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Tag: industrial news

  • The Gaza War Has Been Big Business for U.S. Companies

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    Two years on, Israel’s war in Gaza might be finally drawing to a close. The conflict built an unprecedented arms pipeline from the U.S. to Israel that continues to flow, generating substantial business for big U.S. companies—including Boeing, Northrop Grumman and Caterpillar.

    Sales of U.S. weapons to Israel have surged since October 2023, with Washington approving more than $32 billion in armaments, ammunition and other equipment to the Israeli military over that time, according to a Wall Street Journal analysis of State Department disclosures.

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    Benoit Faucon

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  • Alaska’s New Mining Rush Chases Something More Coveted Than Gold

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    ESTER, Alaska—At a mining site here, Rod Blakestad cracked open a shiny rock with his pick. He found quartz, a sign that the rock may contain gold.

    But Blakestad, a veteran gold hunter, tossed the rock aside. He and his team of geologists were searching for something even more sought-after: antimony, an obscure element widely used in the defense industry that is now at the center of the bitter U.S.-China trade fight.

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    Jon Emont

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  • Chips Held Hostage in Trade War Start Flowing Again to Auto Suppliers

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    Nexperia microchips are leaving China again, easing a shortage of simple but ubiquitous parts that threatened to paralyze the auto industry.

    German automotive supplier Aumovio, which was recently spun out of tire giant Continental, said Friday that the Sino-Dutch company’s semiconductors and components containing them were on their way from China to Aumovio’s distribution hub in Hungary.

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    Stephen Wilmot

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  • Trump Administration Blocks Gunvor Takeover of Russian Oil Assets

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    Gunvor pulled its offer to buy the international assets of sanctioned Russian oil producer Lukoil after the U.S. Treasury Department said it opposed the deal and called the Swiss commodities trader the “Kremlin’s puppet.”

    The move signals the Trump administration is taking a hard-line approach in its recently launched effort to use economic pressure on Moscow to end the war in Ukraine.

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    Georgi Kantchev

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  • Louvre Skimped on Security to Spend on Art in Years Before Heist, Says Auditor

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    PARIS—France’s state auditor issued a searing assessment of the Louvre Museum’s finances on Thursday, alleging its management prioritized the acquisition of new artworks over the maintenance and security of its existing collection.

    The auditor released its 153-page report after a team of thieves used low-tech methods to break into the museum last month and steal France’s crown jewels, drawing attention to the Louvre’s porous security.

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    Noemie Bisserbe

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  • Eurozone Retail Sales Edge Lower Despite Improving Sentiment

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    Retail sales in the eurozone unexpectedly inched lower in September, contrasting with some of the rosier sentiment among consumers in recent months.

    Volumes fell back 0.1%, the same rate as in August, statistics agency Eurostat said Thursday. Economists polled by The Wall Street Journal had instead expected a 0.2% increase.

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    Ed Frankl

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  • German Industrial Production Rebounds Weakly Amid Tentative Hopes Over Outlook

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    Industrial production in Europe’s largest economy rebounded less than expected in September, amid hopes that the outlook could be changing for the sector ahead of large-scale government investment.

    Output rose 1.3% on month, Germany’s statistics agency Destatis said Thursday, offsetting some of the 3.7% decline in August. Economists polled by The Wall Street Journal expected a larger 2.5% uptick.

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    Ed Frankl

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  • France to Suspend Shein Sales After Finding Childlike Sex Dolls

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    The French government moved to temporarily suspend Shein’s website after authorities discovered sex dolls resembling children were being sold on its platform.

    The French finance ministry said Wednesday that it had begun the process to suspend Shein for “the time necessary for the platform to demonstrate” it has scrubbed its site of illegal products.

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    Chelsey Dulaney

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  • How China’s Chokehold on Drugs, Chips and More Threatens the U.S.

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    BEIJING—China has demonstrated it can weaponize its control over global supply chains by constricting the flow of critical rare-earth minerals. President Trump went to the negotiating table when the lack of Chinese materials threatened American production, and he reached a truce last week with Chinese leader Xi Jinping that both sides say will ease the flow of rare earths.

    But Beijing’s tools go beyond these critical minerals. Three other industries where China has a chokehold—lithium-ion batteries, mature chips and pharmaceutical ingredients—give an idea of what the U.S. would need to do to free itself fully from vulnerability. 

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    Yoko Kubota

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  • Canada Plans Wider Deficits to Jolt Economy

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    OTTAWA—Canada said Tuesday it intends to run wider deficits to finance spending and tax measures aimed at unleashing the massive private-sector investments the economy needs to rebuild amid a protectionist U.S.

