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☆ China says US statement on collision with Philippine boat disregards facts
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

A Philippine flagged boat is blocked by a China Coast Guard vessel during an incident that resulted in a collision between the two vessels, in the disputed waters of the South China Sea in this screen grab obtained from handout video released October 22, 2023. China Coast Guard/Handout via REUTERS Acquire Licensing RightsBEIJING, Oct 23 (Reuters) - China's foreign ministry on Monday said a U.S. statement in which Washington sided with the Philippines regarding a collision between vessels in the South China Sea "disregarded the facts". China and the Philippines traded accusations on Sunday over the collision in disputed waters of the South China Sea, as Chinese vessels blocked Philippine boats supplying forces there in the latest of a series of maritime confrontations. In a statement on Sunday, the U.S. State Department said China's coast guard had "violated international law by intentionally interfering with the Philippine vessels' exercise of high seas freedom of navigation". Maritime confrontations between Manila and Beijing have become a regular feature in the South China Sea, as both countries assert their territorial claims in the highly strategic waters.

Persons: Mao Ning, China's, Mao, Thomas Shoal, Thomas, Liz Lee, Bernard Orr, Christopher Cushing, Miral Organizations: China Coast Guard, REUTERS Acquire, Rights, Washington, U.S . State Department, Thomson Locations: Philippine, South, Rights BEIJING, U.S, Philippines, China, South China, United States, China's Nansha, Spratly Islands, Manila, Beijing

"Airbus remains committed to providing the U.S. Air Force and our warfighters with the most modern and capable tanker on the market," an Airbus spokesperson said. The Air Force has sought to replace hundreds of Eisenhower-era KC-135 tankers in three lots. "Lockheed Martin has decided not to respond to the U.S. Air Force's KC-135 fleet recapitalization Request for Information," Lockheed spokesperson Stephanie Stinn said in a statement. A Lockheed-Airbus victory would have landed Airbus its first aircraft contract with the U.S. Air Force after attempting to penetrate the U.S. defense market for two decades. In 2011, Boeing won the first of the three-phase procurement to replace the Air Force's aging tanker fleet, securing a contract for 179 KC-46s.

Persons: Cheney Orr, Eisenhower, Lockheed Martin, Stephanie Stinn, Lockheed's, Valerie Insinna, Mike Stone, Chizu Organizations: Lockheed, Association of, United States Army, Global, REUTERS, Rights, Lockheed Martin Corp, U.S . Air, KC, Air Force, Airbus, U.S . Air Force, The Air Force, Boeing, U.S . Air Force's KC, Pegasus, Refueling, recapitalization, Air, Thomson Locations: Huntsville , Alabama, U.S, Alabama, Georgia, Washington

☆ Foxconn faces tax audit, land use probe, Chinese state media reports
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +1 min

A woman drives past the logo of Foxconn outside the company's building in Taipei, Taiwan November 9, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsBEIJING, Oct 22 (Reuters) - Taiwan's Foxconn (2317.TW), the largest supplier of Apple (AAPL.O) iPhones, is the subject of tax audits in China at some of its key subsidiaries, suspected of violating laws and regulations, Chinese state media reported on Sunday. China's natural resources department also conducted on-site investigations on the land use of Foxconn enterprises in Henan and Hubei provinces and elsewhere, the nationalist tabloid the Global Times reported. Zhang Wensheng, deputy dean of the Taiwan Research Institute of Xiamen University, told the Global Times the audit and land use investigations was a normal procedure that would apply to any enterprise suspected of violating laws and regulations. Reporting by Ethan Wang and Bernard Orr; Editing by Lincoln Feast and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Ann Wang, Foxconn, Zhang Wensheng, Zhang, Ethan Wang, Bernard Orr, Lincoln, William Mallard Organizations: REUTERS, Rights, Apple, Global Times, Hai Technology, Taiwan Research Institute, Xiamen University, Thomson Locations: Taipei, Taiwan, Rights BEIJING, China, Henan, Hubei

☆ Foxconn faces tax audit, land use probe - Chinese state media
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +1 min

