DIRS.INFO The most relevant business & tech news

☆ Hedge funds do an about-face on the China trade, selling stocks in record numbers
▼ + stars: | 2024-10-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Hedge funds that recently flocked into Chinese stocks on stimulus hopes just did a 180. The net selling was 1.4 times larger than the previous record, Goldman said. "As NDRC underwhelmed, hedge funds rapidly sold off Chinese equities," Goldman strategists said in a note to clients on Wednesday. "Hedge funds not only unwound their long positions but added shorts to their books as well, with long sells being double the amount of short sells." Hedge funds had only just piled into the developing market at a record pace one week before , as Beijing's rare stimulus blitz unleashed newfound optimism.

Persons: Goldman Sachs, Goldman, David Tepper, Mehran Nakhjavani Organizations: National Development, Appaloosa Management, CNBC, China's CSI, MRB Partners Locations: China

☆ Investors slam the brakes on the hottest trade going in the market
▼ + stars: | 2024-10-08 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

But he did not announce any major new plans for ensuring economic health, leaving investors feeling underwhelmed. The iShares MSCI China ETF (MCHI) sank nearly 11%, on track for its worst day ever. The iShares China Large-Cap ETF, for example, soared 33% between Sept. 23 and Oct. 7. Morgan Stanley strategist Laura Wang on Tuesday revised price targets for the major Chinese stock market indexes, suggesting no room for further gains compared with current levels. "Today's press conference at least in the near term reinforces such belief, in our view, and the stock market could see more divergence at individual stock level."

Persons: Zheng Shanjie, Bilibili, Nio, Ray Dalio, FXI, Jeff deGraaf, David Tepper, Morgan Stanley, Laura Wang, Wang, Merrill Lynch, Helen Qiao, Xiangrong Yu, Yu Organizations: National, Reform Commission, CSI China Internet, Billionaire, Bridgewater Associates, Greenwich Economic, Appaloosa Management, U.S . Federal Reserve, Wynn Resorts, Sands, Macau — Locations: China, Greenwich, Greenwich , Connecticut, Beijing, Macau, Tuesday's, U.S

☆ Investors playing China trade both directly and indirectly, M31 Capital says
▼ + stars: | 2024-10-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors playing China trade both directly and indirectly, M31 Capital saysPatrick Zhong, founding managing partner at M31 Capital, says investors are placing money both directly and indirectly into the China trade, though the effects will take time to play out.

Persons: Patrick Zhong Organizations: Investors, M31 Locations: China

☆ Stocks to play the China trade until the latest stimulus package kicks in
▼ + stars: | 2024-09-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Until the government's measures pan out, investment strategists are recommending a handful of oversold stocks in China. U.S. hedge fund billionaire David Tepper said Thursday on CNBC's " Squawk Box " that he bought more Chinese stocks after the change in China policy. That hedge fund allocation rose to 7.3% on Tuesday, which saw the largest single day purchases by hedge funds since March 2021, Rubner said. Retail investors account for the majority of trading activity in mainland Chinese stocks, also known as A shares. Mainland Chinese stock exchanges are scheduled to close from Oct. 1 to Oct. 7 for a holiday, which this year commemorates the 75th anniversary of the People's Republic of China.

Persons: Wendy Liu, Rupal Agarwal, Bernstein, David Tepper, Donald Trump, Tepper, Pan Gongsheng, Xi Jinping, Scott Rubner, Goldman Sachs, Rubner, Goldman, China hasn't, Li Dongfang, Li, financials, — CNBC's Michael Bloom Organizations: CSI, JPMorgan, Tal Education, Huawei, People's Bank of China, CNBC, HK Locations: Shanghai, Shenzhen, China, Tsingtao, U.S, Zhejiang, Asia, Hong Kong, Beijing, Mainland, People's Republic of China

☆ Trade School: China exposure
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade School: China exposureStephanie Link, CIO at Hightower, joins CNBC's "Halftime Report" to break down the China Trade and share some of the moves she's making in her portfolio.

