Latest news with #automakers
Yahoo
8 hours ago
- Business
- Yahoo
Europeans Are Talking About These Major Current Events That Are Barely Making Headlines In The US, And It's Illuminating To Step Outside Our US Bubble For A Sec
With so much domestic news flooding our feeds daily, it's easy to lose sight of the important events unfolding beyond the US borders. To help broaden our perspective, I've been compiling roundups of key European (and global) stories that locals felt Americans were overlooking. Given the positive response, I'm back with yet another follow-up — once again curating the top headlines myself and adding context on why they're significant. So, without further ado, here's a snapshot of some of the most impactful stories currently shaping Europe: of Chinese electric vehicle maker BYD fell 8.6% on Monday after the company announced major price cuts on 22 electric and hybrid models. The discounts — ranging from 10% to 34% — sparked fears of a renewed price war in China's crowded EV market. The stock slipped another 4% in Hong Kong on Tuesday. Despite the pullback, BYD shares remain up over 50% this year. Meanwhile, the company outsold Tesla in Europe for the first time last month. Why it matters: BYD's fast-growing global presence and undercutting of Tesla — particularly in Europe — highlight rising competition in the EV sector. While BYD doesn't sell cars in the US, its dominance abroad is reshaping the global market, pressuring American automakers to innovate faster and lower costs. Its investment in AI driving systems and vertical integration (including battery manufacturing) could also set new industry benchmarks. Source: BYD stock plunges following deep price cuts as EV sales surpass Tesla in Europe [Euronews] lower house of parliament has passed a bill to legalize assisted dying for adults with incurable illnesses — a landmark move that would allow people to take lethal medication under strict conditions. The vote (305 in favor, 199 against) sends the bill to the Senate, though a final decision could take months amid France's complex legislative process. The law would permit those suffering from untreatable pain to end their lives voluntarily, with oversight from medical professionals. Patients must be over 18, either citizens or residents of France, and deemed to be making the request of their own free will. While widely supported by the public, the bill has drawn criticism from religious leaders and end-of-life activists alike — the former warning of moral risks, the latter frustrated by delays. Why it matters: France's step toward legalizing assisted dying signals a profound cultural and ethical shift in one of Europe's most influential democracies. Though polls show widespread public backing, the proposal reopens long-standing tensions around bodily autonomy, the role of the state in life-and-death decisions, and how societies treat the terminally ill. The measure is framed as both a compassionate option and a safeguard-filled process, yet it has sparked fears — especially among religious communities — that the vulnerable could feel coerced. With other European nations already permitting assisted dying, France's decision will likely influence regional debates and heighten pressure on holdout countries like the UK. President Macron's openness to a referendum if Parliament stalls shows just how politically and emotionally charged the issue remains. Source: France's National Assembly adopts bill to legalise assisted dying on first reading [Euronews] Police in Liverpool swiftly released details about the suspect arrested after a car plowed into a crowd during a Premier League winners parade. The man was identified as a 53-year-old white British local. This early disclosure was unusual given UK legal restrictions on naming suspects but was intended to counter rampant misinformation and conspiracy theories spreading online, particularly after last year's Southport attack, where false claims about the suspect's identity fueled unrest. Experts praised the police for proactively filling information gaps to prevent harmful rumors and online disinformation from escalating into real-world violence. While such transparency is not always possible, this case highlights the importance of timely communication in today's fast-moving digital information environment. Why it matters: The police's decision to release suspect details quickly reflects a growing challenge for law enforcement navigating the complex interplay between transparency, public safety, and the rapid spread of misinformation on social media. In a digital age where rumors can quickly spark unrest, timely communication aims to undercut conspiracy theories before they take hold. This case underscores broader questions about balancing legal protections, privacy, and the need to maintain social trust in moments of crisis — issues that resonate across democratic societies confronting the impact of online disinformation. Source: Experts praise police for swift release of details about Liverpool crash suspect [Euronews] Chancellor Friedrich Merz issued unusually strong criticism of Israel's military offensive in the Gaza Strip, questioning the justification for the harm inflicted on civilians amid the fight against Hamas terrorism. Merz acknowledged Germany's historic commitment to Israel's security, but