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On both sides of the Russia-Ukraine Border, drone and artillery strikes kill civilians
Local officials reported that drones and artillery killed civilians on both sides of the Russia-Ukraine frontier Saturday. Yegor Kvalchuk, acting governor of the region, said that a Ukrainian drone struck killed two people who were in a car near the border in the Russian border area of Bryansk. Russian news agencies reported that the Russian Defence Ministry said that 124 Ukrainian drones were 'downed' over Russian regions between 8 am and 8 pm (0500-17:00 GMT). Sergei Sobyanin, the Moscow mayor, made a 'long series' of statements regarding Ukrainian drones headed for the capital. The informal count kept by Russian media agencies puts the number of drones at 24 for the day. Oleksandr Gánsha, governor of Ukraine's southeastern Dnipropetrovsk Region said that a total of over 40 drone attacks and?artillery fired had killed and injured a person?near Nikopol. The town, located on the other side of the Dnipro River, from the Russian-held nuclear power plant in?Zaporizhzhia, is a?frequent Russian target. Denis Pushilin, the Moscow-appointed leader of Russian-held regions in Ukraine's Donetsk Region, announced on Telegram that two people had been?killed by Ukrainian drone attacks in the major towns Horlivka and Makiivka. Reporting by Ron Popeski, Editing by Rod Nickel and Alistair Bell
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On both sides of the Russia-Ukraine Border, drone and artillery strikes kill civilians
Local officials reported that drones and artillery?killed civilians on both sides of the russia-ukraine border?on Saturday. According to the acting governor of the 'Russian border region' of Bryansk, two Ukrainians were killed in their car by a drone strike in a nearby village, according to a Telegram post from the region. According to a report by Russian news agencies, the Russian Defence Ministry said that 124 Ukrainian drones were shot down over Russian regions between 8:00 am and 8:00 pm (0500-17:00 GMT). Sergei Sobyanin, the Moscow mayor, made a series of long-winded statements regarding Ukrainian drones intercepted on their way to the capital. A Russian news agency's informal count put the number of drones intercepted at 21 for the day. Oleksandr?Ganzha, the Governor of the southeastern Dnipropetrovsk Region in Ukraine, stated that a combined total of more 40 drone strikes and artillery fire had killed and injured a person near Nikopol. This town is often a Russian target. It lies on the opposite bank of the Dnipro River to the Zaporizhzhia Nuclear Power Plant, which is held by Russia. (Reporting and editing by Rod Nickel.)
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Ambassador Carney says that China's Geely will ship the first Lotus EVs in Canada to Canada by July, under Carney-Xi agreement.
Wang Di, China's ambassador in Canada, said that Geely Holding Group Lotus electric vehicles would arrive in Canada within the next month as a result of an agreement reached between Prime Minister Mark Carney and Chinese president Xi Jinping. The vehicles will be the first Chinese owned and manufactured cars to be sold under an agreement that allows for up to 49,000 Chinese electric vehicles to enter Canada at a reduced rate every year, as Carney attempts to diversify Canada’s trade away the United States. Wang stated that "Geely EVs are coming to Canada next month, and there will be a ceremony in Montreal when the cars arrive." Lotus Cars has not responded to a comment request. The Department of Global Affairs at Canada's Global Affairs said that it will not comment on specific shipments due to reasons of commercial confidentiality. Wang stated that other Chinese brands such as Chery, BYD and others are working with Canadian government agencies in order to finish the necessary steps to ship their products to Canada. Canadian officials previously said that some cars were delivered earlier to allow the companies to test them in Canadian conditions. Wang, through an interpreter, said: "I hope that in the autumn of this year, other Chinese brands EVs will finish the procedures and be able to get into the Canadian market." Stella Li, BYD's Executive Vice President, recently said that the company was likely to start selling next year. Tesla, based in the United States, has already imported Chinese made vehicles into Canada. Canada also hopes to attract joint ventures and investment into its EV supply chain. Wang said Chinese EV manufacturers were interested in establishing joint ventures but would focus first on building sales. Carney's decision to allow Chinese EV imports was criticized by some U.S. officials. Trade expected to spike Carney said that Canada will increase its exports by 50% to China by 2030 during his visit to China in January. Wang Yi, China's minister of foreign affairs, said that exports to China could grow by 100 percent last month. Wang stated that to double Canadian exports in China, they will need to increase