Sinopec $600028.SS, Asia's largest oil refiner, has resumed buying Russian crude oil following a brief pause. The decision to restart imports came after a comprehensive assessment of risks associated with the latest wave of U.S. sanctions impacting Russian energy entities. The move reflects ongoing market volatility, as both supply chains and strategy decisions by leading players are increasingly shaped by a complex regulatory environment.
Chinese startup Zhipu AI is ramping up its international expansion, bolstered by a strategic partnership with Alibaba Cloud $BABA . This move was highlighted by the company’s executives during a nationwide technology conference, showcasing its commitment to providing governments worldwide with the tools to launch local sovereign AI agents. As the company prepares for its initial public offering (IPO), Zhipu AI’s growing global presence underscores its ambition to become a leader in the artificial intelligence sector.
French automotive supplier OPmobility $OPM.PA is taking proactive measures to reduce costs in response to the economic impacts of U.S. tariffs. CEO Laurent Favre shared insights on the company's strategy during a media briefing, highlighting the potential challenges ahead given the company's ties with major U.S. automakers, including General Motors $GM, Stellantis $STLAM.MI, and Ford $F.
Swiss solar panel manufacturer Meyer Burger $MBTN.SW announced on Wednesday that it will implement a reduction in work hours for approximately 300 employees at its German facility starting May 1. This adjustment comes in response to temporary supply chain disruptions affecting the availability of materials essential for the production of high-efficiency solar panels.
Woodside Energy $WDS, Australia’s largest gas producer, announced on Wednesday that it is currently assessing the implications of U.S. tariffs and other trade measures on its liquefied natural gas (LNG) production project in Louisiana. As the project moves closer to final approval, these evaluations are crucial for ensuring long-term viability and competitiveness in the global LNG market.
Ola Kaellenius, the CEO of Mercedes-Benz $MBG.DE, emphasized the need for the European Union to pursue a "fair solution" that enables a level playing field for Chinese-manufactured electric vehicles (EVs) entering the European market. His comments, made at the Shanghai Auto Show, spotlight the growing tensions in the automotive industry as competition intensifies between European automakers and their Chinese counterparts.
Chinese automotive brand Lynk & Co made headlines at the Shanghai Auto Show on Wednesday, announcing that its latest model, the Lynk & Co 900, has received more than 40,000 pre-orders prior to its official launch scheduled for April 28. This strong pre-launch interest highlights the growing momentum of Lynk & Co within the competitive automotive market.
The International Monetary Fund (IMF) has shared a compelling outlook on the economic impact of artificial intelligence (AI), projecting that its adoption will boost global GDP by approximately 0.5% annually from 2025 to 2030. This forecast suggests that the economic benefits derived from AI applications will outweigh the associated carbon emissions from the data centers essential for AI model operations. The report, released during the IMF's annual spring meeting in Washington, highlights both the transformative potential of AI and the need for careful management of its societal implications.
Oslo-based oil and gas company Vaar Energi $VAR.OL released its first-quarter earnings report on Wednesday, revealing an operating profit that fell short of market expectations. Despite a decline in profits, the company announced its intention to maintain dividend levels as it prepares for a projected increase in production over the coming months.
Shares of HCLTech $HCLTECH.NS experienced an 8% increase on Wednesday following the company's announcement of a robust revenue growth forecast. This optimistic outlook stands in stark contrast to the more cautious predictions made by larger competitors within the Indian IT sector, including Infosys $INFY and Wipro $WIPRO.NS. As the sector grapples with the looming potential for growth deceleration, largely due to U.S. tariff policies, HCLTech's optimistic projections have captured considerable attention.
Swedish medical equipment manufacturer Getinge $GETI-B.ST has announced its first-quarter earnings, revealing that profits fell slightly short of market expectations. The company attributed this shortfall to a decline in sales of operating tables and challenges within its bioprocessing product category. Despite these headwinds, Getinge reported a significant year-over-year increase in adjusted earnings before interest, taxes, and amortization (EBITA).
Subdivisions of Toyota Motor $7203.T, Hino Motors $7205.T, and Mitsubishi Fuso Truck and Bus, a subsidiary of Daimler Truck $DTG.DE, are on the brink of finalizing a merger agreement. According to a report by Nikkei Asia, these automotive groups plan to establish a holding company focused on commercial vehicles, set to be listed on the Tokyo Stock Exchange by April 2026. This collaboration reflects the growing trend in the automotive industry toward consolidation and strategic partnerships.
