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- BusinessAFP News
Asian stocks rise on earnings optimism as US data approaches
Asian equities extended the week's gains Wednesday following a strong rally on Wall Street and another record in London, as traders cheered more upbeat earnings reports and data indicating a slowdown in US economic activity.Asia continued the week's rally, with Tokyo, Hong Kong, Seoul and Taipei up more than two percent, while Wellington and Manila gained more than one percent higher.
3-min read - NewsAFP News
EU opens probe into China's medical device market
The European Union has launched an investigation into Chinese public procurement of medical devices, the EU's official journal said Wednesday, in a move that risks raising further tensions with Beijing.It is the first probe under the EU's International Procurement Instrument which seeks to promote reciprocity in access to international public procurement markets.
2-min read - BusinessReuters
Filtronic's shares surge 50% on deepening supply deal with Musk's SpaceX
Filtronic, which manufactures products for the aerospace, defence, space and telecom infrastructure markets, already supplies Starlink with E-band solid state power amplifiers (SSPA), which are used for low-earth orbit satellites. SpaceX will also get 21.7 million warrants in Filtronic, enabling it to subscribe for up to 10% of its shares. The partnership was executed with an initial purchase order of $19.7 million to supply E-band SSPA modules, scheduled for delivery in fiscal 2025, Filtronic
1-min read - NewsAFP News
Blinken due in China seeking pressure but also stability
US Secretary of State Antony Blinken was due in China on Wednesday, as the United States ramps up pressure on its rival over its support for Russia while also seeking to manage tensions with Beijing. But Blinken is also seeking to stabilise ties, with tensions between the world's two largest economies palpably easing since his last visit in June.
4-min read - BusinessReuters
Polestar may use US plant to sell cars to Europe as EU-China tension rises
Chinese-backed Swedish electric vehicle (EV) maker Polestar Automotive is preparing to shift production of cars it plans to sell into Europe to its U.S. plant from China in view of rising geopolitical tension, its CEO said. Asked how Polestar is preparing for a European probe into Chinese-made EVs possibly leading to increased tariffs, Thomas Ingenlath said the automaker is exploring the idea of exporting the Polestar 3 made in South Carolina to the European Union. Polestar builds the majority
2-min read - BusinessReuters
Analysis-China's EV survival game creates peril - and power
By most measures, the last thing China needs is more electric cars crowding a market with more losers than winners, driving down prices at the expense of profit and taking the fight for market share beyond China. But while there is a peril in China's overcapacity, there is also a power in the hyper-competition it has unleashed, analysts, suppliers and executives say. China's leading EV makers have found ways to slash vehicle development time, combining speed to market with new features and a p
5-min read - BusinessAFP News
Chinese sellers go to TikTok school to reach buyers abroad
Donning hijabs and floor-length abaya gowns over shorts and tank tops, Chinese students at an e-commerce school perform into a smartphone camera as they learn how to sell the clothes to overseas TikTok users.It is the final day of a two-week course on selling products abroad via the short video app -- which despite being blocked in China is a platform more and more Chinese vendors are turning to.
5-min read
