‘A real big deal’: Biden backs economic corridor as shifting geopolitical alliances fragment the global economy
China’s BRI offers a glimpse into Biden’s ambition and perhaps what his infrastructure pact will come up against.
Financial News
More companies, especially airlines, warn higher costs will eat into profits
UPS and airlines are digesting big new labor deals, while Hollywood and the auto industry are at odds with unions.
Ray Dalio says to hold cash ‘temporarily’ — but don’t buy debt and bonds
Amid mounting concerns over rising interest rates and inflation levels Bridgewater Associates’ founder Ray Dalio said he prefers cash over bonds.
China’s retail sales surprise with faster growth, up 4.6% in August
China’s retail sales and industrial production picked up pace in August with better-than-expected growth, according to National Bureau of Statistics data.
What is shadow banking? Unpacking the risks for China
China’s real estate market woes have again drawn attention to the world of shadow banking and the risks it poses to the economy.
Elizabeth Warren calls for an investigation into Musk and Starlink in Ukraine after biography claim
In his book titled “Elon Musk,” released Tuesday, Walter Isaacson details Musk’s policy of geofencing Starlink’s satellite network over Crimea last year.
How Luckin Coffee overtook Starbucks as the largest coffee chain in China
Luckin Coffee hit 10,000 stores in China in June, surpassing Starbucks as the largest coffee chain brand in the country following rapid nationwide expansion this year.
Shares of Alibaba tumble over 3% after outgoing CEO unexpectedly quits cloud business
The move comes just months after announcing a June announcement that Zhang was departing as chairman and CEO of Alibaba Group to focus on the cloud intelligence unit.
G20 nations soften Russia condemnation to reach Delhi summit compromise, draw Ukraine’s ire
There were fears Delhi negotiators and diplomats might not be able to broker a consensus at this year’s meeting due to Russian and Chinese objections on the reference to the …
India’s policy contradictions are making it harder for investors to crack its market
When India abruptly announced trade restrictions on personal computers and laptops in early August, it caught major suppliers like Apple, Samsung and Dell by surprise.