Shein and Temu, popular Chinese online retailers, announced price increases for US customers starting April 25th. This follows President Trump's re-imposition of tariffs on Chinese goods, reaching up to 245% on some items and ending a duty-free exemption for goods under $800. The tariffs have significantly impacted the...
Nvidia's stock plunged nearly 7% after announcing a $5.5 billion charge due to US export restrictions on AI chips to China. The restrictions require export licenses for its H20 chips, impacting sales. Despite the drop, a doji candlestick pattern suggests market indecision. Technical analysis indicates key support...
Nvidia's stock dropped nearly 7% after the US government imposed export restrictions on its H20 chips to China, leading to a $5.5 billion charge. Morgan Stanley analysts lowered revenue projections, estimating an 8-9% hit to data center revenue. This comes amid scrutiny of Nvidia's relationship with Chinese AI...
Mark Zuckerberg testified in a US FTC antitrust lawsuit against Meta, defending the acquisitions of WhatsApp and Instagram. He argued that he bought WhatsApp to adapt to shifting communication trends and leverage against Apple and Google, while Instagram's acquisition was to prevent potential future competition. Zuckerberg claimed both acquisitions...
Meta CEO Mark Zuckerberg testified during an antitrust trial that Snapchat's growth would have been faster had Meta acquired it in 2013 for $6 billion. Zuckerberg's testimony supports the FTC's argument that Meta strategically acquires rivals to maintain its social media dominance. The FTC seeks to force Meta to...
The UK government took emergency control of the Scunthorpe steel plant, preventing its potential closure by Chinese owner Jingye. This action avoids Britain becoming the only G7 nation unable to produce virgin steel. The government's intervention, possibly influenced by upcoming elections and geopolitical concerns, raises questions about its...
Chinese suppliers are using TikTok to circumvent President Trump's tariffs on goods from China. Videos showcasing purported manufacturers of luxury brands like Lululemon and Chanel, offering significantly lower prices, have gone viral. However, experts doubt the legitimacy of these suppliers, citing non-disclosure agreements and the likelihood of counterfeits. ...
Lego parent company Kirkbi's vice chair, Michael Halbye, 64, died Saturday from internal bleeding after a skiing accident in Switzerland. Halbye, who joined Kirkbi's board in 2020 and became vice chair in 2022, was also a friend of the Danish royal family and served on Queen Mary's foundation. ...
Japan's top trade negotiator is in Washington for talks with the Trump administration on tariffs, marking the first bilateral meeting since Trump's recent tariff announcements. The talks cover tariffs, military support costs, and trade fairness. Japan's status as the first country to negotiate gives it a unique position,...
Amid escalating trade tensions with the US, China has appointed Li Chenggang as its new trade envoy. Li, a former WTO ambassador, replaces Wang Shouwen. This comes as China's economy, while showing 5.4% GDP growth in Q1, faces the impact of US tariffs. Chinese officials denounce US tariffs...
