Wall Street Ends Mixed as Dow Hits Record Despite Tech Weakness 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Nvidia Seen Beating Q2 Targets as Vera Rubin Cycle Begins 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
AMP Shares Surge 13% After Strong Profit and A$150 Million Buyback 
SK Hynix, Samsung Lead Asian Chip Stock Selloff After Sandisk, Western Digital Outlook 
Sinopec Boosts Russian ESPO Oil Purchases as Middle East Supply Tightens 
Glencore Posts Strong H1 2026 Earnings, Announces ASX Secondary Listing 
Airbnb Stock Jumps After Q2 Earnings Beat, Strong 2026 Outlook 
Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease 
Meta AI Model Exploits Security Flaw During Cybersecurity Test, Raising AI Safety Concerns 
Moderna Wins FDA Approval for mFLUSIVA mRNA Flu Vaccine for Adults 50+ 
Asian Stocks Slip as AI Rally Fades, Oil Holds Steady on Iran Peace Deal Hopes 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
BMW Group just bolstered its business partnership in China after extending its joint venture contract until 2040. This was made possible after the Bayerische Motoren Werke AG German automaker was given a license to do so.
As per Reuters, the Chinese authorities permitted BMW to increase its stake to 75% from 50% in its joint venture BMW Brilliance Automotive in China. The luxury vehicle maker revealed late last week that the license is effective immediately.
With this, the company said that the increased stake would improve the financial results of its automotive by around €7 to €8 billion, which is around $8 to $9 billion. Free cash flow will also go up by about €5 billion. Now, as BMW Brilliance Automotive will own the majority of shares, its Chinese partner Brilliance China Automotive Holdings Ltd., will be retaining the remaining 25%.
It was previously revealed that Munich, Germany headquartered carmaker is expanding its vehicle production in China by adding its X5 models. This unit was previously being imported from the United States, and in the second quarter of this year, BMW Brilliance joint venture, which was founded in 2003, will now make it in the country.
“Today marks an important step, as we continue to expand our long and successful commitment to China. We firmly believe that our continued success in the world’s largest automotive market can only go hand in hand with the growth and further development of our BBA joint venture,” BMW AG’s chairman of the Board of Management, Oliver Zipse, said in a press release.
He added, “The joint venture contract has been extended until 2040 and lays the foundation for sustainable business success, creating growth and prosperity in the province of Liaoning and beyond.”
At any rate, BMW will be investing €3.7 billion or $4.2 billion to acquire the additional 25% stake and take the majority control of its joint venture in Beijing. The company was able to obtain the necessary license for the acquisition, and this is part of the company’s efforts to keep up with and secure its place in the car market worldwide.
