China fines Alibaba record $2.75 billion for anti-monopoly violations

© Reuters. FILE PHOTO: FILE PHOTO: The logo of Alibaba Group is seen at its office in Beijing By David Stanway and Scott Murdoch SHANGHAI/HONG KONG (Reuters) -China slapped a record 18 billion yuan ($ 2.75 billion) fine on Alibaba (NYSE:) Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had […]

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Jack Ma under fire again – China fines Alibaba 18bn yuan (circa US$2.8bn)

Back in November last year Chinese authorities halted Ma’s Ant Group US$ 34.5B IPO. Jack Ma, who controls Alibaba, had criticized domestic (and global) regulators for stifling financial services innovation, criticism the CCP did not appreciate.   Ma is back in hot water again, this time Chinese regulators have hit Alibaba with an 18.23 billion yuan ($ […]

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China EV battery maker Octillion looks to cash in on carbon neutral drive

© Reuters. Employees work on the production line of electric vehicle (EV) battery manufacturer Octillion in Hefei HEFEI, China (Reuters) – China’s push towards carbon neutrality as well as its growing manufacturing might will allow electric vehicles (EV) to compete equally with standard cars by 2030 and drive the sector to new heights, the head […]

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Kerry: U.S. ‘hopeful’ it can work with China to tackle climate change

2/2 © Reuters. French Economy and Finance Minister Le Maire meets US Special Presidential Envoy for Climate Kerry in Paris 2/2 DUBAI (Reuters) – U.S. Special Presidential Envoy for Climate John Kerry said the United States was hopeful it could work with China to tackle climate change, despite longstanding disagreements that have affected the bilateral […]

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Iran and China sign 25-year cooperation agreement

2/2 © Reuters. China’s State Councilor Wang Yi meets with Russia’s Foreign Minister Sergei Lavrov in Guilin 2/2 DUBAI (Reuters) – China and Iran, both subject to U.S. sanctions, signed a 25-year cooperation agreement on Saturday to strengthen their long-standing economic and political alliance. “Relations between the two countries have now reached the level of […]

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China, Iran expected to sign 25-year accord, Iranian state media says

© Reuters. China’s Foreign Minister Wang Yi listens to Iran’s Foreign Minister Mohammad Javad Zarif during a meeting at the Diaoyutai state guest house in Beijing DUBAI (Reuters) – Chinese Foreign Minister Wang Yi arrived in Iran on Friday for a visit that Iranian state media said would see the signing of a 25-year cooperation […]

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Global oil markets under pressure as Asia destocks, China imports slowed

© Reuters. FILE PHOTO: Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub By Florence Tan, Olga Yagova and Devika Krishna Kumar (Reuters) – Crude oil producers from Europe, Africa and the United States faced difficulties selling to Asia, especially China, as buyers took cheaper oil from storage while […]

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Saudi Aramco to prioritise energy supply to China for 50 years, says CEO

2/2 © Reuters. FILE PHOTO: Amin H. Nasser, president and CEO of Saudi Aramco, speaks during a news conference in Dhahran 2/2 By Muyu Xu and Florence Tan BEIJING (Reuters) – Saudi Aramco (SE:) will ensure China’s energy security remains its highest priority for the next 50 years and beyond as new and existing energy […]

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China bans Tesla cars in military complexes on concerns about cameras: Bloomberg News

© Reuters. FILE PHOTO: The logo of car manufacturer Tesla is seen in Bern (Reuters) – The Chinese military has banned Tesla (NASDAQ:) Inc’s cars from military complexes and housing compounds because of concerns about sensitive data being collected by cameras built into the vehicles, Bloomberg News reported on Friday, citing people familiar with the […]

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