BEIJING (Reuters) - China will develop more than 50 new national and industrial standards by 2026, the industry ministry said in a statement on Tuesday.
The goal is part of the guidelines the ministry issued on standardising systems for the artificial intelligence sector.
(Reporting by Albee Zhang and Ryan Woo; Editing by Jacqueline Wong)
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.
"I've flown round trip to Chicago for $30, Houston for $45, Miami for $50, etc."
Cheap Chinese goods helped keep inflation low in the early 2000s, but at the cost of U.S. manufacturing. As those imports surge again, here’s what’s changed and what it means for American jobs.
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.
Indonesia launched its first electric vehicle battery plant on Wednesday, President Joko Widodo said, as Southeast Asian countries move to gain a foothold in the emerging industry.The plant is part of a $9.8 billion electric vehicle battery deal signed between Indonesia and LG in 2020.
Huawei Technologies is selling the trademark of electric vehicle (EV) brand Aito to its Chinese carmaking partner Seres, as the Shenzhen-based technology giant moves to enhance its role as a systems and know-how supplier for autos instead of a competitor. Seres, which co-developed the brand with Huawei, said it will pay 2.5 billion yuan (US$343 million) for the trademark and patents of Aito, with the transaction expected to be completed by the end of 2024, according to a filing by the Shanghai-l
China is far ahead of other countries in generative AI inventions like chatbots, filing six times more patents than its closest rival the United States, UN data showed on Wednesday.
Bitcoin miners are showing signs of capitulation, an event that is typically tied to a market bottom following a 13% decline over the past 30-days.
Finding the magic number for your retirement savings is no easy feat. According to a recent survey of over 1,000 Americans conducted by GOBankingRates, more than a third (35.48%) of the respondents...
Russian firms have boosted zinc metal production over the past month to benefit from rising state demand and reduce reliance on China as a destination for material, two sources familiar with the matter told Reuters. Russia's output of zinc used to galvanise steel is a fraction of the global total, but it will add to tightness in the global zinc concentrate market as seen in China's imports. Russia's commodity exports to China soared after Western sanctions were imposed on Moscow for its invasion of Ukraine in Feb. 2022.
The European Union on Thursday slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of "unfair" state subsidies, despite Beijing's warnings the move would unleash a trade war.The United States has already hiked customs duties on Chinese electric cars to 100 percent, while Canada is considering similar action.
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.
The agreement, yet to be ratified by the Associate of Flight Attendants union members, is also the first to make boarding pay legally binding for unionized flight attendants, the union said on Tuesday. Flight attendants in the U.S. are usually paid an hourly rate after the flight cabin doors close and it does not include the time taken to onboard passengers. "With boarding pay, we achieve significant pay increases," the union said.
The fast food giant is serving its full breakfast menu in the country until 10:30am, instead of midday.
As more workers return to the office, they risk getting distracted by coworkers, manager check-ins, and meetings.
(Reuters) -Oil prices fell on Thursday, with investors turning cautious on expectations of lower demand as U.S. employment and business data came in weaker than forecast, signalling the economy of the world's top oil consumer may be cooling. Brent crude futures were down 60 cents, or 0.69%, at $86.74 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 63 cents, or 0.75%, to $83.25 by 0651 GMT, with activity thinned by the U.S. Independence Day holiday. "Geopolitics and weather remain bullish risks, but the underlying physical market strength looks set to turn softer," Citi analysts said in a note to clients, adding that physical markets are trading post-summer September cargoes when demand could soften partly due to hurricane risks.
CEO pay balloons post-pandemic, but shareholders at Salesforce start to check their executives’ compensation.
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.
U.S. job openings rose in May after posting outsized declines in the prior two months, but the trend remained consistent with an easing in labor market conditions that could pave the way for the Federal Reserve to cut interest rates this year. The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Tuesday showed there were 1.22 vacancies for every unemployed person in May, unchanged from April and the lowest vacancy-to-unemployment ratio since 2021. "The data are pointing to an ongoing normalization between supply and demand for labor," said Rubeela Farooqi, chief U.S. economist at High Frequency Economics.
Volvo Cars' sales in June rose 8% to 71,514 cars from a year earlier, underpinned by strong performances in Europe and Latin America as well as for its new fully electric model EX30, the Sweden-based automaker said on Thursday. Volvo Cars, which is majority-owned by China's Geely Holding, said in a statement that sales of fully electric and plug-in hybrid models were up 41%, and also account for 48% of its global car sales. "As June comes to a close, the sales figures for the month are proof of the successful steps we have taken toward our long-term strategic direction and the continued demand for our cars," the company.
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