Business News
Latest business news and updates
Total: 3047
Chinese Fund House Faces Scrutiny After Manager’s Poor Returns and Alleged ‘Misattributed’ Marketing
Puyin Ansheng Fund Management is under scrutiny after its Strategy Select fund lost 12.52% while promotional materials lauded returns that mostly predated the tenure of the named manager, Yang Fulin. The case highlights potential breaches of China’s rules on truthful fund advertising and raises broader concerns about investor protection and marketing practices in the rapidly expanding retail fund market.
China Pushes Auto Demand with Provincial Trade‑In Schemes as New EV Makers Rack Up Deliveries and Xiaomi Unveils Supercar Concept
Provincial rollouts of China’s 2026 vehicle subsidy and trade‑in rules aim to stabilise car demand and accelerate fleet renewal, with Shenzhen offering significant purchase rebates for NEVs and small petrol cars. February delivery figures show strong volumes from several new EV makers and mixed results among incumbents, while Xiaomi’s Vision GT concept and ADAS usage data underscore the sector’s technological pivot and intensifying competition.
Bitcoin Climbs Past $67,000 as Markets Show Renewed Appetite for Risk
Bitcoin surpassed $67,000 on March 2, gaining 1.87% intraday, a sign of renewed buying interest that highlights the cryptocurrency’s sensitivity to institutional flows and macro conditions. The rise is significant for market sentiment but carries the usual caveats about heightened volatility around key price levels and potential regulatory scrutiny.
China’s EV Upstarts Hit a February Cool Patch — Winners Lean on Networks and Incentives as Xpeng Stumbles
February deliveries among China’s electric vehicle newcomers cooled under a long Lunar New Year break and softer demand, producing divergent results. Leapmotor, Li Auto and NIO returned to roughly 20,000 monthly deliveries while Xpeng’s volumes halved, underscoring a market shift from volume to networks, software and international expansion.
Baidu Goes All‑In on AI After ¥16.2bn Write‑Down and 76% Profit Collapse
Baidu’s 2025 results exposed the costs of an urgent pivot: revenue slipped and net profit collapsed 76%, driven largely by a ¥16.2bn write‑down of obsolete compute assets. The company is reallocating around AI — reporting a fast‑growing ¥40bn AI new business — but faces intense competition, uncertain unit economics and the challenge of replacing evaporating search‑ad revenue.
Greg Abel’s First Letter: Berkshire’s Hand-Off Is Smooth, but Insurance Woes and a $373bn Cash Pile Pose Questions
Greg Abel’s first annual shareholder letter as CEO emphasised continuity as Berkshire Hathaway reported a drop in GAAP net profit to $66.97bn in 2025, while operating earnings fell to $44.49bn but remained above the five‑year average. Insurance underwriting weakness and a $4.5bn impairment offset steady performance from rail and energy units, leaving a $373.3bn cash reserve that poses both an opportunity and a challenge for future capital allocation.
Coconut-Water Star Struggles to Diversify: IFBH’s Revenue Rises but Profits and New Brands Falter
IFBH posted revenue growth in fiscal 2025 but saw attributable profit plunge by about 31.7%, highlighting a gap between strong demand for its if coconut-water brand and the failure of new product lines. The company’s asset-light model and distributor issues have left its attempted diversification — notably the Innococo electrolyte brand — struggling, exposing execution and scaling risks.
Coconut-Drink Maker’s Sexist Stunts Keep Backfiring: How Yeshui Treats Fines as Free Publicity
Yeshui Group sparked a fresh backlash after factory banners bluntly sexualised female employees and linked breast size to coconut juice. The incident continues a pattern of provocative campaigns that have repeatedly drawn fines and online condemnation, highlighting the costs of shock-driven marketing in China’s increasingly scrutinised consumer environment.
China’s EV Upstarts Hit a Chilly February — Winners Hold Ground, XPeng Slumps as Market Shifts from Volume to Tech
February deliveries among China’s new EV makers showed divergence: Leapmotor, Li Auto and NIO returned to roughly 20,000‑unit monthly ranges, while XPeng’s sales halved year‑on‑year. The slowdown reflects a long Lunar New Year holiday and fading tax incentives, but also signals a strategic pivot across the sector toward charging networks, AI features and global expansion.
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.