Hong Kong protester given 9-year term in 1st security case

Armed police officer escort a van (behind) transporting Tong Ying-kit as he arrives at West Kowloon court in Hong Kong on July 6, 2020. Isaac Lawrence | AFP | Getty Images A pro-democracy protester was sentenced Friday to nine years in prison in the closely watched first case under Hong Kong’s national security law as … Read more

U.S. and India both want to ensure a stable Afghanistan, former ambassador says

U.S. Secretary of State Antony Blinken (L) meets Indian Prime Minister Narendra Modi at his Residence in New Delhi on India on 28 July, 2021. Ministry of External Affairs, Government of India | Handout | Anadolu Agency | Getty Images The United States and India have a shared interest in Afghanistan — and neither side … Read more

Ratings agencies downgrade China Evergrande as concerns over junk bonds rise

Major credit ratings agencies this week downgraded China’s most indebted property developer Evergrande, as concerns over Asia’s junk bond sector rise.  Fitch Ratings on Wednesday downgraded China Evergrande one notch from B to CCC, saying that the negative developments surrounding Evergrande may weaken investor confidence, further pressuring its liquidity.  A rating of CCC means there’s … Read more

Chinese stocks are now among Asia’s worst-performing as Beijing crackdown spooks investors

Investors watch computer screens at a stock exchange hall on July 13, 2020 in Nanjing, Jiangsu Province of China. Jiang Ning | VCG | Getty Images Days of heavy selling in Chinese stocks have left two major indexes in the country as the worst-performing markets of Asia-Pacific. At the close of regional markets on Tuesday, … Read more

Tesla records $23 million in bitcoin-related impairments after cryptocurrency’s second-quarter plunge

A Tesla store in Beijing, China, on July 4, 2021. Costfoto | Barcroft Media | Getty Images Tesla said Monday that a $23 million bitcoin-related impairment caused some drag on its quarterly operating income. The electric auto company only referred to bitcoin or crypto one time in its second-quarter announcement, after CEO Elon Musk went … Read more

Once Asia’s top performer, the Thai baht is now becoming the region’s worst-hit currency

Thai Baht banknotes and coins. Artur Widak l NurPhoto via Getty Images The Thai baht, once the strongest-performing currency in Asia before the pandemic, has been steadily falling in 2021 and is this year’s worst-hit currency in the region, according to Mizuho Bank. The Japanese bank pointed to “uncharacteristic under-performance in the Thai Baht, rendering … Read more

Why some investors are banking on a bitcoin IRA instead of Social Security

Nicolas Economou/NurPhoto via Getty Images For Matthew Roed, Social Security is looking a lot less promising than the money he’s stashed away in his BitcoinIRA. Roed is a registered nurse living in Golden Valley, Minnesota, and he says he’s spent 16,000 hours researching all things bitcoin. His conclusion? Investing in the cryptocurrency is the key … Read more

Singapore retailers are reeling from further Covid measures as sales drop 70% for some

People inside a shopping mall in Singapore on May 15, 2021, ahead of tightening restrictions over concerns of a rise in Covid-19 coronavirus cases. Roslan Rahman | AFP | Getty Images SINGAPORE — Singapore’s brick and mortar businesses have been hit hard by Covid-19 and retailers have seen sales plummet significantly as a result of … Read more

Embattled EV start-up Faraday Future gets second act with Nasdaq SPAC debut

Attendees look at Faraday Future’s FF 91 prototype electric crossover vehicle after it was unveiled at CES 2017 on January 3, 2017, in Las Vegas. Getty Images Faraday Future was expected to be the “next Tesla.” It was going to be a leader in electric vehicles with its groundbreaking FF 91 crossover that would usher … Read more

Smartphone shipments in India fell 13% on-quarter as Chinese firms maintain their stronghold

Pedestrians walk past a Xiaomi Corp. store and a Samsung Electronics Co. store in Mumbai, India. Dhiraj Singh | Bloomberg | Getty Images Smartphone makers shipped about 32.4 million devices in India between April and June, according to research firm Canalys. That was about 13% fewer handsets shipped compared with the previous three months. A … Read more