Persons: Stephanie Link, Hightower Organizations: Email Trade, China Trade Locations: China

☆ Hedge fund billionaire David Tepper says he's loading up on Chinese stocks after the nation's stimulus bazooka
▼ + stars: | 2024-09-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

David Tepper is growing even more bullish on Chinese stocks amid the nation's new fiscal stimulus measures. Tepper views China's stock market as more attractive than the US stock market due to valuation differences. AdvertisementIt's a buy "everything" moment for Chinese stocks after the country launched a fiscal stimulus bazooka this week, according to billionaire investor David Tepper. But Tepper believes Chinese stocks have plenty of room to run higher, even after the recent surges. On US markets, Tepper said he is not following his buy "everything" mantra with Chinese stocks and is being more selective in buying US stocks.

Persons: David Tepper, Tepper, —, Pan Gongsheng, Donald Trump, he's Organizations: Service, CNBC, Fed, Federal, People's Bank of China, PDD Holdings, Tencent Holdings, Management, Wynn Resorts, Vegas Sands, Baidu, China Internet Locations: China, Vegas

☆ These China stocks are favored by analysts no matter how the central bank stimulus pans out
▼ + stars: | 2024-09-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Stocks in China rose in response, with the CSI 300 Index climbing 4.3% Tuesday, its best day since July 2020. But whether or not the latest policy steps succeed, CNBC Pro screened for China stocks that analysts praise regardless of the pace of economic growth at home. About three quarters of analysts covering PDD rate it a buy, and the stock could climb roughly 43% based on analysts' consensus price target. On Tuesday, after the announcement of the latest policies to revive the flagging China economy, PDD shares in the U.S. jumped more than 11%. Other names on the list of favored China stocks included online learning and tutoring provider TAL Education Group and digital shipping platform Full Truck Alliance .

Persons: Hong, Morgan Stanley, Terence Flynn, Flynn, CoreValues, Ben Harburg, CNBC's, Harburg, Biden Organizations: People's Bank of China, CSI, CNBC Pro, China ETF, Therapeutics, YE25, U.S, TAL Education Group, Alliance Locations: China, Ph3, U.S

☆ China-Mexico freight traffic surges in Trump, Biden tariff era, as companies find ways to evade U.S. trade war
▼ + stars: | 2024-09-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +16 min

Patrick T. Fallon | AFP | Getty ImagesNew data shows a surge in trade between China and Mexico at a time of tough tariff talk during the presidential campaign. This nearshoring of manufacturing enables companies to change a product's origin of goods, also referred to as the "economic nationality" of a product. Data from freight analytics firm Xeneta shows China to Mexico container trade up by 26.2% from January to July 2024, after growing by 33% in 2023. Mexico is also a member of the Pacific Alliance, a trade bloc formed by Mexico, Chile, Colombia, and Peru. "Bilateral tariffs should be expected to lead to trade diversion, and that's exactly what happened in the aftermath of the trade war.

Persons: Patrick T, Fallon, Jordan Dethwart, Mary Lovely, Anthony Solomon, Simon Cohen, Peter Sand, Donald Trump, Trump, John Piatek, Biden, Piatek, Lovely, Moody's, Elon Musk, Musk, Tesla, Sand, Charles Van der Steene, Van der, Mexico —, Freightos, Erica York, York, Tim Robertson, Ian Arroyo, Arroyo, Saul Loeb Organizations: El, El Paso Sector, AFP, Getty, U.S, Companies, Peterson Institute for International Economics, Henco Logistics, European Union, European Free Trade Area, Pacific Partnership, Pacific Alliance, GEP, Motive, BMW, Ford, GM, Kia, gigafactory, Volvo, Pirelli, Michelin North America, Hyundai, SFK USA, Maersk, Bureau of Transportation Statistics, CNBC, United, Pacific, Port, U.S ., ITS Logistics, Tax, DHL Global, Dana, Afp Locations: El Paso, Mexico, New Mexico, Chihuahua, Sunland Park , New Mexico, China, Redwood Mexico, United States, Canada, U.S, Japan, Israel, Latin America, Chile, Colombia, Peru, USA, propping, Laredo , Texas, El Paso , Houston, San Diego, Monterrey, Fremont , California, Austin , Texas, Americas, Mexican, Monterrey . Mexico, East, lading, Maersk North America, Tijuana, El Paso , Texas, Pacific Coast Port, Lazaro, Laredo, Monterrey , California, U.S . West, U.S . East, Gulf, West Coast, Asia, Mexico City, Warren , Michigan

☆ EU Chamber of Commerce in China discusses China-EU ties amid EV tariff dispute
▼ + stars: | 2024-09-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU Chamber of Commerce in China discusses China-EU ties amid EV tariff disputeJens Eskelund, president of the chamber, weighs in on EU-China trade tensions.

