Category: 3. Business

(Bloomberg) — Stocks chalked up a modest rebound as traders tracked the selloff in long-dated bonds, fueled by anxiety over inflation and mounting government debt. Gold hit a fresh all-time high.

European stocks rose 0.3% after suffering their steepest loss in a month in the previous session. Nasdaq 100 futures advanced 0.5% as Alphabet Inc. rallied in extended trading on Tuesday, buoyed by a ruling that Google won’t be forced to sell its Chrome browser. Contracts on the S&P 500 climbed 0.3% after two days of losses.

While equities found firmer footing, the bond selloff deepened. The yield on 30-year Treasuries climbed three basis points, coming within a whisker of the 5% threshold. Japanese debt joined the rout, with 20-year yields hitting the highest since 1999. UK gilts weakened further, while euro-area bonds proved more resilient.

The fragility of bonds underscores the strain from heavy public spending, which demands ever-rising bond issuance, and a broader erosion of confidence in sovereign credit. That uncertainty has spilled into equities, where traders are grappling with stretched valuations after a record rally, alongside persistent concerns over monetary policy and inflation.

“I don’t see this movement as a threat to the rising trend of stock markets,” said Roland Kaloyan, head of equity strategy at Societe Generale SA. “We don’t see yields rising much further than their current levels. That being said, this bond selloff means that there will be an even greater focus on Friday’s US job data and their impact on the Fed’s easing policy.”

Gold’s latest record comes as growing expectations for US interest-rate cuts bolster the metal’s attractiveness. The drop in bond and equities has also strengthened its appeal as a haven. Bullion climbed as much as 0.4% to hit 3,546.96 an ounce before paring gains.

“President Trump’s continued efforts to erode the Fed’s policy independence are also shaking confidence, in turn helping hard assets such as gold,” wrote Michael Brown, senior research strategist at Pepperstone Group Ltd. “The bull case remains intact.”

Corporate News:

Alphabet Inc.’s Google will be required to share online search data with rivals while avoiding harsher penalties, including the forced sale of its Chrome business, a judge ruled in the biggest US antitrust case in almost three decades. Alphabet shares rose in after-hours trading. The US has revoked Taiwan Semiconductor Manufacturing Co.’s authorization to freely ship essential gear to its main Chinese chipmaking base, potentially curtailing its production capabilities at that older-generation facility. TSMC shares retreated in Taiwan. Apple Inc.’s lead artificial intelligence researcher for robotics has departed the company to join Meta Platforms Inc.’s competing effort, part of an exodus of AI talent from the iPhone maker. A group of Thames Water’s senior creditors has submitted a new operational plan to the UK regulator as part of its bid to rescue and take over the ailing utility. Hong Kong is probing allegations of insider dealing that involve at least two individuals at the stock exchange and the city’s financial regulator as well as brokers and social media influencers. Some of the main moves in markets:

Stocks

The Stoxx Europe 600 rose 0.3% as of 9:05 a.m. London time S&P 500 futures rose 0.3% Nasdaq 100 futures rose 0.5% Futures on the Dow Jones Industrial Average fell 0.1% The MSCI Asia Pacific Index fell 0.8% The MSCI Emerging Markets Index was little changed Currencies

The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1641 The Japanese yen fell 0.2% to 148.71 per dollar The offshore yuan was little changed at 7.1456 per dollar The British pound fell 0.1% to $1.3374 Cryptocurrencies

Bitcoin fell 0.2% to $111,212.14 Ether was little changed at $4,318.2 Bonds

The yield on 10-year Treasuries advanced three basis points to 4.29% Germany’s 10-year yield declined one basis point to 2.77% Britain’s 10-year yield advanced two basis points to 4.82% Commodities

Brent crude fell 0.5% to $68.82 a barrel Spot gold rose 0.1% to $3,537.23 an ounce This story was produced with the assistance of Bloomberg Automation.

©2025 Bloomberg L.P.

Shell has axed the construction of its biofuels plant in the Netherlands, ending what would have been one of the biggest converters of waste into green jet fuel in Europe.

