Sandvik wins major order to mine in Southeast Asia

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.
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.
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.
AFP News
Indonesia launches first EV battery plant
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.
Reuters
China leading generative AI patents race, UN report says
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.
The Guardian
‘We’re in limbo’: Boeing takeover leaves longtime Belfast factory under threat
Workers and politicians fear steep job cuts at Northern Ireland’s Spirit AeroSystems, which has about 3,500 workers
AFP News
China's BYD opens EV plant in Thailand despite slowdown, tariff row
China's electric vehicle giant BYD opened a factory in Thailand on Thursday, continuing its international expansion despite a market slowdown and hours before the European Union was due to impose swingeing tariffs on Chinese EV firms.China has led the global shift to electric vehicles, with almost one in three cars on its roads set to be electric by 2030, according to the International Energy Agency's annual Global EV Outlook.
AFP News
EU slaps Chinese electric cars with tariffs of up to 38%
The European Union on Thursday slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of Beijing's "unfair" support, a move that risks escalating tensions with Beijing.- Expected cut to imports - The United States has already hiked customs duties on Chinese electric cars to 100 percent, while Canada is considering similar action.
Reuters
MG, Nio hint at car price increases this year following EU EV tariff decision
Chinese brands MG and Nio suggested on Thursday they might raise prices of their cars in Europe later this year, following the European Union's decision to confirm tariffs on Chinese-imported EVs. The EU will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels' largest trade case yet. Chinese automaker Nio said in a statement it might adjust prices of its cars in Europe as a result of the EU's decision on tariffs.
BBC
EU hits Chinese electric cars with new tariffs
The move poses a challenge to Beijing, which hopes EVs will help revive the country's flagging economy.
GOBankingRates
I’m a Financial Planning Expert: You’re Right About Your Retirement Savings If …
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...
Reuters
Russian firms raise zinc output to meet government demand, sources say
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.
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.
Reuters
Alaska Airlines flight attendants set for 32% average pay rise in new tentative contract
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.
BBC
Bird flu hits McDonald's Australia breakfast hours
The fast food giant is serving its full breakfast menu in the country until 10:30am, instead of midday.
Associated Press
Stock market today: Asian shares are mostly higher after Wall Street hits more records
Shares were mostly higher in Asia on Thursday after Wall Street’s record-breaking rally powered on. Shares fell in Chinese markets but rose in the rest of the region. U.S. futures were nearly unchanged and oil prices fell.
Reuters
Brent crude trades above $87, sets highest levels since April
(Reuters) -Oil prices for Brent crude hit their highest level since April on Thursday, holding above $87 after data the previous day showed a decline in U.S. inventories. Brent crude futures were up 21 cents, or 0.2%, at $87.55 a barrel by 1922 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 18 cents at $84.06 in trade thinned by the U.S. Independence Day holiday.
Euronews
Climate scientists urge responsible use of AI as Google’s emissions soar by 48% since 2019
Scientists have asked individuals to think twice before using AI to generate memes.
GOBankingRates
8 Signs You’ll Retire Wealthy
How do you actually know whether you'll be able to retire early? Here are some signs.
Reuters Videos
China's BYD opens first EV factory in Southeast Asia
STORY: Step inside BYD's first electric vehicle plant in Thailand.It's part of the Chinese automaker's plan to expand in Southeast Asia, where BYD has become the dominant player.BYD CEO and President Wang Chuanfu."We are convinced that Thailand will have a golden development period for new energy vehicles. China and Thailand are geographically close, culturally close, and economic and trade cooperation is booming. New energy vehicles are not only a bridge between China and Thailand to enhance friendship, but also a link between BYD and Thailand."Thailand is a regional auto assembly and export hub.The country aims to convert 30% of its annual production of 2.5 million vehicles into EVs by 2030.Chinese EV makers clearly like the lure of the Thai government's subsidies and tax incentives.They've invested more than $1.4 billion setting up factories in the country, with BYD's new plant the latest addition.The sprawling facility is worth $490 million.And it will have a production capacity of 150,000 vehicles per year, including plug-in hybrids."It will provide over 10,000 jobs after reaching full capacity."As part of its expansion outside China, the world's largest EV maker is also building its first European production base in Hungary.Although BYD could feel some pain in that particular market.The European Commission has imposed tariffs of up to nearly 38% on Chinese-made EVs.

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Sandvik wins major order to mine in Southeast Asia

Latest stories

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

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

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

Indonesia launches first EV battery plant

China leading generative AI patents race, UN report says

‘We’re in limbo’: Boeing takeover leaves longtime Belfast factory under threat

China's BYD opens EV plant in Thailand despite slowdown, tariff row

EU slaps Chinese electric cars with tariffs of up to 38%

MG, Nio hint at car price increases this year following EU EV tariff decision

EU hits Chinese electric cars with new tariffs

I’m a Financial Planning Expert: You’re Right About Your Retirement Savings If …

Russian firms raise zinc output to meet government demand, sources say

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

Alaska Airlines flight attendants set for 32% average pay rise in new tentative contract

Bird flu hits McDonald's Australia breakfast hours

Stock market today: Asian shares are mostly higher after Wall Street hits more records

Brent crude trades above $87, sets highest levels since April

Climate scientists urge responsible use of AI as Google’s emissions soar by 48% since 2019

8 Signs You’ll Retire Wealthy

China's BYD opens first EV factory in Southeast Asia