Hermes International SCA RMS, +7.01% on Friday maintained its medium-term growth goal as first-half earnings soared on record profitability and despite headwinds from lockdowns in China. The luxury-fashion company, known Read more
Tag: China
Politburo statement indicates Chinese economy will miss 2022 growth target
Chinese leaders all but acknowledged that the country would miss its annual growth target this year, while signaling that they would stay the course on zero-tolerance COVID-prevention measures and take only cautious Read more
U.S. trade deficit in goods narrows for third straight month in June
The numbers: The U.S. trade deficit in goods narrowed 5.6% to $98.2 billion in June, according to the Commerce Department’s advanced estimate released Wednesday. After jumping in May, the deficit Read more
China slaps $1.2 billion fine on ride-hailing giant Didi, citing cybersecurity breaches — WSJ
SINGAPORE–Chinese authorities fined ride-hailing company Didi Global Inc. the equivalent of about $1.2 billion, bringing an end to a year-long investigation into the company’s cybersecurity practices. The Cyberspace Administration of Read more
China’s holdings of U.S. Treasurys fall below $1 trillion, report shows
The amount of U.S. Treasury securities held by China fell below $1 trillion, according to data released late on Monday. The latest report from the Treasury Department showed that holdings Read more
Stellantis to terminate Jeep China joint venture
Stellantis NV said Monday that it will end the joint venture that makes and distributes its Jeep brand in China and focus on selling imported Jeep cars in the country. Read more
U.S. stocks open lower as China COVID restrictions bite
U.S. stocks opened lower on Monday one session after the Nasdaq Composite cemented its longest win streak since November as another spate of COVID restrictions in China added to concerns Read more
Oil prices sink as China tightens COVID-19 restrictions
Oil futures slumped Monday after China imposed curbs on activity in an effort to squelch a rise in COVID-19 cases. Also, U.S. President Joe Biden was scheduled to visit Saudi Read more
Stock futures slide as China COVID restrictions spark fresh global growth fears
U.S. stock futures stumbled on Monday as China COVID fears sparked fresh global growth concerns How are stock-index futures trading S&P 500 futures ES00 dipped 0.6%, or 24 points, to Read more
China EV makers’ shares rise as Beijing plans further support for auto sector
Shares of major Chinese electric car makers jumped in Hong Kong, as investors welcomed Beijing’s latest plan to launch more auto consumption stimulus measures. NIO Inc. NIO, +4.91% soared as Read more