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'Rational' monetary policies are back, says Turkey's finance chief, as he seeks to stabilize inflation-ridden economy

Turkey had kept interest rates low amid soaring inflation, against conventional wisdom, leading investors to desert its bond market.

tuesday 10

Fortune

Bloomberg

TurboTax lost 1 million customers just when the IRS introduced its own free tax filing option and its stock is plummeting

Intuit Inc. shares fell the most in a year and a half on concerns that demand for its software is weakening.

24.05.2024 10

Fortune

Bloomberg

Chinese state media hints that Beijing might ‘hit back’ against European probes by targeting wine, dairy and aircraft

The EU is investigating Chinese subsidies across a range of industries, threatening tariffs for electric carmakers and keeping firms out of rail and...

20.05.2024 40

Fortune

Bloomberg

Dow shoots past 40,000 for the first time on hopes that Fed will follow cooler inflation print with rate cuts

"All traders wanted the past year was for the Fed to signal that interest-rates have peaked,” one Wall Street pro said.

16.05.2024 60

Fortune

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Who will be HSBC's next CEO? An internal candidate seems likely for Europe's largest bank

Current CEO Noel Quinn announced his retirement last month.

16.05.2024 60

Fortune

Bloomberg

Smartphone giant Xiaomi is making a new move on Tesla

An SUV would mark a big expansion of Xiaomi’s $10 billion EV endeavor, spearheaded personally by billionaire co-founder Lei Jun.

13.05.2024 20

Fortune

Bloomberg

Tesla’s China job cuts speed up as Elon Musk faces pressure to win back share in world’s biggest auto market

The latest move affects a range of departments including customer service staff, engineers, production line workers, and the logistics team at...

09.05.2024 20

Fortune

Bloomberg

Alibaba’s home city says it will no longer check if homebuyers are qualified

Developer stocks surged after Hangzhou, the capital of eastern Zhejiang province, said it will remove eight-year-old restrictions on residential...

09.05.2024 40

Fortune

Bloomberg

Spain's Sabadell rejects BBVA takeover bid that would create a $75 billion bank

Sabadell's shares rose 7% in the week since it received its first surprise bid, while BBVA stock fell 8%.

07.05.2024 60

Fortune

Bloomberg

China’s tourists are traveling again but they are spending less than before COVID

The figures add to evidence showing Chinese households remain cautious with consumption despite a recent rebound in economic growth driven by a pickup...

07.05.2024 60

Fortune

Bloomberg

BP quarterly profits drop 45% to $2.7 billion but share buybacks stay

The British oil major also plans to deliver $2 billion in cost savings by 2026.

07.05.2024 80

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Bloomberg

Russian gas giant Gazprom, hammered by Western sanctions, makes first loss in 24 years

Revenue from gas fell by 40% and shares fell as much as 4.4%, the steepest decline in over a year. The company's biggest shareholder—the Russian...

03.05.2024 8

Fortune

Bloomberg

Elon Musk makes surprise China visit after delaying India trip as Tesla seeks Beijing's OK for Full Self-Driving software

Tesla vehicles have been banned from China’s military compounds and some other government venues in the past over cameras used for...

28.04.2024 20

Fortune

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Chinese suppliers shrug off U.S. tariff threats as customers flock to their cheap goods

Even buyers looking for alternatives to China think the world's second-largest economy will still be their top source.

24.04.2024 50

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Beijing says U.S. criticism of Chinese overcapacity is ‘naked economic coercion and bullying’

The trip comes as several issues test a stabilization of ties, which frayed last year following accusations that China flew a spy balloon over the...

23.04.2024 10

Fortune

Bloomberg

China's demand for gold is unstoppable as consumers, investors, and the central bank fuel a record-breaking price surge

“There isn’t much alternative in China. With exchange controls and capital controls, you can’t just look at other markets to put your money...

21.04.2024 20

Fortune

Bloomberg

Luxury brands have a new headache in China: Stingy shoppers are returning their goods, erasing up to 75% of their sales value

This unusually high rate of returns — well above the 20% to 30% that consultancy Sanford C. Bernstein considers normal in the global luxury industry...

