China to Name and Shame Firms Blamed for Destructive Price Wars
Officials from China's powerful economic-planning agency — the National Development and Reform Commission — used a briefing on Friday to lay out a range of measures targeted at the firms and tactics it blames for fanning deflationary pressure in the economy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
29 minutes ago
- Yahoo
Pony AI (PONY) Expands Robotaxi Services to Shanghai—Analysts Stay Bullish
Pony AI Inc. (NASDAQ:PONY) is one of the . On July 30, Goldman Sachs analyst Allen Chang maintained a 'Buy' rating on the stock and set a price target of $26.00. The firm is optimistic about the company's strategic advancements and growth potential in the autonomous vehicle sector. Pony AI's latest commercialization efforts have borne fruit, with the company having obtained a permit to provide fully driverless commercial Robotaxi services in the Shanghai Pudong New Area. The company has already been operating in major tier-1 cities like Beijing, Shenzhen, and Guangzhou, and now that it has expanded into Shanghai, it has strengthened its market presence and revenue potential further. A fleet of autonomous vehicles driving down a sun-drenched highway. The Chinese autonomous vehicle technology company is religiously devoted to technological innovation, as evident from its full time Robotaxi testing across areas such as Beijing, Shenzhen, and Guangzhou. Meanwhile, the Gen-7 Robotaxi manufactured in collaboration with major automotive manufacturers' further promises lower hardware costs and enhanced software capabilities. Pony AI Inc. (NASDAQ:PONY) specializes in autonomous mobility, offering AI-driven robotruck and robotaxi services, intelligent driving software, and vehicle integration solutions. While we acknowledge the potential of PONY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Must-Watch AI Stocks on Wall Street and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
36 minutes ago
- Yahoo
'"We're making significant progress': Work begins on new council home development
A new housing development is set to provide 17 new homes. Work has begun on the site at Coshneuk Road in Millerton, as part of North Lanarkshire Council's wider plan to deliver 6000 homes by 2035. The properties will include a mix of one and two-bedroom flats, as well as two, three, and four-bedroom houses and a bungalow designed for disabled access. Councillor Michael McPake, housing convener, said: "It's always pleasing to mark the beginning of another new council housing project which will deliver more new homes for our tenants, particularly in an area of high demand. "We're making significant progress in delivering our new supply programme, providing jobs, boosting the local economy, and building homes for our tenants now and for generations to come. "It's all part of our ambition to make North Lanarkshire the place to live, and I look forward to watching the new homes progress." Read more: Plans to build five-bedroom villas revealed - what we know (Image: North Lanarkshire Council) The £4.2 million development is being delivered in partnership with The JR Group and will receive grant funding from the Scottish Government's Affordable Housing Supply Programme. Expected to be completed by spring 2026, the development will feature ground source heat pumps to reduce heating emissions, along with triple-glazed windows, high levels of insulation, and solar panels. The homes are designed to meet Housing for Varying Needs standards, allowing them to adapt to residents' changing requirements, and are built to Secure by Design principles to improve safety and security. Read more: 'Urgent' road closure put in place in busy area - here's where Gary McGregor, managing director of The JR Group, said: "As a business, we are committed to playing our part in delivering much-needed, energy-efficient new homes to communities across Scotland, so it is fantastic to be working alongside North Lanarkshire Council to deliver our first project for them. "Coshneuk Road is a well-considered development and sits in a fantastic, well-established community, close to local amenities. "As a brownfield site, it is great to see it brought back to life and given a new purpose. "The homes we are building here are modern, spacious, and energy efficient, and we look forward to progressing works in the coming months."
Yahoo
38 minutes ago
- Yahoo
Why Reeves would do best to bank on Bailey
Rachel Reeves is fighting on too many fronts. She remains wedded to her 'iron clad' fiscal rules when even the traditionally hawkish German government is relaxing its budgetary rules to make provision for extra defence spending. Moreover, the chancellor has moved into potentially dangerous territory by antagonising the Bank of England. She is in open conflict with governor Andrew Bailey over her extraordinary scheme to relax the financial regulation that was brought in after the 2007-2009 banking crisis to ringfence retail banking – a service for business and the general public – from the excesses of investment banking. This is all supposed to be in the interests of the faster economic growth on which she has rashly staked her reputation. But the UK's financial sector is quite big enough already. It is there to serve the interests of the wider manufacturing, innovative and service economy, as well as us 'consumers'; it is not supposed to be an object of growth in itself. Bailey is rightly worried about the threat to the financial system of governments playing fast and loose with the rules. The chancellor used to go on about the brief period she spent as a junior Bank of England official, but that hardly bears comparison with Bailey's experience there. After a 40-year career on Threadneedle Street, Bailey knows the City in general – and the banking system in particular – inside out. One of the great governors of the past 40 years was 'Steady' Eddie George (1993 to 2003). Bailey ran George's private office for a time and learned at the feet of the master. Alas, George's successor, Mervyn King, was not as interested in the City as most Bank governors are, and, sadly, the Bank took its eye off the ball in the run-up to the 2007-09 banking crisis. Bailey must be well aware of this. It shows not only in his opposition to Reeves's advocacy of deregulation, but also in a more parochial dispute he is having with the chancellor over the granting of banking licences to Revolut, the challenger fintech firm. Actually the relationship between governments and central banks is a hot topic at present, not least on account of the abuse being levelled at Jay Powell, chair of the United States central bank, the Federal Reserve, by Donald Trump – still president of the US at the time of writing. While Trump does his best to disrupt the trading relationships of the world economy, the Federal Reserve is concerned about the domestic inflationary threat from his tariff policies. Powell has, understandably, been refusing to bow to Trump's repeated requests for the Fed to lower interest rates. The president has called this distinguished central banker a 'numbskull' for doing his job and refusing to kowtow. When the Bank of England was granted operational independence to decide on interest rates policy – by chancellor Gordon Brown and his economic adviser Ed Balls in 1997 – I was concerned about the consequences of transferring such policy decisions from a democratically elected government to non-elected officials. However, I prefer the judgment of Powell to that of Trump; and I prefer the judgment of Bailey to that of Reeves. Both Bailey and his immediate predecessor, Mark Carney, saw through the tissue of lies produced by the Brexiters in the runup to 2016. We are continuing to live with the consequences of Brexit. It is about time that prime minister Keir Starmer and his chancellor woke up to the need to adopt the most obvious growth policy: a return to the customs union and single market. Photograph by Getty
