Auto companies around the world face an imminent shortage of the rare earth minerals essential to making everything from anti-lock braking sensors to windshield wiper motors, executives have warned the Trump administration, Reuters reported.
Tag: Global Economy
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OPEC+ WILL BOOST OIL OUTPUT BY ANOTHER 411,000 BARRELS A DAY IN JULY
At its 31 May meeting, the OPEC+ oil cartel held to its previous commitment to increase oil production by 411,000 barrels per day in July.
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JAPAN’S GOVERNMENT: OUT OF MONEY, OUT OF OPTIONS
With a national debt more than twice the size of its economy, Japan is faced with rethinking its decades-long practice of using public money to affect social policy and keep the economy afloat.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
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SPOTLIGHT: CHINA’S EV MAKERS TAKE CHARGE
In April, BYD—China’s leading maker of electric vehicles (EVs)—sold more cars in Europe than Tesla for the first time, seeing its sales on the continent soar 170 percent year on year. BYD sold 7,231 all-electric vehicles in Europe last month against Tesla’s 7,165.
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SPOTLIGHT: BANKS GO BLOCKCHAIN
Several major banks and financial institutions are stepping up their experiments with tokenizing stock shares and investment funds on blockchains, the digital ledgers that are said to be tamper-proof.
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JAPAN’S INFLATION RATE RISES TO 27-MONTH HIGH
In April, Japan’s core inflation rate reached 3.5 percent, its highest since January 2023, as rice prices shot to record heights across the country.
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INFLATION RETURNS TO THE U.K.
In April, Britain’s consumer prices rose 3.5 percent, year on year, compared to 2.6 percent in March, posting the highest rate since January 2024 and the sharpest monthly increase since October 2022.
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CHINA BOOSTS DIRECT INVESTMENT IN EUROPE
In 2024, China increased its investment in Europe for the first time in seven years, putting about €10 billion into a range of electric vehicle (EV) plants and battery factories in Hungary.
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BUSINESS ACTIVITY SLUMPS IN EUROPE AND JAPAN
This month, business activity has fallen in Europe and Japan to a 17-month low, due in part to Donald Trump’s tariffs and the continued uncertainty surrounding them, The Wall Street Journal reported.
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