Tag Archives: China

Russian gas giant Gazprom said Tuesday that China will start paying for Russian gas in rubles and yuan instead of Western currency, as Moscow seeks closer ties with Beijing in the wake of economic sanctions over the Kremlin’s war in Ukraine.  “A transition was made to making payments for Russian gas supplies to China in the national currencies of the countries — the ruble and yuan,” Gazprom said in a statement following a video conference meeting with Chinese oil group… Source link

China has long been a major moneymaker for the movie industry — but as the country increases its censorship rules, could Hollywood’s complicated China relationship be coming to an end? “China was the golden goose that Hollywood looked to [in order] to really recoup some big investment dollars, and the huge capital it takes to make these big franchises,” Chris Fenton, movie producer and author of the book “Feeding the Dragon,” told Yahoo Finance Live in an interview last week (video… Source link

COVID-19 lockdowns in China threw a wrench into global supply chains earlier this year, causing shipping and production delays worldwide, and hindering economic growth. Now, the country is facing another major threat—and this one could be even worse for the economy. China has been coping with its worst heat wave in 60 years this month, with temperatures in several provinces routinely reaching 40°C (104°F). But one key province is experiencing the worst financial repercussions from the… Source link

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg China’s economic slowdown deepened in July due to a worsening property slump and continued coronavirus lockdowns, with an unexpected cut in interest rates unlikely to turn things around while those twin drags remain. Retail sales, industrial output and investment all slowed and missed economists estimates in July. The surveyed jobless rate for those aged… Source link

Russia’s invasion of Ukraine this year has roiled global energy markets and caused food shortages in some parts of the world. The disruptions could intensify during the winter, with soaring energy costs causing a recession in Europe and weakening the economies of the United States and many other nations. A broader and more devastating conflict remains possible. A war involving China would be orders of magnitude worse. House Speaker Nancy Pelosi’s recent visit to Taiwan enraged China’s… Source link

The entire semiconductor industry seemed to be holding its breath as Nancy Pelosi’s plane made its final approach to Taipei this week. Some in the sector now appear to be exhaling. The dramatic slate of responses from China to the House Speaker’s visit has notably sidestepped the chip issue — signaling that both the U.S. and China hope to keep Taiwan’s valuable semiconductor factories humming no matter what else happens in the coming weeks and months. “I think both the U.S. and China are… Source link

On the heels of IMAX’s (IMAX) strong second quarter earnings report, CEO Richard Gelfond is more than confident that the movies are back in business. “It’s not just that the movies are back — they’re back for different age groups,” Gelfond told Yahoo Finance Live in a new interview, referencing the wide variety of available content. “Doctor Strange in the Multiverse of Madness,” “Top Gun: Maverick” and “Jurassic World: Dominion” helped lift overall box office performance in the second… Source link

(Bloomberg) — After drawing foreign capital into China’s markets for years, President Xi Jinping is now facing the risk of a nasty period of financial de-globalization. Investors point to one main reason why: Xi’s own policies. Most Read from Bloomberg Money managers once enticed by China’s juicy yields and huge tech companies now say reasons to avoid the country outweigh incentives to buy. They cite everything from unpredictable regulatory campaigns to economic damage caused by strict… Source link

U.S. SPR release were exported to Europe and Asia last month, including top US geopolitical nemesis in the global arena, China, even as U.S. gasoline and diesel prices hit record highs. The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices. In a call, Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing rightful criticism from Amazon founder Jeff Bezos, because going after mom and pop gas stores… Source link

(Bloomberg) — Chinese technology stocks fell as a plan by Tencent Holdings Ltd.’s major backer to further cut its stake in the company fueled concerns more investors may look to take profits following a strong rally. Most Read from Bloomberg The Hang Seng Tech Index slid as much as 2.9% Tuesday, the most since June 22, before paring some losses. Tencent slumped as much as 5.8%, the most in nearly six weeks, after Prosus NV on Monday said it intends to sell more of the mobile gaming… Source link