China is urging the Czech government to play an active role in helping resolve the trade dispute with the European Union over electric vehicles, according to a statement posted on the Ministry of Commerce’s website on Sunday. The EU last week decided to impose tariffs of up to 45% on electric vehicles from China, a…
Berkshire Hathaway Inc.’s cash pile reached $325.2 billion in the third quarter, a record for the conglomerate, as Warren Buffett continued to refrain from major acquisitions while trimming some of his most significant equity stakes. Berkshire once again cut its holdings in Apple Inc., the Omaha, Nebraska-based company said Saturday in a statement. Its stake…
China’s top solar manufacturers posted big losses in the third quarter as severe overcapacity and price wars continue to hurt the companies producing equipment critical to global energy transition. Leading panel-maker Longi Green Energy Technology Co. chalked up its fourth straight quarterly net loss of 1.26 billion yuan ($177 million), after recording a profit of…
When Meg Whitman was living in California and running first eBay Inc. and then HP Inc., the idea that Africa had some role to play in her businesses rarely crossed her mind. “I literally thought about Africa 1% of my time,” she says. Such inattention is common at US tech companies, which generally decided that…
Israel’s assaultBloomberg Terminal on Iran early Saturday, coordinated with Washington and limited to missile and air defense sites, was more restrained than many expected and may help diplomatic efforts to return hostages and limit the combat in both Lebanon and Gaza. Israel held off until US Secretary of State Antony Blinken returned to Washington from…
A mansion in Hong Kong has been sold for HK$845 million ($109 million), as the luxury property sector picks up on lower interest rates and government measures. House 2 at 15 Shouson Hill was sold on Thursday, according to transaction records. Preliminary deposit equal to 10% of the purchase price was paid upon signing the…
Hong Kong’s biggest property developer sold all of its units put on sale at one of its projects over the weekend, as some buyers took advantage of lower borrowing costs and steep discounts. All 238 units for sale at Sun Hung Kai Properties’ Cullinan Sky project were sold over the weekend, according to a representative…
Typhoon Krathon tracked toward Taiwan with strong winds and heavy rain, with the storm set to make landfall early Thursday and potentially keep the island’s $2.5 trillion stock market closed for a second day. Krathon has maximum sustained winds of 173 kilometers (107 miles) per hour, according to Taiwan’s Central Weather Administration. The intensity of…
China issued the third and what’s likely to be the final batch of fuel export quota for this year, keeping the level very similar to 2023 in a sign it doesn’t want to encourage refiners to boost activity. Seven refiners and traders received permission to export 8 million tons of gasoline, diesel and jet fuel…
Welcome to CFO Briefing, a newsletter devoted to corporate finance and what leaders need to know. If this was forwarded to you, sign up here . This week’s highlights include a dive into what finance chiefs are saying and doing ahead of the Fed’s expected rate cut. Plus, the CFO of China-owned agricultural firm Syngenta…