Germany losing export shares to China in EU market, says German development bank
Germany is steadily losing export market share to China within the European Union, according to a report released Monday by the KfW Development Bank.
Tesco is set to respond to Asda’s price-cutting strategy as it reports full-year results. While Asda aims to reclaim market share with lower prices, analysts question its sustainability. Tesco, with a strong balance sheet, expects steady growth despite rising costs.
Tesco is poised to address the pricing challenge posed by rival Asda when it reports its full-year results on Thursday. Asda, the UK’s third-largest grocer, recently announced a strategy to cut prices to reclaim lost market share, even if it means sacrificing profits. However, many analysts are sceptical about Asda's ability to sustain a price war, citing rising prices in the UK grocery market and questioning whether its majority owner, TDR Capital, will provide enough financial backing.
In contrast, Tesco and its close competitor Sainsbury's both have stronger balance sheets, positioning them to better weather the pricing storm. Tesco's market share has remained robust, with the latest data showing a 27.9% slice of the UK grocery market, a slight increase from the previous year. Analysts believe Tesco, along with discount chain Aldi, has a solid strategy in terms of price perception and doesn't need to react aggressively to Asda’s move.
For the year to February 2025, Tesco expects a retail adjusted operating profit of around £2.9 billion, reflecting steady growth despite rising operational costs. Analysts predict continued growth for Tesco in 2025/26, even as market pressures mount.
China has rolled out the world’s first 10-gigabit (10G) fixed broadband network in Xiong'an New Area, promising ultra-fast speeds and low latency through cutting-edge optical infrastructure.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
China’s pivot away from U.S. liquefied petroleum gas under new tariffs is shaking global energy flows, slashing demand, and fuelling a scramble for alternatives across Asia, with Middle Eastern suppliers and rival buyers seizing the moment.
A deadly attack targeting tourists in India’s Jammu and Kashmir territory has left at least 20 feared dead, marking the deadliest incident against civilians in the region for years, according to security sources.
In an expansive interview marking his first 100 days back in office, President Donald Trump sketched out an agenda that touches everything from punitive tariffs and China policy to cease-fire hopes in Ukraine and an overhaul of domestic programmes. Below are the highlights.
Saudi Arabia and Qatar have agreed to settle Syria's $15 million arrears with the World Bank, allowing the institution to resume grants for the country's reconstruction and support for its public sector.
IMF and World Bank meetings in Washington left global finance leaders with more questions than answers on the economic impact of U.S. tariffs. Discussions on trade and debt concerns highlighted growing uncertainty, as markets worry about the broader economic fallout.
President Donald Trump on Thursday signed an executive order aimed at boosting the deep-sea mining industry, marking his latest attempt to boost U.S. access to nickel, copper and other critical minerals used widely across the economy.
Uzbekistan and Iran have agreed to establish a Joint Business Council aimed at fostering development of business ties and facilitating the resolution of issues between entrepreneurs from both countries.
Brussels has fined Apple and Meta over €700 million combined, launching its first crackdown under the Digital Markets Act aimed at curbing big tech’s power and boosting competition in the digital economy.
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