Category: fox-business/markets/china

GOP rep suggests Musk’s SpaceX is withholding satellite service in Taiwan

Rep. Mike Gallagher, R-Wisc., suggested that billionaire Elon Musk’s SpaceX is deliberately withholding satellite service for Taiwan this week. Gallager, who chairs the House Committee on Competition with China, made the statement in a letter to Musk obtained by the Wall Street Journal late Saturday. The lawmaker noted that any withholding of services to Taiwan may be in violation of its obligations to the U.S….

Ford, GM CEOs open to partnerships to compete with China

The CEOs of leading U.S. automakers Ford and GM on Thursday signaled they are open to considering partnerships to lower the cost of electric vehicle technology to compete with low-cost Chinese EVs looking to the U.S. and European markets. “If there’s ways that we can partner with others, especially on technologies that are not consumer-facing, and be more efficient with R&D as well as capital,…

Imported luxury cars such as Audi held by US over banned part linked to forced labor in China

Thousands of imported luxury cars made by brands like Porsche, Bentley and Audi are being held by U.S. authorities after a part in those vehicles was found to have violated laws against importing goods made with forced labor in China, according to a new report. The Financial Times reported Wednesday that several thousand Audi vehicles, about 1,000 Porsche luxury cars, and several hundred Bentleys are…

TikTok CEO grilled on Chinese Communist Party influence, searches of Taylor Swift vs. Tiananmen Square

TikTok CEO Shou Zi Chew repeatedly denied under oath an affiliation with the Chinese Community Party on Wednesday, as U.S. senators grilled him during a hearing on Big Tech and the online child exploitation crisis. Sens. Ted Cruz, R-Texas, and Tom Cotton, R-Ark., referenced how TikTok, which is controlled by the Chinese company ByteDance, is subject to a 2017 national intelligence law requiring Chinese companies…

Village to offer cash to help country’s ‘bachelor crisis’

A Chinese village is offering incentives to matchmakers to help bachelors tie the knot. The Xiangjiazhuang village committee will give a reward of 600 to 1,000 yuan (US $84 to US $140) to matchmakers who successfully facilitate a marriage, state media outlet The South China Morning Post said. According to the outlet, the program will start on Jan 1 next year and continue for three…

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