China vows to ‘fight back’ after US threatens $200bn tariffs on goods July 11, 2018 Beijing has vowed to “fight back as usual” after Donald Trump’s tit-for-tat trade war with China escalated once again last night. Washington threatened to slap a further $200bn (£150.8bn) worth of tariffs on a wide range of Chinese goods such as coal, tobacco and consumer electronics after talks between the two superpowers to ease tensions [...]
Tesla is building a plant in China that can make 500,000 vehicles a year July 10, 2018 Tesla has reached a preliminary deal with the Chinese government to build its next gigafactory in Shanghai, with a plant that can make 500,000 cars a year. The Shanghai government confirmed the deal in a statement this morning, after reports surfaced earlier today surrounding Tesla chief executive Elon Musk’s visit to the city. Bloomberg added [...]
Tesla hikes its car prices in China in the face of the US-Sino trade war’s rising tariffs July 9, 2018 Electric car manufacturer Tesla has hiked the price tags of its cars in China, becoming one of the first carmakers from the US to react over rising trade tensions between the two countries. The company raised the prices of its Model X and S cars in China by up to $37,600 (£28,226), according to local [...]
Chinese bid for Northern Aerospace fails amid security fears July 9, 2018 Chinese takeover attempts to buy a British defence company have fallen through, according to UK private equity firm Better Capital. Approval has not been given for aircraft parts maker Northern Aerospace to be purchased by Derby-based Gardner Aerospace, a subsidiary of Chinese aerospace and mining firm Shaanxi Ligeance Mineral Resources. Read more: Aerospace sector revises [...]
Sky’s the limit: Alibaba Cloud looks to take on Amazon as it talks up a partnership with BT July 9, 2018 Chinese tech giant Alibaba is in talks to provide its cloud services to BT, in an apparent bid to take on Amazon’s dominance of the European market. Alibaba already holds a cloud services deal with Vodafone in Germany, where its first European data centre is located. If the partnership with BT were to look similar, [...]
Make cool stuff, says Jason Kingsley, founder of video game company Rebellion July 9, 2018 VIDEO games get a bad rap. The industry is still plagued by unfair stereotypes about gamers (perpetuated by awful shows like The Big Bang Theory) and sensationalist headlines in newspapers – think of the furore over the currently popular multiplayer shooter Fortnite, with parents claiming that their children are “addicted” to the game. This knee-jerk [...]
Chinese bid for Northern Aerospace falls through as regulator denies approval July 9, 2018 Chinese takeover attempts to buy a British defence company have fallen through, according to UK private equity firm Better Capital. Approval has not been given for aircraft parts maker Northern Aerospace to be purchased by Derby-based Gardner Aerospace, a subsidiary of Chinese aerospace and mining firm Shaanxi Ligeance Mineral Resources. Read more: Aerospace sector revises [...]
Last Week in the City: Trade wars begin July 6, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (2 to 6 July 2018). The World Cup is “distracting” for participants in global markets, according to Citigroup. "We find that football is indeed distracting, subtly impacting market depth, traded volumes and execution cost,” the US [...]
Mobike refunds user deposits in China, in a bid to pedal away with market share July 5, 2018 Chinese bike-sharing company Mobike has said it will be ditching the traditional deposit scheme for all of its Chinese users, in a bid to win over the market amid fierce competition. Existing customers will be able to claim back their deposits from Mobike, which was priced at 299 yuan (£34). Mobike said in a statement [...]
Tit for tat trade response risks 1930s mistake July 4, 2018 “Trade wars are good and easy to win”, so says US President Trump who last weekend railed against the EU for being as “bad as China” when it comes to trade practices that he perceives as being disadvantageous to US jobs and business. Over the past few weeks the rhetoric over global trade has been [...]