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A protracted battle in China’s food-delivery market has chopped $100 billion in market value from Alibaba Group Holding Ltd., with no end in sight for damage to profits and investor confidence. Its Hong Kong-listed shares plunged 28% from a March high through Thursday, nearly double the loss in a gauge of Chinese tech peers. Rivals … Read more
Tesla CEO Elon Musk wears a cap with the words “Gulf of America” as he attends a cabinet meeting held by U.S. President Donald Trump at the White House in Washington, D.C., U.S., April 30, 2025. Evelyn Hockstein | Reuters Tesla stock climbed about 5% Friday after threats and insults between CEO Elon Musk and … Read more
OPEC+ agreed to surge output again in June, as the group’s leaders continue an accelerated revival of supply aimed at punishing over-producing members that has sent crude prices plunging. Key nations led by Saudi Arabia and Russia agreed to add 411,000 barrels a day next month, according to a statement on OPEC’s website following a … Read more
While much of the world is focused on a volatile international trade war, two of China’s largest internet companies are inflicting greater damage on each other at home. JD.com Inc. has launched a costly battle to steal market share away from food-delivery leader Meituan, while the latter has been encroaching on the former’s e-commerce stronghold. … Read more
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The Trump administration has excluded smartphones and other consumer electronics from its steep “reciprocal” tariffs in a significant boost for Big Tech as the White House battles to calm global markets after launching … Read more
Stay informed with free updates Simply sign up to the Financial services myFT Digest — delivered directly to your inbox. Large institutional investors are studying options to shed stakes in illiquid private equity funds after the rout in global financial markets pummelled their portfolios, according to top private capital advisers. The calls by pensions and … Read more
Wall Street remained in fear mode over President Donald Trump’s tariffs on Sunday evening as futures pointed to more steep losses. Dow Jones Industrial Average futures tumbled 1,531 points, or 4%, with S&P 500 futures and Nasdaq futures also flashing 4% declines. That follows a devastating week that saw the worst selloff since the early days … Read more
Jakub Porzycki | Nurphoto | Getty Images Bitcoin fell below the $79,000 level as investors braced for more financial market volatility after U.S. equites suffered their worst decline since 2020 on the rollout of President Donald Trump’s restrictive global tariffs. The price of bitcoin was last lower by 4% at $78,835.07, according to Coin Metrics, … Read more
A man checks his phone next to an electronic board showing stocks on the Heng Seng Index in Hong Kong on April 3, 2025. Peter Parks | Afp | Getty Images China’s Foreign Ministry on Saturday said “the market has spoken” following the U.S. imposition of sweeping new tariffs and called for the White House … Read more
With the Philadelphia Eagles blowing out the Kansas City Chiefs in Super Bowl LIX, the party was on earlier than expected on Broad Street. The Birds stopped the Chiefs’ quest for three consecutive titles with their 40-22 victory in the big game, good for their second Lombardi Trophy in franchise history. Well before the game … Read more
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