March 28, 2024
Finance

Starbucks’ stock continues to struggle as competition heats up in the US, overseas

Starbucks (SBUX) is looking to find its footing amid a sea of rising global competition. Shares of the coffee chain are struggling as the company is being hit on multiple fronts, including a pullback in occasional visits in the US, cautious consumers in China, and increasing investments in coffee from players big and small. The

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Investors

Xi Jinping meets US executives, tries to woo foreign investors – Firstpost

Even though Chinese leaders openly court international investors, many businesses are unsure of when to cross the line due to Xi’s growing emphasis on national security Image Courtesy Reuters At the Great Hall of the People in Beijing on Wednesday, Chinese President Xi Jinping met with American business leaders. This is part of the government’s

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Finance

Stocks Pull Back as Traders Await Fresh Catalysts: Markets Wrap

(Bloomberg) — US stocks were poised to open lower after last week’s strong rally as investors assessed the outlook for corporate earnings ahead of key data from the US that may give further clues on the Federal Reserve’s policy path. Most Read from Bloomberg Futures on the S&P 500 slipped after Wall Street’s best weekly

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Finance

China blocks use of Intel and AMD chips in government computers, FT reports

(Reuters) -China has introduced guidelines to phase out U.S. microprocessors from Intel and AMD from government personal computers and servers, the Financial Times reported on Sunday. The procurement guidance also seeks to sideline Microsoft’s Windows operating system and foreign-made database software in favour of domestic options, the report said. Government agencies above the township level

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Finance

Why China’s options in response to a TikTok ban are limited

Chinese officials decried the lack of “fairness” in the US last week following the swift passage of a House bill that called for Chinese company ByteDance to divest its popular social media app TikTok. A foreign ministry spokesperson for China accused the US of using national security as a guise to “willfully suppress other countries’

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Finance

China Loosens Cross-Border Data Rules on Business Pressure

(Bloomberg) — China relaxed rules governing cross-border data flows, addressing a key concern of foreign businesses that had complained previous regulations were disrupting their operations. Most Read from Bloomberg Data collected in international trade, cross-border travel, manufacturing, academic research, and marketing that don’t contain either personal information or “important” information will be exempt from security

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Finance

Doing business in China is growing tougher, more uncertain, European business group says

BEIJING (AP) — Uncertainty and “draconian regulations” have drastically raised risks for foreign businesses in China, a report by a European business group said Wednesday. The lengthy paper by the European Union Chamber of Commerce in China urges China’s leaders to do more to address concerns that it says have “grown exponentially” in recent years.

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Funds

China’s Jan-Feb property investment declines narrow

BEIJING (Reuters) -China’s fragile housing market opened this year with slower declines in property investment and sales, buoyed by government efforts to arrest a protracted downturn in the sector, official data showed on Monday. Property investment in China fell 9.0% year-on-year in the first two months of 2024, compared with a 24.0% fall in December

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Loans

China February new bank loans dip more than expected, lending growth at record low

Chinese national flags flutter at Tian’anmen Square ahead of the annual two sessions on Feb. 29, 2024 in Beijing, China. New bank lending in China fell more than expected in February from a record high the previous month, even as the central bank seeks to spur sluggish economic growth and fight deflationary pressures. Vcg |

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Investors

ByteDance investors could win in TikTok sale says US lawmaker amid pressure to ban app over China espionage concerns

Investors in TikTok’s Chinese parent company stand to benefit if it sold the app because divestment would remove a source of uncertainty, a Republican lawmaker said. “It would be in the financial interest of ByteDance’s investors to effectuate a forced sale,” congressman Mike Gallagher, who spearheaded a House-passed bill aimed at making the company divest

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