China’s EV price war is heating up. What’s behind the big discounts?

Key Points

Industry giant BYD announced a slew of discounts — some of nearly 30% or more – on selected models.
The average car price has fallen by around 19% over the past two years in China to around 165,000 yuan ($22,900).
Rather than reflecting market expansion, double-digit growth of new energy vehicles sales in China is just eating into internal combustion engine cars’ slice of the pie, Ying Wang, Fitch managing director, APAC Corporate ratings, told reporters Tuesday.

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Finance

Ken Griffin’s flagship hedge fund at Citadel rises 10.2% in volatile 2025

January 2, 2026

Key Points Citadel’s flagship multistrategy Wellington fund, its largest, gained 10.2% in 2025, according to a person familiar with the firm’s returns. The firm’s tactical trading fund, which combines equities with quantitative strategies, advanced 18.6% in 2025, the person said. Source

Finance

Stocks making the biggest moves midday: Vertiv, Baidu, Warby Parker, RH & more

January 2, 2026

Check out the companies making the biggest moves midday: Vertiv — Shares popped 8% after Barclays upgraded the data center infrastructure provider to an overweight rating from equal weight. The bank said recent volatility has created an attractive entry point, and believes that upside potential to earnings estimates will drive further outperformance. Sable Offshore — […]

Finance

Meet the 2026 stock market. It’s the same AI-reliant market of 2025

January 2, 2026

Key Points The first trading day of 2026 kicked off Friday, with tech leading the way as it had last year. The Magnificent Seven stocks are all higher, with Nvidia and Alphabet advancing more than 1%, each. Semiconductors are rising as a group, with Broadcom gaining more than 1.5%. “The winners, in our view, are […]