emphasized that crossing certain humanitarian boundaries must be addressed publicly. His remarks signal a possible shift in Germany's traditionally cautious stance toward Israel, especially as humanitarian groups warn of starvation in Gaza due to an ongoing aid blockade. Merz plans to discuss the offensive with Israeli Prime Minister Benjamin Netanyahu, underscoring Germany's desire to remain an ally while expressing limits to what can be tolerated. Meanwhile, voices within Germany's governing coalition are calling to halt weapons exports to Israel and rethink the country's "reason of state" on Israel's security. Why it matters: Merz's criticism marks a rare public departure from Germany's historically unwavering support for Israel, reflecting growing unease about the humanitarian impact of the Gaza offensive and Germany's role in the conflict. The shift highlights a broader debate within Germany about balancing moral obligations stemming from its Nazi past with contemporary human rights concerns and international law. As other Western allies — including the UK, France, and Canada — express similar worries, Germany's evolving position signals changing dynamics in European support for Israel amid one of the region's most contentious conflicts. This debate also underscores how historical legacies shape diplomatic responses differently, influencing how democracies navigate the tension between defending allies and upholding international humanitarian standards. Source: Germany's Merz blasts Israeli offensive in Gaza [Politico] Related: "I Am So Torn With What You Are Doing" — 11 Posts From MAGA Business Owners Who Are So Close To Getting It Charles III gave a rare royal speech from Canada's Parliament, stressing Canadian sovereignty during "dangerous and uncertain" times. While only briefly mentioning US President Donald Trump, whose trade war and border pressures loom large, Charles underscored cooperation and mutual respect between the two countries. He highlighted Canada's plans to strengthen its armed forces, enhance border security to combat fentanyl trafficking, balance immigration, and address domestic issues like housing and energy projects. The speech also reaffirmed commitments to Indigenous reconciliation. Royal historian Justin Vovk noted the speech balanced diplomatic tone with a firm assertion of Canada's independent identity on the global stage. Why it matters: This speech signals Canada's determination to protect its sovereignty amid rising US trade tensions without escalating conflict. Charles's endorsement of Canada's government policies sends a powerful message that Canada will assert its national interests while maintaining important alliances. The address marks a rare direct intervention by a British monarch in Canadian parliamentary proceedings, highlighting the ongoing evolution of Canada's identity as a sovereign nation navigating complex geopolitical challenges. It also sets a tone of cautious cooperation with the US despite strained relations under Trump's administration. Source: Key takeaways from King Charles's 'Speech from the Throne' in Canada [Al Jazeera] ministers convened in Brussels for a hearing on Hungary's rule of law under Article 7 of the EU treaty, amid mounting concerns over recent legislative moves by Viktor Orbán's government. Hungary's draft "Transparency of Public Life" law — which critics say grants sweeping powers to limit press freedom and civil society — and the ban on the Budapest Pride march — which allows fines and AI-based identification of participants — have drawn strong rebuke from 20 member states. These countries issued a joint declaration condemning the ban as a violation of EU fundamental values and calling for its reversal, warning that failure to comply could trigger full use of the EU's rule of law enforcement mechanisms. Hungary's EU minister dismissed the criticism as political hysteria. After seven years of ongoing discussions, EU ministers signaled growing frustrations and potential escalatory measures, but sanctions are unlikely without majority support. Why it matters: The dispute over Hungary's rule of law and LGBTQ+ rights highlights a deeper tension within the EU about balancing national sovereignty with shared democratic principles. As Hungary pushes legislation seen as curbing freedoms and targeting marginalized communities, the EU faces a test of its ability to enforce fundamental values without fracturing its unity. This ongoing standoff reflects wider challenges democracies confront when political leaders adopt increasingly authoritarian measures under the guise of legal reforms, raising urgent questions about the future cohesion and identity of the European project. Source: EU countries 'losing patience' as Hungary grilled on Pride march and rule of law [Euronews] than 800 UK lawyers, judges, and academics have called on Prime Minister Keir Starmer to impose sanctions on Israel over its actions in Gaza, accusing Israel of serious violations of international law, including war crimes and a risk of genocide. The open letter demands urgent British action to secure an immediate, unconditional ceasefire and unimpeded humanitarian aid to Palestinians. It also urges the UK to enforce International Criminal Court arrest warrants against Israeli leaders and reconsider trade ties with Israel. Signatories