Business News
Latest business news and updates
Total: 2066
When Efficiency Becomes a Rationale: Block’s AI-Driven Layoffs and the New Corporate Playbook
Block’s sudden axing of nearly 40% of its workforce is a clear example of companies embracing AI to restructure operations even when financially healthy. The decision crystallises a wider tension: investors reward efficiency gains, but rapid automation threatens consumption, customer trust and jobs, prompting urgent questions about policy and corporate responsibility.
Once a Fast-Growing Skewer Chain, Fengmao Faces Mass Closures After Ambitious Rebrand
Fengmao, a once-fast-growing Chinese skewer chain, has seen multiple store closures since December 2025 and employee reports of months-long unpaid wages in early 2026 after a controversial 2022 rebrand. The move from late-night street skewers to a pricier “meal-grade” positioning misaligned with consumer demand and regional tastes, exposing weaknesses in its standardized expansion model.
Judicial Auction Sells Nearly 6% of Pediatric Drug Firm as Creditors Move In
ST Huluwa, a Chinese paediatric drug manufacturer, saw 23.9 million shares (about 5.97% of equity) sold at a judicial auction after a major-shareholder pledge triggered creditor action. Buyers included private funds and individuals; Huluwa Investment remains the largest shareholder but its stake fell to 35.79%. The sale highlights acute liquidity, governance and regulatory problems at the company and the broader risks that share pledges pose in China’s markets.
Roborock’s Revenue Surge Masks Pain: Sales Up, Profits Down and Market Value Slashed
Roborock posted a 55.9% revenue increase for 2025 but saw net profit drop by 31.2% after margin pressure, higher sales expenses and losses from new product lines. Intensifying competition from DJI and appliance giants, combined with insider share sales and investor exits, has knocked the company’s market value down by roughly RMB 60–65 billion from its 2021 peak.
AMD Shares Slip Further as Chip Sector Wobbles, Decline Widens to 5%
AMD shares fell about 5% on March 3 amid a wider pullback in semiconductor stocks, even as some brokers maintain bullish price targets. The move underscores investor sensitivity to AI‑hardware demand, macro risks and sector rotation, leaving AMD vulnerable to near‑term volatility until clearer demand signals emerge.
Tech Stocks Drive a Risk-Off Session: Nasdaq Slides 2% as Gold Miners Also Tumble
U.S. markets opened sharply lower with the Nasdaq down about 2%, driven by broad tech weakness and marked selling in semiconductors. Unexpected declines in gold‑mining stocks compounded the rout, underscoring a generalized risk‑off mood across global markets.
NPC Deputy Proposes Longer A‑share Trading Hours and a National Independent‑Directors Association to Bolster Liquidity and Governance
NPC deputy Tian Xuan has proposed extending A‑share trading hours in stages and creating a national, non‑profit independent‑directors association under CSRC oversight. The twin measures aim to boost liquidity, attract foreign capital and professionalise corporate governance, but would require significant technical, regulatory and institutional work to implement effectively.
China’s HLA Blacklisted from Military Procurement, Putting Its Group‑Buy Engine and Cash Flow at Risk
China’s leading menswear retailer HLA was suspended from participating in all military procurement after refusing to sign a contract it had won. The sanction, which also penalises two company representatives, threatens the firm’s group‑purchase revenue stream, exacerbates existing margin pressure and signals stricter enforcement of procurement rules across China’s institutional supply chains.
Broad A‑Share Selloff Sees Shenzhen Index Slide Over 3% as Energy Stocks Stand Alone
Chinese A‑shares fell broadly on March 3, led by a more than 3% drop in the Shenzhen Component and steep losses across thousands of stocks, even as oil and gas names surged. Elevated turnover and weak breadth point to a liquidity‑driven unwind amid global risk‑off and sector concentration risks.
All‑in AI — on Employees’ Dime: How Firms Are Shifting Compute Costs onto Workers
Chinese companies’ push to “All in AI” is shifting costs from employers to employees as firms treat AI as a personal productivity tool rather than a corporate capital expense. That shift raises labour‑market questions about inequality, performance metrics tied to compute use and who ultimately owns the new means of production.
From Megvii's Ashes to a Geely-Backed Empire: Yin Qi's Bet on an AI+Car Closed Loop
Yin Qi has reconfigured his post‑Megvii career around a tightly integrated AI+automotive strategy, combining StepFun’s large models with Qianli/Geely’s hardware and distribution to create a commercial ‘‘closed loop.’’ Backed by state capital and big tech, StepFun has raised over RMB5 billion and aims for a near‑term listing, but its dependence on Geely creates strategic trade‑offs between fast deployment and independence.
Shenzhen Developers Slash Prices in Core District as China’s Property Downturn Deepens
Steep, symbolic price cuts at a central Shenzhen development highlight how China’s property downturn has moved into core urban districts. Despite repeated policy easing, structural headwinds — stagnant incomes, high household leverage and a falling population — are keeping demand weak and complicating recovery efforts.