As part of a forthcoming package of proposed tax cuts, the White House is considering ways to incentivize U.S. households to invest in the stock market, according to four senior administration officials familiar with the discussions.
U.S. soybean exports to China fell to their lowest in nearly 10 months as the coronavirus outbreak has raised concerns about demand from the world's top buyer of the oilseed, the U.S. Agriculture Department said on Thursday.
S&P Global warned China on Thursday that its credit rating or its outlook could be downgraded if the government tried to offset the economic impact of the coronavirus with a
On Thursday, Alibaba reported revenue of 161.5 billion yuan (US$23.2 billion) in its fiscal third quarter, up 38% from 117.3 billion yuan a year ago. That improvement was made on the back of steady growth at its core commerce and cloud computing businesses, despite a slowdown in the domestic economy and China’s protracted trade war with the US.
China has not informed the United States of any delays or reductions of its planned purchases of U.S. agricultural goods under the Phase 1 trade deal due to the outbreak of coronavirus, U.S. Department of Agriculture Under Secretary of Trade Ted McKinney said on Wednesday.
Some 242 deaths from the new coronavirus were recorded in the Chinese province of Hubei on Wednesday - the deadliest day of the outbreak. There was also a huge increase in the number of cases, with 14,840 people diagnosed with the virus. Hubei has started using a broader definition to diagnose people - which accounts for most of the rise in cases.
Federal Reserve Chairman Jerome Powell said Wednesday the central bank would fight the next economic downturn by buying large amounts of government debt to drive down long-term interest rates, a strategy that has been dubbed quantitative easing, or QE.
Chinese e-commerce titan Alibaba Group Holding (BABA) - Get Report cannot be included in a stock connect program that allows mainland Chinese investors to buy shares in Hong Kong, according to a report.
A Chinese drugmaker said it has started mass-producing an experimental drug from Gilead Sciences that has the potential to fight the novel coronavirus, as China accelerates its effort to find a treatment for the widening outbreak.
Chinese President Xi Jinping warned top officials last week that efforts to contain the new coronavirus had gone too far, threatening the country’s economy, sources told Reuters, days before Beijing rolled out measures to soften the blow.
Geneva: The Trump administration is changing a key exemption to America’s trade-remedy laws to make it easier to penalize about two dozen so-called developing countries including China, India and South Africa.
Sony and Amazon have cancelled their presence at Mobile World Congress 2020 due to the coronavirus outbreak. LG, ZTE, Nvidia, and Ericsson have already cancelled various events that were set to take place at MWC in Barcelona, which is the biggest mobile technology trade show on the annual calendar. Following Sony and Amazon’s decision, TCL also announced it would not be holding a press conference at the show, but the company still plans to attend.
More than 300 Chinese companies are seeking bank loans totaling at least 57.4 billion yuan ($8.2 billion) to help to soften the impact of the coronavirus outbreak, two banking sources said.
Hong Kong’s largest real estate agencies, with nearly 900 sales offices in the city, are demanding price reductions for new leases as they expect sales to decline further after the industry’s worst year since 2016.
The consumer price index climbed 5.4% in January from a year earlier, the highest reading since October 2011, when the index grew 5.5%, the National Bureau of Statistics said Monday. The key inflation gauge was higher than December's 4.5% rise and above a median forecast of a 4.9% increase by economists in a Wall Street Journal poll.
Apple analyst Ming-Chi Kuo sees significant uncertainty surrounding iPhone production in China because of the ongoing coronavirus, and has detailed what he is seeing so far at Apple assemblers Foxconn and Pegatron.
U.S. Treasury Secretary Steven Mnuchin said on Thursday he expected China to maintain its commitment to boost purchases of American goods and service by at least $200 billion over the next two years, despite the coronavirus outbreak that has killed hundreds and jolted the Chinese economy.
China is slicing tariffs on $75 billion worth of U.S. products, Chinese government news agencies report. The move is in reciprocation for the Trump administration's plan, announced last month, to halve tariffs on about $112 billion in Chinese goods.
Hon Hai Precision Industry, known as Apple's supplier Foxconn, built its production line for surgical masks and asked employees to sign consent forms for returning to mainland China, so the company could resume its production in China on February 10, according to the Nikkei Asian Review.
There are strict restrictions on moving out of Wuhan, where the outbreak began, a city with a population of 11 million. The lockdown, also now extended to other parts of Hubei province, prevents business-related travel as well as the movement of goods and workers.