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Bloomberg
38 minutes ago
- Bloomberg
Live Q&A: How Xiaomi Succeeded in EVs Where Apple Failed
Linda Lew Xiaomi has emerged as the only major tech company to successfully break into the EV market — achieving in three years what Apple couldn't in over a decade. Lei Jun's confident jab at Apple during the Beijing SUV launch — paired with nearly 300,000 orders in under an hour — has sparked a global conversation. With its affordable pricing, slick Porsche-like designs, and seamless smartphone integration, Xiaomi's cars are seeking to redefine the smart vehicle landscape. Bloomberg's Annabelle Droulers, Linda Lew, Katrina Nicholas, and Vlad Savov unpack the rapid rise of Xiaomi's EV ambitions, its competitive edge in China's hyper-charged auto market, and what this means for global players like Tesla. Join the Live Q&A on July 7, 2025 at 11 a.m. HKT / 8:30 a.m. IST / 11 p.m. ET (July 6, 2025) Bloomberg digital subscribers and Terminal clients have the exclusive opportunity to ask our team live questions. This conversation will be recorded and be made available to listen and share.
Yahoo
an hour ago
- Yahoo
LVMH Acquires French Media Group Bey Médias
NEWSMAKER: LVMH Moët Hennessy Louis Vuitton is continuing to expand its media footprint with the acquisition of French media group Bey Médias. Financial details of the deal were not disclosed. More from WWD Moynat Opens Avenue Montaigne Boutique Jonathan Anderson's Dior Debut Draws Daniel Craig, Robert Pattinson, TXT and Rihanna Jonathan Anderson on Building His Dior World, One Show at a Time The luxury group was already a minority shareholder of the company, which publishes daily newspaper L'Opinion and financial news website L'Agefi. It has bought the stakes of founder Nicolas Beytout as well as those of other shareholders including Théthys, which is owned by L'Oréal's Bettencourt founding family; American businessman Ken Fisher, and Dow Jones, the group owned by media titan Rupert Murdoch. According to sources with knowledge of the matter, the acquisition was done through the group's Ufipar subsidiary. L'Opinion and L'Agefi will be in an entity distinct from the Les Échos – Le Parisien group. It is understood that the publications' editorial structures and teams would remain in place. Beytout will continue to serve as the media group's president as well as president and publishing director of L'Opinion, with Rémi Godeau remaining as editor in chief. Meanwhile, Alexandre Garabedian is staying as editorial director of L'Agefi. L'Opinion and parent company Bey Médias were created in 2013 by Beytout, former president of Les Echos – purchased by LVMH in 2007 – and former editorial director of Le Figaro. At the time, they received financing from the French luxury group to launch. Known for its liberal and pro-European stance, it has a partnership with Dow Jones-owned Wall Street Journal, allowing it to translate and publish articles drawn from the American publication. In 2019, Bey Médias acquired L'Agefi, a 114-year-old publication then owned by Artémis, the Pinault family's holding company. Last year, the media group entered unsuccessful negotiations with Czech billionaire businessman Daniel Kretinsky. Prior to that, it was in talks with French-Lebanese global transport tycoon Rodolphe Saadé, who owns several media including business news site La Tribune and TV channel BFMTV. LVMH also owns French people magazine Paris Match, acquired in October, and has owned daily newspaper Le Parisien and its national counterpart, Aujourd'hui en France, since 2015. Best of WWD EXCLUSIVE: Sean Combs Regains Control of Sean John Brand Isabel Marant Said in Play Again: Sources Holding Industriale Invests in Shoe Specialist Valmor 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
an hour ago
- Yahoo
India says ready to make deal with US but national interest to be ‘supreme'
India is ready to make trade deals in the national interest, but not just to meet deadlines, Piyush Goyal, minister of trade and industry, has said. When asked if a deal could be reached by the July 9 deadline set by United States President Donald Trump for all countries to negotiate trade agreements, Goyal said on Friday that 'National interest will always be supreme. Keeping that in mind, if a good deal can be made, then India is always ready to make a deal with developed countries.' 'India never does any trade deal on the basis of deadline or timeframe … we will accept it only when it is completely finalised and in the national interest,' Goyal told reporters. On April 2, Trump threatened a range of tariffs for all US imports. For India, that was set at 26 percent. On April 9, he paused those tariffs for 90 days and set in place a rate of 10 percent in the interim while countries worked out their respective trade deals with Washington, DC. That deadline is set to expire July 9. 'Free trade agreements are possible only when there is two-way benefit; it should be a win-win agreement,' Goyal said. Indian officials returned from Washington this week after an extended visit to iron out lingering concerns on both sides. Trade talks between India and the US have hit roadblocks over disagreements on import duties for car components, steel, and farm goods. India is resisting opening up its agriculture and dairy sectors while asking for a favourable tariff for its goods entering the US compared with the ones available for countries like Vietnam and China. Separately, India has proposed retaliatory duties against the US at the World Trade Organization, saying Washington's 25 percent tariff on automobiles and some car parts would affect $2.89bn of India's exports, according to an official notification.