warn that Israel's ongoing breaches threaten the future of international law and risk unleashing global anarchy. With Gaza's death toll surpassing 54,000, the letter frames the UK's response as critical to upholding the rule of law and preventing further destruction. Why it matters: This unprecedented call from the UK's legal community highlights growing international pressure on Western governments to hold Israel accountable amid escalating violence in Gaza. It underscores the tension between diplomatic alliances and legal, moral responsibilities to prevent war crimes and protect civilians. How the UK responds could influence global efforts to uphold international law and shape future sanctions or interventions. The letter also signals a broader concern about the erosion of international legal norms, warning that ignoring such breaches risks destabilizing global order and enabling impunity for state actions worldwide. Source: More than 800 lawyers, judges call for UK sanctions on Israel over Gaza war [Al Jazeera] Related: 18 Major Global Events That American Media Is Ignoring Right Now, And Why They Actually Matter To Us new Chancellor Friedrich Merz announced that Western allies, including Germany, the US, the UK, and France, have lifted range restrictions on weapons supplied to Ukraine. This means Kyiv can now target Russian military positions deep inside Russian territory using long-range missiles, such as the US-made ATACMS and UK's Storm Shadow. Germany had previously resisted sending long-range cruise missiles like the Taurus, but Merz's statement signals a more hawkish stance. Russia condemned the move, warning it undermines peace talks and risks escalating the conflict. The announcement comes amid intensified Russian attacks and ongoing challenges to negotiate a ceasefire. Why it matters: Removing range restrictions on weapons supplied to Ukraine signals a significant escalation in Western support and a tougher stance against Russian aggression. What was once a cautious approach has shifted toward empowering Kyiv to target military positions deep inside Russia — an option previously off-limits due to fears of widening the conflict. This change heightens tensions and complicates prospects for a ceasefire, as Russia views it as a direct threat to its security and sovereignty. The move reflects broader challenges democracies face in balancing military aid with diplomatic efforts, testing how far they are willing to go to uphold international order without triggering wider confrontation. Ultimately, this decision shapes the trajectory of a conflict with profound regional and global consequences. Source: US, Europe lift 'range restrictions' on Ukraine missiles: Why it matters [Al Jazeera] European Commission has launched formal investigations into four major adult websites — Pornhub, Stripchat, XNXX, and XVideos — over suspected breaches of the EU's Digital Safety Act (DSA). The probe focuses on whether these platforms have failed to implement effective age verification measures and risk assessments to protect minors from accessing explicit content. While Stripchat has been removed from the list due to insufficient user numbers, the others remain under scrutiny for lacking adequate safeguards. The commission aims to ensure the online environment is safer for children and is developing an age-verification app to support this effort. Why it matters: This investigation highlights growing efforts across the EU to hold online platforms accountable for protecting young users from harmful content. With children spending increasing time online, establishing robust safeguards against early exposure to adult material is seen as critical for their mental and physical well-being. The DSA's enforcement represents a broader push toward greater digital responsibility and regulation, setting new standards for how platforms must balance accessibility with safety. These developments reflect global challenges in regulating internet content and safeguarding vulnerable populations in an era of rapid technological change. Source: European Union investigates four major porn sites under bloc's digital rules on child protection [AP News] former president Ilir Meta has been formally charged with corruption, money laundering, tax evasion, and concealing assets. The charges come from SPAK, a special anti-corruption body backed by the EU and US. Meta, who was arrested last October, denies wrongdoing and claims the case is politically motivated, calling SPAK a tool of Prime Minister Edi Rama. Meta's ex-wife, a former party leader, and two others also face charges. If convicted, Meta could face up to 12 years in prison. Once one of the country's most powerful politicians, Meta is accused of abusing his position for personal gain and failing to disclose hundreds of thousands in US lobbying expenses. Why it matters: Meta's indictment marks a high-profile test of Albania's fragile rule-of-law reforms as it seeks EU membership. Corruption has long undermined trust in Albanian institutions, but SPAK's pursuit of elite figures — now including two former presidents — signals a shift. For a country trying to shed its post-communist legacy, the willingness to prosecute a political heavyweight like Meta could redefine the boundaries of accountability and transparency in the Balkans. Source: