
Chinese Firms Warn EU Procurement Curb Could Hurt Trade Ties
A Chinese business lobby group warned that EU actions to curb access of the country's medical device makers to government contracts in the bloc will hurt trade ties.
The China Chamber of Commerce to the EU expressed 'profound disappointment' over the EU's use of a trade tool to limit Chinese companies' participation in public procurements, according to a Monday statement from the Chinese group.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
NIO's Q1 Loss Wider Than Expected, Revenues Increase Y/Y
NIO Inc. NIO incurred a loss per American Depositary Share ('ADS') of 45 cents in the first quarter of 2025, which was wider than the Zacks Consensus Estimate of a loss of 22 cents. The company reported a loss of 36 cents in the year-ago quarter. This China-based electric vehicle maker posted revenues of $1.66 billion, which missed the Zacks Consensus Estimate of $1.71 billion but rose 20.85% year over year due to higher delivery volumes. NIO Inc. price-consensus-eps-surprise-chart | NIO Inc. Quote It delivered 42,094 vehicles in the first quarter, up 40.1% year over year, including 27,313 vehicles from NIO and 14,781 from ONVO. Revenues generated from vehicle sales amounted to $1.37 billion, up 18% year over year. The rise in sales was mainly attributable to an increase in delivery volume. Other sales of $288.8 million rose 36.5% on a year-over-year basis. Gross profit was $126.7 million, up 87.7% reported in the year-ago quarter. Vehicle margin in the reported quarter climbed to 10.2% from 9.2% in the first quarter of 2024, due to lower material cost per unit. Gross margin was 7.6%, up from 4.9% in the year-ago quarter. The rise was attributable to an increase in sales from parts, accessories and after-sales vehicle services. Research & development costs amounted to $438.4 million, which rose 10.5% year over year. Selling, general & administrative costs were $606.4 million, up 46% year over year. As of March 31, 2025, cash and cash equivalents totaled $3.6 billion and long-term debt amounted to $1.28 billion. For second-quarter 2025, NIO projects deliveries in the range of 72,000-75,000 vehicles, implying a rise of 25.5-30.7% year over year. Revenues are estimated between $2,689 million and $2,765 million. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) NIO currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Autoliv Inc. ALV reported first-quarter 2025 adjusted earnings of $2.15 per share, which beat the Zacks Consensus Estimate of $1.72 and rose 37% year over year. The company reported net sales of $2.58 billion in the quarter. The figure beat the Zacks Consensus Estimate of $2.47 billion but fell 1.4% year over year. Autoliv had cash and cash equivalents of $322 million as of March 31, 2025. Long-term debt totaled $1.57 billion. Operating cash flow in the quarter under review was $77 million and capital expenditure amounted to $93 million, resulting in a negative free cash flow of $16 million. In the quarter, ALV paid a dividend of 70 cents per share and repurchased 0.5 million shares. Mobileye Global Inc. MBLY reported first-quarter 2025 adjusted earnings per share of 8 cents. The figure was in line with the Zacks Consensus Estimate. The company reported a loss of 7 cents per share in the year-ago quarter. Total revenues amounted to $438 million, beating the Zacks Consensus Estimate of $434 million. The metric also rose 83% year over year. MBLY had cash and cash equivalents of $1.51 billion as of March 29, 2025, compared with $1.43 billion as of Dec. 28, 2024. Operating cash flow for the three months ended March 29, 2025, was $109 million. Capex was $14 million during the same time frame. Group 1 Automotive GPI reported first-quarter 2025 adjusted earnings per share of $10.17, which beat the Zacks Consensus Estimate of $9.68 and rose 7.17% year over year. The automotive retailer registered net sales of $5.51 billion, beating the Zacks Consensus Estimate of $5.34 billion. The top line also rose from the year-ago quarter's $4.47 billion. Group 1 had cash and cash equivalents of $70.5 million as of March 31, 2025, up from $34.4 million as of Dec. 31, 2024. Total debt was $2.8 billion as of March 31, 2025, down from $2.91 billion as of Dec. 31, 2024. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Autoliv, Inc. (ALV) : Free Stock Analysis Report Group 1 Automotive, Inc. (GPI) : Free Stock Analysis Report Mobileye Global Inc. (MBLY) : Free Stock Analysis Report NIO Inc. (NIO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Bloomberg
28 minutes ago
- Bloomberg
USDA to Review Reports Following Delay of Latest Trade Outlook
The US Department of Agriculture is undergoing a review of non-statutory reports including a quarterly forecast on trade that pointed to a record farming deficit. The agriculture report, which is released on a quarterly basis, was expected to be updated on May 29. It typically shows the USDA's estimates for exports and imports of several farm product categories as well as an analysis by the agency's economists. A version of the report showing a trade deficit but stripped from comments and analysis was released on June 2.


