Business News
Huawei Revamps Stores, Signals Showdown With Apple
Chinese smartphone maker Huawei is revamping its retail strategy by aggressively opening flagship stores in China. Some of the Huawei stores are just a stone’s throw away from Apple stores and aim to outdo its rival with unusual features, including a gym.
OpenAI Co-founder and Safety Expert Departs Company
OpenAI co-founder and chief scientist Ilya Sutskever is leaving the startup. The announcement of Mr. Sutskever’s departure comes one day after OpenAI unveiled its latest artificial intelligence model, GPT-4o, in a presentation that showcased a huge upgrade in the chatbot’s capabilities.
US Leads in Global Defaults but Europe Defaults Attracting More Attention: Expert
Global defaults reached a four-year high in April, according to a report by S&P Global Ratings. It increased to 18, bringing the year’s total to 55. We reviewed the data with Nicole Serino, a credit research director at S&P Global Ratings. Consumer products, media, and entertainment had the largest number of defaults. She explained that […]
Free Market, Not Tariffs, Is Solution to China Economic Threat: Economics Researcher
On May 14, the Biden administration announced new tariffs on a range of Chinese goods, electric vehicles, advanced batteries, solar cells, steel, aluminum, and medical equipment. NTD spoke with Ryan Yonk, an infrastructure expert and fellow at the American Institute for Economic Research, on the dynamics between the world’s two largest economies.
Billionaire to Bid for TikTok; Consumer Inflation Eases | Business Matters Full Broadcast (May 15)
U.S. consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend at the start of the second quarter in a boost to financial market expectations for a September interest rate cut. New data released Tuesday by the Federal Reserve Bank of New York showed that as household debt balances grew […]
Walmart to Slash Hundreds of Coporate Jobs, Ask Employees to Relocate
Walmart is reportedly asking most remote workers to move to offices and consolidating corporate staff in smaller offices to its headquarters. In a memo sent to employees Tuesday from Chief People Officer Donna Morris, the retailer giant said that changes in some parts of its business “will result in a reduction of several hundred campus […]
China’s BYD Launches Hybrid Pickup in Mexico as US Hikes EV Tariffs
MEXICO CITY—Chinese automaker BYD unveiled the Shark, a mid-size hybrid-electric pickup truck, in Mexico on Tuesday, as its regional chief brushed off new U.S. tariff hikes on Chinese EVs, saying the company was not eyeing an entry to the U.S. market. The Shark strengthens BYD’s foothold in the North American market with a vehicle aimed […]
Appeals Court Upholds EPA Biofuel-Blending Requirements
A U.S. Appeals court upheld an EPA requirement for mixing biofuel with gasoline, a requirement challenged in court by oil refiners. The U.S. Court of Appeals for the District of Columbia found that the Environmental Protection Agency (EPA) lawfully exercised its discretion to set the blend requirements for the three years in question. Under the […]
Tesla Plans to Cut Hundreds More Jobs in California, Notice to Government Says
Several hundred Tesla employees in the Bay Area are set to lose their jobs after the company notified state officials on May 13 that it will be conducting a fresh round of layoffs. The company announced in early April that it had plans to cut 10 percent of its global roughly 140,000 strong workforce, documents […]
Federal Student Loan Interest Rates to Reach 12-Year High, New Data Shows
The interest rate on new federal student loans for undergraduates during the upcoming 2024-25 school year is set to be the highest in 12 years following the U.S. Treasury Department’s 10-year note auction in May, according to new data from the Department of Education. The interest rate on federal direct undergraduate loans will be 6.53 […]
US Inflation Eases Slightly, Boosting Hope for Rate Cuts
The annual inflation rate fell slightly in April, according to the Bureau of Labor Statistics. Despite persistent price pressures from housing and gasoline in the April inflation data, investors see a ray of hope for potential interest rate cuts by the Federal Reserve in the near future. Last month, the consumer price index slowed to […]
Boeing Could Face Criminal Prosecution Over 737 MAX Crashes: Justice Department
The U.S. Department of Justice determined on May 14 that Boeing violated a deferred prosecution agreement that allowed the aerospace company to evade criminal charges after two crashes of its 737 MAX jet that killed everyone on board. Justice Department prosecutors delivered the news to a federal judge on May 14 after hosting a closed-door […]
German Chancellor on EU Tariffs for Chinese EVs
Roughly half of Chinese electric vehicle imports come from Western manufacturers, according to German Chancellor Olaf Scholz. Here’s what he said Tuesday at a joint press conference when asked about potential European Union tariffs on Chinese EVs.
Chinese Lidar Maker Sues US Government
Another Chinese company is suing the U.S. Government. The company Hesai was blacklisted by the Pentagon for its connection to the Chinese military. The ban would block the U.S. military and contractors from using Hesai’s lidar products starting in 2026.
Biden’s Tariffs Will Hinder China’s Unfair Trade Tactics: Gordon Chang
President Joe Biden on Tuesday unveiled steep tariff increases on an array of Chinese imports including electric vehicle batteries, computer chips, and medical products, as he woos American voters who give his economic policies low marks. NTD speaks to China expert Gordon Chang, author of the book “China is Going to War,” for analysis of […]
Clear Trend of Disinflation in Economy: Strategist
U.S. producer prices increased more than expected in April amid strong gains in the costs of services like portfolio management and hotel accommodation. NTD speaks to Lance Roberts, chief strategist for RIA Advisors, to break down the numbers.