Shares of Chinese electric vehicle maker BYD dropped by as much as 8% on Monday. The fall came after the company revealed weaker earnings, squeezed by an escalating battle over prices in the auto market. Quarterly results disappoint investors On Friday, BYD reported net profit of 6.4bn yuan ($900m; £660m) for April to June. That was 30% lower than the same period last year. The company admitted that aggressive discounting among EV brands had weighed heavily on the sector. Rivals intensify the fight The Shenzhen-based manufacturer faces mounting competition from Nio, XPeng, and Tesla. All have slashed prices to attract…
Author: Grace Johnson
Grace Johnson
Grace Johnson is a freelance journalist based in Beijing with over 15 years of experience reporting on Politics, World Affairs, Business, Health, Technology, Finance, Lifestyle, and Culture. She earned her degree in Communication and Journalism from the University of Miami. Throughout her career, she has contributed to major outlets including The Miami Herald, CNN, and USA Today. Known for her clear and engaging reporting, Grace delivers accurate and timely news that keeps readers informed on both national and global developments.
An Australian court has fined airline giant Qantas 90 million Australian dollars for unlawful sackings during the Covid-19 crisis. The company had dismissed more than 1,800 ground staff in 2020. Australia’s Transport Workers’ Union welcomed the decision. It called the fine the largest in history for breaches of industrial relations law. Court delivers a clear warning Federal Court Justice Michael Lee said the penalty must serve as real deterrence. He stressed that employers must know such conduct has consequences. Qantas accepted the ruling and announced it will pay the fine. The company admitted it caused harm to its workers. “We…
A US senator has launched a probe into Meta. A leaked internal document reportedly showed that the company’s artificial intelligence allowed “sensual” and “romantic” conversations with children. Confidential standards revealed Reuters reported the document was titled “GenAI: Content Risk Standards.” Senator Josh Hawley, a Republican, described its contents as “reprehensible and outrageous.” He demanded access to the entire paper and a list of the affected products. Meta denied the claims. A spokesperson said: “The examples and notes in question were erroneous and inconsistent with our policies.” They stressed Meta had “clear rules” for chatbot responses. These rules “prohibit content that…
