HONG KONG (AP) — Chinese demand for foreign luxury cars is waning as customers opt for more affordable Chinese brand models, often sold at big discounts, catering to their taste for fancy electronics and comfort. That is bad news for European carmakers like Porsche, Aston Martin, Mercedes-Benz and BMW that have long dominated the upper…
A view of the NEO magnetic plant in Narva, a city in northeastern Estonia. A plant producing rare-earth magnets for Europe’s electric vehicle and wind-energy sectors. Xinhua News Agency | Xinhua News Agency | Getty Images NARVA, Estonia — Europe’s big bet to break China’s rare earths dominance starts on Russia’s doorstep. The continent’s largest…
TOKYO (AP) — Japan is filled with tiny white trucks that farmers and commercial workers use to lug their gear along the narrow roads of a nation smaller than California. But Japanese Prime Minister Sanae Takaichi had another, more substantial truck in mind as she looked to build rapport with visiting U.S. President Donald Trump….
A car equipped with Momenta technology on display at the IAA Mobility show in Munich, Germany in September 2025. Arjun Kharpal | CNBC Momenta, a Chinese driverless technology startup, is raising a fresh round of funding that could value the company at around $6 billion, two people familiar with the matter told CNBC. The valuation…
Traders work at the New York Stock Exchange on June 4, 2025. NYSE Here are two statements that, on the surface, may appear contradictory: The U.S. labor market is weakening, with the number of jobs in June actually decreasing. The U.S. stock market is hitting all-time highs, with the Nasdaq Composite being the latest index…
Workers from Chinese electric vehicle (EV) company NIO inspect vehicles in the final quality control area on the automated production line at the companys manufacturing hub on January 17, 2025 in Hefei, China. Kevin Frayer | Getty Images News | Getty Images The speed and scale of China’s electric vehicle revolution has caught the world…
Vehicles are assembled on a line at the BMW plant in Leipzig. Picture Alliance | Picture Alliance | Getty Images Shares of Europe’s top carmakers rose on Wednesday after the U.S. and Japan’s blockbuster trade agreement raised hopes of a tariff breakthrough for other major exporters. In a post on social media platform Truth Social,…
Euro area borrowing costs lower after German inflation data Euro zone bond yields are extending declines this morning after regional German inflation data. The June consumer price index in the key industrial state of North-Rhine Westphalia came in at 1.8% on the year down from 2% in May, and and was down 0.1% on the…