Business News
Latest business news and updates
Total: 3045
Canada Reopens Door to Chinese EVs with Limited Quotas — A Short Window for BYD and Other Exporters
Canada will issue a first tranche of 24,500 import permits for Chinese-made electric vehicles for March–August 2026 at a 6.1% MFN tariff, signalling a partial rollback of the 100% surtax imposed in October 2024. The quota scheme, phased through early 2027 and planned to expand toward 70,000 vehicles by 2030, rewards manufacturers already prepared for Canadian certification while leaving open political and regulatory risks.
Chinese Report Says Only ‘Native’ AI Platforms Can Cure Finance’s Hallucination Crisis
NewTimeSpace’s 2026 assessment introduces CMM‑GEO, a maturity model for AI search in finance, and finds most suppliers remain at inadequate L1/L2 tiers. Only L3 platforms that embed financial knowledge graphs, front‑loaded compliance and API‑first distribution can produce high‑volume, auditable outputs and convert AI exposures into business outcomes.
From AI Rally to Market Panic: South Korea's Stock Boom Snaps as Middle East Shock Triggers Triple Circuit-Breakers
South Korea's stock market, which surged on an AI-led rally earlier this year, experienced severe reversals in early March 2026 as renewed Middle East tensions and heavy foreign selling triggered multiple circuit-breakers. The won weakened to levels not seen since 2009, prompting emergency meetings at the Bank of Korea and raising concerns about the country's exposure to oil shocks and capital flight.
Wahaha’s Industrial Experiment Ends: Second‑Generation CEO Cuts Robotics Unit in Sharp Strategic Pivot
Wahaha has dissolved its precision machinery and robotics unit, terminating over 200 employees and closing a decade‑long industrial diversification effort led by founder Zong Qinghou. The decision, driven by second‑generation leader Zong Fuli, signals a strategic refocus on the beverage core amid fierce market competition and persistent losses in the smart‑equipment business.
Wang Jianlin Sells Another Wanda Mall as Builders Move In to Settle Bills
Wanda has continued to sell shopping centres in 2026, most recently a Shanghai plaza for about CNY 2.048 billion, while China State Construction’s engineering bureaus have increasingly taken ownership of former Wanda projects. These transactions often represent asset-for-debt swaps to settle unpaid construction bills and complicate Wanda’s planned shift to a light-asset, management-centric model. The pattern reveals both an urgent need to address large liabilities and a strategic risk: if Wanda cannot retain management roles on sold assets, its pathway to stable fee income and successful deleveraging is in doubt.
China’s Discount-Snack Shake‑Out: Regional Chains Face “Sell‑Out or Die” Moment
China’s discount‑snack retail sector has consolidated into two dominant groups, squeezing regional chains that now seek mergers, platform partnerships or sales to survive. A recent strategic alliance between regional chain Lingxia Youxuan and supply‑chain platform Huitongda exemplifies how mid‑sized players are trying to buy scale and down‑market access as competition intensifies.
Seoul Stocks Plummet: KOSPI Falls Sharply, Triggers 20‑Minute Circuit Breaker as Samsung Slides
South Korea’s KOSPI plunged about 8% on March 4, activating a 20‑minute circuit breaker; trading resumed as losses extended toward 9.1%, with Samsung Electronics falling over 8%. The episode highlights the market’s concentration risk and the potential for rapid spillovers from declines in a few dominant tech exporters.
Asian Equities Plunge: Nikkei Slides Below 55,000 as KOSPI Futures Trigger Circuit Breakers
Japan’s Nikkei 225 fell below the psychological 55,000 threshold, closing at 54,978.86 (down 2.31%), while South Korea’s KOSPI 200 futures plunged about 5%, triggering a five-minute halt to program trading. The moves coincided with sharp commodity price swings and broader risk-off sentiment across the region.
Hong Kong Targets Super‑Prime Homes with New Stamp‑Duty Hike as Market Booms
Hong Kong has raised stamp duty on residential sales exceeding HK$100 million from 4.25% to 6.5%, a targeted revenue measure expected to affect about 0.3% of transactions and raise roughly HK$1 billion annually. The increase arrives amid a robust recovery in the housing market—luxury transactions and primary‑market sales surged in 2025 and early 2026—so authorities expect only limited impact on the recovery while signalling a willingness to tax super‑prime wealth.
Tungsten Frenzy: Geopolitics Sends ‘War Metal’ Prices and A‑Share Valuations Skyward
Tungsten prices in China have surged more than 70–80% year‑to‑date after recent geopolitical shocks and persistent supply constraints, lifting A‑share tungsten producers to extreme valuations. The spike reflects the metal’s military applications and concentrated Chinese supply, but raises questions about the sustainability of profits and the risk of a market correction.
Thailand’s Derivatives Market Halts Index and Single‑Stock Futures Amid Regional Volatility
Thailand’s Futures Exchange has suspended trading in index futures, index options and single‑stock futures amid elevated market volatility. The halt aims to curb amplified risks from leveraged derivatives but temporarily disrupts hedging and liquidity in Thai markets.
China Midday: A‑Shares Slip as Liquidity Evaporates — Defence Stocks Buck the Downturn
China’s stock market weakened at mid‑day on March 4 as the Shanghai Composite fell over 1% and trading volume contracted sharply. Defence and a few energy and equipment niches outperformed, while shipping and coal stocks led the declines, highlighting a narrow, liquidity‑driven market downturn.