BUSINESS

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Alibaba Shares Plunge After Company Warns of Potential Slowdown
Shares of Chinese tech giant Alibaba have taken a hit after it reported a dismal performance for the quarter ending in September. The company’s net income declined by 87 percent year-on-year to 3.4 billion yuan...
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US Navy Officer, Wife Who Conspired to Sell Equipment to China Face Up to 30 Years in Prison
U.S. Navy Lt. Fan Yang, a Naval Flight Officer trained in anti-submarine warfare, was found guilty of hiding the purchase of two firearms for his co-defendants Ge Songtao (51, Nanjing, People’s Republic of China). His...
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China Bought Out an Italian Military Drone Company in 2018 and Nobody Noticed
In order to advance its national, economic, and military goals, the People’s Republic of China (PRC) has resorted to using any means necessary to acquire intellectual property, technology, and trade secrets from around the world....
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Racing to Prevent Real Estate Collapse, 21 Chinese Cities Issue ‘Decline Limit Orders’
China's housing market has been under heavy downward pressure since the second half of this year. According to incomplete statistics, up to now, 21 Chinese cities have issued housing market "Decline Limit Orders" or DLO’s...
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‘Whistleblower’ Frances Haugen Calls Facebook’s Transition to Meta a ‘Distraction’
Former Facebook employee Frances Haugen said Facebook’s recent renaming of its parent company to Meta was born out of profit over safety, calling it a “distraction” while others called the Metaverse project “dead on arrival.”...
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Two of Top Three Most Popular Electric Cars in China are Foreign Brands
China is one of the biggest electric car markets in the world. However, it is the foreign brands that seem to have an upper hand in terms of customer preference. Recently released results of a...
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Another Chinese Property Developer Faces Trouble Amidst Real Estate Crisis
Ever since China’s biggest real estate developer Evergrande unraveled its financial situation, several other players from the sector have also come out admitting that they too are in a tough spot. The latest to join...
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Facing Growing Pressure, Gaming Giant Epic to Shut Down Chinese Version of Fortnite After 2 Years in Beta
Ever since its launch in July 2017, Fortnite has taken the gaming world by storm. In spite of its immense popularity, Epic Games has announced that it has given up on plans to bring the...
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Man Wanted in China Arrested and Charged for Visa Fraud in Miami
According to the Department of Justice in the Southern District of Florida, a Chinese businessman who is charged in a federal grand jury indictment with entering the United States using fraudulently-obtained visas will remain behind...