London CNN Business — Europe is becoming increasingly reliant on China for trade, and many of its top companies are eager to invest in the world’s second biggest economy despite the disruption caused by Covid lockdowns. But a souring relationship with an increasingly unpredictable Beijing, regret about the price Europe has paid for getting too […]
London/Berlin CNN Business — The German government has blocked the sale of one of its semiconductor factories to a Chinese-owned tech company because of security concerns. Germany’s economic ministry said in a statement that it had prohibited Elmos Semiconductor, which makes chips for the automotive industry, from selling its factory in Dortmund to Silex, a […]
Hong Kong/London CNN Business — German Chancellor Olaf Scholz will arrive in China on Friday with a team of top executives and a clear message: business with the world’s second largest economy must continue. In a whirlwind one-day visit, Scholz is expected to meet with Chinese leader Xi Jinping and Premier Li Keqiang in Beijing. […]
Minneapolis CNN Business — The US economy grew last quarter, bouncing back after shrinking in the first half of the year. Gross domestic product — the broadest measure of economic activity — rose by an annualized rate of 2.6% during the third quarter, according to initial estimates released Thursday by the Bureau of Economic Analysis. […]
London CNN — With Europe looking for alternatives to Russian energy, the European Union has set a target to produce 11 million tons of green hydrogen, and import another 11 million tons, by 2030. Green hydrogen (hydrogen produced using renewable energy) is being touted as a clean alternative to fossil fuels that could power heavy […]
Hong Kong/Seoul CNN Business — Clark Park, a 35-year-old YouTuber, is one of many people in South Korea fed up with high food prices. That’s why he grabbed his camera and joined a huge throng of shoppers clamoring for cheap fried chicken one August morning at Homeplus, a hypermarket chain that had just slashed 12% […]
London CNN Business — Russia won’t immediately resume exports of natural gas to Europe through its Nord Stream 1 pipeline, worsening a shortage that threatens to tip the continent into an energy crisis this winter. On Friday, Russian state energy giant Gazprom said it would not resume flows through the pipeline on Saturday as planned […]
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