The unlikely new rescuer of China's banks: the tobacco monopoly
China National Tobacco Corp. is deploying its massive cash reserves to stabilize struggling lenders, signaling deeper stress in the financial system.

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China National Tobacco Corp. is deploying its massive cash reserves to stabilize struggling lenders, signaling deeper stress in the financial system.
The media giant argues state attorneys general must post a massive bond to block its merger, a move courts have historically resisted.
A cash offer from ADQ, a unit of Abu Dhabi's L'imad wealth fund, has cleared the terms needed to take up to 100% of maritime operator AD Ports Group - here's what that means for Gulf infrastructure.
The Ministry of Finance is deploying 360 billion yuan across the country's largest state-owned financial institutions, a rare direct intervention that reshapes the risk picture for China watchers.
The sentencing of Sarah Khalifa and 11 others underscores the severity of Egypt's anti-drug laws and the exposure of public figures to capital punishment.
The Guardian's Simon Tisdall says analysts already call it a third world war, but the real power to change course lies with citizens, not autocrats.
Hui Ka-yan's sentence closes a debt saga, but unease persists for private developers as state-owned rivals circle.
The Mission Impossible host flips from crime commentator to death-row defendant in a sprawling narcotics trial.
The OpenAI CEO's reaction to Apple's lawsuit reveals a bigger problem: California's ban on non-competes leaves companies with no choice but to sue after the fact.
Hunan Satellite TV, a major state-owned broadcaster, airs a fully AI-generated classic adaptation, taking synthetic video from social media slop to prime time.
The company also boosted its own math scores and cut Anthropic's, raising questions about 'benchmaxxing' in AI evaluation.
A stronger-than-expected August jobs report just pushed Citigroup's expected Fed rate cuts back by months. Here's what that means for your borrowing costs.