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DETROIT – The chairman of Nissan Americas, Christian Meunier, said on Wednesday he is concerned that tariffs may drive already eye-popping vehicle prices even higher. “Cars are becoming completely unaffordable,” Meunier told Reuters. “It’s not fair for the middle class…
The interest rate for the most popular U.S. home loan jumped to 6.81% last week, its highest level in two months, following a turbulent week for financial markets as President Donald Trump pressed on with a deepening trade war. The…
SINGAPORE – Nvidia did not warn at least some major customers in advance about new U.S. export rules it was told about a week ago requiring it to obtain licenses to sell its China-focused artificial intelligence chip, according to two…
Australia’s top fuel retailer Ampol reported a 49% drop in first-quarter refining margins for its Lytton refinery in Queensland on Wednesday, citing weakness in refining profits in Singapore — a bellwether for Asia. The company said its Lytton refinery margin…
WASHINGTON -World Bank President Ajay Banga said on Wednesday he has had constructive talks with the Trump administration about the development lender but he did not know how much the U.S. would contribute to the bank’s fund for the world’s…
Chinese online marketplace Temu and fast-fashion retailer Shein will raise prices on their products next week as President Trump’s crackdown on low-value imports and sweeping tariffs increase expenses for the companies known for their low-priced offerings. In letters to customers…
The Trump administration is weighing penalties that would block China’s DeepSeek from buying U.S. technology and debating barring Americans’ access to its services, the New York Times reported on Wednesday.
JAKARTA -Indonesia will propose increasing its imports of crude oil and liquefied petroleum gas from the United States by around $10 billion as part of its tariff negotiations, energy minister Bahlil Lahadalia told local media on Tuesday. Indonesian officials are…
A look at the day ahead in European and global markets from Stella Qiu It’s been a sea of red in Asia so far on Wednesday, with new U.S. moves turning up the heat in the trade war with China,…
BEIJING -China appointed as its new trade negotiator on Wednesday a former representative to the World Trade Organization who replaces Vice Commerce Minister Wang Shouwen, amid an escalating tariff war with the United States. Li Chenggang, 58, a former assistant…
GUANGZHOU, China – The rapid rise of ultra-fast fashion retailer Shein has been so key to the fortunes of a group of urban villages on the outskirts of China’s southern metropolis of Guangzhou that they have been colloquially dubbed “Shein…
TOKYO – Honda Motor will shift production of its U.S.-bound five-door Civic hybrid model from Japan to Indiana, a company spokesperson said on Wednesday. Production of the model in the Yorii factory, near Tokyo, is likely to end in June…
HONG KONG – Hong Kong Post said on Wednesday that it would suspend its postal service for items containing goods to the United States, for air mail from April 27, and said that Hong Kong residents should be prepared to…
HONG KONG – Chinese electric vehicle maker Xpeng said on Wednesday that it had done a “thorough analysis” of its supply chain to ensure it would not be impacted by the current turmoil caused by U.S. President Donald Trump’s tariffs…
SHANGHAI – Chinese sellers of items from lunch boxes to appliances have taken to social media platform Rednote to generate sympathy purchases, telling domestic consumers they are offloading stock at bargain prices amid U.S. tariffs. Over the past week, dozens…
BEIJING – China’s economy grew 5.4% year-on-year in the first quarter, data showed on Wednesday, beating expectations, but an escalating trade war with the United States has darkened the outlook and raised pressure on Beijing to roll out more stimulus….
MILAN – Policy and regulatory choices in the United States and Europe, including tariffs and emission regulations, have placed the automotive industry under “extreme pressure”, Stellantis chairman said on Tuesday. “With the current path of painful tariffs and overly rigid…
BRUSSELS – The European Union is seeking a fair deal on tariffs with the United States, European Trade Commissioner Maros Sefcovic said on Monday, adding that this would require a “significant joint effort” on both sides. “In DC,… seizing the…
UNITED NATIONS – The U.N. Trade and Development agency urged U.S. President Donald Trump’s administration on Monday to exclude the poorest and smallest economies from reciprocal tariffs because it “would have minimal impact on United States trade policy objectives.” Trump…
DALIAN, China – When a Chinese pork producer filed for bankruptcy in 2019, the news came as a jolt to Alan Hill. The retired Apple executive from Albuquerque had invested about $100,000 last decade in Dalian Chuming Meat Processing through…
LONDON – Global investors have slashed their holdings of U.S. stocks by a record amount in the past two months, and think a trade war that triggers global recession is the biggest risk for markets, BofA Global Research said on…
BEIJING – China is tightening regulations on battery-powered vehicles and will require its automakers to comply with higher battery safety standards, aiming to reduce risks of fire and explosions in the fast-growing sector. The Ministry of Industry and Information Technology…
Nvidia said it plans to build an AI infrastructure worth as much as $500 billion in the U.S. over the next four years through tie-ups with companies, including Taiwan’s TSMC. The announcement on Monday comes amid a growing push to…
Americans’ expectations for near-term inflation hit the highest level since the fall of 2023 in March, amid a souring in the public’s assessment of their personal finances and hiring prospects, a report from the Federal Reserve Bank of New York…
OTTAWA – The Bank of Canada is likely to pause its rate-cutting cycle this week as rising inflation, weakened employment and U.S. President Donald Trump’s retreat from sweeping reciprocal tariffs have reduced the urgency of economic stimulus. Odds for a…
HONG KONG – China has been looking at allowing Western firms such as Citadel Securities and Jane Street to act as market makers in its rapidly growing exchange-traded fund (ETF) sector, two people with direct knowledge of the matter said….
BEIJING – No country should bypass international laws to authorise resource exploration in the seabed, China’s foreign ministry said on Monday, following a report of U.S. plans to stockpile deep-sea metals to counter China’s dominance in the sector. The Trump…
SAO PAULO – Carrefour Brasil’s gross sales in the first quarter including fuel totaled 28.8 billion reais ($4.93 billion), a 3.6% increase from a year earlier, the retailer said in a securities filing on Sunday. In a separate filling, Carrefour…
LONDON – Investment flows into Chinese physically backed gold exchange-traded funds so far this month have exceeded those for the whole of the first quarter and overtaken inflows registered by U.S.-listed funds, World Gold Council data showed. Gold ETFs in…
BEIRUT/AMMAN – Saudi Arabia plans to pay off Syria’s debts to the World Bank, three people familiar with the matter said, paving the way for the approval of millions of dollars in grants for reconstruction and to support the country’s…