President Donald Trump announced early Friday he and first lady Melania Trump have tested positive for coronavirus, plunging the United States into further upheaval and uncertainty just over a month away from Election Day. The White House physician said the president and first lady were “both well” at the moment. In a tweet shortly before 1 a.m. ET, Trump […] Read more
Google said it will pay publishers around $1 billion for news over the next three years. The pledge was announced by Google Chief Executive Sundar Pichai in a blog post on Thursday. “I have always valued quality journalism and believed that a vibrant news industry is critical to a functioning democratic society,” Pichai said. News publishers including […] Read more
As China’s leaders get ready to release their national development plan for the next five years, some government advisors emphasize the priority is building up China’s domestic strength. Chinese authorities have stepped up their efforts to shift the economy from one reliant on exports to one driven by domestic consumption. The country faces the shock […] Read more
China — The U.S. government has reportedly imposed restrictions on exports to SMIC, China’s biggest chip manufacturer, a move that threatens Beijing’s push to become more self-reliant in one of the most critical areas of technology. Suppliers for certain equipment to SMIC will need to apply for an export license, according to a letter sent to […] Read more
Not all of China is recovering from the economic hit from coronavirus at the same rate, survey finds
The economic recovery in China from the shock of the coronavirus is only happening in part of the country, according to an independent survey by the China Beige Book released Thursday. The world’s second-largest economy was the first country to get hit by the coronavirus pandemic. More than half the country shut down in early February […] Read more
Stocks fell sharply on Monday as fears about the worsening coronavirus as well as uncertainty on further fiscal stimulus rattled traders. The Dow Jones Industrial Average dropped 804 points, or 2.9%. The S&P 500 lost 2.6% while the Nasdaq Composite fell 2.3%. Monday’s decline put the Dow on pace for its worst day since June […] Read more
The haggling over TikTok is the latest signal of a change in U.S.-China deal-making: rather than buying each other, companies may soon be looking to sell their cross-border holdings. Amid the shock of the coronavirus pandemic and escalating U.S.-China tensions in the first half of this year, the total value of foreign direct investment and venture capital […] Read more
Goldman Sachs expects the onshore Chinese yuan to strengthen to 6.5 per dollar over the next 12 months, according to Timothy Moe, co-head of Asia macro research and chief Asia-Pacific equity strategist at Goldman Sachs. “We’ve recently firmed up … in particular, our Chinese renminbi forecast from 6.7 to 6.5 on a 12 month view,” Moe told […] Read more
The World Trade Organization ruled that additional tariffs imposed in 2018 by the United States on Chinese goods violated international trading rules, a blow to the Trump administration’s trade war against the world’s second-largest economy. A three-person panel of WTO trade experts said Washington broke with global regulations in 2018 when it slapped more than […] Read more
The U.S. State Department updated its travel advisory on Hong Kong based on China’s implementation of a national security law widely seen as eroding freedom in the once-autonomous city. “Since the imposition of national security legislation on July 1, the PRC unilaterally and arbitrarily exercises policy and security power in Hong Kong,” the State Department […] Read more
