Daily Buzz: 10 April 2026

Israel Remains Defiant on Lebanon War but Plan Talks With Beirut

"There is no ceasefire in Lebanon," Israeli Prime Minister Benjamin Netanyahu defiantly declared in an online video post as global leaders stepped up calls to end attacks on his northern neighbor and after US President Donald Trump told him to tone down the rhetoric. Netanyahu has refused to acknowledge that Lebanon is part of the two-week ceasefire agreed to by Iran and the US. Iran has said it won't fully reopen the Strait of Hormuz if Israel continues attacks on Hezbollah, a Lebanese ally. Pakistan, which brokered the truce, said Lebanon is included in its terms. In a blitz of attacks this week that have been bloodiest to date in the Lebanon war, Israel killed more than 300 people.

The US said it will host talks between Israel and the Lebanese government in Washington next week, which are expected to focus on disarming Hezbollah. However, Middle East analysts hold little hope for success. Lebanon's shaky government coalition, comprised of Maronite Christians, Sunni Muslims and Shia Muslims like Hezbollah, is politically and militarily weak and holds little sway over Hezbollah operations. However, Israel's agreement to negotiate with Beirut provided a small measure of hope to Wall Street investors. Stock markets posted modest gains, and oil prices settled below US$100 a barrel after earlier surging back above that key level.

Trump told NBC News that he is "optimistic" about the prospects of a peace deal with Iran as talks between Washington and Tehran are due to start this weekend in Pakistan. He also warned Iran not to try to charge tolls for vessels that transit the Strait of Hormuz. The rhetoric from Iran was less conciliatory. New supreme leader Mojtaba Khamenei, who has yet to be seen in public, said in a statement that Iran will avenge the assassination of his father and take management of the Strait of Hormuz "into new phase."

Trump Rails Against NATO – Again

US President Donald Trump returned to one of his favorite punching bags, criticizing NATO members for not joining the war against Iran and promoting his desire to take over Greenland, an issue opposed by other NATO nations. NATO Secretary-General Mark Rutte, after what he called a "frank" two-hour meeting with Trump in Washington, told CNN, "He is clearly disappointed with many NATO allies." However, he characterized the talks as a "discussion between two friends." After the meeting, Trump posted on social media, "NATO wasn't there when we needed them, and they won't be there if we need them again." Trump has threatened to pull the US, the biggest financial contributor to the alliance, out of NATO.

UK Accuses Russian Subs of Nefarious Activities

British Defense Secretary John Healy said Britain, Norway and other unidentified countries conducted a weeks-long operation to deter Russian spy submarines near undersea cables in the North Atlantic. He said a Royal Navy frigate, aircraft and hundreds of personnel were involved in tracking a Russian attack sub and two spy submarines operating near UK and Norway shores. The Russian vessels eventually retreated. Healy warned that any attempt to interfere with communications cables or pipelines will have serious consequences. "We will not take our eyes off Putin," he said, referring to the Russian president.

Top Business

China's Big Investment in Power System Gains Pace

State Grid and Southern Power Grid, China's two largest power distributors, invested a combined 167.5 billion yuan (US$24.5 billion) in the nation's energy grid in the first quarter. China's power grid investment is entering a historic peak period. State Grid previously announced that its total fixed-asset investment is expected to reach 4 trillion yuan in 2026-30, a 40 percent increase on the previous five years. Over the same period, China Southern Power Grid's fixed-asset investment is projected to approach 1 trillion yuan. The two companies are focusing investment on ultra-high voltage transmission, smart distribution networks, energy storage and coordination between power grids and computing infrastructure. The companies are also supporting green technologies and China's transition to low-carbon energy. China's massive investment in energy infrastructure has made it a global leader in providing the capacity needed to run power-hungry AI data centers.

Everest Medicines to Take Over Singapore Pharma Firm

Shanghai-based Everest Medicines agreed to spend US$250 million to acquire a Singapore company holding rights to 14 chronic-disease treatments across the Asia-Pacific region, the South China Morning Post reported, citing a Hong Kong stock exchange filing. Everest's Singapore unit will acquire 100 per cent of Hasten Biopharmaceuticals, which is focused on cardiovascular, renal and metabolic diseases. Everest said the acquisition would support the expansion of its drug marketing beyond Chinese mainland. Separately, Chinese drugmakers in the first three months of this year issued a record US$60 billion in licenses to multinational pharma companies, according to the National Medical Products Administration. China is aiming to become a world leader in pharmaceuticals, with its drug-development pipeline attracting wider foreign interest.

Bridgewater's Founder Meets Chinese Officials

Ray Dalio, founder of Bridgewater Associates, the world's largest hedge fund, met Shanghai Party Secretary Chen Jining during a visit to China. Dalio recently wrote about global debt cycles and realignment, stressing the need for continued engagement between the world's two largest economies. Dalio also met Vice Premier He Lifeng in Beijing during the visit. In a December letter to investors, All Weather Plus, the firm's Shanghai-based private fund management arm, expressed "moderate optimism" toward Chinese stocks in 2026, citing expectations of improved corporate profit. Globally, Bridgewater has about US$78 billion of assets under management.

