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As part of a broader tax reform bill, Republicans in the U.S. House of Representatives proposed Monday to kill the electric vehicle credit and repeal fuel efficiency regulations designed to encourage automakers to build more zero-emission cars. The proposal is scheduled for a House Ways and Means Committee Hearing on Tuesday. It would repeal the $7,500 tax credit for new vehicles and the $4,000 credit for used vehicles on December 31, but it would keep the credit for new cars for an extra year for automakers who haven't sold 200,000 electric cars. Genevieve Cullen - the president of the Electric...

Covestro, a German chemical company, cut its core profit forecast for 2025 on Tuesday and announced that it would continue to produce in the same area as it sells. This is because higher U.S. import tariffs are threatening the earnings of the chemical manufacturer. The company has narrowed its range of expected earnings before interest tax, depreciation, and amortization for 2025 to 1 billion to 14 billion euros ($1.13b to $1.59b). The company had forecasted EBITDA to be in the range of 1.0-1.6billion euros. Covestro and LyondellBasell announced that they had both permanently closed their Propylene Oxide Styrene Monomer production...

The International Court of Justice dismissed Sudan's claim that the United Arab Emirates were fueling genocide by supplying arms to paramilitary groups in Darfur, saying they lacked jurisdiction. Sudan complained to the U.N.'s highest court that the UAE violated the Genocide Convention in Darfur by supporting paramilitary groups, but the UAE said it should be dismissed. The court agreed with the UAE arguments on Monday, rejected Sudan's demand for emergency measures, and ordered that the case be removed. A summary of the ruling stated that due to the lack jurisdiction, "the court's statute prohibits it from taking any positions on...

Sudan informed the International Court of Justice that the United Arab Emirates violated the Genocide Convention on Thursday by supporting paramilitary groups in Darfur. The UAE, however, argued that the case should not be heard as the court lacks jurisdiction. Sudan requested that the judges issue an emergency order to prevent the attacks of the paramilitary Rapid Support Forces (RSF) and other Arab militias in West Darfur in 2023, which were documented by. The United Arab Emirates are complicit in the genocide of the Masalit, according to Sudan's acting Justice Minister, Muawia osman. The UAE have repeatedly dismissed Sudan's case...

The U.S. president Donald Trump announced on Wednesday a 25% tariff for imported cars and light vehicles starting next week. This move will likely increase prices and slow production, according to auto industry experts. What are your reactions? NATIONAL FOREIGN TRADE COUNCIL (NFTC), WHICH REPRESENTS A LOT OF U.S. COMPANIES. VP TIFFANY SMITEH "Placing tariffs against imports of automobiles could damage the competitiveness and export-readiness of an industry which relies on international supply chains and market integration for its success. We urge the administration, to prioritize the market opening opportunities of auto companies that manufacture vehicles for export from the...

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. ESSO - The French oil company Esso announced its results for the full year on Wednesday. Its adjusted EBITDA was 58 million Euros and it will propose a dividend of 3 euro per share. SANOFI, French pharmaceutical company announced on Thursday an agreement with Dren Bio to acquire its autoimmune disease treatment DR-0101 from Dren Bio. Sanofi plans to purchase Dren-0201 at a price of $600,000,000 upfront and $1.3 Billion in future payments. SODEXO - French food caterer SODEXO lowered...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Elon Musk led a consortium of investors to offer $97,4 billion for the nonprofit OpenAI. This raised the stakes in the battle between him and Sam Altman regarding the company behind ChatGPT. Donald Trump, the President of the United States, announced on Monday 25% tariffs on steel and aluminum imports to the U.S. He also reinstated global duties for allies like Canada, Mexico and South Korea, which were relaxed under the Biden administration. Elliott Investment Management, a...

The "wait and watch" period for North American businesses is over. U.S. president Donald Trump imposed a 25% tax on goods coming from Canada and Mexico along with a tariff of 10% on China. This could be the beginning stages of a full scale trade war that will cause new headaches to executives who have already been dealing with rising costs for years. Tariffs on imports from the U.S.’s three biggest trade partners could disrupt industries ranging from consumer goods to autos. Before Saturday's announcement of tariffs, executives were able to dodge questions regarding the issue. Many wanted to avoid...

A Russian court has actually purchased web company Yandex to conceal access to maps and pictures of among Russia's largest oil refineries due to continuous attacks by Ukrainian drones, state news agency TASS reported on Friday. Yandex, frequently described as Russia's Google, operates the nation's largest search engine and other online services like maps, translate and email, along with ride-hailing and food delivery. The court in Moscow ordered Yandex to omit information about the refinery's facilities from its search results page by getting rid of and editing images of workshops, compressor stations and other parts of the plant from Yandex...

