EconomyNew US tariffs of up to 100% on drones and parts took effect on Thursday as Washington seeks to reduce its reliance on Chinese suppliers, led by DJI.
EconomyNew US tariffs of up to 100% on drones and parts took effect on Thursday as Washington seeks to reduce its reliance on Chinese suppliers, led by DJI.
EconomyBloomberg TV’s Asia Trade examines the major stories facing Asian markets at the start of the trading day, including a sharp yen move as traders watch for possible intervention, President Trump’s consideration of additional chip tariffs and Broadcom’s CEO forecasting soaring AI-chip revenue.
PoliticsPresident Donald Trump said on September 2 that Chinese President Xi Jinping will visit the United States on the 24th. Trump said they would have many important issues to discuss during the visit and described it as exciting and great.
EconomyTreasury Secretary Scott Bessent said China blocked the Group of 20 from issuing a joint communique amid a dispute over its huge trade surplus. He also addressed US trade and financial ties with Japan and Canada.
EconomyTreasury Secretary Scott Bessent said 19 G20 members agreed to address streams of “cheap exports” contributing to global economic imbalances, while China dissented. He called the agreement remarkable and said it underscored the sheer scale of the problem.
EconomyEU trade chief Maroš Šefčovič tells Euronews that China must produce concrete results by October or face “harsher measures”. He describes talks to rebalance the surging trade deficit as “super political”, while European leaders seek clear pledges from Beijing.
EconomyEU trade chief Maroš Šefčovič told Euronews that China must produce concrete results by October or face “harsher measures”. He described talks aimed at rebalancing the growing trade deficit as “super political”, while European leaders seek clear commitments from Beijing.
PoliticsBloomberg’s “The China Show” examines simmering US-China tensions at the G20 meeting, alongside renewed inflation concerns linked to the US-Iran conflict and Bessent’s remarks targeting Iran’s reliance on the yuan.
EconomyTreasury Secretary Scott Bessent said China prevented the Group of 20 from issuing a joint communique after finance ministers and central bank chiefs met this week, citing a dispute over China’s huge trade surplus.
EconomyFrance has begun imposing fees on the most extreme end of fast fashion in an effort to curb the surge in cheap clothing sales through e-commerce platforms including Shein and Temu. The move could have implications for fast-fashion giants.
EconomyU.S. Treasury Secretary Scott Bessent holds a briefing as the G20 Finance Ministers meeting concludes.
EconomyA federation of European textile associations has called for a 10-euro fee on fashion imports, seeking to curb ultra-cheap competition largely from China. University of Delaware professor Sheng Lu says it remains uncertain whether measures like this would push retailers such as Shein to alter their business model.
EconomyFrance has begun imposing fees on the most extreme end of fast fashion in an effort to curb a surge in cheap clothing sales through e-commerce sites such as Shein and Temu. The move could have implications for fast-fashion giants.
EconomyUltra-fast fashion retailer Shein is preparing for its long-awaited Hong Kong listing, after its valuation fell from a peak of $100 billion to a much lower targeted debut level. Regulatory efforts to close tax loopholes and pressure margins are forcing the company to overhaul its business model.
EconomyShein’s shares fell sharply in their Hong Kong debut, dropping as much as 10% to HK$43.72 in early trading before recovering some of the losses.
EconomyHong Kong is gaining appeal as a global listing venue and has become one of the busiest markets for new share sales this year amid improving investor sentiment and strong demand. Shein’s shares finished flat on their debut, as concerns grew that setbacks could erode its competitive edge. The Singapore-headquartered company raised about US$1.7 billion at a valuation of roughly US$26 billion, one-quarter of its 2022 peak.
EconomyShein shares plunged after the company’s Hong Kong IPO valued it at only a fraction of its former worth. Meanwhile, a deepening global bond-market rout has investors worried about rate hikes and deteriorating fiscal conditions, while rising yields and Russia’s presence add tension to a gathering of G20 finance chiefs.
EconomyShares of online fast-fashion retailer Shein finished flat on their Hong Kong debut as investors weighed the potential impact of setbacks that had repeatedly delayed its listing. Reuters Chief Asia M&A Correspondent Kane Wu attended the IPO ceremony.
EconomyShein’s shares fell sharply on their long-awaited Hong Kong debut. The program also examines fierce competition in China’s AI sector and the damage it has done to Z.AI’s first-half revenue.
EconomyOnce valued at nearly US$100 billion, fast-fashion giant Shein has gone public in Hong Kong at about US$26.3 billion after unsuccessful listing efforts in the US and UK. As investors shift their focus to AI, questions are growing over the pressures on Shein’s business model and whether it missed its IPO window.
EconomyChina-founded fast-fashion e-commerce giant Shein is making its debut on Hong Kong’s stock market. The Singapore-based retailer is raising $1.7 billion in one of Hong Kong’s largest initial public offerings of the year.
EconomySingapore-based, Chinese-founded fast-fashion company Shein is set to begin trading in Hong Kong. Its initial public offering was priced below the top of the marketed range and raised $1.74 billion.
Economy2:53As Shein prepares for its long-awaited Hong Kong listing, the business model behind its rise is facing increasing scrutiny. Europe has become a major regulatory battleground, with tougher rules, fines and investigations. France will impose financial penalties on ultra-fast fashion products from Sep 1, while Italy’s competition authority fined Shein US$1.2 million last year over what it called misleading environmental messages and claims.
EconomyShein is moving toward a Hong Kong listing valued at about $26.5 billion, around one-quarter of its 2022 peak. Earlier attempts to list in New York and London faced regulatory hurdles. The fast-fashion company is presenting plans to expand beyond its main brand through acquisitions or partnerships with other labels.