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The Latest Breaking News from China

Energy Monster Expands Its Reach, But Gets Bitten by Covid

Key Takeaways: • Leading power bank provider Smart Share Global’s revenue fell 13% in the first quarter as it suffered from pandemic lockdowns • Company hopes to improve performance with more efficient new power bank cabinet set to launch by the end of this year

Benzinga

Methode Electronics Clocks 4% Revenue Decline In Q4 Due To Lower Sales Volumes In Auto Segment

Methode Electronics, Inc (NYSE:MEI) reported a fourth-quarter FY22 net sales decline of 4.1% year-on-year to $288.7 million, missing the consensus of $289.5 million. The decrease was due to lower sales volumes in the Automotive segment due to supply chain constraints and the conflict in Ukraine. EPS of $0.43 missed the consensus of $0.56.…

Benzinga

US LNG Exports To China Plummet By 95%: What You Need To Know

U.S. exports of liquefied natural gas (LNG) to China between February and April is down by 95% from the same period one year earlier, according to a Wall Street Journal analysis of Chinese government data.

Benzinga

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Vizag’s artistic skater Sahiti on a roll

With 76 medals, 19 of them at the national level, already in her kitty, she now looks forward to taking part in Asian championship to be held in China

The Hindu

Here's Why Alibaba Stock Looks Set To Soar

Alibaba Group Holdings, Inc (NYSE: BABA) stock is rallying in Thursday's trading session after closing slightly lower on Wednesday.

Benzinga

China's Xi criticises sanctions 'abuse', Putin scolds the West

Chinese President Xi Jinping on Thursday criticised "the abuse" of international sanctions, while Russian President Vladimir Putin scolded the West for fomenting global crisis, with both leaders calling for greater BRICS cooperation.

Reuters

F-star Therapeutics Shares Are Rallying Today - Read Why

invoX Pharma, a wholly-owned subsidiary of Sino Biopharmaceutical Limited, has agreed to acquire F-star Therapeutics Inc (NASDAQ:FSTX) for $7.12 per share. The proposed acquisition values F-star at approximately $161 million. Just a year ago, F-star priced its IPO at $7. F-star's next-generation tetravalent (2+2) bispecific antibody platform complements Sino Biopharma's existing capabilities and reinforces its global…

Benzinga

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Vladimir Putin Says Trade With China, India, Brazil And South Africa Has Jumped 38% Amid Western Sanctions

Russia on Wednesday said its trade with China, India, Brazil, and South Africa jumped over 38% in the first three months of the year, despite the "politically motivated sanctions" from the West.

Benzinga

Retailer that sells imports from China and India on Amazon and eBay handed £1.6m price tag

Blacks Business Brokers said the Deals Incorporated turnover about £800,000 in 2021

Birmingham Post

Elon Musk says his German and US factories are losing “billions of dollars”

The impact of supply chain problems in China on Tesla’s new battery factories in the US and Germany mean they are losing billions of dollars, according to the company’s multi-billionaire founder.

Evening Standard

Tesla Supplier CATL Becomes First Non-Korean Firm To Ship EV Batteries To Kia

Tesla Inc (NASDAQ: TSLA) China supplier CATL has shipped electric vehicle batteries to South Korea’s Kia Corp, a subsidiary of Hyundai Motor Company, Reuters

Benzinga

Uber Had Weighed Strategic Options For Indian Business At One Point

Uber Technologies, Inc (NYSE:UBER) had weighed strategic options for its Indian ride-hailing business, including a sale, but suspended discussions following the meltdown in tech startup valuations, the Bloomberg reports. Uber began weighing alternatives, including a stock swap with local companies or a pullout, before a global equity market selloff spoilt the plans.…

Benzinga

Ladakhi nomads along tense India-China border struggle to survive

Locals say army buildup at disputed frontier snatches their safety and rights over land they have traditionally owned.

Al Jazeera

Why JPMorgan Is Doubling Down On Alibaba, JD And Other Chinese Tech Stocks This Year

China's tech stocks have been stuck in a rut since early 2021 and the selling in the space hasn't abated; investment bank JPMorgan sees an opportunity in these beaten-down stocks.

Benzinga

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The Conversation

Grattan on Friday: Anthony Albanese has a lot on the go in the 'back office' of government

Anthony Albanese will be on the international road again next week. He’ll be at the NATO summit in Madrid, where the war in Ukraine will obviously dominate the discussions, which will also canvass China and climate change.

The Hindu

India completely central to Australia’s worldview, says Deputy PM Richard Marles

China is seeking to shape the world around it in a way that ‘we have not seen before,’ he says.

Benzinga

Here's Why Alibaba Shares Are Trading Higher Premarket

Alibaba Group Holding Limited (NYSE:BABA) founder Jack Ma's Ant Group Co is likely to apply for a critical financial license by June, Bloomberg reports. The move signals the fintech giant is getting closer to satisfying China's financial regulators, who quashed its listing ambitions in 2020. It followed a broader crackdown that erased over $1 trillion in…

Reuters

G7 hopes to show unity on Ukraine despite darkening economic outlook

The Group of Seven rich democracies will seek to demonstrate their long-term support for Ukraine in its fight against Russian aggression at a summit starting on Sunday even as the war's growing impact on the world economy tests their resolve.

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Asharq Al-Awsat

China's Xi Calls for Stronger Fintech Oversight, Security

A high-level Chinese government meeting led by President Xi Jinping has called for stronger oversight and better security in financial tech, state media reported, with the sector hit hard by a regulatory crackdown. The government action has pummeled some of China's biggest tech firms, wiping out hundreds of billions of…

Caixin Global

Shanghai Composite Index Rose 1.62% on Thursday

Shenzhen Component Index closed up 2.19%

Reuters

China's coastal ecosystems still unhealthy despite recent progress, official says

Most of China's marine ecosystems are still in poor health despite recent improvements, and more efforts are needed to restore, protect and monitor coastal waters, an environment ministry official said on Thursday.

Reuters

Record numbers of Chinese graduates enter worst job market in decades

Jenny Bai was among 10 high-performing computer science students from different Chinese universities selected by a Beijing-based internet firm for a job upon graduation, following four rounds of arduous interviews.

The Hindu

Yamaha likely to bring NMax 155 to India

Yamaha has launched the updated NMax 155 scooter, which is based on the Aerox 155, in China. Conside

The Independent UK

China hosts BRICS meeting amid rising economic concerns

Chinese President Xi Jinping is hosting a virtual summit with the leaders of Brazil, Russia, India and South Africa collectively known as the “BRICS," amid rising concerns over the global economic outlook and a growing political divide between Beijing and New Delhi

Al Jazeera

China’s Xi talks of Russia-Ukraine war as ‘alarm for humanity’

Speaking at a virtual business forum, Chinese president also questions the utility of sanctions against Russia.

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