News
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Apple's China challenge deepens as foreign phone sales slump
BEIJING, Jan 3 (Reuters) - Shipments to China of foreign-branded smartphones, including Apple Inc's AAPL.O iPhone, fell by 47.4% in November from a year earlier, according to data released on Friday from a government-affiliated research firm.Reuters
Fri, Jan 3
UPDATE 4-Tesla's China sales hit record high in 2024, bucking global decline
Tesla's 2024 China sales rise 8.8% to record high Contrast with global fall points to China as only robust market, says analystChina outperformance tracks trend in global EV sector Adds analyst quote in paragraph 5, China market significance data in paragraph 6 BEIJING, Jan 3 (Reuters) - U.S. ele...Reuters
Fri, Jan 3
EXPLAINER-Latest on proposed $15 bln merger of Nippon Steel, US Steel
U.S. President Biden blocks merger of Nippon Steel, U.S. SteelBiden, Trump had both previously voiced opposition to dealUS Steel has said deal failure would risk union jobsAdds background, details on break-up fee; paragraph 18 Jan 3 (Reuters) - U.S. President Joe Biden has decided to officially b...Reuters
Fri, Jan 3
UPDATE 1-Hyundai Motor, Kia Motor see 2025 sales inch up after missing 2024 targets
Adds 2024 salesSEOUL, Jan 3 (Reuters) - South Korea's Hyundai Motor Co 005380.KS and affiliate Kia Corp 000270.KS aim to grow their combined global sales by 2% in 2025, after reporting falls in 2024 sales and missing their targets. The automakers, which together rank third in global vehicle sal...Reuters
Fri, Jan 3
UPDATE 6-Biden to block U.S. Steel sale to Japanese buyer, source says
White House declines comment on reports of Biden's decisionCFIUS referred decision to Biden amid concern over U.S.-Japan tiesNippon Steel offered concessions, including U.S. HQ move and production veto powerAdds lawyer's comment, details; paragraphs 16,17,22,23By David Shepardson, Tim Kelly and Katy...Reuters
Fri, Jan 3
Tesla's China sales rise to record high in 2024, bucking global decline
BEIJING, Jan 3 (Reuters) - U.S. electric vehicle maker Tesla TSLA.O said on Friday its China sales rose 8.8% to a record high of more than 657,000 cars in 2024, a strong performance in a competitive market in a year when its annual global deliveries fell for the first time.Reuters
Fri, Jan 3
UPDATE 1-Trouble in China's shopping paradise as Hainan duty-free spending tumbles
Duty-free sales in Hainan fell 29.3% last yearThe number of shoppers visiting Hainan fell 15.9% in 2024Global luxury, beauty brands have invested heavily on islandSlump may affect plan to make entire island a duty-free zoneAdds beauty industry impact, expert comments; paragraphs 5-7 BEIJING, Jan ...Reuters
Fri, Jan 3
BREAKINGVIEWS-Politicians will hinder central banks’ easing plan
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.By Francesco Guerrera LONDON, Jan 3 (Reuters Breakingviews) - In 2025, the global economy will be in a much better place than at any time since the outbreak of Covid-19. Growth will be solid, and inflation will f...Reuters
Fri, Jan 3
EXPLAINER-Latest on proposed $15 bln merger of Nippon Steel, US Steel
U.S. President Biden blocks merger of Nippon Steel, U.S. SteelBiden, Trump had both previously voiced opposition to dealUS Steel has said deal failure would risk union jobsAdds details Jan 3 (Reuters) - U.S. President Joe Biden has decided to officially block Nippon Steel's proposed purchase of U...Reuters
Fri, Jan 3
CORRECTED-UPDATE 2-Biden to block U.S. Steel sale to Japanese buyer, Washington Post reports
Corrects attribution for timing of Biden decision in paragraph 4WASHINGTON, Jan 2 (Reuters) - U.S. President Joe Biden has decided to officially block Nippon Steel's 5401.T proposed purchase of U.S. Steel X.N, the Washington Post reported, citing two administration officials who were not authorized ...Reuters
Fri, Jan 3
China's central bank likely to cut rates in 2025, FT reports, as part of broader policy shift
China's central banks says likely to cut interest rates in 2025Shift from quantitative objectives to cost of credit targetingLast cut main 7-day reverse repo rate to 1.5% from 1.7% in SeptChina 10-and 30-year treasury yields both hit record lowsAdds comments from China's central bank in paragraphs 3Reuters
Fri, Jan 3
Tesla's China sales rise to record high of 83,000 in December
BEIJING, Jan 3 (Reuters) - Tesla TSLA.O's electric vehicle sales in the world's largest auto market increased in December by 12.8% from a month earlier to a record high of 83,000 units, according to Tesla China.The U.S. automaker's EV sales in China also logged their best year in 2024 with a 8.8% riReuters
Fri, Jan 3
China’s NDRC: Fully confident in achieving continued economic recovery in 2025
The National Development and Reform Commission (NDRC), China’s state planner, said in a statement on Friday that it is “fully confident in achieving continued economic recovery in 2025.” Additional takeaways Will sharply increase funding from ultra-long treasury bonds this year to support "two new"
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Fri, Jan 3
UPDATE 1-China's central bank might cut interest rates from current level of 1.5% in 2025, FT reports
Adds further context throughout BEIJING, Jan 3 (Reuters) - China's central bank said it was likely it would cut interest rates from the current level of 1.5% “at an appropriate time” in 2025, the Financial Times reported on Friday citing comments the bank made to the newspaper.The People's Bank o...Reuters
Fri, Jan 3
