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Japanese Defense Stocks Slide After China Announces Export Controls

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David Uberti hedcut

China added 20 companies to an export-control list that prohibits Chinese firms from selling them items such as machine tools, batteries and chip-making equipment.

Another 20 companies were added to a watchlist that means they can only receive such items if they satisfy China that they won’t be used in equipment sold to the Japanese military.

Many of the companies subject to export bans are defense-related subsidiaries of major industrial firms, including Mitsubishi Heavy Industries, IHI and NEC:

Shares of Mitsubishi Heavy Industries fell 3.1%, while shares of IHI and NEC slid 5.7% and 6.2%, respectively.

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Shares in Subaru, which was added to the watchlist, dropped 3.5%. The carmaker has an aerospace unit that supplies the Japanese military.

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Data center expansion reaches an ‘inflection point’

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Data center expansion reaches an ‘inflection point’

Key Points

  • Texas is about to unseat Virginia as the world’s largest data market, according to a new report from JLL.
  • Data center vacancies at the end of 2025 remained at a historic low of 1% for the second year in a row.
  • The demand is now being driven by hyperscalers and AI, and headwinds to new development are keeping construction less robust than it could be.

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Bars may be Mondelez’s next big platform

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Bars may be Mondelez’s next big platform

Acquisitions made since 2018 give the company a foundation in the category. 

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Earnings call transcript: Xometry’s Q4 2025 results show strong growth, stock dips

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Earnings call transcript: Xometry’s Q4 2025 results show strong growth, stock dips

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(VIDEO) Daniil Medvedev Cruises Past Shang Juncheng in Dominant First-Round Win at Dubai Tennis Championships

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Daniil Medvedev

DUBAI, United Arab Emirates — Daniil Medvedev wasted little time asserting dominance in the Dubai Duty Free Tennis Championships, dispatching China’s Shang Juncheng 6-1, 6-3 in straight sets Tuesday to advance to the second round of the ATP 500 event on outdoor hard courts.

The third-seeded Russian, ranked No. 11 in the world, needed just 1 hour and 6 minutes to close out the match on Centre Court at the Dubai Tennis Stadium. Medvedev fired 20 winners, including 10 aces, while winning 81% of his first-serve points and committing no double faults. Shang, ranked No. 262 and playing as a protected ranking entrant, struggled to find rhythm, managing only five winners against Medvedev’s relentless baseline pressure and precise serving.

Daniil Medvedev
Daniil Medvedev

The victory marked Medvedev’s second straight win over Shang in as many weeks. The pair met in the first round of the Qatar ExxonMobil Open in Doha on February 16, where Medvedev prevailed 6-4, 6-2. Medvedev’s flawless execution in Dubai — particularly his serve and return game — left Shang with few opportunities to mount a challenge.

Medvedev broke Shang’s serve four times across the two sets, converting on 57% of break points. Shang held serve just once in the first set and twice in the second, unable to counter Medvedev’s deep returns and aggressive court positioning. The Russian dictated play from the baseline, forcing errors and keeping rallies short when advantageous.

The match highlighted Medvedev’s strong start to 2026. After a solid Australian Open campaign and consistent results in the Middle East swing, he enters Dubai with momentum. The former world No. 1 and 2021 US Open champion won the Dubai title in 2023 and has a 4-1 record in first-round matches at the event, with no early exits since 2019.

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Shang, a 21-year-old rising talent from China, showed flashes of potential with his quick footwork and flat groundstrokes but lacked the consistency to trouble Medvedev. The young player has climbed rankings steadily but faced a steep challenge against one of the tour’s most tactically astute competitors.

Medvedev next faces Swiss veteran Stan Wawrinka in the round of 16, setting up an intriguing clash between the 30-year-old Russian and the 40-year-old three-time Grand Slam champion. Wawrinka, a wildcard entrant, advanced earlier Tuesday with a win over another opponent.

The Dubai Duty Free Tennis Championships, featuring a strong field including top seeds and former champions, continues through March 1 with a $3,311,005 purse on hard courts. Medvedev’s efficient win keeps him on course for a deep run as he seeks to add to his Dubai legacy.

Fans can catch highlights on ATP Tour platforms and TennisTV, with live coverage available worldwide. Medvedev’s performance underscores his status as a consistent threat on hard courts, particularly in the early rounds of tournaments where his defensive prowess and counterpunching shine.

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As the tournament progresses, Medvedev’s path could include potential quarterfinal or semifinal matchups against other seeded players. His ability to maintain focus and execute under pressure will be key in the competitive Dubai draw.

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GLP-1 pills to shake up food and beverage landscape

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GLP-1 pills to shake up food and beverage landscape

GlobalData expects the GLP-1 pill market will grow from $3.2 billion to $34.3 billion by 2031. 