A woman drives past the logo of Foxconn outside the company's building in Taipei, Taiwan November 9, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsBEIJING, Oct 22 (Reuters) - Foxconn Technology Group (2317.TW), Apple Inc's (AAPL.O) largest supplier of iPhones, has been subjected to tax audits at some of its key subsidiaries, suspected of violating laws and regulations, Chinese state media reported on Sunday. China's natural resources department also conducted on-site investigations on the land use of enterprises of Foxconn in Henan, Hubei provinces and other places, according to the exclusive report in the nationalist tabloid, the Global Times. It did not elaborate on the investigations or the timing of them. Foxconn did not immediately respond for comment outside of regular business hours.

Persons: Ann Wang, Foxconn, Zhang Wensheng, Zhang, Ethan Wang, Bernard Orr, Lincoln Organizations: REUTERS, Rights, Foxconn Technology, Apple, Global Times, Taiwan Research Institute, Xiamen University, Thomson Locations: Taipei, Taiwan, Rights BEIJING, Foxconn, Henan, Hubei

☆ China says it uncovered another spying case in US
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +3 min

The case is the latest to underscore Beijing's heightened commitment to national security, its expanded anti-spying laws and crackdown on domestic corruption. He also provided intelligence information in the field of national defense and the military industry on his own initiative, the report said. After investigations by the Chinese government, Hou was detained in July 2021 and charged on suspicion of espionage. In recent years, China has arrested and detained dozens of Chinese and foreign nationals on suspicion of espionage, raising the concerns of the U.S. over its counter-espionage push. Recently, China's spy agency published new details about a U.S. citizen jailed for life for espionage earlier this year.

Persons: Dado Ruvic, Hou, Hou's, Bernard Orr, Sonali Paul Organizations: REUTERS, Rights, Ministry of State Security, U.S, Thomson Locations: Rights BEIJING, United States, Chengdu, U.S, American, China

☆ China says it 'lawfully' blocked Philippine ships going to disputed shoal
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO: A Philippine flag flutters from BRP Sierra Madre, a dilapidated Philippine Navy ship that has been aground since 1999 and became a Philippine military detachment on the disputed Second Thomas Shoal, part of the Spratly Islands, in the South China Sea March 29, 2014. REUTERS/Erik De Castro/File Photo/File Photo Acquire Licensing RightsBEIJING, Oct 22 (Reuters) - China's coast guard said on Sunday it "lawfully" blocked Philippine vessels transporting "illegal construction materials" to a warship at a disputed shoal in the South China Sea. Over the past few months, China and the Philippines have had numerous run-ins in areas of the South China Sea, most notable the disputed Second Thomas Shoal, part of the Spratly Islands. China had warned the Philippines against further "provocations", saying such acts violated its territorial sovereignty. China claims sovereignty over almost the entire South China Sea, pointing to a dotted line on its maps that cuts into the exclusive economic zones of Vietnam, the Philippines, Malaysia, Brunei and Indonesia.

Persons: Thomas Shoal, Erik De Castro, China's, Ethan Wang, Bernard Orr, William Mallard Organizations: BRP, BRP Sierra Madre, Philippine Navy, REUTERS, Rights, China Coast Guard, Thomson Locations: BRP Sierra, Philippine, Spratly, South, Rights BEIJING, South China, China, Philippines, Vietnam, Malaysia, Brunei, Indonesia

☆ China Says It Uncovered Another Spying Case in US
▼ + stars: | 2023-10-22 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

Persons: Hou, Hou's, Bernard Orr, Sonali Paul Organizations: Ministry of State Security, U.S Locations: BEIJING, United States, Chengdu, U.S, American, China

☆ China, Philippines trade accusations over collision in South China Sea
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +4 min

The two countries have had numerous run-ins in areas of the South China Sea in recent months, especially the disputed Second Thomas Shoal, part of the Spratly Islands. The Pentagon said in May it would protect the Philippines if its coast guard came under attack "anywhere in the South China Sea". Beijing claims sovereignty over almost the entire South China Sea, including parts of the exclusive economic zones of the Philippines, Vietnam, Malaysia, Brunei and Indonesia. "The provocative, irresponsible, and illegal action" of the Chinese coast guard vessel "imperilled the safety of the crew" of the Philippine boat, the task force said. "The Philippines behaviour seriously violates the international rules on avoiding collisions at sea and threatens the navigation safety of our vessels," the coast guard said.

