China's Geely expresses disappointment in EU tariff decision, vows 'necessary measures' to safeguard rights

USA TODAY
Toyota recalls 145,000 Toyota, Lexus SUVs due to an airbag problem: See affected models
Toyota is recalling about 145,000 vehicles due to an airbag problem, the automaker said last week. Here's which models are affected.
Simply Wall St.
Top 3 TSX Stocks Estimated To Be Trading Below Value In June 2024
Amidst a landscape where the Canadian market shows resilience with steady economic growth and rising stock values, consumer sentiment remains tepid, reflecting a complex interplay of economic factors. In such an environment, identifying stocks that are potentially undervalued becomes particularly compelling as they may offer opportunities for investors seeking value in a market where broader indices have been performing robustly.
Bloomberg
China’s EV Success Story Built on Price Wars, Tesla Factor
(Bloomberg) -- China became a world leader in electric vehicles by showering companies with public cash. It’s a charge increasingly heard in the US and Europe, and a refrain that’s central to the escalating trade war.Most Read from BloombergSupreme Court Poised to Allow Emergency Abortions in IdahoYouTuber Dr Disrespect Was Allegedly Kicked Off Twitch for Messaging MinorBolivia’s President Arce Swears in New Army Chief After Coup BidSpaceX Tender Offer Said to Value Company at Record $210 Billio
Simply Wall St.
Top 3 Indian Stocks Estimated To Be Below Market Value In June 2024
The Indian stock market has shown remarkable growth over the past year, rising by 46%, with earnings expected to increase by 16% annually. In this context, identifying stocks that are potentially undervalued can offer investors opportunities for significant value in a thriving market environment.
NextShark
VinFast hopes new mini-SUV EV will mitigate its financial bleeding
Vietnamese electric vehicle automaker VinFast is releasing the VF3, a $9,200, 10-foot-long mini-SUV electric vehicle (EV), in the Asian market as the company scrambles to mitigate financial losses after a dwindling expansion in the Western market. Where to get it: The five-seater mini-SUV is available through Southeast Asian e-commerce platform Shopee for an initial deposit of $2,000. Hoping to sell 20,000 cars this year, VinFast has reportedly already seen 27,000 people place their orders since it began taking orders on May 13.
South China Morning Post
Tencent's Roco Kingdom: World among 104 new video games approved by Beijing in June
China this month approved 104 new video games from mainland developers, including titles from internet giants Tencent Holdings and Alibaba Group Holding. The latest titles given the go-ahead by the National Press and Publication Administration (NPPA) included Tencent's online role-playing game Roco Kingdom: World, and Ruyuan from Alibaba studio Lingxi Games, according to a post on the regulator's website on Tuesday. Alibaba owns the South China Morning Post. This month marked a rebound for China
Simply Wall St.
Three Solid Dividend Stocks Offering Up To 6.3% Yield
As global markets exhibit mixed signals with modest gains in the U.S. and challenges in sectors like Chinese real estate, investors are keenly observing opportunities for stable returns. In this context, dividend stocks emerge as appealing options, offering potential resilience and consistent yield amidst fluctuating market conditions.
Reuters
Volvo to delay EX30's US shipments due to higher tariffs on Chinese imports
Volvo had previously said it would begin selling the EX30 in the United States later this year, but a spokesperson on Wednesday told Reuters that deliveries will not start until 2025, in part due to the introduction of tariffs of more than 100% on Chinese EV imports by the U.S. government. U.S. President Joe Biden unveiled steep tariff hikes on Chinese imports last month, including over 100% on EVs, up from 27.5% earlier. Volvo, the Swedish luxury brand owned by China's Geely, started building the EX30 in Zhangjiakou, China, and said last year it would expand production of the small electric SUV to a plant in Belgium beginning 2025.
Global News
Union representing WestJet mechanics issue strike notice in time for busy travel weekend
For the second time in just over a week, travel plans for thousands of Canadians are in jeopardy. With contract talks stalled, WestJet's unionized mechanics have again issued a 72-hour strike notice -- which puts them in a legal strike position early Friday morning. As Andrea Macpherson reports, the airline has responded by saying it will "lock out" those workers.
Reuters
Analysis-A mountain of asset sales loom after oil megamerger era
U.S. oil and gas companies could face an uphill struggle to sell about $27 billion of assets to fund investor payouts over the next few years as the biggest wave of energy megamergers in 25 years nears the end of regulatory reviews. Energy stocks represent just 4.1% by weight of the S&P 500, a third of their 2011 share as tech and health care investments took off. There are fewer institutional and European oil buyers interested, and a lack of ready cash to finance these deals.
Investing.com
Oil prices settle higher, but gains capped by surprise inventory build, dollar
Investing.com-- Oil prices settled slightly higher Wednesday, though gains were capped by unexpected build in U.S. inventories and a stronger dollar.
Charlotte Observer
Charlotte car dealerships confront cyberattacks that hit auto outlets nationwide
One of the largest dealer management systems suspended its systems Wednesday to address the cyberattacks
Reuters
Oil eases as stock build raises spectre of slower US demand
Oil prices dipped on Thursday as a surprise build in U.S. stockpiles fuelled fears about slow demand from the world's top oil consumer, though declines were capped by worries a potential expansion of the Gaza war may disrupt Middle East supplies. Brent crude oil futures were down 6 cents, or 0.1%, at $85.19 a barrel, as of 0635 GMT. "An expected increase in U.S. inventories of crude oil and gasoline are weighing on the market due to fears of weakening demand," said Tsuyoshi Ueno, senior economist at NLI Research Institute.
Business Insider
Airbus may have benefited from Boeing's struggles, but it isn't smooth sailing for the rival aviation giant
Airbus stock dropped 11% after it announced reduced delivery targets for its planes, and pushed back the date for increased A320neo output.
Bloomberg
Oil Settles Little Changed After Swinging on US Stockpile Gain
(Bloomberg) -- Oil settled little changed after swinging between losses and gains as US petroleum stockpiles rose to the highest in more than three years, undercutting optimism about a summer demand surge.Most Read from BloombergSupreme Court Poised to Allow Emergency Abortions in IdahoBolivia’s President Arce Swears in New Army Chief After Coup BidYouTuber Dr Disrespect Was Allegedly Kicked Off Twitch for Messaging MinorSpaceX Tender Offer Said to Value Company at Record $210 BillionChina’s Fin
Reuters
Exxon-led Guyana oil group's net jumps in 2023, margins top Nvidia's
Guyana's lucrative agreement with an Exxon Mobil-led consortium in the South American country last year generated $6.33 billion for the partners, government data showed, yielding a net margin larger than that of chip-maker Nvidia Corp. The trio's combined net margin was 56%, greater than the 49% Nvidia earned in its most recent fiscal year. The Stabroek offshore oil venture's 2023 revenue soared 23% over the prior year, to $11.25 billion, as the addition of a third production vessel expanded output.
Yahoo Finance Video
Apple rejected Meta's pursuit of AI partnership: BBG
Apple (AAPL) has reportedly rejected Meta's (META) attempts at forging a partnership. According to a Bloomberg report, the tech giant declined Meta's proposal to integrate its AI chatbot technology into Apple smartphones several months ago. Yahoo Finance's Seana Smith and Brad Smith break down the details. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
South China Morning Post
China and Poland agree to boost cooperation on electric vehicles
China and Poland have agreed to cooperate on electric vehicles despite the European Union's recent decision to raise tariffs on Chinese imports. "Both sides will support the growth of two-way investments in electric vehicles, green development, logistics and other sectors," a joint action plan for 2024-27 said. The document, which aims to "strengthen the comprehensive strategic partnership" between the two countries, was issued after Chinese President Xi Jinping met his Polish counterpart Andrze
South China Morning Post
CATL boss Robin Zeng urges China's EV makers to stop cutting prices and focus on reliability
Robin Zeng, the founder and chairman of Contemporary Amperex Technology Ltd (CATL), has urged Chinese electric vehicle (EV) builders and car component manufacturers to cease the price war engulfing the sector and focus on ensuring the reliability of their products. Speaking at the 15th Annual Meeting of the New Champions, also known as the Summer Davos, the boss of the world's largest EV battery maker joined the chorus of recent voices warning that such intense price competition may come at the
Barrons.com
Fast-Food Chains Jacked Up Their Prices. Now They’re Trying to Win You Back With Value Menus.
Fast-food chains are heading toward a price war this summer as America pulls back on dining out. While a race to the bottom could hurt all players, McDonald’s with its rich profit margin and cash flow, seems best positioned to emerge as the winner. Burger King debuted its $5 Your Way Meal earlier this month, which equates to a roughly 30% discount.

