China's factories are busy and exports are booming. But ordinary Chinese consumers are not spending, and the latest figures suggest the situation is worsening rather than improving.
A portrait painting by 20th century Viennese artist Gustav Klimt sold for $236.4 (including fees) at Sotheby's on Tuesday night in what the auction house said was a record for a modern work of art.
Tesla’s new car sales in Europe plunged 27.9% in May, even as the region saw a major rise in demand for electric vehicles, data from the European Automobile Manufacturers Association (ACEA) showed.
Sales of electric and hybrid vehicles in China saw a strong year-on-year growth in May, boosted by government-backed trade-in programs designed to stimulate domestic consumption.
U.S. retail sales in February edged up by 0.2% as consumers pulled back on discretionary spending, signaling cautious optimism amid a broader economic backdrop marked by tariffs and federal workforce cuts.
UK retail sales unexpectedly fell 0.3% in December, following a revised 0.1% rise in November. The decline, driven by weak food sales, adds to concerns about the economy and raises expectations for a Bank of England interest rate cut next month.
A last-minute shopping surge and heavy discounts drove U.S. holiday sales higher than expected, rising 3.8% from last year, according to Mastercard SpendingPulse.
Toyota’s global production declined for the 10th consecutive month in November, down 6.2% year-on-year. However, the automaker saw a 1.7% increase in worldwide sales, marking the second consecutive month of growth.
Global arms sales surged 4.2% in 2023, reaching $632 billion, driven by conflicts, rearmament, and geopolitical tensions, a SIPRI report reveals.
Toyota’s global output fell for the ninth month in a row in October, primarily due to lower production in the U.S. and China. However, the automaker saw a 1.4% rise in global sales, reaching a record 903,103 vehicles for the month.
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