Business News
Latest business news and updates
Total: 2060
GE Aerospace Pours Another $1 Billion into Production to Unclog a Global Engine Bottleneck
GE Aerospace will invest $1 billion in 2026 to expand engine production and overhaul capacity in the U.S. and continue funding its Suzhou, China facility. The package includes $200 million for LEAP durability kits and over $100 million to equip suppliers, a response to deep supply‑chain strain that has inflated airline costs and delayed fleet renewal.
Honda Pulls Back on North American EV Push, Warns of FY2026 Loss After Strategic Reassessment
Honda has cancelled development and planned North American launches of three battery-electric models following a strategic reassessment, and expects a consolidated loss in fiscal 2026. The decision reflects mounting industry pressure over EV profitability, competitive disruption and shifting market conditions, with immediate consequences for suppliers and regional production plans.
NPC Concludes as Oil Shock and AI Risks Jolt Markets — Beijing Votes Big While Global Volatility Rises
The 14th National People’s Congress closed after voting on major economic plans and laws, even as a Middle East‑driven oil shock and an unprecedented 400 million‑barrel IEA release roiled global markets. China signalled continued industrial prioritisation and regulatory attention to AI agents while capital rotated into Hong Kong ETFs and select technology names.
Google Pays $4.75bn to Buy Intersect, Moves From Power Contracts to Ownership in Clean Energy
Google has acquired wind and solar developer Intersect from TPG Rise Climate for $4.75 billion, taking on the company’s debt. The deal signals a shift by big tech from relying mainly on power purchase agreements to owning generation assets, aiming to secure long‑term, controllable clean power for energy‑intensive operations such as data centres and AI.
Founder Sells into Rally as Losses Mount: Shaanxi Heimao’s Chairman Realises ~RMB170m After Two Years of RMB2.2bn Deficits
Shaanxi Heimao’s founder, Li Baoping, sold 32.79 million shares in a block trade that realised about RMB170.8m after buying the same stock a year earlier for roughly RMB100m. The company, a coking producer, has reported two consecutive years of heavy losses totalling more than RMB2.2bn and faces industry-wide headwinds including weak coke prices, high input costs and structural overcapacity.
Mixed U.S. Open as Oracle’s Rally Lifts Nasdaq While Gold Miners Slump
U.S. markets opened mixed as a strong rally in Oracle—a result of an upward revision to its fiscal guidance—lifted the Nasdaq while the Dow edged lower and gold miners plunged. The session highlighted narrow market leadership and the potential fragility of gains if broader participation does not follow.
US Core Inflation Steady at 2.5% in February — Geopolitics Cloud the Outlook
US core CPI rose 2.5% year‑on‑year in February, in line with expectations, while monthly core inflation slowed to 0.2%. The numbers suggest gradual disinflation but leave the Federal Reserve with an ambiguous signal, especially amid geopolitical risks that could quickly alter the outlook.
Shenzhen Stock Exchange Reports First Fall in Average Pay Since 2019 as Wage Bill Shrinks
Shenzhen Stock Exchange reported a drop in average pre‑tax annual pay to RMB 484,900 in 2024, an 8.63% decline year‑on‑year and the first sub‑RMB 500,000 average since 2019. Total wage payments fell despite a higher headcount, while senior executives’ disclosed pay remained modest by international exchange standards.
From Patents to ‘Astroturf’: Ecovacs and Dreame Make China’s Robot‑Vacuum Rivalry Public
Ecovacs and Dreame, China’s leading robot‑vacuum makers, have escalated a year‑long dispute from patent litigation to public accusations of organised online smear campaigns. The confrontation reflects deeper strategic differences—Ecovacs’ domestic dominance versus Dreame’s export‑led growth—and signals a broader shift in how market share is contested in the smart‑home sector.
Beijing Summons Maersk and MSC After Gulf Surcharges — A Warning That Could Ripple Through Global Shipping
China summoned Maersk and MSC executives to protest emergency surcharges and route suspensions following disruptions in the Strait of Hormuz, and signalled it may take further measures to protect trade stability. The meetings come amid a related Panama port dispute involving Chinese companies and highlight the growing politicisation of global shipping.
Musk Nears Trillionaire Club as Global Billionaire Wealth Surges to $20.1tn; Zhang Yiming Tops China
Forbes’ 2026 billionaire list shows a record $20.1 trillion in combined billionaire wealth, driven largely by AI-fueled market gains. Elon Musk tops the list at about $839 billion and may be the first to reach $1 trillion if current trends persist, while ByteDance founder Zhang Yiming is the richest person in China.
Foxconn’s Server Unit Rides an AI Boom — But Cash and Margins Tell a Cautionary Tale
Foxconn Industrial Internet posted blockbuster 2025 results as AI-server demand sent cloud-revenue soaring, but thin gross margins, a heavy reliance on purchased materials and weak cash conversion expose risks. The firm is scaling globally—especially in Mexico—and paying record dividends even as R&D intensity falls and financing fills the cash gap.