Category Archives: China

UK banks brace for first-quarter reports after Trump tariff turmoil

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Lenders expected to split into two camps: those focused on domestic customers and those with large operations in the US, China and the EU

UK banks’ earnings reports will be studied this week for signs of turmoil linked to Donald Trump’s tariff drama, with uncertainty over global growth likely to weigh on lenders with heavy exposure to China, including HSBC.

First-quarter profits only reflect the January-to-March period that preceded the US president’s “liberation day” tariff announcements on 2 April. But investors will be concerned about any hints of caution around earnings forecasts, as well as an uptick in money put aside for defaults by tariff-hit borrowers.

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US treasury secretary says ‘there is a path’ with China over tariff negotiations

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‘The Chinese will see this high tariff level is unsustainable for their business,’ says Scott Bessent

The US treasury secretary, Scott Bessent, said “there is a path” to an agreement with China over tariffs after he had interactions with his Chinese counterparts last week in Washington.

“I had interaction with my Chinese counterparts, but it was more on the traditional things like financial stability, global economic early warnings,” Bessent told ABC News’s This Week on Sunday, explaining that he spoke to the Chinese during International Monetary Fund meetings in Washington. “I don’t know if President Trump has spoken with President Xi,” he added.

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Trump administration investigating California university over foreign gifts

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DoE investigation revives reports that UC Berkeley failed to disclose Chinese funding for a now severed partnership

The Trump administration launched an investigation into the University of California, Berkeley, on Friday centered on foreign funding, making it the latest university to be targeted by the federal government.

The investigation revives criticism from several years ago about the university’s partnership with China’s Tsinghua University. It comes after Donald Trump earlier this week signed a series of executive orders focused on universities that he views as liberal adversaries to his political agenda.

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Trump administration investigating California university over foreign gifts

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DoE investigation revives reports that UC Berkeley failed to disclose Chinese funding for a now severed partnership

The Trump administration launched an investigation into the University of California, Berkeley, on Friday centered on foreign funding, making it the latest university to be targeted by the federal government.

The investigation revives criticism from several years ago about the university’s partnership with China’s Tsinghua University. It comes after Donald Trump earlier this week signed a series of executive orders focused on universities that he views as liberal adversaries to his political agenda.

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Xi announces plan for Chinese economy to counter impact of US trade war

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Beijing will ‘strengthen bottom-line thinking’ as reports say it could drop tariffs on some US products

Xi Jinping has announced a plan to counter China’s continuing economic problems and the impact of the US trade war, as reports swirl that it could drop tariffs on some US products, including semiconductors.

Friday’s meeting of the politburo was convened to discuss China’s economy, which since the pandemic has faced difficulties fuelled by a housing sector crisis, youth unemployment and Donald Trump’s tariffs on all Chinese imports to the US.

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US writers at growing risk of crackdown on free speech, says PEN America

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China again biggest jailer of writers in 2024, followed by Iran – with Israel in fifth place, says organisation’s annual report

Writers in the US are at growing risk amid a worldwide crackdown on free speech that has begun to spread to countries previously renowned for unfettered expression and openness, according to a leading writers’ advocacy group.

PEN America said it was concerned about an emerging threat from the Trump administration as it published its annual Freedom to Write index report, which showed that the number of writers jailed worldwide had jumped for the sixth year running to 375 in 2024, compared with 339 the year before.

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Badenoch declines to criticise Jenrick over Reform coalition comments – as it happened

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Spokesperson for Tory leader says she agrees with colleague that ‘we need to bring centre-right voters together’. This blog is closed

Rosie Duffield, the independent MP who left Labour after the election in part because she felt her gender critical views made her unwelcome in the party (although her resignation letter focused on welfare issues), has claimed that Keir Starmer no longer arguing a trans woman is a woman shows he is a “manager rather than a leader”.

Speaking on LBC, Duffield said:

It’s just another sign of the prime minister’s lack of leadership skills. I’m bound to say that, he’s a manager rather than a leader. He responds and reacts rather than leads from the front, and this is what we’re seeing again from him.

Nigel Farage is peddling a dangerous fantasy by claiming the UK can be self-sufficient in gas.

After sixty years of drilling, the truth is the UK has already burned most of its gas. That’s down to geology, not politics, and no amount of hot air from Farage will change that.

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Boeing investors brace for fallout from Trump tariffs

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Jets intended for Chinese airline returned to US, raising fears for planemaker as results near

Investors in Boeing are braced to learn the full impact of Donald Trump’s trade war, amid fears the US planemaker could be hit harder than first expected after jets intended for a Chinese airline were returned to the US.

A Boeing 737 Max 8 plane intended for use by a Chinese airline returned to the US on Monday from Boeing’s China finishing centre, according to flight data cited by Reuters. It followed the arrival in the US on Sunday of another 737 Max painted in the livery of China’s Xiamen Airlines at Boeing’s US production hub in Seattle.

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China pits humanoid robots against humans in half-marathon for first time

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Twenty-one humanoid robots joined thousands of runners at the Yizhuang half-marathon in Beijing

Twenty-one humanoid robots joined thousands of runners at the Yizhuang half-marathon in Beijing on Saturday, the first time these machines have raced alongside humans over a 21km course.

The robots from Chinese manufacturers such as DroidVP and Noetix Robotics came in all shapes and sizes, some shorter than 1.2m, others as tall as 1.8m. One company boasted that its robot looked almost human, with feminine features and the ability to wink and smile. Some firms tested their robots for weeks before the race. Beijing officials have described the event as more akin to motor racing, given the need for engineering and navigation teams.

