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The Latest Breaking News from China

Rio Tinto warns Australia’s slow renewable energy rollout threatens fossil fuel phase out

Mining giant also apologises for bullying culture at annual shareholder meeting

The Guardian - AU

People 'bolted inside their own homes' in brutal lockdown after Covid spike in China

Videos on Chinese social media appear to show public health workers wearing personal protective equipment using wires and iron bolts to lock people in their homes

Daily Mirror

‘No end in sight’: In Beijing, fears of Shanghai-style lockdown

Officials in Chinese capital have designated 518 coronavirus outbreak sites amid growing fears of a city-wide lockdown.

Al Jazeera

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China’s 'innovation machine': how it works, how it’s changing and why it matters

China has had the world’s fastest growing economy since the 1980s. A key driver of this extraordinary growth has been the country’s pragmatic system of innovation, which balances government steering and market-oriented entrepreneurs.

The Conversation

Survivor found almost 6 days after China building collapse

Rescuers in central China have pulled a woman alive from the rubble of a building that partially collapsed almost six days earlier

The Independent UK

Australia is investigating a digital currency, or e-dollar, but its benefits seem slight and the risks to privacy large

We are used to thinking of money as notes and coins, the kind most of us hold in our wallets. But most money – in Australia it’s 96.3% – is digital, held by financial institutions and moved around via bank transfers, debit cards and credit cards.

The Conversation

Shanghai reports 13 new COVID-related deaths for May 4, versus 16 a day earlier

China's eastern financial hub of Shanghai reported 13 new COVID-19 deaths for May 4, down from 16 a day earlier, the local government said in a statement on Thursday.

Reuters

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New Zealand foreign minister blames ‘relationship failure’ for China-Solomons security deal

Nanaia Mahuta confirms ‘unwelcome and unnecessary’ deal came as a surprise to New Zealand and Australia, saying the Solomons must provide transparency

The Guardian - AU

Asia falls in love with Thai Boys Love

Buoyed by the openness of the LGBT community, Thailand's "Boys Love" (BL) movies and series have been well received in the local market and are considered promising export products that can draw lucrative revenue streams and foster business opportunities in other areas, including tourism.

Bangkok Post

Morrison says Australia still Solomon Islands' first option despite 'secret' security deal with China

Scott Morrison says the government will take a "calm and composed" approach to Solomon Islands if re-elected, after its Prime Minister launched a tirade in parliament about Australia's response to its new security pact with China.

ABC News

China’s Central Bank Vows Normalized Supervision of Tech Sector

The People’s Bank of China backs up Politburo signal last week that a year-long crackdown on the industry is drawing to a close

Caixin Global

PBOC Backs Coal Industry With $15 Billion of Credit

Central bank follows through on government commitment to increase coal production as China seeks to secure its energy supplies

Caixin Global

Biden Officials Split on Easing China Tariffs to Slow Inflation

The Biden administration is split on whether to pare back tariffs on imports from China in an effort to cut consumer costs and reduce inflation, as the White House gives renewed consideration to a step that has divided officials.

Bangkok Post

East Asia: Where are America's red lines?

Global geopolitical attention remains focused on the war in Ukraine. But a significant shift, potentially even more serious in the long run than Russia's invasion of its neighbor, seems to be occurring in East Asia as a result of President Vladimir Putin's war.

Bangkok Post

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StockNews.com

3 Dividend Kings to Buy Right Now Without Hesitation

The stock market indexes drifted higher yesterday with investors looking ahead to the Federal Reserve's monetary policy tightening to control surging inflation. However, the Ukraine-Russia war, extended COVID-19 lockdowns in China, and the possibility of an economic slowdown, could keep the stock market under pressure in the near term. Amid…

Benzinga

De Well Files for Hong Kong IPO, Flush With New Ties to Cainiao

Key Takeaways: • Global logistics services provider De Well has filed for a Hong Kong IPO, aiming to boost its footprint on booming demand for cross-border e-commerce

Benzinga

Despite Seeing Accelerated 2023 Growth, This Analyst Cut Penumbra's Price Target - Here's Why

Penumbra Inc (NYSE:PEN) reported Q1 sales that beat Street expectations, driven by Vascular upside, and reiterated its 2022 revenue guidance. Wells Fargo lowered the price target to $265 from 321, which is equivalent to a 52.2% upside. At 9.5x (down from 12x as peer group valuation has been compressed) with a 2023 sales estimate of…

Benzinga

Tupperware Shares Plunge On Q1 Miss, Underperformance Across All Segments

Tupperware Brands Corp (NYSE:TUP) reported a first-quarter FY22 sales decline of 16% year-on-year to $348.1 million, missing the consensus of $356.8 million. Net sales were down in all segments, with the decrease primarily driven by lower recruiting and overall sales force activity, due to the Russia/Ukraine conflict and lockdowns caused by the Omicron…

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Benzinga

Huafang Hopes 'Internet Bad Boy' Backing Will Bring Investors Streaming to Its IPO

Key Takeaways: Huafang Group posted 4.6 billion yuan in revenue last year, up 63% higher from pre-pandemic levels in 2019, but still much lower than its major competitors

Benzinga

4 Starbucks Analysts On Q2 Earnings: Brewing China Concerns, Strong US Demand And More

Starbucks shares were rallying Wednesday after the coffee chain reported a second-quarter sales beat. The quarter was helped by strong growth and momentum in the North American segment. The big headwind facing the company is the impact of the China region, which analysts highlighted after the print.

The Guardian - UK

Beijing orders ‘stress test’ as fears of Russia-style sanctions mount

Exclusive: exercises are to prepare China for the possibility of similar embargos from the US and its allies

The Conversation

Why India chose a path of 'proactive neutrality' on Ukraine

Since Russia invaded Ukraine in February, India’s refusal to condemn Russia and maintain a neutral stance has sparked many debates at home and criticism abroad. US President Joe Biden called India’s stance “somewhat shaky”. However, shortly after, the US also called India an essential partner in realising its mission for…

The Independent UK

Blinken says China biggest threat to press freedom for number of journalists detained

Blinken says Biden administration is ‘concerned’ about press freedom in China

Benzinga

Morning Brief: Top Financial Stories Dominating on Wednesday, May 4

Reuters HSBC Kick Starts Its $1B Planned Share Buyback

Benzinga

Chinese Analyst Who Highlighted Delisting Risks For US-Listed Companies Like Alibaba Suddenly Leaves State-Owned Brokerage

One of China's most prominent and outspoken market analysts has quietly left the state-owned brokerage he was employed at, days after his Chinese social media accounts were suspended, according to a Reuters report.

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