Chinese automakers BYD, Leapmotor and Xiaomi smash annual delivery targets ahead of schedule

Chinese automakers BYD, Leapmotor, and Xiaomi have exceeded their annual delivery targets a month ahead of schedule, underscoring their rapid growth and strong market demand as the year comes to a close.

BYD delivered 504,003 passenger vehicles in November, up from last month's 500,526. Its cumulative deliveries for passenger cars stand at 3,740,930, exceeding its initial full-year target of 3.6 million deliveries.

Meanwhile, Stellantis-Backed Leapmotor saw 40,169 deliveries in November, up 5.22% from the previous month and 117% year on year.

Xiaomi, meanwhile, achieved the feat of surpassing its annual target of 100,000 deliveries midway through November.

Reference Sources

1. bussinesstimes - Tesla China shipments fall again amid hopes for bumper quarter
2. businessinsider - BYD raced past its annual delivery target ahead of schedule, throwing down the gauntlet for Tesla
3. eurodayfr - Citi predicts BYD will reach 5-6 million sales target by 2025 By Investing.com
4. nikkei - China's BYD marks 30th year by chasing 4m car milestone
5. cnbc - Chinese automakers BYD, Leapmotor and Xiaomi smash annual delivery targets ahead of schedule

Microsoft faces £1bn class action case in UK over software price

(Source: Shutterstock)

Microsoft is facing a legal action in the UK over a claim that thousands of businesses using cloud computing services provided by Amazon, Google, and Alibaba could be paying higher license fees to use windows server software. Competition lawyer Maria Luisa Stasi filed a case at the competition appeal tribunal on Tuesday, claiming that British businesses and organizations could collectively be owed more than £1 billion ($1.27 billion) in compensation.

She is seeking compensation of over £1 billion on behalf of UK businesses. The case has been brought on an "Opt-Out" basis, meaning UK organisations are all being represented to begin with unless they wish not to be.

Reference Sources

1. aawsat - Microsoft Faces UK Lawsuit over Cloud Computing Licenses
2. upi - British digital rights advocacy group launches $1.3B lawsuit against Microsoft
3. bbc - Microsoft faces £1bn class action case in UK over software prices
4. cna - Microsoft faces UK lawsuit over cloud computing licences
5. standard - Microsoft facing £1 billion legal claim from UK businesses

China deflationary pressures send benchmark bond yield to new low

China's 10-year government bond yield fell below 2% for the first time on Monday, highlighting the deflationary pressures facing the economy despite a flurry of stimulus announcements.

The yield on the 10-year government bond, which moves inversely to prices, dropped to a low of 1.979% during trading hours, according to Refinitiv data.

This was the first time the yield has fallen below the 2% threshold since at least 2000, when Refinitiv data became available.

Reference Sources

1. nikkei - China deflationary pressures send benchmark bond yield to new low
2. South China Morning Post China’s 10-year bond yield slumps to record low as investors scramble for safe haven

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.  

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