(Reuters) – Walmart (WMT) has asked some Chinese suppliers for major price cuts, with the U.S. retail giant’s efforts to shift the burden of President Donald Trump’s tariffs facing strong push back from firms in the Asian nation, Bloomberg News reported on Thursday. Certain suppliers, including makers of kitchenware and clothing, have been asked to…
(Reuters) – Mercedes-Benz and its subsidiaries plan to cut up to 15% of their workforce in China, Bloomberg News reported on Thursday, citing people familiar with the matter. The job cuts will primarily impact its financing and sales units, Mercedes-Benz Automobile Finance Co and Beijing Mercedes-Benz Sales Service Co, the report added. Mercedes-Benz has already…
(Reuters) -Tesla is readying a software update for customers in China to offer driving-assistance capabilities similar to its Full Self-Driving (FSD) features in the U.S., Bloomberg News reported on Monday, citing a person familiar with the matter. The capabilities will be deployed to customers who have paid 64,000 yuan ($8,831.73) for what Tesla calls FSD,…
(Bloomberg) — Grab Holdings Ltd. shares plunged after it predicted full-year revenue that trailed estimates, suggesting caution around a Southeast Asian ride-hailing and food delivery market where GoTo Group remains a formidable rival. Most Read from Bloomberg The company expects a 19% to 22% rise in sales to $3.33 billion to $3.4 billion this year,…
(Bloomberg) — Chinese stocks in Hong Kong extended a recent rally as the nation’s growing capabilities in artificial intelligence boosted optimism over the market’s outlook, while a potentially momentous show of support for the private sector gave sentiment an extra lift. Most Read from Bloomberg The Hang Seng China Enterprises Index jumped 4.1% on Friday…
(Bloomberg) — Roblox Corp., the video-game service used by millions of young people, is part of an active investigation by the US Securities and Exchange Commission, according to information obtained by Bloomberg News. Most Read from Bloomberg Responding to a Freedom of Information Act request, the commission said in a letter Friday that it couldn’t…
(Reuters) – Diageo does not intend to sell its beer brand Guinness or its stake in Moet Hennessy, LVMH’s drinks unit, the world’s top spirits makers said on Sunday. On Friday, Bloomberg News reported that the company was exploring options for Guinness, a star performer in Diageo’s portfolio, as well as reviewing its investment in…
(Reuters) -Nvidia has added about 200 people in China this year to enhance its research capabilities and focus on new autonomous driving technologies, Bloomberg News reported on Wednesday. Over the past couple of years, it has expanded in the country to now have close to 600 people in Beijing, and it recently opened a new…
(Bloomberg) — This year is poised to be the busiest in nearly a decade for takeover deals involving a range of Hong Kong-listed companies, from skin-care brands to warehouse operators. Allied to that has been an uptick in bidding wars as some firms jostle for assets. Most Read from Bloomberg China Mobile Ltd.’s pursuit of…
(Reuters) – Apple is preparing to launch its long-awaited series of cellular modem chips next year, which will replace components from longtime partner Qualcomm, Bloomberg News reported on Friday. The iPhone maker is looking to ultimately overtake Qualcomm’s technology by 2027, the report said, citing people familiar with the matter. Qualcomm, a leading designer of…