Baidu Inc

BUSINESS

Hong Kong stocks lead losses as China Covid cases rise; Asia markets mixed

JD.com shares drop after company cuts senior management pay Hong Kong-listed shares of JD.com traded more than 5% lower in the afternoon after the company confirmed pay cuts of its senior management team. The Chinese e-commerce giant confirmed that it will slash the cash salaries of its senior management team by up to 20%, effective […]

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WORLD

Ray Dalio shares his outlook on Covid, real estate, politics in China

Ray Dalio, founder of Bridgewater Associates, received an award from the China General Chamber of Commerce-USA in February 2022. China News Service | China News Service | Getty Images BEIJING — American billionaire Ray Dalio said while he’s far less familiar with China’s new leadership team than prior officials, he expects worries about their future […]

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BUSINESS

Tesla, WeWork, Alibaba and more

Take a look at some of the biggest movers in the premarket: Tesla (TSLA) – Tesla fell 2.5% in the premarket after cutting Model 3 and Model Y prices in China by up to 9%. The price cuts come amid signs of softening demand in China. Chinese EV makers are also seeing their shares under […]

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BUSINESS

Apple iPhone maker Foxconn says it wants to make cars for Tesla

Young Liu, chairman of Foxconn Technology Group, speaks in front of a Model C electric vehicle during an event in Taipei, Taiwan, on Tuesday, Oct. 18, 2022. Liu said he hopes one day that Foxconn can make cars for Tesla. I-Hwa Cheng | Bloomberg | Getty Images Foxconn, the biggest assembler of Apple’s iPhones, wants […]

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BUSINESS

Google shuts down Translate service in China

Google pulled its search engine from China in 2010 because of heavy government internet censorship. Since then, Google has had a difficult relationship with the Chinese market. The end of Google Translate in China marks a further retreat by the U.S. technology giant from the world’s second-largest economy. Budrul Chukrut| SOPA Images | LightRocket | […]

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BUSINESS

Baidu claims its robotaxis have grabbed 10% of a ride-hailing market

Chinese tech giant Baidu’s robotaxis have grabbed about 10% of the ride-hailing market in a Beijing suburb, the company said Tuesday Vcg | Visual China Group | Getty Images BEIJING — In less than two years, Chinese tech giant Baidu’s robotaxis have grabbed about 10% of the ride-hailing market in a suburb of Beijing city, […]

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BUSINESS

Big Lots, Best Buy, Nikola and Lucid

A customer exits a Big Lots store in Clifton, New Jersey. Emile Wamsteker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Big Lots – Shares jumped 7.8% after the discount retailer posted a smaller-than-expected loss for the recent quarter. Revenue also beat expectations, and comparable store sales fell 9.2% […]

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BUSINESS

Palantir, Signify Health, Global Blood Therapeutics and more

Take a look at some of the biggest movers in the premarket: Palantir (PLTR) – The data analytics company’s stock plunged 15.6% in premarket trading after it reported an unexpected quarterly loss, and lowered its full-year forecast due to the uncertain timing of some government contracts. Signify Health (SGFY) – CVS Health (CVS) is planning […]

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BUSINESS

Baidu’s robotaxis don’t need any human staff in these parts of China

Chinese tech company Baidu announced Monday it can sell some robotaxi rides without any human staff in the vehicles. Baidu BEIJING — Chinese tech company Baidu said Monday it has become the first robotaxi operator in China to obtain permits for selling rides with no human driver or staff member inside the vehicles. The local […]

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