Japan’s Toyota said Wednesday it will build an electric vehicle plant in Shanghai for its luxury Lexus brand as it raised its annual net profit forecast to almost $30 billion.China overtook Japan as the biggest vehicle exporter last year, helped by its dominance in EVs.Many foreign car firms are struggling in China, but Toyota — …
Nissan shares plunged on Wednesday after Japan’s Nikkei business daily said the carmaker had decided to withdraw from merger talks with rival Honda.The newspaper and other Japanese media had earlier reported that Honda had proposed making Nissan a subsidiary, instead of the previous plan to integrate under a new holding company.”Strong opposition” within Nissan to …
Nissan shares plunge as report says Honda merger talks off Read More »
China’s new tariffs on US imports like oil, coal and cars are relatively modest in scale, suggesting that Beijing is hoping for a last-minute deal but also giving them the option to inflict more pain if needed, analysts say.China on Tuesday fired a return salvo in its escalating trade war with the United States, slapping …
China holds out hope last-minute deal can avert US trade war Read More »
US President Donald Trump said Tuesday he was not in a hurry to speak with his Chinese counterpart Xi Jinping, despite expectations that they would hold talks after announcing tit-for-tat tariffs in a growing trade conflict.Beijing said it was imposing levies on imports of US energy, vehicles and equipment in a return salvo minutes after …
Trump in ‘no rush’ to speak with China’s Xi despite tariff battle Read More »
Asian markets stumbled Wednesday and gold hit a new record as investors kept tabs on China and the United States after they exchanged tariffs, sparking fears of another debilitating trade war between the economic superpowers.Shanghai, which reopened after a week-long break, and Hong Kong were among the main losers as e-commerce firms took a hit …
Asian markets stutter as traders weigh China-US trade flare-up Read More »
Honda shares surged on Wednesday as Japanese media said the automaker had proposed making its struggling rival Nissan a subsidiary — with some reports saying the move could spell the end of their merger talks.The companies agreed in December to launch discussions on joining forces to create the world’s third largest automaker, seen as a …
Honda shares jump on reports it wants Nissan as subsidiary Read More »
Australia has banned DeepSeek from all government devices on the advice of security agencies, a top official said Wednesday, citing privacy and malware risks posed by China’s breakout AI program.The DeepSeek chatbot — developed by a China-based startup — has astounded industry insiders and upended financial markets since it was released last month.But a growing …
Australia bans DeepSeek AI program on govt devices Read More »
Stock markets managed to push higher on Tuesday but investors braced for volatility as President Donald Trump pressed on with tariffs against China after delaying duties on Mexican and Canadian imports.Beijing said it was imposing levies on imports of US energy, vehicles and equipment after Trump’s 10 percent tariffs came into effect.But Art Hogan of …
Stocks recover but tariff uncertainty lingers over market Read More »
US President Donald Trump and Chinese counterpart Xi Jinping are expected to hold direct talks after announcing tit-for-tat tariffs in an escalating trade war, US officials said Tuesday.Beijing said it was imposing levies on imports of US energy, vehicles and equipment in a return salvo minutes after Trump’s threatened tariffs on Chinese goods came into …
Stock markets managed to push higher on Tuesday but investors braced for volatility in the coming weeks as President Donald Trump pressed on with tariffs against China after delaying duties on Mexican and Canadian imports.The hesitant trading came after heavy selling Monday following Trump’s weekend announcement of the tariffs, before later offering a reprieve for …
Stocks recover but US tariff threats keep gains in check Read More »
