Construction of a US$1 billion Chinese-invested hydropower station has begun in Cambodia to facilitate the Southeast Asian country’s use of renewable energy as the fallout from the Iran war constricts developing countries’ access to traditional fuel supplies. Work on the Upper Tatay pumped-storage hydropower project in the hilly southwestern province of Koh Kong started on April 10, Xinhua reported, describing it as a future “green power bank” for Cambodia’s national grid. It said the project...

Humans Who Used a Bear Suit to Defraud Car Insurers Sentenced to Jail

The California residents collected more than $141,000 in insurance payouts after staging bear attacks on their luxury cars, state officials said.

Scammers are becoming ever more sophisticated - this is what the fightback looks like

Scams have exploded over the last few years. Can countries and companies come together to turn the tables on the scammers?

I'm a carer but I can't afford to go to work because of fuel prices

The conflict in the Middle East has caused rapid price rises for both petrol and diesel.

Man Charged in Lego Theft Scheme of Replacing Pieces With Pasta, Police Say

A California man was charged with grand theft after the police said he reaped about $34,000 in what an official called an “off the charts” pasta-and-switch scheme involving Lego kits.

Hollywood Talent Giant Draws Suitors Amid Epstein Fallout

Formerly known as Wasserman, the agency that has changed its name to The Team put itself up for sale after its founder’s emails surfaced in the Epstein files.

American Airlines Says It Won’t Merge With United

American issued the statement after news reports that United Airlines’ chief executive had discussed the idea with the Trump administration.

Why Your Paycheck Feels Smaller

Ben Casselman, our chief economics correspondent, explains why wages are not keeping up with inflation and what that means for American workers and the economy.

Hundreds of Fake Pro-Trump Avatars Emerge on Social Media

The artificial-intelligence-generated fake influencers have surged on TikTok, Instagram, Facebook and YouTube in an apparent bid to hook conservative voters.

Reopening Strait of Hormuz Would Ease Oil Crisis but Only So Much

Analysts said energy and shipping companies would be reluctant to fully restore operations until they were confident that hostilities were over.

China trade deal has Canadians looking forward to cheaper electric vehicles

In Canada, fans and foes of Chinese electric vehicles are holding their breath for brands like BYD to hit the market. Whether they love them or not, they share the hope that Chinese carmakers will help to bring all EV prices down, as affordability becomes a growing concern for consumers. Companies including BYD, Geely, Nio and Xpeng are preparing to roll out sales locations in Canada, seizing the opportunity of warmer ties between the two countries. Ottawa struck a milestone trade deal with...

Corporate Profits Are at Record Highs. These 4 Factors Could Sink Them.

Experts have different theories about what’s driving steep gains. But many agree the window for growth is shrinking.

'It's just scale': Local mom-and-pop car dealerships are growing or dying amid industry consolidation, rise of mega-retailers

Multibillion-dollar dealerships have been on the rise amid a decadeslong consolidation that has led to a grow-or-die mentality for many U.S. auto retailers.

More Americans Taking 401(k) Hardship Withdrawals

More Americans are taking hardship withdrawals from workplace retirement accounts, prompted by rising costs — and looser rules.

The Mighty Engine That Jaguar Built, and Built Jaguar

For 42 years, the XK was Jaguar’s secret weapon. It proved its worth on the racetrack and powered generations of cars. The company’s leap into electrics could take a similar path.

Iran war sees holidaymakers stay closer to home

One man says he cancelled his holiday to Spain due to the rising costs and uncertainty.

Oil prices plunge as Iran says Strait of Hormuz 'open' during ceasefire

Brent crude sinks by a tenth after Iran says the key waterway is open for commercial ships for the rest of the ceasefire.

Federal Court Temporarily Freezes Nexstar’s Merger With Tegna

The judge said the two television companies could not combine operations while an antitrust lawsuit proceeded. Nexstar said its deal was already done.

Mortgage rates show signs of falling after Iran war peak

Major lenders make rate reductions as markets take some heart from a possible truce in the Iran war.

'I'm the lucky one' - more than one in three young men now live with their parents

Last year, the highest proportion of men aged 20-34 were still living at home since at least 2007 as the rising cost of living takes hold.

Sazerac Prepares $15 Billion Cash Offer for Maker of Jack Daniel’s

The Kentucky spirits company’s bid for Brown-Forman comes as the industry is being buffeted by a decline in alcohol consumption.

In wake of Iran war, Chinese manufacturers recalibrate overseas expansion plans

With domestic profits narrowing and production capacity expanding, China’s firms are continuing to widen their overseas footprints in search of new, more lucrative markets. In this series, we examine China Inc.’s next phase of “going global” and the complex, challenging international environment its companies have chosen to enter. When Lawrence Wong decided to set up a toy factory in Vietnam last year, he had a clear plan: 600 square metres (6,458 sq ft) of floor space at the start of 2026, with...

Strait of Hormuz Is Open During Cease-Fire in Lebanon, U.S. and Iran Say

Statements from President Trump and Iran aimed to raise confidence in the safety of the waterway, but shipping experts said risks remained.

Mississippi Liquor Stores Run Dry Amid State Distribution Delays

The state liquor agency has been struggling to make timely deliveries to restaurants, bars and liquor stores since it got rid of outdated conveyor belts at a warehouse in January.

Stocks Extend Rally as Tensions Ease Over War in Iran

The S&P 500’s rise on Friday caps a striking three-week streak, powered by investors’ optimism about the reopening of the Strait of Hormuz and strong corporate earnings.

Kevin Klose, Who Made NPR a Reporting Powerhouse, Dies at 85

A longtime journalist at The Washington Post, he used his unexpected fund-raising talents to greatly expand the radio organization’s coverage.

