Alibaba cloud division to be profitable within FY2021: CFO

HONG KONG (Reuters) – Chinese tech giant Alibaba ‘s (N:) cloud unit expects to be profitable within 2021, a senior executive said on Wednesday. Maggie Wu, chief financial officer of Alibaba, made the remarks at an livestreamed investor day event. The company, a dominant player in China’s cloud market, is fending off challenge from domestic […]

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Chinese teacher who poisoned 25 kindergarteners out of ‘revenge’ sentenced to death

A Chinese teacher has been sentenced to death after a court found that she poisoned more than two dozen kindergarteners, killing one, to wage revenge on a coworker after disagreements “over student management issues.” Wang Yun was accused in March 2019 of poisoning 25 young children in Jiaozuo city by tainting their breakfast with sodium nitrite, which […]

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U.S. must stand up to China if Biden wins, focus less on trade, Krugman says

2/2 © Reuters. FILE PHOTO: U.S. President Trump talks with Chinese President Xi as he welcomes Xi to the United States 2/2 By Isabel Versiani BRASILIA (Reuters) – Democratic candidate Joe Biden should maintain a tough stance against China if he wins the U.S. presidential election, but focus more on industrial policy than trade tariffs, […]

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ByteDance seeks China’s approval for TikTok deal with Oracle

ByteDance has formally asked Chinese officials to sign off on its deal with Oracle and Walmart to keep TikTok running in the US. The Chinese tech giant on Thursday said it applied for a technology export license from Beijing’s municipal commerce bureau that it will need to close the deal aimed at preventing the Trump […]

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Facebook Takes Down Fake Pages Created in China Aimed at Influencing U.S. Election

WASHINGTON — Facebook has detected limited Chinese operations intended to both help and hurt President Trump’s re-election chances, the company announced on Tuesday, the first public disclosure of Chinese efforts to influence the presidential election in November. The Chinese activity, while modest and not directly attributed to the government in Beijing, could undercut Mr. Trump’s […]

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World’s top emitter China aims to go carbon neutral by 2060

Chinese President Xi Jinping says his country will aim to stop pumping additional carbon dioxide, the main global warming gas, into the atmosphere by 2060. Xi’s announcement during a speech Tuesday to the U.N. General Assembly is a significant step for the world’s biggest emitter of greenhouse gases and was immediately cheered by climate campaigners. […]

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Chinese tycoon who called Xi Jinping a ‘clown’ and ripped his coronavirus response gets 18-year sentence

A Chinese real estate mogul who once called President Xi Jinping a “clown” and criticized his government’s handling of the coronavirus pandemic was sentenced to 18 years in prison on corruption charges, a Beijing court announced Tuesday. Ren Zhiqiang, the former chairman of the state-owned Huayuan Group, was issued the punishment after being expelled from the Communist Party in June. He disappeared from public view in March after publishing an […]

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China unlikely to approve Oracle and Walmart’s TikTok deal, state media says

TikTok’s proposed US partnership with Oracle and Walmart is unlikely to win approval in Beijing, Chinese state media says. China’s state-run Global Times newspaper published an editorial late Monday saying the deal to keep the video-sharing app alive in America would “hurt China’s national security, interests and dignity.” “From the information provided by the US, […]

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Trump won’t approve TikTok deal if ByteDance keeps control

President Trump said he will not approve a deal to keep TikTok running in the US if its Chinese parent company remains in control of the popular video-sharing app. Trump on Monday said he wanted Walmart and Oracle to have “total control” of TikTok in the US after Bejing-based ByteDance claimed it would still own […]

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ByteDance says it will keep control of TikTok under deal with Oracle

Chinese tech giant ByteDance said Monday that it would retain control of TikTok under its deal to keep the popular video-sharing app alive in the US. The Beijing-based firm made the claim in a statement addressing “rumors” that TikTok would become an American-owned company — as ByteDance’s US partners, Oracle and Walmart, said when they […]

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China issues new regulations on foreign companies amid TikTok row

China issued a swift retaliation in response to a looming ban on US downloads of the Chinese owned apps TikTok and WeChat. On Saturday the country’s Ministry of Commerce announced regulations for its “unreliable entity” list, which target foreign companies they say compromise their national security.  Any company that gets added to the list can […]

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China’s economy remains resilient despite external risks, says Xi

© Reuters. Chinese President Xi Jinping arrives for a meeting in Beijing BEIJING (Reuters) – China’s economy remains resilient and there are ample policy tools at Beijing’s disposal despite rising external risks, President Xi Jinping said in remarks published on Saturday. The world’s second-largest economy has steadily recovered from a virus-induced slump, but analysts say […]

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TikTok files complaint in attempt to block US ban

Time is ticking away for the Chinese video-sharing app TikTok, which filed an 11th-hour complaint to a Washington federal court in an attempt to stay a looming US ban from the Trump administration. TikTok and parent company ByteDance say they are being targeted for political reasons and efforts to keep them off US phones is […]

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What Is Happening With TikTok and WeChat as Trump Tries to Ban Them?

