Taiwan manufacturing giant Foxconn has announced that it will invest $18 million in a cryptocurrency merchant bank that is being set up by a former partner of Goldman Sachs Group, Caixin reports. The company has not disclosed exactly what sized stake it will have in the bank or how much control it would have over it, according […]
Category: Brief
Chinese aviation-to-financial services conglomerate HNA group co. is selling off $4 billion of commercial properties in New York, San Francisco, Chicago, and Minneapolis, following recent liquidity concerns, according to a marketing document received by Bloomberg. HNA are cracking down on “irrational investments”, accumulated over a two-year spending spree on overseas assets. As of July 2017, […]
The European has imposed tariffs on the imports Chinese corrosion-resistant steel, Reuters reports, to offset unfairly low prices. The new duties reaffirm provisional measures put in place in August, according to the EU official journal on Thursday, and will range from 17.2 to 27.9%. The tariffs will be in force for 5 years. This is […]
The renminbi (RMB) fell by between 0.8-1% during Thursday’s U.S. trading, the Financial Times reports, making it the worst performing session since January 2017. Both onshore and offshore RMB fell, despite the currency seeing its 12th consecutive month of appreciation in January, and strong standing against a weakening dollar. Thursday’s poor performance follows the release […]
The Commercial Aircraft Corporation of China (COMAC) aims to deliver its first C919 single-aisle jet, the first Chinese-made large passenger aircraft, to customers in 2021, the People’s Daily reports. The C919 could be a game-changer in the global aviation industry, as COMAC seeks to compete with the US’s Boeing and Europe’s Airbus. Yuan Wenfeng, the director of […]