Business News
Latest business news and updates
Total: 749
Musk’s SpaceX–xAI Tie-Up Pushes His Net Worth Past the $800bn Mark — and Raises Strategic Stakes
Elon Musk’s SpaceX and xAI have merged in a deal that Forbes estimates added roughly $84 billion to his net worth, pushing him past the $800 billion threshold to a record level around $852 billion. The combined company is being valued privately at about $1.25 trillion, with Musk holding an estimated 43% stake, and is preparing for an eventual IPO and index inclusion that could unlock significant liquidity.
Grab to Distribute Chinese LiDAR Maker Hesai Across Southeast Asia — A Power Play for Mobility Hardware
Hesai has named Grab its exclusive distributor of lidar products across Southeast Asia, leveraging Grab’s platform to commercialise sensing hardware among fleets and logistics operators. The deal promises faster regional deployment but brings integration, regulatory and competitive challenges.
AI Demand Outruns Supply: AMD CEO Pushes Back After 17% Share Shock
AMD’s stock plunged about 17% in its worst one‑day drop since 2017 after investors reacted to what they saw as cautious guidance despite a Q4 beat. CEO Lisa Su pushed back, saying AI demand is accelerating faster than expected, that compute demand exceeds supply, and that the Helios server system should help drive a second‑half inflection.
WeChat Blocks Tencent’s Yuanbao Red‑Envelope Push, Underscoring Platform First Rule
WeChat has restricted direct opening of links from Tencent’s Yuanbao app, after the app’s New Year ‘red‑envelope’ campaign spread via high‑frequency share tasks and drew user complaints. The move exposed a strategic rift within Tencent between a product philosophy that defends user experience and a group push to drive rapid user acquisition through viral mechanics.
Jack Ma Reappears at Alibaba as New AI Shopping App Prepares a RMB3bn Lunar New Year Push
Jack Ma's recent visit to Alibaba's Qianwen team coincides with a planned RMB3 billion Lunar New Year promotional campaign for the AI-enabled shopping app. The effort aims to embed Qianwen in everyday holiday consumption by leveraging Alibaba's ecosystem, but it carries commercial and regulatory risks.
JD Pumps More Than ¥1.3bn into Frontline Pay as E‑commerce Faces Cost and Reputation Pressures
JD.com has allocated over ¥1.3 billion in subsidies for frontline employees, a move that supports delivery and warehouse staff amid weak consumer demand and reputational pressure. The measure protects service capacity and signals responsibility, but it also raises questions about margin impact and whether the boost will be temporary or structural.
China’s Tianyi Eyes A‑Share IPO to Fund Ambitious 120‑Sat SAR Constellation
Tianyi Space Technology has filed for IPO guidance in Hunan as it seeks capital to build a 120‑satellite SAR constellation. The company combines in‑house manufacturing, automated operations and end‑to‑end InSAR services, but faces high upfront costs and a customer base currently dominated by government and state enterprises.
Guidance Shock Sends AMD Sliding as US Stocks Open Mixed
US equity markets opened mixed as investor focus on corporate guidance produced sharp moves in individual stocks. AMD plunged after lowering its Q1 revenue outlook, while Super Micro surged on an earnings beat and Novo Nordisk fell after trimming guidance, highlighting a guidance-driven, sector‑specific market landscape.
PBOC Signals Targeted Credit Push for Tech, Consumption and SMEs While Urging Market-Based Cleanup of Local Debt
The People's Bank of China set a 2026 agenda of targeted credit support for strategic sectors — including technology, green projects, consumption and SMEs — while pressing ahead with market-based resolution of local government financing platform debt. The central bank signalled a calibrated approach that pairs sectoral credit expansion with ongoing risk containment and closer fiscal coordination.
Hong Kong Market Pauses as Tech Slips and Cyclicals Rally
Hong Kong's Hang Seng closed essentially flat while the Hang Seng Tech index slid nearly 1.8%, led by declines in semiconductor and internet stocks. Gains in coal and property stocks offset tech losses, signalling a rotation from growth to cyclical assets amid profit-taking and shifting sentiment. The split market reaction highlights investor sensitivity to global tech demand and domestic policy signals for property, suggesting continued volatility ahead.
JinkoSolar Denies Any Deal With Musk’s Team as Shares Spike on Space‑PV Rumours
JinkoSolar denied any cooperation or signed agreements with a team linked to Elon Musk after its shares jumped on rumours of visits by Musk’s delegates to Chinese PV firms. The company emphasised that space‑based photovoltaic technology is still in early exploration and has not contributed revenue, while its core business remains terrestrial solar.
From ‘TV King’ to Balance‑Sheet Crisis: Konka Warns of RMB125–156bn Annual Loss, Fuels Delisting Fears
Konka, a once‑dominant Chinese television maker, has warned of an RMB12.6–15.6 billion full‑year loss for 2025 driven by large fourth‑quarter impairment charges. The forecast has pushed the company toward negative net assets, raised delisting risks, and intensified governance probes following a recent state‑linked takeover.