Increasing 2024 full-year guidance

The Telegraph
Electric car sales tumble across Europe as demand plummets in Germany
Sales of electric vehicles (EVs) plunged across Europe last month, fuelled by a sharp drop-off in demand in Germany.
Reuters
Analysis-China's dumping probe to test resilience of Spain's pig farmers
MADRID (Reuters) -China's dumping probe into EU pork imports following duties slapped on Chinese EVs caught Spain's pig farmers on the hop this week, but the sector has shown it is resilient and is far less vulnerable than the bloc's car industry. Spain supplied 22% of China's imported pork in 2023, worth 1.2 billion euros ($1.29 billion), and stands to lose more than any of the bloc's members from the probe into underpriced pork after the EU took aim at China's subsidised electric vehicle imports last week. "It was like a shock of cold water, we didn't expect it," said Giuseppe Aloisio, general director of the National Association of Spanish Meat Industries (ANICE).
Reuters
Chinese automakers seek retaliatory tariffs on EU cars, state media reports
SHANGHAI/BEIJING/BERLIN (Reuters) -Chinese automakers have urged Beijing to hike tariffs on imported European gasoline-powered cars in retaliation for Brussels' curbs on exports of Chinese-made EVs, the state-backed Global Times newspaper said on Wednesday. In a closed-door meeting on Tuesday also attended by European car companies, China's auto industry "called on the government to adopt firm countermeasures (and) suggested that positive consideration be given to raising the provisional tariff on gasoline cars with large-displacement engines," according to the report. The meeting, organised by China's Ministry of Commerce, was held in Beijing and attended by SAIC, BYD , BMW, Volkswagen and its Porsche division, two people with direct knowledge of the matter said.
Simply Wall St.
SGX Dividend Stocks Spotlight Featuring Aztech Global And Two Others
Amidst the evolving landscape of digital currencies and the heightened focus on wholesale central bank digital currencies (CBDCs), Singapore's market is poised to reflect these global financial shifts. As investors navigate this changing terrain, dividend stocks like Aztech Global continue to draw attention for their potential stability and yield in a dynamic economic environment.
Reuters
India raises crop prices as Modi tries to win over farmers
India on Wednesday raised the government-mandated price for summer-sown crops such as rice, soybean and cotton as Prime Minister Narendra Modi looks to woo millions of farmers ahead of key state elections later this year. The country announces support prices for more than a dozen crops each year to set a benchmark. India has raised the price at which it will buy new-season common rice paddy from farmers by 5.4% to 2,300 rupees ($27.57) per 100 kg, the information minister Ashwini Vaishnaw said on Wednesday after a cabinet meeting chaired by Modi.
Reuters
Detroit Three automakers should exit China, leading analyst says
Legacy U.S. automakers such as Ford Motor and General Motors should leave the China market to preserve capital amid the costly electric vehicle (EV) transition, a leading auto analyst said on Tuesday. “I think you have to see the [Detroit Three] exit China as soon as they possibly can,” said John Murphy, Bank of America Securities analyst, at his annual presentation of “Car Wars,” a closely watched industry report. Murphy's guidance for the Big Three came during a discussion of the harsh cost-cutting measures they would have to take to be competitive with EV manufacturers like Tesla, as well as carmakers abroad.
The Edge Singapore
Food Empire clarifies reports on its purported plans to build new instant coffee factory in central Vietnam
Shares in Food Empire closed flat at $1.01 on June 19.
Reuters
Brazil's CBMM starts testing ultra-fast charging batteries in Volkswagen bus
Brazilian miner CBMM has started to test on Volkswagen electric trucks a niobium-based battery that it claims can be charged way faster than the others in the market, the companies said on Wednesday. CBMM, backed by Brazilian billionaire family Moreira Salles, which also runs lender Itau Unibanco, hopes the project could help it reach its target of multiplying nearly ninefold its battery unit revenue, to $100 million by 2026, its executives told Reuters. The company sells niobium products to steelmakers as its main business, but CBMM has been looking to diversify its revenue sources.
Oilprice.com
Europe Aims to Reduce Reliance on China for Critical Minerals
Europe is intensifying its efforts to explore and develop rare earth metals production within its borders, aiming to reduce reliance on China and enhance energy security during the green transition.
Reuters
EU subsidy probe cools China EV sector's will to invest in Europe, survey finds
The European Union's anti-subsidy investigation into Chinese electric vehicles has cooled Chinese firms' EV sales and harmed their confidence in investing in Europe, a survey of Chinese EV companies showed on Wednesday. Some 82% of vehicle and industry chain firms said the subsidy investigation had eroded their confidence in investing in Europe in the near future, the survey by the China Chamber of Commerce to the EU and the China Economic Information Service showed. The poll, conducted in April and May, was part of a report on Chinese EV manufacturers and Europe.
South China Morning Post
Chinese EV makers, suppliers risk dent to global stature in price war, Bosch exec warns
German automotive supplier Bosch has issued a stern warning to Chinese electric vehicle (EV) makers that an escalating price war would not only hurt their profitability but also dent their stature as global industry leaders. David Xu Daquan, president of Bosch China, told reporters at a media briefing on Tuesday that he had made a proposal to Chinese President Xi Jinping to create a fair and orderly market-based mechanism to avoid cutthroat competition among the country's carmakers and supply-ch
South China Morning Post
Hong Kong's WeLab eyes Southeast Asia digital banks, exporting tech services as new growth engines
WeLab, a Hong Kong-based fintech unicorn backed by billionaire Li Ka-shing, is exploring the idea of setting up digital banks across Southeast Asia and providing its technology services to conglomerates in Malaysia, Vietnam, Thailand and the Philippines. The expansion plan forms part of the target the company set last year to grow its users to 500 million by 2032, according to founder Simon Loong. "WeLab is actively exploring different opportunities in Southeast Asia markets by applying for new
Euronews
French farmers worry pork exports will suffer in EU-China row over customs
An anti-dumping investigation into imports of pork products is at the heart of a trade tug-of-war between Europe and China
The Telegraph
The angry mothers who could topple Netanyahu
The first time Eliran Mizrahi was injured in Gaza, he refused to leave the battlefield. The reservist wanted to continue defending his country and the search for the missing hostages.
The Independent
A father caught a ride share driver assaulting his daughter. He took matters into his own hands
Her father tracked her phone to a well-known fishing spot
Cinema Online
Claire Yiu and Thomas Lam called it quits on marriage
The TVB actress and former ATV actor were together for 18 years prior to the divorce
Bloomberg
Singapore housing site gets no bids for first time in 20 years
Singapore’s cooling property market suffered a blow after a housing site put up for sale by the government failed to attract any interest from developers for the first time in more than two decades.
Reuters
Philippine VP Duterte exits Marcos cabinet as their alliance crumbles
MANILA (Reuters) -Philippine Vice President Sara Duterte resigned on Wednesday from the cabinet of President Ferdinand Marcos Jr. and another key post, not a surprise move given that her alliance with Marcos had long been expected to collapse. Marcos has accepted Duterte's resignation from the posts of education minister and vice chair of an anti-insurgency task force, Presidential Communications Secretary Cheloy Garafil said in a statement, adding that no reasons were given by her for stepping down. Duterte, who will remain vice president, said in a press conference that her "resignation is not because of weakness but because of true concern for teachers and the youth."
The Independent
Putin and Kim Jong-un exchange gifts including luxury limousine and hunting dogs
Putin showers Kim with gifts after inking mutual defence pact
Hello!
Duchess Sophie’s new figure-hugging dress is so va va voom
Sophie, Duchess of Edinburgh looked amazing at an event at the Peninsula London with Prince Edward, wearing a new Roland Mouret dress and high heels.

