Chinese auto sales slumped in June as the domestic economy remained sluggish, but buoyant exports offset the decline at home, an industry association said Wednesday.
Sales in China dropped 7.4% compared to a year earlier to 1.8 million cars, while exports rose 29% to 400,000 units, the China Association of Automobile Manufacturers said in a monthly report.
Full StoryRussia's parliament on Wednesday approved a bill that would raise income taxes for the rich, in a move to help fill government coffers during t he fighting in Ukraine.
The bill was endorsed in the final third reading by the lower house, the State Duma, and hours later by the upper house, the Federation Council. It must be signed by President Vladimir Putin to become law.
Full StoryChina announced an investigation Wednesday into whether the European Union has adopted unfair trade practices in its probes of Chinese companies bidding on projects in the 27-nation bloc. The move is the latest in a brewing trade war between the two economic giants.
The investigation will focus on wind power, photovoltaics, security equipment and electric trains, the Chinese Commerce Ministry said.
Full StoryA Delaware judge heard arguments Monday over a massive and unprecedented fee request by lawyers who successfully argued that a massive and unprecedented pay package for Tesla CEO Elon Musk was illegal and should be voided.
Attorneys for a Tesla stockholder who challenged Musk's 2018 compensation package are asking Chancellor Kathaleen St. Jude McCormick to award them legal fees in the form of stock in the electric vehicle company valued at more than $7 billion at current trading prices. The 2018 compensation package for Musk that was rescinded by the judge was potentially worth more than $55 billion.
Full StoryTwice each month, executives at the dating app company Hinge gather for a team meeting. But rather than dive into discussions about metrics or revenue, they begin by simply talking.
For the first 30 minutes of the two-hour meeting, these coworkers reveal hopes and anxieties — what they worry about, what they're grateful for, what they're feeling. Even at a company focused on connecting people, forging real relationships in the workplace takes effort, Hinge CEO Justin McLeod told an audience at the South by Southwest conference earlier this year. He was co-presenting at the event with Ann Shoket, whose initiative to combat workplace loneliness is called "10 Minutes to Togetherness."
Full StoryGlobal shares were mostly higher Tuesday, with Tokyo's benchmark hitting another record.
France's CAC 40 lost 0.5% in early trading to 7,590.35, while Germany's DAX fell 0.3% to 18,418.81. Britain's FTSE 100 rose 0.2% to 8,209.03. The future for the Dow Jones Industrial Average was up 0.1% and that for the S&P 500 rose 0.2%.
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Denmark has charged the Nordic bank Nordea with laundering 3.5 billion euros ($3.8 billion) for Russian clients, the country's financial prosecutors said Friday.
Full StoryShares advanced Friday in Europe after Britain's Labour Party prevailed over the Conservatives in this week's national election.
In London, the FTSE 100 climbed 0.3% to 8,264.59. The British pound rose to $1.2779 from $1.2760 late Thursday. The euro rose to $1.0830 from $1.0812.
Full StoryTsenguun Saruulsaikhan, a young and newly minted member of Mongolia's parliament, is unhappy with below-cost electricity rates that she says show her country has yet to fully shake off its socialist past.
Most of Mongolia's power plants date from the Soviet era and outages are common in some areas. Heavy smog envelops the capital Ulaanbaata r in the winter because many people still burn coal to heat their homes.
Full StoryThe German government on Friday agreed on a budget for 2025 and a stimulus package for Europe's largest economy, ending a monthslong squabble that threatened to upend Chancellor Olaf Scholz's center-left coalition.
Scholz, a Social Democrat, and leaders of the Free Democrats and Greens agreed on the budget early Friday after marathon talks, German news agency dpa reported, citing party sources. The leaders were expected to provide details at a news conference later on Friday.
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