Oil Prices Fall Sharply After Iran Says Strait of Hormuz Is Open

But analysts said it was not clear how quickly the oil industry in the Persian Gulf would be able to get back to normal.

Tinder and Zoom offer 'proof of humanity' eye-scans to combat AI

The tech aims to identify people's irises and stop the rise of fake accounts and malicious scams.

What Heelys, the Sneakers With Wheels, Taught Me About Momentum as a Child

Heelys, the sneakers with wheels that were a fad in the 2000s, helped me form my first friendships. Recently, I decided to tap into that joy again.

Mark Mobius, Pioneering Investor in Emerging Markets, Dies at 89

Gaining a reputation as the brilliant, risk-taking “Indiana Jones” of his field, he encouraged investors to take chances on Asia, Africa, Latin America and Eastern Europe.

Reed Hastings Will Leave Netflix as Board Chairman

The co-founder of the streaming giant will leave its board in June, the company said.

Spirit Airlines could liquidate as early as this week, sources say

The carrier is facing the added challenge of a spike in the price of fuel. Fuel is airlines' biggest expense after labor.

Trump Seeks More Time in Lawsuit Against IRS Over His Tax Returns

The Justice Department has not responded to the president’s suit, which has created a conflict of interest for the government’s lawyers.

AI minister Kendall says she doesn't use AI at work

The Science, Innovation and Technology Secretary this week unveiled a £500m fund to boost British AI firms.

Netflix was long 'a builder not a buyer.' Is that era over?

Netflix co-CEO Ted Sarandos said during an investor call that the company built its "M&A muscle" during its pursuit of WBD's assets.

The Only Thing N.B.A. Players Love More Than Basketball Is Starting Podcasts

Bench players and stars alike see fun and career possibilities behind the mic.

How to know if you're on an energy price cap tariff

Martin was shocked to learn how many people didn't know if they were on an energy price cap.

NPR Receives $113 Million From 2 Gifts

The donations, from the philanthropist Connie Ballmer and an anonymous donor, will support the network’s long-term strategy.

Some grocers are using AI to cut food waste and boost profit margins

Grocers turn to AI pricing to cut waste, protect margins and compete for deal-seeking shoppers—targeting dynamic pricing discounts.

What is Claude Mythos and what risks does it pose?

The company's claim the AI tool can outperform humans at some hacking and cyber-security tasks has sparked fears in the financial world.

You Have Some Options for Dealing With Rising Property Taxes

The average bill rose 3 percent last year, in part because of higher tax rates. There are ways to try to reduce what you owe, experts say.

Washington’s Scramble to Get Mythos, Anthropic’s Powerful New Model

Federal agencies have requested access to Claude Mythos Preview, which Anthropic says can rapidly identify — and potentially create — new cyberthreats.

UK petrol and diesel prices fall after weeks of rises

Drivers have seen weeks of increases as the US-Israeli war with Iran pushed up wholesale oil prices.

Chinese ministry focuses on car standards to put industry in global driving seat

To sharpen its competitive edge in the world’s next-generation vehicle market, China has pledged to fast track automotive technical standards to build its status as a global rule-setter. The carmaking powerhouse would drive high-quality development of the auto sector through the formulation and enhancement of core standards during the next five years, officials from the Ministry of Industry and Information Technology (MIIT) told state broadcaster China Central Television (CCTV) in Beijing on...

Finance ministers and top bankers raise serious concerns about Mythos AI model

Experts say Mythos potentially has an unprecedented ability to identify and exploit cyber-security weaknesses.

The fake images behind AI insurance scams

An insurer reports a 71% rise in fraudulent claims, driven partly by an increase in faked images.

Tycoon Pan Shiyi slams China property ‘Ponzi’ as Evergrande boss pleads guilty

Property tycoon Pan Shiyi issued a rare critique of China’s real estate sector, describing its development model as a “Ponzi scheme” and urging the industry to restore integrity and better protect homebuyers, just days after a fraud trial saw a guilty plea from the founder of China Evergrande – the US$300 billion debt juggernaut whose 2021 collapse triggered a systemic property meltdown. Writing from the United States on Thursday via his personal WeChat account, Pan reflected on the trajectory...

White House Shrugs Off Shaky Economy as War Exceeds Trump’s Timeline

Stocks may be soaring again, but the war in Iran has started to pinch the finances of many Americans.

Nearly 160,000 uninsured cars seized on UK roads

Seizure numbers hit a 17-year high as an estimated 300,000 uninsured vehicles are driven each day.

Vietnamese airline to lease up to 10 C909 jets in boost for Chinese aircraft maker

Vietnamese budget carrier VietJet Air has agreed to lease as many as 10 Chinese-made C909 regional passenger jets, giving a lift to their manufacturer’s goal of vying with Airbus and Boeing in overseas civil aviation. VietJet said in a statement on Thursday night it had agreed with SPDB Financial Leasing, a subsidiary of Shanghai Pudong Development Bank in China, to finance the aircraft through operating leases. Commercial Aircraft Corporation of China (Comac) makes the jets that are the subject...

Chinese carmaker patents voice-controlled 'in-vehicle toilet'

Seres' plans show how stiff competition in the EV space is putting pressure on carmakers to innovate.

China’s energy mismatch

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Netflix stock sinks after streamer reiterates guidance, says Reed Hastings to exit board

Netflix beat expectations for Q1 revenue and reported a big jump in earnings per share thanks in part to a termination fee related to its proposed WBD deal.

