Economy

A new industry report released Monday shows China made big strides last year toward an EV-driven future, as domestic sales of all types of electric vehicles rose by 40% in 2024. Sales of gasoline powered cars tumbled, including foreign…
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— The Biden administration announced Monday new restrictions on the export of the most advanced artificial intelligence chips and proprietary parameters used to govern the interactions of users with AI systems. The rule, which will undergo…
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Ethiopia relaunched its stock exchange, the Ethiopian Securities Exchange, on Friday after a 50-year absence. The operations of the Ethiopia Securities Exchange were stopped in 1974 following the takeover by a communist military government.…
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WASHINGTON — U.S. hiring picked up unexpectedly in December as employers added a strong 256,000 jobs, another sign of the economy's resilience in the face of high interest rates. Job growth rose 212,000 last month from November, the Labor…
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London — Britain's Treasury chief is travelling to China this weekend to discuss economic and financial cooperation between the countries, as the U.K.'s Labour government seeks to reset strained ties with Beijing. The Treasury said Friday…
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Beijing — China said Thursday that an investigation had found the European Union imposed unfair "trade and investment barriers" on Beijing, marking the latest salvo in long-running commercial tensions between the two economic powers.…
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WASHINGTON/TOKYO — U.S. President Joe Biden's decision to block Nippon Steel's $14.9 billion bid for U.S. Steel cast a shadow over Secretary of State Antony Blinken's visit to Japan on Tuesday for farewell meetings with Washington's most…
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Washington — Japan’s Nippon Steel and U.S. Steel are filing a federal lawsuit challenging the Biden administration's decision to block a proposed nearly $15 billion deal for Nippon to acquire Pittsburgh-based U.S. Steel. The suit, filed…
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Washington — President Joe Biden has made good on his months of public opposition to the proposed purchase of American company U.S. Steel by Japan’s Nippon Steel, announcing Friday he is blocking the $14.9 billion takeover. The acquisition…
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DETROIT — U.S. new car sales in 2024 continued to rise from their pandemic lows, bolstered by replenished inventories, higher incentives and surging demand for hybrid vehicles, automakers reported on Friday. Sales of new vehicles finished…
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