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Bessent says tariffs key to Trump plan, can help fund investment
Bessent says tariffs key to Trump plan, can help fund investment
by  AFP

US Treasury Secretary Scott Bessent said Tuesday that tariffs are a crucial part of President Donald Trump's economic strategy, asserting that they can be a source of government revenue to help fund investment. They are able to boost US industrial capacity, help improve national security, and can be "an important source of government revenue, which can help fund investments," he added.

Tesla shares slump 9% on disappointing Europe sales
Tesla shares slump 9% on disappointing Europe sales
by  AFP

Shares of the US electric vehicle pioneer Tesla slumped as much as nine percent Tuesday, as investors digested disappointing European sales and chief executive Elon Musk's aggressive foray into politics. Alongside its European struggles, Tesla also faces stiff competition from automakers like BYD in China -- a key market for electric vehicles.

Germany's next leader grapples to boost defence spending
Germany's next leader grapples to boost defence spending
by  AFP

Germany's next leader, conservative Friedrich Merz, has raised the alarm over European defence but the clock is ticking for him to muster the funds needed to refurbish the armed forces. According to Bloomberg News, he is in discussions to top up Germany's special defence fund with another 200 billion euros ($210 billion).

German family-run machine maker issues SOS to future government
German family-run machine maker issues SOS to future government
by  AFP

Facing a slowing German economy, high energy bills, onerous bureaucracy and the threat of US tariffs, a Black Forest-based factory equipment maker is issuing a plea for help to the country's next government. And now the company, which has about 3,700 workers worldwide, is facing the threat of US tariffs after Donald Trump's return as US president.

Indonesia agrees to terms with Apple to lift iPhone sales ban: source
Indonesia agrees to terms with Apple to lift iPhone sales ban: source
by  AFP

The Indonesian government has agreed to terms with Apple to lift a ban on sales of the iPhone 16 model, a government source familiar with the matter told AFP on Tuesday, ending months of negotiations between Jakarta and the tech giant. The government source did not disclose any information about the terms, nor when the agreed conditions would be presented to the public.