Crispy Chicken With an Added Charge

Chinese auto giant BYD said it is partnering with fast-food chain KFC to offer drivers of its electric vehicles a one-stop, nine-minute food + refueling service, Bloomberg reported. Under the deal, the nation's largest maker of electric autos and Yum China, which owns the KFC brand in China, will develop drive-thru services across China that allow motorists to stop for a meal while recharging their car batteries. The system will use BYD's second-generation Blade battery, which the company unveiled in March and advertised as achieving a 97 percent charge in nine minutes. The service will also allow drivers to place orders for KFC meals from the car's computer system and will display where KFC outlets are along a motorists' routes. BYD, which reported its first profit decline in four years for 2025, has mounted a campaign to retain its market dominance amid stiff domestic competition.

Economy & Markets

Economists Flag Higher Growth for First Quarter

An Yicai poll of chief economists in China predicts 4.8 percent growth in gross domestic product for the first quarter, up from 4.5 percent growth in the last quarter of 2025. They are forecasting 4.7 growth for 2026. The figures are broadly in line with forecasts from major global investment banks. The Chinese poll of economists also points to a 1.2 percent rise in consumer prices in March from a year earlier, with producer prices gaining 0.4 percent. Retail sales are forecast to climb 2.5 percent. The data are due to be released on April 15.

Tourist Spending Rises 6.6 Percent During Qingming Festival

Chinese tourists spent 61.4 billion yuan (US$9 billion) during the recent three-day Qingming Festival holiday, a 6.6 percent increase from a year earlier. Domestic trips rose 6.8 percent to 135 million, according to the Ministry of Culture and Tourism. Qingming, also called the Tomb Sweeping holiday, is held every spring to honor ancestors.

Shanghai Disneyland Deemed Most Successful in World

Shanghai Disneyland has had 100 million visitors since it opened in mid-2016, making it the world's most successful theme park, according to a report from the China Center for International Economic Exchanges. The park, located in Pudong and run in a joint venture with Shanghai Shendi Group, has eight themed areas.

Corporate

Tesla Reportedly Plans Smaller, Cheaper SUV

US electric carmaker Tesla, which operates a mega-factory in Shanghai, denied the Reuters report that it is developing a smaller, cheaper electric SUV. Reuters, citing four people familiar with the matter, said the compact SUV, which would be a new vehicle, not a variation of the current Model 3 or Y, would be manufactured in Shanghai and deploy a smaller battery, reducing driving range. The vehicle will be about 4.28 meters in length and be priced substantially lower price than the entry-level Model 3 sedan, which starts at US$34,000 in China and about US$37,000 in the US.

TikTok Expands EU Data Push

ByteDance platform TikTok will invest 1 billion euros (US$1.2 billion) to build a second data center in Finland, as part of its broader 12 billion euro "data sovereignty" plan in Europe. The move aims to localize data storage for over 200 million European users amid tightening regulatory scrutiny. Finland's low-cost, low-carbon energy and cool climate continue to attract tech giants, though the project still faces political concerns over transparency and security. The facility is expected to go live by 2027.

Stellantis, Leapmotor Said Near a Deal on New Opel SUV

French-Italian auto giant Stellantis is in talks with China's Leapmotor to jointly develop a new Opel-branded electric SUV using the Chinese automaker's technology and the Stellantis production plant in Spain, Reuters reported. If the deal is finalized, production of the new Opel model would start in 2028. The partnership would help Stellantis cut the cost and time to develop a new electric vehicle and address competition from BYD and other Chinese brands in the European market. The Opel brand comprised about a fifth of Stellantis sales in Europe last year, with Germany the prime market.

Tencent Cloud Raises AI Prices

Tencent Cloud will raise prices by 5 percent on AI compute services and Elastic MapReduce, starting May 9, marking its second hike in a month. The move reflects surging AI demand and rising hardware costs. The adjustment completes a full-stack repricing, from models to infrastructure, aligning with industry peers like AWS, Alibaba Cloud and Baidu.

CATL Links Up With City Transport Group

Contemporary Amperex Technology (CATL), the world's biggest battery maker for electric vehicles, formed a partnership with Guangzhou Public Transport Group on battery supply, recycling, swapping, electric ships and low-flying unmanned aircraft. CATL said it has already supplied 1,500 electric buses to the group and built six battery-swamp stations in the southern Chinese city.

D-Robotics Raises US$150 in Funding Round

Robotic chip maker D-Robotics raised US$150 million in a financing round, following a US$120 round last May. The latest investors included Didi Global, Prosperity 7 Ventures and Vertex Growth. D-Robotics, which was spun off from autonomous driving chip developer Horizon Robotics in January 2024, supplies hardware and software infrastructure for consumer robots and embodied AI applications.

Windrose Makes First Electric Truck Delivery in US

Chinese electric truck startup Windrose made the ‌first delivery of its longhaul electric heavy truck in the US, Reuters reported. The vehicle, priced at US$285,000 was handed over to Texas logistics firm Allogic and charging partner Greenspace through Windrose's American partner. Windrose, which has a plant in Suzhou and recently moved its headquarters to Antwerp from the Chinese city of Hefei, is considered a rival to Tesla trucks. The company is seeking to expand overseas, with vehicle certifications secured across Asia, Europe and the Americas.

ZTO Takes Flight in Air Cargo

ZTO Express has launched its first widebody freighter, marking its entry into long-haul air cargo with a China-Europe route. The move aligns with booming cross-border e-commerce demand and rising freight rates, as geopolitical disruptions reshape global logistics flows. Backed by its large domestic logistics network, ZTO aims to build a global air network and join peers like SF Express and JD Logistics in pushing upstream into aviation.