by nearly 15% per year for the next five. Wang also noted that Canadian exports are already up 27.5% since Carney’s visit. He said: "I think we could go beyond 100% and maybe even reach 200% as we move forward with our economic and trading cooperation." Wang said Canada can supply more than 22 million metric tonnes of crude oil annually to China, up from the 15.5 million tons it supplied last year. He did not elaborate on his statement that he thought China had "great potential" to purchase liquefied gas from Canada. Wang stated that Canada, as a major exporter of beef, canola and peas, only supplies 2% of Chinese agricultural products, which highlights the vast market Canada could tap. He said: "As long we stay on the right track at the right speed, in the right direction, there is a lot of opportunity for us to grow our business." China reduced tariffs on some Canadian products in March, but kept duties at 100% for canola oil and 25% for pork. The tariff relief for products such as canola meal and peas expires by the end of this year, causing uncertainty to?exporters. Wang refused to confirm whether China would continue the tariff suspension on pork or canola oil. "As long as the two countries maintain the principles of reciprocity, equality and mutual respect, there is nothing we can't resolve." He warned Carney that his government must adhere to the principles of mutual trust, find common ground and seek mutually beneficial outcomes. He said that if these principles were not followed there would be negative consequences. Reporting by PromitMukherjee and Maria Cheng; Editing by Caroline Stauffer & Rod Nickel
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French city dwellers switch from stifling apartment to cool hotel rooms
The heatwave in France this week was one of the worst ever recorded. Many city dwellers sought any refuge they could find. They checked into hotels for air conditioning and pools. On Wednesday, temperatures in 'Paris' reached a record of?40.9° Celsius (105.62° Fahrenheit), a day after France had its hottest recorded day since records began. Few private apartments, especially in the capital with its dense population, have air conditioning. Around three-quarters (75%) of Paris roofs are made of sheets of zinc. This material is a heat-absorber and conductor. This has caused a rush for hotels in both cities and outside. Residents?Veronique savoye said that air-conditioned hotels in the historic city Tours, in western France, were almost full this week. She said she was "unable to think straight" because of the heat at home, and so checked into a?hotel in the area for a 4-night stay until Friday. She said, "It is about sleeping better and being more comfortable." Matthieu Evrard said that he was inundated by requests. It is an extraordinary phenomenon. "I get between five and 10 people per day contacting me directly through different connections in order to book rooms at our hotels," said he. "With the heatwave everything has been filled in just two weeks." His group operates Les Maisons de Campagne, a countryside hotel brand with two properties in the Yvelines department, roughly 45 minutes from Paris -- the ?Chateau de Villiers-le-Mahieu, set in a 12-hectare park, and the Maison du Val ?in Saint-Germain-en-Laye. The two are now fully booked, despite the fact that neither have air conditioning. Instead, they rely on ceiling fans, and the natural cooling of thick stone walls. He said that the surrounding countryside, as well as the pools, at both locations, added to the appeal of Parisians who were eager to leave their apartments. Many had children with them whose schools closed due to the heat. Savoye said that a hotel stay is not for everyone. However, she decided to spend a portion of her vacation budget on the room. It was what I would call a "staycation." It was well worth it for me." (Reporting and editing by Sanjeev miglani, Jan Harvey and Mathieu Patton)
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China's industrial profits remain resilient despite the economy's reliance on exports and factories
In May, profits at China's industrial companies grew at a slower pace but still in double digits. This highlights a widening divide within an economy that relies on factory output and exports to offset a weak domestic demand. The economy is still fragile due to a long-term property slump and structural imbalances which continue to weigh down on the domestic market. Companies that are trying to avoid the increasing competition in their home market face new uncertainty due to the prolonged Iran conflict. National Bureau of Statistics data showed that the profit growth of the industrial firms of the country in May was 21.1% compared to a year earlier, down from 24.7% in the month of April. The profits for January-May rose 18.8% over the same period last year, compared to an increase of 18.2% in the first four month. Zhaopeng Xing is a senior China strategist with ANZ. She said that the price increase was the primary driver for corporate profit 