Reported 1 day ago
Xiaomi, the Chinese smartphone manufacturer, has announced that soaring memory chip prices are increasing the production costs of its devices. Following the disappointing market response to its new Redmi K90 series, President Lu Weibing emphasized on Weibo the significant impact of unexpected cost pressures, stating that the pricing of new products will reflect these rising costs. To mitigate consumer disappointment over pricing discrepancies, Xiaomi plans to temporarily lower the price of its most popular K90 model.
Source: YAHOO
Reported 1 day ago
China's latest five-year plan aims to enhance technological self-reliance and boost domestic consumption as the nation navigates ongoing trade tensions. During a recent Politburo meeting, Chinese leaders emphasized the importance of maintaining manufacturing capabilities while addressing challenges such as a declining property market and sluggish consumer confidence. The plan outlines a vision for significant improvements in high-tech sectors and a commitment to strengthening China's position in global trade, despite the complexities introduced by international competition and market dynamics.
Source: YAHOO
Reported 1 day ago
Amidst the excitement around AI stocks, major investors are cautiously returning to tactics from the 1990s dotcom era to mitigate bubble risks. With valuations of companies like Nvidia skyrocketing, investors are shifting away from highly valued stocks to potential next winners in the tech sector. They observe signs of an emerging bubble and aim to capitalize on growth opportunities in industries like software and robotics, while being wary of overcapacity and market saturation. Experts suggest that understanding the market's phases could help investors navigate this volatile environment effectively.
Source: YAHOO
Reported 1 day ago
Dmitry Balyasny’s hedge fund is aggressively expanding its Asia macro trading team by hiring four new members, including two associates from BlueCrest Capital Management, as part of a strategy to capitalize on macro trading opportunities amid geopolitical tensions and changes in monetary policies. Led by yen rates specialist Ron Choy, the newly formed team aims to enhance Balyasny Asset Management's approach in a region where it traditionally focused more on equities.
Source: YAHOO
Reported 1 day ago
US stock futures rose on Friday as investors reacted to a cooler-than-expected CPI inflation report, which showed a 3% annual increase, slightly lower than forecasts. The Dow Jones, S&P 500, and Nasdaq futures experienced gains amid ongoing government shutdown concerns and President Trump's announced cancellation of trade talks with Canada. Notably, Intel shares surged 8% after exceeding revenue expectations, reflecting optimism in the semiconductor industry.
Source: YAHOO
Reported 1 day ago
Chinese state-owned firms, including Sinopec, have halted some Russian oil purchases following US sanctions targeting major Russian producers. This disruption in the oil market comes as the US aims to increase pressure on Moscow over its actions in Ukraine. Despite the sanctions, pipeline deliveries from Russia to China are expected to continue, but overall Russian oil imports to China and India are predicted to decline significantly.
Source: YAHOO
Reported 1 day ago
The American Trucking Association (ATA) has contributed to a crisis in the trucking industry by promoting a misleading narrative of a truck driver shortage, leading to relaxed safety regulations and an influx of inadequately trained drivers. This has resulted in dangerous driving practices and a detrimental economic environment, where family-owned businesses struggle to compete against operators willing to ignore safety standards. The situation calls for a renewed commitment to safety and fair labor practices rather than simply increasing the number of drivers.
Source: YAHOO
Reported 1 day ago
Oil prices have steadied above $62 a barrel following U.S. sanctions on major Russian producers Rosneft and Lukoil, resulting in an expected weekly gain of about 8%. The sanctions aim to impede revenue flowing to Russia amidst its ongoing conflict in Ukraine, leading to anticipated drops in oil exports to India and purchase cancellations by Chinese firms. While a significant surplus exists in the oil market, analysts expect algorithmic buying to continue, driving prices upward in the near term.