Albanian ex-President Ilir Meta charged with corruption and money laundering [AP News] Georgescu, a far-right Romanian populist who shocked the country by leading the first round of last year's presidential election, has announced he's withdrawing from political life. Though he didn't win the presidency — and was ultimately barred from the election's rerun after allegations of campaign violations and Russian interference — his rise unsettled Romania's political establishment. Georgescu, who praised fascist-era leaders and questioned Ukraine's legitimacy, remains under criminal investigation for incitement and ties to fascist ideologies. Once backed by prominent nationalist figures including Elon Musk and US Vice President JD Vance, he now says the "sovereignist movement has come to a close." Why it matters: Georgescu's rise and fall highlight the vulnerabilities facing even NATO and EU democracies amid viral populism and foreign interference. His campaign — driven by online fervor, zero disclosed spending, and messaging sympathetic to Putin — gained traction in a country once viewed as firmly pro-Western. That American leaders backed him despite his extremist ties and alleged Russian support reveals deepening ideological fractures within democratic alliances. At stake is not just Romania's political future, but a broader reckoning with how democracies confront populist disruption and election meddling. Source: Far-right candidate Calin Georgescu, who upended Romanian presidential race, withdraws from politics [AP News] Dutch lawmaker Geert Wilders, long known for his anti-Islam and anti-migration rhetoric, has unveiled a sweeping 10-point plan to drastically reduce immigration in the Netherlands. His proposals include deploying the military to secure borders, blocking all asylum claims, halting family reunifications for refugees, and deporting migrants convicted of certain crimes. Wilders' Party for Freedom won the largest share of seats in the 2023 Dutch election, but has struggled to push through its hardline agenda as part of a fragile four-party coalition. Now, Wilders is threatening to pull his party from the Cabinet if tougher migration controls aren't adopted. Why it matters: The Netherlands — known for its liberal values and internationalism — is now governed by a coalition that includes a far-right party with explicit goals to roll back asylum protections and exit parts of European law. Wilders' ultimatum underscores a broader shift in European politics, where far-right parties are moving from the fringes to the center of power. As the EU contends with increasing migration pressures and rising populism, the Dutch case could become a bellwether for how mainstream institutions either resist or absorb nationalist demands — reshaping the continent's political landscape in the process. Source: Anti-Islam lawmaker Geert Wilders unveils a 10-point plan to slash migration in the Netherlands [AP News] Olmert, Israel's former prime minister and a longtime figure in the country's political establishment, has accused the Israeli government of committing war crimes in Gaza. In a striking op-ed, Olmert denounced the ongoing military campaign as "a war without purpose" and described its toll on civilians as "monstrous." While once a defender of Israel's wartime conduct, Olmert now says the scale and intent of recent operations — marked by indiscriminate killing and a lack of clear objectives — cross a moral and legal line. His comments, echoed by a former army deputy chief, have drawn fierce backlash from the current government, including accusations of treason. Why it matters: Public criticism of Israel's Gaza offensive from within its own top leadership ranks — especially a former prime minister from the ruling party — marks a rare and consequential rupture. As international scrutiny of the war grows, Olmert's shift from staunch defender to vocal dissenter could lend weight to legal and diplomatic efforts to hold Israel accountable. His comments also expose a deepening rift in Israeli society over the war's purpose and conduct, complicating both the government's narrative and its legitimacy on the global stage. Source: Former Israeli PM Ehud Olmert says his country is committing war crimes [The Guardian] major mafia syndicates — including the Sicilian Cosa Nostra, Naples' Camorra, and Calabria's 'Ndrangheta — are increasingly setting aside turf wars to collaborate on drug trafficking, prostitution, money laundering, and infiltration of public works projects, according to the country's annual anti-mafia report. These once-feuding groups are leveraging encrypted technologies and global financial networks, such as Chinese underground banking systems, to coordinate operations and avoid detection. Authorities also warn that mafia organizations are exploiting Italy's EU-funded Recovery Fund projects, the planned bridge linking Sicily to the mainland, and preparations for the 2026 Winter Olympics. Why it matters: This quiet but strategic shift among Italy's most powerful criminal networks reflects how organized crime is adapting to globalization and the digital age. By prioritizing collaboration over conflict, these groups are embedding themselves deeper into both licit and illicit economies, from major construction projects to international finance. The implications go