Persons: Jens Eskelund Organizations: EU, of Commerce Locations: China

Asia-Pacific markets were mixed on Tuesday, following gains on Wall Street that saw both the S&P 500 and Nasdaq Composite rebound from their worst week of the year. The S&P 500 gained 1.16%, after posting its worst week since March 2023. The Nasdaq Composite also jumped 1.16% following its worst week in more than two years. China's exports grew 8.7% year-on-year in August and imports grew 0.5%, customs data showed, compared to the forecast of 6.5% and 2%, respectively, in a Reuters poll. Apple just wrapped up an event at its headquarters in Cupertino, California, where it unveiled the iPhone 16 Pro and the iPhone 16 Pro Max, which join the iPhone 16 and iPhone 16 Plus the company announced earlier.

Organizations: Nasdaq, Traders, Apple Locations: Shanghai, China, Asia, Pacific, India, Cupertino , California

☆ China's foreign trade still very resilient: DBS Bank
▼ + stars: | 2024-09-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's foreign trade still very resilient: DBS BankMo Ji, chief China economist at DBS Bank, expects August China trade data to moderate alongside the weakening of the country's economy.

Persons: Ji Organizations: DBS, DBS Bank Locations: China

☆ JPMorgan downgrades its opinion on China, but still likes these individual stocks
▼ + stars: | 2024-09-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Instead, JPMorgan increased its overweight recommendations on other emerging markets. Even after the change, JPMorgan still holds 18 China stocks in its global emerging markets model portfolio. The JPMorgan analysts said uncertainties about the China economic outlook range from tensions with the U.S. to "lingering deflation pressure." During three periods of escalating U.S.-China trade tensions in 2018 and 2019, the MSCI China index fell each time, according to JPMorgan China Equity Strategist Wendy Liu. As part of its China stock downgrade, JPMorgan added shares of state-owned utility operator CR Gas , while removing shares of PDD, China Construction Bank and Kingdee International.

Persons: Pedro Martins, Chetan Seth, Jake Sullivan, Kamala Harris, Joe Biden's, Harris, Donald Trump, Wendy Liu, ByteDance, — CNBC's Michael Bloom Organizations: JPMorgan, Wednesday, Sunday, Reuters, Nomura's, Nomura, JPMorgan China Equity, CR Gas, China Construction Bank, Kingdee International, Kuaishou Technology, Meituan, Hong Locations: China, U.S, Nomura's Asia, Japan, Beijing, PDD, Hong Kong, Thursday's

☆ A Trump 2.0 administration would raise tariffs on China to force trade deal: Clete Willems
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA Trump 2.0 administration would raise tariffs on China to force trade deal: Clete WillemsClete Willems, partner at Akin and former deputy director of the National Economic Council under President Donald Trump, discusses what Trump's China trade policy would be like if he regains the presidency.

Persons: Clete Willems Clete Willems, Akin, Donald Trump Organizations: Trump, National Economic Council Locations: China

☆ If a company you own expanded heavily into China, it's getting killed right now, says Jim Cramer
▼ + stars: | 2024-07-30 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIf a company you own expanded heavily into China, it's getting killed right now, says Jim Cramer'Mad Money' host Jim Cramer looks at the state of the China trade on Wall Street right now.

Persons: it's, Jim Cramer Locations: China

☆ Jim Cramer looks at forces working against the bulls, including China
▼ + stars: | 2024-07-30 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer looks at forces working against the bulls, including China'Mad Money' host Jim Cramer looks at the state of the China trade on Wall Street right now.

