News

China

Reuters | Equities.com |

Tesla Inc said on Monday it would start exporting China-made Model 3 cars to more than 10 European countries this month, joining a growing number of automakers using China as an export hub for electric vehicles.

The U.S. carmaker, which started delivering vehicles made in its Shanghai factory in December, will export China-made cars this month to countries including Germany, France, Italy and Switzerland, it said in a statement.

...


Reuters | Equities.com |

By Yilei Sun and Brenda Goh

BEIJING (Reuters) - General Motors Co (GM) on Monday said continued market recovery from the COVID-19 crisis helped its China vehicle sales grow 12% on year in July-September, marking the Detroit automaker's first Chinese quarterly sales growth in two years.

The second-biggest foreign automaker in China by units - after Germany's Volkswagen AG - said on Monday it delivered 771,400 vehicles in China in the third quarter. That followed a 5% fall in the se...


Reuters | Equities.com |

Chinese chipmaker Semiconductor Manufacturing International Corporation has undertaken “preliminary exchanges” with the U.S. Bureau of Industry and Security regarding export restrictions, the company said on Sunday in a filing.

“The Company is conducting assessments on the relevant impact of such export restrictions on the company’s production and operation activities,” the filing to the Hong Kong Stock Exchange said.

SMIC also...


Reuters | Equities.com |

The Vatican said on Wednesday it had denied a request from Mike Pompeo for an audience with Pope Francis, and accused the Secretary of State of trying to drag the Catholic Church into the U.S. presidential election by denouncing its relations with China.

The extraordinary remarks from the two top diplomatic officials at the Vatican came after Pompeo accused the Church in an article and a series of tweets this month of putting its “...


Reuters | Equities.com |

(Reuters) - Sogou Inc said on Tuesday shareholder Tencent Holdings Ltd would take the web search firm private in a $3.5 billion deal, making it the latest Chinese company to exit U.S. markets as tensions mount between the world’s two largest economies.

U.S.-listed shares of Sogou were up about 3% in premarket trading.

The move comes a day after Chinese social network Weibo’s owner Sina Corp said it would be taken private in a $2.6 billion deal. Rival e-commerce firms A...


AP News | Equities.com |

A federal judge on Sunday postponed a Trump administration order that would have banned the popular video sharing app TikTok from U.S. smartphone app stores around midnight.

A more comprehensive ban remains scheduled for November, about a week after the presidential election. The judge, Carl Nichols of the U.S District Court for the District of Columbia, did not agree to postpone the later ban.

The ruling followed an emergency hearing Sunday morning in which lawyers for TikTok argued that the administration’s app-store ban would infringe on First Amendment rights and do irreparable harm to the business.


AP News | Equities.com |

Stocks on Wall Street shrugged off an early slide and closed higher Tuesday, halting the first four-day losing streak since the market was selling off in the early days of the pandemic.

The S&P 500 climbed 1.1%, led by solid gains in technology and communications stocks, and companies that rely on consumer spending. Banks, health care and energy stocks closed lower. Homebuilders surged following a report showing U.S. home sales jumped in August to their highest level since 2006.

The gains helped the market recover some of its losses a day after stocks tumbled amid a raft of worries about the pandemic and governments’ response to it.


Reuters | Equities.com |

U.S. President Donald Trump used the U.N. General Assembly on Tuesday to attack China’s handling of the coronavirus pandemic, saying it must be held accountable for having “unleashed this plague onto the world.”

By contrast, China’s President Xi Jinping struck a conciliatory tone in his pre-recorded virtual address to the General Assembly, calling for enhanced cooperation over the pandemic and stressing that China h...


Reuters | Equities.com |

Intel Corp has received licences from U.S. authorities to continue supplying certain products to Huawei Technologies, an Intel spokesman said on Tuesday.

With U.S.-China ties at their worst in decades, Washington has been pushing governments around to world to squeeze out Huawei, arguing that the telecoms giant would hand data to the Chinese government for espionage.

From September 15, new curbs have U.S. companies from supplying or servicing Huawei.

This week the state-backed China Securities Journal said Intel had received permission to supply Huawei.


Reuters | Equities.com |

Even as dealmakers bicker over who will actually own TikTok Global, another question emerged after President Donald Trump agreed over the weekend to keep the wildly popular video-sharing app running in the United States for another week: how can they possibly create 25,000 new jobs in the United States?

That vow, repeated by the president on Saturday at a campaign rally in North Carolina, was part of a concession that dealmakers offered to convince Trump to green-light a transaction in which a new board comprised of U.S. citizens would oversee a new U.S.-based company and co-owned by Oracle Corp and Walmart Inc.