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WBD says Paramount makes higher bid, board will weigh offer against Netflix deal

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WBD says Paramount makes higher bid, board will weigh offer against Netflix deal

An aerial view of the Paramount logo on the water tower at Paramount Studios on Feb. 23, 2026 in Los Angeles, California.

Justin Sullivan | Getty Images

Warner Bros. Discovery on Tuesday said it had received a higher takeover offer from Paramount Skydance and will review the new bid under the terms of its existing deal with Netflix.

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Last week, WBD announced it would re-engage Paramount in deal talks under a seven-day waiver from Netflix. WBD and Netflix have an agreement to sell the legacy media group’s studio and streaming businesses to the streamer. Paramount is seeking to buy the entirety of WBD.

“Following engagement with PSKY during the seven-day limited waiver period, we received a revised PSKY proposal to acquire WBD, which we are reviewing in consultation with our financial and legal advisors,” WBD said in a statement. “We will update our shareholders following the Board’s review. The Netflix merger agreement remains in effect, and the Board continues to recommend in favor of the Netflix transaction. WBD shareholders are advised not to take any action at this time with respect to the amended PSKY tender offer.”

Paramount in a statement confirmed it had submitted a revised bid and said it will continue with its previously announced tender offer while the WBD board reviews both deals.

If WBD deems the new Paramount offer superior, Netflix will have four days to improve its previously agreed-upon bid. Netflix agreed to acquire WBD’s studio and streaming assets for $27.75 per share in December, valuing the assets around $72 billion, with a total enterprise value of approximately $82.7 billion.

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Paramount subsequently launched a hostile tender offer to WBD shareholders for $30 per share for all of WBD, which includes linear cable networks such as CNN, TBS, HGTV and TNT and digital assets including Bleacher Report and House of Highlights.

If WBD concludes Paramount’s new offer is superior and Netflix doesn’t alter its bid, Netflix will receive a $2.8 billion breakup fee. Paramount has agreed to fund that fee as part of a previously altered hostile bid.

A combined Paramount-WBD would bring together HBO Max with Paramount+ along with merging two of the five largest movie studios by revenue — Warner Bros. and Paramount Skydance Studios. It would also put CNN and CBS News under one ownership structure.

Both the Netflix-WBD deal and a potential Paramount-WBD merger would need U.S. and European regulatory approval for completion, and both deals have raised antitrust concerns among critics.

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OneMedNet secures data licensing deal with Risorius

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OneMedNet secures data licensing deal with Risorius

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New CEO joins Sara Lee Frozen Bakery

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New CEO joins Sara Lee Frozen Bakery

Peter Laport takes over for Craig Bahner.

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FedEx sues US government seeking refund over Trump tariffs

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The US has collected $1.36 billion in tariffs on British exports in just four months, six times more than in the same period last year, highlighting the toll of President Donald Trump’s duties on UK manufacturers.

FedEx has launched legal action against the US government seeking a full refund of tariffs imposed under Donald Trump, after the US Supreme Court ruled last week that the levies had been introduced unlawfully.

The case, filed in the US Court of International Trade, names the United States, US Customs and Border Protection and its commissioner Rodney Scott as defendants. FedEx did not specify the amount it is seeking to reclaim but said it is entitled to reimbursement as an importer of record.

The lawsuit marks the first major corporate attempt to recover funds from an estimated $175bn in tariffs collected under Trump’s trade regime. Other companies are expected to follow.

In a 6–3 ruling, the US Supreme Court found that Trump had exceeded his authority by using the International Emergency Economic Powers Act (IEEPA) to impose sweeping import duties during peacetime. The court held that Congress retains sole constitutional authority to levy taxes, including tariffs.

However, the justices did not directly address whether importers would be entitled to refunds. In a dissenting opinion, Justice Brett Kavanaugh noted that the judgment left open questions about how billions of dollars already collected might be returned and warned that large-scale repayments could have significant implications for the US Treasury.

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FedEx said it was taking action to protect its rights following the ruling. “While the Supreme Court did not address the issue of refunds, FedEx has taken necessary action to seek duty refunds from US Customs and Border Protection,” the company said.

The decision represents the first time the Supreme Court has overturned a major policy initiative of Trump’s second term and challenges the administration’s expansive interpretation of executive authority in trade matters.

Despite the setback, Trump signalled he would press ahead with new tariffs under alternative statutory powers. He announced a temporary 10 per cent global tariff, which was subsequently raised to 15 per cent within 24 hours.

US trade representative Jamieson Greer said the policy direction remained unchanged, arguing that tariffs provide leverage in international negotiations.

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Senate Democrats have called for any refunded tariff revenues to prioritise small businesses and consumers. According to analysis by the Tax Foundation, tariffs in 2025 effectively amounted to a $1,000 tax increase on US households, contributing to higher prices and reduced economic output.

If successful, FedEx’s claim could open the door to a wave of refund demands from importers, potentially reshaping the financial legacy of one of the most aggressive trade policies in modern US history.


Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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(VIDEO) USA Women’s Hockey Team Declines Trump State of the Union Invitation After Olympic Gold Win

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USA Women's Hockey Team

The U.S. women’s hockey team, fresh off a dramatic gold medal victory at the 2026 Milano Cortina Winter Olympics, has declined an invitation from President Donald Trump to attend his State of the Union address Tuesday night, citing scheduling conflicts and prior commitments in a move that echoes past tensions between athletes and the White House.

USA Women's Hockey Team
USA Women’s Hockey Team

The decision, announced Monday, February 23, 2026, came a day after Trump extended invitations to both the men’s and women’s teams during a congratulatory phone call with the men’s squad following their overtime gold-medal wins against Canada. The women’s team, which defeated Canada 2-1 in overtime on Sunday to claim their third Olympic gold in the last four Games, released a statement through USA Hockey expressing gratitude but opting out.

“We are sincerely grateful for the invitation extended to our gold medal-winning U.S. Women’s Hockey Team and deeply appreciate the recognition of their extraordinary achievement,” the statement read. “Due to the timing and previously scheduled academic and professional commitments following the Games, the athletes are unable to participate.”

The men’s team, which also secured gold in a thrilling overtime finish against Canada, is expected to attend the address, according to sources familiar with the plans. During the call with the men, Trump joked that he would be “impeached” if he didn’t invite the women as well, saying, “I must tell you, we’re going to have to bring the women’s team, you do know that.” The comment drew laughter from the men’s team, sparking backlash on social media for perceived insensitivity, with critics accusing the players of endorsing Trump’s humor at the expense of their female counterparts.

The women’s team, led by captain Hilary Knight and featuring stars like Kendall Coyne Schofield and Alex Carpenter, has been celebrated for its resilience and dominance. Their gold-medal run included a semifinal shutout of Sweden and a hard-fought final against archrival Canada, marking the first time both U.S. hockey teams won gold in the same Olympics since the sport’s inclusion. The victory capped a strong showing for U.S. women at Milano Cortina, where they contributed significantly to the country’s medal haul.

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Trump’s invitation highlighted the teams’ achievements but quickly became a flashpoint. The president’s quip about impeachment — a nod to his own political history, including two impeachments during his first term — was seen by some as dismissive of the women’s accomplishments. Social media erupted with criticism, with one X user posting, “Why are they laughing? Disappointed and disgusting.” Others defended the men, noting the lighthearted context of the call.

The women’s decline aligns with a pattern of athletes skipping White House or political events during Trump’s presidencies. In 2018, after their PyeongChang gold, the team did visit the White House, but several high-profile athletes, including NBA stars like Stephen Curry and the entire Golden State Warriors team, opted out of visits amid political disagreements. The 2026 decision appears more logistical than overtly political, but it has fueled speculation given the timing — just days after the Olympics ended on February 22.

USA Hockey emphasized the honor of the invitation while underscoring the players’ post-Games obligations. Many team members are professional athletes in the Professional Women’s Hockey League (PWHL), with seasons resuming shortly, or have coaching and academic roles. Knight, for instance, balances her PWHL career with advocacy work for women’s sports equity.

Reactions poured in from across the sports world. Former U.S. captain Meghan Duggan praised the team’s focus: “These women just achieved something historic — let them celebrate on their terms.” ESPN analyst Emily Kaplan noted on air that the decline avoids potential controversy, allowing the spotlight to remain on their athletic triumph.

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The State of the Union, set for Tuesday evening, comes amid Trump’s second term, where he has prioritized domestic issues like economy and immigration. Inviting Olympic champions is a tradition to showcase national pride, but athlete participation has varied by administration. Under President Joe Biden in 2022, the women’s team visited the White House after their Beijing silver, highlighting equal pay achievements.

Trump’s administration has faced criticism for its handling of women’s issues, including sports equity. The president’s joke drew particular ire from advocates, who pointed to ongoing disparities in women’s hockey funding and visibility. The PWHL, launched in 2023, has helped professionalize the sport, but players like those on the U.S. team continue pushing for better support.

The women’s gold-medal game drew record U.S. viewership for women’s hockey, peaking at over 12 million on NBC, underscoring the sport’s growing popularity. The team’s decline of the invitation shifts focus back to their legacy: breaking barriers, advocating for equality and inspiring young athletes.

As the address approaches, the White House confirmed the men’s team attendance but did not comment on the women’s decision. Trump, in a brief statement, congratulated both teams again, calling their wins “a great American moment.”

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The episode highlights the intersection of sports and politics, where athletes increasingly weigh public appearances against personal and professional priorities. For the U.S. women’s hockey team, the choice prioritizes recovery and commitments over a high-profile event, allowing them to savor their hard-earned gold without additional spotlight.

With the PWHL season resuming and international competitions on the horizon, the team looks ahead. Knight, in a post-Olympics interview, emphasized unity: “This gold is for every girl who dreams big — and for our sisterhood that made it possible.”

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