Source: YAHOO
Reported 1 day ago
Amid a government shutdown, the White House is undergoing a major renovation, with a new 90,000-square-foot ballroom funded by private donations, including significant contributions from major tech companies like Amazon, Apple, Google, Meta, and Microsoft. Trump's initiative, estimated to cost $250 million, highlights a shift in Silicon Valley's relationship with him, as many tech firms now see potential benefits in aligning with his administration amid ongoing antitrust challenges.
Source: YAHOO
Reported 1 day ago
The Trump administration is urging regulators to expedite the process for data centers to connect to power grids, proposing a 60-day review limit to enhance the booming AI sector and compete with China. Energy Secretary Chris Wright emphasized the need for timely electricity access for large data loads, including AI centers, amidst rising concerns about the impact of their energy demands on local utility bills. The move is anticipated to benefit tech firms while also facing potential challenges from states dealing with increased power demands.
Source: YAHOO
Reported 1 day ago
China is utilizing its status as the world's largest creditor to promote the yuan by offering foreign debtors the chance to refinance loans in yuan instead of dollars, capitalizing on lower domestic interest rates. This week, Ethiopia joined other nations like Kenya in seeking yuan-denominated loans, sparking a trend among sovereigns to benefit from cheaper Chinese financing. Although this strategy leads to potential financial losses for China due to lower interest rates, the long-term goal is to increase the yuan's role in international commerce and diminish U.S. financial dominance amid ongoing economic tensions.
Source: YAHOO
Reported 1 day ago
Fujikura, Japan's century-old wire manufacturer, has emerged as a standout on the Nikkei index, riding a wave of investment in AI data centres that utilize its optical fibers. The company's shares have surged over 160% in 2025, following increased interest from investors as Japan's new Prime Minister promises targeted investments in AI. Founded in 1885, Fujikura has positioned itself well within the AI supply chain, with a significant portion of its production catering to international customers, including major tech firms.
Source: YAHOO
Reported 1 day ago
The Canadian government has announced a reduction in tariff-free import allowances for Stellantis and General Motors due to their recent production cuts in Canada. Stellantis is shifting its Jeep Compass production to the U.S., while GM will stop producing BrightDrop electric vans in Ontario. As a result, the exemption quota for GM will decrease by 24% and for Stellantis by 50%, raising concerns about the future of Canada's auto sector and its impact on jobs.
Source: YAHOO
Reported 1 day ago
Ford has decided to temporarily halt production of the all-electric F-150 Lightning due to prioritizing gas and hybrid F-Series trucks that are more profitable and require less aluminum. This decision comes after a fire at a key aluminum supplier's factory, significantly impacting Ford's earnings and production capabilities. Despite a 39.7% year-over-year increase in F-150 Lightning sales, the numbers are overshadowed by the demand for gas-powered F-Series trucks. Ford plans to resume F-150 Lightning production once conditions are favorable, as they aim to recover from the losses caused by the factory fire.
Source: YAHOO
Reported 1 day ago
Gold is set to end a nine-week winning streak due to a market correction that follows its recent rally into overbought territory. Prices have dropped to around $4,112 an ounce, marking a more than 3% decline for the week. Factors such as anticipated US-China talks to address trade tensions and significant outflows from gold-backed ETFs contributed to the drop. Despite the correction, analysts suggest it could lead to renewed buying interest as structural support for gold remains strong.
Source: YAHOO
Reported 1 day ago
Asian stocks climbed as President Trump's upcoming meeting with China's Xi Jinping raised hopes for easing trade tensions. European markets also hit new highs, buoyed by strong earnings and a positive outlook on US interest rates, despite the looming consumer inflation report. Investors remain optimistic amid falling Treasury yields and a surge in Brent crude prices, signaling a potential recovery in global markets.
Source: YAHOO
Reported 1 day ago
Target is eliminating approximately 1,800 corporate positions as part of a strategy to streamline operations and enhance its customer base amid declining sales. COO Michael Fiddelke announced the layoffs, which affect around 8% of the corporate workforce primarily at the Minneapolis headquarters, citing unnecessary complexity as a barrier to effective decision-making. The layoffs come as the retailer seeks to revitalize its brand image and improve shopping experiences, following a decline in comparable sales over the past eleven quarters.
