Oil Rallies to Two-Month High After US Crude Stockpile Decline

CNN Business
Germany blocks another big business deal with China
Germany has blocked the sale of a Volkswagen subsidiary to a Chinese state-owned company on national security grounds, delivering a fresh blow to the already tense relationship with its biggest trading partner.
Insider Monkey
The Fastest Growing Automotive Brand in the World
In this article, we will take a look at the Fastest Growing Automotive Brand in the World. We have also compiled a full free list of the 15 Fastest Growing Automotive Brands in the World. Global Automotive Market Trends The global automobile manufacturing sector is one of the largest industries worldwide and has been growing […]
Insider Monkey
Is Barrick Gold Corporation (GOLD) the Best Dividend Stock to Buy Under $25 Right Now?
We recently compiled a list of the 12 Best Dividend Stocks Under $25. In this article, we are going to take a look at where Barrick Gold Corporation (NYSE:GOLD) stands against the other dividend stocks under $25. Dividend stocks have remained important for investors, standing the test of time regardless of the market conditions. Dividends […]
Reuters
Nippon Steel's Mori to visit US again next week for talks on US Steel takeover
Nippon Steel's vice chairman plans to return to the United States next week again to discuss its proposed acquisition of U.S. Steel, a company spokesperson said on Wednesday. The planned visit by Takahiro Mori, the Japanese firm's key negotiator for the deal, follows trips to the U.S. in May and June, highlighting the importance of the $15 billion takeover offer to the world's No. 4 steelmaker. U.S. Steel's management has backed the bid but the deal faces resistance from the White House and the powerful United Steelworkers (USW) union.
Bloomberg
Oil Near Two-Month High on Hurricane Risks, US Stockpile Drop
(Bloomberg) -- Oil traded near a two-month high as Hurricane Beryl portended a potentially worse storm season, while shrinking US crude stockpiles hinted at improved demand.Most Read from BloombergBiden’s Fourth of July Shrouded by Pressure to Drop 2024 BidKamala Harris Is Having a Surprise Resurgence as Biden’s Campaign UnravelsNewsom Shocks California Politics by Scrapping Crime MeasureHouse Democrats Consider Demanding Biden Withdraw From RaceChina Can End Russia’s War in Ukraine With One Pho
The Canadian Press
'Marriage of convenience': Hudson's Bay Co. buying Neiman Marcus for US$2.65B
TORONTO — Several North American department stores are joining forces under a deal that will see Hudson's Bay Co. buy Neiman Marcus and spin it out into a larger business along with some of its other prestige retailers.
The Canadian Press
Turkmenistan and Iran sign deal to supply gas to Iraq. Iran will build pipeline to aid delivery
ASHGABAT, Turkmenistan (AP) — Turkmenistan and Iran on Wednesday signed a contract for the delivery of 10 billion cubic meters a year of Turkmen gas that Iran will then ship on to Iraq.
Reuters
Exclusive-India asks utilities to order $33 billion in equipment this year to boost coal power output, sources say
India has asked power companies to order equipment worth $33 billion this year to fast track capacity additions of coal-fired power in the years ahead, as the South Asian nation struggles to meet booming electricity demand, two government officials said. The unprecedented move by the government, which would result in record tendering in a year for the equipment by major power firms such as state-run NTPC and SJVN as well as by private companies Adani Power and Essar Power, will help add 31 gigawatts (GW) in the next 5-6 years, the sources said. Expediting equipment orders for new coal-fired plants was discussed at a meeting held by Power Minister Manohar Lal, soon after the formation of Prime Minister Narendra Modi's federal cabinet early last month, the sources said.
Reuters
German car industry urges EU to drop tariffs on China-made cars
BERLIN (Reuters) -Germany's VDA auto association has urged the European Commission to drop its planned tariffs on China-made electric vehicles in a last-ditch effort to influence negotiations ahead of the tariffs which take effect on Thursday. The association said in a statement on Wednesday the tariffs would hurt European and U.S. carmakers exporting from China and risked retaliation by China with counter-tariffs, which would hit the German industry hard given its high volume of exports to China.
Bloomberg
Chinese EVs Defend Market Share in Europe as Trade Tension Escalates
(Bloomberg) -- Chinese electric-car brands held on to their share of the slumping European EV market in May, ahead of new tariffs designed to protect local carmakers from their lower-cost imports.Most Read from BloombergBiden’s Fourth of July Shrouded by Pressure to Drop 2024 BidKamala Harris Is Having a Surprise Resurgence as Biden’s Campaign UnravelsNewsom Shocks California Politics by Scrapping Crime MeasureHouse Democrats Consider Demanding Biden Withdraw From RaceChina Can End Russia’s War
Reuters
Factbox-EU report details widespread Chinese interference in economy
In the run up to announcing provisional tariffs on Chinese-made electric vehicles, the European Commission in April released a 712-page report on the many layers of subsidies it argues the Chinese government provides to domestic firms. The report is designed for anti-dumping cases, but trade experts see it as a supporting document for its anti-subsidy investigation into EVs and as a signal to both China and reluctant European Union member states that it means business. The Chinese government funnels both indirect and direct support to state-owned enterprises, or ones it effectively controls even with minority ownership.
Reuters
TSX climbs to four-week high as metal mining shares jump
(Reuters) -Canada's main stock index rose to a near four-week high on Wednesday, with metal mining stocks leading a broad-based rally as the U.S. dollar fell ahead of employment data that could support prospects of Federal Reserve interest rate cuts. The S&P/TSX composite index ended up 269.87 points, or 1.2%, at 22,223.67, its highest closing level since June 6 as U.S. economic data pointed to easing labor market conditions. "It'll also be interesting to see what happens with non-farm payrolls on Friday, but today you're kind of getting a mixed bag of economic numbers," said Colin Cieszynski, chief market strategist at SIA Wealth Management.
South China Morning Post
Tesla holds on to crown as world's top pure EV maker but BYD draws closer in title race
Tesla retained its title as the world's largest pure electric vehicle (EV) maker after beating sales forecasts for the April to June period but its lead over its competitors is narrowing as Chinese manufacturers launch an array of models at cheaper prices. The Austin, Texas-based company delivered 443,956 vehicles to customers during the quarter, beating a median forecast of 439,302 units in a Bloomberg survey of analysts, edging out BYD, backed by Warren Buffett's Berkshire Hathaway, which chur
PA Media: Money
Demand for new cars from private buyers falls for ninth month in a row
The Society of Motor Manufacturers and Traders said 67,625 new cars were registered by private consumers in June.
South China Morning Post
China-EU trade reaches turning point with EV tariffs set to begin, but 'scope to compromise'
Provisional import tariffs on Chinese electric vehicles by the European Union represent a juncture for the bilateral relationship, but both sides would have enough time to avert "a serious trade war", analysts said, with the new levies set to take effect on Friday. The European Commission confirmed on Thursday that the bloc's additional duties of up to a revised 37.6 per cent on Chinese battery electric vehicles (BEVs) would begin on Friday and would initially last for a maximum of four months.
Baystreet
Big Gains for TSX
Equities in Toronto aimed for the skies Wednesday. The TSX Composite Index popped 269.82 points, ...
Business Insider
The AI boom will push America's shaky power grid to its limit
"The cost of that Gen AI architecture is freaking out of control," Baird strategist Ted Mortonson told Business Insider.
Simply Wall St.
July 2024 Insight Into Three Chinese Stocks Estimated To Be Trading Below Value
Amid a backdrop of fluctuating global markets, Chinese stocks have shown signs of weakening as concerns about the country's economic slowdown weigh on investor sentiment. This environment may present opportunities for investors to consider stocks that are potentially undervalued, offering a strategic entry point in a market poised for future adjustments.
Bloomberg
European Stocks Advance With Elections in Focus: Markets Wrap
(Bloomberg) -- European stocks rose as key elections held center stage and investors grew more optimistic about Federal Reserve interest-rate cuts following US economic data that supported the case for easing.Most Read from BloombergBiden’s Fourth of July Shrouded by Pressure to Drop 2024 BidKamala Harris Is Having a Surprise Resurgence as Biden’s Campaign UnravelsNewsom Shocks California Politics by Scrapping Crime MeasureHouse Democrats Consider Demanding Biden Withdraw From RaceChina Can End
Simply Wall St.
Discover Three Chinese Dividend Stocks With Yields Up To 6.4%
Amidst a backdrop of global economic fluctuations, Chinese stocks have shown resilience, though concerns about slowing growth persist. In this environment, dividend stocks may offer investors a blend of income and potential for long-term value appreciation, making them an attractive consideration in the current market scenario.

