China EV Makers Post Higher April Sales Amid Price War
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Sales of newly built homes tank in April, as prices and interest rates rise
Higher mortgage rates were hampering sales of newly built homes in April.CNBC - Business -
XPeng’s stock soars after EV maker’s sales beat by widest margin in 2 years
XPeng’s stock powered higher Tuesday, after the China-based electric vehicle maker reported first-quarter results that beat expectations by wide margins, fueled by higher deliveries and cost-cutting.MarketWatch - Business -
US existing home sales drop 1.9% in April, pushed lower by high rates and high prices
Sales of previously occupied U.S. homes sank last month, pushed down by high mortgage rates and rising pricesABC News - Top stories -
April a washout for shops as sales slump
Retail sales fell by much more than expected last month as heavy rain kept shoppers at home.BBC News - Top stories -
China's Youth Unemployment Eased in April
China’s youth unemployment rate declined in April, in what will likely be welcome news for Beijing as it steps up policy support for the economy.The Wall Street Journal - World - China -
Tesla cuts production of Model Y in China as brutal price war hits demand: report
The Texan carmaker has slashed production of its Model Y car in its Shanghai gigafactory as sharp price competition from domestic rivals like BYD Auto has hit demandMarketWatch - Business - China -
The average price of EVs is dropping—here’s how much
Tesla contributed to the drop as it cut prices in the last year, but overall, lower EV prices have not yet generated appreciably higher sales volume.MarketWatch - Business -
A Chinese Phone Maker Did Something Apple Couldn't: Make an EV
Xiaomi makes rice cookers, smartphones, lamps and now a car, showing how low the barriers to entry have become in the world of electric vehicles.The Wall Street Journal - World - Apple -
A Chinese Phone Maker Did Something Apple Couldn't: Make an EV
Xiaomi makes rice cookers, smartphones, lamps and now a car, showing how low the barriers to entry have become in the world of electric vehicles.The Wall Street Journal - Business - Apple -
Lucid’s stock rises, as EV maker says it will cut 400 jobs in restructuring
The move comes after a wider-than-expected first-quarter loss amid a weak environment for electric vehicles.MarketWatch - Business -
How Chinese EV makers will respond to steep US tariffs
Manufacturers are likely to target expansion in Europe with luxury models that offer new features to consumersFinancial Times - World -
JD.com Beat Estimates With Higher Profit, Sales
Chinese e-commerce giant JD.com posted a rise in quarterly profit, beating estimates as its core businesses grew despite fierce competition with peers such as Alibaba and PDD.The Wall Street Journal - Business -
China’s PC makers are experiencing an AI revival
Lenovo and Huawei stand to be the biggest beneficiaries of new demand in the countryFinancial Times - World - China -
U.S.-China tensions are blocking the road for EV manufacturers
Biden administration is confident that U.S. car companies will adapt to new tariffs on Chinese-made products.MarketWatch - Business - China -
Home sales slipped unexpectedly in April, despite big gains in supply
Inventory in April rose 9% month to month and was up 16% from the year before, but still just a 3.5-month supply at the current sales pace.CNBC - Business -
Home sales slipped unexpectedly in April despite big gains in supply
Sales of previously owned homes fell 1.9% in April from March to 4.1 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors.NBC News - Top stories -
Home sales fell in April. Is now a good time to buy?
Home sales appear to have fallen in April, according to new data from the National Association of Realtors. CBS News business analyst Jill Schlesinger breaks down the current trends in the real estate market.CBS News - Top stories -
British retail sales fall in April as rain deters shoppers
Volume drops 2.3% compared with forecast of 0.4% declineFinancial Times - Business -
Canada Retail Sales Fell 0.2% in March, Recovered in April
Early signs show consumers in Canada were spending again last month, snapping a run of sluggish retail sales through the first quarter.The Wall Street Journal - World -
Apple Slashes iPhone Prices in China
As chief Chinesecompetitor Huawei steps up competition, Apple offers huge discounts to stem sales slump.Inc. - Business - Apple -
SPDR Gold Extends Drop Back
Since finding a record high earlier this week, front-month gold futures have turned lower for two consecutive sessions.The Wall Street Journal - World -
China's consumption and investment slowed in April, while industrial output beat expectations.
China’s consumption and investment slowed in April, while industrial output beat expectations.The Wall Street Journal - World - China -
Yikes! Gold’s $2,400 price tag is even higher than you think.
This year, gold has proven a better investment than stocks, bonds or real estate.MarketWatch - Business -
Flight delays, higher prices complicate holiday weekend travel
Memorial Day travelers faced widespread flight delays on Thursday across the country but there were few canceled flights, raising hopes that Friday’s bigger crowds won’t have the same experience. By Thursday evening, more than 6,000 flights had ...The Hill - Politics -
Oil prices end higher, but fall more than 2% for the week
Oil futures finish higher Friday, but notch losses for the week.MarketWatch - Business -
Gold Prices Drift Higher Ahead of U.S. Inflation Data
Gold futures nudged higher, with the focus shifting to the next U.S. PCE price index release, the Federal Reserve’s preferred measure of inflation.The Wall Street Journal - World -
Lenovo's Profit More Than Doubled on Higher Computer Sales
The world’s largest PC maker said quarterly profit more than doubled, though it noted that demand weakened from the preceding quarter.The Wall Street Journal - World -
Home builders are slashing prices to lure home buyers, but it may not be enough
New home sales at 634,000 annual rate in April, versus 665,000 in prior month.MarketWatch - Business -
Lenovo's Profit More Than Doubled on Higher Computer Sales
The world’s largest PC maker said quarterly profit more than doubled, though it noted that demand weakened from the preceding quarter.The Wall Street Journal - Business -
Israel war cabinet minister vows to quit if there is no post-war plan for Gaza
Recent weeks have seen an increasingly public rift over how Gaza should be governed after the war.BBC News - Top stories - Israel -
Angry Tesla Owners Will Take EV Maker to Court Over Self-Driving Autopilot Claims
A judge declined to throw out the class action suit against Tesla brought by buyers who said the company's self-driving tech forecasts were misleading.Inc. - Business - Tesla -
Chinese EV maker Xpeng aims to deliver its first flying car in 2026
Xpeng AeroHT, introduced the Land Aircraft Carrier, a large truck with a detachable flying two-seater passenger electric drone inside.CNBC - Business -
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EV maker Tesla breaks ground on Megapack energy storage battery factory in Shanghai
Chinese state media have reported that electric vehicle maker Tesla has begun construction of a factory in Shanghai to make its Megapack energy storage batteriesABC News - Tech - Tesla -
Chinese EV makers continue aggressive push into Europe under growing threat of tariffs
Nio, Xpeng and BYD have continued their European expansion even as an ongoing EU probe into Chinese electric vehicle subsidies could result in tariffs.CNBC - Business -
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China Evergrande's EV Unit Shares Soar on Potential Investor Support
Shares of China Evergrande Group’s electric-vehicle unit surged, fueled by optimism that some businesses may survive despite the property giant’s liquidation.The Wall Street Journal - World - China -
Shares of China Evergrande’s EV unit soar on potential investor support
China Evergrande New Energy Vehicle shares jumped 92% on Monday after the EV startup said liquidators were in talks to sell a 29% stake in the unit to an unnamed buyer.MarketWatch - Business - China -
China's New Sovereign Bond Prices Go Haywire
The price of China’s new 30-year sovereign bonds has whipsawed since their recent debut, as small investors pile into a bet seen as safer than the country’s property and equities markets.The Wall Street Journal - World - China