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The Latest Breaking News from China

Asian shares mixed in light 'Golden Week' trading

Asian shares are mixed in light “Golden Week" trading with markets in China, Japan and some other countries closed for holidays

The Independent UK

Bowls of beloved 'soba' noodles will cost more

TOKYO: Ryu Ishihara will soon be raising prices on his inexpensive bowls of soba noodles for the first time in nearly a decade, as rising costs and Russia's invasion of Ukraine take an unlikely toll on Japan's beloved buckwheat noodles.

Bangkok Post

Pacific nations walk geopolitical tightrope over Ukraine war, as nuclear legacy looms

Pacific leaders have broadly lambasted the Russian assault, but some countries have resisted outright condemnation of the superpower

The Guardian - AU

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‘Not a businessman’: Hong Kong’s next chief faces test on economy

John Lee to take over business hub as economy languishes after two years of political crackdowns and pandemic controls.

Al Jazeera

Shanghai reports 20 new COVID-related deaths, down from 32 a day earlier

China's eastern financial hub Shanghai reported 20 new COVID-19 deaths on May 2, down from 32 a day earlier, the local government said on Tuesday.

Reuters

The most controversial Met Gala themes of all time

From punk and China to Catholicism

The Independent UK

In 35 years of reporting from Solomon Islands, I’ve never seen the secrecy of the last few months

Journalists have been chased from parliament by police and attacked by the prime minister. Now more than ever we need a free press

The Guardian - AU

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Markets Rally Into Close To Get New Month Started On Positive Note

U.S. indices rallied into Monday's close as stocks recovered following Friday's weakness. Federal Reserve rate hike concerns, the Russia-Ukraine conflict, China COVID cases and earnings have pressured markets in recent sessions. The ISM manufacturing PMI dropped for a second straight month to 55.4 in April from 57.1 in March. Analysts…

Benzinga

Musk’s grand vision for Twitter faces reality check in Asia

For all the furor about which way Elon Musk might tilt U.S. political discourse after getting the keys to Twitter Inc., his biggest challenges may emerge across the Pacific.

Tribune News Service

Australians stuck in Shanghai's COVID lockdown beg consular officials to help them flee

Some Australians caught up in Shanghai's extreme five-week lockdown say the Australian government has done little to help its citizens in distress, and they're pleading with Canberra to arrange charter flights to get them home.

ABC News

Mizuho Continues To See Upside In Alibaba, JD, Baidu, Dada Amid Odds

Mizuho saw a challenging 1H22 for China's internet, given the ongoing disruptions to consumer spending and business activities from COVID restrictions. Mizuho expects the negative impact to spread across all internet segments, including e-commerce, advertising, and cloud computing.

Benzinga

China backs Sri Lanka's decision to work with IMF to restructure debt

China supports crisis-hit Sri Lanka's decision to work with the International Monetary Fund (IMF) to restructure its debt, Beijing's ambassador Qi Zhenhong told Sri Lankan Finance Minister Ali Sabry at a meeting on Monday.

Reuters

Eaton Agrees To Acquire 50% Stake In Huineng's Circuit Breaker Business For Undisclosed Sum

Eaton Corporation PLC (NYSE:ETN) has agreed to acquire a 50% stake in the circuit breaker business of Jiangsu Huineng Electric Co., Ltd. (Huineng). Deal terms were not disclosed. Huineng manufactures and markets low-voltage circuit breakers in China and reported FY21 revenues of $35 million. This transaction expands Eaton's reach to renewable energy, commercial…

Benzinga

XPeng Increased EV Sales In April Despite Challenges In China

XPeng reports that its electric car sales in April increased by 75% YOY to 9,002, which is a pretty solid result, considering the current situation in China.

InsideEVs

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The Hindu

Indian professionals in China urge Jaishankar to press Chinese govt. to permit return of their families

“The work for Indian students’ return has already been started.” Chinese Foreign Ministry spokesman Zhao Lijian

Benzinga

Here's How 2022 Chinese Election Could Act As Tailwind For Alibaba And Others

Chinese President Xi Jinping reached out to the domestic private sector amid the growing economic challenges, the CityToday reports. Jinping highlighted the importance of private capital to economic development while emphasizing their adherence to the regulatory norms at a recent Politburo meet. The private sector generated over 50% of China's tax…

Benzinga

FDA Rejects Junshi - Coherus' Toripalimab For Rare Head & Neck Cancer

The FDA has issued a complete response letter (CRL) to Junshi Biosciences Co Ltd and Coherus BioSciences Inc's (NASDAQ:CHRS) toripalimab application for advanced recurrent or metastatic nasopharyngeal carcinoma (NPC). NPC is a rare tumor of the head and neck which originates in the nasopharynx, located behind the nose and above the back of the throat. The…

Newslaundry

Below the radar: How an Indian tycoon’s petrochemicals empire quietly dodged Iran sanctions

Indian tycoon Yogesh Mehta is not shy about his success. In dozens of interviews, YouTube videos, and Twitter posts, he recounts how his hard work and ingenuity made his Dubai-based business, Petrochem, the number one chemical distributor in the Middle East and Africa.

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InsideEVs

Tesla Back Up To Over 80% Production Output At Giga Shanghai

The Shanghai Economics and Information Technology Commission confirms that Tesla has ramped up EV production in China to over 80 percent of capacity.

Bangkok Post

JP Morgan downgrades Thailand on fading tourism recovery

Analysts at J.P. Morgan downgraded Thailand's equities rating on Monday, citing the slow pace of recovery in the tourism industry due to rising inflation and a surge in Covid-19 cases in China.

Benzinga

U.S. FDA Rejects HUTCHMED's New Drug Application For Surufatinib In Neuroendocrine Tumors

HUTCHMED (China) Limited (Nasdaq: HCM) received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) for the New Drug Application (NDA) for Surufatinib for the treatment of pancreatic and extra-pancreatic (non-pancreatic) neuroendocrine tumors (NETs).

InsideEVs

NIO Electric Car Sales Decreased In April 2022 By 28% YOY

NIO delivered 5,074 cars, which is 29% less than a year ago, and one of the lowest results in recent months.

The Independent UK

Shanghai COVID outbreak shows signs of waning as cases fall

The COVID-19 outbreak that has shut down most of Shanghai appears to be waning

InsideEVs

Tesla Recalls 62,900 Model 3s In US And China Over Speed Display

Tesla has recalled 48,184 Model 3 Performance vehicles in the US and 14,684 in China for the same issue.

Salon

Expert: "Another bad year for democracy"

Andrew Viteritti of the Economist says polarization and paralysis are here to stay — but there's reason for hope

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