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China dismisses Zelenskyy’s claim it has supplied weapons to Russia

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Beijing rejects Ukrainian president’s accusation as ‘groundless’ and says it is committed to ending the conflict

China’s foreign ministry has dismissed as “groundless” the accusation by Volodymyr Zelenskyy that the country had been supplying weapons to Russia.

The comments, made at a regular press briefing in Beijing on Friday, came a day after the Ukrainian president said China was supplying weapons to Russia, including gunpowder and artillery, and that Chinese representatives were involved in weapons production on Russian territory.

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New daily weight-loss pill shows success at clinical trial

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Orforglipron also reduced blood sugar levels in participants with type 2 diabetes

A significant trial of a daily weight-loss pill has found that it helped people to shed the pounds and reduce their blood sugar levels, making it a contender to join the new wave of drugs that combat obesity and diabetes.

People who took a 36mg pill of orforglipron lost an average of 7.3kg (16lbs) over nine months, according to results from a phase 3 clinical trial reported by the drug’s manufacturer, Eli Lilly, on Thursday.

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Uyghur rights group calls on hotel chains not to ‘sanitise’ China abuses in Xinjiang

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Growth in international hotels coincides with government effort to push region as a tourism destination

Almost 200 international hotels are operating or planning to open in Xinjiang, despite calls from human rights groups for global corporations not to help “sanitise” the Chinese government’s human rights abuses in the region, a report has said.

The report by the Uyghur Human Rights Project (UHRP) identified 115 operational hotels which the organisation said “benefit from a presence in the Uyghur region”. At least another 74 were in various stages of construction or planning, the report said. The UHRP said some of the hotels also had exposure or links of concern to forced labour and labour transfer programmes.

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Nvidia’s CEO makes surprise visit to Beijing after US restricts chip sales to China

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Jensen Huang causes stir on social media and is reported to have met founder of AI company DeepSeek

The chief executive of the American chip maker Nvidia visited Beijing on Thursday, days after the US issued fresh restrictions on sales of the only AI chip it was still allowed to sell to China.

Jensen Huang’s surprise visit was on the invitation of a trade organisation, according to a social media account affiliated with state media.

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China accuses UK politicians of ‘arrogance’ in British Steel row

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Embassy criticises ‘slandering’ of Chinese government and defends Jingye over furnaces dispute

China has accused UK politicians of “arrogance, ignorance and a twisted mindset” as it defended British Steel’s owner, Jingye, after a barrage of criticism over the narrowly averted shutdown of its blast furnaces.

Beijing’s embassy to the UK accused unspecified British public figures of slandering China’s government and businesses, in comments published on Wednesday on its website.

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Reeves says inflation fall shows ‘plan for change is working’ – UK politics live

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Chancellor says wages are growing faster than prices but acknowledges many are still struggling with the cost of living

A government minister has reiterated the call for the Unite union to accept a deal and end the bin strike in Birmingham.

Speaking on GB News this morning, Lillian Greenwood, parliamentary under-secretary of state for the future of roads, said residents were facing “a completely unacceptable situation”

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Trump claims tariffs bringing in ‘record numbers’ amid reports US seeking to isolate China – US politics live

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President also claims inflation is falling as Chinese state media tells US to ‘stop whining’ amid escalating trade war

Joe Biden on Tuesday accused Donald Trump and his billionaire lieutenant, Elon Musk, of “taking a hatchet” to the social security administration as they moved at warp-speed to dismantle large swaths of the federal government.

In his first public remarks since leaving office, the former president avoided any explicit mention of Trump – his predecessor and successor – but he was sharply critical of the new administration for threatening social security, which Biden called a “sacred promise” that more than 70 million Americans rely on each month.

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China to snub UK energy summit amid row over infrastructure projects

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Exclusive: Absence of world’s biggest clean energy producer will be welcomed by US pushing oil and gas exports

China is to snub a major UK summit on energy security next week, the Guardian has learned, amid a growing row over the country’s involvement in UK infrastructure projects.

The US will send a senior White House official to the 60-country summit, to be co-hosted with the International Energy Agency. Leading oil and gas companies are also invited, along with big technology businesses, and petrostates including Saudi Arabia, Qatar and the United Arab Emirates.

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Hong Kong halts postal service for US-bound goods over Trump’s ‘bullying’ tariffs

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Post office says it ‘definitely’ won’t collect tariffs on Washington’s behalf and Hongkongers should prepare to pay exorbitant fees

Hong Kong Post said on Wednesday it had suspended goods mail services by sea to the US and will suspend its air mail postal service for items containing goods from 27 April due to “bullying” US tariffs.

When sending items to the US, people in Hong Kong “should be prepared to pay exorbitant and unreasonable fees due to the US’s unreasonable and bullying acts”, Hong Kong Post said in a statement.

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UK trade secretary to visit China with aim of reviving key joint trade commission

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Jonathan Reynold’s trip suggests government will continue its rapprochement with Beijing despite security concerns

The trade secretary, Jonathan Reynolds, will travel to Beijing to revive a key trade dialogue with China despite saying it had been naive to allow Chinese investment in sensitive sectors, the Guardian has learned.

Reynolds is scheduled to travel to China later this year for high-level talks in an effort to boost bilateral trade and investment.

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Revealed: Chinese researchers can access half a million UK GP records

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Medical information will be available from UK Biobank, despite western intelligence agencies’ security fears

Researchers from China are to be allowed access to half a million UK GP records despite western intelligence agencies’ fears about the authoritarian regime amassing health data, the Guardian can reveal.

Preparations are under way to transfer the records to UK Biobank, a research hub that holds detailed medical information donated by 500,000 volunteers. One of the world’s largest troves of health data, the facility makes its information available to universities, scientific institutes and private companies. A Guardian analysis shows one in five successful applications for access come from China.

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