Protest using 10 coffins to symbolise struggling manufacturing industry to take place in Brussels Job losses in EU manufacturing will rapidly increase unless Brussels stops the “colonisation” of industry by Chinese component manufacturers, a leading industry trade body has warned. Eurometal predicts 300,000 job losses in manufacturing in the rest of 2026 because of expanding competition from China, which is now enjoying a record €1bn-a-day trade surplus with the bloc. Continue reading… The Guardian
Tag: Business
China prepares £40bn stimulus for financial sector amid fears over sluggish growth
Beijing wants banks and insurers to bolster investment in stock market as it helps to replenish cash reserves China will inject $54bn (£40bn) into its financial sector as Beijing attempts to shore up banks and insurers in the face of faltering economic growth. A host of financial institutions said they were due to receive billions of yuan in capital from state institutions including the ministry of finance and even the company that runs the country’s tobacco monopoly. Continue reading… The Guardian
Shein shares slide on fast-fashion retailer’s stock market debut
Shares in the fast-fashion brand Shein slumped by as much as 10% as the China-founded company made its long-anticipated trading debut on the Hong Kong stock exchange. The Singapore-headquartered company, once valued at almost $100bn (£74bn), went public on Tuesday pricing shares at HK$48.56, valuing the business at just over $26bn. However, minutes after the flotation, which raised HK$13.6bn, the stock fell as much as 10%, pushing the online retailer’s valuation below $25bn. Shein’s share price recovered most of its early trading plunge, closing at HK$48.50, just 0.12% down on…
From mixed martial arts to mechanical dogs: the World Robot Conference 2026 – in pictures
More than 3,000 products were shown at the 2026 World Robot Conference in Beijing as China showcased its rapidly growing robotics industry. The event, which ran from 19-23 August, showcased the latest advances across the robotics industry, from humanoid robots to embodied intelligence and cutting-edge components The Guardian
Iran vows to retaliate against countries that cooperate with fresh US sanctions
Tehran has vowed to retaliate against any country that cooperates with the US attempt to impose fresh sanctions against Iran in what the Treasury secretary, Scott Bessent, has billed as “the single greatest financial offensive ever marshalled against an adversary”. In advance of the US announcement, the United Arab Emirates, Iran’s single biggest trading partner in the Middle East, announced it was ending all trade with Iran, a move Tehran believes was coordinated between Washington and the UAE. The US has said it will impose sanctions on any country or…
Fast-fashion giant Shein aims for $27bn valuation in Hong Kong market debut
Shein will debut on the Hong Kong stock exchange on 1 September, the fast-fashion retailer said on Monday, in a long-awaited listing that would value the group at close to $27bn. Founded in China and now headquartered in Singapore, the online retailer secured Beijing’s approval last month to make its initial public offering in Hong Kong. Its valuation has dropped by about 70% from a near $100bn private market peak four years ago, as it aims to raise up to HK$13.86bn ($1.77bn) in its Hong Kong IPO launched on Monday.…
Tesla recalls nearly 3m vehicles in China over door handle safety risks
Tesla and other carmakers are making a major recall of more than 4m vehicles in China over safety concerns mostly related to their door handles, according to Chinese authorities on Friday. The US carmaker is recalling about 2.98m China-made and imported EVs including Model 3, Model Y, Model X and Model S over door-handle safety risks, according to China’s state administration for market regulation. The recall, the largest this year, according to Chinese media, comes a few months after Chinese authorities said in February that starting next year, it would…
Founder of China’s Evergrande jailed for life after pleading guilty to fraud
Hui Ka Yan also forfeits all his personal property and the company he set up is given hefty fines Business live – latest updates The founder of Evergrande, one of China’s largest property developers, has been sentenced to life in prison and had all of his personal property confiscated. Hui Ka Yan, 67 and once named by Forbes as China’s richest man, with a net worth of $42.5bn (£31.2bn) in 2017, pleaded guilty in April to eight charges. Continue reading… The Guardian
Is the US actually too chicken to take on China for trade?
Since China offered a truce in the trade war last October following its threat to deprive the United States of rare-earth magnets, the Trump administration has been happy to stop escalating. After all, imports from China have been falling, down by 40% in the year to June, compared with the same period in 2024. Best to declare victory and call it a day. But the US hasn’t won this battle – and there’s strong evidence to show it’s too chicken to really try. Last week the White House was forced…
Chinese carmaker Chery to set up UK research centre
The Chinese carmaker behind the irreverently nicknamed “Temu Range Rover” is plotting further UK expansion with a major research and development centre in England. Chery, which makes the Jaecoo and Omoda car brands, said the launch of a new R&D site was “the next step in our long-term plan” for Britain as it also moves towards manufacturing its cars in the UK. Chery’s sales are growing at breakneck pace in Britain. In July, the Chery, Omoda and Jaecoo brands accounted for nearly 8% of UK market share, up from 3%…