Category: Business

A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system – a devastating prospect once considered far-fetched but now not impossible. Chinese officials and economists have in recent months been unusually public in […]

Stocks ticked down from six-month highs on Thursday on concern over a stalled U.S. economic relief deal, while oil fell and the euro edged up against the U.S. dollar. Treasury yields hit multi-week highs after record supply at a 30-year bond auction drew poor demand. Initial claims for U.S. state unemployment benefits dipped below 1 […]

European battery makers are gearing up to take advantage of massive “green” stimulus packages unveiled since the coronavirus pandemic though many acknowledge it will be tough to match the Asian giants that dominate the mainstream market. While Sweden’s Northvolt, and more recently France’s Verkor, are making a play for large-scale production, other European companies are […]

The Trump administration has filed a motion asking a court to dismiss a lawsuit against the president’s executive order targeting social media companies, calling it a “profound misunderstanding.” The lawsuit was brought in June by the Center for Democracy and Technology (CDT), a Washington-based tech group funded by Facebook Inc, Alphabet Inc’s Google and Twitter […]

China plans to merge domestic broker First Capital Securities (002797.SZ) with smaller rival Capital Securities, three sources said, underscoring Beijing’s determination to consolidate the brokerage industry to take on the giants of Wall Street. China wants to level the playing field as it opens up its financial markets to foreign players including Goldman Sachs (GS.N) […]

The European Union’s executive on Thursday acknowledged the United States’ decision not to exacerbate a 16-year-old dispute over aircraft subsidies by imposing fresh tariffs, and said it wanted to negotiate a solution to end the row. “The Commission acknowledges the decision of the US not to exacerbate the ongoing aircraft dispute by increasing tariffs on […]

U.S. electric truck maker Nikola NKLA.O said it was open to collaborating with Hyundai Motor (005380.KS) on hydrogen technology following a media report that it had reached out to the Korean automaker. In an interview with South Korean newspaper Chosun Ilbo published on Sunday, Trevor Milton, founder of Nikola Corp, said he would like to […]