The Chevrolet display is seen at the New York International Auto Show on April 16, 2025.Danielle DeVries | CNBCWhile Tesla remains the No. 1 electric vehicle manufacturer in the U.S. by a wide margin, General Motors said on Tuesday it has secured the No. 2 position and believes it has an “inherent advantage” when it comes to EVs.Executives on GM’s quarterly earnings call on Tuesday said the company is focused on reaching and improving profitability for its EVs. When asked on the call about how GM aims to do that when Tesla is facing the same uphill climb, GM CFO…
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A person holds a smartphone displaying the logo of SAP, a German multinational software corporation known for its enterprise resource planning solutions.Cheng Xin | Getty Images News | Getty ImagesGerman software giant SAP said Wednesday that U.S. tariff tensions were slowing down its customers’ decision-making, but that the Japan trade deal announced Tuesday was cause for cautious optimism.”In some sectors which are most affected by these [policy] decisions, like public sector U.S. and also the very big manufacturing industrial companies with complicated global supply chains, there was the one or other large transaction which has slipped over the turn of…
U.S. President Donald Trump speaks to the media as he departs the White House on July 15, 2025 in Washington, DC.Anna Moneymaker | Getty Images News | Getty ImagesU.S. President Donald Trump has now set his sights on trade negotiations with the European Union, after announcing a framework agreement with Japan.”We have Europe coming in tomorrow, and the next day, we have some other ones coming in,” Trump said late on Tuesday, without specifying details.Pressure has ramped up on EU and U.S. negotiators to come to an agreement by Aug. 1, with the Trump administration appearing intent on not changing the…
Aerial view of a villager drying Chinese fan palm leaves on July 21, 2025 in Neijiang, Sichuan province of China.Vcg | Visual China Group | Getty ImagesThis report is from this week’s CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. Each week, we’ll explore the biggest business stories in China, give a lowdown on market moves and help you set up for the week ahead. Like what you see? You can subscribe here.The big storyChina’s economy requires more than short-term stimulus, even as deflationary pressures intensify.That’s the message from economists, including those at the…
Vehicles are assembled on a line at the BMW plant in Leipzig.Picture Alliance | Picture Alliance | Getty ImagesShares of Europe’s top carmakers rose on Wednesday after the U.S. and Japan’s blockbuster trade agreement raised hopes of a tariff breakthrough for other major exporters.In a post on social media platform Truth Social, Trump described the “massive” trade agreement as “perhaps the largest Deal ever made.”The deal is expected to mean U.S. tariffs on imported Japanese vehicles and parts will fall to 15%, a significant drop from the existing 25% rate that is levied across countries.Japanese Prime Minister Shigeru Ishiba welcomed…
China has kicked off construction on the world’s largest hydropower dam, and analysts expect the colossal undertaking to be a huge boost for hydro-equipment and materials suppliers. Chinese Premier Li Qiang launched the construction of the mega-dam, located on the eastern rim of the Tibetan plateau, that is expected to produce 300 billion kilowatt-hours of electricity annually — three times the size of the Three Gorges Dam — the world’s largest source of hydroelectric power. That capacity would be equal to 21% of China’s entire hydropower generation last year and around 2% of the country’s total power generation, according to…
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A line-up of Duck World’s flock of rubber ducks.Duck World | Duck WorldIf it looks like a duck, swims like a duck and quacks like a duck — then it could be one of the rubber specimens lining the shelves of Duck World, a string of colorful stores that are staying afloat as hundreds of other London retailers close their doors. Duck World’s 700-strong rubber flock comprises every size, dress and profession, with a store employee telling CNBC that popular models include the superhero-inspired “Spidy Duck” and the tourist favorite “Telephone Booth” duck. Some are fluffy, ceramic or change color, though not all…
The Commerzbank AG headquarters, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024.Emanuele Cremaschi | Getty Images News | Getty ImagesUniCredit on Wednesday posted a sharp second-quarter profit hike and lifted its full-year guidance, a day after withdrawing its takeover bid for Italian peer Banco BPM amid opposition from Rome.Italy’s second-largest bank reported a 25% year-on-year hike in net profit to 3.3 billion euros ($3.87 billion) in the second quarter when including one-off items, and 2.9 billion euros without them.UniCredit said it now expects full-year net profit to hit 10.5 billion euros, compared with previous guidance at…
The Merlion statue in the central business district of Singapore, on Tuesday, July 8, 2025.Bloomberg | Bloomberg | Getty ImagesSingapore’s headline inflation rate remained steady at 0.8% in June, staying at its lowest level in over four years.The inflation figure was lower than the 0.9% expected by economists, and comes ahead of the country’s monetary policy decision later in July.Core inflation, which strips out prices of private transport and accommodation, remained unchanged at 0.6%.The soft inflation figure clears the way for Singapore’s monetary authority to ease its monetary policy to support growth in an uncertain trade environment.In its recent annual…