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Increasing 2024 full-year guidance

Latest stories

Electric car sales tumble across Europe as demand plummets in Germany

Analysis-China's dumping probe to test resilience of Spain's pig farmers

Chinese automakers seek retaliatory tariffs on EU cars, state media reports

SGX Dividend Stocks Spotlight Featuring Aztech Global And Two Others

India raises crop prices as Modi tries to win over farmers

Detroit Three automakers should exit China, leading analyst says

Food Empire clarifies reports on its purported plans to build new instant coffee factory in central Vietnam

Brazil's CBMM starts testing ultra-fast charging batteries in Volkswagen bus

Europe Aims to Reduce Reliance on China for Critical Minerals

EU subsidy probe cools China EV sector's will to invest in Europe, survey finds

Chinese EV makers, suppliers risk dent to global stature in price war, Bosch exec warns

Hong Kong's WeLab eyes Southeast Asia digital banks, exporting tech services as new growth engines

French farmers worry pork exports will suffer in EU-China row over customs

The angry mothers who could topple Netanyahu

A father caught a ride share driver assaulting his daughter. He took matters into his own hands

Claire Yiu and Thomas Lam called it quits on marriage

Singapore housing site gets no bids for first time in 20 years

Philippine VP Duterte exits Marcos cabinet as their alliance crumbles

Putin and Kim Jong-un exchange gifts including luxury limousine and hunting dogs

Duchess Sophie’s new figure-hugging dress is so va va voom