Category Archives: business
Peter Navarro was appointed by President-elect Donald Trump as the new head of the White House National Trade Council, causing alarm among Chinese state media. Pete Navarro is a well established economist who is very vocal about imposing strict policies against China.
Navarro is the author of “Death by China: How America Lost its Manufacturing Base”. This was later made into a documentary, unravelling the Beijing’mission to become the biggest military and economic leader in Asia.
The Chinese Ministry of Commerce emphasized that China and U.S. currently have a mutually beneficial trade relationship. They also warned the new Washington administration against any undoing, which might harm their ties.
The company Hon Hai Precision Industry, better known as Foxconn Technology Group, is exploring the possibility of assembly iPhone transfer to the United States, according to the Japanese publication Nikkei Asian Review, citing sources.
According to sources, Apple has asked Foxconn publications and Pegatron consider iPhone assembly transport in the United States instead of China. Foxconn has agreed, Pegatron declined because of concern about the cost.
The growth rate of China’s GDP amounted to 6.7% in the third quarter of this year. This is according to the report of the State Statistical control of the country. According to experts’ forecasts the Chinese economy grew at an annual rate to the same index as in the two previous quarters.
According to the official representative of Gosstatupravleniya Layyunya Sheng, the Chinese economy “continues to grow steadily.”
German carmaker Volkswagen was fined by antimonopoly agency of Italy for incorrect commercial policy.
As specified in the material, the amount of the fine imposed was five million euros.
Apple has reported a second consecutive quarter of falling iPhone sales, but the 15% drop was not as bad as analysts had feared. The US tech giant sold 40.4 million iPhones in its third quarter, slightly above forecasts of 40.02 million.
Apple chief executive Tim Cook said the results reflected “stronger customer demand… than we anticipated”. The firm said it expected sales to fall again in the fourth quarter to between $45.5bn (£34bn; €41.4bn) and $47.5bn.
BMW, Intel and computer vision firm Mobileye have signed a deal to develop autonomous vehicles.
The three firms will collaborate on the systems needed to make cars that can navigate without any help from a human driver. The vehicles will be capable of driving safely along major roads as well as in suburban and inner city areas.
BMW said it hoped the collaboration would mean it could put robot cars into production by 2021. The research partnership was announced on the day when US officials begin an investigation into a fatal car crash involving a Tesla Model S, to which self-driving technology could have contributed.
One third of WPP investors have failed to back Sir Martin Sorrell’s £70m pay deal at the advertising firm’s annual general meeting.
Excluding abstentions, 33.5% of investors failed to back the pay deal, but the vote was non-binding. The chief executive’s 2015 pay package is one of the biggest in UK corporate history.
Sir Martin has previously said his pay was based on the performance of WPP, the world’s largest advertising group.