Persons: Thomas Shoal, Erik De Castro, China's, Philippines MaryKay Carlson, Ferdinand Marcos Jr, Thomas, Ethan Wang, Bernard Orr, Enrico Dela Cruz, William Mallard Organizations: BRP, BRP Sierra Madre, Philippine Navy, REUTERS, Manila, Manila's, Force, West Philippine, Washington, Pentagon, BRP Sierra, Thomson Locations: BRP Sierra, Philippine, Spratly, South, China, Philippines, Manila, Manila BEIJING, MANILA, South China, States, Beijing, Vietnam, Malaysia, Brunei, Indonesia, China's

☆ China vice premier pushes for more Apple investment, cooperation
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

Apple CEO Tim Cook attends the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. Sales of iPhone 15 models in their first 17 days in China were down 4.5% compared to the iPhone 14, Counterpoint Research said, without providing specific figures. China in September widened curbs on the use of iPhones by state employees, telling staff at some central government agencies to stop using their Apple handsets at work. "China is willing to provide more opportunities for foreign-funded enterprises including Apple to develop in the country," Ding told Cook in a meeting on Thursday, according to Chinese state radio. Cook said Apple was confident in the prospects of Chinese market, and was willing to strengthen cooperation with China in fields including high-end manufacturing and digital economy, the state radio reported.

Persons: Tim Cook, Loren Elliott, Ding Duexiang, Cook, Cook's, Ding, Apple, Ethan Wang, Bernard Orr Organizations: Apple, REUTERS, Rights, U.S, Huawei, Research, Thomson Locations: Cupertino , California, U.S, Rights BEIJING, Beijing, China

☆ China says US Pentagon report on nuclear warheads distorts facts
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Carlos Barria/File Photo Acquire Licensing RightsBEIJING, Oct 20 (Reuters) - A U.S. Pentagon report saying China will probably have more than 1,000 nuclear warheads by 2030 was filled with prejudice and distorts facts, and China had no intention of engaging in a nuclear arms race, its foreign ministry said on Friday. The Pentagon said in an annual report released on Thursday that China had more than 500 operational nuclear warheads in its arsenal, as of May. The report added that China's Navy had more than 370 ships and submarines, up from the 340 ships last year. "As long as any country does not use or threaten to use nuclear weapons against China, it will not be threatened by China's nuclear weapons," Mao said. In a report last November, it said China would likely have a stockpile of 1,500 nuclear warheads by 2035.

Persons: Carlos Barria, Mao Ning, Mao, Joe Cash, Bernard Orr, Kim Coghill Organizations: Pentagon, REUTERS, Rights, U.S . Pentagon, Navy, Thomson Locations: Arlington , Virginia, U.S, Rights BEIJING, China, United States

☆ China's Xi wants to expand cooperation with Indonesia in several key markets
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

Chinese President Xi Jinping attends a ceremony to welcome participants of the Belt and Road Forum in Beijing, China, October 17, 2023. Sputnik/Sergei Savostyanov/Pool via REUTERS/File Photo Acquire Licensing RightsBEIJING, Oct 17 (Reuters) - China is willing to expand and strengthen cooperation with Indonesia in emerging industries such as the digital economy, photovoltaics and new energy vehicles, President Xi Jinping said on Tuesday. In October, Widodo inaugurated a $7.3 billion high-speed railway connecting the country's capital with the city of Bandung. Widodo said Indonesia regards China as an important strategic partner in national economic development and construction, and "looks forward to further strengthening communication and cooperation with China," state media reported. Reporting by Ethan Wang and Bernard Orr; editing by Christina Fincher and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Xi Jinping, Sergei Savostyanov, Xi, Joko Widodo, Widodo, Ethan Wang, Bernard Orr, Christina Fincher, Chizu Organizations: Forum, Sputnik, Rights, China Central Television, Initiative, of Southeast Asian Nations, Thomson Locations: Beijing, China, Rights BEIJING, Indonesia, Bandung

