Catch up on some of SCMP’s biggest China and economy stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. China to restrict exports of critical minerals to US, commerce ministry says China announced on Tuesday it would restrict exports of materials with both civilian and military…
Check out the companies making the biggest moves in premarket trading: U.S. Steel — Shares tumbled 7% after President-elect Donald Trump said late Monday he will block the purchase of the steelmaker by Japan’s Nippon Steel. A deal was reached in late 2023 for Nippon Steel to buy U.S. Steel, but it has since encountered…
Once Elon Musk’s cofounder, OpenAI CEO Sam Altman is now at the top of Musk’s “list of enemies”—and he’s not staying quiet about how much he resents him and his company. In an expanded version of a previous lawsuit, Musk called OpenAI a “market-paralyzing gorgon,” the Wall Street Journal reported. He’s also taken to calling…
China has announced it is banning exports to the United States of gallium, germanium, antimony and other key high-tech materials with potential military applications BANGKOK — China announced Tuesday it is banning exports to the United States of gallium, germanium, antimony and other key high-tech materials with potential military applications. The Chinese Commerce Ministry announced…
TOKYO (AP) — Global shares were mostly higher on Tuesday after technology stocks pulled Wall Street to another record finish. France’s CAC 40 added nearly 0.9% in early trading to 7,298.06. Germany’s DAX rose 0.7% to 20,041.15, while Britain’s FTSE 100 rose 0.6% to 8,360.63. U.S. shares were set to drift higher with Dow futures…
President Joe Biden holds up a semiconductor as he delivers remarks before signing an Executive Order on the economy in the State Dining Room at the White House in Washington, D.C., on February 24, 2021. On Monday, his administration announced further rules to prohibit the export of semiconductor technology to China. Pool File Photo by…
BANGKOK (AP) — The U.S. Commerce Department has expanded the list of Chinese technology companies subject to export controls to include many that make equipment used to make computer chips, chipmaking tools and software. The 140 companies newly included in the so-called “entity list” are nearly all based in China. But some are Chinese-owned businesses…
Art Cashin, UBS’ director of floor operations at the New York Stock Exchange who spent more than 60 years on Wall Street, has died aged 83. “It is with a heavy heart that I inform you of the passing of Arthur Cashin, Jr., a true giant in our industry, highly regarded market pundit,” Bill Carroll, head of sales…
A Delaware judge ruled on Monday that Tesla CEO Elon Musk still is not entitled to receive a $56 billion compensation package despite shareholders of the electric vehicle company voting to reinstate it. The ruling by the judge, Chancellor Kathaleen McCormick of the Court of Chancery, follows her January decision that called the pay package excessive and rescinded it, surprising investors,…
France’s major far-right party is ready to take down Michel Barnier’s government after he declined to meet all of their demands for next year’s budget. The breakdown was sparked by a move by Barnier to use a constitutional mechanism that allows for the adoption of the social security bill without a vote. Marine Le Pen’s…