A store in a shopping mall in Beijing on Aug. 7, 2024. Pedro Pardo | Afp | Getty ImagesFierce price wars in China are hitting industries from cars to food deliveries to solar panels, squeezing profits and worsening the country’s deflationary slide. Though consumers may be lured by ultra-cheap deals, the trade-offs for them are more complicated than they might seem.Since the pandemic and amid the ongoing housing slump, Chinese consumers have grown more price-sensitive, focusing on value and cutting non-essential spending. To stay competitive, carmakers have rolled out steep discounts and slashed prices — helped by government subsidies —…
Author: usaeverydaylife
The Huawei booth at the Mobile World Congress in Barcelona, 2025.Arjun Kharpal | CNBCDespite being beaten down by years of U.S. trade restrictions, China’s telecom giant Huawei has quietly emerged as one of the country’s fiercest competitors across the entire AI landscape. Not only does the Shenzhen-based firm appear to represent Beijing’s answer to American AI chip darling Nvidia, but it has also been an early adopter of monetizing artificial intelligence models in industrial applications. “Huawei has been forced to shift and expand its core business focus over the past decade… due to a variety of external pressures on the company,” said…
The People’s Bank of China (PBOC) building in Beijing, China, on Tuesday, April 18, 2023. Bloomberg | Getty ImagesChina kept its benchmark lending rates steady on Monday as the country continues to grapple with weak consumer sentiment and softening growth.The People’s Bank of China held the 1-year loan prime rate at 3.0% and the 5-year LPR at 3.5%.LPR, normally charged to banks’ best clients, is calculated based on a survey of dozens of designated commercial banks that submit proposed rates to the central bank.The 1-year LPR influences corporate and most household loans in China, while the 5-year LPR serves as a…
A JPMorgan Chase & Co. Wealth Management sign in New York, U.S., on Thursday, July 10, 2025.Gabby Jones | Bloomberg | Getty Images Friday, Aug. 1 — the “hard deadline” of U.S. President Donald Trump’s updated tariffs — is less than two weeks away. Investors, however, seem mostly unbothered thus far. For last week, while the Dow Jones Industrial Average dipped marginally, the S&P 500 and Nasdaq Composite rose 0.6% and 1.5% respectively.Even a report that Trump wanted a minimum of 15%-20% tariffs on the European Union only dealt a minimal blow to markets, which mostly closed unchanged Friday. Although…
An off-duty Customs and Border Patrol agent was shot in New York City’s Riverside Park late Saturday in an alleged robbery that did not appear to target him because of his job, police said.Miguel Mora, 21, is being investigated as a person of interest in the attempted robbery and shooting, New York Police Commissioner Jessica Tisch said at a news conference Sunday. He was hospitalized with gunshot wounds investigators believe he sustained during the incident but was expected to be arrested later Sunday, Tisch said.Two law enforcement sources told NBC News that the encounter appeared to be random and that…
Chinese electric vehicle brands Neta and Zeekr inflated sales in recent years to hit aggressive targets, with Neta doing so for more than 60,000 cars.Koiguo | Moment | Getty ImagesChinese electric vehicle brands Neta and Zeekr inflated sales in recent years to hit aggressive targets, with Neta doing so for more than 60,000 cars, according to documents reviewed by Reuters and interviews with dealers and buyers.The companies arranged for cars to be insured before they were sold to buyers, the documents show, enabling them under Chinese industry car registration practices to book sales early so they could hit the monthly and quarterly targets, the dealers and buyers said.Neta booked early sales of at least 64,719 cars through this method…
Conventional wisdom holds that as we get closer and closer to the coming deadline for tariff resolution, the market will become more treacherous, especially for highly valued stocks. I don’t know who writes these stories. I always check the bylines and I have never worked with them or hired them. I will tell you this: their lack of knowledge of how the market works is painful. Their shoddy knowledge of market history would never be tolerated in any classroom. They are, what we used to call at The Harvard Crimson, “filler-up stories,” meaning stories that had to be written because copy…
Here are the opening calls for the day Good morning from Singapore.Investors will be keeping a close watch on the People’s Bank of China’s decision on its 1-year and 5-year loan prime rates for July expected later in the day.Futures for Hong Kong’s Hang Seng index stood at 24,883, pointing to a stronger open compared with the HSI’s Friday close of 24,825.66.Australia’s S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,688, compared with its last close of 8,757.20.Japanese markets were closed for a public holiday.— Amala BalakrishnerU.S. futures little changed in early Asia hoursFri, Jul 18…
Traders work on the floor at the New York Stock Exchange in New York City, U.S., July 15, 2025. Jeenah Moon | ReutersU.S. stock futures were little changed Sunday night as investors tracked the latest developments on trade, and awaited the start of big tech earnings this week.Dow Jones Industrial Average futures fell by 18 points, or 0.04%. S&P 500 futures gained 0.02%, while Nasdaq 100 futures traded flat.Trade was once again in focus as the White House reiterated its position on tariffs. On Sunday, U.S. Commerce Secretary Howard Lutnick called Aug. 1 the “hard deadline” for countries to start…
The U.S. aims to pare the G20 back to its financial roots next year when it takes over the rotating presidency from South Africa, Reuters reported. Source link
