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Argentine peso, stocks fall after ruling party's election setback
The Argentine peso and share prices dropped sharply Monday after President Javier Milei's libertarian party suffered a drubbing in a key provincial election. The drubbing for Milei's party was far greater than opinions had predicted.
BRICS leaders denounce protectionism, tariff 'blackmail'
Leaders of the 11-member BRICS bloc railed against economic protectionism and "tariff blackmail" during a virtual meeting Monday held amid a damaging trade war with US President Donald Trump. In July, Trump lashed out at the BRICS and threatened its members with additional tariffs after they voiced concern that his trade war was putting the global economy at risk.
VW unveils affordable EVs to take on Chinese rivals
Europe's top car manufacturer Volkswagen on Monday presented a series of more affordable electric vehicles to take on fast-growing Chinese rivals as Germany's troubled auto sector seeks to turn around its fortunes.
At consumer tech show, German firms fret about US tariffs
Displaying one of her company's hot plates proudly labelled "Made in Germany", Sigrid Klenk concedes that maintaining production at home could become harder due in part to US tariffs. "Now we have to specify the amount of steel contained in our products, especially our hot plates," she told AFP. "This has kept us very busy in recent days."
Germany's US exports hit four-year low as tariffs bite
German exports to the United States dropped in July to their lowest level since 2021, data showed Monday, as President Donald Trump's tariffs exact a heavy toll on Europe's biggest economy. Trump's tariffs have dealt a major blow to Germany's export-driven economy, where major manufacturers had already been struggling with high energy costs, fierce competition from Asia and weak demand.
'Trump Whisperer' ex-minister joins Japan PM race
A former top diplomat dubbed the "Trump Whisperer" was the first candidate Monday to join the race to be Japan's next leader, a day after premier Shigeru Ishiba announced his resignation. With strong English, the Harvard-educated politician was dubbed the "Trump whisperer" for his deft handling of tricky US-Japan trade talks.
Asian shares rise as Japan politics weigh on yen
Asian markets rose on Monday, with Tokyo up nearly two percent after Japanese Prime Minister Shigeru Ishiba's decision to resign pushed down the value of the yen. "As for the market reaction, this obviously introduces significant downside risks for the (Japanese yen) and for long-end" Japanese government bonds (JGBs), he added.
ECB set to hold rates steady with eye on France crisis
The European Central bank is expected to hold interest rates steady again this week with inflation under control and US tariff tensions easing, even as France's political crisis presents a new headache.
Most EU carmakers on track to meet emission targets: study
Almost all European carmakers are on track to meet EU emission targets after winning a reprieve this year as electric vehicles (EV) sales pick up, a study released Monday showed. "The two-year extension of the targets allowed carmakers to take the foot off the gas and will lead to two million fewer electric cars being sold between 2025 and 2027," it said.
AFP
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