Tag Archives: Chinese

Would you buy a Chinese car called Trumpchi?

GAC’s Trumpchi GS4 model. One of China’s biggest automakers plans to start selling cars in the U.S., but it’s facing a headache over the name of its flagship brand: Trumpchi. It was intended to sound like its Chinese name, Chuanqi. But executives at the brand’s owner, Guangzhou Automobile Group (GAC), are concerned the likeness to the U.S. president’s name could put its American ambitions in a spin. A GAC spokeswoman told CNNMoney that the company is doing research and consultation about whether to usethe Trumpchi brand in the U.S. It ...

Read More »

HSBC refuses to open bank account for Chinese dissident Ai Weiwei

Chinese artist Ai Weiwei poses in downtown Hong Kong, China April 19, 2017. REUTERS/Venus Wu By Venus Wu| HONG KONG Chinese dissident artist Ai Weiwei said on Wednesday global banking giant HSBC Holdings Plc refused to open a personal bank account for him in Hong Kong for what he assumed were political reasons, a conjecture the bank dismissed. The burly, bearded artist, who was in the financial hub for three days to visit his exhibition, said he did not try to open accounts at other banks, but that he had ...

Read More »

Chinese giant outbids U.S. rival for firm that handles Mexico money transfers

Jack Ma: President Trump must work with China A Chinese financial services giant is back in front in the race to buy U.S. money transfer service MoneyGram. The Chinese firm, Ant Financial, just upped its offer to $ 1.2 billion for MoneyGram(MGI), one of the most popular avenues for sending money from the U.S. to Mexico and other countries. The original deal struck in January was for $ 880 million, but U.S. company Euronet Worldwide(EEFT) jumped in last month with an unsolicited $ 1 billion offer. That forced Ant, an ...

Read More »

Chinese tech giant's $2 billion deal to buy Vizio collapses

LeEco’s founder and CEO, Jia Yueting, slashed his annual salary after admitting the company was running low on cash. A major Chinese tech deal in the U.S. just fell apart. Beijing-based LeEco has pulled the plug on a plan to buy U.S. electronics maker Vizio for $ 2 billion. In a statement, the companies blamed “regulatory headwinds” for the deal’s collapse but didn’t elaborate. It’s a sharp turnaround from July, when LeEco touted the acquisition of the U.S. smart TV maker as “an important step” in its efforts to grow ...

Read More »

Chinese firm creates jobs in Rust Belt county that voted for Trump

Chinese firm brings jobs to the U.S. A Chinese company is helping revive an Ohio town decimated by industrial decline. Tree-lined roads in Moraine used to be filled with cars driven by people heading to work at the region’s ubiquitous factories. Those factories are now shuttered and rusted. And most of the workers have packed up and left. “When all those jobs leave, it destroys a town,” said Shane Reffett, a local resident who grew up nearby. President Trump blames trade with China for destroying millions of U.S. manufacturing jobs ...

Read More »

Chinese shoe manufacturer: Ivanka Trump 'is a very good client'

Inside the Chinese firm that makes Ivanka Trump shoes For at least one Chinese company, the Trump family is good for business. While President Donald Trump promises tough talking on trade when he meets his Chinese counterpart Xi Jinping this week, his daughter’s clothing brand continues to take advantage of the country’s low cost production. “Ivanka is a very good client,” said Zhang Huarong, chairman of Huajian Group, whose factories churn out millions of shoes for Western brands, including Ivanka Trump. “But of course, I never imagined Ivanka’s father would ...

Read More »

Chinese firm files missing person report for exec after huge stock drop

Chinese firm lost contact with top exec A troubled Chinese company says it has turned to police to help it try to find a senior executive with whom it lost contact days before its stock suddenly plunged as much as 91%. China Huishan Dairy has lodged a missing person’s report for Ge Kun, who oversaw the company’s treasury, it said in a stock exchange filing late Friday. Huishan said it took the step “out of a concern for her whereabouts.” The report was filed in Hong Kong, which was her ...

Read More »

Chinese firm 'lost contact' with top exec days before 90% stock plunge

A major Chinese dairy firm, whose shares nosedived as much as 91% last week, revealed it has lost contact with a top finance executive and missed bank payments. The mysterious plunge in China Huishan Dairy shares on Friday wiped $ 4.1 billion off its market value, triggering confusion and speculation about what was going on at the company. After several days of silence, Huishan attempted to set the record straight in a filing to the Hong Kong stock exchange on Tuesday. It said it has been unable to contact Ge ...

Read More »

U.S. firm outbids Chinese giant in effort to buy MoneyGram

U.S. electronic payments company Euronet Worldwide just offered $ 1 billion to buy national rival MoneyGram, potentially sparking a bidding war with Chinese competitor Ant Financial. MoneyGram said it “will carefully review and consider” Euronet’s unsolicited offer. The Dallas-based company is one of the most popular avenues for sending money from the U.S. to Mexico and other countries. MoneyGram stock jumped nearly 25% following the new bid. Related: Chinese giant buys U.S. firm that does Mexico money transfers Ant Financial, an affiliate of Chinese e-commerce giant Alibaba(BABA, Tech30), announced last ...

Read More »

Marx's German birthplace to accept controversial Chinese statue

FILE PHOTO: A monument to Karl Marx stands above his remains at the Highgate Cemetary in North London February 24. May 5 marks the 180th anniversary of the birth of Marx in Trier, Germany./CLH/File Photo The German city of Trier has decided to accept a towering statue of Karl Marx from China marking next year’s 200th birthday of the founding father of communism, despite some suggestions it sends a bad signal to Beijing over its human rights record. A debate about the statue of Marx with head held high and ...

Read More »