Business News
Latest business news and updates
Total: 2066
Buffett Hands Over the Helm — but Berkshire’s Cash and Culture Keep the Story Intact
Warren Buffett retired as Berkshire Hathaway’s CEO at the end of 2025, handing leadership to Greg Abel while remaining active as a shareholder and advisor. The annual report shows record cash of $373.3 billion, concentrated equity holdings in a few U.S. and Japanese companies, a drop in annual net profit, and a cautious stance on buybacks and dividends.
Chairman of Wuliangye, a 400-billion-yuan Icon, Placed Under Investigation — Another Shock for China’s Baijiu Giant
Zeng Congqin, chairman of Wuliangye, has been placed under disciplinary and criminal review by Yibin city authorities. The probe compounds an already difficult period for the baijiu maker, which posted steep year‑on‑year declines in 2025 as the broader liquor market contracts and distribution prices collapse. Investors and the market will watch leadership succession and governance responses closely as Wuliangye navigates a deep industry adjustment and a heightened regulatory climate.
Million‑Yuan Airfare for Damascus–Shanghai Flight Likely a Supplier Entry Error, Platform Says
An online ticketing app briefly showed a Damascus–Shanghai fare above 3.82 million yuan on February 28, which a platform source attributed to a supplier manual input error. Rapidly changing listings and the later removal of flights underline risks in marketplace models where suppliers set fares and platforms serve as intermediaries.
JD’s ‘Hundred‑Billion Supermarket’ Gamble: Trying to Win China’s Daily Basket
JD has launched a “Hundred‑Billion Supermarket” channel and pledged over RMB20 billion in subsidies to drive roughly RMB200 billion in incremental sales, signalling a strategic push into high‑frequency grocery retail. The initiative intensifies a cross‑platform scramble—Pinduoduo, Alibaba and Meituan are pursuing similar moves—where logistics, supply‑chain scale and the ability to sustain subsidies will determine long‑term winners.
Budweiser APAC’s China Problem: How the ‘Premium King’ Lost Its Foothold
Budweiser APAC’s 2025 results reveal steep declines in revenue, volume and profit, driven largely by loss of momentum in China. A shift in Chinese beer consumption from on-premise drinking to at-home and instant retail, coupled with aggressive up‑market moves by domestic rivals, has eroded Budweiser’s once-dominant position. The new China-born CEO has begun a product and channel reset, but 2026 is shaping up as the make-or-break year.
Luckin’s Delivery Surge Fades as Rapid Expansion Squeezes Q4 Profits
Luckin Coffee posted strong revenue growth in 2025 but saw fourth-quarter net profit fall nearly 40% as the delivery subsidy-driven boom faded. Rapid store expansion and rising material, rent and delivery costs exposed margin pressure, while intensifying competition and a pullback in platform subsidies pose risks to 2026 growth.
From Nasdaq Darling to Crisis: The Rise and Reckoning of Tea Chain Founder Zhang Junjie
Zhang Junjie’s tea chain rose rapidly to a Nasdaq listing and social prominence in 2025, but aggressive expansion, falling same‑store sales and a viral caffeine scare have since put the company under intense pressure. The episode underlines the challenges facing premium Chinese consumer brands: sustaining profitable growth, managing reputational risk on social media, and reconciling founder celebrity with corporate accountability.
Three Sheep Bets Its Comeback on Khaby Lame — Can 36 Months of Operating Rights Turn Global Fame into Sales?
Three Sheep has secured 36 months of exclusive global operating rights to Khaby Lame via a partnership tied to a small US-listed company, a move designed to jumpstart overseas growth after domestic setbacks. The arrangement sidesteps heavy-capital buys and IPO routes but hinges on the company’s ability to convert global influence into sustainable e-commerce revenues amid execution, market and governance risks.
Li Auto Keeps Up Momentum — February Deliveries Reach 26,421 as Cumulative Sales Top 1.59 Million
Li Auto reported 26,421 vehicle deliveries in February 2026, lifting its cumulative deliveries to 1,594,304. The figure signals continued demand for the company’s family‑oriented new‑energy vehicles, even as it contends with safety concerns and intensifying competition in China’s EV market.
Bitcoin Surges Near $68,000 Mark as Market Volatility Resumes
Bitcoin climbed to $67,674 on March 1, 2026, up 4.37% in 24 hours, recovering part of a recent fall below $64,000. The move reflects persistent volatility in crypto markets amid geopolitical and macroeconomic uncertainty and highlights ongoing risks tied to liquidity, leverage and regulatory actions.
Xiaomi Goes Supercar: Vision Gran Turismo Concept Debuts as Brand Raises 2026 Ambitions to 550,000 EVs
Xiaomi unveiled the Xiaomi Vision GT, its first Vision Gran Turismo concept, at a Barcelona event and will show it at MWC. The concept marks the company as the first Chinese brand and first tech firm to join the VGT programme, while Xiaomi pushes to scale deliveries to 550,000 cars in 2026.
When AI Is the Official Reason for Layoffs: How Block’s Cut Rewrites the Job Contract
Jack Dorsey’s announcement that Block will cut nearly half its staff and explicitly attribute the move to AI represents a turning point: profitable companies can now publicly justify large-scale layoffs on automation grounds. The market’s positive reaction and similar moves by major firms suggest a structural, not cyclical, shift in employment that erodes traditional entry-level pathways and disperses accountability for job loss.