Geek Wire
31 minutes ago
- Geek Wire
‘We're definitely on the back foot': U.S. risks losing fusion energy race to China, industry leaders warn
Sustainability: News about the rapidly growing climate tech sector and other areas of innovation to protect our planet. SEE MORE Zap Energy's FuZE-Q fusion device. (Zap Photo) REDMOND, Wash. — The race to lead in artificial intelligence isn't the only event in which the U.S. and China are competing for dominance. The pursuit of fusion — the 'Holy Grail' of clean energy — is also pitting the superpowers against each other, and American tech leaders worry China could surge ahead. At a Technology Alliance conference on Tuesday, Washington state companies building commercial fusion technologies raised concerns about China's strategy to pour resources into fusion. 'The U.S. is not committed to fusion. China is, by orders of magnitude,' said Ben Levitt, the head of R&D for Zap Energy, speaking on a fusion panel at the Seattle Investor Summit+Showcase. While the U.S. government spent approximately $800 million a year on fusion efforts during the Biden administration, China is investing more than twice that annually, IEEE Spectrum and others report. The Trump administration has taken action supporting nuclear fission, which powers today's nuclear reactors, but has not shown the same interest in fusion. The sector has become increasingly reliant on venture capital to fund its progress. China is also focused on training fusion physicists and engineers, while President Trump is slashing funding for scientific research. Fusion is so highly sought after given its potential to provide nearly limitless, carbon-free power, which could be critical to meet growing energy demands from AI applications and the global push to decarbonize transportation, the electrical grid, heating and cooling, industrial applications and elsewhere. 'The U.S. started with a very good hand in fusion and has played it extremely poorly,' Levitt said. 'So, yeah, we're definitely on the back foot.' The conference panel also included Brian Riordan, co-founder and chief operating officer of Avalanche Energy, and Anthony Pancotti, co-founder and head of R&D for Helion Energy. Riordan argued that while China appears to be making strides in the race, what matters even more is who develops the most affordable technology. A fusion energy panel at the Technology Alliance's Seattle Investor Summit+Showcase, from left: Anthony Pancotti from Helion Energy, Brian Riordan from Avalanche Energy, Ben Levitt from Zap Energy and moderator Lisa Stiffler from GeekWire. (GeekWire Photo / Todd Bishop) Physicists for decades have pursued fusion energy. But replicating the reactions that power the Sun and stars is massively challenging and requires technologies that can generate super high pressure and temperatures of 100 million degrees Celsius, and sustain those conditions — plus efficiently capture the energy that fusion produces. In December 2022, the U.S. National Ignition Facility (NIF) at Lawrence Livermore National Laboratory hit a key milestone in fusion research, demonstrating that fusion reactions here on Earth could release more power than required to produce them. Images published in January revealed that China appears to be building a fusion research facility modeled on NIF — but even larger. Others suggest the site could be a giant Z-pinch machine — similar to the technology being pursued by Zap. Years ago, a Chinese website posted a graphic of a fusion device that bore a troubling resemblance to Helion's technology, the company has said. 'We have seen copycats in China already, and it is terrifying,' Pancotti said on Tuesday. 'They can mobilize people and money at a scale that is beyond even what venture capital can do in this country. And so I think there's real concern there, and there's real concern around supply chain, too.' Added Levitt: 'I wouldn't be surprised if every single one of our [fusion] concepts has a city designated to it in China.'