Shares of Evergrande EV unit slide 27% after it warns of losing assets

Bloomberg
Farm robots help plug worker shortage in Malaysian palm oil
Malaysia's top palm growers hope automation will take over the sector’s most difficult and dirty jobs, plugging chronic worker shortages that have disrupted global supplies.
Reuters
Russia's pipeline gas exports to Europe jump in June from last year
Russian energy giant Gazprom's average daily natural gas supplies to Europe jumped by almost 23% in June from a year earlier, rebounding from last year's post-Soviet lows, although they fell 8.6% from May, Reuters calculations showed on Tuesday. Exports were lower last month than in the previous month amid planned maintenance at the TurkStream undersea pipeline on June 6-9. The calculations, based on data from the European gas transmission group Entsog and Gazprom's daily reports on gas transit via Ukraine, showed that average daily pipeline exports decreased to 81.8 million cubic metres (mcm) last month from 89.5 mcm in May, but they were up from the 66.8 mcm in June 2023.
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
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.
Investing.com
Bitcoin mining stocks rally in June amid AI frenzy - JPMorgan
Bitcoin mining stocks outperformed the underlying cryptocurrency in June, driven by excitement around AI data centers, the value of power access, and a decline in network hashrate. According to a note from JPMorgan, dated Monday, these factors contributed to a 19% sequential increase in the aggregate market cap of 14 U.S.-listed bitcoin miners, which reached $22 billion. Despite an overall decline, the average Bitcoin price in June hovered around $66,000, up merely 1% from May. However, it exited the month lower at a $61,200 seven-day rolling average, an 11% decrease from the previous month's figure.
Insider Monkey
Is EnerSys (ENS) the Best Lithium and Battery Stock to Buy Now?
We recently compiled a list of the 10 Best Lithium and Battery Stocks to Buy Now. In this article, we are going to take a look at where EnerSys (NYSE:ENS) stands against the other lithium and battery stocks. The pivotal role that lithium is playing in the market of batteries, solar panels, and chemicals has […]
Zacks
U.S. EV Battery Plants to Spark a New Era in E-Mobility
Read on to know about the battery production investments currently underway in the United States by major automakers including TSLA, GM, F, TM and STLA.
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.
Simply Wall St.
Top Three Chinese Dividend Stocks In June 2024
As of June 2024, the Chinese stock market has shown signs of weakening, with major indices like the Shanghai Composite and the CSI 300 experiencing slight declines amid economic slowdown concerns. This backdrop sets a cautious stage for investors looking at dividend-paying stocks in China. In such an environment, selecting strong dividend stocks often hinges on finding companies with robust fundamentals that can sustain payouts even during economic uncertainties.
Zacks
Cheesecake Factory (CAKE) Outruns Industry: Up 14% in 6 Months
Cheesecake Factory (CAKE) continues to benefit from increased consumer demand and the opening of new restaurants.
Yahoo Finance Video
Meta stock dips after allegedly breaching EU antitrust rules
Shares of Meta (META) are dipping after European Union regulators issued a preliminary finding accusing the company of violating the Digital Markets Act. The antitrust issue in question is the company's recently introduced ad-supported social networking service. Yahoo Finance Reporter Dan Howley joins Catalysts to analyze the European regulatory agency's preliminary finding and what it means for Meta moving forward. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Nicholas Jacobino
Reuters Videos
Spirit Aero to be broken up in $4.7 bln Boeing deal
STORY: Boeing said Monday it will buy its supplier Spirit Aerosystems for $4.7 billion.The U.S. planemaker moved after a crisis caused by a mid-air blowout on a 737 MAX jet led to questions over quality.Boeing rival Airbus has also agreed to take on the supplier's loss-making Europe-focused activities, in return for hundreds of millions of dollars of compensation.Boeing spun off Spirit in 2005, and has long considered a buyback.The decision to go ahead now comes as the aerospace giant tries to resolve a crisis at one of the industry's key suppliers.January's blowout incident involved a door plug made by Spirit, and contributed to a major slowdown in output at Boeing.The planemaker announced the planned departure of CEO Dave Calhoun in the wake of the crisis.Now the deal is due to close around midway through next year, and is seen as an effort to address its safety problems and shore up its production line.Airbus is also a Spirit customer, and didn't want arch-rival Boeing building parts for its latest jets. It has now confirmed it will take over core activities at four of the supplier's plants to avoid that.Sources said the move was loosely coordinated between the three companies. Airbus said it would receive $559 million in compensation from Spirit, depending on the final outlines of the deal.
Fortune
David meets Goliath: Japan and Korea make startups work with large conglomerates in a twist on the Silicon Valley model
Japan and South Korea believe that startups and large conglomerates work better when they work together.
Insider Monkey
Are Hedge Funds Bullish on Sigma Lithium Corporation (SGML)?
We recently compiled a list of the 10 Best Lithium and Battery Stocks to Buy Now. In this article, we are going to take a look at where Sigma Lithium Corporation (NASDAQ:SGML) stands against the other lithium and battery stocks. The pivotal role that lithium is playing in the market of batteries, solar panels, and […]
Investing.com
Oil prices settle higher on demand hopes ahead of fresh US inventory data
Investing.com-- Oil prices settled higher Monday, benefiting from stronger-than-expected Chinese manufacturing activity data, suggesting a recovery in the world’s second-largest economy and major crude importer.
Reuters
Malaysia's Sabah state to develop oil, gas facilities with Gibson Shipbrokers
London-based Gibson Shipbrokers Ltd and Malaysian state-owned Sabah Oil & Gas Development Corporation (SOGDC) have signed an agreement to develop oil and gas facilities in the Southeast Asian nation's Sabah state. The oil and gas facilities will be developed at the Sipitang Oil and Gas Industrial Park in Sabah, and will include the construction of a jetty, onshore hydrocarbon storage terminals and a floating power plant, according to a statement from Gibson Shipbrokers. In 2022, the Sabah state government and state energy firm Petronas launched a gas masterplan to further develop the domestic gas industry.
South China Morning Post
China to buy another African mine as it elbows in to lead global green energy revolution
Chinese companies are ramping up their acquisition of major copper, cobalt and lithium mining projects in Africa, dominating the critical minerals market, as Beijing positions itself to lead the global green energy transition. In one of the most recent investments, Chinese firm JCHX Mining Management is close to finalising a deal to buy Zambia's Lubambe copper mine. The deal, which is awaiting approval from the Zambian authorities, would see the Shanghai-listed mining services and contracting fi
Evening Standard
'Misstiano Penaldo': John Terry brands BBC 'a disgrace' for dig at crying Cristiano Ronaldo over penalty miss
BBC coverage of the Euro 2024 did not go down well with the former Chelsea captain
Bloomberg
China’s AI startups head to Singapore in a bid for global growth
When Wu Cunsong and Chen Binghui founded their artificial intelligence startup two years ago in Hangzhou, China, they quickly ran into obstacles, including dearth of venture capital.
The Independent
Seven people - including four kids - shot by neighbor who once told them to ‘go back to where they came from’
Motive still being investigated, but shooting ‘could’ have racial element, police say