China warns of food security risks as Iran war threatens global supplies

China’s food supply could be vulnerable to global price spikes triggered by extreme weather or global conflict, as international bodies warn the US-Israel war on Iran is worsening food insecurity worldwide. The country has sufficient staple grain supplies, but Beijing said the nation’s food sector still faced structural challenges, including a weak processing industry and a lack of high-quality crop varieties in some areas. These weaknesses could pose problems for China if global food markets...

Could a digital twin make you into a 'superworker'?

Firms say digital twins make staff more productive, but are they a potential legal minefield?

Rising value of Pokémon cards sparks smash and grab crime spree

Small shops across the UK are being targeted by thieves stealing collectibles worth thousands of pounds.

Ellison Pledges at Least 30 Paramount-Warner Movies a Year

His remarks at a movie theater convention were part of a campaign to win Hollywood support for his bid to buy Warner Bros. Discovery.

Trump nominates Erica Schwartz as CDC director amid turmoil around leadership, vaccine policy

The CDC has been going through turmoil and several leadership shakeups under HHS Secretary Robert F. Kennedy Jr.

Netflix co-founder Reed Hastings to step down as chairman

Hastings set up the company in 1997, when it rented DVDs to customers and delivered by post.

Roger Adams Dies at 71; Invented the Rolling Sneakers Known as Heelys

You could walk in them like gym shoes, but if you rocked back on your heels the wheels emerged, turning them into roller skates. In the early 2000s, the company sold millions.

Pentagon Seeks Help From Ford and G.M.

Concerned about the slow pace and high cost of weapons production, Pentagon officials have begun talks with General Motors and Ford Motor about producing certain parts.

Politics News Site NOTUS to Become ‘The Star’

The Washington publication is rebranding as it expands its local news and sports coverage in the wake of substantial layoffs at The Washington Post.

How could the Iran war affect fizzy drinks in the UK?

The BBC's Emma Simpson explains why fizzy drinks, salad and meat could be affected by the Gulf conflict.

Despite Cease-Fire, Iran’s Hackers Haven’t Logged Off

Tehran’s digital warriors have continued to seek ways to gain an advantage in the conflict in a new phase of cyberspace operations.

RFK Jr.'s peptide policy could boost Hims & Hers as its GLP-1 business evolves

Hims may have a chance to grow peptides business as a potential revenue driver, with FDA review in 2026 shaping the opportunity.

Stocks Hold Gains as Oil Prices Edge Higher

Oil prices stabilized and stocks rose on optimism that diplomatic talks could yield a permanent peace deal.

Help for Medicare Advantage Patients Who Lose Doctors Is Shelved, for Now

Nationwide, hospitals and other providers are leaving private Medicare Advantage plans, putting thousands of seniors at risk of higher costs and of losing trusted doctors.

Europe has 'maybe six weeks of jet fuel left', energy boss warns

Flights could soon be cancelled if supplies from the Gulf remain blocked, says the International Energy Agency.

Is Trump meeting the moment for US conservatives?

The BBC asked the president's supporters about Iran, the economy and immigration at the largest conservative gathering in the country.

Condé Nast Shutters Self Magazine

The publishing giant is also closing the international editions of Glamour Magazine in Germany, Spain and Mexico.

Despite Iran War’s Effects, PepsiCo Says Consumers Still Spending on Snacks

Executives at the food and drink giant announced a rise in sales of drinks and snacks but warned that “inflation will come.”

What the U.S. Blockade Means for Iran’s Economy

Putting a stop to Iranian shipping will further add to Iran’s economic pain, analysts said, but it might not be enough to force concessions or lessen the global energy crunch.

Why the UK is preparing for food shortages due to Iran war

The BBC's Emma Simpson explains why fizzy drinks, salad and meat could be affected by the Gulf conflict.

No issues with UK fuel supply, says Reeves

The chancellor was speaking at the end of the International Monetary Fund meeting in Washington.

Social supermarket opens to cut food bills

The store, in Mablethorpe, buys surplus stock so it can keep prices low.

PepsiCo earnings beat estimates as Doritos, Lay's price cuts win back shoppers

PepsiCo's quarterly earnings and revenue topped Wall Street's expectations.

Cheaper Doritos and Lays helps PepsiCo win back struggling snackers

The snack giant cut some of its prices by up to 15% ahead of the Super Bowl in February.

UK prepares for food shortages in worst case scenario as Iran war continues

The UK could face some food shortages by the summer under a worst case scenario drawn up by government officials.

DHL staff at Jaguar Land Rover vote to strike

Up to 300 DHL logistics workers based at Jaguar Land Rover in Solihull vote to strike indefinitely.

Airline CEOs urged by lawmaker to lower fares if fuel prices come down

Airlines have raised airfare, fuel surcharges and baggage fees this year to help cover a surge in fuel costs since the Iran war started on Feb. 28.

Carbon Removal Industry Reels as Microsoft Retreats

Once held up as a key solution to climate change, a field that aims to remove carbon from the atmosphere is struggling to catch on.

China’s G.D.P. Stronger Than Expected, Led by Infrastructure Spending

A steep slide in housing prices has left consumers less prosperous and less willing to spend, but the government is pouring money into new rail lines and other projects.

Democrats Make Final Push to Delay Confirmation Hearing of Trump’s Fed Pick

Kevin M. Warsh is scheduled to testify on Tuesday despite an ongoing criminal investigation into the chair of the Federal Reserve that stands in the way of a smooth transition.

How the wealthy are planning to cut their 2026 tax bills

Lawyers and advisors to the wealthy share tax tactics from long-short equity strategies to front-loading charitable gifts.

Live Nation and Ticketmaster Illegally Monopolized Ticketing Market, Jury Finds

In a verdict that could have far-reaching consequences in the music industry, the live colossus that includes Ticketmaster was found to have violated antitrust laws.

