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China Crisis Series

China begins probe on Alibaba for anticompetitive behavior

Dec 25, 2020 23:53 pm UTC| Business

China has launched an antitrust investigation into Alibaba Group as part of an accelerating crackdown on anticompetitive behavior in Chinas internet space. It will summon the tech giants Ant Group affiliate for a...

Japan to promote EVs, wind power towards carbon neutrality

Dec 25, 2020 23:48 pm UTC| Business

The Japanese government unveiled an action plan that specifies 14 key areas to promote electric vehicles and offshore wind power generation as part of Japans efforts to achieve carbon neutrality by 2050 in the battle...

Mexico to allow more importation of S. Korean cold-rolled steel products

Dec 25, 2020 23:42 pm UTC| Business

Mexico has agreed to increase its import quota of South Korean cold-rolled steel products, after announcing last month that it would increase importation from 548,000 tons in 2019 to 662,000 tons in 2023. South Korean...

5 automakers in S. Korea to recall 210,738 vehicles

Dec 25, 2020 23:32 pm UTC| Business

Five carmakers in South Korea are voluntarily recalling a combined 210,738 vehicles of 76 models to fix faulty components, the Ministry of Land, Infrastructure, and Transport said. GM Korea Co., BMW Group Korea,...

Thom Browne to launch new line of perfumes in S. Korea after posting 30% growth

Dec 25, 2020 00:20 am UTC| Business

US fashion brand Thom Browne will launch a new perfume line consisting of six variants in South Korea after seeing a 30 percent on-year growth this year. The perfumes to be released will include Vetyver Absolute, and...

US sues Walmart for irresponsible handling of opioid orders, wrong prescriptions

Dec 25, 2020 00:12 am UTC| Business

The US Justice Department sued Walmart over its role in the opioid crisis, alleging irresponsible handling of orders, wrongly filling thousands of prescriptions, and ignoring warning signs about problem orders to boost...

S. Korea to invest over 500 billion won in biotech next year

Dec 25, 2020 00:00 am UTC| Business

South Korea will invest 520 billion won in biotechnology next year to boost its development of treatment and vaccines for COVID-19. The Ministry of Science and ICT said the figure represents a 24.9 percent hike from...

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Economy

Gold Holds Near Two-Month High as Treasury Yields Fall

Gold prices remained close to a more than two-month high on Thursday as falling U.S. Treasury yields, a softer dollar and expectations for easier financial conditions boosted demand for the precious metal. Spot gold...

Oil Prices Rise as Trump Threatens Tougher Iran Economic Measures

Oil prices climbed on Thursday, extending their winning streak to five sessions as escalating tensions between the United States and Iran heightened concerns over global crude supply. Brent crude futures gained 0.3% to...

Australia Unemployment Rate Hits 4.5% as Jobs Fall in July

Australias unemployment rate climbed to 4.5% in July, signaling further weakness in the labor market and potentially influencing the Reserve Bank of Australias (RBA) interest rate decision at its September meeting....

Japan Trade Deficit Widens as Imports Surge on Energy and AI Demand

Japan recorded a trade deficit of 634.58 billion yen ($4.01 billion) in July as strong export growth was outweighed by an even sharper rise in imports, according to data from the Ministry of Finance. The July trade deficit...

Asian Currencies Steady as Dollar Weakens After Treasury Bond Buybacks

Asian currencies stabilized on Thursday following strong gains in the previous session, while the U.S. dollar remained under pressure as investors assessed Washingtons efforts to ease volatility in the Treasury bond...

Politics

South Korea Estimates North Korea Has Up to 120 Nuclear Warheads

South Korea estimates that North Korea may possess between 80 and 120 nuclear warheads, Defence Minister Ahn Gyu-back said Thursday, offering a significantly higher range than U.S. President Donald Trumps recent figure of...

Australia Summons Israeli Ambassador Over Gaza Aid Worker Death

Australia has summoned Israels ambassador and condemned the Israeli militarys decision not to pursue criminal proceedings over the 2024 Gaza airstrike that killed Australian aid worker Zomi Frankcom and six of her World...

Trump Threatens Economic Penalties on Countries Supporting Iran

U.S. President Donald Trump has threatened sweeping economic consequences against countries providing what he described as a lifeline to Iran, escalating pressure nearly six months into the U.S.-Israel war with Tehran. The...

Russia Strikes Kyiv With Drones and Airstrikes, Targets Military Facilities

Russia launched a series of airstrikes and drone attacks on Kyiv and the surrounding region, targeting military and logistics facilities, according to the Russian Defence Ministry. In a statement published on Telegram, the...

Trump Threatens ‘Crushing’ Iran Sanctions as Hormuz Standoff Deepens

U.S. President Donald Trump said Wednesday evening that Washington is preparing tougher economic restrictions on Iran as tensions between the two countries continue over the Strait of Hormuz. Trump warned that countries...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Samsung Eyes $72 Billion Shareholder Return Plan as AI Chip Boom Fuels Profits

Samsung Electronics is reportedly preparing a new shareholder return policy worth more than 100 trillion won ($71.75 billion), as booming demand for artificial intelligence chips drives expectations of record profits at...

SK Hynix Shares Surge on Record $28.6 Billion Buyback

SK Hynix shares staged a strong rebound on Thursday after the South Korean memory-chip giant announced a record 40 trillion won ($28.6 billion) share buyback and cancellation plan, providing fresh confidence to investors...

OpenAI Revenue Rises 18% in Q2 as Losses Widen and Anthropic Surges Ahead

OpenAI reported an 18% increase in second-quarter revenue, but widening losses and rapid growth at rival Anthropic are adding pressure on the ChatGPT maker, according to The Wall Street Journal. OpenAI told investors that...

Unitree Robotics Shares Soar Over 600% in Shanghai Market Debut

Unitree Robotics shares skyrocketed in their Shanghai stock market debut on Wednesday, highlighting surging investor interest in Chinas robotics and artificial intelligence sectors. The Chinese humanoid robot maker saw its...

Goldman Sachs Names 9 Top Japanese Semiconductor and Electronics Stocks

Goldman Sachs has identified nine Japanese semiconductor and electronic components stocks it believes are well positioned for growth, particularly as artificial intelligence and data center demand accelerates. The bank...