Chinese e-commerce and technology company Alibaba Group and U.S. grocer Kroger have had early discussions on working together, including a meeting in which U.S. executives traveled to China, a source familiar with the matter said. The business development talks are at an initial stage, and it is not clear if they will lead to any […]
Read moreCurrency, United States Finance
China and the US will find a way to solve their trade problems, private equity CEO says
The current trade tension between Washington and Beijing should not be a cause for concern, the CEO of a China-focused private equity firm told CNBC. Although there is no doubt that trade tensions remain between the world’s top two economies, the countries will eventually figure out a way to compromise, cooperate and grow, Frank Tang, […]
Read moreChina’s commerce ministry said on Thursday cooperation is the only “correct direction” for the China-U.S. trade relationship, amid growing trade frictions between the world’s two biggest economies. Commerce ministry spokesman Gao Feng made the comments during a regular weekly briefing in Beijing. U.S. Commerce Secretary Wilbur Ross said on Wednesday the United States is not […]
Read moreSamsung Electronics is no longer India’s top smartphone seller — a title it had held onto for six years. The tech giant was pushed out of the pole position in the final quarter of 2017 by Chinese smartphone maker Xiaomi, data from two research outlets showed. Researcher Canalys estimated that Xiaomi shipped nearly 8.2 million […]
Read moreCurrency, United States Finance
Chinese state-owned giant is hoping to expand in the US — with culture
Cultural businesses may not be the most profitable, but China Poly Group will stay the course as the conglomerate expands into that U.S. sector, according to Xu Niansha, chairman of the Chinese enterprise. The state-owned behemoth made its name as an arms dealer but is now a conglomerate with businesses spanning real estate to art. […]
Read moreSouth Korea’s Olympic peace overture to its nuclear-armed northern neighbor is increasingly coming under fire. Hopes are high in some quarters that sports diplomacy could advance denuclearization talks, and North Korean leader Kim Jong Un’s decision to participate in the upcoming Winter Games was hailed as a win for inter-Korean relations when it was first […]
Read moreIndia’s government pledged on Wednesday to inject nearly $14 billion combined into all but one state-run lender by March in return for them implementing reforms, in a bid to boost lending and tackle a record bad debt problem. The funds will be injected into 20 lenders majority-owned by the government, which together hold most of […]
Read moreFord still has work to do to be a truly “fit” company, said CEO Jim Hackett on Wednesday. The second-largest automaker said it is not yet fit enough to offset headwinds from higher commodity prices, which the company expects to continue to affect finances in 2018. “Ford is a strong company,” Hackett said on a […]
Read moreCurrency, United States Finance
India has made some big changes lately — a top entrepreneur says it's paying off
The sweeping policy initiatives introduced by Prime Minister Narendra Modi since he came into power more than three years ago are already paying off, according to a closely watched Indian business leader. Vijay Sharma, founder and CEO of Indian digital payments giant Paytm, said India was an opportunity waiting to happen just a few years […]
Read moreAfter a whiplash in the major averages on Wednesday drove the stock market to soaring highs before it fell to tumultuous lows, CNBC’s Jim Cramer realized he needed to reevaluate. “I realized it’s time to adopt a new view about this market,” the “Mad Money” host said. “We have a 9:30 to 11:00 a.m. session. […]
Read more