Trade tensions make rest of world less keen to invest in US and China, survey finds

Trade tensions between the US and China have made companies around the world less keen to invest in either country, with the United States almost twice as unpopular, according to a new report from Allianz Trade. The report, based on an annual survey by the Paris-based international insurance company, said US-China decoupling had not materialised, but investment intention towards China had dropped “significantly” to 24 per cent of survey respondents, down from 53 per cent a year ago. The survey...

European Airlines Face Fuel Shortages Within Weeks

If tankers do not soon begin crossing the Strait of Hormuz, airlines in Europe may not have enough jet fuel to operate all of their flights.

China’s PBOC raises leverage ratios for foreign lenders to support outbound investment

Beijing has raised the limit on banks’ overseas lending – a move that analysts say will support Chinese firms in outbound investment expansions while helping to stabilise the yuan. Regulators raised the overseas-loan leverage ratio for foreign banks in China and their joint ventures with Chinese lenders from 0.5 to 1.5 on Wednesday, according to a statement published by the central bank and the foreign exchange regulator. In a separate statement, the regulators said that the new rules would...

What LIV Golf’s Demise Means for Saudi Influence

The upstart golf circuit couldn’t conquer the sport, despite big spending by Saudi Arabia. Its end signals limits to how much the country will spend.

Why foreign automakers dominate the sedan market

SUVs may have taken over America, but high prices and oversaturation are pushing some customers — and automakers — back to sedans.

UK economy grew faster than expected in February ahead of Iran war

The economy saw its biggest monthly rise in more than two years just before the outbreak of the US-Israeli war with Iran.

China fast-tracks hydrogen strategy to ‘scale-up’ phase in high-stakes energy transition

Amid heightening global anxieties over energy security fuelled by the escalating conflict in the Middle East, China’s top energy regulator has pledged to accelerate the development of its hydrogen industry, hailing the fuel as a “strategic lever” to fortify national energy resilience. The National Energy Administration (NEA) called for “bold innovation” in the sector during a recent meeting reviewing the progress of hydrogen pilots and outlining future tasks, according to an official readout...

China’s economic boom masks Iran war slowdown

China’s economy grew 5 per cent in the first quarter, surpassing expectations, as the nation weathered supply disruptions and higher oil prices caused by the US-Israeli war in Iran. Expansion accelerated from 4.5 per cent in the last three months of 2025, and beat the 4.9 per cent forecast among economists polled by Chinese financial data provider Wind. The number, announced on Thursday, hit the top end of the full-year growth target of 4.5-5 per cent. Quicker-than-expected growth reflected a...

More big energy users to get help as support plan expanded

A scheme to cut bills for firms that are heavy energy users is being extended to cover an additional 3,000 businesses.

China's economy grows faster than expected despite Iran war

The better-than-expected GDP data comes as Asian countries have been hit hard by the impact of the conflict.

China trims US Treasury holdings amid rising debt supply as global ownership hits record

China continued to diversify its foreign exchange reserves in February, trimming its US Treasury stockpile even as overall overseas holdings of sovereign American debt rose to a record high. China’s stockpile of United States Treasuries fell to US$693.3 billion in February, down from US$694.4 billion in January, according to US Treasury Department data released on Wednesday. Although China slightly increased its US Treasury holdings in January, the uptick did little to alter a broader downward...

Big energy shock will push up prices, Bank boss tells BBC

Bank of England governor says the Iran war energy shock makes the next interest rate decision "very, very difficult".

Fake damage and imaginary watches - how AI images are being used in insurance scams

An insurer reports a 71% rise in fraudulent claims, driven partly by an increase in faked images.

Japan pledges $10bn to help Asian countries deal with oil crisis

The aid is roughly equivalent to a year's worth of crude oil imports by Asean countries.

China beats expectations with 5% growth in first GDP release since Iran war

China’s economy grew 5 per cent year on year in the first quarter, beating market expectations despite the global impact of the US-Israel war in Iran, which analysts said indicates the country remains on track to meet its full-year growth target without the need for near-term stimulus. The closely watched gross domestic product growth figure, released by the National Bureau of Statistics (NBS) on Thursday, beat the 4.86 per cent forecast by economists polled by financial data provider Wind. It...

Allbirds shares soar 580% after pivot from shoes to AI

The company is selling off its shoe brand as it plans to shift to providing technology infrastructure.

Sneaker Company Allbirds Plans to Pivot to A.I. Yes, A.I.

After selling its business for $39 million last month, the company said it planned to buy powerful computer chips and rebrand itself NewBird AI.

Canton Fair under Middle East cloud, but sets records, as high costs hit China’s exporters

Rising tensions in the Middle East cast a fresh shadow over the opening of China’s largest trade fair, at a time when the impact of geopolitical shocks is being reflected in the nation’s trade figures. In conversations across sprawling exhibition halls after the Canton Fair opened its doors on Wednesday in China’s manufacturing hub of Guangzhou, domestic exporters and foreign buyers sounded each other out, trying to gauge how far those shocks might ripple through global trade. The threat of US...

5 Takeaways From the Live Nation Antitrust Trial

A jury found that the concert giant operated as a monopoly, a verdict that could have major reverberations in the music industry.

Back to books - Sweden's schools cutting back on digital learning

Swedish classrooms swap laptops for books, pens and paper, raising concerns from the tech sector.

Horse urine perfume: Why online bargains may be dangerous

Experts warn of hidden risk of counterfeits, while the government consults on stricter product safety rules.

Ticketmaster-owner Live Nation ran a monopoly and overcharged fans, jury finds

The lawsuit said the firm's practices had led to higher ticket prices and worse service for customers.

For cruise lines, Iran conflict and oil prices threaten to dent profits

Even as the industry navigates choppy seas, cruise companies are looking for their next avenues for growth.

