Cross-border Archives - Page 5 of 49

Hulu Layoffs Exceed 90% in Beijing

On March 29th, informed sources reported that Hulu, the streaming giant owned by Disney, will lay off over 90% of its staff in Beijing.

Tim Cook’s Trip to China Sparks Discussions on Social Media

Apple CEO Tim Cook has started his trip to China, where he was invited to attend the China Development Forum in Beijing from March 25 to 27. Apart from conducting business talks, Cook has been visiting Apple stores, attending meetings and taking photos with different people during his stay.

Tim Cook Commends China’s Innovation and Longstanding Partnership With Apple

During the China Development Forum on March 25, Apple CEO Tim Cook commended China for its rapid advancements in innovation and its longstanding relationship with Apple.

Batteries from Chinese-made Tesla Model 3 Standard Range Version Lose Tax Break

On March 23rd, Tesla revealed to employees that it is expected to lose the entire $7500 of federal tax break because its cheapest electric vehicle uses Chinese batteries.

Starbucks Launches Curbside Service in China with AutoNavi

On March 21, Starbucks launched a brand-new retail channel in China called "Starbucks Curbside" through its collaboration with Alibaba-backed web navigation company AutoNavi, providing orders to customers on the go.

US Chip Designer Marvell to Begin Layoffs in China

Marvell, a US-based chip designer, has reportedly decided to dissolve all of its Chinese research and development (R&D) teams. Marvell had already undergone significant layoffs in China in October of last year.

Texas Instruments Sets High Expectations for the Chinese Market

During a media communication meeting on March 16, Jiang Han, Vice President of TI and President of TI China, stated that the company's latest objective is to attain $45 billion in revenue by 2030, with the growth rate in China exceeding that of the global growth rate.

Tesla and BYD Deny Rumors about Halting Cooperation

On March 14, Tesla Chief Executive Elon Musk and Chinese electric vehicle and battery maker BYD denied a media report that said the U.S. giant was ending its cooperation with BYD on battery supplies.

Chinese-Based Firms Confirm Minimal Exposure to Silicon Valley Bank

The recent shutdown of Silicon Valley Bank (SVB) by regulators marks the largest bank failure in the United States since 2008. Several Chinese Hong Kong-listed companies have sought to reassure investors by stating that their cash deposits in SVB were not significant.

Google China Starts Layoffs, Compensation Provided

Recently, rumors about layoffs in Google's China division caused some concern. This round of layoffs is mainly hitting senior positions and high-paying employees in an effort to reset the salary standard and reduce operating costs while improving overall work efficiency.

Tesla’s Decision to Remove Rare Earths from Its EVs Causes Chinese Stocks to Tumble

Tesla said it is creating a permanent magnet electric vehicle motor with zero rare earth elements. Although the stock shares of many listed companies in China in the rare earth industry dropped heavily on the news, they remain optimistic about the future development of the industry.

Tom Zhu, Head of Tesla Greater China, Appears on Investor Day

At Tesla's Investor Day held on March 1, the electric vehicle manufacturer shared a series of business plans for future developments in R&D and manufacturing. Tom Zhu, the global vice president of Tesla and head of Greater China, explained Tesla's gigafactory situation.

Appraisal of Tesla Traffic Accident in Guangdong Now Finished

With regard to the accident involving a Tesla vehicle in Chaozhou, Guangdong Province on November 5 last year, the appraisal report has been finally sent to local police.

Tesla’s Flagship Store on JD.com Attracted 530K Followers in Three Days

After Tmall, a Chinese e-commerce giant, welcomed Tesla, rival e-commerce platform JD.com also launched an official flagship store for the EV giant and attracted over 530K followers in only three days.

Tims China to Develop and Subfranchise Popeyes in China and Macau

On February 9, TH International, the exclusive operator of Tim Hortons coffee shops in China (Tims China) announced that its board of directors had approved an agreement to develop Popeyes, the fried chicken chain, in mainland China and Macau.

Firms Gear Up for China’s Return to Pre-Pandemic Business Travel

Domestic and foreign firms are now eagerly awaiting a resumption of streamlined international business travel to and from China.

Zoom’s Global Layoffs to Affect China Division

Zoom CEO Eric Yuan announced plans to lay off 1,300 employees, accounting for 15% of its global staff. A number of current and former Zoom employees have confirmed that the layoffs have already started in Zoom's several offices in China.

Taiwanese Singer Jimmy Lin Fined for Illegal Parking Half a Year after Tesla Car Accident

Taiwanese singer and professional race driver, Jimmy Lin was photographed driving out to have dinner with friends, and was later fined for parking illegally. This is his first public appearance in front of the media since the accident involved a Tesla vehicle in July last year.

Goods Returning to China’s Cross-Border E-commerce Welcomes Favorable Policies

On January 30, China's three departments jointly issued an announcement on the tax policy for returned goods in cross-border e-commerce. The returned goods will be exempted from import duties, import value-added taxes and consumption taxes.

Starbucks China’s Comparable Store Sales Falls by 29% in Fiscal Q1 2023

On February 2, American multinational coffeehouse and roastery chain, Starbucks, reported its financial results for its 13-week fiscal first quarter ended January 1. Its global comparable store sales increased by 5%, but comparable store sales in China decreased by 29%.

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