Airbus deliveries rise 2% in first half, despite supply chain worries

Reuters
German car industry urges EU to drop tariffs on China-made cars
BERLIN (Reuters) -Germany's VDA auto association has urged the European Commission to drop its planned tariffs on China-made electric vehicles in a last-ditch effort to influence negotiations ahead of the tariffs which take effect on Thursday. The association said in a statement on Wednesday the tariffs would hurt European and U.S. carmakers exporting from China and risked retaliation by China with counter-tariffs, which would hit the German industry hard given its high volume of exports to China.
Associated Press
Chinese firms eye Morocco as way to cash in on US electric vehicle subsidies
After the United States passed new subsidies designed to boost domestic electric vehicle production and cut into Beijing’s supply chain dominance, Chinese manufacturers began investing in an unlikely place: Morocco. In the rolling hills near Tangiers and in industrial parks near the Atlantic Ocean, they have announced plans for new factories to make parts for EVs that may qualify for $7,500 credits to car buyers in the United States. Similar investments have been announced in other countries that share free trade agreements with the United States, including South Korea and Mexico.
Reuters
EU takes aim at China's Temu and Shein with proposed import duty, FT reports
The European Commission later this month will suggest scrapping a current 150 euros ($161) threshold under which items can be bought duty free, the report said. Under current EU regulations, packages purchased online from a non-EU country are not subject to customs duties if their value is under 150 euros. Two billion parcels with a declared value of less than 150 euros arrived in the EU from outside countries in 2023, according to the Commission, which says "the sheer volumes of e-commerce are testing customs' limits".
The Telegraph
BMW attacks EU tariffs on Chinese electric car imports
BMW has accused the European Union of protectionism as Brussels prepares to hit imported Chinese electric cars with a wave of tariffs.
BBC
How Microsoft and Nvidia bet correctly to leapfrog Apple
The two tech firms were among the first to see the commercial potential of AI.
Reuters
China EV makers brace for tariffs as Beijing, EU engage in talks
With the clock ticking for the European Commission to impose provisional tariffs on electric vehicles made in China, automakers are bracing for billions of dollars in new costs that analysts expect will slow their European expansion. "The Chinese EV brands' march into Europe will continue on," said Lei Xing, founder of consultancy AutoXing. China and the European Commission have been in negotiations since last week over the curbs that Beijing and some European automakers want scrapped.
Yahoo Finance
Oil prices rise amid Hurricane Beryl concerns, Middle East tensions
Hurricane Beryl is the earliest Category 5 storm on record. It's increasingly threatening to disrupt the oil market.
Oilprice.com
Can the West Afford to Ditch Cheap Chinese Green Tech Imports?
The U.S. and EU are imposing tariffs on Chinese clean energy products to boost domestic industries, but experts warn this could slow the global green transition and increase consumer costs.
Oilprice.com
China Sets Out To Develop More Local Oil, Gas
A new Chinese umbrella company grouping all the state majors will drill for ultradeep oil and gas, and explore shale formations in China.
Reuters
Hyundai Motor, LG Energy Solution launch Indonesia's first EV battery plant
JAKARTA (Reuters) -South Korea's Hyundai Motor Group and LG Energy Solution (LGES) on Wednesday inaugurated Indonesia's first battery cell production plant for electric vehicles with an annual capacity of 10 Gigawatt hours (GWh) of battery cells. The plant is part of a commitment by Hyundai Motor and LGES to invest up to $9.8 billion in Southeast Asia's largest economy to develop an EV supply chain, the Indonesian government said, to benefit from rich resources of nickel and copper.
Reuters
Berlin to block sale of MAN Energy Solution's gas turbine unit to China, sources say
BERLIN (Reuters) -Germany will block the planned sale of Volkswagen subsidiary MAN Energy Solutions' gas turbine division to a Chinese company, three people familiar with the matter told Reuters on Tuesday. GHGT belongs to the China State Shipbuilding Corporation (CSSC), which dominates the Chinese shipbuilding industry. MAN Energy Solutions said last September that the German government would take a closer look at the planned sale to Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT), which was first announced in June 2023 at an undisclosed price.
South China Morning Post
Chinese e-commerce giant JD.com pursues budget-minded consumers in slow economy
China's e-commerce giant JD.com is said to be doubling down on its budget shopping platform Jingxi in its latest move to win consumers in the "sink" market, made up mostly of small towns where shoppers have limited spending power, amid fierce competition with rivals such as PDD Holdings. Borrowing a page from PDD's playbook, JD.com is taking full control over Jingxi's operation, logistics and after-sales services in what is known as a "whole custodian" model, hoping to better serve price-sensiti
Reuters
Nippon Steel's Mori to visit US again next week for talks on US Steel takeover
Nippon Steel's vice chairman plans to return to the United States next week again to discuss its proposed acquisition of U.S. Steel, a company spokesperson said on Wednesday. The planned visit by Takahiro Mori, the Japanese firm's key negotiator for the deal, follows trips to the U.S. in May and June, highlighting the importance of the $15 billion takeover offer to the world's No. 4 steelmaker. U.S. Steel's management has backed the bid but the deal faces resistance from the White House and the powerful United Steelworkers (USW) union.
Reuters
German industry turns to solar in race to cut energy costs
For months, Philip Matthias tried to convince his father to install solar panels on their company's roof in the eastern German state of Thuringia, aiming to cut electricity costs and carbon emissions at the metal products factory. Since the war in Ukraine and the sudden drop in Russia fossil fuel exports to Germany, Berlin has introduced laws to accelerate solar power expansion, part of its plan to cover 80% of the country's energy from renewables by 2030. Encouraged by a feed-in tariff providing a guaranteed price to renewable energy producers selling their power, as well as reduced solar panel costs, German companies are increasingly turning to solar to get around high energy costs.
Reuters
Factbox-EU report details widespread Chinese interference in economy
In the run up to announcing provisional tariffs on Chinese-made electric vehicles, the European Commission in April released a 712-page report on the many layers of subsidies it argues the Chinese government provides to domestic firms. The report is designed for anti-dumping cases, but trade experts see it as a supporting document for its anti-subsidy investigation into EVs and as a signal to both China and reluctant European Union member states that it means business. The Chinese government funnels both indirect and direct support to state-owned enterprises, or ones it effectively controls even with minority ownership.
Simply Wall St.
Exploring Three Undervalued Small Caps With Insider Action In The Region
In a week marked by modest gains across major U.S. stock indexes and a notable performance uplift in small-cap companies, the investment landscape appears cautiously optimistic as investors await more definitive cues from upcoming quarterly earnings reports. Amid these conditions, exploring undervalued small caps with recent insider action might reveal potential opportunities for those looking to diversify their portfolios in this segment of the market.
Benzinga
BYD Set To Surpass Tesla In BEV Sales By 2024 As China Leads Global Market Growth: Report
BYD Co., Ltd. (OTC:BYDDY) is reportedly poised to significantly increase its market share in the battery electric vehicle (BEV) sector in 2024, surpassing Tesla, Inc. (NASDAQ:TSLA) in sales. This highlights the evolving dynamics of the global EV market. According to a Counterpoint Research report, China continues to lead the BEV market, with projections indicating its sales will quadruple those of North America by 2024. BYD reported a 21% increase in electric vehicle sales for the second quarter
Simply Wall St.
Top 3 Dividend Stocks In Hong Kong For July 2024
As global markets navigate through fluctuating conditions, the Hong Kong stock market has shown resilience, making it an intriguing area for investors looking for dividend yields. Amidst this backdrop, identifying stocks that consistently offer dividends can provide a semblance of stability and potential income in uncertain times.
Reuters
Oil prices rise on deep weekly draw in US crude inventories
NEW YORK (Reuters) -Oil prices gained about 1% on Wednesday after a larger-than-expected decline in U.S. crude stocks, but gains were capped by concerns about rising global inventories in thin trading ahead of the U.S. Independence Day holiday. Brent crude futures rose $1.10, or 1.3%, to settle at $87.34 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained $1.07, or 1.3%, to $83.88.
South China Morning Post
Tesla holds on to crown as world's top pure EV maker but BYD draws closer in title race
Tesla retained its title as the world's largest pure electric vehicle (EV) maker after beating sales forecasts for the April to June period but its lead over its competitors is narrowing as Chinese manufacturers launch an array of models at cheaper prices. The Austin, Texas-based company delivered 443,956 vehicles to customers during the quarter, beating a median forecast of 439,302 units in a Bloomberg survey of analysts, edging out BYD, backed by Warren Buffett's Berkshire Hathaway, which chur

