Daily Buzz: 15 January 2026

Nvidia Sale of Chips to China Clears Final Hurdle, With Caveats

Nvidia sales of its advanced H200 chips to China cleared its final hurdle with US Department of Commerce approval. However, the approval comes with conditions. Nvidia will have to certify ample supplies of the chips in the US and exports can't exceed more than 50 percent of chips sold to US customers. Chinese buyers will have to demonstrate that the chips won't be used for military purposes. The Trump administration said it will take 25 percent of profits from the chip sales. It's not clear to what degree the Chinese government may allow domestic use of the Nvidia chips amid its ongoing campaign to develop self-reliance in semiconductors.

Greenland-US Talks Fail to Break the Ice

Danish Foreign Minister Lars Løkke Rasmussen said the security situation in the Arctic is "definitely" changing but the US doesn't need to take control of Greenland to address it. His comments came after he and Greenland Foreign Minister Vivian Motzfeldt held talks in Washington with US Vice President JD Vance and Secretary of State Marco Rubio. Rasmussen summed up the discussions as "we agreed to disagree." US President Donald Trump has said Greenland must be purchased, or, failing that, taken by military force, to safeguard the island from Russian or Chinese control. Greenland, an autonomous region under Danish sovereignty, has rejected the idea of US ownership. As a gateway to the Arctic, Greenland has attracted the attention of major global powers eager to control the northern sea lanes and mineral wealth accessible amid ice melt, but Rasmussen deflected US claims that China or Russia pose any immediate threat. He noted that Washington has reduced the number of US personnel based in Greenland from 10,000 to 200 since the end of the Cold War.

US Withdraws Personnel from Middle East Military Bases

The US began withdrawing some personnel from military bases in the Middle East, after Iran warned that it will hit American military installations in the region if the US attacks Iran. President Donald Trump continues to threaten military intervention in Iran to support protests that have erupted across the country, triggered by the skyrocketing cost of living. The death toll from more than two weeks of unrest is estimated in the thousands. Reuters quoted a Western military official as saying, "All the signals are that a U.S. attack is imminent." However, Trump signaled that US concerns may be easing, with intelligence reports indicating that deaths are subsiding and Iran has no plans for mass execution of detainees.

Washington Launches Second Phase of Gaza Peace Plan

The US said it is initiating the second phase of its Gaza peace plan even as the ceasefire agreed under Step 1 remains fitful amid continuing Israeli strikes, a last Gaza hostage yet to be returned and delays in humanitarian aid access. Phase 2 will set up a transitional, 15-member "Board of Peace" to administer Gaza. It will be overseen by the US and led by Ali Shath, former deputy minister of the Palestinian Authority, Reuters reported, citing mediators in Egypt, Qatar and Turkey. Shaath said in a radio interview that the committee will focus first on urgent relief aid for Gaza residents, many of whom are living in makeshift tent shelters amid the rubble of war.

Canadian Prime Minister Begins China Visit

Canadian Prime Minister Mark Carney arrived in Beijing on Wednesday for a four-day visit aimed at strengthening trade ties and repairing strained relations of recent years. The first visit by a Canadian prime minister in eight years includes talks scheduled with Chinese President Xi Jinping and other top officials "China is our second-largest trading partner," Carney said a day earlier. "A pragmatic and constructive relationship between our nations will create greater stability, security and prosperity on both sides of the Pacific." Canada's relations with the US, its largest trading partner, have soured since President Donald Trump took office.

South Korea Prosecutor Seeks Death Penalty for Ousted President

South Korea's special prosecutor is seeking the death penalty for former President Yoon Suk Yeol over his short-lived martial law declaration in 2024. Cho Eun-suk asked a court to impose that sentence as it wrapped up Yoon's trial. A ruling is expected on February 19. Yoon, who was ousted from office, is charged with leading an insurrection, a crime that carries the maximum penalty of death. He still maintains his innocence.

Top Business

Ronbay Secures US$17 Billion CATL Order

Ningbo-based battery materials maker Ronbay New Energy Technology said it signed a 120 billion yuan (US$17.2 billion) multiyear contract to supply Chinese electric battery giant Contemporary Amperex Technology (CATL) with 3 million tons of lithium iron phosphate used in making batteries for energy storage systems, among other industrial uses. Ronbay also said it will participate in the development of new CATL projects. It said demand for energy storage has increased as a surge in AI-driven technologies requires ever more electricity.

China Probes Trip.com for Monopoly Practices

China has opened an antitrust investigation into Trip.com, the country's largest online travel services provider, just weeks ahead of the Lunar New Year holiday when hundreds of millions of people travel. The State Administration for Market Regulation said preliminary findings indicate Trip.com and its various platforms abused their market domination to engage in "monopolistic practices." Reuters reported that companies breaching the nation's anti-monopoly law face fines of up to 10 percent of annual revenue. The probe is part of government efforts to rein in unfair competition.

Nvidia, Eli Lilly to Invest U$1 Billion in AI Drug Lab

US chip giant Nvidia and multinational drugmaker Eli Lilly will jointly invest US$1 billion over the next five years to build an AI-powered drug research lab in San Francisco. The project aims to merge Lilly's biomedical data with Nvidia computing power to accelerate research and development. Nvidia Chief Executive Jensen Huang said AI's most profound impact "will be in life sciences."

