Semiconductor Manufacturing International Corporation (SMIC) recently reported that it faced intense competition in the chip industry, leading to a drop in its first-quarter profit. The company mentioned during its earnings call that competition in the industry has been increasingly fierce, and pricing for commodity products is closely tied to market trends. Despite this, SMIC remains
The imposition of new trade tariffs by the Biden administration on China, particularly targeting the electric vehicle sector, has caused Chinese stocks to lag behind their Asian peers. The fear of increased tariffs on China’s massive battery and solar energy industries has raised concerns about the impact on the Chinese economy and the already fragile
European companies in China are facing a tough time as growth slows and overcapacity pressures rise. The EU Chamber of Commerce in China conducted a survey that revealed a significant decrease in profit margins for these companies. State-owned enterprises in China are postponing payments, causing delays in receiving payments for European businesses. This situation is
Zeekr, a Chinese electric vehicle manufacturer, recently priced its IPO at $21 a share – the top end of its range. This move will see the company sell 21 million American depository shares, raising a total of $441 million. Zeekr, backed by Chinese automotive giant Geely, is set to begin trading on the New York
The upcoming boxing match between Mike Tyson and Jake Paul has sent waves of excitement through the sports world. Scheduled for July 20th at AT&T Stadium in Arlington, Texas, this match is anticipated to be one of the most heavily bet on boxing events of the year. Fans are eagerly awaiting the opportunity to witness
The Consumer Financial Protection Bureau’s regulation designed to reduce late fees on credit cards by limiting them to $8 per incident faces a serious legal challenge. The U.S. Chamber of Commerce, representing the card industry, took the CFPB to federal court in an effort to block the implementation of the new rule. After weeks of
Activist Politan Capital has recently made demands for the addition of two new directors to the board of Masimo, a medical technology company. In response to Masimo’s offer to add only one of Politan’s nominees, Quentin Koffey, a representative for the activist group, responded with a counteroffer. Koffey insisted that in order to have a
In April, India’s consumer price inflation is predicted to have eased to 4.80%, slightly lower than the rate in March. Despite the moderation in headline inflation over the past few months, food prices, which make up a significant portion of the consumer price index basket, have remained high. This has put pressure on household budgets,
In the event that Sony and Apollo acquire Paramount Global, it has been suggested that their strategy would involve maintaining a stable theatrical release output for both studios, without any reductions. However, there are plans to shed certain aspects of the conglomerate, such as CBS, linear channels like MTV, and the Paramount Plus streaming service
The latest high-end smartphone from Huawei has brought to light the increasing involvement of Chinese suppliers in the production of the device. A teardown analysis conducted by online tech repair company iFixit and consultancy TechSearch International revealed a significant shift towards greater reliance on domestic components in Huawei’s Pura 70 Pro. This trend underscores China’s