BYD and Rivals in China Tell Suppliers to Cut Costs Amid Price War

Russian general reportedly dismissed amid allegations of false reports on war's progress

A senior Russian commander who was responsible for troops in Ukraine has been removed from his position, according to reports from several news outlets.

Israel's Netanyahu recommends Hezbollah ceasefire deal to his Cabinet

Israeli Prime Minister Benjamin Netanyahu said on Tuesday he was recommending that his Cabinet approve a ceasefire with Hezbollah to end hostilities in Lebanon.

Meta's stock drop tells the wrong story on earnings — so, we're boosting our price target

Don't let the after-hours stock action fool you, Meta delivered one heck of a strong quarter and rosy revenue guidance.

Business - CNBC - October 31

Estée Lauder shares plunge as China sales slump prompts dividend cut

Beauty group’s stock drops 25% after guidance withdrawn for rest of year

Business - Financial Times - October 31

U.S. Chip Toolmakers Move to Cut China From Supply Chains

Applied Materials and Lam Research are telling vendors to follow new restrictions, spurred by U.S. government pressure.

Tech - The Wall Street Journal - November 4

Steve Madden says it will cut production in China to avoid Trump tariffs

The footwear- and accessory-maker says it already has a plan in place to reduce its reliance on imports from China.

Granholm warns that cutting EV tax credits would be ‘ceding’ to China

Energy Secretary Jennifer Granholm warned Friday that President-elect Trump’s reported plans to cut consumer subsidies for electric vehicles (EVs) would benefit China. “You eliminate these credits, ...

Politics - The Hill - November 15

Election 2024: How Trump vs. Harris could shape taxes, home prices and grocery costs

Your guide to where the presidential candidates stand on key economic and money issues.

Business - MarketWatch - November 2

Hawaii has the highest cost of living in the U.S.: The state has 'really high home prices' and expensive goods, expert says

The most expensive states were found by analyzing the cost of living by The Council for Community and Economic Research.

Business - CNBC - November 3

EU leaders vow to make bloc more competitive in face of Trump threat

Budapest meeting finds consensus on need to raise growth and productivity as ‘America first’ protectionism looms. EU leaders meeting in Budapest have signed a declaration aimed at boosting the ...

World - The Guardian - November 8

Democratic rep tells Americans to 'calm down' amid concerns over Trump Cabinet picks

Democratic New York Rep. Tom Suozzi advised Americans to "calm down" as President-elect Trump's Cabinet picks continue to raise some concerns. "Let's look at what they're proposing to do and their ...

Politics - The Hill - 3 days ago

Paris agreement is working, Australian minister tells Cop29, but much deeper cuts needed by 2035

Chris Bowen also pledges A$50m to a fund to help the world’s most vulnerable people repair the damage from climate breakdown. Follow our Australia news live blog for latest updates Get our ...

World - The Guardian - November 19

BYD quarterly sales beat Tesla for first time

Warren Buffett-backed Chinese carmaker’s revenues surge 24 per cent but fierce competition slims margins

Business - Financial Times - October 30

BYD to enter South Korea in early 2025

World - Yahoo News - November 13

Google's new CFO makes earnings call debut, says company can 'push a little further' on cost cuts

In her first earnings call as Alphabet CFO, Anat Ashkenazi said more streamlining will be needed so the company can invest in AI.

Business - CNBC - October 30

Volkswagen CFO says 64% drop in profits shows ‘urgent need’ for cost cuts

The German car maker reported a sharp 12% drop in its sales in China as it said it profits were hit by higher fixed costs and €2.2 billion worth of restructuring expenses

Business - MarketWatch - October 30

UK’s borrowing costs rise as Reeves’s budget prompts fears of slower interest rate cuts

Markets conclude higher level of public spending could lead to higher inflation, making cuts in Bank of England rate less likely. . UK government borrowing costs have risen to their highest level ...

World - The Guardian - October 31

Google employees pressure costumed execs at all-hands meeting for clarity on cost cuts

Following comments on Google's earnings call about continuing cuts, employees wanted answers at the company's latest all-hands meeting.

Business - CNBC - November 1

Moderna posts surprise profit as Covid vaccine sales impress, cost cuts take hold

Moderna said its newest Covid vaccine saw benefits after winning approval in the U.S. three weeks earlier than the last iteration of the shot did in 2023.

Business - CNBC - November 7

Trump’s plan to cut taxes on Social Security benefits may cost beneficiaries more in the long run

The president-elect’s plan may do more harm than good, experts said.

Business - MarketWatch - November 8

How much would a $10,000 home equity loan cost monthly now that rates are cut?

Home equity loan interest rates are on the decline. Here's how much a $10,000 loan costs per month right now.

Barcelona mayor defends ban on tourist flats saying ‘drastic’ action needed to cut housing costs

Jaume Collboni determined to follow through with plan that he says will return 10,000 properties to city’s residents. The decision made headlines around the world, sparking surprise and threats of ...

World - The Guardian - November 19

DOGE Taps Tech Heavyweights Travis Kalanick and Marc Andreessen to Spearhead Federal Cost-Cutting Program

The Department of Government Efficiency is recruiting entrepreneurs to begin attempting to slash government spending.

Business - Inc. - Yesterday

Republicans gear up for the coming battle over $5 trillion tax cut's costs

Republicans are united on extending the 2017 tax cuts, but at odds on how to offset the cost.

Business - CNBC - Yesterday

Manchester United spent £8.6m sacking staff in Jim Ratcliffe cost-cutting drive

Club made 250 members of staff redundant in summer Total debt rises to £714m after £200m transfer spend Manchester United spent £8.6m on redundancies in the first quarter of its financial year ...

World - The Guardian - Yesterday

Spain Opens Its Doors to China as a European Trade War Looms

Spain is forging a path as a “connector” country, drawing Chinese investment as it abstained from taking a position on European tariffs on electric cars.

Business - The New York Times - October 30

As Trump Threatens a Wider Trade War, the U.S. Confronts a Changed China

The Chinese economy is more dependent on exports, making tariffs more potent, yet it’s less reliant on American markets and increasingly bent on self-sufficiency.

Business - The New York Times - November 11

FirstFT: US companies rush to cash in on Trump market rally

Also in today’s newsletter, FTC targets Microsoft and Argentina cools on Paris climate accord

World - Financial Times - November 15

China Coped With Trump's First Trade War. A Second One Will Be Tougher.

Beijing might have little choice but to reconfigure its economy should it become embroiled in a broader trade conflict.

World - The Wall Street Journal - November 15

After Trump’s Tariff Threat, Is a China Currency War Next?

While China could offset American tariffs by letting its currency fall, that might endanger Beijing’s recent efforts to stabilize the economy.

Business - The New York Times - 22 hours ago

‘No One Will Win a Trade War,’ China Says After Trump Tariff Threat

A spokesperson at the Chinese Embassy in Washington said his country is fighting fentanyl trafficking, the reason for the new promised penalty.