Business News
Latest business news and updates
Total: 487
From Public Rebuke to High‑Profile Hires: How Reputation and AI Are Reshaping China’s Corporate Playbook
A People’s Daily editorial has sounded a warning about the responsibilities of influential self‑media figures after a restaurant controversy, underscoring rising expectations for corporate and platform conduct. Concurrently, New Oriental’s hire of philanthropist Chen Xingjia and a string of AI partnerships in culture and biomedicine signal firms’ strategies to combine reputational capital with specialised, scenario‑driven AI deployments.
Wall Street’s Triple Shock: Tech Sells Off as Bonds and the Dollar Diverge, Nvidia Loses Nearly $200bn Overnight
U.S. stocks tumbled, Treasury yields rose and the dollar weakened in a one-day market shock that left tech giants especially bruised. Nvidia lost roughly $195.6 billion in market value overnight, while gold surged as investors sought refuge from heightened volatility. The episode highlights how quickly gains in richly valued tech names can be reversed when yields rise and risk sentiment deteriorates, with potential spillovers to global markets and emerging economies.
Bitcoin Slides Below $88,000 in a 5% Intraday Drop, Reawakening Volatility Fears
Bitcoin dipped below $88,000 on Jan. 21, falling about 5% intraday and renewing concerns about acute volatility in crypto markets. The drop reflects a combination of profit-taking, leveraged positions, and fragile liquidity, with implications for exchanges, institutional products and investor sentiment.
China’s ZhiTe New Materials Rockets 229% This Year as AI-and-Space Hype Collides with Company Denials
ZhiTe New Materials (300986) has surged about 229% year‑to‑date after publicity around AI‑assisted materials research and a high‑temperature insulating product, but the company says those technologies remain at the lab stage and have generated no revenue. The rally reflects both genuine improvements in revenue and cash flow and speculative market interest in trendy tech narratives, raising questions about disclosure and the sustainability of the share price surge.
China’s Baijiu Slowdown Hits Shuijingfang Hard — A Sign of Broader Pain for Premium Spirits
Shuijingfang reported a 71% drop in 2025 net profit amid plunging revenue and industrywide headwinds, missing market forecasts and recording its weakest profit since 2018. The company's majority owner, Diageo, is under pressure from weak Chinese demand and has been linked to possible asset sales, while the broader baijiu sector confronts shifting consumption patterns and new anti‑waste rules that curb traditional drinking occasions.
Mega-Cap Slide Sends US Market Lower as Chip Stocks Diverge
US markets opened substantially lower as major technology giants fell more than 2%, dragging the Nasdaq down 1.59%. At the same time, semiconductor and storage names such as UMC surged after a production milestone, highlighting a sector rotation that is reshaping market leadership.
TCL to Take Operational Control of Sony’s TV Business in Move That Could Accelerate Industry Consolidation
TCL Electronics and Sony have agreed a memorandum of understanding to form a joint venture in which TCL would hold 51% and Sony 49% to run Sony’s home entertainment business, including BRAVIA-branded TVs. The deal, subject to a final agreement by March 2026 and operations beginning April 2027, would give TCL operational control of Sony’s TV unit and could accelerate consolidation in the global television market. The transaction pairs TCL’s rising manufacturing and panel capacity with Sony’s premium brand, promising scale and market-share gains but raising questions about brand stewardship, regulatory approval and competitive responses from other global players.
Chinese Banks Ride Commercial Space: Satellites Become a New Tool for Loan Monitoring and Disaster Resilience
China Merchants Bank and Shanghai Pudong Development Bank have launched satellites into the Tianqi low‑Earth orbit constellation to bolster loan monitoring, improve disaster resilience and develop new data services. The launches underscore a trend of Chinese banks adopting commercial space assets to enhance risk controls, though regulatory, privacy and technical limits will shape adoption.
Gold Surges Past $4,700 as Geopolitics and ETF Flows Drive a New Bull Run — Can It Last?
Gold hit record highs above $4,700 on January 20, driven by geopolitical concerns and strong ETF inflows, with Chinese retail jewellery prices following suit. Strategists see a plausible longer-term bull case for gold but warn of short-term overbought readings and the potential for sharp corrections, especially in silver.
China’s Restaurant Industry Is Souring: Xibei’s Store Closures Expose Wider Structural Pain
Xibei’s closure of 102 stores has become a high‑profile symbol of wider distress in China’s restaurant sector. Structural pressures—rising food and labour costs, falling per‑capita dining spend and tougher social‑insurance rules—are squeezing margins, prompting widespread closures, weak IPOs and a wave of industry consolidation.
Beijing Draws Up Plan to Lift Household Incomes as Consumption Becomes China’s Growth Bedrock
China’s NDRC is preparing a package of measures to boost urban and rural household incomes and shore up consumption, pairing immediate demand support—such as trade‑in subsidies and job stabilisation—with investment, service‑sector expansion, and reforms to spur private participation. The moves respond to data showing consumption is now a leading driver of growth even as officials warn of a supply‑demand imbalance.
GAC Rejects Viral Claim That Gree Will Supply Half Its Auto Chips, Says Talks Ongoing
GAC has denied online claims that half of its automotive chips will be supplied by Gree, while confirming that a January meeting took place to discuss smart ecosystem cooperation. The clarification underscores the strategic interest of appliance makers in automotive power semiconductors and the risks posed by unverified market rumours.