The oil company, which paused construction at the site in July last year to tackle technical problems, said it had decided not to restart building after it found the plant would be “insufficiently competitive” to meet demand for “affordable, low-carbon products”.

The move to scrap the project in Rotterdam marks another setback for its biofuel designs, after the company cancelled a sustainable aviation fuel (SAF) project on Singapore’s Bukom Island in March 2023.

It comes amid a wider shift away from renewable energy projects in the oil and gas sector as fossil fuel companies pursue higher profits.

In March last year Shell watered down a key emissions target, setting out a plan to reduce the carbon emissions intensity of the energy it sells by 15-20% by the end of the decade compared with its previous goal of 20%.

Shell began construction of the plant in Rotterdam in the Netherlands in 2021, initially expecting to start producing up to 820,000 tonnes of biofuels, with plans to bring it online in April 2024. This was later pushed back to 2025.

Machteld de Haan, the company’s head of downstream, renewables and energy solutions, said: “As we evaluated market dynamics and the cost of completion, it became clear that the project would be insufficiently competitive to meet our customers’ need for affordable, low-carbon products.

“This was a difficult decision, but the right one, as we prioritise our capital towards those projects that deliver both the needs of our customers and value for our shareholders.”

She added that the company continued “to believe that low-carbon molecules, including biofuels, will underpin the future energy system” and that Shell was “one of the world’s largest traders and suppliers of biofuels, including sustainable aviation fuel”.

About half of the biofuels from the plant in Rotterdam were expected to be used for SAF, made from waste cooking oil and animal fat.

Proponents for SAF believe it could be crucial for airlines to cut their carbon emissions in line with global climate targets, although critics argue it is not a realistic alternative given the limited timescale to prevent rising emissions from creating a climate disaster. The aviation industry accounts for about 3% of the world’s carbon emissions, according to the International Energy Agency.

European SMEs in China face growing challenges from regulatory complexity, competition, and financial constraints, with smaller firms particularly affected. The upcoming 2025/2026 Position Paper is expected to outline recommendations to improve financing, regulatory clarity, payment practices, IP protection, and fair market access.

European small and medium-sized enterprises (SMEs) continue to play a significant role in China’s economy, contributing to trade, innovation, and local employment. However, operating in the Chinese market has become increasingly complex, as companies contend with regulatory uncertainty, competitive pressures, and financial constraints. Understanding the evolving landscape is critical for SMEs seeking to sustain and expand their presence in China.

The EU SME Centre, in collaboration with the European Union Chamber of Commerce in China, conducted a survey between March and May 2025 to gather insights directly from European SMEs. While the final position paper has not yet been released, the preliminary findings of the survey suggest several emerging trends and concerns that are likely to shape the final recommendations —and these insights form the basis of our current article.  The survey captures the experiences of businesses operating across a range of sectors, including machinery, professional services, automotive and auto components, chemicals and petroleum, and medical devices, and provides a comprehensive view of the challenges, opportunities, and strategic priorities for SMEs in the country.

Survey findings highlight the geographic concentration of European SMEs, with a significant presence in Shanghai, Beijing, Nanjing, and Guangzhou, while smaller clusters operate in other commercial hubs such as Tianjin, Shenzhen, Shenyang, Chengdu, and Chongqing. This concentration reflects SMEs’ preference for established economic centers with robust infrastructure and business networks, while also pointing to potential growth opportunities in second-tier cities where competition may be less intense but local market knowledge and strategic planning remain essential.

This article draws on the survey data and broader policy developments to provide a forward-looking analysis of the challenges European SMEs face in China, as well as the measures and strategies that can help them navigate the market effectively. Following up on the 2024/2025 Position Paper, the article also previews the key recommendations expected in the 2025/2026 Position Paper, which will outline actionable steps to support SMEs, enhance competitiveness, and foster a more transparent and equitable business environment.

Challenges facing European SMEs in China: Local competition remain the top concern

European SMEs operating in China encounter a complex set of challenges that affect their growth, operations, and strategic planning. Competition with Chinese private companies remains the most pressing concern, compounded by slower economic growth and rising operational costs. Smaller firms are particularly exposed to cashflow pressures, often intensified by late payments, which can limit investment and responsiveness. Larger European companies, while also facing competition, prioritize talent management and navigating regulatory complexity, reflecting differing resources and operational priorities.

