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Trump to scrap Biden's fuel-economy standards
President Donald Trump's administration is set to revoke tougher fuel-economy standards put in place by his predecessor Joe Biden, in a move it says will lower car prices, an official said Wednesday. "As America's largest auto producer, we appreciate President Trump's leadership in aligning fuel economy standards with market realities," Ford CEO Jim Farley said in a statement.
Retail giant Costco challenges US tariffs in court
The US members-only warehouse retailer Costco has sued President Donald Trump's administration, demanding a refund for tariffs it has paid on imported goods, according to a lawsuit reviewed by AFP. The suit, filed on Friday in the US Court of International Trade, says the tariffs are illegal.
Greek govt warns farmers not to escalate subsidy protest
The Greek government on Wednesday warned farmers against escalating a roadblock protest to demand funds delayed by the investigation into an EU subsidies scandal. The farmers have sustained major losses from an infestation of sheep pox, and an EU investigation into widespread subsidy fraud that has delayed payments to legitimate claimants.
EU moves to break dependence on China for rare earths
The EU on Wednesday presented a multi-billion-euro plan to help curb the 27-nation bloc's dependence on China for rare earths, as Beijing's stranglehold on the critical materials threatens key industries. Brussels also wants to curb exports of scrap and waste from permanent magnets -- made from rare earths and widely used in industry -- as of next year, to boost recycling within Europe.
German lithium project moves ahead in boost for Europe's EV sector
Australia's Vulcan Energy said Wednesday it will soon start building a German lithium production project that will provide enough of the metal for half a million electric car batteries a year. Previously the project had been in a pilot phase but development is set to get underway in the coming days, with commercial lithium production targeted from 2028, said Vulcan.
Norway postpones deep-sea mining activities for four years
Norway on Wednesday postponed the first licences to permit deep-sea mining in its Arctic waters for four years, a delay environmentalists hope signals the "nail in the coffin" of the plans. "This must be the nail in the coffin for the deep sea mining industry in Norway," said Greenpeace deep sea mining campaigner Haldis Tjeldflaat Helle.
Zara owner Inditex posts higher profits
Zara owner Inditex, the world's largest fashion retailer, posted Wednesday higher profits for the first nine months of its fiscal year despite stiffer competition from low-cost clothing outlets like Shein and Primark.
Airbus cuts delivery target over fuselage quality issue
Aircraft maker Airbus said Wednesday it had lowered its 2025 target for deliveries because of fuselage panel quality issues at its flagship model, the A320. It did not say whether 2026 deliveries would also be affected by the problem which it said stemmed from "a recent supplier quality issue on fuselage panels impacting its A320 Family delivery flow".
EU agrees deal to ban Russian gas by autumn 2027
European Union lawmakers and member states reached a deal Wednesday to ban all imports of Russian gas by autumn 2027, as the bloc seeks to choke off key funds feeding Moscow's war chest. The timeline must still get final approval from the European Parliament and member states.
AFP
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