Persons: Jim Cramer Locations: China

☆ Gold firms ahead of U.S. inflation data, but set for weekly loss
▼ + stars: | 2024-07-26 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold was on track for a weekly loss, even as prices firmed on Friday ahead of a key U.S. inflation reading that could offer more cues on when the Federal Reserve will cut interest rates. "Last week, prices scaled record highs on bets of a September U.S. rate cut. The U.S. personal consumption expenditure data for June — the Federal Reserve's favored measure of inflation — is due at 1230 GMT. Meanwhile, India's demand for gold is likely to rise while moving into the fourth quarter, which is traditionally a robust seasonal period for gold demand," ANZ's Kumari said.

Persons: Gold, Soni Kumari, Sugandha Sachdeva, ANZ's Kumari Organizations: Aurum, Federal Reserve, ANZ, SS, U.S ., Hong Kong Locations: U.S, New Delhi, China, Hong

☆ Trump 2.0 could go 'nuclear' on China trade, while economists say Harris would remain tough
▼ + stars: | 2024-07-24 | by ( Dylan Butts | ) www.cnbc.com time to read: +5 min

According to Prasad and other experts, Harris' approach to China would likely be similar to that of Biden. Trump's biggest diversion from Biden-era trade policy would likely be tariffs levied on China. The Trump administration reached a "phase one trade deal" with China in 2019, but few terms were honored and subsequent phases never materialized. Tech warwatch nowThe Biden administration also announced rules limiting U.S. investment in Chinese firms developing sensitive technologies, citing national security concerns. She said channels for the two countries to discuss policy issues decreased significantly during the Trump administration, whereas the Biden administration emphasized its diplomatic engagement efforts.

Persons: Donald J, Trump, Bill Pugliano, Donald Trump, Joe Biden, Eswar Prasad, Kamala Harris, Biden, Prasad, Harris, Biden —, Stephen Weymouth, Economist Stephen Roach, William Reinsch, Scholl, Reinsch, JD Vance, Arthur Dong, Chris Miller, Miller, Rorry Daniels Organizations: Van, Getty, House, CNBC, U.S, Cornell University, Trump, International Monetary, Georgetown University, Economist, Center for Strategic, International Studies, Beijing, Georgetown, Tech, Asia Society Policy Institute Locations: Grand Rapids , Michigan, China, Beijing, Ohio, Washington, U.S, Japan, Netherlands

☆ Opinion | Is the Populism of the Trump G.O.P. Real or Fake?
▼ + stars: | 2024-07-23 | by ( Julius Krein | ) www.nytimes.com time to read: +1 min

Before last week’s Republican convention, Donald Trump seemed to be moving away from the populism that characterized his 2016 campaign. “He’s defending big business, cozying up to billionaires, and wooing C.E.O.s.”When Mr. Trump named Senator JD Vance of Ohio as his running mate, though, pundits quickly concluded that he was doubling down on populism. In his convention speech, Mr. Vance denounced NAFTA and China trade deals and promised to prioritize American workers over multinational corporations. On the other hand, in a long interview with Bloomberg (conducted in late June) that came out after the announcement of Mr. Vance’s selection, Mr. Trump hardly sounded like a firebrand economic populist. He floated the idea of reducing corporate tax rates to 15 percent and said he’d consider the JPMorgan Chase C.E.O., Jamie Dimon, as a potential Treasury secretary.

Persons: Donald Trump, isn’t, Karma, “, C.E.O.s, Trump, JD Vance, Ohio, Vance, Reagan, Bush, Lina Khan, he’d, JPMorgan Chase, Jamie Dimon, Trump’s Organizations: Republican, Federal Trade Commission, China, Bloomberg, JPMorgan, JPMorgan Chase C.E.O Locations: The

☆ These stocks will be the winners and losers of rising U.S.-China trade tensions, Wall Street says
▼ + stars: | 2024-07-19 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

For Europe, the prime concern is tariffs," wrote Goldman analysts. "If the entire impact came in 2025 this would be enough to eliminate any growth that year (our current top-down forecast is 4%)," Goldman wrote. Within sectors, beneficiaries of rising trade risks tend to be defensive stocks such as utilities, health care as well as Europe's GRANOLAS stocks, according to the bank. But he says a "meaningful selloff" in mega tech will see other names "pushed down as collateral damage." And if the AI narrative plays out as expected, a material sell-off in Mega Tech will present a buying opportunity in those names as well," he wrote.

