8 h. ago Google hit with US$3.45 billion EU antitrust fine over adtech practices

Alphabet’s Google was hit with a €2.95 billion (US$3.45 billion) EU antitrust fine on Friday for anticompetitive practices in its lucrative adtech business, marking its fourth penalty in its decade-long fight with EU competition regulators. The move by the European Commission was triggered by a complaint from the European Publishers Council and comes amid a threat by US President Donald Trump to retaliate against the European Union for any push against Big Tech. The EU competition enforcer had...

Economics

8 h. ago EU hits Google with US$3.45 billion fine, drawing tariff threat from Trump

The EU on Friday slapped Google with a massive €2.95 billion (US$3.45 billion) antitrust fine for favouring its own advertising services, drawing a furious rebuke from US President Donald Trump and a threat of fresh tariffs against Europe. Google vowed to appeal the decision by the European Commission, which accused the US firm of distorting competition in the 27-nation bloc. “Google abused its dominant position in adtech, harming publishers, advertisers, and consumers. This behaviour is illegal...

Economics

9 d. ago Why Trump’s furniture tariffs could complicate efforts to reassemble China trade

US President Donald Trump’s renewed threat to impose tariffs on imported furniture could erode some of China’s exports while doing little to bring manufacturing back to America as he promised, according to analysts. And they added that such a move risks escalating tensions between the world’s two largest economies, whose earlier extension of a trade truce, coupled with conciliatory statements, had suggested a more amenable posture in trade negotiations. Trump announced plans to impose steep...

Politics

1 week ago Trump’s 200% rare earth tariff threat proof of China’s leverage: analysts

Revived threats of tariff increases from US President Donald Trump over China’s supply of rare earth elements highlight the minerals’ importance in global manufacturing, analysts said – and show Beijing its dominance in this area remains a potent source of leverage in trade negotiations. China will face “200 per cent tariffs, or something” unless it continues to ensure shipments of permanent magnets containing the minerals will reach the US, Trump said during a meeting with South Korean...

Politics

1 week ago Trump’s fresh tariff threat, China’s invisibility tech: SCMP daily highlights

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. Trump says China must ensure rare earth magnets or face 200% tariffs US President Donald Trump said on Monday that China must ensure the US supply of rare earth magnets or face 200 per cent tariffs, and that he will continue to allow Chinese students into the country. 2. Why China and US still invest in crewed military systems when they have drones Rapid...

Politics

2 w. ago Caught between Washington and Beijing: India faces tariff threat | Daily Sabah

Caught between Washington and Beijing: India faces tariff threat | Daily Sabah  Daily Sabah

Events

2 w. ago China is turning away from Canadian canola. Will Australia fill the gap?

Canada’s status as the dominant supplier of canola to China appears to be under threat as shipments plunge amid a tit-for-tat tariff battle between the two nations. And Australia is already emerging as an alternative source of the staple vegetable oil, analysts and industry insiders say. China’s imports of canola from Canada fell by 55 per cent year on year to 173,250 tonnes in July – the lowest level recorded since July 2023 – Chinese customs data showed. The value of those shipments was down...

Politics

2 w. ago Russia offers India ‘special mechanism’ to keep buying its oil

Russia expects to continue supplying oil to India thanks to a “special mechanism” despite warnings from the United States, Russian embassy officials in New Delhi said on Wednesday, adding that Moscow hopes trilateral talks will soon take place with India and China. US President Donald Trump has announced an additional tariff of 25 per cent on Indian goods exported to the US from August 27, as a punishment for buying Russian oil, which constitutes 35 per cent of India’s total imports compared...

Politics

4 w. ago Fierce Pharma Asia—Sanofi pulls Praluent in China; Trump updates drug tariff threat; An early

Fierce Pharma Asia—Sanofi pulls Praluent in China; Trump updates drug tariff threat; An early-stage capital crunch  Fierce Pharma

Events

4 w. ago Will oil prices fall despite Trump’s tariff threat over Russian supply?

Oil markets are bracing for lower prices despite US President Donald Trump’s threat of punitive tariffs on buyers of Russian oil, including India and China, with higher output from global producers set to compensate for any potential supply drop from Russia. The broad Opec+ group, comprising oil-producing nations taking part in initiatives by the Organisation of Petroleum Exporting Countries, agreed on Sunday to raise production by 547,000 barrels per day for September. Concerns have mounted...

Politics