Business

China has become an increasingly difficult market for foreign car makers, with BYD and other domestic companies raising their quality and cutting costs. The country is now also subsidising its own domestic car makers. ADVERTISEMENT General Motors has announced it is having to take a restructuring charge of more than $5bn (€4.8bn) and write down assets in the fourth quarter …

Helsing’s new strike drone launch comes as the company tries to capitalise on the growing interest in autonomous weapons, the effectiveness of which has been highlighted by the war between Russia and Ukraine. ADVERTISEMENT German artificial intelligence (AI) and security company Helsing has launched its first strike drone, named HX-2.  The move comes as the company attempts to take advantage …

While games at the next World Cup, co-hosted with Canada and Mexico, will be watched by hundreds of millions globally mostly on free-to-air public networks, the Club World Cup broadcast picture is unclear. ADVERTISEMENT World Cup sponsor Bank of America has teamed with FIFA for a second time, signing for the Club World Cup that still has no broadcast deals …

December has traditionally been the euro’s strongest month, with consistent gains driven by US dollar weakness. However, political instability in Europe, US tariff threats, and global geopolitical tensions may challenge the euro’s usual seasonal rally this year. ADVERTISEMENT December has historically been the strongest month of the year for the euro, with the single currency gaining an average of 1.6% …

Warren Stephens is head of Stephens Inc, a privately owned diversified financial services firm. Its headquarters are in Little Rock, Arkansas. ADVERTISEMENT President-elect Donald Trump has named billionaire investment banker Warren Stephens as his envoy to Britain, a prestigious posting for the Republican donor whose contributions this year included $2m (€1.9m) to a Trump-backing super political action committee (PAC). Trump, …

The French pharma firm is seeking to increase insulin production in Beijing as trade tensions between the EU and China simmer on. ADVERTISEMENT Sanofi will invest around €1bn in China to build a new insulin production site in Beijing, the French firm said in a WeChat statement. The site, which will be Sanofi’s fourth production facility in the country, is …

The DAX hit a new high for the second straight trading day on Monday. Strong performances in the technology, financial, and industrial sectors have fuelled the rally, despite broader economic weakness. ADVERTISEMENT Germany’s benchmark, the DAX, reached an all-time high for the second straight trading session, rising 1.57% and nearing the 20,000 mark. Despite the recent negative economic readings and …

ASML sees a limited impact of the US fresh restrictions on AI chip exports to China and maintains its guidance for 2024 and 2025. ADVERTISEMENT Dutch computer chip equipment maker ASML has been exempted from the new chip export restrictions on China. The company, Europe’s second-largest tech firm maintained its guidance, saying in a statement on Monday regarding the fresh …

French PM Michel Barnier has invoked Article 49.3 to pass budget measures without parliamentary approval, risking a no-confidence vote. Opposition, led by Marine Le Pen, demanded the indexation of pensions to inflation. Markets react with bond spreads widening and CAC 40 falling. ADVERTISEMENT French Prime Minister Michel Barnier has invoked Article 49.3 of the Constitution to force through controversial draft …

The country banned all metals mining above ground and below in 2017 in order to protect the small country’s water resources from contamination. ADVERTISEMENT The Roman Catholic Church has added its voice to calls on El Salvador’s present to retain the country’s ban on gold mining. Archbishop José Luis Escobar Alas on Sunday made the request to President Nayib Bukele, …