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China's Chery Expands In Russia: A Strategic Move Amid Western Retreat And Broader Implications For The Global Automotive Industry

Nobel Prize Wins For AI Pioneers Highlight Big Tech’s Growing Influence And The Broader Implications For AI Development

Reader's Pick

World Bank's Record Climate Finance: Implications For Global Development 20/09/2024

Revisiting Liability Driven Investment: The Evolving Landscape Of UK Pension Funds Post-Crisis 06/10/2024

Global Oil Refining Industry Faces Profit Slump Amid Weak Demand And New Refinery Pressure 20/09/2024

UAE Aims For Economic Expansion With Strategic U.S. Partnership 21/09/2024

India’s Semiconductor Strategy Gains Momentum As Global Chip Demand Soars 23/09/2024

Latest Business News
China's Chery Expands In Russia: A Strategic Move Amid Western Retreat And Broader Implications For The Global Automotive Industry

China's Chery Expands In Russia: A Strategic Move Amid Western Retreat And Broader Implications For The Global Automotive Industry

Companies

China's Chery Automobile is rapidly expanding its presence in Russia, taking advantage of the vacuum left by Western carmakers who exited the country following Moscow's 2022 invasion of Ukraine. The company’s move to begin assembling cars in three former Volkswagen, Mercedes-Benz, and Nissan factories not only highlights China’s growing influence in Russia’s manufacturing landscape but also...
Nobel Prize Wins For AI Pioneers Highlight Big Tech’s Growing Influence And The Broader Implications For AI Development

Nobel Prize Wins For AI Pioneers Highlight Big Tech’s Growing Influence And The Broader Implications For AI Development

Markets

The recent awarding of Nobel prizes in chemistry and physics to artificial intelligence pioneers has reignited discussions about the growing dominance of Big Tech companies in AI research and the broader implications for the AI industry. This year's winners, many of whom are affiliated with Google, have raised questions about how such breakthroughs in computer science should be recognized and the...
Hyundai's Global Strategy And Indian Market Impact Amidst Upcoming IPO

Hyundai's Global Strategy And Indian Market Impact Amidst Upcoming IPO

Companies

Hyundai Motor India, the Indian subsidiary of South Korean automotive giant Hyundai, is preparing for its highly anticipated initial public offering (IPO) with a price range of 1,865 rupees ($22) to 1,960 rupees ($23) per share. This offering marks Hyundai’s first-ever listing outside South Korea and the first IPO by a carmaker in India since 2003. Set to raise $3 billion, this IPO has the...
The Rise And Global Challenges Of TikTok: From U.S. Lawsuits To Worldwide Bans

The Rise And Global Challenges Of TikTok: From U.S. Lawsuits To Worldwide Bans

Markets

TikTok, the popular short-video platform, has quickly grown into a global phenomenon, especially among younger audiences. However, despite its meteoric rise, the platform faces increasing scrutiny and legal challenges across the world. From its legal battles in the United States to outright bans in countries like India, TikTok's journey has been anything but smooth. These issues highlight both...
BP Shifts Focus Back To Oil And Gas Investments Amid Investor Pressure

BP Shifts Focus Back To Oil And Gas Investments Amid Investor Pressure

Companies

BP has decided to shift its strategy back toward oil and gas investments, abandoning its earlier target to cut output by 2030. This move comes as CEO Murray Auchincloss seeks to restore investor confidence following a significant drop in the company’s share price. Three sources with knowledge of the situation have confirmed that the firm is recalibrating its energy transition strategy to...
Samsung Electronics Faces Tough Market Conditions Despite Rising Profits

Samsung Electronics Faces Tough Market Conditions Despite Rising Profits

Companies

Samsung Electronics is set to announce a substantial increase in its quarterly profits, primarily due to rising demand for chips. However, industry experts warn that the company is struggling to capitalize on the rapid growth in the artificial intelligence (AI) sector, which could impact its long-term profitability. This upcoming financial report will be crucial in evaluating Samsung's current...
EU-China EV Tariff Row: Volkswagen CEO Advocates For Investment-Driven Tariff Adjustments

EU-China EV Tariff Row: Volkswagen CEO Advocates For Investment-Driven Tariff Adjustments

Markets

As the European Union (EU) moves forward with plans to impose tariffs on China-made electric vehicles (EVs), the debate over the best approach to the growing trade tension continues to intensify. Volkswagen’s CEO, Oliver Blume, has voiced his concerns, suggesting that instead of punitive tariffs, the EU should consider adjusting its approach to account for investments made by foreign carmakers in...
Revisiting Liability Driven Investment: The Evolving Landscape Of UK Pension Funds Post-Crisis

Revisiting Liability Driven Investment: The Evolving Landscape Of UK Pension Funds Post-Crisis

Markets

Two years after the turmoil that shook Britain's £2 trillion ($2.7 trillion) pensions industry, the financial strategy that contributed to that chaos—Liability Driven Investment (LDI)—is witnessing a resurgence in popularity among pension funds. However, industry providers assert that this time, the approach is being implemented with an emphasis on risk management and caution.   The crisis...
Industry Transformation On The Horizon: Rio Tinto's Potential Acquisition Of Arcadium And Its Implications For Lithium Supply Chains

