Business News
Latest business news and updates
Total: 2060
Oil Surges Past $110 as Middle East Tensions Spike; Gold Retailers Hike Prices and China Tightens Market Rules
Oil prices surged above $110 a barrel on March 9 as renewed Middle East tensions and precautionary production moves rattled markets. Chinese gold retailers raised retail prices, regulators clarified exemptions on insider short‑swing trading to stabilise equities, and a viral open‑source AI agent drew cybersecurity warnings.
China Stocks Open Lower as Investors Flock to Energy Amid Oil and Gas Price Shock
Chinese stock indices opened lower on March 9 as investors rotated into energy and commodity sectors amid a sharp rise in international oil and gas prices. Growth and specialty segments underperformed, reflecting risk-off sentiment driven by supply concerns and impending regulatory changes on short-term trading.
Domestic Upset: AITO M9 Tops China’s EV Resale Rankings as Low Residuals Shadow Market
China’s February 2026 NEV residual-value report shows domestic models leading short-term resale charts: AITO’s M9 tops both one-year pure-electric and plug-in hybrid lists. Yet the sector faces a wider headache as three-year retention for NEVs remains well below that of petrol cars, driven by fast tech obsolescence, high battery costs and aggressive new-car pricing.
Dubai’s ‘Discounted’ Gold Is a Wholesale Story, Not a Retail Bonanza
Viral videos claiming Dubai jewellery was being sold at steep discounts mischaracterised a wholesale phenomenon. Retail 24K gold in Dubai remained priced around 623 AED per gram, while discounts of up to $30/oz were confined to wholesale bullion trading due to logistical disruptions.
CK Hutchison Sues Panama for $2bn After Government Seizure of Key Container Terminals
CK Hutchison’s Panama Ports unit has initiated ICC arbitration after Panama’s government seized two container terminals at Balboa and Cristóbal on February 23, seeking at least $2 billion in damages. The dispute threatens operational disruption at key transshipment hubs, raises questions about foreign investor protections in Latin America, and could have wider implications for global supply chains and Panama’s reputation as a secure maritime gateway.
Can Guo Guangchang Rescue Shede as Management Shuffle Exposes Deepening Strain?
Shede Wine Industry is under mounting pressure as a VP with crucial local-government ties resigns amid falling revenues, weak mid‑to‑high-end sales and ballooning inventories. Fosun retains board control and Guo Guangchang’s personal support offers some hope, but aggressive capacity expansion and high dividend payouts complicate the company’s ability to recover without decisive strategic moves.
Gold Plunges Over $100 in a Day Despite Middle East Tensions — Markets Digest Mixed Signals
Gold fell more than $100 intraday on March 9, dropping below $5,100 an ounce even as tensions in the Middle East rose after Iran named Mojtaba Khamenei as supreme leader. The decline reflects short‑term technical selling and shifts in yields and the dollar, even as major banks raise longer‑term price targets for the metal.
Surge in Crude Sends China’s Pump Prices Up — Biggest Hike Likely This Year
A surge in crude prices driven by Middle East tensions has pushed WTI above $89 and Brent near $92, prompting Chinese authorities to raise retail pump prices by roughly 0.39–0.42 yuan per litre. The adjustment, likely the largest this year, will raise costs for transport and industry and complicate policymakers’ efforts to balance inflation and growth.
China’s EV Arms Race Deepens: BYD’s Megawatt SUV Debuts as Xpeng and Others Sharpen Price and Range Bets
China’s automakers used fresh product launches this week to underscore two converging trends: technological escalation around ultra-fast charging and battery systems, and intensified price segmentation across EV and range-extended lineups. BYD’s new Datang flagship showcases megawatt-class fast charging and high-performance electric powertrains, while Xpeng, GAC Aion and GAC Toyota expand their ranges to compete on price, range and smart-cabin features.
China auto executive urges policy parity for petrol and electric cars to kick‑start consumption
Liu Yiyan, a SAIC Volkswagen executive and NPC deputy, has proposed that China stop differentiating between conventional and new energy vehicles in future subsidy and policy design, and accelerate measures to boost auto consumption, finance, autonomous driving laws, and AI‑auto talent development. Her recommendations aim to unlock short‑term demand while urging clearer legal frameworks for automated vehicles and deeper ties between industry and education.
Layoffs, Pay Cuts and a Vanishing CEO: Xibei’s Collapse as a Cautionary Tale for China’s Restaurant Sector
Xibei, a major Chinese restaurant chain, has come under fire after management rescinded earlier promises to protect employee pay, pushed staff toward voluntary resignations with a strict deadline, imposed standby wages at local minima, and offered severance in delayed instalments. The CEO, Jia Guolong, has stepped down amid a widening trust and reputational crisis that highlights wider risks for China’s restaurant sector.
JD’s Growth Windfall, Profit Hangover: How an Aggressive Push into Food Delivery Blew a Hole in 2025 Results
JD.com grew revenue to RMB1.3 trillion in 2025 but saw operating profit collapse as it spent heavily to build a food‑delivery and local‑services business. The new businesses posted RMB46.6 billion in losses for the year, driven by steep increases in marketing and fulfilment costs, even as core retail and JD Health showed pockets of resilience. Management says spending will ease if competition stabilises, but the company must prove it can convert strategic subsidiaries into independent, high‑quality profits to win back investor confidence.