17.04.2024 80

Fortune

Bloomberg

German chancellor walks tightrope as he travels to China to discuss dumping, overproduction, and copyright violations

If Beijing doesn’t heed European warnings to end discriminatory business practices, Brussels will have no choice but to escalate trade defense...

15.04.2024 30

Fortune

Bloomberg

One of China's top bankers steps down after his brother, known as the 'broker butcher,' becomes the country's chief markets regulator

Wu Qing, head of the China Securities Regulatory Commission, is the older brother of Wu Bo, president of China International Capital Corp.

11.04.2024 30

Fortune

Bloomberg

Chinese cement company’s shares mysteriously lose 99% of their value in just 15 minutes

China Tianrui Group Cement Co. said trading in its Hong Kong-listed shares has been halted from 9 a.m. local time, pending an announcement related to...

10.04.2024 20

Fortune

Bloomberg

Man stabs Russian governor in the stomach because he 'disliked' him – the most dangerous assault on a high-ranking official in over a decade

The attack took place in Murmansk where Russia’s biggest companies, such as MMC Norilsk Nickel PJSC and fertilizer producer PhosAgro PJSC operate.

05.04.2024 10

Fortune

Bloomberg

Tesla's China rivals cut prices to take advantage of Musk carmaker's new hike of Model Y price

Tesla shipments recorded a decline in the first two months of 2024 from the same period a year ago while overall passenger vehicle sales in China...

01.04.2024 30

Fortune

Bloomberg

Baltimore Bridge expected to trigger "one of the largest marine losses in history", says Lloyd's of London

A multi-billion dollar loss is on the cards, but the CEO of the world's largest insurance marketplace says the costs are "manageable".

28.03.2024 30

Fortune

Bloomberg

Daniel Kahneman, the psychologist who won a Nobel for upending economics, dies at 90

Kahneman's work casting doubt on the rationality of human decision-making helped spawn the field of behavioral economics.

27.03.2024 50

Fortune

Bloomberg

China’s President Xi meets with U.S. CEOs from FedEx, Blackstone and Qualcomm as Beijing tries to boost confidence in its economy

China is trying to show it welcomes foreign businesses, but whipsawing tensions with Washington, a shaky economic recovery and raids on consulting...

27.03.2024 9

Fortune

Bloomberg

Apple CEO Tim Cook praises Tesla-beating BYD on China visit, pushes AI-infused environmental theme as geopolitical tensions loom

Apple has had to navigate an escalated ban on iPhones in Chinese government-run or state-backed businesses.

24.03.2024 40

Fortune

Bloomberg

China woos CEOs of Apple, chipmakers, pharma giants as geopolitical tensions mount: ‘The risk-reward has changed’

Foreign businesses’ direct investment into China last year increased by the lowest amount since the early 1990s.

23.03.2024 10

Fortune

Bloomberg

China is investigating the role of Big 4 accountant PwC in $78 billion Evergrande fraud case

The country’s securities regulator this week accused Evergrande’s main onshore subsidiary Hengda Real Estate Group of recognizing sales in advance...

22.03.2024 10

Fortune

Bloomberg

Tesla has cut EV production at its China plant amid sluggish sales growth and intense competition in world’s biggest car market

The automaker told employees to lower production of both the Model Y and Model 3 by working five days a week instead of the usual 6 1/2 days, sources...

22.03.2024 10

Fortune

Bloomberg

Putin prompts his vision after victory in presidential elections

Putin dismissed prospects for a halt to the war in a televised interview last week, saying he’s not interested in a “pause” that would allow...

18.03.2024 10

Fortune

Bloomberg

EV competition in China is so fierce that built-in fridges are passé and Tesla-beating BYD offers drones and gaming-friendly detachable steering wheels

"While legacy automakers still only focus on the drivability of a car, Chinese companies are not satisfied with that."

11.03.2024 40

Fortune

Bloomberg

Britain has the most ‘fragile firms’ in Europe

The figures follow official data showing the U.K. slipped into a recession at the end of last year, with many analysts expecting stagnation for the...

28.02.2024 20

Fortune

Bloomberg

Self-made billionaire who became China's richest man by winning a corporate war with France's Danone dies at 79

Zong Qinghou, the founder and chairman of Wahaha Group, died of illness at a hospital on Sunday. He never attended high school.

