The National Defense Authorization Act (NDAA) for 2027 is coming into focus after the House and Senate armed services committees advanced their versions of the bill earlier this month.
The PSA Peugeot Citroen board announced on February 18 that it approved a deal that will give China Dongfeng Motor Co. a 14 percent share and two seats on its board in exchange for $1.1 billion. Peugeot also announced that it has entered into the same agreement with the French government. As a result, the […]
Danone, the world’s biggest yogurt maker, announced on February 12 that it has agreed to pay $663 million to increase its stake in China Mengniu Dairy Co., China’s largest milk producer, from 4 to 9.9 percent. Mengniu also announced in the same statement that state-owned food processer COFCO Group, Danone, and Arla Foods—whose combined shares […]
On a quest to help Chinese factories cut costs and reduce energy use, an entrepreneur works the assembly line. By Christina Nelson Taryn Sullivan has worked every job in a Chinese factory. After years of traveling to China to source and develop products for American companies, the founder and CEO of Efficiency Exchange wanted a […]
Hong Kong-listed Brightoil Petroleum Holdings Ltd. reached an agreement on February 18 with Texas-based Anadarko Petroleum Corp. to purchase 40 percent and 29 percent interests in two offshore blocks located in the Bohai Bay for $1.08 billion. The two blocks produced an average of 32,000 barrels of oil per day in 2013, according to a […]
Alibaba Group Holding Ltd., China’s largest e-commerce company, has offered $1.58 billion for full control of digital mapping firm AutoNavi Holdings Ltd. AutoNavi holds a 31 percent share of China’s mobile map app market along with a rare mapping license from the Chinese government. Alibaba purchased a 28 percent stake in the company for $294 […]
By E.J. Thomas Google Inc. announced on January 29 that it has reached an agreement to sell Motorola’s smartphone hardware business, Motorola Mobility, to Lenovo Group Ltd. for $2.91 billion. The deal includes $660 million in cash, a three-year promissory note worth $1.41 billion, and $750 million in Lenovo ordinary stock, which will give Google […]
China’s JD.com, Inc.—also known as Jingdong or 360Buy—is planning for an initial public offering (IPO) in the second half of 2014 that could raise up to $2 billion, according to Bloomberg News. Jingdong, one of China’s largest e-retailers, is mulling a Hong Kong listing but leaning toward the United States. If successful, this would be […]
Residents of Chinese cities choked with air pollution look to air purifiers to breathe easier. By Joseph Luk As China’s cities experience record numbers of hazardous smog days, sales of residential air purifiers have been booming. Overall sales of air purifier products on average increased 11 percent annually between 2010 and 2012, according to China’s […]
By Carola McGiffert and Stephen A. Schwarzman When Vice President Joe Biden visited Beijing in December, he was on a crisis-management mission to diffuse recurring tensions in the East China Sea, spurred most recently by China’s new Air Defense Identification Zone. This development has the entire region on edge, worried about the real potential of […]