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Shares of Evergrande EV unit slide 27% after it warns of losing assets

Latest stories

Farm robots help plug worker shortage in Malaysian palm oil

Russia's pipeline gas exports to Europe jump in June from last year

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

Oil prices steady amid summer demand hopes, supply risks

Bitcoin mining stocks rally in June amid AI frenzy - JPMorgan

Is EnerSys (ENS) the Best Lithium and Battery Stock to Buy Now?

U.S. EV Battery Plants to Spark a New Era in E-Mobility

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

Top Three Chinese Dividend Stocks In June 2024

Cheesecake Factory (CAKE) Outruns Industry: Up 14% in 6 Months

Meta stock dips after allegedly breaching EU antitrust rules

Spirit Aero to be broken up in $4.7 bln Boeing deal

David meets Goliath: Japan and Korea make startups work with large conglomerates in a twist on the Silicon Valley model

Are Hedge Funds Bullish on Sigma Lithium Corporation (SGML)?

Oil prices settle higher on demand hopes ahead of fresh US inventory data

Malaysia's Sabah state to develop oil, gas facilities with Gibson Shipbrokers

China to buy another African mine as it elbows in to lead global green energy revolution

'Misstiano Penaldo': John Terry brands BBC 'a disgrace' for dig at crying Cristiano Ronaldo over penalty miss

China’s AI startups head to Singapore in a bid for global growth

Seven people - including four kids - shot by neighbor who once told them to ‘go back to where they came from’