AFP
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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 "unfair" state subsidies, despite Beijing's warnings the move would unleash a trade war. The United States has already hiked customs duties on Chinese electric cars to 100 percent, while Canada is considering similar action.
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.
Asian stocks extend gains, dollar dips as US data builds on rate hope
Asian equities rose and the dollar slipped further on Thursday as investors welcomed more data pointing to a softening labour market that gives the Federal Reserve room to cut interest rates, with another key jobs report due later in the day.
US Fed officials stressed 'patience' on rate cuts: minutes
Members of the US Federal Reserve's rate-setting committee said last month that the bank's employment and inflation goals were moving into "better balance," with some calling for "patience" on interest rate cuts, according to minutes of the meeting published Wednesday.
New lithium plant inaugurated in Argentina
French mining group Eramet and China's Tsingshan on Wednesday inaugurated a lithium production plant in Argentina to supply the booming electric car industry. The plant is not a traditional mine nor one of the environmentally damaging salt flats from which the metal used in electric batteries is normally extracted in South America's so-called lithium triangle of Argentina, Bolivia and Chile.
Threads hits 175 mn users on first anniversary
Threads, Meta's alternative to X (formerly Twitter), has hit 175 million monthly users a year after its out-of-the-blue launch. Threads, which hit app stores on July 5 last year, is a spin-off of Instagram and is intended to be a rival to X, formerly known as Twitter, after that platform alienated many users and advertisers following Elon Musk's purchase in 2022.
US trade deficit expands less than expected in May: govt
The US trade gap grew slightly less than expected in May, to the widest level since late 2022, government data showed on Wednesday, as exports and imports both slipped. While this was the largest since October 2022, analysts had initially expected the gap to be the biggest in two years.
US private hiring eases unexpectedly in June: ADP
Private sector employment cooled unexpectedly in June, payroll firm ADP said Wednesday, with job creation slowing for a third month. But she added that without a hiring rebound in leisure and hospitality, "June would have been a downbeat month."
Microsoft to invest 2.2 bn euros in Spain data centres
Microsoft is to invest 2.2 billion euros ($2.4 billion) in a huge data centre project in northeastern Spain, regional authorities said Wednesday as the area seeks to establish itself as a cloud storage hotspot.
AFP
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