Vitol to invest $550 mln in clean cooking in Africa

Reuters
China steps up pressure with EU brandy probe hearing as EV tariffs begin
BEIJING (Reuters) -China announced the next step in its anti-dumping investigation into European brandy imports on Friday, ramping up tension on the day the European Commission's provisional tariffs on Chinese-made electric vehicles take effect. Ahead of the bloc confirming tariffs of up to 37.6% on Chinese-made EVs on Thursday, a commerce ministry spokesperson told a news conference that Brussels and Beijing should keep negotiating, but kept the prospect of retaliation was alive with a reference to another investigation into EU pork imports.
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.
The Telegraph
BMW attacks EU tariffs on Chinese electric car imports
BMW has accused the European Union of protectionism as Brussels prepares to hit imported Chinese electric cars with a wave of tariffs.
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.
AFP News
Why are Chinese electric cars in EU crosshairs?
The European Union will impose additional provisional duties of up to 38 percent on Chinese electric cars from Friday after concluding manufacturers in China benefited from unfair state support.The EU will now impose provisional duties between 20 and 38 percent on top of the current 10 percent tariff on Chinese electric cars.
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.
Reuters
Analysis-China, struggling to make use of a boom in energy storage, calls for even more
BEIJING (Reuters) -Rows of what look like thin, white shipping containers are lined up on a barren dirt field in China's Shandong province. Filled with batteries, they form a 795 megawatt (MW) plant that can hold up to 1 million kilowatt-hours of electricity - enough to power 150,000 households for a day, making it China's largest such storage facility when it was connected to the grid last Saturday. Built by Lijin County Jinhui New Energy Co, the project is part of an explosion in development of energy storage in China, which has called for even more investment in the sector to boost renewable electricity and ease grid bottlenecks.
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.
Reuters
Europe's top cognac makers to attend China meeting on anti-dumping probe, source says
LONDON (Reuters) -Leading European cognac producers will attend a hearing on China's anti-dumping probe of the industry in Beijing on July 18 - their first chance to defend themselves in person since the investigation began earlier this year, an industry source said. Companies behind major brands Martell, which is owned by Pernod Ricard, Remy Martin - part of Remy Cointreau - and Hennessy, owned by LVMH, received a summons overnight to attend the hearing, the source said.
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.
Reuters
Ambani's Reliance to launch IPO-bound Shein in India, ET reports
BENGALURU (Reuters) -Indian bilionaire Mukesh Ambani's Reliance Retail Ventures will launch Chinese fast fashion label Shein in the coming weeks, selling the latter's products on its app and brick-and-mortar stores, The Economic Times reported on Thursday. The retail unit of Ambani's oil-to-telecom conglomerate Reliance Industries reportedly teamed up with the IPO-bound fashion brand last year and is likely to tap former Meta director Manish Chopra to head Shein's operations in India, the newspaper said, citing executives aware of the development. The partnership is the latest in a string of deals by Reliance Retail, which has brought international brands such as American jewellery maker Tiffany & Co and British online retailer ASOS to India.
South China Morning Post
Upbeat and hopeful: China Conference panel optimistic about Hong Kong's future prospects
Overseas start-ups and entrepreneurs believe Hong Kong is an attractive place to develop their ventures because of the depth of the city's financial market, availability of capital and its status as an international centre, according to the chief of the government's investment arm. "The international status of Hong Kong is very important for innovative industries and enterprises" because these start-ups need to have a global mindset, international clientele and supply chain, said Clara Chan Ka-c
Reuters
Oil prices on track for fourth straight week of gains
(Reuters) -Oil prices steadied near their highest levels since late April on Friday, and were on track for a fourth straight week of gains, driven by hopes of strong summer fuel demand and some supply concerns. Brent crude futures rose 8 cents, or 0.1%, to $87.51 a barrel by 1301 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 10 cents, or 0.1%, at $83.98.
Zacks
Inventory Decline Lifts U.S. Crude to Best Close Since April
With oil remaining at a healthy enough level for market participants, we advise investors to buy stocks like SUN, SM and TUWOY.
Reuters
China-built EVs hit with duties in biggest EU trade case yet
BRUSSELS (Reuters) -The European Union 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. There is however a four-month window during which the tariffs are provisional and intensive talks are expected to continue between the two sides as Beijing threatens wide-ranging retaliation. The European Commission's provisional duties of between 17.4% and 37.6% without backdating are designed to prevent what its president Ursula von der Leyen has said is a threatened flood of cheap EVs built with state subsidies.
Zacks
Top Research Reports for Apple, Meta Platforms & Tesla
Today's Research Daily features new research reports on 16 major stocks, including Apple Inc. (AAPL), Meta Platforms, Inc. (META) and Tesla, Inc. (TSLA), as well as a micro-cap stock Natural Health Trends Corp. (NHTC)
NextShark
74-year-old woman dies after being shoved in front of San Francisco train
Corazon Dandan died after being pushed into an oncoming BART train at San Francisco’s Powell Street Station at around 11 p.m on Monday night. The suspect, 49-year-old Trevor Belmont, also known as Hoak Taing, was arrested at the scene and booked into the San Francisco County Jail on suspicion of homicide and elder abuse. Dandan, who was Filipino American, was a dedicated telephone operator at the Westin St. Francis and other hotels.
The Daily Beast
Conservatives Routed in Worst Election Result for 200 Years
LONDON—The Conservatives, the world’s winningest political party, were booted out of power in dramatic style on Thursday after 14 years of chaotic and divisive rule.The Labour Party had secured a landslide victory, ending an era of Conservative rule over Britain that stretches back to 2010; the year that the iPad and Instagram were launched and Lady Gaga wore that meat dress to the MTV music awards.In that time, the Conservatives have cycled through five leaders, each of them dragging the party
People
Eva Amurri Doubles Down in Defense of Her Wedding Dress Cleavage: 'My 32F Boobs Minding Their Business'
The bride, who wore a corset-style Kim Kassas gown on her wedding day, previously clapped back at trolls who felt “scandalized” by her breasts

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Vitol to invest $550 mln in clean cooking in Africa

Latest stories

China steps up pressure with EU brandy probe hearing as EV tariffs begin

China's BYD opens first EV factory in Southeast Asia

BMW attacks EU tariffs on Chinese electric car imports

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

Why are Chinese electric cars in EU crosshairs?

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

EU hits Chinese electric cars with new tariffs

Analysis-China, struggling to make use of a boom in energy storage, calls for even more

Bird flu hits McDonald's Australia breakfast hours

Europe's top cognac makers to attend China meeting on anti-dumping probe, source says

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

Ambani's Reliance to launch IPO-bound Shein in India, ET reports

Upbeat and hopeful: China Conference panel optimistic about Hong Kong's future prospects

Oil prices on track for fourth straight week of gains

Inventory Decline Lifts U.S. Crude to Best Close Since April

China-built EVs hit with duties in biggest EU trade case yet

Top Research Reports for Apple, Meta Platforms & Tesla

74-year-old woman dies after being shoved in front of San Francisco train

Conservatives Routed in Worst Election Result for 200 Years

Eva Amurri Doubles Down in Defense of Her Wedding Dress Cleavage: 'My 32F Boobs Minding Their Business'