The Dali containership stuck under Baltimore’s collapsed Francis Scott Key Bridge may remain in place for weeks, blocking shipping at one of the U.S.'s busiest ports. Here’s what that means for major industry supply chains.
Among the facts TikTok’s lawsuit against the US government surfaced: billionaire ByteDance founder Zhang Yiming is living in Singapore while keeping Chinese citizenship.
STORY: An exclusive report for Reuters has found Huawei’s latest high-end phone features more Chinese suppliers than ever before. This includes a new flash memory storage chip and an improved processor, highlighting the progress China is making towards technological self-sufficiency. Online tech repair company iFixit and consultancy TechSearch International scrutinised the inside of Huawei’s Pura 70 Pro on behalf of Reuters. They found parts including a memory chip they said was likely packaged by the Chinese giant's in-house chip unit HiSilicon. These findings have not been previously reported, and Huawei declined to comment.Some memory chips for earlier models had been made by South Korea’s SK Hynix.Now Huawei’s resurgence in the high-end smartphone market after four years of U.S. sanctions is being watched closely as it has become a symbol of U.S.-China trade tensions. Huawei launched the Pura 70’s four smartphone models in April, and they quickly sold out.Analysts say it will likely take more market share from iPhone maker Apple, leaving Washington to question the efficacy of its curbs on the Chinese telecoms equipment giant.
‘Legit just went and ordered straight away,’ a TikTok fan says
They are cheaper to run. They can be simpler to manufacture. And of course, they are far better for the environment, playing a crucial role in hitting our targets to cut carbon emissions.
The chief executive of German luxury carmaker BMW on Wednesday warned the European Union's investigation into Chinese electric car subsidies runs counter to free trade.Oliver Zipse -- CEO of BMW, which has major investments in China, the world's biggest car market -- said that the Munich-based group "always strives for free trade".
Warren Buffett is known for his astute business practices and hardball negotiation tactics. His company, Berkshire Hathaway Inc., is one of the largest conglomerates and investment companies in the world. It has acquired dozens of companies over the years with over 75 wholly owned or controlled subsidiaries. It owns shares valued at billions of dollars in companies like Apple Inc., Amazon.com Inc., Mastercard Inc. and others. Buffett amassed his incredible portfolio and his company’s nearly $1 t
Eight drug companies that make the 10 medications whose prices are currently being negotiated by Medicare spent billions more last year on stock buybacks, dividends, marketing and administrative costs than they did on research and development, according to a report from Accountable.US, a left-leaning watchdog group. The report says that the eight companies — Johnson & Johnson, Amgen, AstraZeneca, Bristol Myers Squibb, Eli Lilly, Merck, Novartis and Novo Nordisk — spent $95.9 billion on research
China issued draft rules on Wednesday to regulate its lithium battery market, after rapid expansion in the sector hit industry profits and sparked concerns about overcapacity in international market. Rapid expansion of production capacity along the lithium battery supply chain has led to a plunge in prices for products including battery and raw materials, hitting companies' profits in the world's biggest market. U.S. Treasury Secretary Janet Yellen said during her trip to China last month that China is flooding global markets with cheap goods, particularly in the clean energy industries.
Oil giant Shell said on Wednesday that it has agreed to sell its Bukom refinery in Singapore - one of the world's largest oil refining and trading centres - to a joint venture of Indonesian chemicals firm PT Chandra Asri and global trading house Glencore, culminating a process that began last year. WHY IS SHELL SELLING ITS SINGAPORE "CROWN JEWEL" REFINERY?
Oil giant Shell said on Wednesday that it has agreed to sell its Bukom refinery in Singapore - one of the world's largest oil refining and trading centres - to a joint venture of Indonesian chemicals firm PT Chandra Asri and global trading house Glencore, culminating a process that began last year. WHY IS SHELL SELLING ITS SINGAPORE "CROWN JEWEL" REFINERY?
Robert Kiyosaki, best known for his "Rich Dad, Poor Dad" book series, offers personal finance lessons that challenge conventional advice about saving money, investing for the long term and...
High net worth individuals (HNWIs) are those who have at least $1 million in easily convertible assets like cash, stocks, and bonds. They often manage significant wealth across diverse portfolios. As per Empower’s financial dashboard, retirement accounts such as 401(k) plans and IRAs comprise 55% of total wealth for many HNWIs. This is a stark contrast to the median household. Pew Research Center reports that these accounts typically represent only 27% of the net worth of households where at lea
‘If you work in public relations, don’t expect weekends off,’ PR head says in now-deleted video
NEW YORK (Reuters) -Oil prices edged up to a one-week high on Thursday on data from China and the U.S. signaling demand in the world's two biggest crude-consuming nations could climb. "However, if Iran becomes emboldened by the U.S. stance and jumps back into the fray after keeping (a) low profile for weeks, then the market could rally back to multi-month highs," Yawger added.
WASHINGTON — President Joe Biden is warning that a new surge of cheap Chinese products poses a threat to American factories. There is little sign of one in official trade data, which show that Chinese steel imports are down sharply from last year and that the gap between what the United States sells to China and what it buys is at a postpandemic low. But the president’s aides are looking past those numbers and fixating on what they call troubling signs from China and Europe. That includes data s
Closing arguments for the largest antitrust trial to date against Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), also known as Google, wrapped up last week. Now, it's up to Judge Amit Mehta to decide on a ruling that could change the fate of the company and others in the big tech space. Mehta, of the U.S. District Court for the District of Columbia, is expected to come up with a decision before the end of the year. The case was put forth by the Justice Department in 2020, together with attorneys gen
TOKYO (Reuters) -Toyota Motor forecast a 20% profit decline in the current financial year on Wednesday, citing looming investment in both its suppliers and strategy after it delivered blockbuster fourth-quarter earnings. While Toyota has been boosted by a weaker yen, it has also been a big beneficiary of cooling demand for electric vehicles in some markets, such as the United States, where more customers are embracing petrol-electric hybrids, Toyota's traditional strength. Toyota expects operating income to total 4.3 trillion yen in the year to March 2025, a 20% decline, as it invests in "human capital" - including providing support for labour costs at suppliers and dealers - as well as in its multi-pathway strategy.
BENGALURU (Reuters) -Westlife Foodworld, the operator of McDonald's restaurants in west and south India, reported a 96% slide in fourth-quarter profit on Wednesday as inflation-weary consumers cut back spending on fast food even as franchisees tried to lure them with discounted prices. India's quick-service restaurants have struggled to attract customers in the face of sticky inflation and increasing competition from local players. Westlife said consolidated profit after tax fell to 7.6 million rupees ($91,012.8) for the January-March quarter from 200.9 million rupees a year earlier.
A barrister who advised the Post Office has told the inquiry into its IT system scandal that staff there defended Horizon with “an almost religious panic” and has claimed information was deliberately withheld from him.
Policymakers are focused on stimulating manufacturing and infrastructure, but people are more concerned about their livelihoods and home values.
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