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China

Kimberly Redmond | Equities.com |

A reported plan to restructure Ant Group Co from a fintech giant into a financial holding company is a “step in the right direction,” a financial analyst told CNBC Monday.

According to Bloomberg, Ant Group and Chinese regulators agreed last week on the restructuring, which would move all of the company’s businesses, such as food delivery and blockchain, into the holding company and make it subject to capital requirements similar to those for banks.


Kimberly Redmond | Equities.com |

Jack Ma, the billionaire founder of e-commerce giant Alibaba Group, was not included in a list of China’s entrepreneurial leaders published by state-run media, a snub that follows growing regulatory scrutiny of his businesses.

On Tuesday, the Shanghai Securities News praised prominent Chinese business leaders in an article about "entrepreneurial spirit." While tech entrepreneurs such as Tencent's Pony Ma and Huawei's Ren Zhengfei were mentioned, Ma was noticeably absent.


Reuters | Equities.com |

By Akanksha Rana and Tina Bellon

(Reuters) - Tesla Inc’s fourth-quarter profit fell short of Wall Street expectations on Wednesday and the company failed to provide a clear target for 2021 vehicle deliveries, sending shares down 4.4% in extended trade.

The disappointing results come after shares of the electric carmaker led by CEO Elon Musk surged nearly 700% over the past 12 months, a valuation rooted in expectations that Tesla will quickly and profitably e...


Reuters | Equities.com |

Apple Inc on Wednesday reported holiday quarter sales and profits that beat Wall Street expectations, as new 5G iPhones helped push handset revenue to a new record and sparked a 57% rise in China sales.

Apple shipped its iPhone 12 lineup several weeks later than usual, but an expanded number of models and new look appear to have tapped into pent up demand for upgrades, especially in China. The company also posted strong sales of its Mac laptops and iPads in the quarter, driven by consumers working, learning and playing from home during the pandemic.


Reuters | Equities.com |

China’s Huawei Technologies Co Ltd is in early-stage talks to sell its premium smartphone brands P and Mate, two people with direct knowledge of the matter said, a move that could see the company eventually exit from the high-end smartphone-making business.

The talks between the world’s largest telecommunications equipment maker and a consortium led by Shanghai government-backed investment firms have been going on for months, the people said, declining to be identified as the discussions were confidential.


Kimberly Redmond | Equities.com |

Jack Ma, the billionaire founder of Chinese e-commerce giant Alibaba, made his first public appearance after weeks out of the spotlight amid growing regulatory scrutiny.

Ma resurfaced Wednesday in an online ceremony for rural teachers organized by his charity, easing worry about his whereabouts and boosting Alibaba’s Hong Kong-listed stock up 9%, according to CNBC.


Reuters | Equities.com |

U.S. President Donald Trump’s trade war with China has caused a peak loss of 245,000 U.S. jobs, but a gradual scaling back of tariffs on both sides would boost growth and lead to an additional 145,000 jobs by 2025, a study commissioned by the U.S.-China Business Council (USCBC) shows.

The group, which represents major American companies doing business in China, said the study by Oxford Economics also includes an “escalation scenario” which estimates a significant decoupling of the world’s two largest economies could shrink U.S. GDP by $1.6 trillion over the next five years. This could result in 732,000 fewer U.S. jobs in 2022 and 320,000 fewer jobs by 2025, it said.


Reuters | Equities.com |

The Trump administration in its waning days took another swipe at China and its biggest firms on Thursday, imposing sanctions on officials and companies for alleged misdeeds in the South China Sea and imposing an investment ban on nine more firms.

The moves will further increase tensions with China, Washington’s strategic rival in Asia, days before President-elect Joe Biden takes office on Wednesday. The Biden transition team did not immediately respond to a request for comment.

Executives of state-owned enterprises, officials of the Chinese Communist Party and military, along with oil giant CNOOC will face new restrictions for allegedly using coercion against states with rival South China Sea claims.


AP News | Equities.com |

The U.S. trade deficit jumped to $68.1 billion in November, the highest monthly deficit in 14 years, as a surge in imports overwhelmed a smaller increase in exports.

The November gap between what America buys from abroad compared to what it sells abroad rose by 8% from the October deficit of $63.1 billion, the Commerce Department said Thursday.

The increase reflected a 2.9% increase in imports of goods and services to $252.3 billion on a se...


Reuters | Equities.com |

The New York Stock Exchange said on Wednesday it will delist three Chinese telecom companies, confirming its latest reversal on the matter a day after U.S. Treasury Secretary Steve Mnuchin told the NYSE chief he disagreed with an earlier decision to reverse the delistings.

The latest move, which is effective Jan. 11, marks the third time in less than a week the Big Board has ruled on the matter. The flip-flopping highlights the confusion over which firms were included in an executive order issued by President Donald Trump in November barring U.S. persons from investing in publicly traded companies Washington deems to be tied to the Chinese military.