Chinese developers are facing the biggest liquidity test in more than four years, exacerbating challenges brought on by stringent funding restrictions and a prolonged profitability drop. Cash reserves of the nation’s 50 largest-listed homebuilders were just enough to cover short-term debt as at June 30, the least since 2016 when China began deleveraging its economy, […] Read more
Amid Tesla’s record rise that has seen shares soar to new highs, the company said Tuesday that it will sell up to $5 billion in stock. The additional shares will be sold “from time to time” and “at-the-market” prices, a filing with the Securities and Exchange Commission said. Banks will sell shares based on directives from Tesla. […] Read more
Walmart and Microsoft might seem like an unlikely partnership to acquire TikTok’s U.S. assets, but until very recently the retailer had other plans. Before teaming up with Microsoft in recent days, Walmart was part of a consortium put together by SoftBank Chief Operating Officer Marcelo Claure, which also included Google parent company Alphabet, according to people familiar with the matter. SoftBank’s Claure […] Read more
Facebook CEO Mark Zuckerberg warned President Donald Trump at a White House dinner last October that Chinese tech firms posed a direct threat to the U.S. business, according to a report from The Wall Street Journal that cites people claiming to be familiar with the matter. He is said to have argued that clamping down on these […] Read more
Over $50 billion of cryptocurrency moved from China-based digital wallets to other parts of the world in the last year, pointing to possibilities that Chinese investors are transferring more money than allowed out of the country, a new report claims. Chinese citizens are only allowed to buy up to $50,000 of foreign currency a year […] Read more
Walmart’s online shopping strategy is paying off in China, arguably one of the most developed e-commerce markets in the world. The giant discount retailer reported Tuesday that net e-commerce sales in China grew 104% from a year ago in the three months ended July 31. That’s a faster pace than the 97% growth posted for net e-commerce […] Read more
White House senior advisor and the U.S. president’s son-in-law, Jared Kushner, has defended the Trump administration’s strategy to combat the coronavirus pandemic, saying others have tried to use the crisis to “play politics” — but not President Donald Trump. “Some people have chosen to play politics with the pandemic, President Trump has opted not to politicize it and […] Read more
The U.S. and China will reportedly review the progress of their “phase one” trade deal later this week — roughly six months after the agreement came into effect. The deal paused a damaging trade war — involving retaliatory tariffs being slapped on billions of dollars worth of goods — between the world’s top two economies that started […] Read more
When the coronavirus pandemic forced restaurants to shut their dining rooms, many chains slimmed down their menus to make service smoother — and some of those changes may be permanent. States and cities across the country are easing restrictions, but menus are unlikely to snap back to their pre-pandemic status. Bloated menus can overwhelm customers, slow down […] Read more
Chinese state media labeled the U.S. a “rogue country” and dubbed the potential sale of social media firm TikTok to Microsoft as “theft,” adding that Beijing could retaliate if a deal is sealed. Microsoft announced plans on Sunday to acquire TikTok’s business in certain markets — the U.S., Canada, Australia and New Zealand. Commenting on the matter, President […] Read more
