22 h. ago Is a new car shortage imminent? Chip crisis that strangled production during Covid pandemic on the brink of repeat

European car producers could run out of semiconductor chips by the end of next due to ongoing Nexperia chip supply crisis. New car production could halt and used car prices shoot up.

Events

23 h. ago Nexperia halts chip supplies to China in threat to global car production

Dutch-controlled company informs customers about suspension but is said to want to de-escalate trade warNexperia, the EU-based automotive chipmaker at the centre of a geopolitical dispute, has suspended supplies to its Chinese factory, stepping up a trade war that threatens to halt production at carmakers around the world.The company wrote to customers this week informing them all supplies to a Chinese plant had been suspended. Continue reading...

Events

42 h. ago Britain would do well to remember where its power over China lies | Simon Jenkins

It’s ridiculous for the government to splurge on defence while it slashes spending on its most valuable asset: cultureThe US has backed down in its tariff war with China. Thanks to Donald Trump’s egotistical diplomacy, rare earths can again flow one way, soya beans the other, and less of the chemicals used to make fentanyl in between. No matter that the war was Trump’s own idea and seems to have been a stunt. The stunt is over. Trump has played his favourite game of dealmaker, much to the discomfort of millions.Meanwhile Britain still cannot make up its mind if China is its enemy. In 2008 British officials visited the Beijing Olympics authorities to discuss the next games in London in 2012. The government told them to “raise” human rights issues, about which the British government was most concerned. I am told the Chinese reacted with sympathy at the Britons’ embarrassment at broaching the matter, and then everyone got down to business. Soon China was a friend, certainly to David Ca...

Politics

49 h. ago Donald Trump eases China tariffs as nations agree trade war truce

The meeting on Thursday looked like an attempt to reset the U.S.-China narrative

Politics

57 h. ago Trump starts new nuclear arms race as he orders Department of War to begin testing 'immediately'... just moments before facing off with China's Xi

The president ordered the Pentagon to begin their first nuclear tests since 1992 just moments before his scheduled meeting with Chinese President Xi Jinping.

Events

66 h. ago EU carmakers ‘days away’ from halting work as chip war with China escalates

Industry body says reserves of Nexperia semiconductors are dwindling after Beijing bans exports of key componentsCarmakers in the EU are “days away” from closing production lines, the industry has warned, as a crisis over computer chip supplies from China escalates.The European Automobile Manufacturers’ Association (ACEA) issued an urgent warning on Wednesday saying its members, which include BMW, Fiat, Peugeot and Volkswagen, were now working on “reserve stocks but supplies are dwindling”. Continue reading...

Events

69 h. ago EU carmakers ‘days away’ from factories halting work in chip war with China

Industry body says reserves of Nexperia semiconductors are dwindling after Beijing bans exports of key componentsCarmakers in the EU are “days away” from closing production lines, the industry has warned as a crisis over computer chip supplies from China escalates.The European Automobile Manufacturers’ Association (ACEA) issued an urgent warning on Wednesday saying its members, which include Volkswagen, Fiat, Peugeot and BMW, were now working on “reserve stocks but supplies are dwindling”. Continue reading...

Events

2 d. ago EU carmakers ‘days away’ from halting production as chip crisis deepens

European Automobile Manufacturers’ Association say carmakers are relying on reserve stock of Nexperia chip after China’s export banCarmakers in the EU are “days away” from closing production lines, the industry has warned as a crisis over computer chip supplies from China escalates.The European Automobile Manufacturers’ Association (ACEA) issued an urgent warning on Wednesday saying its members, which include Volkswagen, Fiat, Peugeot and BMW, were now working on “reserve stocks but supplies are dwindling”. Continue reading...

Events

3 d. ago Trump and Xi talks could end months of global economic chaos

High on agenda for the leaders of the US and China will be rare earths and tariffs, with a chance of a relationship resetAhead of Thursday’s long-awaited first meeting between Donald Trump and Xi Jinping since the US president’s return to office, officials from both sides have been hammering out the contours of what a trade deal between Washington and Beijing might look like, an agreement that could bring an end to months of global economic chaos caused by the US-China trade war.The two leaders have not met in person since 2019. Since then, the war in Ukraine and increasing concern in Washington about China’s technological advances, as well as longstanding issues about the imbalanced US-China trade relationship, have strained the bonds between the two superpowers. Continue reading...

Politics

7 d. ago Trump embarks on 'riskiest' foreign trip of his presidency to China as trade war threatens to explode

Donald Trump is jetting off for a trip through Asia on Friday just hours after reigniting a tariff fight with Canada and days after placing new sanctions against Russia.

Events

8 d. ago Labour goes to war with CPS over China spying trial claiming officials warned of evidence's shortcomings almost two YEARS before it collapsed

Two Downing Street officials at the heart of the affair said they warned prosecutors that evidence would stop short of calling the Communist regime an 'enemy' of Britain in December 2023.

Events

8 d. ago UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits record high – business live

Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...

Economics

9 d. ago UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits fresh record high – business live

Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...

Economics

9 d. ago UK manufacturers hit by largest drop in orders since 2020; Oil price jumps after Rosneft and Lukoil sanctioned – business live

British manufacturers see the weakest prospects for orders since Covid-19 pandemic, CBI reports, after demand weakened in last three monthsYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, ...

Economics

9 d. ago Oil price jumps after US sanctions Russia’s Rosneft and Lukoil; White House considers software curbs on China – business live

Rolling coverage of the latest economic and financial newsThe oil price has jumped after the US has sanctioned Russia’s two largest oil companies to increase pressure on the Kremlin to negotiate an end to its war against Ukraine.The White House’s new measures against Rosneft and Lukoil are the US’s first sanctions against Russia since Trump’s return to office in January. All assets belonging to the two companies in the US have been frozen, and US companies and individuals will be barred from doing business with them. Continue reading...

Events

1 week ago Wall Street inches higher in premarket as worries over the U.S.

Wall Street pointed toward gains before the open Monday, overcoming worries over bank lending and the trade war with China

Politics

1 week ago To hit back at the United States in their trade war, China borrows from the US playbook

China has expanded its export rules on rare earths, requiring foreign firms to get approval for exporting products containing even small amounts of China-originated materials

Events

2 w. ago UK risks trade war with China if London 'super embassy' is not approved

UK risks trade war with China if London 'super embassy' is not approved  The i Paper

Events

2 w. ago No10 and CPS 'at war' over China spying case as prosecutors deny blocking release of evidence about Beijing 'threat' that caused collapse

Prosecutors last night denied suggestions that they blocked the release of a witness statement made by a senior security official for the trial of Christopher Cash and Christopher Berry.

Events

2 w. ago US and China begin collecting port fees on each other’s vessels amid trade war

A return to an all-out trade war appeared imminent last week, after China announced a major expansion of its rare earths export controls

Events