'growth. The earnings trends of different sectors have been very divergent. The profits of manufacturers of computers, communications and electronic equipment increased by 103.9% between January-May. This accounted for 43.1% growth of all industrial companies. Profits from non-ferrous ore mining, processing and exporting rose by 93.9%. Contrastingly, automakers' profits dropped 19.8%, despite strong exports. Furniture makers' profits plummeted 58.4%. TianchenXu, senior economics at Economist Intelligence Unit said that the differentiation highlighted the importance of de-escalation?of the Iran Conflict. As shipping through the Strait of Hormuz is resumed and oil prices drop internationally, we will see a gradual increase in profits. The U.S. Military attacked Iran on Friday as a response to an Iranian drone attack on a cargo vessel in the 'Strait of Hormuz. Each country accused the other of breaking the terms of the ceasefire agreement last week. Analysts expect Chinese policymakers will step up targeted assistance to stabilise corporate profitability, especially as consolidation accelerates within sectors that are grappling with excessive capacity and fierce competition. People familiar with the situation said that China's central banks had instructed certain commercial banks to increase lending in this month. This is the latest indication that the demand for credit is still weak, as the economy struggles with slow domestic consumption. China's factory gate inflation increased to a near four-year-high in May. Cost pressures squeezed corporate profits. The figures for industrial profit are based on firms that have annual revenues from their primary operations of at least 20,000,000 yuan (2,95,000,000 dollars). $1 = 6.7783 Chinese Yuan (Reporting and editing by Qiaoyi Li; Ellen Zhang, Shuyan Wan, Ryan Woo, and Ryan Woo)
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Two people were killed in Dnipropetrovsk, Ukraine by Russian drones and one person in Sumy.
Regional officials reported that a 'Russian drone strike' killed two people in a minibus on Friday in Ukraine’s Dnipropetrovsk Region and another in the bordering Sumy Region. Oleksandr hanzha, the Dnipropetrovsk regional governor, wrote on Telegram that two people were killed and 12 injured in the attack in Nikopol. Two of the victims were children. The town, located on the other side of the Dnipro River, from the Russian-held Zaporizhzhia Nuclear Power Plant, is often the target of Russian attacks. Oleh Hryhorov, the regional governor of the Sumy Region, said that a drone strike killed a man outside the main regional center, also known as Sumy. Mikhail Fedorov, the governor of the southeastern region of?Zaporizhzhia, said that two people had been injured by Russian strikes which continued for a day and damaged apartment buildings' facades. It was impossible to verify the independent accounts of either side. (Reporting by Ron Popeski; Editing by Sanjeev Miglani)
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Ambassador Carney says that China's Geely will ship the first Lotus EVs in Canada to Canada by July, under Carney-Xi agreement.
Wang Di, China's Ambassador to Canada, told? Wang Di, China's ambassador to Canada, told? The first Chinese-owned,?manufactured? vehicles will be sold under an agreement that allows for up to 49,000 Chinese electric vehicles to enter Canada at a reduced rate every year. Carney is trying to diversify Canada’s trade away the United States. Wang stated that "Geely EVs are coming to Canada next month, and there will be a ceremony in Montreal when the cars arrive." Lotus Cars didn't immediately respond to an inquiry for comment. The Global Affairs Department of Canada could not comment immediately on the expected arrival of the first cars. Wang stated that other Chinese brands?such Chery and BYD?are coordinating with Canadian agencies to complete the steps before they are allowed to ship to Canada. Canadian officials previously said that some cars were delivered earlier to allow the companies to test them in Canadian conditions. Wang, through an interpreter, said: "I hope that in the autumn of this year, other Chinese brands EVs will finish the procedures and enter the Canadian market." Stella Li, BYD's Executive Vice President, recently said that the company was likely to start selling next year. Tesla, based in the United States, has already imported Chinese made vehicles into Canada. Canada is also looking to attract joint-ventures and investments in the country's EV supply chains. Wang said Chinese electric vehicle makers were interested to set up joint ventures but first would focus on building sales. Carney's decision to permit Chinese EV imports was criticized by some U.S. officials. Trade expected to spike Carney said that Canada will increase its exports by 50% to China by 2030 during his visit to China in January. Wang Yi, China's minister of foreign affairs, said that exports to China could grow by 100 percent last month. Wang stated that to double Canadian exports in China, they will