Markets & Business

Business

Macro signals, central banks, earnings, and the deals moving capital today.

4 stories · Edition of 2026-07-08 · Curated by AI at Invalid Date

BUSINESS

Chinese Companies Test Robotaxi Services in Beijing as They Seek Global Expansion

51d ago · Source: bbc

Chinese companies are testing driverless robotaxi services in Beijing’s Yizhuang district. Baidu, WeRide, Pony.ai and other firms operate commercial services within designated zones, allowing users to request rides through a mobile app and have a vehicle arrive without a driver. The vehicles travel among regular traffic, buses, cyclists, scooters and pedestrians.

China’s autonomous driving industry uses the same battery, sensor and chip supply chains that support its electric vehicle market. Government pilot programs permit testing on public roads, and the varied traffic conditions in Chinese cities generate extensive data for software development. Extreme temperatures, heavy rain and snow can reduce battery performance and affect sensor operation, presenting technical challenges for deployment in other regions.

Chinese firms are expanding internationally through partnerships with Uber and Lyft, which gain access to significant customer bases. Waymo, a U.S. robotaxi operator, is the current commercial reference, while Zoox and Tesla pursue more cautious rollouts. Analysts note differences in user experience and the complexity of regulatory approvals, with Chinese companies facing safety reviews and data security considerations in foreign markets.

Incidents such as locked vehicle doors and a 2023 crash in California in which a robotaxi dragged a pedestrian after being struck have attracted public attention. Regulators in several jurisdictions have suspended or restricted services pending review. Chinese officials say policy attitudes are improving and describe robotaxis as part of a strategy to develop a high‑tech, AI‑driven economy that builds on existing strengths in batteries, EVs and manufacturing.

Industry leaders expect wider consumer adoption within five to ten years, though cost reductions and regulatory clarity are needed. The success of Chinese robotaxi services will depend on how quickly they can address safety concerns and navigate foreign regulatory environments.

TOP STORY

Samsung Forecasts 19-Fold Profit Increase as AI Memory Chip Demand Surge

Samsung Electronics said it expects operating profit of 89.4 trillion won for the April‑June quarter, a 19‑fold increase from the prior period, marking its third consecutive qua...

51d ago · Source: bbc · 1 min read

Samsung Electronics said it expects operating profit of 89.4 trillion won for the April‑June quarter, a 19‑fold increase from the prior period, marking its third consecutive quarterly record. The company released the earnings guidance on Tuesday, forecasting sales of about 171 trillion won, more than double the amount recorded a year earlier. Samsung attributed the profit rise to heightened demand for memory chips used in artificial intelligence, which has constrained supply and led to higher prices. IDC researcher Bryan Ma noted that demand for semiconductors in data‑center and AI infrastructure differs from traditional memory market patterns and that tight supply is likely to persist through next year. Samsung’s shares fell more than 8% in Seoul on Tuesday, while its market capitalization has more than doubled since the start of the year and SK Hynix has risen by over 200%. The strong performance of Samsung and SK Hynix has contributed to a more than 80% increase in South Korea’s KOSPI index this year. Nvidia reported record quarterly revenue of more than $80 billion for the January‑March period, but its stock declined amid concerns about competition in the sector. In June, South Korea announced a plan to invest at least $880 billion in semiconductor manufacturing projects led by Samsung and SK Hynix, with additional funding from Japanese, Chinese and Taiwanese firms. The investment plan seeks to expand chip production capacity, though the timing of meaningful supply relief remains uncertain.

BUSINESS

EasyJet Agrees to £5.5bn Takeover Offer from U.S. Investment Firm

51d ago · Source: guardian

EasyJet said it would accept a £5.5 billion offer from the U.S. private‑equity firm Castlelake that would take the airline private. The companies issued a joint statement on Sunday saying they had reached an agreement in principle and requested more time to finalize the deal. EasyJet, a member of the FTSE 250, had rejected an earlier offer of £6.50 per share, calling it undervalued, and a first bid of £5.60 per share had been made. Its shares closed at £5.58 on Friday, giving the company a market value of about £4.2 billion. The founder, Stelios Haji‑Ioannou, holds more than 15 % of the firm and could receive nearly £800 million if the transaction closes. EasyJet had been considered a takeover target after two profit warnings in the spring and a challenging macroeconomic environment that included higher fuel prices linked to the war in the Middle East. The airline’s chief executive, Kenton Jarvis, said bookings fell in March because of the war, and the carrier faces competition from Ryanair, Wizz Air and Jet2. Castlelake, based in Minneapolis, specializes in asset‑based lending and leasing of aircraft. It previously explored a stake in SAS, which it is now selling, and has indicated it will create a European holding company to meet EU airline ownership rules. The board of easyJet was advised by Evercore, while Goldman Sachs advised Castlelake. The firm must make a firm offer or withdraw by 5 p.m. on 3 August.

BUSINESS

Amazon bars mother from in-person business course

51d ago · Source: bbc

Amazon barred a mother from attending an in-person business course at a fulfillment center in Dunfermline, Scotland, after telling her that children under six are not permitted on site. Rachel Bews notified Amazon a week before the event that she needed to bring her 20-week-old baby while breastfeeding. The company informed her on the day of travel that the policy applies to all visitors and employees and prohibits children under six. Amazon apologized, said the health and safety rule had not been communicated clearly, and said it was reviewing its communications. Bews said a lactation room existed at the venue but she had not prepared sterilised bottles or equipment for expressing milk. She noted that she could continue the online portion of the six-week course but missed the in-person networking opportunities. NHS guidance advises employees who are breastfeeding to inform their employer before returning to work and states that continuing to breastfeed is possible. The incident highlights challenges for working mothers seeking professional development and raises questions about accommodation policies at large retailers.