Tag Archives: China

(Bloomberg) — The billionaire founder of KE Holdings Inc. has died of an unspecified illness, a shocking development for a Chinese property company that pulled off one of the strongest U.S. market debuts of 2020. Zuo Hui, who turned the company known as Beike from a nationwide chain of real estate offices into China’s largest platform for housing transactions and services, died May 20 after an “unexpected worsening of illness,” his company said in a statement without elaborating. KE… Source link

(Bloomberg) — Bitcoin and other major cryptocurrencies slumped after the People’s Bank of China reiterated that digital tokens can’t be used as a form of payment. The largest token fell as much as 2.3% to $42,309 in early Asian trading Wednesday, continuing a weeklong slide sparked by Elon Musk’s back-and-forth comments on Tesla Inc.’s holdings of the coin. Ether, Dogecoin and last week’s sensation, Internet Computer, also retreated. “This is the latest chapter of China tightening… Source link

Reports of anti-Asian incidents that happened in the U.S. over the past year nearly doubled in March alone, as ongoing bigotry and increased awareness brought a flood of testimony, according to data released by advocacy group Stop AAPI Hate this month.  The surge in anti-Asian harassment during the coronavirus pandemic has coincided with a massive shift in negative U.S. sentiment toward China. A Gallup poll conducted in February found that 45% of Americans consider China the nation’s… Source link

Law360 (April 30, 2021, 2:38 PM EDT) — A Tiananmen Square protestor and Chinese political activist will have to try again on his claims that Yahoo Inc. helped the Chinese government track down and imprison him, after a California federal court found he failed to specify when the tech giant’s alleged misconduct occurred. In an order filed Thursday, U.S. District Judge Lucy H. Koh dismissed with leave to amend the complaint brought by Ning XIanhua against Yahoo’s successor… Source link

While Tesla is laser focused on selling Chinese consumers more Model 3s, one of its chief rivals in the country Xpeng (XPEV) is already planning for a future of electric flying cars. And not only planning for it, putting its money where its mind is at. This week at the Shanghai Auto Show, Xpeng showed off its electric Heitech flying vehicle. It looks one part snowmobile, one part futuristic helicopter. The vehicle seats one person.  Xpeng Vice Chairman and President Brian Gu tells Yahoo… Source link

Bloomberg As Sanjeev Gupta Rose From Trader to Tycoon, Several Banks Backed Away (Bloomberg) — British industrialist Sanjeev Gupta’s companies seemed to be prospering until his main lender, Greensill Capital, imploded last month. But long before Greensill collapsed, several banks had cut off the commodity trading business of Gupta’s Liberty House Group.Four banks stopped working with Gupta’s commodity trading business, starting in 2016, after they became concerned about what they… Source link

Joining the “ETF Report” with host Alexis Christoforous on Yahoo Finance, ETF Trends’ CEO, Tom Lydon, was on hand to talk about where the record amount of ETF flows has been heading over the past couple of quarters, in addition to China’s recent tech stock decline, and the potential for infrastructure. Finishing the first quarter of 2021 with close to $240 billion in new assets, Lydon explains how that puts the market on pace for a trillion-dollar year in ETFs, which would be… Source link

The Chinese government has called for boycotts of several Western companies — including Nike, Adidas, and H&M — that have made past statements criticizing China for alleged human rights abuses against Uyghurs in the northern province of Xinjiang, where the Chinese government has built a network of internment camps for the Muslim minority group, forcing them to work in textile and other hard-labor manufacturing jobs, according to human rights groups. Though China denies the allegations,… Source link

TipRanks Goldman Sachs Bets on These 3 Stocks; Sees Over 50% Upside Potential What goes up must come down, as we all know. This fact of physics is the underlying worry of the stock market, that fuels our suspicions of bubbles. But investment firm Goldman Sachs doesn’t believe we should worry; the firm’s chief global equity strategist Peter Oppenheimer gives several reasons to expect that the market’s current upward trend is real. His key points include the equity risk premium, the real… Source link

(Bloomberg) — Beijing’s clampdown on its most powerful internet firms is clouding the prospects for Tencent Holdings Ltd. and its $120 billion financial services operation just as it’s casting around for new sources of growth. China’s top watchdogs have stepped up oversight of the country’s most valuable company, scrutinizing everything from Tencent’s insights into the online behavior of a billion-plus people to an investment portfolio that spans hundreds of startups. Regulators… Source link