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The Latest Breaking News from China

Jeep is missing from a critical segment in the U.S., the mid-size crossover. Maybe a future electric model can fill that void.

InsideEVs

China's SMEE files patent for an EUV chipmaking tool — tool aims to break the shackles of ASML export restrictions

Shanghai Microelectronics Equipment patents key components of an EUV lithography tool.

Tom’s Hardware

Chile's Biggest Steelworks Sunk By Cheap Chinese Imports

It's the end of an era: after 74 years the blast furnace at Chile's biggest steelmaker will be turned off on Monday, snuffed out by competition from China with the loss of thousands of jobs.

International Business Times

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US Finalizes Sharp Tariff Hikes On Chinese EVs, Other Goods

The United States locked in tariff hikes on billions of dollars worth of Chinese goods Friday, with a 100 percent duty on electric vehicles and 25 percent on EV batteries taking effect in two weeks.

International Business Times

After 2 years of peddling Putin’s propaganda, the IMF is returning to Russia in open defiance of the West

It is hardly surprising that Putin’s cronies are taking victory laps and celebrating the IMF’s legitimization of the Kremlin.

Fortune

Germany sails two warships through Taiwan Strait for the first time in two decades

Germany has sailed two warships through the Taiwan Strait in its first transit of the disputed waters in more than two decades, as Berlin seeks to increase its defense engagement in the Asia-Pacific region

The Independent UK

China gives PwC record £47m fine and six-month ban over Evergrande

Accountancy firm accused of issuing false audits says it has sacked six partners and five other staff have left

The Guardian - UK

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Stock Index Futures Inch Higher as Investors Mull Size of Fed Rate Cut, U.S. Economic Data on Tap

September S&P 500 E-Mini futures (ESU24) are up +0.23%, and September Nasdaq 100 E-Mini futures (NQU24) are up +0.08% this morning, while Treasury yields slumped after fresh U.S. economic data left investors uncertain about the size of an anticipated interest rate cut from the Federal Reserve next week.

Barchart

US hints at allowing Ukraine to strike deep inside Russia, enraging Putin

If Washington expands weapons authorisation, NATO will be directly involved in the war, says the Russian leader.

Al Jazeera

Italy Busts Ring Trafficking Retro Video Games From China

Italy's financial police said Friday they have dismantled a ring trafficking counterfeit vintage video game consoles from China containing some of the most popular titles of the 1980s and 90s.

International Business Times

Cheap Valuations Prompt Investors Like Warren Buffett to Buy Beauty Stocks Despite Concerns Over Industry Prospects

Warren Buffett bought over half a million shares of Ulta Beauty at a cheap valuation, potentially hinting that the ongoing cosmetics market slump is a short-term hurdle rather than a long-term trend.

International Business Times UK

China Bans PwC For Six Months Over Evergrande Audit

Accountancy giant PwC was banned in China Friday for six months and slapped with a fine of $62.2 million over problems with its audit of beleaguered property company Evergrande.

International Business Times

Stock Index Futures Inch Higher as Investors Mull Size of Fed Cut

Barchart

China hands PwC a 6-month ban and fine over audit of the collapsed developer Evergrande

Chinese authorities have banned the accounting firm PwC for six months and fined it over $56 million for its involvement in the audit of collapsed local property developer Evergrande

The Independent UK

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Radio France Internationale

US backs two permanent seats for Africa on UN Security Council

The US has thrown its weight behind creating two permanent seats for African states on the United Nations Security Council, and one rotating seat for small island developing states. Years of talks about reforming the council have led nowhere, and many doubt whether US backing will be enough to spur…

Top News

Pakistan Meets IMF Conditions For Billion Loan Approval

Pakistan successfully meets IMF conditions for billion loan with China's support, implementing tax and energy subsidy reforms amidst concerns.

The Times of India

Report clears WADA of favouritism in Chinese swimmers doping case, calls for stronger rules

A report released on Thursday confirmed that the World Anti-Doping Agency (WADA) did not show favoritism toward China in the case of 23 Chinese swimmers who tested positive for a banned substance but were still allowed to compete. The report, authored by Swiss prosecutor Eric Cottier, also recommended improvements in…

Caixin Global

Weekly Must-Read: Chinese Banks’ Cash Flow Plummets After Crackdown on High Deposit Rate

Regulatory demand that banks stop ignoring interest caps has caused flight of corporate savers

International Business Times

China Defence Minister Calls For 'Negotiation' To End Ukraine, Gaza Wars

Chinese Defence Minister Dong Jun said Friday that "negotiation" was the only solution to conflicts such as the wars in Gaza and Ukraine, as he addressed a global gathering of military officials in Beijing.

InsideEVs

Why Rivian Bought China's 'Apple Car'

The Xiaomi SU7, sometimes called China's "Apple Car," is making waves. And now it's a benchmark vehicle for Rivian too.

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