REUTERS/Cheney Orr/File Photo Acquire Licensing RightsOct 17 (Reuters) - Lockheed Martin (LMT.N) reported higher third-quarter revenue on Tuesday, as geopolitical tensions fueled sustained demand for its military equipment. Lockheed's weapons, such as the guided multiple launch rocket system and Javelin anti-tank missiles, made in conjunction with defense company RTX (RTX.N), have proven critical to Ukraine's war efforts. Revenue at the Missiles and Fire Control unit, which makes the High Mobility Artillery Rocket System, was $2.94 billion, up 3.8% from a year earlier. Bethesda, Maryland-based Lockheed posted a net income of $6.73 per share for the quarter ended Sept. 24, compared with $6.71 per share a year earlier. Quarterly net sales rose around 1.78% to $16.88 billion.

Persons: Cheney Orr, Lockheed Martin, LMT.N, restocking, Frank St John, Pratyush Thakur, Mike Stone, Krishna Chandra Organizations: Lockheed, Association of, United States Army, Global, REUTERS, Reuters, Missiles, Control, High Mobility Artillery, Thomson Locations: Huntsville , Alabama, U.S, Ukraine, Bethesda , Maryland, Bengaluru, Washington

☆ Instacart IPO banks tout e-grocery shopping potential, but challenges loom
▼ + stars: | 2023-10-16 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

REUTERS/Cheney Orr/File Photo Acquire Licensing RightsOct 16 (Reuters) - Most Wall Street brokerages, including J.P.Morgan and Goldman Sachs, kicked off coverage on Instacart (CART.O) with a bullish view, betting on the grocery delivery app's growth amid a shift to online shopping. The stock — following a lukewarm debut in September — closed at $25.57 on Friday, below its $30 initial public offering (IPO) price. At least half of Instacart's 20 IPO underwriters have initiated coverage with their top ratings after the quiet period ended. Instacart's slow growth compared to rivals is a top concern, as a reduction in food stamp benefits and a shift back to in-store shopping could limit GTV growth, according to Piper Sandler analyst Alexander Potter. As of Friday, the six brokerages that were not involved in the IPO started coverage with an average rating of "hold", LSEG data showed.

Persons: Eric Cohn, Cheney Orr, Goldman Sachs, —, Baird, Colin Sebastian, Scott Devitt, Justin Post, Piper Sandler, Alexander Potter, Savyata Mishra, Shilpi Majumdar Organizations: Safeway, REUTERS, J.P.Morgan, underwriters, Walmart, Wedbush, BofA Global Research, Thomson Locations: Tucson , Arizona, U.S, Instacart, Bengaluru

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/middle-east/americans-send-help-to-israel-including-supplies-that-range-from-baby-formula-to-tactical-gear-f264749a

Persons: Dow Jones Locations: israel

SACRAMENTO, Calif. (AP) — California will raise the minimum wage for health care workers to $25 per hour over the next decade under a new law Democratic Gov. Last month, he signed a law raising the minimum wage for fast food workers to $20 per hour. Political Cartoons View All 1211 ImagesSeveral city councils in California had already passed local laws to raise the minimum wage for health care workers. The law Newsom signed Friday would preempt those local minimum wage increases. The health care industry has been confronted with burnout from heavy workloads, a problem greatly exacerbated by the COVID-19 pandemic.

