The full implications of Beijing’s rapid-fire moves against Jack Ma’s internet empire in recent days won’t be apparent for weeks, but one lesson is already clear: The glory days for China’s technology giants are over.
China kicks off its biggest political meeting of the year Friday, laying out plans that could propel the economy into the world’s biggest this decade.
Tencent Holdings Ltd.-backed Yuanfudao is seeking fresh funding at a valuation of more than $20 billion, people familiar with the matter said, as the cash-burning battle in China’s online education arena shows no sign of abating.
Treasury Secretary Janet Yellen met with small business owners on Thursday. Senate Republicans criticized moves by Democrats to fast-track President Joe Biden’s $1.9 trillion Covid-19 relief plan without their backing.
House Speaker Nancy Pelosi is seeking to impose fines of as much as $10,000 for representatives who violate new security screening rules. Oklahoma lawmakers and their staffs are being told to stay away from the state capitol building in Oklahoma City over potential protests. Washington is temporarily shutting some subway stations near the Capitol to deter travel while security is on high alert.
This has been a year like no other. Hammered by an unprecedented health crisis, global stocks tumbled into a bear market at record speed, and then rallied to new highs thanks to a flood of central bank money.
Measured by the bushel, the U.S.-China relationship has never been stronger.
Late in the afternoon on a recent weekday, workers at an aquaculture farm near Shanghai used long pincers to move 300-gram crabs from muddy ponds into small pools of freshwater.
The world’s second-largest money manager said it will instead focus on individual investors in faster-growing parts of Asia, including mainland China.