US unveils tougher electric car tax credit rules, effective April 18

WASHINGTON, March 31 (Reuters) – The US Treasury Department on Friday unveiled stricter electric vehicle tax rules that will reduce or eliminate tax credits on some zero-emission models but give buyers another two weeks before the new requirements take effect. The rules are designed to wean the United States from reliance on China for EV … Read more

China’s privatizes $1 billion industrial property units in Hong Kong

March 30 (Reuters) – E-commerce firm Inc (9618.HK) plans to spin off its real estate and industrial units and list them on the Hong Kong stock exchange in deals worth $1 billion each , two people with direct knowledge said Friday. The plan marks the latest revamp in China’s technology sector after a sweeping … Read more

Japan is going to restrict exports of chip making equipment as it complies with US and China restrictions

TOKYO, March 31 (Reuters) – Japan’s government said on Friday it plans to restrict exports of 23 types of semiconductor manufacturing equipment, aligning controls on technology trade with US pressure to boost China’s ability to make advanced chips. curb making. The trade and industry minister said in a press release that it will impose export … Read more

FTX’s Bankman-Fried pleads not guilty to campaign finance, bribery charges in China

NEW YORK, March 30 (Reuters) – Indicted founder of the FTX cryptocurrency exchange, Sam Bankman-Fried, pleaded not guilty on Thursday to fresh US charges of conspiracy to violate campaign finance laws and bribe Chinese authorities. Bankman-Fried, 31, through his attorney, Mark Cohen, entered the plea for the new 13-count indictment at a hearing before U.S. … Read more

China has committed to economic opening and reforms, Premier Li says

BOAO, China, March 30 (Reuters) – China is determined to open up the world’s second-largest economy and implement reforms that can boost growth, Premier Li Qiang said on Thursday, adding that geopolitical tensions are hampering global development. would only hinder. Li’s remarks at an international business summit in the island province of Hainan are his … Read more

Castro from Honduras visits China after cutting ties with Taiwan

TEGUCIGALPA, March 29 (Reuters) – Honduran President Xiomara Castro will travel to China “soon”, the Honduran foreign ministry said on Twitter on Wednesday, without specifying a date for the trip. The announcement came days after China established diplomatic ties with Honduras as the Central American country ended its decades-long relationship with Taiwan. Honduras’s foreign minister … Read more

Equities creep towards quarterly earnings as bank fears fade

SINGAPORE, March 30 (Reuters) – Equity markets in Asia posted recent gains on Thursday, as fears of a banking crisis eased and investors weighed whether a breakup of Chinese conglomerate Alibaba could signal that Beijing’s regulatory storm targeting tech companies , could finally disappear. The MSCI index of Asia-Pacific stocks outside Japan (.MIAPJ0000PUS) rose 0.2%. … Read more

Alibaba decides on control of new business units after IPO

SHANGHAI/HONG KONG, March 30 (Reuters) – Alibaba Group (9988.HK) said on Thursday it will try to monetize non-core assets and consider relinquishing control of some companies as the Chinese tech conglomerate reinvents itself after a regulatory crackdown that wiped out 70% of its stock. Daniel Zhang, CEO of the group, said breaking up the company … Read more

U.S. battery sourcing guidelines to cut some EV tax credits — official

WASHINGTON, March 29 (Reuters) – The long-awaited guidance from the US Treasury Department regarding battery procurement requirements for electric vehicle tax credits expected by Friday will result in fewer vehicles receiving full or partial credits, a US official told Reuters. In December, the Treasury Department decided not to release its proposed battery procurement guidelines until … Read more

Shares gain because bank support encourages investors

MSCI All-World index up 0.3%, dollar falls UBS rehires Ermotti as head of the merged unit Alibaba up 13%, other Chinese tech stocks up Oil rises, gold falls LONDON, March 29 (Reuters) – Global stocks rose on Wednesday as investors took heart from greater levels of stability in the banking sector, but the sense of … Read more