Headlines

China Evergrande New Energy Vehicle said on Monday that it is struggling to attract strategic investors amid a severe liquidity crisis, which has hampered its operations and delayed essential audits for 2024, Reuters reported. "The tough conditions under which the new energy vehicle in Mainland China is operating has certainly not facilitated this (securing a strategic investor) process," the firm said.

Administrators of bankrupt Signa Prime Selection AG are preparing to launch the sale of the Vienna Park Hyatt and adjoining luxury retail premises, including Prada’s flagship store, Bloomberg News reported. Real estate investment bank Eastdil Secured LLC has been appointed to offer the properties that are expected to attract bids in the region of €350 million ($361 million) to €370 million, two people said, asking not to be identified as the process is not yet public.

Mexican President Claudia Sheinbaum said on Monday that tariffs with the United States are on hold for a month after a conversation with President Donald Trump in which she committed to putting more law enforcement on the U.S. border to stop the flow of drugs, Reuters reported. "Our teams will start working today in two areas: security and commerce," Sheinbaum wrote in a post on X that announced the pause in tariffs. Trump ordered the 25% tariffs on all Mexican goods over the weekend, with Mexico saying it would respond with tariffs of its own without detailing on what products.

Canadian manufacturing activity increased at a slower pace in January as looming U.S. trade tariffs reduced confidence in the outlook, even as moves by clients to get ahead of the taxes led to the first increase in export orders in 17 months, Reuters reported. The S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) fell to 51.6 in January from 52.2 in December. Still, it was the fifth straight month above the 50.0 no-change mark. A reading above 50 indicates expansion in the sector. U.S.

German inflation remained elevated, reminding the European Central Bank that caution is still needed as it continues to lower interest rates, Bloomberg News reported. Consumer prices rose 2.8% from a year ago in January, matching December’s pace. The report follows weaker-than—anticipated figures earlier Friday from France, which prompted traders to ramp up bets on monetary loosening.

The euro zone's beleaguered manufacturing industry showed some signs of stabilisation at the start of the year as firms brushed off rising costs and the threat of U.S. tariffs to become more upbeat about the outlook, a survey showed. HCOB's final euro zone manufacturing Purchasing Managers' Index, compiled by S&P Global, climbed to 46.6 in January, ahead of a preliminary estimate for 46.1 and closer to the 50 mark separating growth from contraction.

Turkish inflation eased again at the start of the year, offering succor to the country’s central bank as it lowers interest rates from their current heights, the Wall Street Journal reported. Consumer prices were 42% higher on year in January, easing from 44% in December, figures from Turkey’s statistics authority showed Monday. That was a little higher than expected, according to a poll of economists compiled by FactSet, but still marks the eighth straight month of easing in the country’s rate of inflation, which reached a peak of more than 75% last May.

Colombia unexpectedly halted a series of interest rate cuts that began in 2023 as policymakers fret about the worsening fiscal outlook, a large minimum wage hike and tariff threats from US President Donald Trump, Bloomberg News reported. The central bank kept its benchmark interest rate steady at 9.5% in a split decision, Governor Leonardo Villar said after the meeting. Eight economists in a Bloomberg survey correctly predicted the move while 24 had forecast a quarter-percentage point reduction.

The Securities and Exchange Commission of Thailand (SEC) is set to introduce a new trading platform based on distributed ledger technology (DLT) that will enable securities firms to trade digital tokens, CoinMarketCap.com reported. This initiative aims to enhance the efficiency of the capital market by promoting an electronic securities ecosystem. Jomkwan Kongsakul, the deputy secretary-general of the Thai SEC, stated that the demand for token investments is increasing.

Northvolt AB’s appointed bankruptcy lawyers in the U.S. have sent a letter to creditors in Sweden threatening legal action if they don’t return to the company funds seized by the country’s Enforcement Authority, according to Bloomberg News reported. The steps to recover claims “violate United States federal law and an order from the US Bankruptcy court,” Christopher T. Greco, a lawyer for Kirkland & Ellis LLP, wrote in the letter seen by newspaper Dagens Industri.