US Treasury Secretary Scott Bessent said Sunday that President Donald Trump could speak with China's Xi Jinping "very soon," and that such a call could help break the logjam in the trade talks between the world's two biggest economies. On when a Trump-Xi call could take place, Bessent said: "I believe we will see something very soon."
German industrial orders rose in September for the first time in five months, data showed Wednesday, but officials warned geopolitical and supply chain woes meant the outlook remains muted. "The order situation remains fragile in view of the ongoing geopolitical uncertainties and, most recently, uncertainties surrounding the supply situation" for some products, it said in a statement.
German carmaker BMW on Wednesday reported a rise in profitability in the last quarter despite facing challenges from slowing Chinese sales and tariffs. The carmaker, which also makes Mini and Rolls-Royce cars, cut its outlook for 2025 in October due to tariff costs and slowing sales in key market China, where European manufacturers are losing sales to local rivals.
Japanese auto giant Toyota on Wednesday hiked its operating income and net profit forecasts for the current fiscal year despite the impact of US tariffs. The firm said Wednesday that net income in the first half fell 7.0 percent to 1.8 trillion yen while operating income plunged 18.6 percent to 2.0 trillion.
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