Industry Transformation On The Horizon: Rio Tinto's Potential Acquisition Of Arcadium And Its Implications For Lithium Supply Chains

Companies

Rio Tinto is reportedly in discussions to acquire lithium miner Arcadium, a deal that could significantly reshape the lithium production landscape and position Rio as the third-largest producer of this critical electric vehicle (EV) battery metal. This move highlights the ongoing industry transformation as companies rush to secure resources essential for the electrification of transportation and...
Navigating Tensions: The EU's Trade Strategy Amidst Growing Economic Relations With China

Navigating Tensions: The EU's Trade Strategy Amidst Growing Economic Relations With China

Markets

The European Union's decision to implement substantial tariffs on Chinese-made electric vehicles (EVs) marks a significant turning point in its trade relations with China. This move, initiated by the EU executive, seeks to address concerns over alleged unfair subsidies from Chinese manufacturers, highlighting the complexities of the EU's trade strategy with one of its largest trading partners....
Stellantis' Profit Warning Highlights Broader Challenges In The Auto Industry

Stellantis' Profit Warning Highlights Broader Challenges In The Auto Industry

Companies

Stellantis NV, one of the world’s largest automakers, slashed its annual forecast and warned of greater-than-expected cash burn, citing intensifying industry challenges, rising costs in the U.S., and increasing competition from Chinese electric vehicle (EV) manufacturers. Stellantis' announcement on Monday aligns with recent profit warnings from several other European automakers, signaling...
ByteDance’s Growing Dependency On Domestic AI Chip Suppliers Amid U.S. Export Restrictions

ByteDance’s Growing Dependency On Domestic AI Chip Suppliers Amid U.S. Export Restrictions

Companies

In the wake of escalating U.S. trade restrictions on the export of advanced AI chips, ByteDance, the Chinese tech giant and parent company of TikTok, is increasingly turning to domestic chip suppliers, particularly Huawei Technologies. This strategic pivot underscores ByteDance’s drive to sustain and expand its artificial intelligence (AI) capabilities, despite challenges in accessing...

World

World Bank's Record Climate Finance: Implications For Global Development

World Bank's Record Climate Finance: Implications For Global Development
The World Bank Group announced on Thursday that it delivered a record $42.6 billion in climate finance during fiscal 2024, marking a significant 10% increase from the previous year's $38.6 billion....

Ukraine's Bold Kursk Incursion Shakes Russian Defense And Alters War Dynamics

Ukraine's Bold Kursk Incursion Shakes Russian Defense And Alters War Dynamics
Ukraine's recent incursion into Russian border territory has caused significant upheaval, revealing internal challenges within Russia's military and strategic command. This unexpected operation,...

US Treasury Secretary Yellen Says $3 Trillion A Year Is Required For Climate Funding, Much More Than What Is Now Available

US Treasury Secretary Yellen Says $3 Trillion A Year Is Required For Climate Funding, Much More Than What Is Now Available
The largest economic opportunity of the twenty-first century, according to U.S. Treasury Secretary Janet Yellen, is to close the $3 trillion annual capital gap that would arise from the world's...

Turkey Gets Taken Off The "Grey List" For Money Laundering By A Financial Crime Monitor

Turkey Gets Taken Off The "Grey List" For Money Laundering By A Financial Crime Monitor
In a significant vote of confidence for Turkey amid its attempts to revive its economy, the Financial Action Task Force, an international watchdog group devoted to preventing money laundering and...

Global Warming Causes The First 12-Month Period Above 1.5C

Global Warming Causes The First 12-Month Period Above 1.5C
According to the European Union's climate change monitoring service, the world just had its warmest January on record, making it the first 12-month period in which average temperatures were more than...

People

Trump Declines Further Debates As Harris Emerges As Debate Winner In Polls

Trump Declines Further Debates As Harris Emerges As Debate Winner In Polls
Republican nominee and former U.S. President Donald Trump announced on Thursday that he would not participate in a third presidential debate against his Democratic rival, Vice President Kamala...

Kamala Harris Targets GOP Economic Criticism With New Policy Proposals

Kamala Harris Targets GOP Economic Criticism With New Policy Proposals
Vice President Kamala Harris on Friday presented a comprehensive economic policy agenda aimed at countering criticisms from Republicans and addressing key middle-class concerns. Speaking in Raleigh,...

Musk Gives To An Organisation That Supports Trump's Election: Bloomberg

Musk Gives To An Organisation That Supports Trump's Election: Bloomberg
According to a Bloomberg story quoting sources, billionaire Elon Musk, who has been criticising US President Joe Biden more and more, has contributed to a political organisation that aims to elect...

New Study Finds People Who Were Class Bullies Could Make Higher Incomes In Their Middle Age

New Study Finds People Who Were Class Bullies Could Make Higher Incomes In Their Middle Age
A recent study challenges the widely held belief that school bullies would eventually get their comeuppance by indicating that they are likely to end up with greater earnings. The Institute for...

In A New York Corporate Fraud Lawsuit, Trump Slapped Fines And Interest Of $454 Million

In A New York Corporate Fraud Lawsuit, Trump Slapped Fines And Interest Of $454 Million
A New York judge ruled in the former president's civil business fraud trial on Friday, ordering him to pay a total of approximately $454 million in penalties.   According to an attorney...