Chinese industry officials have revealed that European Union tariffs on Chinese electric vehicle exports have decreased export growth from 20% up to 30%. Namely, export growth increase has decreased from 30-40% down to 10%.
The energy giant Shell has announced that it is set to take up impairment charges of up to $2 billion due to sale and shut down of plants.
In May, the household spending in Japan has unexpectedly declined by 1.8% instead of the forecast growth of 0.1%. The new data is set to impact Bank of Japan's upcoming rate decision.
Government of Canada has announced that it would allow Glencore to take over the coal unit of Teck Resources, if the firm agrees to preserve jobs.
New York Times has reported that OpenAI experienced a breech on its internal messaging systems, which resulted in theft of details about the firm's AI design.
The Australian federal court has revealed that PayPal has used unfair terms in standard contracts with small businesses.
At the World AI Conference in China, various firms have shown off technology that the country has managed to circumvent US sanctions on AI tech.
The world's largest electronics producer Foxconn has reported higher than forecast second quarter revenues. Moreover, the firm expects to continue to grow.
The price for Bitcoin has experienced one of the worst weeks in a year due to suspected dumping from the Japanese Exchange Mt. Gox and leveraged market participants.
The Wall Street Journal has reported that Brigade Capital Management and Arkhouse Management have increased their bid for Macy's by nearly 6.9$ billion.
In June the sales of Volvo cars increased due to a boost from new electric model sales. The new EX30 SUV has caused an 8% increase in sales.
Telecoms firm Ericsson has received another one billion dollar charge for the acquisition of Vonage in 2021. The news of more costs caused a decline of the firm's stock price.
The CEO of the German airline Lufthansa has revealed that the company would consider increased the firms stake in ITA Airways to 90%.
In June, foreign investors have been investing in the Chinese markets. The flow of funds has been attributed to expectations of a US Federal Reserve rate cut, which would make US investments less profitable.
An estimate of 27 analysts from LSEG SmartEstimate has been published and revealed that the profit of Samsung Electronics is set to have increased 13-fold to $6.35 billion. The surge has been attributed to the AI frenzy.
Nikkei has reported that Nissan and Honda are set to work together on EV charging infrastructure and software.
Reuters has published the opinion of a think tank that Japan could experience a shortage of workers of at least one million by 2040.
The United Nations have reported that Chinese firms have been leading in the race for registering generative artificial intelligence patents. China has reportedly filed for six times more patents than the closest rival the United States.
The fund network Calastone has reported that UK investors have bought additional 11.4 billion GBP in equity funds in the first half of 2024.
Hyundai Motor Group and LG Energy Solution have opened up a new electric vehicle plant in Indonesia.
Market data indicates that the financial world has started to focus on US Presidential Election instead of the US Federal Reserve monetary policy.
The US Bureau of Labor Statistics has just released the US monthly employment data. In general, the data shows a mixed job environment. The US Dollar is reacting to the news by an initial spike up and then starting a decline.
The Handelsblatt has reported that the Italian government intends to order 350 infantry fighting vehicles and 200 main battle tanks from Rheinmetall. The order is set to amount to 20 billion Euros.
The Swiss banking group Credit Suisse has received a fine from South Korean authorities. The bank has been fined for illegal equity short selling.