Alibaba trims stake in Xpeng for second time in December
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- S&P closes at record high as soft jobs report eases rate-hike concerns
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U.S. considers raising tariffs on China EVs
December 21, 2023 8:12 AM ESTThe Wall Street Journal reports Wednesday that, citing unnamed sources familiar with the matter, that the United States is in discussions and may choose to increase tariffs on some Chinese goods, including electric vehicles (EVs).
In recent years, the growth of China's vehicle exports has been driven by excess production capacity and a decline in domestic demand within the world's largest automotive market. Projections from China Merchants Bank International suggest a 25% increase next year, reaching... More
Alibaba (BABA) commerce chief shifts roles as CEO takes more control of core business
December 20, 2023 10:24 AM ESTAlibaba (NYSE: BABA) has made changes in its leadership. The company has replaced one of its most experienced executives who was leading the e-commerce division. Additionally, they plan to create a new firm to manage their investment assets worldwide.... More