    To offset some of the elevated costs, Prime Minister Mark Carney’s government said it would cut the size of the federal public-sector workforce by about 5%, or 16,000 jobs.

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    Paul Vieira

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  • Japan Is Overrun With Tourists. This City Wants More.

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    NAGOYA, Japan—The tourists who crowd the bullet trains from Tokyo tend not to disembark at Nagoya as they speed along the so-called Golden Route linking the Japanese capital with Kyoto and Osaka. 

    “Nagoya tobashi,” the locals say. Nagoya gets skipped. The manufacturing hub, which anchors the region that is home to auto giant Toyota, is Japan’s fourth most-populous city and, according to a decade-old newspaper poll that still stings here, number one in dullness. 

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    Jason Douglas

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  • Exclusive | Trump Officials Torpedoed Nvidia’s Push to Export AI Chips to China

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    Shortly before President Trump met Chinese leader Xi Jinping in South Korea, an urgent issue emerged. Trump wanted to discuss a request by Nvidia Chief Executive Jensen Huang to allow sales of a new generation of artificial-intelligence chips to China, current and former administration officials said.

    Greenlighting the export of Nvidia’s Blackwell chips would be a seismic policy shift potentially giving China, the U.S.’s biggest geopolitical competitor, a technological accelerant. Huang—who speaks to Trump often—has lobbied relentlessly to maintain access to the Chinese market.

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    Lingling Wei

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  • Rheinmetall Joint Venture Invests $577 Million to Produce Propellant Powder in Romania

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    Rheinmetall RHM 2.85%increase; green up pointing triangle and Pirochim Victoria said they will invest over 500 million euros ($576.9 million) in a new propellant powder plant in Romania.

    The German arms maker and the Romanian defense company signed a deal Monday to form a joint venture, with Rheinmetall holding 51% and Pirochim owning the remainder, Rheinmetall said.

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    Cristina Gallardo

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  • Why investors are no longer rewarding earnings beats, according to Goldman Sachs

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    Why investors are no longer rewarding earnings beats, according to Goldman Sachs

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  • Tariff-Driven Shifts Continue to Shape Asia’s Manufacturing Activity

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    Factory activity gauges in Asia reflected a divergence across major exporting economies, as worries over U.S. tariffs continued to cause shifts in supply chains.

    The latest set of S&P Global purchasing managers indexes showed that goods producers in export powerhouses South Korea and Taiwan flagged deteriorating demand last month, but Southeast Asian countries like Vietnam and Thailand recorded a pickup in new orders.

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    Kimberley Kao

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  • China Manufacturing Gauge Signals Weaker Growth Momentum

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    A private gauge of China’s manufacturing activity showed Chinese factories continued to expand production in October, albeit at a slower pace, signaling weaker growth momentum heading into the fourth quarter of the year.

    The RatingDog China General Manufacturing Purchasing Managers’ Index, compiled by S&P Global, declined to 50.6 last month from 51.2 in September, according to a statement released Monday.

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  • China Is Filling Up Its Oil Reserves Fast

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    China has spent months building up its oil reserves. That might come in handy in the wake of the new sanctions the U.S. recently imposed on Russian crude.

    During the first nine months of the year, the world’s second-largest economy imported on average more than 11 million barrels of oil a day, an amount above the daily production of Saudi Arabia, according to official customs data. Analysts estimate 1 million to 1.2 million of those barrels were stashed in reserves each day.

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    Rebecca Feng

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  • Essay | The Trade War Couldn’t Change China’s Economy

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    President Trump and Chinese leader Xi Jinping have walked back from the ledge—again. But even as the world’s two superpowers deescalate a trade fight that had threatened to destabilize the global economy, a new reality is setting in—that Washington may finally have to give up on its long-standing aim of pushing Beijing to restructure its economy.

    For years and through successive U.S. administrations, senior officials in Washington had hoped that bringing China into the global trading system would open up the country’s political system. In the decades since China’s accession to the World Trade Organization in 2001, those hopes of political liberalization have largely been dashed. The sense of disappointment has only grown as Chinese leader Xi Jinping, who took power in late 2012, has tightened his control over the domestic political system and civil society more broadly.

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    Jonathan Cheng

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  • Exclusive | White House to Announce Resumption of Auto Chip Shipments From China

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    The White House is set to announce that the Dutch semiconductor company that paused shipments weeks ago and risked upending global car production will resume sending chips under a framework agreement reached during talks between President Trump and Chinese leader Xi Jinping, people familiar with the plans said. 

    The new policy on the Dutch chips is part of a forthcoming document from the White House laying out the details of the U.S.-China trade deal signed this week, according to the people.

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    Ryan Felton

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