The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
Chinese ride-hailing giant Didi Chuxing is planning to lay off about 2,000 people, or 15 percent of its workforce, this year, a source familiar with the situation said Friday.
That confirmed earlier Chinese media reports that Didi CEO Cheng Wei said in an internal meeting Friday that the company is preparing for difficult times.
Didi declined to comment to CNBC.
Didi is ultimately planning to hire about 2,500 employees this year in areas such as safety, technology and offline management operations, according to the source familiar with the matter. That would bring the company's 2019 year-end headcount to about 13,000, which would be on par with staffing at the end of 2018.
Didi is one of the most valuable start-ups in the world and bought Uber's China operations in 2016.
On Wednesday, Chinese tech news site 36kr, citing leaked internal financial statements, said Didi lost 10.9 billion yuan ($1.6 billion) last year and spent 11.3 billion yuan on driver subsidies. That was a marked acceleration from the company's 2017 loss of 2.5 billion yuan, according to the report.