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(Bloomberg) China’s once-mighty shoppers have turned into reluctant spenders in the face of an economic slowdown, a shift that’s proving particularly painful for stocks related to premium brands.Most Read from BloombergSouthwest Plane Plunged Within 400 Feet of Ocean Near HawaiiWells Fargo Fires Over a Dozen for ‘Simulation of Keyboard Activity’Yes, Everyone Really Is Sick a Lot More Often After CovidBump Stock Ban Tossed Out by Supreme Court in Gun-Rights WinTesla Investors Get Behind Musk’s ....
(Bloomberg) The share-price gap between Taiwan Semiconductor Manufacturing Co. and China’s biggest chipmaker is near its widest in almost two decades, highlighting the difficulty Beijing faces in building up its domestic chip industry.Most Read from BloombergRussia Is Sending Young Africans to Die in Its War Against UkraineMusk to Ban Apple Devices If OpenAI Is Integrated Into OSNYC Landlord to Sell Office Building at Roughly 67% DiscountInvestment Bank Moelis Probes Incident After Video of E ....
TSMC's Premium Over SMIC Shows Challenges for China's Chip Fund bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Hours after the Chinese government imposed a record $2.8 billion fine on Alibaba, a veteran internet entrepreneur urged regulators to do something similar to his company’s biggest competitor. Douyin, TikTok’s Chinese sister service, is suing Tencent, China’s biggest internet company, to allow users to share videos to Tencent’s ubiquitous WeChat messaging service. Alibaba, meanwhile, has applied to set up its own apps within WeChat, essentially daring Tencent to say no. Lawsuits are flying and tempers are flaring on the Chinese internet, home to the world’s largest single group of internet users. Beijing made it abundantly clear late last year that it was serious about curbing the power of a handful of companies that dominate online life in China. Now China’s internet companies are kowtowing to Beijing and trying to make their rivals look bad instead of correcting their own anticompetitive behavior. ....