Vacation rental company Airbnb Inc will shut down all listings and experiences in mainland China from July 30, it said on Tuesday, joining a long list of Western internet platforms that have opted out of the Chinese market. The company made the announcement on its official WeChat account without elaborating on the reasons behind the […]
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Joe Biden will visit Japan and South Korea on his first Asian trip as U.S. president, carrying a clear message to China, advisers and analysts say – don’t try what Russia did in Ukraine anywhere in Asia, and especially not in Taiwan. Biden departs for the five day trip on Thursday, after spending several months […]
Cisco Systems Inc cut its full-year earnings forecast on Wednesday after COVID lockdowns in China and the war in Ukraine dragged sales below estimates in the third quarter, sending shares down 13% in extended trading. It also said fourth-quarter revenue would decline by 1% to 5.5%, becoming the latest U.S. company to outline a hit […]
China is in talks with automakers about extending costly subsidies for electric vehicles (EV) that were set to expire in 2022, aiming to keep a key market growing as the broader economy slows, three people familiar with the matter said. The move by policymakers comes as the world’s second-biggest economy has slowed sharply – and […]
State conglomerate China Resources is in early-stage talks with Sihuan Pharmaceutical’s chairman about jointly taking the Hong Kong-listed company private in a deal valuing it at nearly $3 billion, two people with knowledge of the matter said. Sihuan is attractive to China Resources (Holdings) Co Ltd, they said, due to sharp growth for its medical […]
Chinese smartphone giant Xiaomi Corp faces legal headaches in India as a federal financial crime-fighting agency and tax authorities investigate its business practices. Xiaomi denies wrongdoing. But it recently hit the headlines with accusations that its executives faced intimidation from Indian enforcement officials, drawing public rebuttals from the agency and words of support from China. […]
Apple supplier Foxconn warned that current-quarter revenue for its electronics business including smartphones could slip as growth slowed amid rising inflation, cooling demand and escalating supply chain issues partly due to lockdowns in China. The Taiwanese firm, the world’s largest contract electronics maker, has grappled with a severe shortage of chips like other global manufacturers, […]
Blue tungsten winking from the walls of abandoned mine shafts, in a town that’s seen better days, could be a catalyst for South Korea’s bid to break China’s dominance of critical minerals and stake its claim to the raw materials of the future. The mine in Sangdong, 180 km southeast of Seoul, is being brought […]
Drone giant DJI Technology Co said it will temporarily suspend business in Russia and Ukraine to ensure its products are not used in combat, making it the first major Chinese firm to cite the conflict in halting sales in Russia. Ukrainian officials and citizens have accused DJI of leaking data on the Ukrainian military to […]
Taiwan firms making chip and electronic components reported a mixed picture on Wednesday on work resumption in the eastern Chinese city of Kunshan after COVID-19 curbs, with some warning deliveries would be postponed until next month. China has put Shanghai under a tight lockdown since late March and neighbouring Kunshan has also tightened curbs to […]