Business News
Latest business news and updates
Total: 467
Tesla’s Turning Point: Profit Plunge and a $20bn Bet on AI as Energy Storage Emerges as the Unexpected Lifeline
Tesla’s 2025 results show a sharp slump in profits and the first annual revenue decline in the company’s history, driven by weaker automotive sales, aggressive price cuts and intensifying competition. Energy storage and services are growing rapidly and provide cash flow, while a $2 billion investment in xAI and continued bets on robotaxis and humanoid robots underpin a high‑risk, high‑reward strategic pivot.
Foxconn Industrial Internet Sees Profits Surge as 800G Switches and AI Servers Drive a Data‑centre Boom
Foxconn Industrial Internet expects a roughly 56–63% year‑on‑year jump in Q4 2025 net profit and a 51–54% rise for the full year, driven by explosive sales of 800G+ switches and AI servers. The results reflect a major upgrade cycle in Chinese data centres as cloud providers scale up capacity for large AI models, while also exposing the company to customer concentration and component‑supply risks.
China Stocks See Narrow, Resource-Led Rally as Growth Names Slip; ChiNext Ends Lower
Chinese markets closed mixed as resource and commodity stocks powered a narrow rally while growth and health-care sectors lagged. Heavy turnover and a broad list of declining stocks indicate the advance was concentrated in a small number of themes, raising volatility and regulatory risks for investors.
ASML to Cut About 1,700 Jobs as Chipmaker Rebalances After a Boom
ASML will cut about 1,700 jobs, mostly in technical and IT management roles in the Netherlands and some in the U.S., representing roughly 4% of its workforce. The reduction appears aimed at overhead trimming and organizational realignment amid a cyclical industry and geopolitical uncertainty, rather than at production capacity.
iFlytek Sees Net Profit Climb of 40–70% in 2025 as ‘Spark’ AI Model Drives Commercial Wins
iFlytek forecast 2025 net profit of Rmb785–950 million, a 40–70% increase, citing rapid deployment of its large‑model AI "Spark" and stronger government procurement. About Rmb300 million of the gain comes from non‑recurring government grants, so investors should separate one‑offs from recurring commercial momentum.
Xiaomi’s SU7 Ultra Drives Into Gran Turismo 7 — China’s EVs Enter the Global Racing Stage
Xiaomi will add its SU7 Ultra to Gran Turismo 7 on January 29, the first Chinese-brand car to appear in the GT series. The move is a strategic play to build international brand recognition, leverage gaming audiences, and position Xiaomi’s EVs as serious contenders in performance and design.
Amazon to Cut Nearly 16,000 Jobs as it Tightens Its Belt and Repositions for AI Era
Amazon has announced nearly 16,000 job cuts as it seeks to curb costs and redeploy resources toward cloud, advertising and artificial-intelligence initiatives. The move reflects a broader industry shift from pandemic-era expansion to a focus on profitability and automation, with implications for employees, customers and competitors.
Sichuan Probe of Veteran Tycoon Sends Three A‑Share Firms into Turmoil
Sichuan authorities have detained Xiong Haitao, the ultimate controller of three listed A‑share companies, prompting stock selloffs and reviving controversy over a disputed 2005 privatisation of Dongcai Technology's predecessor. The probe, led by the provincial supervision commission rather than the securities regulator, raises broader governance and contagion risks for Chinese markets and firms with opaque controlling‑shareholder structures.
Gold Surge and Sector Rotation Lift Hong Kong Stocks: Hang Seng Climbs 2.6% as Miners, Property and EVs Rally
Hong Kong stocks rallied on Wednesday, led by gold miners, property developers and electric-vehicle makers, pushing the Hang Seng up 2.58%. Spot gold hitting new highs drove a miners' rally even as investors cheered signs of regulatory easing for some developers and continued strength in domestic EV and semiconductor names.
A Slip of the Pen Exposes a Bigger Problem: Listed Environmental Firm Flags Fourth Year of Losses after Erroneous Forecast
Zhenghe Ecology corrected a typographical error in its earnings preview after initially misstating the forecast year, but the corrected guidance revealed a projected Rmb120–140 million net loss for 2025. The company, which has recorded losses since 2022, cited delayed revenue from Beijing projects, project settlement cuts and poor second-half collections; it also withdrew a Rmb129 million payment lawsuit earlier in December 2025.
Guangzhou Power Broker Arrested: Female Investor Who Built Control of Three Listed Firms Taken Into Custody, Clouding Corporate Empire
A high-profile Guangzhou investor, Xiong Haitao, who controls three A-share listed companies, has been detained and is under investigation, prompting simultaneous company disclosures and raising corporate-governance concerns. The arrest leaves ownership unsettled because a planned share transfer to a state-owned buyer is not yet registered, creating material uncertainty for the firms and their investors.
Gold Soars to Record Above $5,240 as Funds Halt Purchases; Silver, Miners and Exchanges Scramble to Manage Speculative Surge
Gold hit a record above $5,240 per ounce and silver spiked above $115 amid a weaker dollar, US political uncertainty and rising retail demand in China. Fund managers and exchanges have moved to curb flows and leverage — suspending subscriptions and raising futures margins — raising the risk of a volatile unwind.