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Greenspan Says U.S. Virus Failure Threatens Recovery, Aids China
The failure of the U.S. to handle the coronavirus pandemic risks derailing the economic recovery and puts the country at a competitive disadvantage in its long-run battle with China for global hegemony, former Federal Reserve Chairman Alan Greenspan said.
18
Oracle is reportedly in talks to buy TikTok’s US business
Oracle has expressed an interest in acquiring TikTok, according to the Financial Times, giving Microsoft a potential competitor in its bid to control the Chinese social video app in the US.
17
Shenzhen becomes first mainland city to be covered by high-speed telecom network
Shenzhen mayor Chen Rugui commented at a press conference on Monday morning that the city now has access to the pure 5G networks. That was interpreted by traders as a sign that Shenzhen has officially entered the 5G era and construction of the new networks will be accelerated in rest of the country.
17
Thailand Q2 GDP contracts 12.2% amid COVID-induced recession
Thailand recorded the largest economic contraction in 22 years in the quarter ending June, keeping Southeast Asia's second-largest economy trapped in a coronavirus-induced recession.
17
China July rare earth exports sink to lowest since Jan 2015
China’s rare earth exports plunged 44% in July from the previous month, customs data showed on Friday, hitting their lowest in 5-1/2 years in a sign that the coronavirus has destroyed demand for the prized group of 17 minerals.
14
China's July retail sales slide continues, industrial output climbs
China’s retail sales unexpectedly fell in July from a year ago,while the comeback in factory output was slower than forecast amid signs the recovery in the remains fragile.
14
George Soros says the stock market is trapped in a Fed-fueled liquidity bubble
The Federal Reserve's monetary relief flooded markets with liquidity, but prices now rest on shaky foundations, according to the billionaire investor George Soros.
13
China Mobile : First-Half Net Profit Slipped 0.5%
China Mobile Ltd.'s net-profit in the first half of the year slipped 0.5%, as weaker margins offset a slight increase in operating revenue.
13
TikTok in early talks with RIL to sell its India business
TikTok CEO Kevin Mayer has reportedly approached senior RIL executives to gauge if the oil-to-telecom conglomerate is interested in picking up a stake in the app’s India unit.
11
Total (China) Investment Partners With Alibaba to Drive Its Digital Transformation
Total (China) Investment (the Company) has signed a Memorandum of Understanding (MoU) in order to pursue strategic collaboration with Alibaba Group ("Alibaba") (NYSE: BABA; SEHK: 9988) and leverage their respective resources to drive the digital transformation of the Company’s operations in China.
11
BoE to step up quantitative easing if economy slows again, deputy governor says
The Bank of England will step up on quantitative easing (QE) if the British economy slows and struggles again, Deputy Governor Dave Ramsden said in an interview published on Tuesday, adding to his previous comments that BoE has more headroom to act.
7
White House, Democrats fail to find breakthrough on stimulus
Negotiations on a virus relief package ended last night with the White House and Democrats making no headway on resolving their biggest difference, bringing the talks to the brink of collapse.
7
China July exports rise at fastest pace in seven months, but imports fall
China’s exports rose at the fastest pace in seven months in July, while imports declined, painting a mixed picture for the economy as it recovers from its pandemic-induced slump.
7
TikTok and WeChat: Trump signs orders on 'threat' of major Chinese apps
US President Donald Trump has signed executive orders targeting TikTok and WeChat, two of China's biggest apps. Under the orders, US firms must stop doing business with the companies within 45 days.
5
Japan to extend special employment subsidy for firms
Japan’s labour ministry is working to extend a special employment subsidy to help firms hit by the coronavirus pandemic that would keep furloughed workers on the payroll, the Nikkei business daily reported on Wednesday.
5
Tencent in Talks to Create $10 Billion Streaming Giant
Tencent Holdings Ltd. is driving discussions to merge China’s biggest game-streaming platforms Huya Inc. and DouYu International Holdings Ltd., people familiar with the matter said, in a deal that would allow it to dominate the $3.4 billion arena.
4
Alibaba's Ant targets largest-ever $30bn IPO: report
Ant Group, the fintech affiliate of Chinese e-commerce leader Alibaba Group Holding, is looking to raise a record $30 billion in its planned IPO, Chinese financial and business news media group Caixin reported on Monday.
4
Trump says nationwide lockdown would ‘ultimately inflict more harm than it would prevent’
President Donald Trump insisted Monday that shutting down the United States in an attempt to curb the coronavirus would cause more harm than good, doubling down on previous comments that he would not call for a nationwide lockdown.
3
China factory activity expands at fastest pace in nearly a decade: Caixin PMI
China’s factory activity expanded at the fastest pace in nearly a decade in July as domestic demand continued to improve after the coronavirus crisis, though export orders and employment remained weak, a private business survey showed on Monday.
3
Samsung crafts India comeback as anti-China wave surges
Samsung Electronics Co Ltd (005930.KS) is forging a comeback in India’s smartphone market with a new range of budget devices and a ramped-up online presence, aiming to recoup ground ceded to Chinese rivals such as Xiaomi Corp (1810.HK).