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Starbucks on Monday announced it is forming a joint venture with Boyu Capital to operate the company’s locations in China. Under the terms of the deal valued at $4 billion, Boyu, an alternative asset management firm, will hold up to a 60% interest in the joint venture. Starbucks will hold a 40% stake and maintain […]
WASHINGTON — The US and China have finalized a deal to transfer the American version of TikTok to new owners, Treasury Secretary Scott Bessent revealed on Sunday. President Trump and Chinese leader Xi Jinping will officially “consummate” that deal when they meet in Busan, South Korea on Thursday — marking the first time the two […]
new video loaded: The N.B.A. Returns to China After Six Years transcript Back transcript The N.B.A. Returns to China After Six Years The N.B.A, returns to China this week, after a hiatus sparked by a controversial 2019 tweet. In Macau, New York Times business reporter Tania Ganguli reveals the behind-the-scenes stakeholders who orchestrated the league’s […]
GOP China hawks are expected to reluctantly support President Trump’s efforts to save TikTok from going dark in the US – despite lingering concerns about US security, On The Money has learned. Key Republicans were briefed earlier this week about the president’s new US-controlled company that will house the wildly popular and controversial short-video app […]
A customer holds up the new orange-colored iPhone 17 Pro Max smartphone inside an Apple retail store in Chongqing, China, on September 19, 2025. Cheng Xin | Getty Images News | Getty Images The iPhone 17 hit store shelves worldwide on Friday, drawing lines from Beijing to London. But beyond the launch buzz, Apple is […]
The US and China are closing in on a deal to avoid a US ban of TikTok – and it will include China allowing US techies to replicate and replace the wildly popular app’s secret-sauce recommendation algorithm, On The Money has learned. Top White House officials confirmed on Monday they’ve settled on a “framework” for […]
Samuel Boivin | Nurphoto | Getty Images The U.S. and China have reached a “framework” deal for social media platform TikTok, Treasury Secretary Scott Bessent said Monday. “It’s between two private parties, but the commercial terms have been agreed upon,” he said from U.S.-China talks in Madrid. Both President Donald Trump and Chinese President Xi […]
The US is making it more difficult for chipmakers Samsung and SK Hynix to produce chips in China by revoking authorizations that allowed the companies to receive American semiconductor manufacturing equipment there, according to the Federal Register. The US Commerce Department had given the companies exemptions to sweeping restrictions created in 2022 on the sale of US semiconductor equipment to China. The […]
Nvidia and AMD have agreed to give the US government 15% of their revenues from chip sales in China, under an arrangement to obtain export licenses for the semiconductors, the Financial Times reported on Sunday. The revenue share applies to Nvidia’s H20 chips and AMD’s MI308 chips, the report said, citing a US official, adding that the […]
new video loaded: In the Latest Space Race, It’s China vs. SpaceX By Selam Gebrekidan, Nikolay Nikolov, Jon Hazell, Laura Salaberry and Malika Khurana•July 24, 2025 China has made it a national priority to catch up with SpaceX’s nearly 8,000 Starlink internet-providing satellites in low-Earth orbit, which it regards as a military threat. Despite successes […]
