A Chinese industry association urgedBloomberg Terminal international companies to use cotton produced in Xinjiang after the head of Uniqlo’s parent said the fashion retailer doesn’t source fiber from the region. Tadashi Yanai, the chief executive officer of Japan’s Fast Retailing Co., made the remark last week in an interview with the BBC, which led to…
China will set another record for solar power installations this year even as the industry producing the equipment suffers from falling prices and profit margins. The country will install 230 to 260 gigawatts of solar capacity this year, said Wang Bohua, chairman of the China Photovoltaic Industry Association. That will top the record of 217…
AstraZeneca Plc has appointed Iskra Reic as executive vice-president of its international business, replacing Leon Wang who is under investigation by Chinese authorities. The moveBloomberg Terminal comes less than a month after the UK drugmaker confirmed that Wang, who is also president of Astra’s China division, had been detained. Source link
Hong Kong’s third airport runway officially starts operating on Thursday, but there’ll be hardly any additional flight capacity for at least another year. Aircraft movement will grow only up to 4% next summer season — March to October 2025 — according to documents published by the city’s Civil Aviation Department. Source link
Jeff Bezos has shot down Elon Musk’s claim that the Amazon.com Inc. founder told “everyone” Donald Trump would lose the US election and they should sell off their SpaceX and Tesla Inc. stock. “Nope. 100% not true,” Bezos said in a rare post Thursday on X, the social media platform Musk owns. Musk then appeared…
The S&P 500 Index has given back more than half of its post-election rally as Friday’s selloff steepens, with sticky inflation and hawkish comments from the Federal Reserve weighing on sentiment. The broad equities benchmark was down 1.4 percent at midway through the session, putting it on track to lose 2.2 percent for the week,…
AST SpaceMobile Inc., which aims to challenge Elon Musk’s SpaceX in the nascent market for space-based cellular service to mobile phones, has signed contracts with Jeff Bezos-founded Blue Origin and at least one other unnamed provider to launch dozens of its satellites into orbit. The Midland, Texas-based company will use Blue Origin’s forthcoming New Glenn…
China needs to deploy more economic stimulus if copper demand is to revive, according to a major importer of the metal. The government has issued a slew of measures since late September to shore up confidence in the world’s biggest buyer of metals, where a prolonged slowdown in the property market is dragging on growth….
MMC Norilsk Nickel PJSC, Russia’s biggest miner, is in advanced talks to build a large copper smelter on China’s south coast, according to people familiar with the situation. The plant, to be located in the port city of Fangchenggang in Guangxi region, would produce 500,000 tons of refined copper a year using concentrate shipped from…
China’s luxury market may recover in the next 24 months as the country’s economy bounces back, Bulgari Chief Executive Officer Jean-Christophe Babin said. The LVMH-owned jeweler has seen a more visible downturn this year in China at its brick-and-mortar stores versus online channels that can reach more customers including those in smaller cities, Babin added…