Access to financing continues to constrain SMEs. Many struggle to obtain loans from local banks and have limited access to government incentives or cross-border funding, forcing careful capital management. By contrast, larger firms generally face fewer constraints, highlighting the disparities in scale and institutional access. Revenue sources further underscore these differences: SMEs often rely heavily on European clients, following larger partners into China, while larger firms are more integrated with domestic clients.

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Regulatory and administrative hurdles remain a persistent challenge. SMEs report difficulties in understanding opaque requirements, securing licenses and permits, and navigating lengthy or inconsistent registration processes. Inconsistent enforcement across jurisdictions adds further uncertainty, increasing operational risk. Larger companies face similar issues on a broader scale, but SMEs are disproportionately affected due to limited resources. Late payments and unfavorable contract terms, particularly from private companies, create additional liquidity pressures.

These delays require SMEs to dedicate time and resources to debt management, which can affect day-to-day operations and strategic initiatives.

Intellectual property protection, while improving, continues to pose difficulties. High costs, piracy, counterfeiting, and limited enforcement capacity disproportionately impact SMEs, particularly in sectors where patents and proprietary technology are critical. Larger companies are better equipped to manage these risks, highlighting the resource gap between SMEs and major firms.

Anticipated recommendations for European SMEs in China

The 2025/2026 Inter-Chamber SME Working Group Position Paper, due in September 2025, is expected to provide a forward-looking roadmap to support European SMEs navigating China’s complex business landscape.

Drawing on insights from recent consultations and surveys, the forthcoming publication will likely emphasize measures to strengthen financial access, regulatory clarity, operational resilience, and competitiveness.

Enhancing financial accessibility

Securing affordable and reliable financing remains a critical hurdle for smaller European companies in China. The Position Paper is expected to call for targeted programs that facilitate SME lending, streamline access to government incentives, and improve cross-border funding mechanisms. Such initiatives would help companies maintain liquidity, fund growth, and invest in innovation.

Simplifying regulatory and administrative processes

European SMEs often face cumbersome administrative requirements and opaque regulations. Recommendations are likely to focus on improving transparency, reducing duplication in licensing and approval procedures, and fostering consistent enforcement across regions. By clarifying regulatory expectations, SMEs could better plan operations and navigate compliance with greater confidence.

Supporting cashflow and payment practices

Unpredictable payment terms and delays can strain SME operations. The upcoming Position Paper may advocate for frameworks that encourage fair payment practices and promote timely settlements, particularly in business-to-business transactions, ensuring SMEs can allocate resources efficiently and reduce financial risk.

Strengthening IPR

Protecting proprietary technology and brand assets remains essential for SMEs, particularly in innovation-driven sectors. Recommendations are expected to highlight measures that simplify IP registration, enhance enforcement mechanisms, and support companies in addressing counterfeiting and infringement, helping to secure competitive advantage in China’s dynamic market.

Fostering a level playing field and talent access

The Position Paper is likely to underline the importance of creating fair opportunities for SMEs alongside domestic competitors, including access to procurement, financing, and talent. Policies that facilitate workforce mobility, provide supportive infrastructure, and encourage skills development will be crucial for sustaining innovation and operational excellence.

Is China still a worthy market for EU SMEs?

Short answer is: Yes — but only for those that know where they belong. Amid mounting challenges, ranging from regulatory complexities and economic slowdown to fierce competition from domestic players, China is no longer a catch-all growth engine for European SMEs—it demands a more nuanced and strategy-driven approach. Rewards will go to companies that play to their strengths, adapt to local realities, and treat China as one part of a wider Asian strategy.

