Business News
Latest business news and updates
Total: 749
When the Gold Rush Faltered: Beijing Grandparents Queue to ‘Buy the Dip’ as Markets Plunge
A historic intraday crash on 30 January 2026 wiped out major portions of gold and silver’s recent gains, provoking panicked selling and a striking countertrend: older Beijing shoppers queuing to buy physical bars even as younger online investors were trapped. The rout was driven by stretched positions, margin increases on U.S. futures exchanges and uncertainty about U.S. monetary policy; it exposed frictions between physical dealers, retail products and global derivatives markets.
Escaping the Fire: The Silver Flash Crash and the Perils of Leverage
A sudden one-day 30% plunge in spot silver on January 30 triggered sharp declines in metal-linked equities and highlighted the danger leverage poses during liquidity squeezes. Swift regulatory margin increases and low market valuations helped avert widespread forced liquidations, but the incident underscores the need for cash buffers, conservative leverage and structural market safeguards.
Alibaba’s Qianwen Extends Lunar New Year Free-Order Cards as Demand Overwhelms Delivery Capacity
Alibaba’s Qianwen extended its Spring Festival 25-yuan free-order card validity to February 28 after demand outpaced expectations, and widened eligibility to include meals, fresh produce and New Year goods via Tmall and Hema. Heavy user participation has strained merchant and flash-delivery capacity, leaving many unable to place orders and exposing the logistics limits behind a high-profile promotional push.
Fat‑Finger at Bithumb Sends Hundreds of Thousands of Bitcoins Into Market, Triggers Short‑Lived Crash and Regulatory Alarm
A Bithumb employee’s data‑entry error credited 620,000 bitcoins across 695 accounts, prompting rapid selling, a 17% price plunge on the exchange, and sweeping regulatory alarm. Bithumb says it recovered 99.7% of the coins, will compensate harmed customers, and regulators in Seoul will review exchange controls and possibly conduct on‑site inspections.
From Sunflower Seeds to Status Symbols: China’s Roasted‑Nut Shops Go Luxury — and Risk a Backlash
China’s traditional roasted‑nut and dried‑fruit shops have been transformed into premium retail experiences with polished stores, viral products and hefty price tags, led by brands such as Xueji. The sector’s growth is driven by packaging, product innovation and digital marketing, but rising prices and perceived homogeneity risk a consumer backlash even as market size continues to expand.
IKEA’s Clearance Rush: A Last Hurrah — and a Symptom of China’s Furniture Retail Shake‑Up
IKEA’s high-profile clearance sales at seven closing Chinese megastores drew crowds and chaotic scenes, highlighting the decline of large-format furniture malls and the rise of small-format, omnichannel retail. Consumer preferences, e-commerce competition and changing urban living patterns are reshaping China’s home-furnishing market, creating winners among agile domestic brands and lifestyle retailers and headaches for landlords and legacy operators.
Bitcoin Climbs Above $70,000 as Market Momentum Returns
Bitcoin rose above $70,000 on 8 February, climbing 1.14% intraday, according to a NetEase user-posted market alert. The milestone underscores continuing investor interest and market volatility, with implications for traders, asset managers and regulators monitoring crypto's systemic risks and adoption dynamics.
Trading Error at Bithumb Sends Bitcoin into a 17% Flash Crash, Exchange Recovers Almost All Coins
A data-entry error at South Korean exchange Bithumb mistakenly credited 620,000 BTC to prize winners, prompting immediate sell orders that caused a 17% intraday price drop. The exchange says it recovered 99.7% of the coins and will compensate customers harmed by the forced selling, while regulators have opened reviews of exchanges’ internal controls.
Crypto Fiasco in Korea: Exchange Reportedly Airdrops 620,000 'Bitcoin' — A Technical Glitch or Market Shockwave?
Reports that a South Korean exchange accidentally airdropped 620,000 units labeled as bitcoin sparked alarm amid a wider crypto market slump. Given the implausible scale, analysts suspect a technical or token‑mapping error; the episode nonetheless underscores operational, regulatory and information risks for centralized crypto platforms.
Typo, Turmoil: Bithumb's 'Won‑for‑Bitcoin' Error Sparks $40bn Flash Crash and Regulatory Sweep
A data‑entry error at South Korean crypto exchange Bithumb led to hundreds of user accounts being mistakenly credited with very large bitcoin balances, triggering a brief 17% price plunge on the platform. Bithumb said it recovered 99.7% of the coins, will compensate affected customers, and now faces regulatory reviews that could strengthen oversight of exchanges worldwide.
Washington Post CEO Abruptly Steps Down After Cuts That Removed a Third of Staff
The Washington Post's CEO and publisher Will Lewis left the paper immediately on February 7, with CFO Jeff D’Onofrio installed as interim publisher and CEO after the paper announced cuts of roughly one‑third of staff. The layoffs — affecting hundreds of journalists across nearly every beat — reflect wider financial pressures on legacy news organizations and could materially reduce the Post’s reporting capacity on international and specialized coverage.
Copyable Codes, 1‑Cent Milk Tea and a Grey Market: How AI ‘Red‑Envelope’ Promotions Are Testing China’s Platforms
WeChat briefly allowed users to copy AI app red‑envelope codes on Feb. 7, reigniting viral sharing of digital coupons after Tencent had blocked direct links. Alibaba‑backed Qianwen’s 1‑cent milk‑tea promotion sparked intense demand and a small secondary market selling redemptions, prompting the company to warn that its virtual benefits are non‑transferable and may be revoked if resold.