Why China’s power crunch is such a big deal
Abrupt factory blackouts in the last week reflect a system trying to react to a number of directives from Beijing and macroeconomic developments.
Financial News
China’s power crunch pushes foreign businesses to invest in factories elsewhere
In the last several days, many local Chinese governments have restricted power usage, limiting or even halting factory production.
Evergrande to sell $1.5 billion stake in Chinese bank, as it faces another bond interest payment
Indebted Chinese developer Evergrande is set to sell off a 9.99 billion yuan ($1.5 billion) stake it owns in a Chinese bank to a Chinese state-owned asset management firm.
As China cracks down, foreign companies try to figure out where they fit in
Foreign companies are trying to hold on to lucrative opportunities in China, even if new regulations and the pandemic have made global operations harder.
China will likely fail in its CPTPP bid — but it’s a ‘smart’ move against the U.S., say analysts
China’s application to join the mega trade pact stands in contrast to the U.S.’ lack of economic policy in Asia-Pacific, analysts said.
Tesla drivers can now request Full Self-Driving Beta with the press of a button, despite safety concerns
Tesla rolls out ‘FSD Beta button’ after NTSB Chair Jennifer Homendy voiced safety concerns
China- and Hong Kong-based bitcoin holders scrambling to protect their crypto assets
Some crypto holders in China and Hong Kong are scrambling to safeguard their crypto assets, according to an attorney who works with overseas crypto clients.
Evergrande stays silent on its $83 million dollar bond interest payment, leaving investors in limbo
Chinese property developer Evergrande has not said whether it will fulfil its interest payments to investors on its U.S.-dollar bond.
Hong Kong’s Hang Seng jumps 1%; Evergrande shares surge more than 12% after days of losses
Questions remain over whether embattled Chinese developer China Evergrande Group will pay the interest due on a dollar-denominated bond on Thursday.
The Fed will try to soothe markets Wednesday, while preparing investors for end to bond buying
After Monday’s market turbulence, the Fed’s challenge will be to sound reassuring while acknowledging it is getting ready to move away from its easy policy.