Persons: Gavin Newsom, Newsom, ”, Tia Orr Organizations: Democratic Gov, Democratic, Service Employees International Union California, Labor, University of California, Berkely Labor Center, Kaiser Permanente Locations: SACRAMENTO, Calif, California, Los Angeles

☆ Births in China slide 10% to hit their lowest on record
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Oct 12 (Reuters) - The number of births in China tumbled 10% last year to hit their lowest level on record - a drop that comes despite a slew of government efforts to support parents and amid increasing alarm that the country become demographically imbalanced. China had just 9.56 million births in 2022, according to a report published by the National Health Commission. Last year, the country's population also fell for the first time in six decades, dropping to 1.41 billion people. Nearly 40% of Chinese newborns last year were the second child of a married couple, while 15% were from families with three or more children, health authorities said. Reporting by Ethan Wang, Albee Zhang and Bernard Orr; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Xi Jinping, Ethan Wang, Albee Zhang, Bernard Orr, Edwina Gibbs Organizations: National Health Commission, Thomson Locations: BEIJING, China, Beijing

☆ China to host Belt and Road forum in Beijing Oct 17-18
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

A woman walks in front of a sign at the "Belt and Road" summit in Hong Kong, China September 14, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsBeijing, Oct 11 (Reuters) - China will host its third Belt and Road Forum next week, its foreign ministry said on Wednesday, a President Xi Jinping signature event that President Vladimir Putin is due to attend on a rare trip abroad. The conference in Beijing on Oct. 17-18 marks the 10th anniversary of the Belt and Road Initiative (BRI) championed by Xi, with representatives from many developing countries, notably from Latin America and Africa, expected to attend. But critics see the plan - billed as recreating the ancient Silk Road to boost global trade - as a tool for China to spread its geopolitical and economic influence. China had signed Belt and Road cooperation documents with more than 150 countries and more than 30 international organizations, the foreign ministry said.

Persons: Tyrone Siu, Xi, Vladimir Putin, Putin, Liz Lee, Bernard Orr, Ethan Wang, Lidia Kelly, Muralikumar Anantharaman Organizations: REUTERS, Rights, Initiative, Kremlin, Court, ICC, Thomson Locations: Hong Kong, China, Rights Beijing, Beijing, America, Africa, Hague, Ukraine, Kyrgyzstan, Asia, Europe, Russian, Italy, Melbourne

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsOct 11 (Reuters) - FIFA's decision to hold the 2030 World Cup in six countries with fans flying to over 100 games will increase the tournament's carbon footprint and is at odds with the soccer governing body's climate commitments, experts have warned. FIFA allocated the 2030 World Cup to Spain, Portugal and Morocco last week but also said Uruguay, Argentina and Paraguay would host three matches to mark the tournament's centenary. It is a stark contrast to the 2022 World Cup in Qatar which had only 32 teams while all 64 matches were played in eight stadiums in and around Doha. "Every decision that grows the World Cup is going to increase the carbon footprint of the event. "For the last World Cup in Qatar, travel within the country was quite minimal because the country is so small," Ross said.

Persons: Arnd, Madeleine Orr, Quentin Cuendet, Cuendet, Dr Walker Ross, Ross, it's, Aadi Nair, Rohith Nair, Christian Radnedge Organizations: REUTERS, FIFA, University of Toronto, Swiss Climate Alliance, Sport Management, University of Edinburgh, Sport Ecology, Thomson Locations: Zurich, Switzerland, Spain, Portugal, Morocco, Uruguay, Argentina, Paraguay, South America, Qatar, Doha, Swiss, le, Bengaluru

☆ San Francisco police fatally shoot driver of car that crashed into Chinese consulate
▼ + stars: | 2023-10-10 | by ( Nathan Frandino | ) www.reuters.com time to read: +2 min

SAN FRANCISCO, Oct 9 (Reuters) - Law enforcement officers fatally shot the driver of a vehicle that plowed through the Chinese consulate in San Francisco and into the lobby of the building's visa office on Monday, city police said. "I don't know how many people were inside the visa office at the time of the collision," San Francisco Police Department spokesperson Sergeant Kathryn Winters told reporters at a news briefing hours later. "When officers arrived here on scene, they found the vehicle had come to rest inside the lobby of the Chinese Consulate. [1/3]Law enforcement members stand on the street near the Chinese consulate, where local media has reported a vehicle may have crashed into the building, in San Francisco, California, U.S. October 9, 2023. An ABC television affiliate station in San Francisco reported its news crews observed a man covered in blood being carried away from the scene on a stretcher and rushed into an ambulance.