Goldman Sachs bond traders stumbled as Wall Street rivals thrived: 'A fire is being lit under' them

Goldman's identity as a trader's firm — one expected to perform in turbulent markets — makes any stumble in the division notable.

U.K.’s Starmer Summons U.S. Social Media Companies Over Child Safety Online

The British prime minister will meet with executives from Meta, Google and other companies on Thursday as his government explores how to protect children from online harms.

Ford Says Doug Field, Who Led Company's E.V. Push, is Leaving

Doug Field, a former Tesla and Apple executive, had returned to Ford Motor in 2021 to help develop new electric models and software.

Ford EV chief leaving automaker amid new restructuring efforts

The departure was announced alongside Ford detailing a new restructuring that includes the establishment of a "Product Creation and Industrialization" unit.

S&P 500 Hits Record High as Stock Market Looks Beyond Iran War

Investors appear to be treating an end to the U.S.-Israeli war with Iran as a foregone conclusion, as the S&P 500 closes above 7,000.

Trump’s Quest for More Sway Over Fed Faces Fresh Hurdles

Jerome H. Powell’s term as chair of the Federal Reserve ends on May 15, but it appears increasingly likely that he will stay on in some capacity at the central bank after that.

Debt Alarms Ring as Countries Rack Up More Emergency Spending

Amid signs of a prolonged period of high energy costs, policymakers are urging restraint as governments open up the public till to protect households and businesses.

Snap Is Laying Off 16% of Full-Time Staff as It Embraces A.I.

The company, which owns the social media app Snapchat, said it was laying off about 1,000 employees as it increased its reliance on artificial intelligence.

Starbucks launches beta app in ChatGPT to fuel new drink discovery

Starbucks is trying to find ways to entice U.S. customers back to its cafes.

Walmart is refreshing the look of Great Value, its largest private-label brand

The nation's largest grocer is giving the brand a more modern and colorful spin as other retailers invest in private label.

Yellen says ‘no alternative’ to dollar, urges US-China cooperation for sake of the world

A decoupling between China and the United States is something “that you don’t want to see”, says former US Treasury secretary Janet Yellen, adding that both countries have developed deep trade and investment relationships that should be preserved and encouraged to thrive. Speaking in Hong Kong at the HSBC Global Investment Summit on Wednesday, Yellen also argued that China’s reliance on exports for growth – resulting in a trade surplus with the rest of the world – has created “serious conflicts”...

Bank of America tops estimates as CEO Brian Moynihan says consumer banking is 'healthy'

Bank of America, the second-largest U.S. bank by assets, has topped expectations for earnings per share for 23 consecutive quarters.

United CEO had been considering a merger last fall, months before bringing it up to the Trump administration

United Airlines CEO Scott Kirby has said the next phase for U.S. carriers is figuring out how to better compete on a global stage.

US officials claim China is ‘hoarding’ oil. What does the data say?

Though high-level officials in Washington have accused China of undermining global energy security by “hoarding” oil during the US-Israeli war on Iran, import and inventory data suggest Beijing is facing its own supply pressures as the conflict drags on. US Treasury Secretary Scott Bessent on Tuesday labelled China an “unreliable global partner,” alleging that Beijing has prioritised stockpiling crude over easing global shortages triggered by the war, according to a Reuters report. He also...

Morgan Stanley tops estimates as trading revenue exceeds expectations by nearly $1 billion

Morgan Stanley's results in the quarter were powered by the firm's fixed income and equities trading operations, which produced about $8.5 billion in revenue.

Analysts doubt Iran war will prompt China stimulus, tip ‘solid’ first-quarter GDP growth

The US-Israeli war on Iran and the current Iranian and American blockades of shipping through the Strait of Hormuz are likely to overshadow China’s first-quarter economic performance, analysts said, with questions looming large about how the world’s second-largest economy will handle their impact. Many observers said they expect the leadership in Beijing will adopt a wait-and-see approach, with little likelihood of an immediate stimulus to guarantee the country’s annual economic target is...

Nearly 60% of U.S. farmers say their finances are getting worse as fertilizer, fuel costs rise: Survey

Rising fertilizer costs tied to global shipping disruptions are squeezing U.S. farmers, forcing cutbacks that could reduce crop yields and supply.

Chinese steelmakers coordinate response to EU’s carbon-linked import imposts

China’s leading steelmakers are stepping up coordinated efforts to adjust export strategies, compliance systems and pricing models in response to this year’s full implementation of the EU’s tariff-like Carbon Border Adjustment Mechanism (CBAM), which imposes direct carbon-linked costs on imports. “China’s indirect steel exports to the EU are substantial, and a significant portion consists of high value-added products,” said Jiang Wei, vice-chairman and secretary general of the China Iron and...

Sour note: China criticises local governments for ‘imprudent’ spending

China’s central government has publicly criticised several local authorities – including a relatively poor county in Sichuan province – for “imprudent” fiscal spending for the first time in an ongoing campaign urging officials to adopt a “correct view” of political performance. Among those named was a county in the southwestern province of Sichuan once ranked among the country’s poorest. Zhaojue county was said to have used transfer payments from higher-level governments to fund three tourism...

Which countries are most vulnerable as US imposes its own blockade in Persian Gulf?

As the US imposes its own blockade on shipping through the Strait of Hormuz following the collapse of talks with Iran at the weekend, we take a look at how major economies in Asia and Europe could be affected by further restrictions on passage through one of the world’s most critical choke points for energy supplies. Who is most vulnerable in this energy crisis? According to a recent report by Japanese investment bank Nomura, the regions most exposed to the tensions in the Persian Gulf are Asian...

