Business News
Latest business news and updates
Total: 2067
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.
Xiaomi’s Vision GT: A Concept Supercar Debut that Rebrands a Tech Giant for the Global Stage
Xiaomi unveiled the Vision Gran Turismo concept supercar at a pre-MWC 2026 event, showcasing aerodynamic claims (Cd 0.29, CL/Cd 4.1), gaming-influenced cabin design, and deep integration with its consumer ecosystem. As the first Chinese brand invited into Sony’s Vision Gran Turismo project, Xiaomi used the concept to signal elevated design credentials and global ambitions, even as the car is unlikely to be produced at scale.
China Economist: Middle East Shock Favors Gold and Defence Over Oil for Long‑Term Investors
Haitong economist Zhang Yidong argues that recent Persian Gulf violence reflects a deeper global power reordering and will drive a strategic revaluation of assets. While oil and tanker markets may spike on risk, gold and defence stocks offer stronger long‑term allocation value amid sustained geopolitical uncertainty.
Chairman of Baijiu Giant Wuliangye Placed Under Disciplinary Probe, Raising Questions About SOE Oversight
Zeng Congqin, chairman and party secretary of Sichuan Yibin Wuliangye Group and its listed unit, is under disciplinary and supervisory investigation by Yibin’s discipline inspection commission. The probe raises questions about governance at one of China’s largest baijiu producers and may have political, market and operational repercussions.
Xiaomi Auto Grows Its Retail Footprint — Six New Stores Added in February as the EV Push Deepens
Xiaomi Auto added six new retail outlets in February as it deepens its move into China’s electric-vehicle market. The openings accompany the company’s emphasis on active-safety performance, large assisted-driving mileage and heavy staffing for safety work, signalling a shift toward a hybrid online-offline sales and service model.
China Tops ¥140 trillion GDP as 2025 Growth Holds — Tech, Consumption and ‘Unified Market’ Drive the Turnaround
China reported 5.0% GDP growth in 2025, surpassing ¥140 trillion in aggregate output as officials highlight technological upgrading, higher R&D intensity and stronger domestic circulation. The statistical communique frames the year as a successful close to the 14th Five‑Year Plan, while signalling continued policy support to manage structural adjustment and external uncertainty.
China at a Crossroads: GDP Tops RMB140 Trillion as a Leading Scientist Faces Terminal ALS and Bitcoin Slips Under $64,000
China’s economy crossed RMB140 trillion in 2025 with 5.0% growth even as Beijing tightened rules around graduate admissions and municipal authorities promoted EV replacement and e‑bike enforcement. The terminal‑stage illness of prominent researcher Cai Lei has exposed funding fragilities in biomedical research, while bitcoin’s drop below $64,000—amid controversy over a large U.S. seizure—added pressure to risk assets.
Laopu Gold’s 20–30% Price Shock Sparks Queue Mania, Resale and a Bid to Be China’s Next Luxury Name
Laopu Gold implemented a large 20–30% retail price increase that triggered massive online and in-store demand, queues and a small secondary market for orders. The episode underlines growing overlap between Chinese heritage gold brands and international luxury consumers while exposing risks from copycats, price volatility and possible demand fatigue.
As Copper Surges, China’s Self‑Proclaimed ‘Copper King’ Falls Silent — The Mystery of Wang Wenyin and Zhengwei
Copper prices have surged as supply disruptions and booming demand from electrification and AI strain markets. The rally has thrown into relief the fall from grace of Wang Wenyin and Zhengwei, whose sweeping claims to vast copper reserves are now clouded by legal enforcement, opaque asset claims and a prolonged retreat from public life.
Wanda Sells the Crown Jewels: Wang Jianlin Trims Assets to Buy Time
Wanda has accelerated the sale of mall properties, including the deeply discounted Zhuanqiao Wanda Plaza in Shanghai, to plug large near-term funding gaps. The disposals are part of a deliberate shift to a light-asset, operator-focused model, but heavy leverage and high refinancing costs mean the company remains vulnerable and dependent on investor tolerance.
China's Two-Speed Powerhouses: Why Jiangsu Is Closing In on Guangdong
Jiangsu narrowed the GDP gap with long‑time leader Guangdong to RMB 349.5 billion in 2025, driven by faster industrial growth and a broad, city‑level distribution of manufacturing clusters. Guangdong retains advantages in patents, corporate R&D and population inflows, leaving the contest a contrast between manufacturing scale and innovation concentration.
Back from Beijing, Germany’s Chancellor Sounds the Alarm on Productivity
After returning from his first official visit to China, Chancellor Merz warned that Germany’s productivity is inadequate and current work practices impede economic prosperity. His comments reflect concerns about competitiveness amid China’s rapid industrial mobilisation and signal potential pressure for economic and labour-market reforms in Berlin.