Few drivers of China’s attractiveness for EU SMEs:

• Market size and growth: As the world’s second-largest economy and second-largest healthcare and consumer market, China still expands faster than most advanced economies, even in a slower-growth era.
• Demand for quality: Chinese buyers are moving up the value chain, seeking premium, sustainable, and niche products. This is where EU SMEs excel, from precision machinery and specialty food and beverage to medtech and green solutions.
• Policy push for upgrading: Strategic sectors such as biotech, renewable energy, and advanced manufacturing continue to receive heavy government support, aligning well with European expertise.
• Digital sales channels: Cross-border e-commerce platforms like Tmall Global and JD Worldwide lower entry barriers, allowing SMEs to test the market without committing to full-scale operations.
• Supply chain and RCEP access: China’s role in regional supply chains and its participation in the Regional Comprehensive Economic Partnership (RCEP) enhance connectivity and trade facilitation across Asia, offering EU SMEs broader access through a China base.

Again, China no longer offers a one-size-fits-all solution. The path to success for EU SMEs lies in specializing in high-value or niche sectors, where distinct European expertise can differentiate offerings and mitigate the pressure of mass-market competition.

Localized partner and distributor networks are critical to navigating regulatory hurdles and sustaining market momentum. Additionally, digital-first entry routes, such as cross-border e-commerce and localized online sales platforms, offer a scalable, lower-risk approach to market entry.

In sum, China remains a valuable destination for EU SMEs, but only if approached strategically. Companies that align with niche markets, build the right partnerships, leverage digital routes, and integrate China into a broader Asian or global strategy are likelier to thrive. This isn’t about writing off the market, it’s about recognizing how it must be approached differently today.

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Campaign showcases how Samsung’s AI Home brings comfort and meaning to everyday life

Samsung Electronics Co., Ltd. unveiled a new campaign under the theme “SmartThings Meets AI Home.” The video demonstrates how Samsung’s AI Home delivers innovative, everyday AI experiences that enrich consumers’ lives. Released ahead of IFA 2025, the campaign highlights Samsung’s vision for the AI Home as newly defined by SmartThings.

Samsung’s AI Home understands users and adapts to their needs, delivering a personalized AI experience that connects both Samsung and third-party devices through SmartThings. The video shows examples of how AI Home enables users to enjoy more quality time and focus on what matters most by doing less at home.

In the video, SmartThings Routine adjusts the air conditioner temperature and lighting, while a single tap on the SmartThings app enables home appliances to manage household chores automatically[1]. This allows users to enjoy quality family time, comfortable relaxation, and restful sleep. Additionally, through the SmartThings Pet Care service, users can care for their pets even when they are busy.

“With this campaign, we aimed to highlight Samsung’s AI home experience redefined by AI leadership and SmartThings in a way that truly connects with customers,” said Won-Jin Lee, President and Head of Global Marketing Office at Samsung Electronics. “We will continue to make efforts to bring AI home experiences that make everyday life simpler, more meaningful and more human.”

Starting Sept. 2, the video will appear on outdoor screens at global landmarks such as Times Square in New York and Piccadilly Circus in London, and will also be available on Samsung’s official social media channels, including YouTube.



For more information, please visit: https://news.samsung.com/my/

[1] Applicable to appliances connected to the SmartThings App available on Android and iOS devices. Requires routine setup through the SmartThings app. A Wi-Fi connection and a Samsung account are required.

In conversation with Mark Southwell, AECOM Executive Vice-President, Global Business Line Chief Executive, Transportation and Ray Rawlings, AECOM Australia and New Zealand Industry Director and Major Projects, Transport

As Australia and New Zealand navigate the shift in transport infrastructure delivery shaped by changing investment patterns, evolving client expectations and the urgent need for cost certainty, our Global Chief Executive for Transportation, Mark Southwell and Transport Industry Director in Australia and New Zealand, Ray Rawlings, discuss how we’re addressing these challenges and delivering positive impacts for local communities. 

Ray: Mark, could you share your overall observations from your visit to Australia and New Zealand? 

Mark: I’ve visited some truly world-class projects underway here – the Western Harbour Tunnel in Sydney, Melbourne’s Metro Tunnel and City Rail Link in Auckland, where I was fortunate to learn more about New Zealand’s rich Māori heritage and how this is woven into the very fabric of projects that we are delivering. The energy and commitment of the people behind these projects were really fulfilling to see.