Lucid names auto industry outsider as CEO, expands Uber deal

Lucid Group has named the former chairman and CEO of Schindler Group, an industrial manufacturer of escalators and elevators, as its new chief executive.

Jamie Dimon says Anthropic's Mythos reveals 'a lot more vulnerabilities' for cyberattacks

The remarks show how a technology welcomed by corporations as a productivity boon can also pose serious threats, like uncovering new ways to hack into systems.

What a United-American merger would mean, from antitrust hurdles to airfare

United Airlines CEO Scott Kirby reportedly floated a potential merger with Trump administration officials earlier this year.

Blackstone’s Joan Solotar says investors should separate ‘signal from the noise’ in private credit

Joan Solotar, global head of Blackstone Private Wealth, said the capital flight from private credit isn't justified by the likely returns and potential losses.

Citigroup beats estimates, boosted by gains in fixed income

Citigroup reported its best quarterly revenue in a decade and a 56% year-over-year jump in earnings per share.

JPMorgan tops estimates on Wall Street results, Dimon flags 'increasingly complex' economic risks

JPMorgan CEO Jamie Dimon called the economy resilient, but pointed to an "increasingly complex set of risks" across global markets.

IMF cuts China’s GDP growth forecast to 4.4% as Iran war pressures global economy

The International Monetary Fund (IMF) has lowered its global economic growth forecast, including for China, citing shocks from the US-Israeli war in Iran. In its flagship World Economic Outlook published on Tuesday, the IMF projected worldwide gross domestic product growth at 3.1 per cent this year, down 0.2 percentage points from its January estimate. China – the world’s second-largest economy – is now expected to expand by 4.4 per cent this year. That would miss the IMF’s January estimate by...

Kazakh sovereign fund issues Central Asia’s first panda bond in ‘milestone’ sale

A leading sovereign wealth fund from Central Asia has cast a vote of confidence in Chinese debt and the country’s currency by becoming the first institution from the region to sell yuan-denominated debt, known as panda bonds, in China’s onshore market. The decision by Kazakhstan’s sovereign wealth fund, Samruk-Kazyna, to sell 3 billion yuan (US$440 million) in China’s interbank market comes as global investors are looking for safe havens amid geopolitical uncertainties such as the Iran war. The...

China’s exports slow as Iran war impact begins to bite

China’s export growth slowed more than expected in March, while imports surged the most since 2021, as the war in Iran upends global trade. Exports rose 2.5 per cent, according to customs data released on Tuesday, missing the 4 per cent forecast among economists polled by financial data provider Wind. Imports surged 27.8 per cent, almost five times expectations. A later Chinese new year and high base last year weighed on export growth. The trade balance slumped to a 13-month low US$51.1 billion,...

China turns to central Asia as US blockade in Hormuz chokes global energy flows

As China looks to central Asia for more energy supplies to offset shipping disruptions amid the Iran war, Vice-Premier Ding Xuexiang will travel to Turkmenistan to visit local gas fields and to attend a bilateral cooperation meeting. Ding, who is China’s top-ranking vice-premier, will kick off his three-day visit on Wednesday by attending the groundbreaking ceremony for the fourth phase of the Galkynysh gas field as President Xi Jinping’s special representative, Xinhua reported. Ding will also...

China’s March trade

China’s export growth slowed to 2.5 per cent in March, while imports rose 27.8 per cent, narrowing the monthly trade surplus to US$51 billion, the lowest in over a year. Sectors Chinese electric vehicles (EVs) are poised to fuel export growth this year as high petrol prices accelerate the shift away from internal combustion engines. In March, total motor vehicle exports jumped 44 per cent according to China Customs, while EV exports soared 140 per cent per the China Passenger Car...

China’s imports surge in March as exports soften amid Hormuz blockade

China is feeling the economic pain of Iran war shocks, with export growth softening and imports surging considerably in March as disruptions in the Strait of Hormuz pushed up transport, commodity and energy costs. However, analysts said China was likely to weather the impact better than other countries this year, thanks to its huge domestic market and its complete and efficient manufacturing base. Exports rose 2.5 per cent year on year to US$321.03 billion in March, according to data released by...

Brussels must resist ‘passive’ role in US-China trade war, EU chamber urges

A leading European business association in China has urged Brussels to avoid becoming a “passive recipient” of US-China trade negotiations, as European firms scramble to navigate Beijing’s export controls. In a report released on Tuesday, the European Union Chamber of Commerce in China asserted that the EU must take the lead in discussions affecting its interests, while urging Beijing to avoid a one-size-fits-all approach to export controls. “We’re in a situation where Europe simply cannot...

Quantum computing: A tech race Europe could win?

With some promising computing companies in the field, could Europe be a leader in quantum tech?

Goldman Sachs tops estimates on record equities trading

Goldman Sachs posted record equities trading revenue for the first quarter, helping propel the overall firm to its second-highest quarterly revenue.

Wall Street still loves streaming, but are its affections well placed?

While streaming continues to drive media stocks, especially around quarterly earnings, it's not clear when it will start driving profits for smaller players.

Revolution Medicines says its potential breakthrough pancreatic cancer drug succeeds in late-stage trial

Revolution Medicines' drug for pancreatic cancer succeeded in a highly anticipated Phase 3 trial, the company said.

Delta Air Lines unveils first new Delta One suite in premium cabin arms race

Delta and other carriers are ramping up premium seats on board.

US, China seen as top AI beneficiaries in new growth forecast from ‘Doctor Doom’ economist

The economist famously dubbed “Doctor Doom” for predicting the 2008 financial crisis has seemingly morphed into a bullish “Doctor Boom” with his latest economic outlook. Nouriel Roubini now predicts that a “Cambrian explosion” of technological advances – including artificial intelligence – could propel the US’ potential economic growth to 4 per cent by 2030, and as high as 10 per cent in less than a quarter-century, overshadowing Middle East oil shocks and other near-term headwinds. Framing AI...

