Two US senators are calling on the Federal Trade Commission to look into TikTok for “repeated misrepresentations” of how it’s used US user data. BuzzFeed News is owned by the same parent company as HuffPost. The senators, in their joint letter, asked for an investigation due to “apparent deception by TikTok” and suggested the app …
Senators Urge Investigation Into TikTok’s Data Security ‘Misrepresentations’ Read More »
President Joe Biden could decide “pretty soon” on a modest relief package to roll back some US tariffs imposed on China in an effort to tamp down inflation, said Clete Willems, who previously served as deputy director at the National Economic Council. “What we are expecting that the president is deciding on is a relatively …
Former US trade negotiator expects a ‘modest’ rollback of China tariffs Read More »
Hackers claim to have obtained a trove of data on 1 billion Chinese from a Shanghai police database in a leak that, if confirmed, could be one of the largest data breaches in history. In a post on the online hacking forum Breach Forums last week, someone using the handle “ChinaDan” offered to sell nearly …
Hackers offer data on 1 billion Chinese after alleged leak | Business and Economy News Read More »
United States Treasury Secretary Janet Yellen and Chinese Vice Premier Liu He discussed economic issues including international trade and supply chains, as the Biden administration considers lowering tariffs on Chinese goods to tame soaring inflation. In a virtual meeting with her Chinese counterpart on Tuesday, Yellen “frankly” raised concerns about China’s “unfair, non-market” economic policies …
US, China talk trade, supply chains as Biden weighs tariff cuts | Business and Economy Read More »
The leak could be one of the biggest ever recorded in history, cybersecurity experts say, highlighting the risks of collecting and storing vast amounts of sensitive personal data online — especially in a country where authorities have broad and unchecked access to such data. The vast trove of Chinese personal data had been publicly accessible …
Chinese automaker BYD, which is backed by Warren Buffett, has surpassed Tesla as the world’s leading electric vehicle seller. Driving the news: BYD sold 638,157 electric or plug-in hybrid passenger vehicles in the first six months of 2022, according to company filings published on July 3. The figure represents a nearly 325% year-on-year increase from …
Elon Musk’s Tesla is no longer the world’s largest EV producer Read More »
President Biden is poised to roll back tariffs on some Chinese imports in an effort to slow soaring rates of inflation not seen in the country for decades. A decision by Biden could be announced as soon as this week, according to The Wall Street Journal. The Biden administration is wrapping up a mandatory review …
Biden may lift Chinese tariffs in bid to tackle inflation: report Read More »
SINGAPORE — Shares in the Asia-Pacific mostly rose on Tuesday as the Reserve Bank of Australia hiked interest rates in line with expectations. South Korea’s Kospi increased 1.8% to close at 2,341.78, and the Kosdaq advanced 3.9% to 750.95. SK Hynix jumped 3.82% while Naver rose 3.4%. The Nikkei 225 in Japan gained about 1% …
RBA rate decision, services PMI, currencies, oil Read More »
Hong Kong CNN Business — Another major Chinese developer has defaulted on its debt, dealing a new blow to the ailing real estate sector in the world’s second largest economy. Shanghai-based Shimao Group failed to pay the interest and principal on a $1 billion bond due Sunday, according to a company filing to the Hong …
Shimao, a big Shanghai real estate developer, defaults on debt Read More »
SINGAPORE — Australian stocks rose more than 1% while Hong Kong and South Korean markets were lower on Monday ahead of Australia and Malaysia central bank decisions this week. The S&P/ASX 200 advanced 1.26%, with banking and retail stocks in the green. Japan and mainland China markets were also higher. The Nikkei 225 in Japan …
Asia-Pacific markets are mixed as investors search for direction Read More »