Beijing says EU imposed unfair trade barriers on Chinese firms
Beijing — China said Thursday that an investigation had found the European Union imposed unfair “trade and investment barriers” on Beijing, marking the latest salvo in long-running commercial tensions between the two economic powers. Officials announced the probe in July…
Blinken visits Japan as Nippon Steel decision weighs on relations
WASHINGTON/TOKYO — U.S. President Joe Biden’s decision to block Nippon Steel’s $14.9 billion bid for U.S. Steel cast a shadow over Secretary of State Antony Blinken’s visit to Japan on Tuesday for farewell meetings with Washington’s most important ally in…
Nippon, US Steel file suit after Biden administration blocks $15 billion deal
Washington — Japan’s Nippon Steel and U.S. Steel are filing a federal lawsuit challenging the Biden administration’s decision to block a proposed nearly $15 billion deal for Nippon to acquire Pittsburgh-based U.S. Steel. The suit, filed Monday in the U.S….
US new car sales hit 5-year high in 2024, helped by hybrids
DETROIT — U.S. new car sales in 2024 continued to rise from their pandemic lows, bolstered by replenished inventories, higher incentives and surging demand for hybrid vehicles, automakers reported on Friday. Sales of new vehicles finished at 15.9 million last…
FAA chief: Boeing needs culture shift to put safety above profits
A year after a panel blew out of a Boeing 737 Max during flight, the nation’s top aviation regulator says the company needs “a fundamental cultural shift” to put safety and quality above profits. Mike Whitaker, chief of the Federal…
Biden blocks Japan’s Nippon Steel from buying US Steel
President Joe Biden said Friday that he was blocking the proposed $14.9 billion acquisition of American company U.S. Steel by Japan’s Nippon Steel. Analysts said rejection of the deal could hurt relations with Japan, a key ally and trade partner….
Biden blocks Japan’s Nippon Steel from buying US Steel
Washington — President Joe Biden has made good on his months of public opposition to the proposed purchase of American company U.S. Steel by Japan’s Nippon Steel, announcing Friday he is blocking the $14.9 billion takeover. The acquisition would “place…
Tesla annual deliveries fall for first time as incentives fail to drum up demand
Tesla reported its first fall in yearly deliveries on Thursday as lucrative year-end incentives for the Elon Musk-led EV maker’s aging line up and the new Cybertruck pickup failed to lure customers wary of high borrowing costs. Shares of the…
US oil production rose to record high in October, data show
NEW YORK — U.S. oil production rose 260,000 barrels per day month-over-month to a record 13.46 million bpd in October as demand surged to the highest levels since the pandemic, data from the U.S. Energy Information Administration showed on Tuesday….
No ‘Santa Claus rally’ for global stocks as equities slide
new york — Global stock markets mostly fell Monday in jittery holiday trading ahead of a potentially tumultuous 2025 that will see Donald Trump return to the White House. Wall Street’s three main indices slumped to end the day, adding…