I’ve discussed several challenges with clients and industry leaders while I’ve been over here… the budget constraints, construction productivity, delivery risk and capability gaps are those we see worldwide. This presents an opportunity to share solutions across borders. Programmatic thinking, collaborative delivery and a design-to-cost mindset will help address these challenges, all while navigating the pipeline shift away from the mega-projects of the past 15 years.

Ray: We’ve seen the UK experience a slowdown in its transportation infrastructure investment. What lessons can we learn, or outcomes should we expect in the Australian and New Zealand market?  

Mark: The slowdown in transport infrastructure in the UK offers a timely reflection point. With the UK generally being a few steps ahead of what then tends to happen in the Australia and New Zealand market, you’re starting to experience that recalibration here too. But this isn’t a retreat…it’s a redirection.

The infrastructure sector must broaden its lens. The skills developed in transport, particularly linear infrastructure, are highly transferable. For example, the energy transition presents a compelling opportunity to apply these capabilities in new ways. In the Australia and New Zealand, we’re already exploring how our major project delivery experience can support the green economy.

Equally important is the shift toward local delivery. While mega-projects have dominated headlines, the future lies in a balanced portfolio that includes smaller, high-volume projects delivered in partnership with local councils and government agencies. These projects may be modest in scale, but their impact on communities is profound.

Ray: Let’s touch on the mega stuff quickly. High-speed rail… is Australia ready? What models have been successful globally?  

Mark: High-speed rail is once again a topic of national conversation in Australia. But as we’ve seen globally, success depends on context.

There’s no universal blueprint. What works in Spain or the UK won’t necessarily work in Australia. However, high-speed rail remains a proven and successful form of transportation that can help grow and connect economies of any country where it operates. In countries like Australia and the US, high-speed rail is most effective when it competes directly with air travel, connecting cities over distances where rail can offer a viable, sustainable alternative.

The delivery model must be tailored. Whether through a delivery partner approach or a systems-based structure, the goal is to bring together the right expertise and governance to deliver long-term value. AECOM’s experience in diverse and unique regions, spanning California to Madrid, means we’re well placed to shape the right solution for Australia.

Ray: What role has digital played in transportation innovation? Are you seeing the adoption of digital technology to drive efficiencies and value for money? 

Mark: The levels of maturity and focus of digital technology varies across the globe. There’s a concentrated effort in Australia and New Zealand to bridge the gap between the capital build phase and the operations and maintenance phase; hence, digital requirements are increasing.

With digital models and technical drawings increasingly automated, workflows, effective clash detection, and data delivery are all more efficient, reducing both cost and risk. What stood out here was seeing these models integrated into gaming engines to help close the disconnect between those who build infrastructure and those who must run and maintain it afterwards.

With this technology, stakeholders that range from maintenance engineers to people with disabilities could virtually walk, drive, or fly through designs, gaining firsthand experience of roadways, bridges, and the broader urban landscape. The commitment to digital workflows here goes beyond standard delivery, and we’re now achieving greater efficiency by connecting every part of the process and optimising project delivery from start to finish.

Ray: We’ve seen NEC4 [New Engineering Contract 4] contracts, which are widely adopted in the UK, becoming increasingly prevalent in Australia, and gaining traction in New Zealand. What can we learn about this model?

Mark: The NEC4 contract model shows us how a well-designed structure can support collaboration.

NEC4 simplifies language and focuses on early risk identification and joint problem-solving. It’s not about protecting positions; it’s about delivering outcomes. It encourages all parties to identify risks early, assess impacts and co-create solutions.

This approach aligns naturally with how people in Australia and New Zealand want to work; openly, constructively and with a shared purpose. It’s a model that supports not just better projects, but better partnerships.

Ray: As you know, budget constraints and cost escalations are one of our biggest challenges. How can we implement AECOM’s learnings from around the world?   

Mark: With governments under pressure to do more with less, cost certainty has become a global imperative. The industry must respond with discipline and innovation.

Continuing to design everything from scratch isn’t sustainable. Embracing repeatability, modularity and design for manufacture and assembly offers practical pathways to improved productivity. These are not just buzzwords; they’re levers for change.

