China’s factory activity slump worsened in October, reaching its longest decline in more than nine years as a deepening economic slowdown sets in during the final quarter. The official manufacturing purchasing managers’ index was 49, versus 49.8 in September, the National Bureau of Statistics said Friday. The median estimate of economists surveyed by Bloomberg was…
Supply Lines is a daily newsletter that tracks global trade. Sign up here. As German firms wrestle with new Chinese controls on rare earths, they are handing Beijing sensitive supply chain information it could potentially use to squeeze manufacturers or shut down production lines in Europe’s biggest economy. Source link
US sanctions on a key Chinese oil import terminal are redirecting crude flows and threatening run cuts at several state-owned refineries. Last week’s blacklisting of the Rizhao Shihua Crude Oil Terminal, which handles about 9% of China’s crude imports, could force run cuts of up to 250,000 barrels a day at a handful of refineries…
The Norwegian officials in charge of awarding the Nobel Peace Prize are investigating information that online bets on this year’s recipient surged overnight, suggesting a potential leak of information. Bets for Venezuelan opposition leader Maria Corina Machado, who was awarded the 2025 Nobel Peace Prize for fighting for democracy, spiked at the Polymarket gambling site…
Swiss watch exports tumbled in August as Chinese demand remained weak and stiff US tariffs went into effect. Exports fell about 17% from a year earlier, the Federation of the Swiss Watch Industry said in a statement Thursday. All main markets saw double-digit declines, with China down 36% and the US — the watch industry’s…
The Boring Co.’s lead architect has left the tunneling company founded by Elon Musk to join an autonomous transportation startup backed by investors including OpenAI co-founder Sam Altman. Stephen Skilbred, who since 2021 has worked at Boring, recently joined Glydways Inc., a representative for the South San Francisco-based developer of self-driving transit vehicles told Bloomberg…
Hong Kong is in talks with several Chinese electric-vehicle makers to establish local EV manufacturing, according to people familiar with the matter, as the financial hub looks to advanced industries to diversify its ailing economy. The city’s officials aim to develop an EV assembly base — a relatively complex process requiring advanced skills, the people…
China’s BYD Co. is forging ahead with its attempts to expand in India despite roadblocks from the government that are preventing the electric vehicle maker from conducting key business dealings there. Like most Chinese companies, BYD has been unable to obtain visas for executives after a deadly clash between Indian and Chinese soldiers along a…
Elon Musk’s brain implant company Neuralink Corp. is collaborating with researchers in California and Spain on a clinical trial to study visual prosthetics. Neuralink’s participation in the trial was disclosed in late July on ClinicalTrials.gov, a government website listing medical studies. The study is sponsored by the University of California at Santa Barbara. Source link
Life at the top is proving complex for China’s leading automaker, and there are fresh challenges on the horizon. BYD Co.’s monthly sales have stagnated of late and with the summer months being a traditionally slower time for consumer purchases, that trajectory isn’t expected to reverse any time soon. Source link