Top News
France faces renewed political paralysis
French Prime Minister Francois Bayrou was ousted in a parliamentary no confidence vote, returning the country to political paralysis in a government where no bloc – left, right or center – holds a majority. Bayrou's downfall came after he staked his premiership on addressing France's 3.4 trillion euro (US$4 trillion) government debt. He proposed a freeze on welfare payments, the scrapping of two national holidays and other austerity measures to save 44 billion euros next year. French President Emmanuel Macron can try to name a new premier – his fifth in two years – who is acceptable to at least part of the fractious National Assembly or call new elections.
Israel blames 'terrorists' for Jerusalem attack, Trump has new ceasefire plan
Six people were killed in Jerusalem and 12 injured when two gunmen opened fire at a crowded bus stop. Israeli officials said the two perpetrators, which it called "terrorists," were killed when a security officer and civilian returned fire. Hamas praised two Palestinian "resistance fighters," who it said carried out the attack, but stopped short of claiming responsibility. Finance Minister Bezalel Smotrich said the "abominable attack will have the most severe and far-reaching consequences."
The violence comes as the Trump administration proposes a new ceasefire plan to release all 48 or so Israeli hostages, both dead and alive, still in Gaza. Although no specific details were released, Israeli media have reported that up to 3,000 Palestinian prisoners held in Israeli jails might be released in exchange. President Donald Trump issued what he called his "last warning" to Hamas to accept a deal for release of the hostages, and Israeli defense minister Israel Katz warned that Gaza faces a "mighty hurricane" if the hostages aren't freed. Israeli officials again urged residents of Gaza City to leave the enclave's most populous area as a major military offensive there continues.
Top Business
JNBY Design posts increased full-year profit and revenue
Hangzhou-based international fashion retailer JNBY Design, whose name embodies its fashion motto "Just Naturally Be Yourself," said revenue in its fiscal year ended June 30 rose 4.6 percent from a year earlier to 5.55 billion yuan (US$770 million). Net profit increased 5.3 percent to 893 million yuan, or 1.74 yuan a share. Gross profit margin fell slightly to 65.6 percent. In an outlook statement, the company said the Chinese mainland, its major market, continues to show a resilient economy, with stabilized consumer confidence. The Hong Kong-listed company, which has ranked in the world's Top 10 fashion brands for customer loyalty, sells apparel mainly to distributors but also in 2,117 global outlets and online.
Tether weighs investments in gold mines
Tether, the world's largest stablecoin issuer, is weighing investments in gold mining as its bullion reserves climb to US$8.7 billion, the Financial Times reported. The company has held talks with miners, refiners, traders and royalty firms, including Terranova Resources, a British Virgin Islands-based mining group, though no deal has been concluded yet. In June, Tether spent about US$82 million to buy a 38 percent stake in Toronto-listed Elemental Altus Royalties Corp, securing rights to raise its holding above 50 percent. Tether Chief Executive Paolo Ardoino, a long-time gold advocate, has called the metal more reliable than any national currency.
China Unicom wins satellite license
China Unicom has received a license to operate satellite mobile communication services, the Ministry of Industry and Information Technology said. The approval allows the carrier to launch direct-to-phone satellite services and expand applications in emergency response, maritime links, and remote areas. The move comes as China accelerates commercialization of satellite mobile communications, which could foster competition and broaden service availability to ordinary users. Tighter integration between telecom operators and satellite firms is also expected. The ministry pledged further reforms in market access and regulatory oversight.
Economy & Market
China exports rise despite plunge in shipments to US
China's exports rose in August at a slower pace than in July as shipments to the US, its largest single country market, fell. Global exports were up 4.4 percent from a year earlier to US$322 billion, compared with a 7.2 percent year-on-year gain a month earlier. Imports in the latest month rose up 1.3 percent, slowing from 4.1 percent in July. China's shipments to the US plunged 33 percent to US$283 billion, and exports to the EU block totaled US$541 billion. In the first eight months of the year, Southeast Asia remained China's largest regional partner, with bilaterial trade rising 4.9 trillion yuan (US$691 billion), accounting for 17 percent of China's total.
US counts losses of possible adverse tariff ruling
The US could lose at least US$750 billion if the Supreme Court rules that Trump administration reciprocal tariffs are illegal, Treasury Secretary Scott Bessent said in a statement filed with the court urging an expedited decision. The figure includes more than US$72 billion already collected and would need to be repaid and projected tariff revenue through next June 30.
China stocks mixed in volatile trade
Chinese equities ended mixed on Monday after a volatile session, with the benchmark Shanghai Composite rising 0.38 percent and the Shenzhen Component adding 0.61 percent. The ChiNext board fell 0.84 percent. Total volume across Shanghai and Shenzhen exchanges reached 2.42 trillion yuan (US$339 billion), rising 114 billion yuan from the prior session. Over 3,900 of 5420 listed companies posted gains. Robotics shares surged, with Sanhua Intelligent Controls hitting the daily market limit. Solid-state battery makers and chip stocks also advanced. Gains in technology and healthcare shares were partly offset by losses in financials, retail and computing power.
Corporate
Alibaba Cloud leads funding round for X Square Robot
Alibaba Cloud led a US$100 million funding round for Chinese humanoid startup X Square Robot, the eighth injection of financing for the Shenzhen-based startup founded in 2023. X Square Chief Operating Officer Yang Qian told CNBC that the new round brings total investment to about 2 billion yuan (US$280 million). Among other investors in the new round were HongShan, Meituan and Legend Capital. "Right now, we need robots to operate and complete complex tasks autonomously," Yang said of the company's goals.
Xpeng to introduce its Mona models overseas
Chinese carmaker Xpeng said it plans to launch its mass-market electric Mona brand in overseas markets next year. Chief Executive He Xiaoping told CNBC that Xpeng's international expansion is moving faster than he expected and the company is open to acquiring other electric carmakers. Xpeng launched its Mona M03 coupe in China last year, with a starting price of 119,000 yuan (US$ 16,690).
CATL unveils new Shenxing Pro series batteries for European market
China's Contemporary Amperex Technology Co (CATL), the world's largest maker of batteries for electric cars, launched its new generation of batteries, called Shenxing Pro, for the European market. The longer-life batteries are designed to last for up to 12 years and offer a top driving range of 758 kilometers before needing recharge.
Chery Auto progresses toward Hong Kong listing
Anhui Province-based Chery Automobile passed the stage of a listing hearing in the process toward an initial public offering in Hong. The company plans to sell 699 shares but hasn't released pricing details. Industry analysts have predicted the IPO may seek to raise US$1.5 billion. Chery Auto is the only unlisted company among China's top-selling domestic car manufacturers. In the first half of 2025, the company reported overall sales exceeding 1.26 million units, a 14.5 percent increase from a year earlier.
FAW spinoff automaker Bestune secures new investment
FAW Bestune, a sedan maker spun off by Chinese automotive giant FAW Group five years ago, completed an 8.5 billion yuan (US$1.2 billion) financing round, Yicai reported, citing an announcement to the Beijing Equity Exchange. Aside from the parent company and existing stakeholder Yueda Automobile Group, companies participating in the funding round included Agricultural Bank of China, China Telecom and Horizon Robotics. The money raised will be used for research and development of new energy technologies.
Zeiss celebrates first year of Suzhou microscope factory with doubled sales
German optics company Zeiss said revenue from its new factory in Suzhou, the world's largest shipper of high-end microscopes, doubled in its first year of operation, but gave no figures. Company officials at an event marking the facility's first-year anniversary said the China market remains pivotal to its future business. Zeiss also operates another factory in the city turning out eyeglasses and medical equipment.