China Financial News

Mercedes-Benz's core car sales fell in 2024, a tough year for the auto industry marked by waning demand in a weak economy, especially in key market China, the German luxury carmaker said on Friday. It sold 1,983,400 cars during the year, down 3% versus 2023, weighed down by a 7% drop in China and a 3% decline in Europe. Annual sales of battery-electric cars (BEV) dropped by 23% to 185,100 vehicles, adding pressure on the carmaker as new, harsher EU CO2 emission reduction targets take effect this year, which could potentially mean costly pooling deals or hefty fines for Mercedes if the BEV sales don't pick up.

Chancellor Rachel Reeves was criticised for being «missing in action» as she flew to Beijing for meetings with Chinese government officials and businesses on Thursday (9 January), leaving Treasury secretary Darren Jones to face questions in parliament over surging borrowing costs and demands for spending cuts. Analysts split over Reeves' culpability in UK gilt chaos as US bonds follow suit Jones defended his boss to the Commons and told the House she would not break her promise to borrow money only for investment, or to cover day-to-day spending. Long-term yields on UK government d...

Henley Passport Index of the year 2025 has crowned Singapore as the most powerful passport of the world while granting its citizens visa free access to 195 out of 227 global destinations, reported CNBC Travel. This achievement actually marks a pretty significant milestone in global mobility while demonstrating the diplomatic and international standing of Singapore. According to CNBC Travel, Japan actually closely follows in second place with 193 visa free destinations while Finland, France, Germany, Italy, South Korea and Spain share third place together whereas each country is offering access to 192 destinations. The rankings actually highlight the continued dominance of Asian and European nations in international travel freedom. The United Arab Emirates emerged as a notable climber while rising 32 places to enter the top 10 with access to 185 destinations, asserted CNBC Travel. At the same time, on the other hand, the US eventually experienced a significant decline while dropping seven places to ninth position.

Donald Trump is scheduled to take charge as the President of United States of America on January 22 and will announce a slew of policy-related decisions. However, the US is likely to witness a slow GDP growth in 2025. The world economy resisted battering by conflicts and inflation last year and is expected to grow a subdued 2.8 per cent in 2025, the United Nations said Thursday. In «World Economic Situation and Prospects 2025,» UN economists wrote that their positive prediction was driven by the strong although slowing growth forecast for China and the United States and by the robust performances anticipated for India and Indonesia. The European Union, Japan, and United Kingdom are expected to experience modest recovery, the report says. The report says the US economy outperformed expectations last year thanks to consumer and public-sector spending, but growth is expected to slow from 2.8% to 1.9 per cent this year.

The United Nations says the world economy resisted battering by conflicts and inflation last year and is expected to grow a subdued 2.8% in 2025

unicorn startups has reached $340 billion, with seven new startups crossing the $1-billion valuation mark in 2024, according to a report by venture capital firm Orios Venture Partners. India now ranks as the third-largest nation, after the US and China, for venture capital-backed tech initial public offerings (IPOs), the India Tech Unicorns & Exits 2024 report said. These IPOs have pushed the total market capitalisation of India’s listed tech firms to around $150 billion. However, the report revealed an increase in the average time for Indian startups to achieve unicorn status, rising from 5.5 years in 2023 to 11 years in 2024. Similarly, the average time to go public went up from 12.5 years to 13.4 years during that period.

DAM Capital report added. The report added that inflation is a foremost concern for FY26, with a projected decline to 4.5 per cent from the current level. The major reason behind the persistent inflation is domestic pressure. The pass-through effect of rising raw material costs, particularly in agriculture, food, and metals, is expected to contribute to persistent inflation. As demand increases, businesses are likely to raise prices of raw materials, impacting consumers.

Changthang High Altitude Cold Desert Wildlife Sanctuary and the Karakorum Nubra Shyok Wildlife Sanctuary, aims to speed up ammunition access and ensure quicker operational deployment, according to the Ministry of Defence. India and China were engaged in a 54-month-long military standoff in eastern Ladakh, which began after their troops clashed in the Galwan Valley in May 2020. This standoff ended in October last year. The proposals for this strategic infrastructure were discussed during a meeting of the Standing Committee of the National Board for Wildlife, chaired by Union Environment Minister Bhupender Yadav on December 21.

SN Subrahmanyan has stirred a debate on social media on work-life balance with his advocacy of 90-hour work weeks. In an undated video, which has gone viral on social media. Subrahmanyan seemed to dismiss the value of time spent at home, saying, «What do you do sitting at home? How long can you stare at your wife? How long can the wives stare at their husbands? Get to the office and start working.» He was advocating for working Sundays. During the recorded interaction, when questioned about mandatory Saturday work at L&T, Subrahmanyan said, «I regret I am not able to make you work on Sundays, to be honest. If I can make you work on Sundays, I will be more happy, because I work on Sundays also.» Also Read: ‘How long can you stare at your wife?’: L&T chief advocates 90-hour work week

Nvidia on Thursday criticised a reported plan by the Joe Biden administration to impose new restrictions on AI chip exports, saying that the outgoing US leader should not «preempt incoming President Trump» by enacting a last-minute policy. «We would encourage President Biden to not preempt incoming President Trump by enacting a policy that will only harm the US economy, set America back, and play into the hands of U.S. adversaries,» Nvidia Vice President Ned Finkle said in an emailed statement. The US Commerce Department and the White House did not immediately respond to Reuters' requests for comment outside regular business hours.

Tesla launched a new version of the Model Y, its best-selling car, in China on Friday, hoping that a redesigned exterior and upgraded features inside will help it regain market share taken by rivals such as Xiaomi.

US Supreme Court that could determine its future in the United States. Unless ByteDance sells TikTok to a US-based company by January 19, the platform could be removed from app stores and blocked by internet providers, as mandated by a bipartisan law signed by President Joe Biden in 2023.

Federal Reserve interest rates. Shares in Australia and Japan fell, while those in South Korea were little changed. Contracts for the S&P 500 dropped for a second day after US trading was closed on Thursday to observe a national day of mourning for former President Jimmy Carter.

Electric vehicle demand is expected to keep rising this year, but uncertainty over policy changes and tariffs is clouding the forecast

World Anti-Doping Agency in 2024, making good on a long-running threat anchored in unhappiness with the global watchdog's handling of cases involving Chinese swimmers and others.

China said the European Union's measures to shield its companies from foreign subsidies are a barrier to trade and investment, marking the latest clash in the ongoing trade dispute between the two sides.

Arunachal Pradesh, Nabam Tuki, on Thursday said the Centre should take up with China the concern over the latter's move to build a mega hydel project dam on Yarlung Tsangpo in the Tibet region close to the border of the state.

electric vehicles and plug-in hybrids in the world's largest auto market hit a record high amid a brutal price war and with subsidised trade-ins for greener vehicles driving purchases.

Madison Ventures+ managing director Mitch Roschelle joins ‘Varney & Co.’ to provide professional analysis of the latest housing data.