Chinese EV Maker BYD Aims to Conquer World Markets as the Un-Tesla

Already the biggest electric vehicle producer at home, it bets low prices and producing its own batteries and chips will make it a global leader.

Taiwan Cuts GDP Growth Forecast as Global Headwinds Intensify

Taiwan faces several headwinds this year, including waning worldwide demand for electronics and semiconductors — critical exports for the economy. Warning signals from China and the US, Taiwan’s two largest export markets, are also weighing on the outlook. An economic slowdown in the US has sparked recession talk, while the Chinese economy has struggled with … Read more

China IPO Market Trounces the World With Record $58 Billion Boom

Some of the deals that boosted the tally in China have political undertones. Telecom provider China Mobile Ltd. and energy producer CNOOC Ltd., the biggest debuts of 2022, both listed at home after being kicked out of the US following their inclusion on a Donald Trump-era blacklist. In China, they raised $8.6 billion and $5 … Read more

China Is Moving to Tighten Label Rules on Goods From Taiwan

Still, China is Taiwan’s largest trading partner, with bilateral trade rising 26% on year to $328.3 billion in 2021. Taiwan held a sizable surplus against China, with exports from the island exceeding imports by $172 billion, according to Chinese customs data. While Beijing could leverage that advantage by sanctioning exporters, China also relies on Taiwan … Read more

Intel CEO Says Third Quarter Is ‘Bottom’ After Dour Forecast

In the second quarter, revenue fell 22% to $15.3 billion, significantly below the average analyst estimate of $18 billion. Per-share profit excluding some items was 29 cents, Intel said, while analysts had predicted 69 cents. Sales in the current period will be as low as $15 billion, compared with projections of $18.7 billion, and gross … Read more

Auto Workers Hold Lots of Cards Even If US Heads for Recession

Volkswagen, which is in the midst of adding 1,000 new people to its Chattanooga, Tennessee plant, has given workers a 10% raise and paid new hires $ 3,000 signing bonuses. The company now starts people off at $ 21.10, or $ 22.60 if you take a night shift, with another 8% bump for showing up … Read more

Love of Big Cars, Chip Dearth Pushes Out Wait Times for Mahindra

Outstanding customer pre-orders for the seven-seater XUV700, which the Indian automaker launched in August, are running to around 70,000, Executive Director Rajesh Jejurikar said in an interview last week. While the chip shortage has eased from a peak late last year, Mahindra is still experiencing some supply chain pain points, he said.