China’s lithium prices are plunging faster than expected this year, down 34% in the last four weeks alone, hit by a slump in demand for electric vehicles in the world’s biggest market that has left stocks of the metal piling up. Spot lithium carbonate prices assessed by Fastmarkets fell to 260,000 yuan ($38,079.06) per tonne […]
China
U.S. Trade Representative Katherine Tai said on Thursday that she is open to trade conversations with Chinese officials, but the Biden administration would defend U.S. interests and was focused on investments to compete more effectively with China. In prepared testimony before the U.S. Senate Finance Committee, Tai said that U.S. legislation to enable investments in […]
Moderna Inc has entered a licensing deal with Generation Bio Co to develop treatments targeting the immune system and liver, the latest such transaction by the vaccine maker as it expands beyond its COVID shots. Generation Bio’s shares rose about 13.14% to $4.40 in premarket trading on Thursday. Moderna will pay $40 million in cash […]
Accenture Plc on Thursday lowered its annual revenue and profit forecasts and said it would cut about 2.5% of workforce, or 19,000 jobs, the latest sign that the worsening global economic outlook was sapping corporate spending on IT services. More than half of the layoffs will affect staff at its non-billable corporate functions, the company […]
China has never deliberately pursued a trade surplus with the United States, Shu Jueting, a commerce ministry spokesperson, said on Thursday, despite signs that China is continuing to reduce its reliance on American exports. Although American export data published on Feb. 7 shows that exports to China increased by $2.4 billion on the year to […]
European Union leaders are expected on Thursday to back a revamp of the single market, simplified regulations and other steps to ensure the bloc can compete with the United States and China as an industrial leader in green and digital technologies. High energy prices and U.S. President Joe Biden’s Inflation Reduction Act, which offers $369 […]
Germany’s Interior Minister Nancy Faeser is concerned about the close ties between Deutsche Telekom and Chinese company Huawei and wants to examine them, Handelsblatt newspaper reported on Wednesday. “That doesn’t look good,” Faeser was quoted as saying by the paper. Germany is considering banning certain components from Chinese companies Huawei and ZTE in its telecoms […]
TikTok’s chief executive will tell lawmakers the Chinese-owned short video app with more than 150 million American users has never, and would never, share U.S. user data with the Chinese government amid growing U.S. national security concerns. “TikTok has never shared, or received a request to share, U.S. user data with the Chinese government. Nor […]
Australia’s revenue potential from developing a battery industry has doubled to A$16.9 billion ($11.28 billion) by 2030 in less than two years, highlighting the speed of the sector’s expansion and the need to act quickly, an Accenture report showed on Wednesday. Australia’s battery industry is poised to become a global leader given the country’s mineral […]
Chinese-owned short video app TikTok faces a “pivotal moment” as a growing number of U.S. lawmakers seek to ban the popular app over national security concerns, CEO Shou Zi Chew said. Chew said in a video posted on TikTok early on Tuesday that the app now has more than 150 million active monthly U.S. users, […]