Straits Times Index

S&P 500

Dow

Nasdaq

Bitcoin USD

CMC Crypto 200

FTSE 100

Gold

Crude Oil

10-Yr Bond

Nikkei

Hang Seng

FTSE Bursa Malaysia

Jakarta Composite Index

PSE Index

Airbus deliveries rise 2% in first half, despite supply chain worries

Latest stories

German car industry urges EU to drop tariffs on China-made cars

Chinese firms eye Morocco as way to cash in on US electric vehicle subsidies

EU takes aim at China's Temu and Shein with proposed import duty, FT reports

BMW attacks EU tariffs on Chinese electric car imports

How Microsoft and Nvidia bet correctly to leapfrog Apple

China EV makers brace for tariffs as Beijing, EU engage in talks

Oil prices rise amid Hurricane Beryl concerns, Middle East tensions

Can the West Afford to Ditch Cheap Chinese Green Tech Imports?

China Sets Out To Develop More Local Oil, Gas

Hyundai Motor, LG Energy Solution launch Indonesia's first EV battery plant

Berlin to block sale of MAN Energy Solution's gas turbine unit to China, sources say

Chinese e-commerce giant JD.com pursues budget-minded consumers in slow economy

Nippon Steel's Mori to visit US again next week for talks on US Steel takeover

German industry turns to solar in race to cut energy costs

Factbox-EU report details widespread Chinese interference in economy

Exploring Three Undervalued Small Caps With Insider Action In The Region

BYD Set To Surpass Tesla In BEV Sales By 2024 As China Leads Global Market Growth: Report

Top 3 Dividend Stocks In Hong Kong For July 2024

Oil prices rise on deep weekly draw in US crude inventories

Tesla holds on to crown as world's top pure EV maker but BYD draws closer in title race