need to increase by nearly 15% per year for the next five. Wang also noted that Canadian exports are already up 27.5% since Carney’s visit. He said: "I think we could go beyond 100%. Maybe, we could reach 200%." Wang said Canada can supply China with nearly 22 million tons of crude oil annually, an increase from 15.5 million tons in the previous year. He stated that he thought China had "great potential" to purchase liquefied gas from Canada without providing any further details. Wang stated that Canada, as a major exporter for canola, peas, and beef, only supplies 2% of Chinese agricultural products, which highlights the vast market Canada could tap. He said that as long as we stay on the right track and move at the correct pace in the right direction there is a great deal of potential to grow our business. China reduced tariffs on certain?Canadian goods in March, but kept duties on canola and pork at 100%. The tariff relief for products such as canola meal and peas expires in the next few months, creating uncertainty among exporters. Wang declined to comment on whether China would continue the tariff suspension or lower tariffs on canola and pork. "As long?as the two countries uphold mutual respect, equality, reciprocity,... we will not be unable to resolve anything." He warned Carney that his government must adhere to the principles of mutual trust, find common ground, and seek mutually beneficial outcomes. He said that if these principles were not followed there would be negative consequences. Reporting by PromitMukherjee and Maria Cheng; Editing by Caroline Stauffer & Rod Nickel
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Stocks in the world are falling as a tech sell-off drags down markets
The global equity markets fell on Friday as investors continued to take profits from?highly-flying tech and chip stocks. Meanwhile, crude oil prices plummeted as more tankers left Strait of Hormuz. Wall Street's three major indexes ended slightly lower, as losses in the industrials, energy, and technology sectors offset gains in healthcare, real estate, and technology stocks. The Dow Jones Industrial Average was on track to post a weekly increase. Chip stocks fell 5.3%. This is the biggest weekly drop since March 2025. The Dow Jones Industrial Average dropped 0.09%. The S&P 500 fell 0.05%. And the Nasdaq Composite declined 0.24%. Mark Hackett is the chief market strategist for Nationwide. He said that it's a combination between a necessary and healthy consolidation period following the historic run from March and a drastic rotation away from tech. "Overall, this selloff is modest in context. I expect that we will resume higher once the consolidation period concludes, as investors are still buying at the dip and fundamentals remain strong." Apple's price?hikes sparked?concerns about structural inflation due to AI giants' massive spending and the limited availability of key components. European stocks dropped by nearly 0.7% and technology stocks by 1.17%. MSCI's Asian stock index outside Japan dropped by almost 3%. South Korea's KOSPI dropped as much as 5,8%. The MSCI index of global stocks fell by 0.53%, and the loss was expected to be 2% for the week. OIL PRICES FALL SHARPENLY Crude oil prices fell sharply on Friday due to easing supply concerns as more oil tankers left the Strait of Hormuz. This was despite a cargo ship being hit in Oman, on Thursday. Shipping data from LSEG shows that Saudi Aramco, the world's largest refiner, resumed oil loading at its terminal in Ras?Tanura on Friday after a nearly 4-month halt. Brent crude futures fell by 4.34% and settled at $72 a barrel. YEN WEAKNESS The yen was hovering near its lowest level in forty years against the dollar, at 161.76, above the 160 level which many consider to be a 'line in the sand' for Japanese authorities. The euro rose 0.14% to $1.1385, but was on track for its second consecutive loss against the US dollar. The dollar index eased, but was on track for a second consecutive weekly gain when compared to peers. The index dropped 0.16% to 102.35. Treasury yields fell. Treasury yields dropped. The yield on the benchmark U.S. 10-year note fell by 1.16 basis points, to 4.38%. The yield on the 2-year note, which is usually in line with expectations of interest rates for the Federal Reserve fell 2.48 basis to 4.096%. Spot gold increased 1.06%, to $4 068,72 per ounce. Reporting by Chibuike OGOH in New York, editing by Chizu Nomiyama & David Gregorio
Uphill roadway for Europe's climate strategy after EU election
A more rightwardleaning European Parliament will make it more difficult to pass ambitious EU environment policies, however most of Europe's present worldleading green policies are most likely to stay put, legislators, authorities and analysts said.
Provisional results in the European Parliament election on Sunday night showed centrist celebrations holding a bulk, but gains for conservative and far-right celebrations sceptical of the EU's. Green Offer package of ecological policies, and heavy losses. for Green parties.
