Business

Chinese Tech Giant LeEco in Talks to Receive $1.4B Funding

S. Rina   | Dec 29, 2016 10:37 PM EST

Leading Chinese technology company LeEco may get a breather from its ongoing liquidity issues as it is reportedly in talks for a potential capital infusion to the tune of $1.4 billion from an undisclosed potential investor. read more

Mapping Company HERE Receives Chinese Investment

S. Rina   | Dec 28, 2016 09:20 PM EST

Digital mapping company Here is looking to expand in China, after a consortium of two Chinese companies and Singapore's sovereign fund GIC bought a 10 percent stake from the leading German carmakers controlling the mapping firm. read more

China Claims to Fuel ‘Weak’ Global Economy with its Growth

S. Rina   | Dec 27, 2016 08:51 PM EST

China is on track to meet its 6.5 percent to 7 percent growth rate target this year. This is being taken as a signal that the economy is in strong position. The strength of the Chinese economy is also likely to aid global economy, which is going through a rough phase. read more

China to Slash Subsidies for Solar and Wind Power Projects

S. Rina   | Dec 28, 2016 02:11 AM EST

China is planning to slash its solar and wind power subsidies to account for fall in project costs. The government pays these generators for electricity produced by them. However, due to fall in the overall costs related to these projects, the government has decided to take the new step. read more

Tesla, Panasonic Team Up to Produce Solar Panel Cells

Theena Ocay   | Dec 28, 2016 02:07 AM EST

Tesla Motors and Panasonic announced Tuesday their partnership to manufacture the first photovoltaic (PV) cells and other solar modules next year at Tesla's factory in Buffalo, New York. read more

China Opens Market to Lure More Foreign Investors Amid Challenges

Desiree Sison   | Dec 27, 2016 03:31 AM EST

Despite China's efforts in opening up its market to entice more foreign investors, economic analysts said on Monday the step may be a little too late given the impending assumption into office of US president-elect Donald Trump who has been throwing his trade tirades against China. read more

Cyanogen to Pull the Plug by Year’s End

Phenny Lynn Palec   | Dec 26, 2016 09:58 AM EST

The team behind the CyanogenMod mobile operating system recently announced that they will be shutting down their operations by the end of the year. The startup added that it will shut down all services as well as nightly build on Dec. 31. read more

China Fines GM $29M for Monopolistic Pricing

mwaniki wanjiku   | Dec 25, 2016 10:11 PM EST

China has fined $29 million to General Motor's main joint venture for reportedly suppressing competition by enforcing minimum sales for dealers. read more

Snapchat Parent Company Snap to Expand Presence in China

S. Rina   | Dec 23, 2016 10:17 AM EST

Snap Inc. is looking to boost its presence in China as the company announced that it is opening a new office in the country. The move comes despite the fact that Snap's flagship service Snapchat is banned in China. It is expected that the company's Chinese operations will mainly focus on Spectacles. read more

China Opposes EU Continuing Measures Against Chinese Solar Panel

S. Rina   | Dec 23, 2016 11:53 AM EST

China has expressed its disappointment over the extension of trade remedy measures on Chinese photovoltaic products. These measures entails continuing anti-subsidy and anti-dumping charges on solar products imported from China. read more

New Zealand to Probe Alleged Chinese Steel Dumping Tactics

S. Rina   | Dec 23, 2016 10:28 AM EST

New Zealand Steel petitioned The Ministry of Business, Innovation and Employment (MBIE) for probing galvanized steel coils imported from China. The ministry has now confirmed that it will investigate the issue of cheap Chinese imports. read more

Deutsche Bank to Settle $7.2B Fine with US Regulators

Theena Ocay   | Dec 24, 2016 02:12 AM EST

Germany's Deutsche Bank on Friday has agreed to pay $7.2 billion over an investigation of sale and pooling of toxic mortgage securities that played a significant role in the 2008 financial crisis. read more

Alibaba’s Taobao.com Back in US Counterfeit List, a Blow to US Expansion Plan

Girish Shetti   | Dec 22, 2016 10:36 AM EST

Alibaba's popular e-commerce platform Taobao.com is back in the infamous list of U.S counterfeit goods, four years after it was removed from the backlist. This is likely to pose a serious challenge to Chinese e-commerce giant's ambitious plan to expand in the U.S market. read more

China Offers $7.2B Investment Quota to Ireland

S. Rina   | Dec 21, 2016 06:03 PM EST

China has granted a 50 billion yuan ($7.2 billion) investment quota to Ireland, which has been extended under China's Renminbi Qualified Foreign Institutional Investor (RQFII) scheme. The announcement was made by the People's Bank of China on Wednesday. read more

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