The surprise launch of a sophisticated $900-plus Huawei Technologies Co. smartphone has captivated China’s technology industry, inspiring hopes that the country’s biggest firms can overcome US sanctions seemingly designed to thwart their ascendancy. The slim-bezeled Mate 60 Pro, which appeared this week for sale on online malls with little fanfare, ignited buzz among Chinese online … Read more
Good morning. UK’s food inflation cools to lowest level in almost a year, China’s economic outlook shows no signs of improvement, and Australian gas workers threaten to strike next week after gyrations in global prices. Here’s what people are talking about. The slowest increase in grocery bills in almost a year drove down inflation in … Read more
The leading association of global chip companies is warning that Huawei Technologies Co. is building a collection of secret semiconductor-fabrication facilities across China, a shadow manufacturing network that would let the blacklisted company skirt US sanctions and further the nation’s technology ambitions. Huawei, a controversial telecommunications gear maker at the heart of US-China tensions, moved … Read more
A new platform to expand the reach of China’s digital yuan and other central bank digital currencies is moving closer to reality, raising eyebrows among some defenders of a system long dominated by the dollar. The Beijing-backed digital prototype for sending money around the world without relying on US banks is advancing so quickly that … Read more
Good morning. UK store prices fall for the first time in two years, Apple’s main supplier to boost India presence and hedge funds rein in positions. Here’s what people are talking about. Prices in UK stores fell for the first time in two years, in another sign that the cost-of-living crisis is starting to ease. … Read more
Under fire from politicians and economists for failing to predict the pace of inflation, the Bank of England is calling in a big name to pronounce a verdict. The central bank today said former US Federal Reserve Chairman Ben Bernanke would lead a review into its economic forecasting. Bernanke’s surprise appointment comes as the UK … Read more
China’s yuan has replaced the US dollar as the most traded currency in Russia, a year after the invasion of Ukraine led to a slew of Western sanctions against Moscow. The yuan surpassed the dollar in monthly trading volume in February for the first time, and the difference became more pronounced in March, according to … Read more