Persons: Kathryn Winters, " Winters, Nathan Frandino, Steve Gorman, Bernard Orr, Daniel Trotta, Michelle Nichols, Sam Holmes Organizations: FRANCISCO, San Francisco Police, Consulate, Officers, Police, U.S . State Department, REUTERS, State Department, ABC, Thomson Locations: San Francisco, San Francisco , California, U.S, Los Angeles, Beijing, Carlsbad , California, New York

☆ In Beijing, Schumer urges China to support Israel after Hamas attacks
▼ + stars: | 2023-10-09 | by ( Antoni Slodkowski | ) www.reuters.com time to read: +4 min

BEIJING, Oct 9 (Reuters) - U.S. Senate Majority Leader Chuck Schumer on Monday called on China to support Israel after deadly attacks by Hamas, adding he was "disappointed" that Beijing showed "no sympathy" for the country over the weekend. Schumer is leading a bipartisan congressional delegation to Asia, which includes stops in South Korea and Japan. It aims to advance U.S. economic and national security interests, and in China, the group hopes to meet Chinese President Xi Jinping. [1/5]Visiting U.S. Senate Majority Leader Chuck Schumer, D-N.Y., talks to Chinese Foreign Minister Wang Yi during a bilateral meeting at the Diaoyutai Guest House in Beijing, Monday, Oct. 9, 2023. Communication between U.S. and Chinese officials has increased in recent months, bringing some improvement in ties strained for years over issues such as Taiwan, the origins of COVID-19 and accusations of Chinese spying.

Persons: Chuck Schumer, Schumer, Xi Jinping, ” Schumer, Wang Yi, Wang, Andy Wong, Washington, Republican Mike Crapo, Bill Cassidy, John Kennedy, Maggie Hassan, Jon Ossoff, Biden, Gina Raimondo, Raimondo, Antoni Slodkowski, Bernard Orr, Kim Coghill, Gerry Doyle Organizations: U.S, Fighters, Foreign Ministry, Israel, Foreign, House, REUTERS Acquire, Democratic, Republican, Thomson Locations: BEIJING, China, Israel, Beijing, Egypt, Yom, State, Palestine, Asia, South Korea, Japan, United States, Washington, Taiwan, U.S, Shanghai

☆ In Beijing, Schumer Calls on Xi to Support Israel After Hamas Attacks
▼ + stars: | 2023-10-09 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +4 min

By Yew Lun Tian, Liz Lee and Antoni SlodkowskiBEIJING (Reuters) -U.S. Senate Majority Leader Chuck Schumer on Monday called on Chinese President Xi Jinping to support Israel after deadly attacks by Hamas, adding he was "disappointed" that Beijing showed "no sympathy" for the country over the weekend. Israel responded by pounding Gaza, killing hundreds of Palestinians. Schumer is leading a rare bipartisan congressional delegation on a trip to Asia, which also includes stops in South Korea and Japan. "The ongoing events in Israel over the last few days are nothing short of horrific. I urge you and the Chinese people to stand with the Israeli people and condemn the cowardly and vicious attacks," Schumer told Xi during their meeting in Beijing.

Persons: Lun Tian, Liz Lee, Antoni Slodkowski BEIJING, Chuck Schumer, Xi Jinping, Xi, Joe Biden, Schumer, Mao Ning, Mao, Washington, Biden, Antoni Slodkowski, Bernard Orr, Kim Coghill, Gerry Doyle, Miral Fahmy, Sharon Singleton Organizations: U.S, Fighters, Foreign, Democratic, Economic Cooperation Locations: Israel, Beijing, Egypt, Yom, Gaza, State, Palestine, Asia, South Korea, Japan, China, Taiwan, U.S, San Francisco, New Delhi

☆ China launches first cross-sea bullet train line near Taiwan Strait
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

A bullet train speeds during its debut near a railway station in Shanghai January 28, 2007. A bullet train departed from Fuzhou, the capital of east China's Fujian province Thursday morning, setting up the opening of the 277-km (172-mile) Fuzhou-Xiamen-Zhangzhou railway, Xinhua reported. China Railway Siyuan Survey and Design Group Co Ltd designed the railway project. China recently announced details of its plan to turn Fujian into a zone for integrated development with Taiwan, which sits opposite the province. Separately, earlier this week China unveiled its first commercial suspended monorail line in Wuhan, the capital of Hubei province.

