Fed says Chinese bank can buy US lender
All three applications were approved after high-level talks last week between the United States and China. In those talks, which were overshadowed by a dispute involving a Chinese dissident, China agreed to let foreigners, including US companies, have bigger stakes in its securities firms and make other concessions designed to give foreign firms greater access to the US market.
Related: Cutting Out the Chinese Crap
That's what I'm doing, folks.
"Chinese firm buying US theater chain" by Joe McDonald | Associated Press, May 22, 2012
BEIJING — A Chinese conglomerate said Monday that it will buy US cinema chain AMC Entertainment Holdings, for $2.6 billion in China’s biggest takeover of an American company.
Maybe they can help improve the slop Hollywood has been shoveling lately.
Dalian Wanda Group’s purchase reflects the global ambitions of a wave of cash-rich Chinese companies that are using acquisitions to speed their expansion by obtaining foreign skills and brands.
Wanda said the deal would create the world’s biggest movie theater
operator. The Beijing-based company said it will invest an additional
$500 million to fund AMC’s development. AMC operates 346 cinemas, mostly
in the United States and Canada, and says it has 23 of the 50
highest-grossing US outlets.
Yeah, I DON'T WANT ANY MORE WAR TALK, 'kay?!!!!
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Wanna take in a movie, readers?
"Massachusetts firm in $1.25b deal in China; Start-up to build alternative energy project for partner" by Erin Ailworth May 21, 2012
A Massachusetts alternative energy start-up will announce Monday that it has finalized a $1.25 billion deal to build a plant in Western China to convert coal into synthetic natural gas, an agreement that underscores China’s growing hunger for power and the state’s position as a global center for energy technology.
The deal, one of the biggest yet for the state’s alternative energy industry, creates a partnership between GreatPoint Energy, a seven-year-old Cambridge company with just 30 employees, and China Wanxiang Holdings, an industrial conglomerate.
Wanxiang will take a $420 million minority stake in GreatPoint, one
of the largest investments by a Chinese company in an American firm
financed by venture capital, according to Ernst & Young, a Big Four
accounting firm that tracks such deals.
I don't want a war against a good customer, do you?
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Related: No More Evergreen in Massachusetts
But it's a good thing.
Also see: Electric cars might not carry the day for A123
On the other hand:
"Brother of Chinese dissident escapes from guarded village; Met with lawyers in Beijing; seeks freedom for son" by Andrew Jacobs | NEW york times, May 25, 2012
A brother of the blind legal activist Chen Guangcheng, whose decision to seek refuge in the US Embassy here after evading illegal house arrest prompted a diplomatic standoff between China and the United States, has slipped through the security cordon around his village and made his way to the capital, according to a lawyer who met him Thursday.
Please, really, cut the crap!
The brother, Chen Guangfu, said he came to Beijing to advocate on behalf of his son, who has been in police custody since attacking a group of plainclothes officers who broke into the family home in their search for Chen Guangcheng. He also said the family’s village in the northeastern province of Shandong has been subjected to the same severe restrictions that drove his brother to seek sanctuary.
Chen Guangfu, 55, a farmer and itinerant laborer, said he slipped out of the village Tuesday while his minders slept....
In addition to infuriating local officials, Chen Guangfu’s arrival in Beijing is likely to draw renewed attention to the plight of those who were left behind last weekend when Chen Guangcheng, his wife, and two children boarded a commercial flight for the United States. Their departure ended a three-week diplomatic impasse that had threatened to sour relations between the two governments.
Chen Guangcheng, 40, a self-trained “barefoot lawyer’’ whose legal fight against coercive family-planning policies earned him the enmity of local officials, is attending New York University Law School on a fellowship.
In remarks he made shortly before leaving China on Saturday, Chen Guangcheng said he was worried his relatives and the half-dozen activists who helped him evade security agents in Beijing would be punished.
Except for a brief news conference last Sunday upon his arrival in New York, Chen Guangcheng has remained out of public view. Friends say he and his wife are looking for schools for their children and trying to decide what to say to the news media - and whether their comments might hurt supporters back home....
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And then I saw they busted a guy trying to smuggle uranium-enriching equipment out of the country (probably to Iran, right?).
More: The Two Faces of China
My newspaper has about a thousand.