beyond Italy: it's a warning about how transnational criminal syndicates can evolve to undermine democratic infrastructure under the radar, often beyond the scope of conventional law enforcement. Source: Italy's mafia abandoning rivalries to join forces, report says [Reuters] President Emmanuel Macron has denied reports of a domestic dispute after a viral video showed his wife, Brigitte Macron, appearing to push him as they disembarked a plane in Vietnam. The brief clip, captured by a press photographer, sparked widespread speculation, fueled further by Russian state media and French far-right accounts framing the moment as evidence of tension. Macron dismissed the incident as playful banter between the couple, emphasizing that such moments of joking are common for them. The episode reflects how easily lighthearted interactions can be weaponized amid broader geopolitical and domestic tensions, especially with Russia's ongoing efforts to sow discord in Western democracies. Why it matters: This episode shows how easily simple, everyday moments involving public leaders can be turned into political drama or propaganda. When a brief, playful interaction between Macron and his wife is spun into a story of conflict, it reveals how foreign media and political groups exploit such clips to push their own agendas. This matters because it can distract from real issues and feed distrust in leaders at a time when clear communication is essential. It also reflects the broader challenge of navigating misinformation and the impact it has on how people see their governments and public figures. Source: Emmanuel Macron says video of wife pushing him shows them 'joking around' [The Guardian] Were any of these stories new to you? Share your reactions and thoughts in the comments below. And while you're at it, let me know what regions or topics should we explore next! Also in In the News: An Ad Against Far-Right Voters Is Going Viral For Being Both Terrifying And (Kinda) Accurate Also in In the News: Miss USA's 2024 "National Costume" Has Been Revealed, And It's Obviously An Interesting Choice Also in In the News: One Body Language Expert Spotted Something Very Telling When Donald Trump "Held His Own Hand" At His Recent Press Conference
Bloomberg
11 hours ago
- Automotive
- Bloomberg
China Auto Body Slams ‘Vicious Competition' After BYD Price Cuts
China's automobile industry association warned against 'vicious competition,' days after BYD Co. 's price cuts fueled market concerns of a discount war that would further weigh on profits of electric carmakers. After an automaker slashed prices on May 23, many others followed suit, 'triggering a new round of 'price war' panic,' the China Association of Automobile Manufacturers said in a statement on its website Saturday, without naming any company.
Malay Mail
11 hours ago
- Automotive
- Malay Mail
Industry group warns Chinese carmakers against aggressive ‘price war' after discount spree, citing market stability concerns
BEIJING, May 31 — A top industry group had a stern rebuke today for automakers fuelling a 'price war', a week after Chinese EV giant BYD announced sweeping trade-in discounts, with multiple competitors following suit. 'Since May 23, a certain automaker has taken the lead in launching a substantial price drop campaign... triggering a new round of 'price war' panic,' the China Association of Automobile Manufacturers (CAAM) said in a statement posted to its WeChat account. The group warned that such 'disorderly' competition would 'exacerbate harmful rivalry' and hurt profit. The statement, dated May 30, did not single out any company by name, but on May 23, BYD announced it was offering big trade-in discounts on nearly two dozen makes, offering discounts of up to 34 per cent. Its cheapest model, the smart-driving Seagull, now goes for a starting price of 55,800 yuan (RM33,200), down from 69,800 yuan, with a trade-in. Days later, Stellantis-backed Chinese EV startup Leapmotor announced similar discounts on two 'entry-level' models through June 8. Geely Auto announced Friday limited-time trade-in subsidies for 10 models, with its X3 Pro going for the lowest starting price of 44,900 yuan. But there is growing domestic criticism against what the autos association called 'involution'—a popular tag used to describe the race to outcompete that ends up nowhere. The CEO of China's Great Wall Motor, whose annual revenue was roughly a quarter of BYD's, compared it to the start of China's years-long housing slump triggered by the 2021 default of property giant Evergrande. 'Evergrande in the auto industry already exists,' Wei Jianjun said this month in an interview with Chinese outlet Sina Finance. 'I hope that... all these years of hard work will not go to waste.' Beijing has poured vast state funds into the electric vehicle sector, supporting the development and production of less polluting battery-powered vehicles. But China's automakers association today warned its goliaths to play fair. 'Leading companies must not monopolise the market,' the CAAM statement said. It added that 'with the exception of lawful discounting, companies must not sell products below cost nor engage in misleading advertising'. Such behaviour disrupted the market and harmed both consumer and the industry, it said. An unnamed official from China's Ministry of Industry and Information Technology added that price wars 'produce no winners and no future', the state-backed Global Times reported today. — AFP
