BEIJING (Reuters) -China and the Vatican have agreed to extend an accord on the appointment of Catholic bishops in China for a longer period of four years, Beijing said on Tuesday. The Vatican struck a landmark deal with the Beijing government in 2018. The agreement, which was previously renewed every two years, gives Chinese officials…
The 10-year Treasury yield leaps higher … Chinese stocks surge then collapse … the war over automation isn’t over … watch Tesla’s “We, Robot” event tomorrow With the Fed now in rate-cutting mode, why are Treasury yields racing higher? As you’re aware, the Federal Reserve cut its target interest rate by 50 basis points on…
The explosive Chinese stock rally over the last month finally lost steam today after a press conference by Chinese officials failed to sustain investor exuberance over previously announced stimulus measures. Shares of the electric carmaker Li Auto (NASDAQ: LI) traded nearly 7.5% lower as of midday, while shares of the search giant and artificial intelligence…
(Bloomberg) — Beijing is stepping up pressure on Chinese companies to buy locally produced artificial intelligence chips instead of Nvidia Corp. products, part of the nation’s effort to expand its semiconductor industry and counter US sanctions. Most Read from Bloomberg Chinese regulators have been discouraging companies from purchasing Nvidia’s H20 chips, which are used to…
China’s newest nuclear attack submarine has sunk in a shipyard accident, in a setback to the country’s attempts to overtake the United States in a naval arms race, according to US officials. The sinking of the first of a new Zhou-class of nuclear-powered submarines triggered a scramble for Beijing to cover up the incident, officials…