China’s lurch towards one-man rule has made it more important than ever for investors to align their portfolios with the priorities of President Xi Jinping. Some are deciding it’s not worth the trouble. Chinese stocks tumbled by the most since 2008 in Hong Kong and the yuan hit a 14-year-low after the confirmation that Xi’s policies of stronger state control …

Saudi Arabia has earmarked 10 billion riyals ($2.7 billion) to provide incentives for global supply firms to invest in the kingdom, part of plans to develop its economy as a hub for industrial companies. Crown Prince Mohammed bin Salman bin Abdul Aziz announced the plans as part of Saudi Arabia’s Global Supply Chain Resilience Initiative on Sunday, that aims to …

Australia joined the Global Methane Pledge, becoming one of the last major developed economies to sign on to an effort to reduce emissions of the potent greenhouse gas 30% from 2020 levels by the end of this decade. Announcing the decision to sign the methane pledge on Sunday, Climate and Energy Minister Chris Bowen said meeting the 2030 target could …

Liam Denning In between dabbling in geopolitics and buying-rejecting-not-really-buying Twitter, Elon Musk runs a car company. Tesla Inc. reported results that were somehow simultaneously great and yet humdrum. Revenue jumped 56% versus a year ago, but missed expectations by 3%; the stock fell slightly after hours on Wednesday. Such is the flip-side of high expectations. Musk appeared on the call …

Adidas AG’s next chief executive officer is set to inherit an even tougher job. The company warned that unsold goods are piling up as consumer demand weakens across China and western markets. That sent the German sport apparel maker’s stock slumping as much as 10%. Problems are accumulating under outgoing Chief Executive Officer Kasper Rorsted, including a publicity crisis over …

Families of passengers killed in two crashes of Boeing 737 Max jets were deemed by a federal judge to be official crime victims entitled to consultation before the US Justice Department cuts any deals with the maker of the flawed aircraft. US District Judge Reed O’Connor in Texas said in a ruling he will now determine what remedies the families …

Regional Australian airline Rex said operating costs on short flights will drop as much as 50% with the introduction of electric- and hydrogen-powered aircraft in coming years. Rex plans to start trials in early 2024 using King Air 200 planes, retrofitted with the new power trains, before later tests with Saab 340 aircraft, Deputy Chairman John Sharp said at a …

UK retail sales fall more than expected last month after the death of Queen Elizabeth II curtailed activity and cost-of-living pressures hit harder. The volume of goods sold in shops and online dropped 1.4% in September after a revised 1.7% decline the month before, data from the Office for National Statistics (ONS) showed. Economists had expected an 0.5% drop. Sales volumes …

TikTok users would still risk having personal data exposed to hacking and espionage by China even if the Biden administration forges a security agreement designed to spare the video platform from a total US ban. That’s the conclusion of former national security officials and other experts as the Justice Department reviews an accord that would keep the popular video-streaming app, …

Mobileye Global Inc, the self-driving technology company owned by Intel Corp, is targeting a valuation of about $16 billion in a public offering, far below its previous target amid a rocky year for new listings. Intel had lowered its expected valuation of Mobileye to $30 billion due to turbulent market conditions, Bloomberg News reported last month. The company plans to …