Persons: Aly Song, Bernard Orr, Christian Schmollinger Organizations: REUTERS, Rights, China State Railway Group Co, China Railway Siyuan Survey, Design, China Daily, Thomson Locations: Shanghai, CHINA, Rights BEIJING, China, Fujian, Taiwan Strait, Fuzhou, Xiamen, Zhangzhou, Xinhua, Taiwan, Wuhan, Hubei province, Beijing

☆ Tesla working on 'gigacasting' tech to mould underbody in one piece -report
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

A staff member attends to customers inside a Tesla Model Y car at a showroom of the U.S. electric vehicle (EV) maker in Beijing, China February 4, 2023. The state-owned Chinese newspaper, which based its report after a recent visit to Tesla's Shanghai factory, did not say when and where the upgrade will happen. Reuters reported this month that Tesla was closing in on an innovation that would allow it to die cast nearly all of the underbody of an electric vehicle in one piece. Tesla has pioneered the use of huge presses with 6,000 to 9,000 tons of clamping pressure to mould the front and rear structures of its Model Y in its "gigacasting" process that has slashed production costs. Reporting by Zhang Yan, Albee Zhang and Bernard Orr; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence, Tesla, Zhang Yan, Albee Zhang, Bernard Orr, Edwina Gibbs Organizations: Tesla, U.S, REUTERS, Rights, Shanghai Securities, Reuters, HK, Zeekr, Shanghai Securities News, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai

☆ Instacart shares fall further below IPO price
▼ + stars: | 2023-09-27 | by ( Noel Randewich | ) www.reuters.com time to read: +2 min

Shares of Instacart, formally called Maplebear, last traded at $28.71 compared to the $30 price set in its IPO on Sept. 18. SoftBank-backed chip designer Arm Holdings fell 2.5% to $52.19, just above the $51 price in its IPO two weeks ago. After closing with a gain of 12% in its first session, Instacart has steadily lost ground. Arm's shares have also mostly declined after surging in their Wall Street debut, touching intra-day lows below $51 in three of the past five sessions. The marketing automation firm's stock remains above its $30 IPO price, but well below its intraday high of $37 in its first day of trading.

Persons: Eric Cohn, Cheney Orr, Instacart, Noel Randewich, Emelia Sithole Organizations: Safeway, REUTERS, Vanda Research, Arm Holdings, Thomson Locations: Tucson , Arizona, U.S, Klaviyo

☆ China could do 'a lot' to reduce EU perception of risk - EU trade chief
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Sept 25 (Reuters) - The European Union has no intention of cutting ties with China even as the bloc takes steps to lower economic dependencies and de-risk, but China "could do a lot" to help reduce the perception of risk, the EU trade chief said on Monday. The EU has long complained about a lack of level playing field in China and the politicisation of the business environment. Europe's economic ties with China are deep, but China "could do a lot to help reduce our perception of risk," Trade Commissioner Valdis Dombrovskis said in a speech delivered at the Tsinghua University in Beijing. Dombrovskis is expected to share his concerns with Chinese Vice Premier He Lifeng at a high-level economic and trade dialogue in Beijing on Monday. The EU's trade deficit with China widened to $276.6 billion in 2022 from $208.4 billion a year earlier, Chinese customs data show.

Persons: Valdis Dombrovskis, Dombrovskis, Ryan Woo, Bernard Orr, Yew, Himani Sarkar, Jacqueline Wong Organizations: European Union, EU, Tsinghua University, European Commission, Global Times, Thomson Locations: BEIJING, China, Moscow, Ukraine, Beijing, Europe, EU

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