Business News
Latest business news and updates
Total: 749
IKEA Clearance Turned Crowd Frenzy Lays Bare the Decline of China’s Big‑Box Home Retail
A massive clearance sale at seven closing IKEA stores in China drew chaotic crowds and highlighted a larger shift away from suburban, big‑box home furnishing malls. Declining occupancy, rising bankruptcies and the rapid rise of small‑format and online‑born domestic brands suggest the industry is being reshaped by new consumer habits and retail economics.
Meituan’s Defensive Buy: How a 5 Billion‑Yuan Purchase of Dingdong Rewrites China’s Instant‑Retail Map
Meituan’s 5 billion‑yuan acquisition of Dingdong Maicai ends the start‑up’s independent run and reflects a defensive, strategic push in China’s instant‑retail wars. The deal gives Meituan regional market share, warehouses and a curated sourcing capability, but integration risks diluting Dingdong’s locally tuned advantages as the sector consolidates ahead of another likely subsidy‑driven showdown in summer 2026.
‘Shared Massage-Chair’ IPO Collapses Within Two Months as Safety and Scale Doubts Emerge
LeMo Technology’s Hong Kong-listed shares halved within two months of its December 2025 IPO, tumbling to HK$18.84 on 6 February 2026 amid sharp intra-day sell-offs. Investor confidence soured after safety incidents, poor customer reviews and investigative reports that questioned the authenticity of the company’s claimed device deployments.
China Tightens the Noose on Crypto and Tokenised Assets: Offshore RMB Stablecoins Banned, Domestic Services Prohibited
China’s central bank and seven other agencies issued a decisive notice on 6 February 2026 that reiterates a ban on cryptocurrency trading and services while extending strict controls to tokenisation of real‑world assets and offshore issuance of RMB‑pegged stablecoins. The measures mobilise an interagency enforcement apparatus and bar financial, internet and intermediary firms from supporting unauthorised crypto and RWA activities.
Big Recall, Local AI: China’s Auto Market Grapples with Safety and a New Wave of On‑shore Autonomy Training
FAW‑Volkswagen has recalled 206,012 domestically produced Audi Q2L cars over adhesive failures that can cause C‑pillar covers to detach. At the same time Tesla has activated a China‑based AI training centre to tailor driver assistance systems to local conditions. Together these developments illustrate the tension between fast localisation of manufacturing and the push to develop on‑shore AI capabilities for autonomy.
Wall Street's Rotation Lift: Dow Tops 50,000 as Nvidia and Chip Makers Rally
U.S. markets surged on Friday, with the Dow closing above 50,000 for the first time as chips and cyclical stocks led a broad-based rally. Nvidia and other semiconductor names jumped on expectations of increased AI data‑centre spending, while investors digested mixed signals on corporate capex and the Fed’s path amid delayed payroll data.
China’s EV Arms Race Heats Up: Xiaomi’s 1,000‑hp YU7 GT and a Wave of New Large SUVs from Li, Xpeng and BYD
China’s latest MIIT vehicle catalogue revealed several heavyweight models that underscore an intensifying competition across power, battery and charging technologies. Xiaomi unveiled a 1,003‑hp YU7 GT while AITO, Li Auto, Xpeng, BYD and Great Wall filed large SUVs spanning pure electric, range‑extender and plug‑in hybrid drivetrains.
China’s E‑Paper Champion Faces Regulator’s Scissors: Investigation and Asset Freezes Threaten Qingyue’s Survival
China’s securities regulator has opened a formal investigation into Qingyue Technology over alleged false financial reporting and has frozen key securities and fundraising bank accounts. The probe follows prior warnings about misuse of raised funds, undisclosed related‑party deals and a disputed export‑tax rebate, and raises the spectre of forced delisting amid weak industry conditions and strained company finances.
Wall Street Edges Up as Amazon’s $200bn Capex Shock Sends Storage Stocks Higher
U.S. stock indexes opened higher while Amazon tumbled over 9% after announcing a $200 billion capital expenditure plan, triggering investor concern. Storage suppliers such as SanDisk and Western Digital gained on expectations of increased demand from cloud and data-centre expansion.
China Declares All Crypto-Related Business Illegal, Bans RMB-Pegged Stablecoins Abroad and Tightens Mining Crackdown
China’s central bank and seven other ministries declared virtually all crypto-related business illegal, tightened rules on internet platforms and company registrations, and prohibited the overseas issuance of renminbi‑pegged stablecoins without approval. The coordinated notice widens enforcement to include platform takedowns, mining curbs and potential criminal prosecution, closing formal onshore channels for crypto trading and tokenisation.
From Badge to Bankbook: What JD’s First Courier Reveals About Labour, Welfare and Brand Strategy in China’s E‑commerce Boom
JD Logistics’ first courier, Jin Yicai, has retired with property, savings of over RMB1 million and a monthly pension of about RMB4,000, a profile JD has publicised to highlight its direct‑hire, welfare‑oriented logistics model. The story underscores JD’s strategy of higher labour costs in exchange for employee stability and brand advantage, contrasting with the outsourced, gig‑style labour common elsewhere in China’s parcel industry.
Bitcoin Reclaims $68,000 After Midweek Rout — Rebound, Not Relief
Bitcoin breached $68,000 on Feb. 6, extending a rebound after a sharp midweek sell‑off. The recovery reflects mechanical short‑covering amid high leverage, but volatility and liquidation risk mean the rally may be fragile.