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Opposition to President Donald Trump’s plan for a gas tax holiday to ease cost-of-living concerns is coming not just from his political foes, but also from the Republican-leaning trucking and construction sectors.Those industries rely heavily on the road and transportation infrastructure projects funded by the federal gas and diesel taxes.”A gas tax holiday is a good way to blow a hole in the collection of revenue for funding highway and transit repairs, but it’s a bad way to help drivers who are affected by higher gas prices,” said Brian Turmail, national spokesman for the Associated General Contractors of America, a…
Eric Haan, director of the Stellantis Poissy plant, poses for a portrait next to cars at the Stellantis multinational car manufacturer’s plant in Poissy, west of Paris, on April 15, 2026.Simon Wohlfahrt | Afp | Getty ImagesLONDON — A recent tie-up between Jeep maker Stellantis and China’s Leapmotor is seen as a watershed moment for the future of European carmaking.In a deal announced late last week, Stellantis said it will expand its strategic partnership with Leapmotor, paving the way for the latter to start production of a model for sale in the European market in 2028.Leapmotor will also work with…
Jaap Arriens | Nurphoto | Getty ImagesAlibaba on Wednesday said its core profitability plunged in the March quarter amid heavy investments in tech and e-commerce.The Chinese tech giant said its adjusted earnings before interest, taxes, and amortization, a measure of the company’s underlying profitability, came in at 5.1 billion Chinese yuan ($750.9 million). This financial metric strips out one-time gains or losses to focus on a company’s core business.Alibaba’s U.S.-listed shares were initially higher in premarket trade before turning negative. They were last seen trading down 3.4%.This is breaking news. Please refresh for updates.Choose CNBC as your preferred source on…
Volkswagen controlling families demand overhaul after dent to profit Source link
Chinese tech giant Tencent on Wednesday reported revenues rose 9% in its first-quarter 2026 earnings, but missed analyst expectations. Here’s how Tencent did in its first-quarter earnings for 2026, compared to LSEG analyst forecast data:Revenue: 196.5 billion Chinese yuan ($28.9 billion), compared to estimates of 199 billion Chinese yuan.Domestic games revenues: 45.4 billion Chinese yuan, up 6% year-on-year, but a slowdown compared to the 24% rise the segment saw in the first quarter of 2025.”We started 2026 by making significant initial progress on our new AI products, as well as continuing to utilise AI to grow our existing core businesses,” Ma…
The health secretary comes from a tough background and threw himself into Labour politics at an early age. Source link
Chinese equities should have moderate upside over the next 12 months on improved earnings, more dominance in upstream supply chains globally and yuan strength against the dollar, Morgan Stanley says. The investment bank set new price targets for 2Q 2027 at 28,400 for Hang Seng, 91 for MSCI China, 9,900 for HSCEI and 5,400 for the CSI-300, which implies upsides of 8%, 12%, 11% and 11%, respectively. “The sheer size of opportunities in China’s equity market at the single stock and thematic level – fueled by solid fundamentals and promising themes… should allow investors to construct a targeted Chinese portfolio…
Nissan posts narrow profit for full business year Source link
The King will set out the government’s agenda in Parliament, but the political plotting continues. Source link
JPMorgan CEO Jamie Dimon attends an interview with Reuters in Detroit, Michigan, U.S., Nov. 5, 2025. Emily Elconin | ReutersJP Morgan may reconsider a planned multibillion-dollar office tower in London if U.K. Prime Minister Keir Starmer is ousted, the bank’s CEO Jamie Dimon said on Wednesday. Speaking to Bloomberg in Paris, the head of America’s biggest bank said that while a change in leadership would not change JP Morgan’s fundamental strategy, it could force the lender to rethink its future in the U.K. capital. JP Morgan announced late last year that it would build a new three-million square foot tower…