China growth hopes rest on troubled local government financing vehicles

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If the Chinese government is able to reach its economic growth target of 5.5 per cent this year, it will be due in part to retail investors such as Jane Song. In May, Song invested Rmb200,000 ($29,600) in a fixed-income wealth management product issued by a local government financing vehicle in eastern Shandong province. A … Read more

Why Apple can’t quit China | CNN Business

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CNN Business  —  For close to two decades, Apple and China have been inextricably linked. The world’s most populous country not only accounts for the bulk of Apple’s device manufacturing but also a significant portion of its sales. This year, however, several cracks have started to appear in an otherwise mutually beneficial relationship. Much of … Read more

Fibre-optic cables may be used to eavesdrop up to 1km away, study says

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21st Century wire tap? Spies could use fibre-optic broadband cables to EAVESDROP on people from over half a mile away, study shows Scientists have developed a system that picks up sound from fibre-optic cables  Fibre-optic cables use light pulses to transmit data and are used for broadband But they are sensitive to changes in environmental pressure caused … Read more

China signals no big stimulus is coming, while Covid controls remain

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A worker in a protective suit cleans the floor at a subway station, after the lockdown placed to curb the coronavirus disease (COVID-19) outbreak was lifted in Shanghai, China June 2, 2022.  Aly Song | Reuters BEIJING — China’s top leaders signaled Thursday that no big stimulus for economic growth was on the way, and … Read more

They Flocked to China for Boom Times. Now They’re Thinking Twice.

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A.H. Beard, a 123-year-old luxury mattress manufacturer based in Australia, started eyeing China around 2010. At the time, the family-owned company faced looming competition from low-cost, foreign-made mattresses in its home market. China, with its 1.4 billion consumers and a growing middle class with a taste for premium brands, seemed like a good place to … Read more

China says closely tracking rocket debris hurtling towards Earth

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Beijing says uncontrolled re-entry of rocket debris poses little risk to anyone on the ground. Remnants of a large Chinese rocket are expected to streak through the atmosphere this weekend in an uncontrolled re-entry that Beijing says it is closely tracking but poses little risk to anyone on Earth. The Long March 5B rocket blasted … Read more

New studies agree that animals sold at Wuhan market are most likely what started Covid-19 pandemic | CNN

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CNN  —  In June, the World Health Organization recommended that scientists continue to research all possible origins of the Covid-19 pandemic, including a lab leak. Two newly published studies take totally different approaches but arrive at the same conclusion: The Huanan Seafood Market in Wuhan, China, was most likely the epicenter for the coronavirus. The … Read more

China targeted Fed employees for almost a decade, GOP Senate report says; chairman pushes back

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A report released Tuesday by Republicans on the Senate Homeland Security and Government Affairs Committee says that China targeted the Federal Reserve for nearly 10 years, working to recruit and influence employees in an effort to obtain information and monetary benefit and to influence U.S. monetary policy. The report zeroes in on what it describes … Read more

Apple’s earnings will give a peek into the mindset of the high-end consumer

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Tim Cook, chief executive officer of Apple Inc., speaks during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US, on Monday, June 6, 2022. David Paul Morris | Bloomberg | Getty Images Apple reports earnings on Thursday for the quarter ended in June. The third quarter of Apple’s fiscal year is … Read more

GM reports strong sales but says it’s prepared for possible recession | CNN Business

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New York CNN Business  —  General Motors said strong sales and demand for vehicles doesn’t suggest any signs of an economic slowdown, but the company is preparing for a possible recession — just in case. GM reported a sharp drop in earnings Tuesday, but that was caused by Covid lockdowns in China, one of its … Read more