Chinese EV giant BYD on Tuesday reported its lowest quarterly profit in three years as low demand at home weighed on sales. The company’s earnings underscored the toll of a yearslong price war in China’s auto sector, which has yet to abate — BYD’s discounts in March hit their highest ...
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FCC to challenge ABC broadcast licensesFCC to challenge ABC broadcast licenses
The Federal Communications Commission is moving toward a review of Disney’s broadcast licenses, according to people familiar with the matter, a maneuver that would up the pressure on the ABC owner as it faces fierce scrutiny from the administration — again — over a late night monologue. The FCC may ...
UAE’s Saudi schism deepens with move to quit OPECUAE’s Saudi schism deepens with move to quit OPEC
Matthew’s view The UAE’s announcement that it will quit the Organization of Petroleum Exporting Countries — a group that it has been a member of since 1967 — is a blow to the cartel, which has struggled in recent years to maintain unity. Certainly, in the short term, its announcement ...
We’re in the ‘call me, maybe’ era of M&AWe’re in the ‘call me, maybe’ era of M&A
Rohan’s view Deal talks used to be closely held secrets, discussed in backrooms of steakhouses or during late Sunday night board calls. No longer. We’re now in the “call me, maybe” era of dealmaking. See United Airlines CEO Scott Kirby publicly making the case Monday for buying American Airlines. Or ...
Treasury directs banks to steer clear of China’s ‘teapot’ refineriesTreasury directs banks to steer clear of China’s ‘teapot’ refineries
The Scoop The Treasury Department on Tuesday will direct financial institutions to keep additional distance from transactions on behalf of Chinese “teapot” oil refineries, independent facilities that play a key role in importing and refining Iranian fuel. Treasury’s Office of Foreign Assets Control has already imposed sanctions on five of ...
The UAE’s OPEC exit is no surpriseThe UAE’s OPEC exit is no surprise
Wael’s view The UAE said today it would leave OPEC and OPEC+, effective May 1. Shock is the word most news reports have reached for. It shouldn’t be. This moment has been building for almost a decade. Abu Dhabi disagrees with OPEC’s quota system which didn’t keep pace with the ...
Africa facing ‘acute’ hunger crisis as prices soarAfrica facing ‘acute’ hunger crisis as prices soar
Africa is facing a hunger crisis as soaring food costs sparked by the Iran war compound the toll of foreign aid cuts and erratic weather that has already devastated crops. Clinics treating malnourished children in Somalia have had to cut rations, with almost 500,000 children under five in the country ...
Asian economies prove resilient in wake of warAsian economies prove resilient in wake of war
Asian economies are proving resilient in the face of the energy shock sparked by the Iran war, though analysts warn of higher and persistent inflation. Experts feared that Asian economies — which imported 90% of the oil traversing through the Strait of Hormuz before the war — could be devastated ...
China’s CATL’s raises $5B in HK listingChina’s CATL’s raises $5B in HK listing
China’s CATL, the world’s biggest battery maker, raised $5 billion in a Hong Kong listing, welcome news for the firm as it looks to leverage booming demand amid soaring fossil fuel prices. The company — which last week unveiled a landmark car battery with a 1,500-kilometer (930-mile) range that takes ...
Embraer fuel-efficient jet draws buyersEmbraer fuel-efficient jet draws buyers
Brazilian plane maker Embraer reported a record $32 billion backlog at the end of the first quarter as carriers flocked to its highly fuel-efficient E-Jet amid a global jet fuel crunch. The record demand comes even as the São Paulo-based firm delivered 44 planes in the first quarter of 2025, ...