Bloomberg Business

China’s big tech firms are feeling the pain of being late to the electric vehicle party.

Huawei Technologies Co.’s Mate 60 Pro smartphone employs an unusually high proportion of Chinese parts, in addition to its main processor, a sign of the country’s progress in developing domestic tech capabilities.

The Bank of Canada governor said recent evidence shows higher interest rates are working to slow the economy, and policy may be tight enough bring inflation to heel.

Qualcomm Inc., the world’s biggest supplier of smartphone chips, suffered its worst stock decline in a month after upheaval in China threatened the company’s sales in a critical market.

Boaz Weinstein and his group of bidders revised their offer to buy Sculptor Capital Management Inc., seeking to address some of the concerns the board’s special committee outlined last week, according to people familiar with the matter.

Oil prices dropped after a nine-session rally — driven by renewed production cuts from leaders of the OPEC+ alliance — propelled futures into overbought territory.

China plans to expand a ban on the use of iPhones in sensitive departments to government-backed agencies and state companies, a sign of growing challenges for Apple Inc. in its biggest foreign market and global production base.

One of Wall Street’s biggest stock-market pessimists dialed back his bearish forecast for the S&P 500 Index.

Canadian Prime Minister Justin Trudeau said there’s no room for “rapprochement” with China as President Xi Jinping’s muscular foreign policy has made a normal relationship between the countries impossible, for now.