Factbox-China-based EV makers hit with European Union tariffs

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.
BuzzFeed
26 Extremelyyyyyy Useful Industry Hacks That Companies Don't Want Customers To Know
"I've flown round trip to Chicago for $30, Houston for $45, Miami for $50, etc."
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.
GOBankingRates
I’m a Financial Expert: 5 Signs You’re Financially Ready for Retirement in 2024
For many people, retirement may seem like a far-off accomplishment, a glorious place that looms over a distant horizon. However, you might be in a position to close the gap and round the curve into...
Reuters
Italy plans 20 billion euro tank order from Germany's Rheinmetall, reports Handelsblatt
BERLIN (Reuters) -Italy is planning to buy hundreds of tanks from Rheinmetall in what would be the German defence group's biggest ever order, valued at around 20 billion euros ($21.50 billion), the Handelsblatt business daily reported on Wednesday, citing industry sources. According to the plan, the Italian government would buy at least 350 Lynx armoured fighting vehicles and more than 200 Panther main battle tanks in an order spread over a 15-year period, Handelsblatt reported. Rheinmetall did not deny the report when asked for comment and said it would comment in due course.
WSJ
Chinese Imports Are Rising Again. Here’s What It Means for U.S. Jobs
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.
South China Morning Post
Huawei Technologies sells Aito electric vehicle trademark to partner for US$350 million
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
Yahoo Finance
Oil to rise to $90 a barrel this year as tensions in Middle East escalate, says analyst
Rising tensions in the Middle East are adding a premium to oil prices as traders weigh the potential of an interruption to Iran's oil supply.
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.
SmartAsset
How to Master the Last 5 Years Before Retirement
Retirement can seem like a faraway goal until all of a sudden, it's not. When you only have a few years left until you retire, the financial decisions you make take on a new importance. Once you're inside the five-year window, that's a good time to review your plan to make sure you're on track. […] The post How to Master the Last 5 Years Before Retirement appeared first on SmartReads CMS - SmartAsset.
The Telegraph
Top bankers ordered to rein in travel and entertainment expenses
HSBC has warned its top bankers to rein in spending on entertainment and travel as it races to slash costs.
South China Morning Post
Hong Kong professor calls China's crypto mining ban 'unwise', suggests opening up to digital assets
A professor at the Hong Kong University of Science and Technology (HKUST) has questioned the logic of China's cryptocurrency mining ban, suggesting that the government should embrace virtual assets amid geopolitical risks. Completely banning crypto mining in China was "very unwise" as it drove related businesses to the United States, which contributed to US tax income, Wang Yang, vice-president for institutional advancement and chair professor at the Department of Mathematics at HKUST, said duri
Reuters
Polestar posts loss, plans steps to offset tariffs on China-made EVs
STOCKHOLM (Reuters) -Electric vehicle (EV) maker Polestar said it will have to take steps to offset hefty EU and U.S. import tariffs on its Chinese-made electric cars as it posted a first-quarter operating loss on Tuesday. The Swedish company, controlled by China's Geely, makes all its EVs in China, but its new model, the Polestar 3, will be made in the United States from the end of this summer and its Polestar 4 in South Korea from the second half of next year. Until then, it will incur provisional tariffs of 20% for the cars it brings into the European Union under a proposal by the European Commission and more than 100% for the United States.
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
Exxon-Hess arbitration panel nears formation, sources say
The final member has been chosen for a three-person arbitration panel meant to settle Exxon Mobil's claim against Chevron's $53 billion purchase of Hess Corp, two people familiar with the matter told Reuters. The panel's formation would be a milestone in a long-delayed process that has cast uncertainty over the mega-merger, which both Chevron and Hess had hoped would close in the first half of 2024. Exxon filed the arbitration claim with the International Chamber of Commerce (ICC) in March, arguing that it has a right of first refusal over Hess's assets in Guyana.
Investing.com
Oil prices steady amid summer demand hopes, supply risks
Investing.com-- Oil prices steadied in Asian trade on Tuesday after running up sharply in recent sessions as traders bet on increased demand during the Independence Day holiday and potential supply risks from geopolitics and weather-related disruptions.
Reuters
Tipped off: American consumers grapple with tip creep
When Ted Rossman was at Newark Airport in New Jersey the other day, he got a shock along with his sandwich. Rossman, a senior industry analyst for financial information site Bankrate, went to a self-serve kiosk for a snack before a flight, scanned the item himself, and was asked for a tip. Which is why Americans are apparently fed up, according to a new Bankrate survey on the subject.
GOBankingRates
I’m a Lawyer: This Is How Much I Made in My First Job and How Much I Make Now
An entry-level attorney in the United States, according to data from Glassdoor, earns about $88,000 annually. However, when GOBankingRates reached out to those actively practicing law each person we...
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.
Fortune
NEETS are not working by choice—but a ‘perfect storm’ is creating a pool of highly trained and willing workers who are the ‘new unemployables’
A significant chunk of young NEETS are well-qualified and want to work, but just can’t land a job—and may never, new Korn Ferry report warns.

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Factbox-China-based EV makers hit with European Union tariffs

Latest stories

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

26 Extremelyyyyyy Useful Industry Hacks That Companies Don't Want Customers To Know

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

I’m a Financial Expert: 5 Signs You’re Financially Ready for Retirement in 2024

Italy plans 20 billion euro tank order from Germany's Rheinmetall, reports Handelsblatt

Chinese Imports Are Rising Again. Here’s What It Means for U.S. Jobs

Huawei Technologies sells Aito electric vehicle trademark to partner for US$350 million

Oil to rise to $90 a barrel this year as tensions in Middle East escalate, says analyst

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

How to Master the Last 5 Years Before Retirement

Top bankers ordered to rein in travel and entertainment expenses

Hong Kong professor calls China's crypto mining ban 'unwise', suggests opening up to digital assets

Polestar posts loss, plans steps to offset tariffs on China-made EVs

German industry turns to solar in race to cut energy costs

Exxon-Hess arbitration panel nears formation, sources say

Oil prices steady amid summer demand hopes, supply risks

Tipped off: American consumers grapple with tip creep

I’m a Lawyer: This Is How Much I Made in My First Job and How Much I Make Now

Oil prices rise amid Hurricane Beryl concerns, Middle East tensions

NEETS are not working by choice—but a ‘perfect storm’ is creating a pool of highly trained and willing workers who are the ‘new unemployables’