I don't think that we'll be rolling back on (climate). policies. But I do think that it will be more complex to get. brand-new policies off the ground, Bas Eickhout, head of the European. Parliament's Greens legislator group, told .
EU climate measures over the next 5 years will depend upon. the inbound European Commission, which is responsible for. proposing EU laws. But the newly-elected European Parliament. will get a say on every brand-new green policy.
Sunday's election result signals harder maths to authorize. new EU environment measures.
All brand-new policies will be harder to pass. But backsliding is. extremely not likely, Krzysztof Bolesta, Poland's secretary of state. for environment, told .
It is possible that new ambition will be delayed, mainly. for populistic reasons, concurred Julian Popov, who up until April. was EU member Bulgaria's environment minister.
That might have consequences for an upcoming 2040 EU. environment target, required to guide the EU towards its 2050 net zero. emissions target. The EU Commission has actually recommended the 2040 objective. should be an enthusiastic 90% emissions cut, however it needs approval. from both EU countries and the Parliament.
The upcoming European Commission and Parliament will likewise. face tough decisions on whether to introduce brand-new policies to. push industries towards that 2040 target.
That includes farming, a sector whose emissions have hardly. fallen since 2005. However after months of protests across Europe by. angry farmers, there is little political hunger to target the. sector with brand-new guidelines, particularly if the cost of abiding by. them would increase food rates for people currently dealing. with the greatest dive in living costs in a generation.
Shares in renewable energy companies were
knocked
lower by concerns the election results might slow the green. energy transition.
Wind turbine makers, Vestas and Nordex. , were down more than 3% on Monday. Orsted. was down 0.5%.
NO BIG U-TURN
While brand-new environment procedures might deal with a tougher trip, a. full-scale turnaround of the lots of EU environment policies passed. in the last 5 years would be lawfully difficult.
Those policies - which include renewable energy targets and. a strengthened carbon prices routine on power and industry - are. repaired into EU law and currently being rolled-out across the bloc's. 27 member states.
Many are currently working. EU emissions are down by almost a. third from 1990 levels, and Europe is setting up wind and solar. energy capability at record speed.
Still, the election project saw mounting calls from the. right to ditch some Green Offer policies - with a prime target. the EU's 2035 ban on brand-new gas and diesel cars. That policy has. a 2026 review provision, on which the Parliament will get a say.
It was an ideological folly, which definitely need to be. corrected, Italian Prime Minister Georgia Meloni informed online. publication Open recently.
3 EU diplomats singled out the 2035 automobile policy as one. that European Commission President Ursula von der Leyen will. face considerable pressure to damage, consisting of from some. legislators in her centre-right European People's Celebration who want. it scrapped. Von der Leyen needs assistance from a majority of. legislators in the brand-new European Parliament to win a second term.
But broad environment policy rollbacks are not likely, officials. and analysts said. That's partially due to the fact that the EU's existing. climate steps amount to deliver its 2030 environment target - to. cut net greenhouse gas emissions 55% from 1990 levels - which. national governments and legislators both authorized into EU law.
There may well be changes in private pieces of. legislation, however what will be important to watch is how this. builds up, stated Mats Engström, senior fellow at the European. Council on Foreign Relations think-tank.
DON'T CALL IT A 'GREEN' OFFER
Contrary to the last EU election in 2019, when millions of. young environment protesters required to Europe's streets, this year's. campaign saw environment modification took over by problems consisting of. immigration, financial issues and having a hard time European industries.
Fulfilling the EU's 2030 climate target will require. financial investments of 1 trillion euros per year, a dive of around 356. billion annually compared to 2010-2020, according to the. European Financial Investment Bank.
Purchasing local markets was a project pledge throughout. the political spectrum, as competitors sharpens with the U.S. and China to produce green tech like low-carbon steel and. electric cars.
Some experts stated this focus would see the EU pass more. funds and policies to support climate-friendly projects - however. with the concentrate on helping industry, instead of being green. and tidy.
If it has to do with scaling up manufacturing of green. technologies here in Europe, then that may be carried out in the name. of 'commercial competitiveness' and not for the climate, said. Linda Kalcher, Executive Director at think-tank Strategic. Perspectives.
It may be that we see the rhetoric shifting, but the. action on the ground being the same, Kalcher said.
(source: Reuters)