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Business

BMW: German car maker's profits tumble as sales plunge in China

The iconic German car maker is the latest car manufacturer to be hit by falling sales, including in China, where sales were down by almost 30%.

Business

Hugo Boss faces sales target delays amid weak demand in China

The German luxury brand, Hugo Boss, has warned of potential delays in reaching its ambitious 2025 sales target due to tepid consumer demand, especially in China.

Business

Mercedes profit driven down as demand slows in Chinese market

The German automaker is pledging to cut costs through 'efficiency increases' after weak Chinese demand hits profits.

Business

Hermès bags support from super-wealthy despite China slowdown

The French firm is outflanking rivals LVMH, Kering, and Burberry as demand for handbags remains strong.

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Economy

China: World's second-largest economy sees growth slowing

The economy has remained sluggish despite the lifting of Covid restrictions at the end of 2022. Consumer confidence is low and the property market remains a drag on the economy.

Economy

China’s CPI and economic briefings dampen European market sentiment

China reported weaker-than-expected consumer price growth for September, alongside an underwhelming economic briefing, which may exert pressure on European luxury stocks.

Business

What is behind the huge drop in Mercedes' share prices?

The German carmaker’s shares started Friday with an almost 7% drop as the company significantly cut its expected results for the full year because of weakness in Chinese demand for its vehicles.

Business

Beijing bans PwC's China unit for concealing fraud in Evergrande audit

The punishment is the heaviest yet for an international accounting firm operating in China.

Economy

China retains key loan rates as economic recovery shows progress

After unexpected cuts in July, the People's Bank of China (PBOC) left the one-year and five-year Loan Prime Rates (LPR) unchanged. Amid recent mixed activity data, China's economy shows signs of a modest recovery.

Business

Beijing protests EU tariff increase on Chinese electric vehicles

Beijing strongly opposes the EU's decision to increase tariffs on their electric vehicles amid efforts by European automakers to forge joint ventures with Chinese counterparts to mitigate the tariff impact.

Economy

IMF upbeat on China's economic forecast but warns reform still needed

The projections come as Beijing powers ahead with recovery efforts to lift itself from a prolonged property crisis.

Tech News

EU consumer groups call for DSA probe into Temu

The Chinese online marketplace would lack information about product safety, among other things.

Europe Decoded

Euroviews. Xi's European tour: Some euro, no vision

For China to revive its fortunes, it must fundamentally change course, abandoning its version of predatory state capitalism in favour of the genuine market reforms its trade partners worldwide are calling for, Elaine Dezenski writes.

Tech News

Exclusive: Commission seeks Frenchman for top standards job

The other two shortlisted candidates are from Spain and Sweden.

Economy

China sets ambitious economic target but it won't be easy to achieve

China's premier has outlined plans to boost spending on developing advanced technology, fortifying the country's military and supporting the economy, among many other longstanding goals.

Business

What are shadow banks and why are they failing in China?

European investment in China is under threat as the country's shadow banks face crisis.

Business

Does China's Evergrande have to pay back its $300 billion debts now?

The world’s most heavily indebted real estate developer has been ordered to undergo liquidation. But their assets don't cover their liabilities.

Economy

Chinese manufacturing up on strong industrial production, retail lags

China's economic report for December was cautiously optimistic due to robust industrial production performance, but retail sales lagged.

Economy

Chinese exports increase for the first time in six months

The increase comes as a surprise to analysts expecting a drop of more than 1% in the world’s second-biggest economy.

Economy

Trouble in China? Moody's cuts its credit outlook on rising debt woes

The world's second-largest economy was slowing down even before a crackdown on excessive borrowing in 2020 led to defaults by many property developers.