Persons: Biden, Donald Trump, Trump, Europe's, Goldman Sachs, Goldman, Louis Navellier, — CNBC's Michael Bloom Organizations: Bloomberg, Taiwan, Trump, U.S, JPMorgan, China Gas, Power, Huaneng, Republicans, National Security, Hire, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Liquide, Tobacco, Dassault Systemes, Intercontinental Hotels, Nvidia, Navellier, Associates, Mega Tech Locations: China, Taiwan, U.S, Hong Kong, Europe, United States, Germany, France, Stellantis

☆ Chinese-US tensions ramp up after Xi halts nuclear arms talks
▼ + stars: | 2024-07-18 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +3 min

Read previewChina has pressed pause on arms control and nuclear proliferation talks with the US, blaming the suspension on US arms sales to Taiwan. This story is available exclusively to Business Insider subscribers. "China has chosen to follow Russia's lead in asserting that engagement on arms control can't proceed when there are other challenges in the bilateral relationship. US President Joe Biden and Chinese leader Xi Jinping began talks on nuclear proliferation and arms control in November, ahead of the first formal dialogue between the US and China in five years. Representatives for Biden and Jinping did not immediately respond to requests for comment from Business Insider.

Persons: —, Matthew Miller, Joe Biden, Xi Jinping, Ali Wyne, Donald Trump, JD Vance, Biden, Jinping Organizations: Service, Communists, Business, US State Department, Crisis, Pentagon, Biden, Brookings Institution, Trump Locations: China, Taiwan, Beijing

☆ Chip stocks suffer a mini-meltdown as more potential trade restrictions threaten the industry
▼ + stars: | 2024-07-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at why reports of more potential trade restrictions have chip companies on their heels . Trade restrictions are certainly real concerns for chip companies. AdvertisementThe supply-chain base for most of the chip industry is in Taiwan, specifically TSMC. Politicians and regulators have no interest in making American AI companies less competitive and demand is still extremely high. With so much geopolitical tension, is it possible the chip industry becomes more regionalized?

Persons: —, Dan Schneider's, Rebecca Zisser, Joe Biden, Insider's Kelly Cloonan, Biden, chipmakers, Trump, Emma Cosgrove, It's, Marianne Ayala, aren't, Dan Ives, influencers, Donald Trump, JD Vance, Tyler Le, Elon Musk, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Dan Schneider's Nickelodeon, Business, Nvidia, AMD, Bloomberg, China, YouTube, JPMorgan, Apple, Republican National Convention, Netflix Locations: China, Netherlands, Taiwan, Texas, California, New York, London

Vance’s Republican National Convention speech capped a night Republicans spent prosecuting what they see as President Joe Biden’s biggest foreign policy failures and their consequences. Republicans used Wednesday night to introduce Vance and his life story to the nation. You owe President Trump answers!” Tennessee Sen. Marsha Blackburn shouted at Cheatle, who continued to walk with her head down and ignore the senators’ criticism. Energy security and energy policy are in the governor’s comfort zone and that was on full display Wednesday night. When Trump finally did call Burgum, the former president told Burgum he would not be his running mate.

