(Reuters) – TikTok Chief Executive Shou Zi Chew has mostly kept a low profile since taking the job in 2021 but on Thursday he is testifying before U.S. lawmakers, many of them suspicious of the popular Chinese-owned social media app. Chew previously worked as an investment banker at Goldman Sachs and investment firm DST, which…
By David Shepardson WASHINGTON (Reuters) -TikTok’s chief executive faced tough questions on Thursday from lawmakers who are convinced the Chinese-owned short video app should be barred for being a potential national security threat to the United States. CEO Shou Zi Chew’s testimony before Congress capped a week of actions by the Chinese company aimed at…
WASHINGTON (Reuters) – The Biden administration on Thursday added 14 Chinese entities to a red flag list, forcing U.S. exports to conduct greater due diligence before shipping goods to them because U.S. officials have been unable to inspect the listed entities. Being added to the list can potentially start a 60-day clock that could trigger…
(Reuters) – Shares of Coinbase Global Inc fell 13% in premarket trading on Thursday after the U.S. Securities and Exchange Commission issued a notice declaring its intent to recommend an enforcement action against the crypto exchange’s products. Global regulators are keeping a close watch on the crypto world after a string of high-profile collapses wiped…
By Makiko Yamazaki TOKYO (Reuters) – Toshiba Corp’s board has accepted a buyout offer from a group led by private equity firm Japan Industrial Partners, valuing the company at 2 trillion yen ($15.2 billion), the company said on Thursday. A successful deal would see the scandal-ridden industrial conglomerate taken private and firmly in domestic hands…
By Howard Schneider, Yoruk Bahceli and Akriti Sharma (Reuters) -The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs after the recent collapse of two U.S. banks. Fed Chair Jerome Powell sought to reassure investors about…
By Joe Cash BEIJING (Reuters) – China has never deliberately pursued a trade surplus with the United States, Shu Jueting, a commerce ministry spokesperson, said on Thursday, despite signs that China is continuing to reduce its reliance on American exports. Although American export data published on Feb. 7 shows that exports to China increased by…
LONDON (Reuters) – Nearly half of emerging market investors are bullish on prospects for developing markets in the second quarter, a survey by HSBC showed on Thursday, thanks to rising optimism following the reopening of the Chinese economy. Some two thirds of the respondents expected emerging equities to outperform those of the developed economies in…
(Reuters) -Japan Airlines has placed its first-ever order for the Boeing 737 MAX, announcing a plan on Thursday to buy 21 jets to replenish its narrowbody fleet. The deal is worth at least $2.5 billion at list prices, Reuters previously reported, and notches a win for Boeing against European rival Airbus, which was in talks…
By Xie Yu, Clare Jim and Samuel Shen HONG KONG (Reuters) -China Evergrande Group’s offshore debt restructuring proposal, a test of investor sentiment towards the cash-squeezed property sector, failed to impress because of its long repayment period and lack of enough sweeteners, creditors and analysts said. Evergrande is the world’s most indebted developer with around…
