Tesla ceded its crown as the world’s top electric vehicle maker to China’s BYD, after annual sales fell for a second year, hit by rising competition, the expiry of U.S. tax credits and brand backlash. With global EV sales rising 28% last year, BYD outsold Tesla for the first time on an annual basis.
The U.S. dollar began 2026 stronger on Friday, snapping last year’s slump against most currencies as investors look ahead to a critical week of economic data that could steer Federal Reserve policy and global markets.
The pound held steady against both the dollar and the euro in thin holiday trading with little in the way of scheduled events that could move the currency until the new year.
Nvidia has purchased Intel shares worth $5 billion, the American semiconductor firm said in a filing, carrying out a transaction announced in September. The leading AI chip designer said in September it would pay $23.28 per share for Intel common stock.
Precious metals retreated sharply, with silver and platinum falling from record highs hit earlier in the session, as investors booked profits after recent rallies. U.S. gold futures for February delivery settled 4.6% lower.
Profits at China’s industrial firms in November fell at their fastest pace in over a year, as weak domestic demand offset resilience in exports in another sign of a stuttering economic recovery that backs calls for additional policy stimulus.