Persons: Donald Trump’s, Ohio Sen, JD Vance, Republican Party —, Joe Biden’s, ”, William Pekrul, Trump, Kai Trump, Vance, –, Biden Vance, Trump’s MAGA, ” Vance, Usha, —, Sen, Biden, Vance’s, Usha Vance, wasn’t, Usha Vance’s, JD, Yale Law School –, humanize, he’d, “, Brett Kavanaugh, John Roberts, Peter Navarro, he’s, Navarro, Donald Trump, Paul Manafort, Manafort “, ” Trump, Cheryl Juels, Nicole Gee, ’, “ Joe Biden, ” Juels, Herman Lopez, Hunter Lopez, haven’t, Lopez’s, Alicia Lopez, Harris, ” Herman Lopez, Khizr, Ghazala Khan, ” Khizr Khan, Kimberly Cheatle, Tennessee Sen, Marsha Blackburn, Cheatle, ” Sen, John Barrasso, Blackburn, James Lankford, Kevin Cramer, Barrasso, Cheatle’s “, ” Cheatle, “ We’re, ” “, Cramer, Burgum’s, Doug Burgum’s, Achilles, Burgum, “ Hey, Treene, Morgan Rimmer Organizations: Wisconsin CNN, Republican Party, Republican, Convention, Gold Star, Jewish Harvard University, “, Republicans, Republican National, Marines, Yale Law School, Trump, North American Free, Ivy, Ohio State University, Michigan, China, Senate, Yale University, Appeals, District of Columbia Circuit, Fox News, RNC, Trump White House, CNN Gold Star, Hamid, CNN, Biden, Secret, Fiserv, Tennessee, ”, Blackburn, Sens, North Dakota Gov, Energy, Republican National Convention Locations: Milwaukee, Wisconsin, Afghanistan, Ohio, Washington, American, Mexico, China, Iraq, Pennsylvania, Michigan, Ukraine, San Diego, Florida, America, Kabul, States, United States

☆ Asia is preparing for a rogue US if Trump and Vance win the election, security and foreign policy experts say
▼ + stars: | 2024-07-18 | by ( Matthew Loh | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewFormer President Donald Trump upended the election tradition of "balancing the ticket" when he picked Ohio Sen. JD Vance as his running mate. Vance, a former Trump critic turned MAGA stalwart, has voiced foreign policy views in lockstep with Trump. "I think Trump's tenure has shown that fears of abandonment or ignorance of politics in Asia are overblown," he said. US-China relations won't change much, whether it's Trump or Biden at the wheelEven though Trump started the US-China trade war, experts say that China won't be too bothered if he returns to the White House. AdvertisementFor one, the Biden administration has kept most of Trump's China tariffs in place.

Persons: —, Donald Trump upended, Ohio Sen, JD Vance, MAGA, Asia that's, Vance, Trump, Dylan Loh, Loh, Chong Ja Ian, It's, it's Trump, Biden, NTU's Loh, Joe Biden hasn't, Kevin Chen, Mr Trump, Chen Organizations: Service, Trump, Business, Pacific, Asia, Nanyang Technological University, NTU, National University of Singapore, NATO, Democrat, Republican, NTU's, Rajaratnam, of International Studies Locations: Asia, lockstep, China, Ukraine, Europe, Japan, South Korea, Taiwan, Philippines, South China, France, Beijing, Pacific

☆ Former Activision Blizzard CEO Bobby Kotick on new venture, impact of AI and China trade relations
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Activision Blizzard CEO Bobby Kotick on new venture, impact of AI and China trade relationsCNBC’s Julia Boorstin and former Activision Blizzard CEO Bobby Kotick join 'Squawk Box' to discuss his latest philanthropic ventures, the impact of AI on the economy and the workforce, the need for a reciprocal trade with China, state of the 2024 election, and more.

Persons: Bobby Kotick, CNBC’s Julia Boorstin Organizations: Former Activision, Activision Locations: China

☆ Germany blocks sale of VW gas turbine business to China
▼ + stars: | 2024-07-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London/Berlin CNN —Germany has blocked the sale of a Volkswagen subsidiary to China on national security grounds, delivering a fresh blow to the already tense relationship with its biggest trading partner. MAN Energy Solutions, part of the Volkswagen Group, said in June 2023 that it planned to sell its gas turbines business to Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT). But a German government review, initiated in September, raised concerns that China might use the gas turbines to power warships, according to Reuters. In November 2022, Germany blocked the sale of one of its semiconductor factories to a Chinese-owned tech company, also citing security concerns. “(We) will now initiate a structured process to close-down the gas turbine division, which will take place over the coming months,” the company added in a statement shared with CNN.

Persons: Robert Habeck, ”, Nancy Faeser Organizations: Berlin CNN —, Volkswagen, MAN Energy Solutions, Volkswagen Group, GH Gas Turbine Co, Reuters, European Union, Ukraine —, China’s Ministry of Foreign Affairs, CNN Locations: Berlin, Berlin CNN — Germany, China, Beijing, Germany, Russia, Ukraine

Search resuls for: "China Trade"

25 mentions found