China, the Iran war and the chemical suddenly stoking global supply fears

China’s reported decision to halt sulphuric acid exports, together with the failure of peace talks between the United States and Iran over the weekend, risks driving prices higher and disrupting global mining and fertiliser supply chains that have few readily available alternatives. Beijing had indicated it would halt shipments of sulphuric acid from May, according to reports from Acuity Commodities and Bloomberg, though no official announcement has been made. Economists said food security sat...

Yuan’s ‘golden window’ is open, former PBOC governor says as US dollar credibility teeters

Faltering confidence in the US dollar has handed China a “golden window of opportunity” to promote the global use of its currency, according to a former head of the Chinese central bank. “The core driving force behind the current changes in the international monetary system is the United States’ own policy choices,” Zhou Xiaochuan was quoted as saying in a report published on Sunday by the New Economist, a Chinese think tank. He cited the broad application of American tariffs, the frequent use...

China’s tea-drink shops thirst for profits as price wars dry up prospects

China’s tea-drink market, with estimated annual sales of 370 billion yuan (US$54.2 billion), has become yet another example of involution as brutal price competition threatens to expel thousands of unprofitable small players. The dire scenario represents a rude reminder to those who hope to strike it rich by investing in a fast-growing business in mainland China’s vast consumer market, which abounds with boom-to-bust cycles. “Bubble tea is a dynamic market, and it is never easy to make money...

Amid fierce global competition, China launches national plan to boost AI education

China has launched a national action plan to embed AI across its education system, in a strategic push to future-proof its workforce amid intensifying global competition in advanced technologies. The “AI+ Education” action plan, unveiled by the Ministry of Education and four other ministerial-level bodies, mandates the integration of artificial intelligence at every stage of learning – from primary schools to lifelong education. The initiative builds on China’s long-term education plan to the...

EU tests of China’s C919 speed up as pilots stay in Shanghai ‘permanently’: sources

China’s aviation authorities have mobilised a range of resources to support European certification of the C919, the home-grown airliner aiming to take on Boeing and Airbus, with steady progress made in recent months, multiple sources said. Technicians and pilots from the European Union Aviation Safety Agency (EASA) have set up shop in Shanghai for more checks and in-flight tests in recent months, according to a source who took part in some technological exchanges with the agency. “They now stay...

The Dutch village at risk of being demolished

Moerdijk has been earmarked for removal, to make way for a vast electricity substation.

Hungary’s Orban concedes defeat as voters deliver sweeping rebuke to 16-year rule

Viktor Orban’s 16-year grip on Hungary is over, with the prime minister conceding Sunday’s election in a phone call with Peter Magyar, leader of the main opposition Tisza Party. “The election result is painful but clear. I congratulated the winning party,” Orban said from his election headquarters in Budapest. The result is a resounding rebuke to a government marked by authoritarianism and corruption, and by closer ties with Beijing, Moscow and Donald Trump’s Washington over Brussels. Hungarians...

How China’s fake Titanic sank like a stone – and became a symbol of local excess

When Su Shaojun launched an audacious plan to build a life-size replica of the Titanic, he felt he was on to a sure-fire winner. After all, James Cameron’s iconic 1997 film had been a worldwide hit – including in China, where it had grossed over US$200 million. At a press event to unveil the project in 2014, Su invited the actor Bernard Hill – who played the captain of the Titanic in the film – to appear alongside him as he told the assembled reporters in Hong Kong that his company aimed to...

Hyundai spearheads foreign EV comeback push in China with Ioniq brand

Hyundai Motor has spearheaded a comeback among foreign marques vying for a slice of the Chinese electric vehicle (EV) market, launching a new brand built around local technologies and partnerships. The South Korean carmaker, which reversed a six-year sales decline in 2025, said it would soon introduce production models under the Ioniq brand tailored for Chinese consumers, as it steps up its push into the world’s largest automotive market. “The newly launched Ioniq brand in China evolves beyond a...

Maduro’s capture sparked outrage, confusion – and a Chinese migration wave to Venezuela

Two months after the United States’ capture and forcible extradition of former Venezuelan president Nicolas Maduro – and as the South American country attempts to settle into a state of relative normalcy in the aftermath of the military incursion – a cohort of Chinese migrants are relocating there in search of business opportunities. Not all are new arrivals. Mey Hou, a long-term Venezuela resident in her 40s who fled the country during Maduro’s tenure, said many people from her hometown in...

China warns university students to beware of well-paid jobs offered by foreign spies

China’s top intelligence agency has warned university students to be wary of lucrative job postings that may serve as covers for foreign espionage, as they begin searching for work ahead of a record graduation season. Offers such as earning 800 yuan (US$117) a day for remote data processing or research projects promising easy money could be “traps” to recruit students to illegally collect sensitive information for foreign intelligence agencies, the Ministry of State Security said. “Be wary of...

‘Cancelling orders’ in China: how Hormuz oil crisis is hitting transport, manufacturing

As the Strait of Hormuz reopened and closed again this week, manufacturers across China are navigating a roller coaster of concerns rooted in supply and pricing volatilities. Soaring oil prices have already filtered through to processed fuel and petroleum-based raw materials that help power China’s manufacturing sector – the world’s largest – and a fragile two-week ceasefire between Iran and the United States is unlikely to restore pre-conflict stability in the near term, according to industry...

'Every drop of water counts': Fear for the future of Argentina's glaciers

A controversial law to ease protections for the glaciers has passed, opening the doors for mining.