Lost Luster: Saks Files for Bankruptcy

The parent of Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus – US retail names once associated with the ultimate of luxury shopping -- filed for bankruptcy protection in one of the largest retail collapses since the coronavirus pandemic, Reuters reported. The US filing came after Saks Global tried to negotiate a US$1.75 billion refinancing package with creditors that include Chanel and Gucci owner Kering. Its collapse comes just a year after the three luxury department store chains were brought under the same corporate umbrella.

Economy & Markets

China's Strong December Exports Cap Record 2025 Trade Surplus

China's exports in December grew a faster-than-expected 6.6 percent from a year earlier, capping 2025 with a record annual trade surplus of US$1.2 trillion, up 5.5 percent from a year earlier. Imports in December increased 5.7 percent but were flat for the year. Stung by US tariffs on its goods in 2025, China shifted its focus to markets outside its once-largest market. Exports to the US in 2025 slumped 20 percent, shipments to Africa jumped 26 percent, exports to Southeast Asia rose 1 percent and EU-bound goods grew 8.4 percent. "With more diversified trading partners, China's ability to withstand risks has been significantly enhanced," Wang Jun, a vice minister at China's customs administration, told a press briefing on Wednesday. "The fundamentals for China's foreign trade remain solid." The Chinese government has pledged to expand imports and is also trying to shift more of the burden of economic growth to consumer spending from exports. But for now, "strong export growth helps to mitigate weak domestic demand," Zhiwei Zhang, chief economist at Pinpoint Asset Management, was quoted by Reuters as saying.

China Stock Exchanges Tighten Controls Over Margin Trading

China's stock exchanges tightened requirements for margin trading on Wednesday, aiming to moderate leverage in purchasing shares. The move comes as market volumes have risen to records and use of borrowed money to buy shares has increased. The stock exchanges in Shanghai, Shenzhen and Beijing lifted the minimum margin ratio for securities bought on margin to 100 percent from 80 percent. That means investors will be required to use more of their own funds when financing stock purchases. Margin trading allows investors to enhance their purchasing power by borrowing funds from brokers to acquire shares, sell short or trade derivatives. This leverage can amplify potential returns and also potential risks.

Deppon Shares to Delist in Shanghai

Chinese freight company Deppon Logistics announced it will delist from the Shanghai Stock Exchange next month after parent JD Logistics said it will acquire the 33 percent of the company it doesn't already own. JD Logistics is an arm of e-commerce giant JD.com. Deppon turned to a net loss of 276 million yuan (US$40 million) in the first three quarters of 2025.

Japan Stocks Hit Record on Snap Election Prospects

Japanese stock markets hit record highs for a second day on Wednesday amid expectations that Prime Minister Sanae Takaichi will call a snap election for February. She is riding a wave of popularity for policies that include a looser monetary policy and massive government spending to stimulate the economy. The first woman prime minister, often called "Japan's Margaret Thatcher," Takaichi replaced the unpopular Shigeru Ishiba in October. The next general election doesn't have to be held until October 2028. The benchmark Nikkei 225 index closed up 1.5 percent on Wednesday, crossing 54,000 for the first time.

Corporate

Dongfeng Clears Hurdle for EV Spin-Off

Chinese automaker Dongfeng Motor Group said it has received regulatory approval to proceed with a major restructuring that includes delisting from the Hong Kong stock exchange and spinning off its electric vehicle unit as a separately listed company. Under the reorganization, the Dongfeng premium electric vehicle brand Voyah will go public in Hong Kong, while the rest of the company will go private. Existing shareholders will receive HK$6.68 (85 US cents) in cash and 0.36 Voyah shares for each Dongfeng Motor share they hold, the company said.

Huawei Noses Out Apple as Top Mainland Phone Seller

China smartphone maker Huawei edged out Apple to reclaim the No 1 spot in the mainland market last year, according to International Data Corp. Huawei captured 16.4 per cent of China's smartphone market though shipments dropped 1.9 percent to 46.7 million units. Apple delivered 46.2 million iPhones for a 16.2 per cent market share. It was the first time Huawei held the top spot since 2020.

Coca-Cola Reportedly Drops Plan to Sell Costa Coffee

US soft-drinks giant Coca-Cola has abandoned plans to sell its UK-based Costa Coffee global chain after offers from private equity firms came in below expectations, the Financial Times reported. Costa Coffee has about 400 outlets in China, and Centurium Capital, a private equity firm backing Luckin Coffee, was earlier reported among the interested parties. Costa, like Starbucks, which sold a stake in its China operations last year, has suffered from slower mainland sales amid the rise of rival domestic coffeehouse chains like Luckin and Cotti.

NeuroXess Poised for Production of Computerized Brain Implants

Shanghai-based NeuroXess, a startup in the cutting-edge industry of brain-computer interface, said its new "superfactory" Jiangxi Province will go into operation in the second half of the year, allowing mass production of China's first fully implantable products. Brain-computer interface is pioneering technology that links electrical activity of the human brain with outside devices. One example are digital brain implants to help people with severe spinal injuries move robotic limbs. China is striving to catch up with Elon Musk's Neuralink brain-computer interface project. Yicai reported.

Wus Printed Circuit Unveils New Project

China's Wus Printed Circuit said it will invest US$300 million to develop and mass-produce high-density optoelectronic integrated circuit boards used in artificial intelligence computing and autonomous driving. The project will be developed in two phases in the city of Changzhou, with ultimate annual output of 1.3 million board.