Tens of thousands of people, some in full protective gear, poured out of Wuhan on Wednesday, thronging the city’s airport, railway stations and highways as authorities lifted an 11-week lockdown of the coronavirus pandemic’s initial epicenter, reported the Wall Street Journal. At the drop of midnight on Wednesday morning, Chinese authorities began allowing people who can prove […]
Category: Law & Regulation
JPMorgan Chase & Co.’s asset management arm said Friday it has reached an agreement with its partner to take full ownership of a Chinese mutual fund joint venture, reported Caixin. JPMorgan Asset Management plans to buy Shanghai International Trust Co. Ltd.’s 49% stake in China International Fund Management Co. Ltd., the joint venture they formed […]
The European Union will impose tariffs of up to 99.7% on glass fiber producers in China and Egypt that it accuses of selling at unfairly low prices, in a closely watched and rare case involving Chinese companies operating abroad, reported Reuters. The EU will apply tariffs of 20.0-99.7% from Tuesday for the next five years, […]
Last week’s piece was headlined “Facing A Recession,” and everything that has happened this week has confirmed that. This is now a recession. In the past day or two we have heard talk of the next step – a global depression. The last time that happened, in the 1930s, it took a decade and more […]
Luckin Coffee has revealed that an internal investigation found hundreds of millions of dollars of sales last year were “fabricated”, wiping almost 75% from the value of the company touted as China’s rival to Starbucks, reported the Financial Times. The coffee chain, which listed on Wall Street less than a year ago, put investors on notice that they […]