Helpful analysts predict China property recovery now, soon and much later

A close mainland relative cried her eyes out while video-calling with my wife and me recently. Like many in China who have bought property since the late 2010s, she is sitting on a big loss with her flat outside downtown Chongqing. The city saw sales pick up around the time of the Spring Festival, traditionally an off-season. But when she tried her luck, the offers from potential buyers were brutal, and she called off the sale. Knowing that I work for an English-language newspaper in Hong Kong...

Vocational schools new front in China’s strategy to support businesses’ global expansion

In classrooms and training centres across China, a growing number of students from Southeast Asia, Africa and beyond are learning not just the Chinese language, but how the country’s factories operate, how supply chains are managed and how products are marketed and sold across borders. Hebei Software Institute, in the northern city of Baoding, has been at the forefront of the push. The vocational college said it had established multiple overseas-oriented programmes in recent years, particularly...

China’s next growth engine? An AI-powered intelligence dividend

As China enters its 15th five-year plan, policymakers face a structural constraint that cannot be eased with another round of infrastructure spending or property stimulus. The demographic dividend that powered four decades of expansion is fading. Industrial competition has intensified. The central economic question is no longer how fast China can grow, but how productively. Artificial intelligence, specifically the rise of AI agents, may offer part of the answer. Deployed at scale, these systems...

China banks buffer against AI contagions as US sweats over Anthropic’s Mythos

With US Treasury Secretary Scott Bessent and Federal Reserve chair Jerome Powell reported to have held urgent talks over Anthropic’s latest artificial intelligence model, experts are warning that immediate cybersecurity assessments are needed to avert potential economic damage running into the hundreds of billions of US dollars. Across the Pacific, however, analysts said China’s banks were taking a more cautious approach, as Beijing prioritises financial stability and intensifies monitoring of...

Why China’s green energy strategy may shield it from the Iran war oil shock

China’s green energy transition is expanding from a domestic security priority into a potent geopolitical asset at a time of heightened global uncertainty, according to the latest official reading of the country’s 15th five-year plan. That shift has been tested in recent weeks by the US-Israeli war in Iran and Tehran’s effective closure of the Strait of Hormuz – a chokepoint for 20 per cent of global oil and gas supplies. While Tehran signalled it would reopen the strait on Tuesday under a...

Chinese firms in Hungary face a post-election reckoning – no matter who wins

Travellers stepping out of the railway station at Hungary’s second-biggest city, Debrecen, are immediately greeted by a banner hanging over the street that reads “No battery, no deal”, “Debrecen belongs to Hungarians” and “Chinese, go home”. Targeting a mega-factory set up by Chinese battery giant Contemporary Amperex Technology Ltd (CATL), it also calls for a protest on Saturday, on the eve of Sunday’s general election in the central European nation. The banner was put up by the local candidate...

China’s factory-gate prices rise for first time in 3 years as Iran war bites

China’s factory-gate prices rose for the first time in more than three years in March, in an early sign that the US-Israel war on Iran is starting to affect producers in the world’s second-largest economy. The producer price index (PPI) – a measure of factory-gate prices – increased by 0.5 per cent year on year in March, according to data released by the National Bureau of Statistics on Friday. The result broke a long deflationary period stretching for 41 consecutive months, with rising global...

TV for dogs booms but are they watching?

TV channels for dogs are multiplying but research is mixed on whether dogs are watching.

Hormuz toll debate: China experts propose ‘innovative’ solutions as impasse persists

While the world remains divided over the unresolved issue of toll collection in the Strait of Hormuz, some Chinese experts have proposed pegging fees to oil prices or using exportable digital tokens from China for settlements. If tolls were to be imposed in this strategic chokepoint for global energy trade, settlement mechanisms could be “innovative”, said Wang Yiwei, director of the Institute of International Affairs at Renmin University. “Tolls and settlements could be tied to oil prices or...

China’s yuan settlements hit record, and the Iran conflict is looking like a catalyst

Rising demand for yuan settlement amid Middle East tensions is driving record transaction amounts in China’s cross-border payment system, analysts said, building on years of efforts to bolster financial infrastructure and expand its global network. “The Middle East conflict may have acted as a catalyst,” said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered, citing rising demand for yuan settlement, particularly in oil trade. China’s Cross-border Interbank...

China always a connector, never a coloniser, scholar says

Scholar and author Sheng-Wei Wang discusses how studying an ancient Chinese world map led her to conclude China explored and mapped the world before the European Age of Discovery and how the legacy of colonialism and a Eurocentric record of global history continue to affect power dynamics today. SCMP Plus readers get early access to articles in the Open Questions series. What first made you suspect that it was Chinese explorers and not Europeans who launched the true Age of Discovery? The...

The construction boss who built a new life after three years in prison

Traci Quinn, who was jailed for a drugs offence, has transformed herself and set up a successful firm.

The US refinery now processing Venezuelan oil

Chevron is now importing 250,000 barrels of crude per day from Venezuela.

The £5.30 orange juice that tells the story of why supermarket prices are sky high

Butter, chocolate, coffee and milk have all seen prices rocket. Tracing back through the story of one particular supermarket staple begins to explain why

Prepare for turbulence - how a prolonged Middle East conflict could reshape how we fly

The Gulf's hub airports made long-distance travel cheaper - but now their future looks unclear.

Sir John Curtice: Why Labour's Brexit focus has shifted from Leavers to Remainers

Will the pursuit of a closer relationship with the EU risk courting electoral disaster by alienating Brexit-backing voters?

The real impact of roadworks on the country - and why they're set to get worse

There is a fine balance between the benefits of improved infrastructure, versus the cost of disruption. Does the country have it right?

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