Chris Kirkham | Reuters Tesla’s stock plunges by half; is Elon Musk’s EV party over? Tesla’s stock has dropped by nearly half in three months, losing most of the gains it made following the U.S. election last year, when CEO Elon Musk helped fund the victory of President Donald Trump. Tesla’s stock has dropped by…
Shanghai Newsroom | Reuters Volvo backtracks on EV pledge, as other automakers have done the same Volvo has revised its plan to transition fully to electric vehicles by 2030, as others in the industry have made similar moves. Straight Arrow News Japan’s Toyota 7203.T began selling a $20,000 smart electric car in China this week, aiming to…
Kanishka Singh and Jasper Ward | Reuters How Trump’s tariffs will effect everyday prices With new tariffs on imports, several everyday goods are likely to become more expensive for American consumers. Cars and auto parts, many of which are produced through an integrated North American supply chain, will see price increases as manufacturers adjust to…
Hong Kong police have seized HK$76 million (US$9.8 million) worth of suspected ketamine and cocaine hidden in legitimate goods, arresting four people, including two recruited with the promise of receiving free travel and cash rewards of up to HK$50,000. Jacky Chang Ka-chun, acting superintendent of the force’s narcotics bureau, said on Wednesday that officers confiscated…
A joint operation by Hong Kong, Macau and mainland Chinese law enforcement agencies has resulted in the arrest of 63 people for allegedly operating a cross-border prostitution ring, with its mastermind and core members caught in the city. Police Chief Inspector Tang Hoi-tung from the organised crime and triad bureau said on Friday officers had…
Hong Kong police have arrested 11 people from a fraud syndicate that allegedly helped more than 800 residents withdraw HK$145 million (US$18.7 million) from their Mandatory Provident Fund (MPF) savings prematurely using fake documents. The force said on Friday that the racket operated in the Tsim Sha Tsui office of a financial consultancy firm as…
Six Hongkongers from a syndicate have been arrested for smuggling raw food from mainland China to the city, including the largest amount of hairy crab in a single case this year, according to the Customs and Excise Department. Customs said on Friday it had seized unauthorised frozen meat, eggs, and hairy crab worth about HK$200,000…
HONG KONG (SCMP): Hong Kong police have made the city’s biggest seizure of Ice on record, confiscating HK$210 million (US$27 million – RM116 million) worth of the drug concealed in furniture and arresting a 26-year-old Malaysian on suspicion of trafficking the substance. Acting Superintendent Cheung Hok-fung of the force’s narcotics bureau said on Saturday that…
Hong Kong police have made the city’s biggest seizure of Ice on record, confiscating HK$210 million (US$27 million) worth of the drug concealed in furniture and arresting a 26-year-old Malaysian on suspicion of trafficking the substance. Acting Superintendent Cheung Hok-fung of the force’s narcotics bureau said on Saturday that suspected substances – 335kg of solid…
Hong Kong police have arrested 14 people in a crackdown on a cross-border syndicate that allegedly laundered more than HK$230 million (US$29.5 million) from bank accounts linked to dozens of job and investment scams, with victims losing more than HK$18 million. Chief Inspector Lo Yuen-shan of the commercial crime bureau said on Friday that members…