Western companies warn of China rare-earth supply chain chaos

Western companies have warned that the renewed US-China dispute over rare earths materials will lead to “broken” supply chains and higher prices for chips, cars and weapons as industry executives plead for de-escalation between the two trading powers. China first introduced rare-earth export restrictions in April in retaliation for tariffs imposed by the Trump administration, causing delays with vehicle production and forcing western companies to stockpile materials. Last week, Beijing tightened those rules further, requiring foreign companies to get approval to export magnets that contain even trace amounts of China-sourced…

Europe’s 3-body problem: collapsing global order sparks hunt for new trajectory

Everywhere they look these days, Europe’s politicians see chaos. Advertisement The United States is helping to trash the global order it built in its image. China is pulling the rug from under efforts to upgrade European industry by weaponising its monopoly on critical minerals. Russia is waging a hot war at the European Union’s borders, with the growing danger that it may spill over. So tumultuous have things become, some officials have turned to Chinese science fiction to describe it. “Where we are now, we’re actually in a time of…

Samsung on track for highest profit in 3 years

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Samsung Electronics expects to post its highest operating profit in three years on the back of high demand for memory chips used in artificial intelligence, after several quarters of tepid growth fuelled concerns it was losing ground to rivals. The tech conglomerate on Tuesday said operating profit in the quarter ending in September was projected to rise more than 30 per cent compared with a year ago to Won12.1tn ($8.5bn),…

China and US held ‘working-level talks’ on Monday despite trade spat

Beijing and Washington conducted working-level talks on Monday despite a renewed escalation in trade tensions, China’s Ministry of Commerce has said, urging the US to “show sincerity for dialogue”. Advertisement “The US cannot engage in dialogue while intimidating and threatening to impose new restrictions. This is not the right way to deal with China,” the ministry said in a statement on Tuesday. “China urges the US to immediately correct its wrong practices and show sincerity for dialogue.” The two sides have maintained communication under the framework of a bilateral economic…

India to ease rules for diaspora investments in stocks

This article is an on-site version of the India Business Briefing newsletter. To receive it in your inbox regularly, sign up if you’re a premium subscriber, or upgrade your subscription here. Good morning. India’s retail inflation slowed to an eight-year low of 1.54 per cent in September. This is well below the central bank’s tolerance range of 2-6 per cent. How will this influence the rate decision in December? Send me your thoughts.  “Diaspora” is the keyword in today’s newsletter. The Indian watchmaker Titan is expanding its range of luxury watches…

China mass producing next-gen quantum radar detector to track aircraft like F-22

China announced it has begun mass producing the world’s first ultra-low noise, single-photon detector featuring four channels, suggesting that powerful applications loom in everything from daily communications to national defence. Advertisement Dubbed the “photon catcher”, the device can detect a single photon – the smallest unit of energy – making it a core component in cutting-edge technologies such as quantum communication and quantum radar for stealth aircraft detection and tracking. The feat was achieved by the Quantum Information Engineering Technology Research Centre in Anhui province and reported last Friday by…

What will Beijing’s next 5-year plan mean for Taiwan?

As China drafts its 15th five-year plan – the next entry in a line of expansive blueprints that have set the tone for the country’s development over more than seven decades – we examine the implications and opportunities for industrial collaboration across the Taiwan Strait. Advertisement For more stories in this ongoing series, click here. Last month on the outskirts of Beijing, a delegation of Taiwanese executives inspected gleaming new electric vehicles at a leading mainland Chinese manufacturer as they explored potential collaborations. The delegation included representatives from major companies…

UK’s MI5 warns politicians they are targets of Chinese and Russian spying

Britain’s domestic spy agency MI5 issued a rare public warning to members of parliament on Monday that they are being targeted by spies from China, Russia and Iran in an attempt to undermine the country’s democracy. Advertisement The warning comes a week after prosecutors said they had to abandon the trial of two British men charged with spying on members of parliament for China because the British government had not provided evidence showing China was a threat to its national security. MI5 warned politicians and their staff to look out…

Ministers say civil servant made evidence decisions in failed China spy case

The UK government has named its deputy national security adviser Matt Collins as being personally responsible for providing the witness statements linked to the collapse of an alleged China spying case. Dan Jarvis, security minister, said Collins “was given full freedom to provide evidence without interference”, prompting claims he was being used as a lightning rod for criticism of the government’s handling of the case. Sir Iain Duncan Smith, former Conservative leader, said that Jonathan Powell, national security adviser, should have been involved, while one leading security official said Collins…

Muddle over semantics or pressure from China? Collapsed spying case remains baffling

There is a baffling contradiction at the heart of the efforts of Dan Jarvis, the security minister, to explain why the prosecution of two Britons accused of spying for China collapsed last month. The problem, he insisted in front of MPs on Monday, was that “it was not the policy of a Conservative government to classify China as a threat to national security”. Except there is plenty of evidence to suggest that China was recognised as a threat by the previous governments in documents and public statements by ministers and…