China will step up supervision of Chinese firms listed offshore, its cabinet said on Tuesday, days after Beijing launched a cybersecurity investigation into ride-hailing giant Didi Global on the heels of its U.S. stock market listing. Under the new measures, China will improve regulation of cross-border data flows and security, crack down on illegal activity in the […] Read more
Newport Wafer Fab, the U.K.’s largest chip producer, is set to be acquired by Chinese-owned semiconductor company Nexperia for around £63 million ($87 million) next week, according to two sources close to the deal who asked to remain anonymous because the information is not yet public. Nexperia, a Dutch firm that is 100%-owned by China’s Wingtech […] Read more
The U.S. lags behind China and Europe when it comes to production and uptake of electric vehicles domestically, according to a new study by the International Council on Clean Transportation — and that gap widened from 2017 to 2020. The world manufactured more than 10 million electric passenger vehicles between 2010 and 2020, according to […] Read more
The closure of Hong Kong pro-democracy newspaper Apple Daily is a sign that press freedom is under threat in the semi-autonomous region, according to a representative of the Hong Kong Journalists Association. “The threat is clear, very clear that we have to learn lessons from Apple Daily,” Ronson Chan, chairperson of the Hong Kong Journalists Association, told […] Read more
Chinese ride-hailing giant Didi Chuxing on Thursday filed to go public in what could be one of the largest tech IPOs of this year, positioning large shareholders Uber and SoftBank for a win. The company reported $21.6 billion in revenue last year. It also posted a profit this past quarter on $6.4 billion in revenue. Specifically, the […] Read more
Even with headwinds from the Fed and inflation, a booming economy and strong earnings should send the market to a series of new highs this summer. The S&P 500 was lower Monday as the market meanders ahead of next week’s Fed meeting. The S&P 500 was slightly less than 20 points below the May 7 high […] Read more
Hong Kong senior executives of financial companies and their overseas affiliates who are fully vaccinated can now apply for an exemption from the three-week compulsory quarantine, the markets watchdog said. A maximum of two senior executives per each financial company licensed by the city’s Securities and Futures Commission (SFC) and two of their overseas affiliates […] Read more
Bitcoin’s price tumbled Friday following an intensified call from Chinese authorities to crack down on mining and trading of the cryptocurrency. Chinese Vice Premier Liu He and the State Council said in a statement that tighter regulation is needed to protect the financial system. The statement, released late Friday in China, said it is necessary […] Read more
The World Economic Forum said Monday that it has canceled a summer version of its annual meeting that was due to take place in Singapore. “Regretfully, the tragic circumstances unfolding across geographies, an uncertain travel outlook, differing speeds of vaccination rollout and the uncertainty around new variants combine to make it impossible to realise a […] Read more
Uneven vaccine rollouts and new waves of Covid outbreaks have made the global recovery story more muddled than in the United States, but veteran international investors say the top companies in these markets are well-equipped to weather another round of economic uncertainty. While the United States, United Kingdom and Israel are at or approaching 50% […] Read more