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Oil Rallies to Two-Month High After US Crude Stockpile Decline

Latest Stories

Germany blocks another big business deal with China

The Fastest Growing Automotive Brand in the World

Is Barrick Gold Corporation (GOLD) the Best Dividend Stock to Buy Under $25 Right Now?

Nippon Steel's Mori to visit US again next week for talks on US Steel takeover

Oil Near Two-Month High on Hurricane Risks, US Stockpile Drop

'Marriage of convenience': Hudson's Bay Co. buying Neiman Marcus for US$2.65B

Turkmenistan and Iran sign deal to supply gas to Iraq. Iran will build pipeline to aid delivery

Exclusive-India asks utilities to order $33 billion in equipment this year to boost coal power output, sources say

German car industry urges EU to drop tariffs on China-made cars

Chinese EVs Defend Market Share in Europe as Trade Tension Escalates

Factbox-EU report details widespread Chinese interference in economy

TSX climbs to four-week high as metal mining shares jump

Tesla holds on to crown as world's top pure EV maker but BYD draws closer in title race

Demand for new cars from private buyers falls for ninth month in a row

China-EU trade reaches turning point with EV tariffs set to begin, but 'scope to compromise'

Big Gains for TSX

The AI boom will push America's shaky power grid to its limit

July 2024 Insight Into Three Chinese Stocks Estimated To Be Trading Below Value

European Stocks Advance With Elections in Focus: Markets Wrap

Discover Three Chinese Dividend Stocks With Yields Up To 6.4%