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Business

European luxury stocks rally as Richemont posts record quarterly sales

Richemont reported strong quarterly results, driven by festival sales, despite ongoing weak demand in China. The robust earnings lifted rival share prices, buoying the European luxury sector on Thursday.

Health news

EU finds evidence of discrimination against medtech firms in China

Findings of a Commission’s investigation revealed China has systematically discriminated against imported medical devices in public procurement, the EU is now weighing countermeasures.

Europe News

European glass fibre makers target Egypt-based Chinese makers

European glass fibre producers lodge an anti-dumping complaint calling on the Commission to apply anti-dumping duties on production passing through the Belt and Road Initiative.

Economy

China's December exports beat estimates as higher US tariffs loom

President-elect Donald Trump has pledged to raise tariffs on Chinese goods and close some loopholes that exporters now use to sell their products more cheaply in the US.

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Markets

Markets look ahead: US CPI and China's GDP in the Spotlight

This week, attention will centre on inflation data from major economies, including the US, EU, and UK. Additionally, China's forthcoming release of its Gross Domestic Product (GDP) growth figures for the final quarter will be a critical gauge for its economic trajectory.

Europe News

EU firms forced to 'silo' operations in China, harming competitiveness

The European Union Chamber of Commerce in China warned that the trend could accelerate deglobalisation and reduce global economic growth.

Europe in Motion

What is the state of trade relations between EU and China?

Despite trade disputes over electric vehicles and dairy products, the EU remains China’s largest trading partner, with mechanical appliances and electrical equipment being the most traded goods.

Business

Chinese EV giant BYD beats domestic players to hit record 2024 sales

Electric vehicle company BYD has announced record sales for the last year, boosted by rising Chinese demand, as well as government trade-in deals.

Eco-Innovation

What does China’s EV dominance mean for Europe and the environment?

China’s EV boom offers climate hope, but market dominance risks new environmental challenges.

Economy

China's manufacturing activity slows in December as trade risks grow

The Purchasing Managers' Index, based on a survey of factory managers, slipped to 50.1 in December from 50.3 the previous month, the National Bureau of Statistics said on Tuesday.

Europe News

China pitches for EU friendship amid tariff spat as Trump looms

China's head of mission to the EU, Cai Run, has called for friendship between EU and China against a turbulent geopolitical backdrop, trade disputes and with Donald Trump poised to begin his second term as US president.

China

Euroviews. China’s new economic development offers fresh China-EU opportunities

China is ready to work with the EU to seize opportunities and meet challenges to pave the way for the next 50 years of China-EU relations and contribute our share to global peace, stability and prosperity, Ambassador Cai Run writes in a Euronews exclusive.

Business

Chinese car maker BYD on track to beat Honda and Ford sales

BYD, one of the biggest Chinese electric vehicle (EV) producers, has seen higher sales figures through more car trade-ins in China, edging it closer to its 2024 sales target.

Economy

Chinese car makers turn to hybrids to avoid EV tariffs from the EU

Following higher EU tariffs on Chinese electric vehicles, car makers such as BYD, SAIC and Geely have increased their hybrid exports to Europe, in an attempt to boost their European market share in this way.

Business

Chinese online retailer in Temu in hot water as Vietnam halts trading

Temu is being investigated in Europe over suspicions it has been failing to prevent the sale of illegal products.

Business

ASML holds firm on guidance despite new US curbs re China tech

ASML sees a limited impact of the US fresh restrictions on AI chip exports to China and maintains its guidance for 2024 and 2025.

Europe News

Volkswagen workers on strike over proposed pay cuts and plant closures

The two-hour stoppages included the company's base plant at Wolfsburg, where workers protested against a cost-cutting drive by the car maker's management which includes the threat of plant closures in Germany.

Business

Trump's tariff hikes could speed up China's shift to new markets

The US has for years been a major destination for Chinese goods, but exporters are reducing their reliance on the world’s largest consumer market as Beijing and Washington feud over trade.

Business

Thyssenkrupp plans to cut total of 11,000 jobs in troubled steel unit

Germany's largest steelmaker is proposing to cut 5,000 jobs from the workforce and outsource another 6,000 as it seeks to cut staff costs by around 10%.

Business

Mercedes reveals plans to cut costs by several billion euros per year

Mercedes has revealed plans for substantial cost cuts of several billion euros in the coming years. However, specific details on how these costs will be reduced and which locations will be affected has not yet been detailed.