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Shares in China’s biggest chipmaker drop on reports co-CEO has quit

Shares in China’s biggest chipmaker fell sharply after it said it was “verifying” reports that its co-chief executive had abruptly quit, in what would be the latest blow to the company following US sanctions. Semiconductor Manufacturing International Corporation’s stock fell as much as 9.8 per cent in Shanghai on Wednesday after

Asia plays the long game on Covid vaccine rollout

Asia has led the world in controlling the spread of Covid-19, but that very success has set the region behind the US and Europe in the race to vaccinate against the disease. In countries with limited coronavirus outbreaks, regulators have been happy to let westerners act as guinea pigs for hastily

China’s power is rising in an unstable world

The scourge of the coronavirus has exposed glaring weaknesses in capitalism and democracy all over the world. With wages for some stagnating and a growing digital divide, divisions in societies, and the gap between the haves and have-nots, have never been starker. While western countries flounder in the face of the pandemic

Congressional leaders inch closer to US stimulus breakthrough

US congressional leaders said they were closer to a compromise on economic relief legislation on Tuesday after several hours of intense negotiations as both parties faced pressure to prop up the country’s recovery. The talks that began in the late afternoon could prove pivotal for the fate of more fiscal

Push for homegrown imams stalls in Europe

At the top of a small building in Osnabrück, with only a tiny plaque denoting its name, sits Germany’s first school for imams. The Islamkolleg, in north-west Germany, is the cautious fruit of a decade’s efforts by Muslim scholars, including academic director Bülent Ucar, who have struggled to convince both

MSCI drops seven Chinese companies from indices

Index provider MSCI said it would drop seven companies that the US government has labelled as having ties to the Chinese military from its indices, after President Donald Trump barred US investors from holding stakes in such companies. MSCI said the seven — which included SMIC, China’s biggest chipmaker — would

FT People of the Year: BioNTech’s Ugur Sahin and Ozlem Tureci

In the 11 months since they devoted themselves to stemming the deadliest pandemic in over a century, Ozlem Tureci and Ugur Sahin’s precious few private moments have been spent exercising along deserted suburban streets near their home in the German city of Mainz, listening to ‘80s pop playlists. Deluged by paperwork

Spanish companies jostle for EU recovery fund billions

Spanish blue-chips including Telefónica, Iberdrola and Seat are positioning themselves for tens of billions of euros in EU coronavirus aid they hope will transform their industries and benefit their bottom lines. Spain expects to receive some €140bn from the €750bn EU coronavirus recovery fund, which leaders approved last week, making Madrid