Al Arabiya
13 hours ago
- Automotive
- Al Arabiya
Chinese automakers get stern ‘price war' warning after discount spree
A top industry group had a stern rebuke Saturday for automakers fueling a 'price war', a week after Chinese EV giant BYD announced sweeping trade-in discounts, with multiple competitors following suit. 'Since May 23, a certain automaker has taken the lead in launching a substantial price drop campaign... triggering a new round of 'price war' panic,' the China Association of Automobile Manufacturers (CAAM) said in a statement posted to its WeChat account. The group warned that such 'disorderly' competition would 'exacerbate harmful rivalry' and hurt profit. The statement, dated May 30, did not single out any company by name, but on May 23, BYD announced it was offering big trade-in discounts on nearly two dozen makes, offering discounts of up to 34 percent. Its cheapest model, the smart-driving Seagull, now goes for a starting price of 55,800 yuan ($7,800), down from 69,800 yuan, with a trade-in. Days later, Stellantis-backed Chinese EV startup Leapmotor announced similar discounts on two 'entry-level' models through June 8. Geely Auto announced Friday limited-time trade-in subsidies for 10 models, with its X3 Pro going for the lowest starting price of 44,900 yuan. But there is growing domestic criticism against what the autos association called 'involution' -- a popular tag used to describe the race to outcompete that ends up nowhere. The CEO of China's Great Wall Motor, whose annual revenue was roughly a quarter of BYD's, compared it to the start of China's years-long housing slump triggered by the 2021 default of property giant Evergrande. 'Evergrande in the auto industry already exists,' Wei Jianjun said this month in an interview with Chinese outlet Sina Finance. 'I hope that... all these years of hard work will not go to waste.' Beijing has poured vast state funds into the electric vehicle sector, supporting the development and production of less polluting battery-powered vehicles. But China's automakers association on Saturday warned its goliaths to play fair. 'Leading companies must not monopolize the market,' the CAAM statement said. It added that 'with the exception of lawful discounting, companies must not sell products below cost nor engage in misleading advertising'. Such behavior disrupted the market and harmed both consumer and the industry, it said. An unnamed official from China's Ministry of Industry and Information Technology added that price wars 'produce no winners and no future,' the state-backed Global Times reported Saturday.
Yahoo
13 hours ago
- Automotive
- Yahoo
Chinese automakers get stern 'price war' warning after discount spree
A top industry group had a stern rebuke Saturday for automakers fuelling a "price war", a week after Chinese EV giant BYD announced sweeping trade-in discounts, with multiple competitors following suit. "Since May 23, a certain automaker has taken the lead in launching a substantial price drop campaign... triggering a new round of 'price war' panic," the China Association of Automobile Manufacturers (CAAM) said in a statement posted to its WeChat account. The group warned that such "disorderly" competition would "exacerbate harmful rivalry" and hurt profit. The statement, dated May 30, did not single out any company by name, but on May 23, BYD announced it was offering big trade-in discounts on nearly two dozen makes, offering discounts of up to 34 percent. Its cheapest model, the smart-driving Seagull, now goes for a starting price of 55,800 yuan ($7,800), down from 69,800 yuan, with a trade-in. Days later, Stellantis-backed Chinese EV startup Leapmotor announced similar discounts on two "entry-level" models through June 8. Geely Auto announced Friday limited-time trade-in subsidies for 10 models, with its X3 Pro going for the lowest starting price of 44,900 yuan. But there is growing domestic criticism against what the autos association called "involution" -- a popular tag used to describe the race to outcompete that ends up nowhere. The CEO of China's Great Wall Motor, whose annual revenue was roughly a quarter of BYD's, compared it to the start of China's years-long housing slump triggered by the 2021 default of property giant Evergrande. "Evergrande in the auto industry already exists," Wei Jianjun said this month in an interview with Chinese outlet Sina Finance. "I hope that... all these years of hard work will not go to waste." Beijing has poured vast state funds into the electric vehicle sector, supporting the development and production of less polluting battery-powered vehicles. But China's automakers association on Saturday warned its goliaths to play fair. "Leading companies must not monopolise the market," the CAAM statement said. It added that "with the exception of lawful discounting, companies must not sell products below cost nor engage in misleading advertising". Such behaviour disrupted the market and harmed both consumer and the industry, it said. An unnamed official from China's Ministry of Industry and Information Technology added that price wars "produce no winners and no future", the state-backed Global Times reported Saturday. mya/fopx
