    The company’s monthly net orders in China dropped to about 9,800 in May from more than 18,000 in April, the report https://bit.ly/3phOPE4 said, sending shares down nearly 5% in afternoon trading.    China is the electric car maker’s second-biggest… Source link

(Adds quote)    By Tony Munroe and David Stanway    BEIJING, May 31 (Reuters) – Married Chinese couples may have up to three children, China announced on Monday, in a major shift from the existing limit of two after recent data showed a dramatic decline in births in the world’s most populous country.    Beijing scrapped its decades-old one-child policy in 2016, replacing it with a two-child limit to try and stave off risks to its economy from a rapidly aging population. But that failed… Source link

Bloomberg Inside the Race to Avert Disaster at China’s Biggest ‘Bad Bank’ (Bloomberg) — It was past 9 p.m. on Financial Street in Beijing by the time the figure inside Huarong Tower there picked up an inkbrush and, with practiced strokes, began to set characters to paper.Another trying workday was ending for Wang Zhanfeng, corporate chairman, Chinese Communist Party functionary—and, less happily, replacement for a man who very recently had been executed.On this April night, Wang was… Source link

Hail, freezing rain and gale-force winds during a high-altitude mountain ultramarathon led to the deaths of 21 experienced runners in northwestern China on Saturday, state media and the Associated Press reported. The 62-mile Huanghe Shilin Mountain Marathon race began in sunny conditions that morning. By 1 p.m. the weather turned to freezing rain, hail stones and gale winds, the state-run Global Times reported. Rescuers confirmed that 151 of the 172 total runners were safe, via AP, and eight… Source link

The Daily Beast This Belarusian Currency Trader Is Buying Up Tiny Vermont Photo Illustration by The Daily Beast/GettyA Belarusian currency speculator named Pavel Boguslavovich Belogour is buying up huge swaths of tiny Vermont—thousands of acres of the Green Mountain State, and even patches of land over the border in Massachusetts and New Hampshire.At first, Belogour, who goes by “Paul,” was received as something of a novelty. An idiosyncratic character with long hair and scant online… Source link

Watch: Bitcoin falls again as China reiterates crackdown Bitcoin (BTC-USD), ethereum (ETH-USD) and other cryptocurrencies crashed on Friday after China announced a harsh clamp down on the market.  The top crypto, bitcoin, plummeted over 11% to $37,429 (£26,428), while etherreum — the world’s second largest crypto — plunged 13% to $2,552.  Dogecoin (DOGE-USD) fell as much as 15% to $0.34 during the session. Chart: Yahoo Finance The crash was triggered by Chinese vice-premier Liu Hu saying… Source link

Bloomberg Inflation Bets Mount on Fear That Brazil Won’t Hike Rates Enough (Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Brazil’s inflation expectations are going the wrong way as investors fear the central bank won’t be bold enough to rein prices in.Traders are piling into inflation-linked bonds, seeking protection from an expected acceleration in prices, as officials stick to their guidance that they will pause the… Source link