The Trump administration is pushing forward with its plan to ban the Chinese social media apps TikTok and WeChat from American app stores. The Commerce Department on Friday announced that beginning on Sunday, it would prohibit downloads of WeChat and TikTok in U.S. app stores, and ban transactions made through WeChat. The Commerce Department said […]

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China says Australia turning away Chinese firms will dent confidence

© Reuters. Chinese Foreign Ministry spokesman Wang Wenbin speaks during a news conference in Beijing BEIJING (Reuters) – China’s foreign ministry said on Friday that Chinese companies’ confidence would be dented by the fact that Australia has recently turned several away in the name of national security. Foreign ministry spokesman Wang Wenbin made the comments […]

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TikTok Accepts Deal Revisions as Trump Prepares to Review Proposal

WASHINGTON — The Chinese company that owns TikTok has accepted the Trump administration’s changes to a deal designed to mitigate the White House’s concerns that the popular app poses a national security threat, two people with knowledge of the talks said. The Treasury Department, which leads a group reviewing the deal for national security purposes, […]

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US tariffs on China are illegal, says world trade body

The World Trade Organization has ruled that the Trump administration’s tariffs on Chinese goods worth more than $200 billion are illegal By JAMEY KEATEN Associated Press September 16, 2020, 2:30 AM • 3 min read Share to FacebookShare to TwitterEmail this article GENEVA — A World Trade Organization panel ruled Tuesday that Trump administration tariffs […]

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China says U.S. bans on Xinjiang imports sabotage global supply chains

© Reuters. FILE PHOTO: Chinese and U.S. flags flutter in Shanghai BEIJING (Reuters) – China’s foreign ministry said on Tuesday that U.S. import bans on some products from China’s Xinjiang region were sabotaging global supply chains. The Trump administration moved on Monday to block U.S. imports of cotton, apparel and other products from five entities […]

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ByteDance’s Chinese version of TikTok hits 600 million daily users

By Yingzhi Yang and Brenda Goh BEIJING (Reuters) – Douyin, the Chinese version of short video app TikTok, hit 600 million daily active users in August, an executive with parent company ByteDance said on Tuesday, a 50% jump since the start of the year. Users in China are not able to access the TikTok app, […]

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China extends tariff exemptions for 16 U.S. products

© Reuters. FILE PHOTO: Chinese and U.S. flags flutter near The Bund in Shanghai BEIJING (Reuters) – China’s finance ministry said on Tuesday it will extend existing tariff exemptions for 16 products from the United States including lubricants, whey and fish meal by an additional year. The products received exemptions from retaliatory tariffs imposed by […]

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TikTok’s Proposed Deal Seeks to Mollify U.S. and China

WASHINGTON — After more than six weeks, two White House executive orders, new Chinese regulations and multiple bidders, a deal for the social media app TikTok has boiled down to one main strategy: mitigation. TikTok, which is owned by the Chinese internet company ByteDance, said on Monday that it had offered a proposal to the […]

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TikTok’s deal with Oracle may not include app’s key algorithm

TikTok’s Chinese parent company reportedly doesn’t want to sell its signature algorithm — meaning Oracle’s deal to take over parts of the app may not include its secret sauce. The American software giant has struck a deal to become TikTok’s so-called technology partner ahead of the Trump administration’s looming deadline for Beijing-based ByteDance to sell […]

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Microsoft Says Its Bid for TikTok Was Rejected in U.S.-China Standoff

WASHINGTON — The owner of the Chinese app TikTok rejected an offer on Sunday from Microsoft to take over the firm’s U.S. operations, according to Microsoft officials and other people involved in the negotiations, as time runs out on an executive order from President Trump threatening to ban the popular app unless its American operations […]

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China would reportedly rather see TikTok banned than sold to US company

The Chinese government would reportedly rather see TikTok banned in the United States than allow a forced sale of the app to a US company. The popular video platform’s Beijing-based parent company ByteDance has for the past month been in discussions to sell its US business after President Trump issued an executive order banning TikTok […]

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Trump won’t give ByteDance more time for TikTok sale

President Trump said he won’t give Chinese tech giant ByteDance any more time to sell TikTok’s US operations before the feds ban the popular app. “We’ll either close up TikTok in this country for security reasons or it’ll be sold,” Trump told reporters Thursday before a trip to Michigan. “I’m not extending deadlines.” The president’s […]

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