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China slams US 'suppression' as trade war deepens
Beijing accused the United States Wednesday of "suppression" after its postal service said it was suspending parcels from China and Hong Kong, a move that could hit e-commerce giants Temu and Shein. A postal services worker at the General Post Office in Macau told AFP that parcels could still be sent to the United States from the semi-autonomous Chinese city.
Baltics to cut Soviet-era ties to Russian power grid
Baltic states Lithuania, Latvia and Estonia are to disconnect from the Russian power grid on Saturday, a politically-charged move that severs their Soviet-era energy ties with Moscow.
US Postal Service says suspending parcels from China
The US Postal Service (USPS) said Tuesday it was temporarily suspending inbound parcels from China and Hong Kong, shortly after President Donald Trump's imposition of fresh tariffs targeting Beijing. However, the USPS gave no reason for its pause on Tuesday.
Santander reports record profit for third straight year
Spanish banking giant Santander announced record annual profits for a third consecutive year on Wednesday as a strong commercial performance offset the impact of falling interest rates. But Santander UK chair William Vereker announced that he would leave his post this year, a decision which business media attributed to disagreements with Botin. vab/imm/bc
Nissan shares plunge as report says Honda merger talks off
Nissan shares plunged on Wednesday after Japan's Nikkei business daily said the carmaker had decided to withdraw from merger talks with rival Honda. But the smaller automaker's chief said this week it would make a final decision on whether to join the Honda-Nissan merger talks in mid-February or later.
China holds out hope last-minute deal can avert US trade war
China's new tariffs on US imports like oil, coal and cars are relatively modest in scale, suggesting that Beijing is hoping for a last-minute deal but also giving them the option to inflict more pain if needed, analysts say. Far from inflicting deep pain, analysts say Beijing's goal is to send a message to Washington: that China can and will retaliate to swingeing tariffs.
Toyota announces Lexus EV plant in Shanghai
Japan's Toyota said Wednesday it will build an electric vehicle plant in Shanghai for its luxury Lexus brand, at a time when many foreign car companies are struggling in China. Toyota said it had "decided to establish a wholly owned company for the development and production of Lexus BEVs (battery electric vehicles) and batteries in Shanghai, China".
Asian markets stutter as traders weigh China-US trade flare-up
Asian markets stumbled Wednesday and gold hit a new record as investors kept tabs on China and the United States after they exchanged tariffs, sparking fears of another debilitating trade war between the economic superpowers. Gold hit a fresh peak of $2,853.82 as investors rushed into the safe-haven metal.
Google shares slide on spending plans despite sales jump
Google's parent company Alphabet on Tuesday reported revenue jumped in the recently-ended quarter, but shares sank on concerns it may be pouring too much money into artificial intelligence.
AFP
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