Clients are ready for this shift. They want solutions that are affordable, scalable, and deliverable. We can lead these conversations, bringing forward ideas that reduce costs, increase certainty, and deliver better outcomes. Because this is a global challenge, we’re in a position to leverage our global network, connecting people, ideas and capabilities to solve it.

Toyota Motor Europe NV/SA (TME) oversees the wholesale sales and marketing of Toyota, GR (Gazoo Racing) and Lexus vehicles and parts and accessories, as well as Toyota’s European manufacturing and engineering operations. Toyota directly employs over 26,000 people and has invested over EUR 12 billion in Europe since 1990. Its eight European manufacturing plants are located in Portugal, the UK, France, Poland, Czech Republic and Turkey. Today, there are approximately 14.7 million Toyota and Lexus vehicles on European roads, whose drivers are supported by a network of 28 National Marketing and Sales Companies and around 2,800 retail sales outlets in 53 countries (EU, UK, EFTA countries , Israel, Turkey and other Eastern European countries). In 2024, TME sold 1,217,132 vehicles in Europe for a 7.1% market share. For more information, visit www.toyota-europe.com.

Toyota believes that when people are free to move, anything is possible. In the pursuit of “Mobility for All”, Toyota aims to create safer, more connected, inclusive and sustainable mobility to achieve its mission of producing “Happiness for All”. In Europe, TME launched the KINTO mobility brand which offers a range of mobility services in 20 countries, and is growing its business-to-business sales of zero-emission fuel cell products and engineering support. Contributing to the UN Sustainable Development Goals, Toyota is working to achieve carbon neutrality in its entire business across Europe. A historic leader in CO2 reduction in Europe, TME aims to achieve 100% CO2 reduction in all new vehicles in Western Europe by 2035 and will continue to offer a full range of electrified powertrains to customers across the region with its hybrid, plug-in hybrid, battery and fuel cell electric vehicles.  

Launch of the Climate Resilience Awards for Business- open until 18^th October

Purpose of the awards 

The aims of the Global Business Climate Resilience Awards are, to: 

Recognize innovative solutions that strengthen resilience in communities, ecosystems, and economies through business action. 

Promote collaboration between organizations, governments, and businesses in driving sustainable resilience practices. 

Showcase exemplary efforts that inspire others to adopt resilience-focused strategies with practical ‘how to’ s and lessons learned. 

Award categories and criteria 

Business achievements will be recognized along the following categories: 

1. Strategic Leadership in Resilience Award: Honoring businesses that have either 

a.  integrated resilience across their operations.
b. trialled Innovative resilience solutions including technologies, methodologies, or financing mechanisms that substantially improve resilience capabilities. 
c. addressed supply chain resilience or improve resilience along a logistics route 
d.  been driven by an outstanding commitment by an individual changemaker to go beyond ‘business as usual’ 

2. Partnerships and Collaboration Award– have demonstrated successful public- private collaboration with national or regional authorities in planning (including NAPSs) or implementing adaptation actions and improved capability and relationships across stakeholder groups 

3. SME award– Award in any of the above categories but for a small business 

Winners will be assessed against the following criteria by a judging panel including external experts from the business and resilience communities: 

FAQ

Good to know: WBCSD supports the COP30 Business Action Bank– therefore there is no need to enter the same resilience case study twice (note that submissions to the Business Action Bank may not automatically be submitted to the awards process). 

On 2 September WBCSD launched the CEO Handbook for Physical Risks, designed to engage CEOs on the critical importance of managing physical risk for business continuity. Later in September we will be releasing a CEO Handbook for Executive Engagement, created to support meaningful discussions between CEOs, C-Suite executives, Board and investors on managing physical risks across value chains. To be the first to receive this guidance, sign up here.   

In June WBCSD published its latest guidance on adaptation and resilience, “Adaptation Planning for Business- Navigating Uncertainty to build long-term resilience, which offers a practical roadmap to identify risks, design solutions, integrate adaptation into core business functions, and monitor progress. This guidance builds on WBCSD’s The Business Leaders Guide to Climate Adaptation & Resilience | on how to start your adaptation journey through strategic frameworks.