Business

Wan Gang, the visionary behind China’s electric vehicle wave, sees European collaboration as a promising way forward. HEFEI, China — Wan Gang, widely recognized as the architect of China’s electric vehicle (EV) strategy, suggested Wednesday that Chinese investment in Europe’s EV industry could benefit both regions amid ongoing trade disputes. “I think the governments of China and the European Union are now considering how, through negotiations, they can combine investment with commodity trade,” said Wan Gang, currently president of the China Association for Science and Technology. Wan made the remarks via an official English translation during a panel at the World Economic Forum’s “Summer Davos” meeting in Dalian, China. Representatives from China’s Foreign Ministry and the European Commi...

Cars are parked in the parking lot of a Chevrolet dealership in Chicago, Illinois, on June 20, 2024. A cyber attack on CDK Global, a software provider that assists dealers in managing sales and service, disrupted operations of approximately 15,000 dealerships in the United States and Canada. DETROIT – U.S. auto sales are expected to increase 2.9% in the first half of this year compared to the previous year. However, there are concerns that the auto industry may struggle to maintain its momentum in the final six months of the year. Cox Automotive reports that vehicle inventory levels are rising, incentives are increasing, and uncertainties surrounding the economy, interest rates and the U.S. presidential election are growing in the second half of the year. The automotive data and...

General view of the Bank of England building in London. LONDON – The Bank of England announced its decision to keep interest rates stable at its June meeting, but described the choice as “finely balanced” after the UK reached its 2% inflation target. Money market prices pointed to a near 50% chance of a rate cut in August as investors interpreted a subtly dovish message. The central bank's key rate stands at 5.25%, its highest level in 16 years, and has been held since August. Seven members of the monetary policy committee voted in favor of maintaining the rate, while two favored a 25 basis point cut, mirroring the outcome of the May meeting. One basis point represents one hundredth of a percentage point. In its statement, the MPC stressed that inflation had reached the central ...

A recent survey by a Chinese business group in the United States shows that Chinese companies are still interested in doing business in the United States, despite the difficult times. Most of the companies surveyed (nearly 60%) want to continue investing the same amount of money in the United States, and some (30%) even want to invest more. The survey also found that many Chinese companies are concerned about the relationship between the United States and China and the overall health of the U.S. economy. More than 60 percent of respondents believe the economic environment in the United States is getting worse. There is also much more concern (93 percent compared to 81 percent last year) that the United States and China are unable to work well together. The US government has been making it...

General view of the Bank of England building in London. LONDON – The Bank of England announced its decision to keep interest rates stable at its June meeting, but described the choice as “finely balanced” after the UK reached its 2% inflation target. Money market prices pointed to a near 50% chance of a rate cut in August as investors interpreted a subtly dovish message. The central bank's reference rate is 5.25%, the highest level in the last 16 years, maintained since August. Seven members of the monetary policy committee voted in favor of maintaining the rate, while two favored a 25 basis point cut, mirroring the outcome of the May meeting. One basis point represents one hundredth of a percentage point. In its statement, the MPC stressed that inflation had reached the central bank's ta...

A Delta Air Lines Boeing 767 lands at JFK Airport as Delta and United compete for luxury fliers A Delta Air Lines Boeing 767 passenger plane from Dublin arrives at New York's JFK International Airport, with the iconic Manhattan skyline in the background on February 7, 2024. Charly Triballeau | Afp | Getty Images Delta Air Lines, the country's most profitable airline, faces the challenge of maintaining its top position. The airline's unit revenue, the amount earned per seat flown one mile, surpassed that of its competitors last year. In 2024, Delta's stock price increased nearly 23%, outperforming other airlines in the volatile sector and outperforming the S&P 500 Index. It expects a potential 50% increase in free cash flow this year, reaching between 3 and 4 billion dollars. ...

A Delta Air Lines Boeing 767 lands at JFK Airport as Delta and United compete for luxury fliers A Delta Air Lines Boeing 767 passenger plane from Dublin arrives at New York's JFK International Airport, with the iconic Manhattan skyline in the background on February 7, 2024. Charly Triballeau | Afp | Getty Images Delta Air Lines, the country's most profitable airline, faces the challenge of maintaining its top position. The airline's unit revenue, the amount earned per seat flown one mile, surpassed that of its competitors last year. In 2024, Delta's stock price increased nearly 23%, outperforming other airlines in the volatile sector and outperforming the S&P 500 Index. It expects a potential 50% increase in free cash flow this year, reaching between 3 and 4 billion dollars. ...

Related media - Connected media Mr. Nedohin raised his arms in celebration. A few minutes later, he cut to a video of a rocket blasting into the sky, with Mr. Trump photoshopped onto it. “We are holding Trump stocks,” he declared. “We are now financial investors in him.” Mr. Nedohin is one of hundreds of thousands of amateur investors who own shares of Trump Media, convinced that its sole platform, Truth Social, will become one of the world’s most popular and profitable social media sites. In recent months, tens of thousands of Trump fans have tuned into Mr. Nedohin’s webcasts, where he exhorts viewers to invest in the company, arguing that “Trump always wins in the long run.” The enthusiasm from Mr. Nedohin and other Trump supporters has turned Trump Media into the latest “meme stoc...

Linked media - Connected media A spokesman for the U.S. attorney’s office declined to comment. Matthew Hiltzik, a spokesman for Ohtani, referred to the player’s detailed explanation he gave to the media two weeks ago, when Ohtani said Mizuhara had stolen from him and he promised to cooperate fully with the federal and Major League Baseball investigations. “I never bet on baseball or any other sports or never have asked somebody to do that on my behalf,” Ohtani said. “And I have never went through a bookmaker to bet on sports. Up until a couple days ago, I didn’t know this was happening.” The allegations about the theft surfaced when the Dodgers were in Seoul to open the season with games against the San Diego Padres. Interest in the team has been intense since it signed Ohtani to a 1...

Related media - Related media A trained accountant, Mr. Leibner was described in a 1989 profile by Ben Yagoda in The New York Times Magazine as an idiosyncratic character with a “remarkable emotional range.” “He can be plaintive, cajoling, jocular, terse, profane, sentimental, jovial, respectful, dismissive, analytical or expansive: The one constant is the strain of his native Brooklyn in his voice,” Mr. Yagoda wrote. He was also known for telling incredibly dirty jokes. Andrew Heyward, a former president of CBS News, said in a phone interview: “It would have been easy to dismiss him as a Damon Runyonesque showman, but when it came to actual negotiations, he’d come in, sit on the couch with a legal pad and pen, and we’d go through the details together. He was scrupulously detailed an...