Beijing traffic authorities are investigating whether Baidu broke any laws after CEO Robin Li tested an autonomous car in city streets. Li rode in two different driverless cars in Beijing on his way to speak at a company event for developers on Wednesday. He live broadcast part of the trip from the passenger seat in […]
Read moreChina should focus on fixing fundamental problems that may trigger a financial crisis instead of witch-hunting, an economist said Friday. Speaking to CNBC’s “Squawk Box,” independent economist Andy Xie said China has managed to avoid a financial crisis now by tightening capital controls, but there’s more to be done. “Any other country would’ve collapsed, but […]
Read moreTwo U.S bombers flew over the disputed South China Sea, the U.S. Air Force said in a statement on Friday, asserting the right to treat the region as international territory, despite China’s territorial claims in the busy waterway. Before their flight on Thursday, the two B-1Bs trained with Japanese jet fighters in the neighboring East […]
Read moreThe Bank of Japan stepped up plans for its bond-buying on Friday as Japanese government bond (JGB) yields crept higher, causing the yen and oil to drop. On Friday, the BOJ said it would buy an unlimited number of 10-year JGBs at a yield of 0.110 percent, and it increased the size of its regular […]
Read moreThings may have turned for the worse between the United States and China. Even before an increasingly dangerous North Korea exposed divisions between the world’s two biggest economies, the relationship between the U.S. and China was already souring. And the seemingly friendly Mar-a-Lago resort meeting between U.S. President Donald Trump and Chinese President Xi Jinping […]
Read moreVirtual currencies like bitcoin are assets but bitcoin in itself does not have the fundamental attributes needed to be a currency that could meet modern economic development needs, a Chinese central bank adviser said. Sheng Songcheng, adviser to the People’s Bank of China (PBOC), made the comments in an interview with financial magazine Yicai published […]
Read moreIn early Friday trade, shares of troubled commodity trader Noble Group retraced some of their more than 36 percent surge in the previous session. The stock was down 4.69 percent at 61 Singapore cents ($0.44) at 9:27 a.m. HK/SIN, after climbing 36.17 percent, or 17 Singapore cents, to close at S$0.64 on Thursday amid a […]
Read moreCurrency, United States Finance
US concerned Arab dispute with Qatar may intensify, State Department says
The United States is increasingly concerned that a dispute between Qatar and other Arab states is at an impasse and could drag on for a long time or intensify, the U.S. State Department said on Thursday. Underscoring U.S. concerns about a crisis involving key allies in the Middle East, Defense Secretary Jim Mattis discussed the […]
Read moreSamsung Electronics on Friday said it was expecting an operating profit of 14 trillion Korean won ($12.1 billion) for the quarter hat ended in June, a 72 percent on-year jump that beat analysts predictions. Reuters reported the average forecast for the smartphone and chip-maker’s second-quarter profit among analysts was 13.1 trillion won. The South Korean […]
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