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McKinsey website touted its advice to Chinese government ministries

...A McKinsey China website that was shut down in 2019 said about 10 per cent of its clients in the country were government agencies or non-profit groups....

February 27, 2024

Chinese business & finance

China’s answer to Instagram makes first profit

...“I am positive on the company, but the lack of a clear exit through an IPO is a big problem,” the investor said....

March 25, 2024

FT Live

TNW Conference 2024 - The Next Web

Europe’s leading tech event for corporates, startups, investors and governments

PwC

PwC to reverse controversial US tax split

...Ryan described the reorganisation as a “once-in-a-generation change” that grouped PwC’s US audit business together with tax reporting and compliance under the umbrella of “trust solutions”....

April 18, 2024

Shein

Shein profits double to over $2bn ahead of planned listing

...The group filed confidential paperwork for a US listing in November, but a person close to Shein said the company had heard little from the SEC since then....

March 31, 2024

PDD Holdings

Ex-workers at Temu owner PDD suffer surveillance and financial ruin over non-competes

...One recent graduate said her life had been turned completely upside down by the large debt owed to Pinduoduo for violating a non-compete....

March 11, 2024

Transcript

Transcript: Taking the Byte out of TikTok

...Lawmakers say the app is a national security issue because its parent company, ByteDance, is based in China. Here to talk to me about it is the FT’s Ryan McMorrow. Hey, Ryan. Ryan McMorrowHi there....

April 23, 2024

FT Live

Innovation in Wealth Management Summit

Augmented intelligence for client-centric services

TikTok Inc

TikTok gears up for legal fight in US to prevent ban

...The people said ByteDance’s general counsel Erich Andersen, who also leads TikTok’s legal team and who would be responsible for steering the company’s legal strategy, would probably step down before any...

April 22, 2024

News in-depthTikTok Inc

TikTok fortune of billionaire Republican donor Jeff Yass threatened by Washington

...“Now the most likely outcome is they will shut down the US, and all the American investors in ByteDance will bear the losses,” Li said....

April 24, 2024

Apple Inc

Apple removes WhatsApp from China store under pressure from Beijing

...The move comes as the US Congress prepares for a Saturday vote on a bill to ban ByteDance-owned short video app TikTok if it is not divested to a non-Chinese owner....

April 19, 2024

Letter

Letter: ‘Progressive mum lit’ is a better description

...We need these raw accounts to collectively think about how best to empower mothers and caregivers at a wider societal level and it begins by how we define that literary genre....

February 8, 2024

News updates from February 23: Nvidia market value briefly tops $2tn, Navalny’s mother refuses Russian ultimatum

Second-hand home prices in China’s first-tier cities down 4.9%

...Chinese home prices continued to slide in January, with the sale prices of second-hand housing in the country’s major cities down 4.9 per cent from a year earlier....

February 23, 2024

Apple Inc

Tim Cook praises China’s ‘critical’ role in Apple’s business

...The figure represented a 13 per cent year-on-year decline, and research group Counterpoint said iPhone sales in the first six weeks of this year were also down 24 per cent from a year earlier....

March 21, 2024

News updates from March 26: Baltimore road bridge collapses; Trump’s social media business soars in market debut

Alibaba suspends IPO for logistics arm Cainiao

...Alibaba had once hoped to take Cainiao public at a $20bn valuation but struggled to find much interest amid a deep market downturn in Hong Kong....

March 26, 2024

Transcript

Transcript: Baidu’s ‘do-or-die’ bet on AI

...He’s wearing a black button down with the Baidu logo stamped on his shirt....

February 7, 2024

China economic slowdown

China’s treatment of local debt ‘ulcer’ threatens growth target

...Among the projects being scrapped are a highway in Yunnan province and a tunnel in Gansu....

March 13, 2024

FT Live

Building an AI-First Organisation

How can business leaders use AI to drive value?

News updates from February 2: US adds 353,000 jobs in January, US hits Iraq and Syria after drone deaths

Founder of top Chinese investment bank steps down year after being detained

...China’s top dealmaker has stepped down from his official roles at the investment bank he founded more than a decade ago, his company announced on Friday, nearly a year after he was detained by Chinese authorities...

February 2, 2024

Letter

Letter: Some non-compete questions for FTC chair

...So it’s more than a little ironic that while the FTC is cracking down on non-competes and traditional tech acquisitions, it may have put itself in a bind when it comes to the latest trend of “acqui-hiring...

April 3, 2024

News updates from February 7: Netanyahu rejects Hamas ceasefire demand, Disney unveils $3bn buyback

Alibaba’s sales growth falls short of expectations

...Net income for the quarter fell 77 per cent to Rmb11bn, with the group saying the decline was mostly down to mark-to-market changes in the value of its investment portfolio....

February 7, 2024

Chinese economy

Year of the Dragon opens on high note for China’s economy

...Analysts at Jefferies estimated that while overall tourist spending rose during the holiday this year, spending per tourist was down 9.5 per cent from 2019 levels....

February 18, 2024

Ryan Neelam

America, take heed — China is winning the diplomacy race

...Ultimately, diplomacy is a long game: it is an investment in relationships with a view to exerting influence when it counts....

March 6, 2024

#techAsia

China’s telcos dial it back and south-east Asia’s green shift slows Premium

...The Shanghai-based company, valued at $20bn in the latest fundraising round three years ago, raked in $500mn in net profit last year on revenues of $3.7bn, write the Financial Times’ Eleanor Olcott and Ryan...

March 28, 2024

News updates from February 27: McKinsey touted its advice to Chinese government, EU parliament bars Amazon lobbyists

McKinsey website touted its advice to Chinese government ministries

...A McKinsey China website that was shut down in 2019 said that about 10 per cent of its clients in the country were government agencies or non-profit groups....

February 27, 2024

Alibaba

Alibaba puts IPO for its logistics arm Cainiao on hold

...Net income dropped 77 per cent as Alibaba wrote down the value of some businesses and the market value of its investment portfolio sank....

February 7, 2024

#techAsia

TikTok’s fate and Taiwan tech suppliers’ shift Premium

...Financial Times’ Ryan McMorrow, Eleanor Olcott, Mercedes Ruehl and Ivan Levingston....

April 4, 2024

News in-depthApple Inc

China’s love affair with Apple and Tesla hits rocky patch

...“I’ve been waiting for a long time for a phone with a real domestically produced chip so I put down my iPhone and am supporting Huawei!” he gushed....

March 10, 2024

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