Huawei's joint EV brand with Chery pledges $1.4 billion new investment
It did not give a timeline for the move, which it said aims to strengthen the brand's lead in technology terms, according to a WeChat post.
A new company was also created to integrate production, sales and services.
($1 = 7.1774 Chinese yuan renminbi)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
MSCI announces changes to equity indexes
NEW YORK (Reuters) -MSCI said on Thursday it will add 42 securities and delete 56 from its widely followed ACWI equity index. The three largest companies by market cap to be added to the developed markets index are Rocket Lab Corp, Sofi Technologies and Affirm Holdings, all headquartered in the United States. The three largest companies to be added to the emerging markets index are China Citic Bank, Dian Swastatika Sentosaand Laopu Gold. All changes will be made as of the close of August 26, MSCI said. Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
Yahoo
25 minutes ago
- Yahoo
Major 401(k) changes: What to know about Trump's new crypto and private equity rules
President Donald Trump signed an executive order Thursday that will let Americans invest their 401(k) retirement savings in cryptocurrency, private equity and real estate, marking a major shift in retirement investment options. The order directed the Securities and Exchange Commission (SEC), Labor Department and Treasury to update their rules to give investors access to these alternative assets. While this move could give alternative asset managers access to a huge new pool of retirement money, some experts worried it might put Americans' retirement savings at risk. "It's going to be slow going," Ted Rossman, senior industry analyst at Bankrate, told ABC News. "A lot of providers are reluctant to be early adopters here. They're worried about potential costs and maybe lawsuits or other consequences." MORE: Michigan manufacturer warns Trump tariffs threaten small business survival Rossman explained that while some private investments were allowed in retirement accounts back in 2020, they still aren't widely available. "If you want to have a small part of your portfolio in crypto, that could make sense," he told ABC News. "Generally speaking, index funds are the best way to go for the average person. Just kind of keep it simple, match the market over time, get low fees." Vanguard, one of the largest retirement plan providers, told ABC News, private assets could offer broader diversification and potentially higher returns for investors with the right risk tolerance and long-term outlook. However, the company emphasized the importance of "educating retirement investors to ensure a clear understanding of the opportunities and risks of investing in private assets." The cryptocurrency announcement came on the same day Trump unveiled sweeping new trade tariffs affecting more than 90 trading partners. These tariffs ranged from 15% to 41%, with most imported goods getting hit with at least a 10% tax. The president also threatened additional tariffs on specific products like pharmaceuticals, lumber and semiconductors. So far, retailers have managed to avoid passing these extra costs to shoppers by absorbing most of the tariff increases themselves, Rossman explained. However, the National Retail Federation warned this strategy might force stores to cut back on employee investments and growth plans if it continues, he added. The combined impact of these policy changes left both the investment and retail sectors adjusting to a new economic landscape, with more changes possibly on the horizon, according to Rossman. 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
Yahoo
25 minutes ago
- Yahoo
Sun Life's second-quarter profit rises on growth in Asia, wealth management unit
(Reuters) -Canada's Sun Life Financial reported a jump in second-quarter profit on Thursday, driven by strong growth in its Asia unit and solid performance in its wealth management division. The country's second-largest life insurer posted net income of C$716 million ($520.88 million), or C$1.26 per share, for the three months ending June 30, compared to C$646 million, or C$1.11 per share, a year earlier. ($1 = 1.3746 Canadian dollars)
