From the grocery store to the gas pump, many people are feeling the strain of higher prices. With that, I asked Metro Detroiters what expenses they've been cutting back on this year.
Chinese electric-vehicle (EV) makers' drive to go global hit a snag after Beijing urged them to avoid investing in countries like India and Turkey. The Ministry of Commerce convened executives from more than a dozen electric car makers in July, under so-called "window guidance", to discuss the risks of building plants abroad, according to Bloomberg. Two industry officials with knowledge of the situation confirmed the meeting took place and said the ministry told carmakers to better protect their
China's commerce ministry has warned the country's carmakers of the risks of making auto-related investments overseas at a recent meeting, said two people briefed about the matter, as they seek global expansion to counter slowing growth in their home market. At a meeting held in early July, the ministry told local carmakers not to invest in India, citing a directive from the central government, "strongly advised" against investing in Russia and Turkey, and used a more gentle tone to highlight risks in building factories in Europe and Thailand, one of the people said. It also encouraged carmakers to use overseas factories for final vehicle assembly with knock-down components exported from China to mitigate potential risks stemming from geopolitical issues, said the person.
Dollarama Inc.'s food aisles may have expanded far beyond sweet treats or piles of gum by the checkout counter in recent years, but its chief executive maintains his company is "not in the grocery business," even if it's keeping an eye on the sector.
A newly revealed patent from Chinese lithography systems maker Shanghai Micro Electronics Equipment (SMEE) shows how domestic firms could progress in the local advanced lithography tools market despite US sanctions. The "extreme ultraviolet [EUV] radiation generators and lithography equipment" patent, filed in March 2023, was published publicly on Tuesday and is still being vetted by the China National Intellectual Property Administration, according to a record from company registry website Qich
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Berkshire Hathaway Vice Chairman Ajit Jain sold $139 million of Berkshire stock on Monday, reducing his ownership in the company by more than 50%, a sale that could be viewed negatively by investors. Jain, a Berkshire vice chairman and head of the company’s large insurance operations, sold 200 Berkshire Class A shares at an average price of $695,418 on Monday, according to a Form 4 filing with the Securities and Exchange Commission late Wednesday. Jain sold the Berkshire stock near the recent peak of around $725,000 per class A share.
Russian President Vladimir Putin said on Wednesday that Moscow should consider limiting exports of uranium, titanium and nickel in retaliation for Western sanctions. Putin's remarks to government ministers prompted a rise in nickel prices and drove shares in uranium mining firms higher. In televised comments, he said such restrictions could also be introduced for other commodities, and noted that Russia was a major producer of natural gas, diamonds and gold.
TORONTO — The U.S. Consumer Financial Protection Bureau has ordered TD Bank Group to pay US$28 million for repeatedly sharing inaccurate, negative information about its customers in the latest reprimand of the bank by regulators.
Former Air Canada COO Duncan Dee says a pilot strike would have an impact on more than 600 flights every day and travellers would have limited options to re-book travel plans.
TORONTO — Royal Bank of Canada says Katherine Gibson will take over the role of chief financial officer permanently, effective immediately.
Commercial real estate loans hurt regional banks last year. Shares of a similar REIT, Blackstone Mortgage Trust are down 13% since December. Back then, Blackstone vigorously disputed skeptics like shortseller Carson Block, who warned that Blackstone’s troubled borrowers would force the REIT to cut its dividend payout in 2024’s second half.
Penny Davidi sued the 'Vanderpump Rules' stars for allegedly not upholding the terms of their written partnership. Now Madix and Maloney are calling for a trial by jury
BRUSSELS (Reuters) -The European Commission said on Thursday it had received offers from electric vehicle makers in China for minimum import prices into the European Union as a way of avoiding tariffs, but had rejected all of them. The Commission, which is conducting an anti-subsidy investigation into Chinese-built EVs, said several EV exporters had submitted price undertakings - a commitment by an exporter to respect minimum import prices in order to offset subsidies.
An interim manager will be in charge.
India's push to become a factory titan has hit a snag: to become a credible alternative to China for global firms, it first needs to warm up to its long-time rival. Ties between the world's two most populous countries have been strained since a deadly Himalayan border clash in 2020, slowing the exchange of capital, technology and talent, despite exploding demand for electric vehicles, semiconductors and artificial intelligence. The Modi government's heightened vetting of all Chinese investment over this period effectively turned away billions of dollars from the likes of BYD, Great Wall Motor and created new layers of red tape for Indian firms with Chinese stakeholders.
Chinese firms, which needs the raw material to make batteries for the world's largest electric vehicle (EV) market, are hitting resistance in some Latin American countries that hold the keys to the world's reserves of the soft, silvery-white alkali metal. The miners face environmental, protectionist and occasionally political barriers, analysts said, with some issues leading to legal problems and prolonged negotiations. Latin American countries, such as Chile, Bolivia, Mexico and Peru, also plac
There are all sorts of myths attached to almost every aspect of personal finance, from investing to your credit score. Retirement is another common theme loaded with money myths. If you're not...
Saving for retirement is a lifelong undertaking. It involves keeping your retirement goals in mind as you have children, get different jobs and move from place to place. However, a recent study from the Center for Retirement Research at Boston College … Continue reading → The post Empty Nester? This Avoidable Mistake Could Jeopardize Your Retirement appeared first on SmartAsset Blog.
(Bloomberg) -- Oil climbed the most in two weeks as Hurricane Francine ripped through key oil-producing zones in the US Gulf of Mexico, prompting traders to cover bearish bets. Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingAfter a Record Hot Summer, Pressure Grows for A/C MandatesChicago Halts Hiring as Deficit Tops $1 Billion Through 2025UC Berkeley Gives Transfer Students a Purpose-Built Home on Campu
STORY: U.S. watchdogs have warned that they are likely to probe any takeover of the 7-Eleven parent firm. That’s according to two Reuters sources. Canadian retailer Alimentation Couche-Tard has seen a $38.5 billion bid rejected by Japan’s Seven & i. But it’s expressed determination to press on. However, Seven & i has already said it expected any takeover to run into antitrust concerns. That appears well founded, with the sources saying the U.S. Federal Trade Commission has written to the firm, serving notice of a likely probe. It has asked the company to preserve all relevant documents in case of an inquiry. There was no comment on the report from the watchdog, or either of the companies. Speaking to Reuters, Suntory boss and Japan business lobby chair Takeshi Niinami - who previously ran 7-Eleven rival Lawson - said the bid’s rejection was no knee-jerk move: “Obviously, the thinking and image of Japanese corporates - that means always ‘no’ to the challenge from overseas investors - but this time, Seven & i responded saying that the price is too low. Then, if the price is high enough, that means Seven & i would accept.”Under Chair Lina Khan, the FTC has been aggressive in examining deals for antitrust issues. A bid by grocery chain Kroger to acquire rival Albertsons failed over such concerns. Now a combination of 7-Eleven stores with Couche-Tard’s Circle K brand could give the merged firm a strong position in the U.S.Together, they’d account for close to a fifth of the convenience store market there. Couche-Tard has said it could address any concerns over that by divesting some assets.