Source: YAHOO
Reported 1 day ago
President Donald Trump is set to visit Japan and South Korea next week to promote an ambitious $900 billion investment plan aimed at enhancing U.S. manufacturing and infrastructure. Despite Japan and South Korea pledging significant investment amounts, the details remain vague, with Japan proposing $550 billion mainly for its own companies and South Korea offering $350 billion contingent on U.S. loan guarantees. The ongoing negotiations indicate a careful balancing act as both nations seek to preserve their relations with the U.S. while addressing their own economic needs.
Source: YAHOO
Reported 1 day ago
Google's tensor processing units (TPUs), designed for AI tasks, are gaining popularity beyond the company, particularly with a recent deal to supply Anthropic with extensive computing power. This endorsement highlights TPUs as a viable alternative to Nvidia's GPUs, which dominate the AI chip market but are costly and frequently in short supply. Google has improved its TPU technology over the years, making it more efficient and tailored for AI workloads, thus attracting the attention of various AI startups and potentially expanding its cloud services.
Source: YAHOO
Reported 1 day ago
US farmers are experiencing a significant surplus of soybeans this fall, exacerbated by China's withdrawal as a major buyer due to retaliatory tariffs imposed amid the trade war with Trump. With no shipments from China this harvest, American soybean growers are left with vast amounts of unsold crops and concerns that China may increasingly turn to Brazilian and Argentine supplies in the future, creating uncertainty in the market and jeopardizing their income.
Source: YAHOO
Reported 1 day ago
U.S. stock futures rose on Friday morning as investors awaited a significant inflation report that could influence the Federal Reserve's policy decisions. The Dow Jones, S&P 500, and Nasdaq 100 futures experienced modest gains, with investor focus shifting to September's Consumer Price Index data, which is anticipated to show inflation near a 3% annual rate. This data comes amid an ongoing government shutdown and marks the first key economic release since it began. Additionally, shares of Intel surged nearly 7% following a strong third-quarter revenue report.
Source: YAHOO
Reported 1 day ago
Intel's recent third-quarter earnings exceeded Wall Street expectations, driven by revenue growth and significant investments from SoftBank, the U.S. government, and Nvidia. While the company shows signs of recovery after a series of quarterly losses, its foundry business remains a concern, prompting CEO Lip-Bu Tan to implement layoffs and focus on building trust with potential customers. The Trump administration's investment conditions also stress the importance of maintaining the foundry as part of Intel's long-term strategy.
Source: YAHOO
Reported 1 day ago
French President Emmanuel Macron has called on EU leaders to contemplate using the bloc's strongest trade tool in response to China's planned export controls on critical raw materials. At a recent summit, he emphasized the need to address what he labeled as economic coercion from China, which could significantly impact European industries and security. While Germany's Chancellor acknowledged the discussion, no decision has been made on implementing the anti-coercion instrument, leaving it up to the European Commission to develop options for negotiations.
Source: YAHOO
Reported 1 day ago
President Trump has terminated trade negotiations with Canada following an advertisement against his tariffs featuring Ronald Reagan's voice, labeling it as harmful to national security and the economy. Meanwhile, Trump is set to meet with Chinese President Xi Jinping next Thursday in an attempt to address escalating trade tensions. The U.S. is considering export restrictions to China and ongoing negotiations aim to stabilize the fragile trade relationship between the two nations.
Source: YAHOO
Reported 1 day ago
Google has announced a significant deal with Anthropic, providing up to 1 million AI chips valued at tens of billions of dollars. This partnership enhances Anthropic's computing capabilities and strengthens Google's role in the competitive AI market. The specialized chips, known as tensor processing units (TPUs), are expected to be deployed by 2026, significantly advancing the development of large AI models. This collaboration comes amid rising costs for cutting-edge AI systems and follows substantial investments from both Google and Amazon in Anthropic.
Source: YAHOO