European markets are set to open higher on Monday morning after a firm lead by U.S. stocks in the previous session and as Germany looks closer to forming a new government. The FTSE 100 is expected to start higher by 9 points at 7,715; the German DAX is seen up by 78 points at 13,383 […]
Read moreThere will be consolidation in the Chinese electric vehicle industry, an analyst predicted Monday, highlighting the fierce competition in the world’s largest market for those cars. The battle for electric vehicle market share in China is backed by an aggressive drive by Beijing to cut severe — and politically-sensitive — air pollution in the country. […]
Read moreMajor technology trends will have knock-on benefits in the Chinese economy, a hedge fund executive predicted on Monday. Cloud computing and artificial intelligence, for instance, “are tremendous trends in which we expect technology breakthroughs to happen. And that will benefit the entire supply chain all the way down to semiconductors, to NAND memory [flash memory] […]
Read moreThe two largest economies in the world are at the forefront of artificial intelligence development, but the jury is still out on which country is leading the race, according to a start-up with a presence in both the United States and China. “I think it’s still early days. China probably leads on the retail end […]
Read moreA cryptocurrency that was created as a parody and named after an internet meme now has a market value of more than $2 billion. Dogecoin crossed the $2 billion barrier on Sunday, around two weeks after it first touched the $1 billion level on Christmas day. The digital currency traded as high as $0.018773, putting […]
Read moreWith more than 300,000 users in China, start-up Niu says it is the country’s largest smart electric scooter brand. “[We’re] driving consumers from low-quality poor scooters to high-quality, lithium battery scooters,” Niu CEO Yan Li told CNBC on Monday. Beijing wants at least 50 percent of all new car sales to be electric by 2020 […]
Read moreAustralia on Monday said it expects iron ore prices to average $51.50 a tonne this year, down 20 percent from 2017, because of rising global supply and moderating demand from top importer China as its steel sector shrinks. The world’s top three mining companies, BHP and Vale rely heavily on iron ore sales for the […]
Read moreNorth Korean leader Kim Jong Un has ignored recent peace overtures from Seoul but he’s due on Tuesday to hold a formal dialogue with his southern neighbor for the first time in more than two years. The sudden interest in talks may have something to do with Pyongyang’s nuclear arsenal. “The North has made significant […]
Read moreOne of the benefits of China shifting its economy away from traditional manufacturing is that the country’s economic growth will be less reliant on borrowing, an economist said on Monday. “[China is] trying to boost growth of the new economy, as the new economy is less credit intensive. That’s also helping deleveraging efforts in China,” […]
Read moreBeijing’s push to transition its economy has led to the country moving on from simply being known as the world’s factory, according to a top executive at Swiss bank UBS. “A lot of things are being created now in China, rather than [it just] being a manufacturing hub,” Kathryn Shih, president of UBS Asia Pacific, […]
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