27.02.2024 20

Fortune

Bloomberg

'Markets are brutal': China's hedge funds flail in pre-Lunar New Year 'quant quake' as authorities promise more regulation

Quants had "one sleepless night after another", according to one fund, as they dealt with market swings and government intervention.

23.02.2024 4

Fortune

Bloomberg

China just recorded the lowest level of foreign direct investment since 1993

China’s direct investment liabilities in its balance of payments stood at $33 billion in 2023, according to SAFE data, 82% lower than the 2022...

20.02.2024 30

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Bloomberg

Putin praises ‘predictable’ and ‘old-style’ Biden as more reliable alternative for Russia than Trump

In his first public comments on the American presidential election.

15.02.2024 20

Fortune

Bloomberg

China's $7 trillion stock rout is getting so bad that officials are briefing President Xi Jinping on how they plan to rescue markets

China- and Hong Kong-listed equities have lost $7 trillion in value since their peaks in 2021.

06.02.2024 10

Fortune

Bloomberg

King Charles is being treated for cancer discovered in the course of 'routine' prostate treatment, and will step back from public duties

Prince Harry has spoken to the king about the diagnosis and will travel to the UK from California to see his father in the coming days, according to...

05.02.2024 3

Fortune

Bloomberg

Russian rockers opposed to Ukraine war face deportation home from Thailand as Kremlin aims to ‘frighten everyone living abroad’

Members of Bi-2, a self-exiled rock group, may face criminal charges in Russia, alarming Kremlin opponents who fled abroad.

28.01.2024 30

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Bloomberg

Nvidia CEO Jensen Huang made a quiet Lunar New Year’s visit to China as the almost $1.5 trillion chipmaker tries to navigate Biden’s chip controls

Huang has warned that U.S. efforts to kneecap China's chip industry could backfire, instead driving the country to make its own semiconductors.

22.01.2024 10

Fortune

Bloomberg

'Nobody’s heard anything at all': Jeff Bezos promised $100 million after Maui wildfire but locals are mystified about where it's going

A spokesperson for Bezos said he and his fiancée have given $15.5 million, but declined to name the recipients—and local officials don't know where...

19.01.2024 10

Fortune

Bloomberg

China’s population continued its record plunge in 2023 as total falls 2.1m on COVID deaths and low birth rate

The Chinese population started shrinking in 2022 for the first time since 1961, the final year of the Great Famine under former leader Mao Zedong.

17.01.2024 9

Fortune

Bloomberg

China’s Xi touts 'manufacturing prowess' in electric vehicles and passenger planes amid growing signs of weakness in economy

Investor confidence has plummeted as concerns over Beijing’s opaque policymaking persist.

01.01.2024 3

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Bloomberg

OTHERS SAY: Don’t give in to gloom on Ukraine

28.12.2023 8

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Bloomberg

Tesla plans to roll out revamped Model Y next year in bid to beat increasingly hot competition in China

Elon Musk is facing a headache as rivals in China ramp up their market share.

27.12.2023 30

Fortune

Bloomberg

'It's like Lego.' German entrepreneur seeks $269 million to revamp container ships for new modular floating hospitals

Health-care entrepreneur Ulrich Marseille seeks to fund a new venture that will build and operate customized hospital ships to provide emergency...

19.12.2023 10

Fortune

Bloomberg

OTHERS SAY: Let’s make a deal (and save Ukraine)

18.12.2023 20

Arkansas Online

Bloomberg

China's middle class battered by real-estate meltdown and it 'might just be the beginning of more wealth losses'

Household wealth is melting away for many as the world’s second-largest economy struggles to regain momentum.

18.12.2023 5

Fortune

Bloomberg

China’s deflation fears intensify as consumer prices fall at steepest pace in three years

Deflation is dangerous for China because it can lead to a downward spiral of economic activity.

09.12.2023 8

Fortune

Bloomberg

'You cannot taser the housing crisis': Ireland shaken by rioting Gen Z Dubliners lashing out amid anti-immigrant disinformation

“A lot of the stuff around immigration boils down to housing,” says housing policy analyst Lorcan Sirr.

06.12.2023 6

Fortune

Bloomberg

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