Semiconductor whizz Gerald Yin left the United States and spent 18 years in China building what he said would be a worldwide powerhouse in chipmaking equipment. Now the American citizen’s life’s work has been thrown into limbo as US restrictions undermine the global industrial integration he celebrated. Mr. Yin’s company, Advanced Micro-Fabrication Equipment Inc., or … Read more
Hong Kong’s stock market has underperformed this year – but its exchange operator has made it even worse. The shares in Hong Kong Exchanges & Clearing Ltd. is down 43% since the start of the year, even after a rally so far in November. That’s a bigger drop than Hong Kong’s benchmark Hang Seng index, … Read more
SINGAPORE – Prices charged by Chinese companies at the factory gate registered their first annual decline in nearly two years, another depressing signal for the global economy, as bulging inventories and cautious consumers in the West hit overseas demand for Chinese-made goods. Chinese producer prices fell 1.3% in October from a year earlier, the National … Read more
China’s electric vehicle market is booming. But it might not be obvious from a casual glance at how the country’s EV stocks are doing. Sales of new energy vehicles, including plug-in hybrids, in China more than doubled from a year earlier in the first nine months of 2022. More than one in four cars sold … Read more
SYDNEY—Australia will review its rules aimed at discouraging former military personnel from aiding foreign adversaries as U.S. allies grow concerned that China has recruited Western pilots and benefited from their technical expertise. Australian Defense Minister Richard Marles said an investigation into whether former Australian personnel had provided training to China had raised concerns that warranted … Read more
Racial preferences will be at the Supreme Court again on Wednesday, but the question i Haaland v. Bracken is adoption, not college admission. Under federal law, when a Native American child is placed in an adoptive home, priority is given to parents who are also Native American. It puts the interests of the tribe above … Read more
BRUSSELS— Microsoft Corp. faces an antitrust complaint from a European industry group over its cloud services, adding to the latest allegations of anti-competitive behavior against the US tech company. Cloud Infrastructure Service Providers in Europe, or Cispe, a trade group that includes Amazon.com Inc. among its members, said it filed the complaint with the bloc’s … Read more
Hurricane season is almost over, although another storm is potentially headed for Florida. For insurance companies, the worries do not end on November 30. The insurance companies are in the middle of negotiations with reinsurers who are trying to raise interest rates by 10% to 30%. Almost two-thirds of US property catastrophe coverage is renewed … Read more
The Walt Disney Co. said it plans to cut marketing and content budgets after the company reported weaker-than-expected fourth-quarter earnings on Tuesday, the result of larger losses in its streaming business that offset strong performance in its theme parks. “We are actively evaluating our cost base at the moment,” Christine McCarthy, Disney’s chief financial officer, … Read more
Uganda is struggling to contain an Ebola outbreak that has already infected at least 156 people and killed 74, including in the capital Kampala. The outbreak, first detected on September 20 in a small farming town in central Uganda, is caused by a relatively rare strain of the virus for which there are no proven … Read more