Day: April 26, 2025

The US will face high costs and “monster” complexities to realise the Trump administration’s proposed “Golden Dome” missile defence shield designed in response to China’s expanding arsenal, according to analysts. Advertisement Citing six sources familiar with the matter, Reuters reported last week that SpaceX, the rocket and satellite company run by Elon Musk, who is also head of the Department of Government Efficiency, was partnering with software maker Palantir and drone builder Anduril in a bid to build key components of Golden Dome. According to Reuters, the three companies met…

China has once again rejected suggestions that it is in talks with the United States over tariffs, following repeated claims by US President Donald Trump that he has spoken with his Chinese counterpart, Xi Jinping, on the issue. Advertisement In a statement on social media on Saturday, the Chinese embassy in Washington described assertions that talks had occurred as “purely misleading”. “China and the US have not conducted consultations or negotiations on tariffs, let alone reached any agreement,” the embassy said. Trump claimed in an interview with Time magazine published…

Ant Group has bought control of Hong Kong’s largest retail stock brokerage, as mainland China’s dominant online-payment operator stakes out a foothold in Asia’s third-largest capital market amid a resurgence of initial public offerings (IPOs) and transactions. Advertisement Ant Group agreed to pay HK$2.81 billion (US$362.2 million) for 50.55 per cent of Bright Smart Securities & Commodities Group, according to a filing late Friday night to the Hong Kong stock exchange. Under the deal, Bright Smart chairman Yip Mow-lum has conditionally agreed to sell his stake of about 858 million…

People working in the fashion industry in Paris are wondering how they managed to get caught in the crossfire of the China-US trade war. Advertisement Amid rising trade tensions with the United States, English-language videos posted on TikTok by the operators of Chinese factories have showcased the country’s manufacturing prowess, going viral with claims that many expensive, high-quality European consumer goods are actually made in China. The videos suggest many bags sold by luxury brands such as Louis Vuitton, Chanel and Hermes are made in China at relatively low cost…

Chinese government official James Zhang is on a health kick. At the staff canteen, the 45-year-old piles his plate with salad and two hard-boiled eggs for lunch. Advertisement Zhang has lost 15kg (33 pounds) since March last year. He jogs 5km (3.1 miles) every second day, maintains a healthy diet and keeps track of his calorie intake like a professional nutritionist. Like many others in Chinese officialdom, Zhang used to be overweight due to lack of exercise, an unhealthy diet, smoking and drinking. “My BMI has dropped from near 30…