Latest in China’s Cash
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China loses third of its billionaires as economy falters
ByteDance chief Zhang Yiming leads country’s ‘rich list’ with $49bn fortuneWorld - Financial Times - October 29 -
TikTok founder becomes China's richest man
Zhang Yiming's fortune has leapt to almost $50bn, according to a newly published rich list.Top stories - BBC News - October 29 -
India's growing influence means trouble for China’s alliance
India is becoming more important, something not good for China.Politics - The Hill - October 29 -
FirstFT: Harris calls on America to ‘turn the page’ on Trump
Also in today’s newsletter, Ukraine and Russia hold secret talks, while Alphabet and Reddit shares rise after resultsWorld - Financial Times - October 30 -
China’s Latest Security Target: Halloween Partygoers
Last year, the Shanghai government said Halloween celebrations were a sign of “cultural tolerance.” This year, the police rounded up people in costume.World - The New York Times - October 30 -
Volkswagen profit plunges 64% as China sales slide
Europe’s largest carmaker highlights ‘urgent need’ for cost reductions and efficiency gainsBusiness - Financial Times - October 30 -
UK borrowing costs rise as Reeves’ spending plans unnerve investors
Ten-year gilt yield hits five-month high after chancellor’s first BudgetBusiness - Financial Times - October 30 -
AstraZeneca China president under investigation by Chinese authorities
British drugmaker says Leon Wang is ‘co-operating with an ongoing investigation’Business - Financial Times - October 30 -
How Volkswagen Lost Its Way in China
A brutal price war, sudden shifts in consumer demand and human rights issues in Xinjiang have left VW stumbling in a market it led for 40 years.Business - The New York Times - October 31 -
China warning hits another medical equipment maker
Smith & Nephew shares slumped on Thursday as it became the second health equipment company in a week to warn that Chinese sales were getting hit hard.Business - MarketWatch - October 31 -
Smith & Nephew cuts outlook on China weakness
FTSE 100 medical manufacturer reports price pressures and worse-than-expected demandWorld - Financial Times - October 31 -
AstraZeneca Probe in China Adds to Concerns for Foreign Businesses
An investigation involving the drugmaker’s China president is the latest crackdown to trigger uncertainty in the industry about Beijing’s intentions.Business - The Wall Street Journal - October 31 -
Taiwan braces for US election as China tensions rise
TAIPEI -- Taiwan is bracing for the results of the U.S. election, with some officials worried about what a new Trump administration could mean given the former president’s isolationist views. On ...Politics - The Hill - November 2 -
China Isn't Planning a 'Bazooka' Stimulus---at Least Not This Year
Hopes that China is awaiting the results of the U.S. election to unveil a huge stimulus package are unikely to be fulfilled, though a smaller package is expected soon.World - The Wall Street Journal - November 4 -
China consumer slowdown weighs on U.S. earnings again
From Apple to Starbucks, U.S. consumer brands are reporting yet another quarter of China sales declines.Business - CNBC - November 5 -
Ferrari reiterates guidance as China deliveries fall sharply
Ferrari on Tuesday reiterated guidance that it had increased earlier in the year as the sports-car maker said shipments fell sharply in China.Business - MarketWatch - November 5 -
Beijing prefers neither: China’s view of the US election
China’s approach could be summarized as calibrating its strategies to account for the leader in the Oval Office in the areas of economy, foreign policy and Taiwan.Politics - The Hill - November 5 -
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AstraZeneca shares fall as China probe intensifies
Investigation of group’s China chief Leon Wang comes after several employees were found guilty of fraudWorld - Financial Times - November 5 -
China woes weigh on profits at Toyota, Honda and BMW
Even the strongest international carmakers are suffering from intense competition in the Chinese marketWorld - Financial Times - November 6 -
The New Investment Superpower Outflanking China and the U.S. in Africa
The tiny United Arab Emirates has invested billions in east Africa, where it is now emerging as a significant player, at times muscling out China and annoying the U.S.World - The Wall Street Journal - November 6 -
AstraZeneca’s top China executive detained by authorities
Pharmaceutical group confirms four other current and ex-executives investigated, in addition to Leon WangWorld - Financial Times - November 6 -
China Has Detained a Senior AstraZeneca Executive
Leon Wang, executive vice president in charge of China and the broader Asian region, is being detained while the Chinese government is probing AstraZeneca employees, the drugmaker says.Business - The Wall Street Journal - November 6 -
China approves $840B plan to refinance local government debt, boost slowing economy
China has announced a 6 trillion yuan ($839 billion) plan to help local governments refinance their mountains of debt in the latest push to rev up growth in the world's second largest economyWorld - ABC News - November 8 -
US citizen arrested in Germany on suspicion of spying for China
An American citizen who allegedly spied for China was arrested on Thursday, Germany's federal prosecutor office said, as reported by The Associated Press. The suspect, Martin D., was arrested in ...Politics - The Hill - November 8 -
Indonesia’s president seeks closer ties to Xi and China
First foreign trip in office signals Beijing’s importance for investment but will be followed by US visitWorld - Financial Times - November 8 -
Richemont Sales Fall as Luxury's China Woes Linger
The Cartier owner said weaker consumer spending in China hit sales as a luxury downturn that is hurting most of the players in the industry rumbles on.Business - The Wall Street Journal - November 8