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China's Geely expresses disappointment in EU tariff decision, vows 'necessary measures' to safeguard rights

Latest Stories

Toyota recalls 145,000 Toyota, Lexus SUVs due to an airbag problem: See affected models

Top 3 TSX Stocks Estimated To Be Trading Below Value In June 2024

China’s EV Success Story Built on Price Wars, Tesla Factor

Top 3 Indian Stocks Estimated To Be Below Market Value In June 2024

VinFast hopes new mini-SUV EV will mitigate its financial bleeding

Tencent's Roco Kingdom: World among 104 new video games approved by Beijing in June

Three Solid Dividend Stocks Offering Up To 6.3% Yield

Volvo to delay EX30's US shipments due to higher tariffs on Chinese imports

Union representing WestJet mechanics issue strike notice in time for busy travel weekend

Analysis-A mountain of asset sales loom after oil megamerger era

Oil prices settle higher, but gains capped by surprise inventory build, dollar

Charlotte car dealerships confront cyberattacks that hit auto outlets nationwide

Oil eases as stock build raises spectre of slower US demand

Airbus may have benefited from Boeing's struggles, but it isn't smooth sailing for the rival aviation giant

Oil Settles Little Changed After Swinging on US Stockpile Gain

Exxon-led Guyana oil group's net jumps in 2023, margins top Nvidia's

Apple rejected Meta's pursuit of AI partnership: BBG

China and Poland agree to boost cooperation on electric vehicles

CATL boss Robin Zeng urges China's EV makers to stop cutting prices and focus on reliability

Fast-Food Chains Jacked Up Their Prices. Now They’re Trying to Win You Back With Value Menus.