China Targets EU Dairy Subsidies In a significant escalation of trade tensions, China has initiated an anti-subsidy investigation into dairy products imported from the European Union. Announced by the Chinese…
Tag: business
Porsche Rescues Struggling Battery Maker Varta with Strategic Investment
Porsche to Acquire Major Stake in Varta Varta, the struggling German battery manufacturer, has secured a crucial lifeline by partnering with luxury carmaker Porsche. As part of a new agreement,…
BMW Recalls 1.3 Million Vehicles in China Due to Takata Airbag Risks
Massive Recall of BMW Vehicles in China BMW has initiated a recall of over 1.3 million vehicles in China due to concerns over Takata airbag inflators, a move following a…
Temu Founder Becomes China’s Wealthiest Amid E-commerce Boom
Colin Huang Tops China’s Rich List Colin Huang, the founder of Temu, has claimed the title of China’s richest person with a net worth of $48.6 billion, surpassing Zhong Shanshan,…
Sterling Faces Uncertain Future Amid Potential Rate Cuts
Sterling on Track for Longest Losing Streak in a Year The British pound is on the verge of its longest losing streak since last September, heading toward its fourth consecutive…
Siemens Surpasses Profit Expectations on Electrification Demand
Strong Profit Growth Siemens, the German tech giant, has reported a significant profit growth, exceeding analyst estimates. The company’s industrial profit for the third quarter of the year reached €3.3…
Novo Nordisk’s Earnings Trimmed as Rivals Seek to Enter Market
Disappointing Earnings Report Novo Nordisk, Europe’s largest pharmaceutical company, has missed earnings expectations in the second quarter due to growing competition and increased costs from capacity expansions. The company’s shares…
Glencore Abandons Plan to Sell Coal Business
Shareholder Consensus Glencore has scrapped its plan to sell its coal business after consulting with shareholders, who overwhelmingly supported keeping the company’s coal assets. The decision was influenced by the…
Euro Surges to Eight-Month High as Safe Haven Currency
Market Turmoil Boosts Euro’s Value The euro has surged to an eight-month high, fueled by market turmoil and investor uncertainty. The currency’s value has been boosted by its reputation as…
Swiss Government Admits to Pension Forecast Blunder
A Billion-Franc Mistake The Swiss government has made a stunning admission: it has miscalculated its pension forecasts, resulting in a deficit of around 4 billion Swiss francs (€4.2 billion) instead…