The U.S. Energy Department on Monday said it has actually finalized a $9.63 billion loan to a joint venture of Ford Motor and South Korean battery maker SK On to assist fund building of three new battery manufacturing plants in Tennessee and Kentucky. The low-priced government loan for the BlueOval SK joint venture is the largest ever from the federal government's Advanced Innovation Cars Production loan program. SK On is the battery system of energy group SK Development. The last award - initially reported - is among a. series of actions by the Biden administration to improve electrical. vehicle production...

The U.S. Energy Department on Monday said it has settled a $9.63 billion loan to a joint venture of Ford Motor and South Korean battery maker SK On to help finance construction of 3 new battery manufacturing plants in Tennessee and Kentucky. The affordable federal government loan for the Blue Oval SK joint venture is the largest ever from the government's Advanced Innovation Cars Manufacturing loan program. SK On is the battery system of energy group SK Innovation. The amount is greater than the $9.2 billion conditional commitment announced in June 2023 and comes simply weeks before President-elect Donald Trump...

Battery maker Automotive Cells Business (ACC) is set to sign a brand-new loan to fund the second production block of its gigafactory in northern France, a. business representative stated, as it increases output in spite of Europe's. slow electric car market. The loan, guaranteed by ACC's 2 primary investors, automobile. makers Stellantis and Mercedes-Benz Group,. deserves around 1 billion euros ($ 1.05 billion), two sources. knowledgeable about the matter said, verifying a report by paper. Les Echos. Stellantis and Mercedes did not react to ask for. comment. Smaller sized investor TotalEnergies decreased to. comment. The factory already operates one production...

On Thursday, during the visit of Prime Minister Narendra Modi to the UK, Britain and India signed an historic free trade agreement. The deal will reduce tariffs on products from textiles to cars and whisky. It will also allow businesses to have more access to markets. The following are the main points of the Agreement: Tariff Cuts India will reduce tariffs on almost 90% of UK products. Whisky and Gin levy will fall from 150% down to 75% then 40% within a decade. Tariffs on automobiles will fall from 100% plus to 10% under the quota. Other goods, such as...

The trade war between the United States and Japan, which has impacted businesses from chip makers to steel producers, caused a downturn in results. However, Japan's agreement lifted stocks as well as hopes that Europe could reach a similar deal. Investors cheered the news of a new trade agreement between Japan and the United States, which will lower tariffs on auto imports while sparing Tokyo from new taxes on other goods. This news sparked hopes of a deal being reached with the European Union before the Trump administration's August 1 deadline. Results from Texas Instruments, SSAB, and other steelmakers showed...

Chinese rare earth magnets are now flowing into the automotive supply chain, reducing the threat of mass closures. However, automakers and suppliers still say that production plans face uncertainty and there is a risk of shortages. Nils Poel is the head of market affairs for supplier association CLEPA. He said that European suppliers received enough licenses to prevent widespread disruptions earlier this month. However, hundreds of permits are still pending. He said that the rate of issuance has "accelerated" from 25% to 60%, but in cases where end users are located in the United States or products are transported through...

Tesla's European new car sales fell by 27.9% from a year ago in May, even though sales of fully-electric vehicles in the region jumped by 27.2%. The revised Model Y has yet to show any signs of reviving Tesla's fortunes. The European Automobile Manufacturers Association's (ACEA) data showed that overall car sales in Europe increased by 1.9%. Plug-in hybrids grew the most, followed by cars using alternative fuels. Why it's important Tesla's European Sales have fallen for the fifth consecutive month as customers opt for cheaper Chinese EVs, and in some cases protest against Elon Musk. Tesla's European Market Share...

Tesla's European new car sales fell by 27.9% from a year ago in May, even though sales of fully-electric vehicles in the region grew by 27.2%. The revised Model Y has yet to show any signs of reviving Tesla's fortunes. The European Automobile Manufacturers Association's (ACEA) data showed that overall car sales in Europe increased by 1.9%. Plug-in hybrids and alternative fuel cars saw the biggest growth. Why it's important Tesla's European Sales have fallen for the fifth consecutive month as customers opt for cheaper Chinese EVs, and in some cases protest against Elon Musk. Tesla's European Market Share dropped...

Andy Russick sells cans of fruit and tomatoes to major U.S. supermarkets, such as Kroger, and hospitals and schools. He shares the stated goal behind U.S. president Donald Trump's war on trade - combating cheap Chinese imports. When U.S. tariffs were doubled on steel and aluminum imports to 50%, on June 4, Andy Russick's company, Pacific Coast Producers, was collateral damage. Since 2017, Chinese fruit cocktail, vegetables, and other canned food imports from Southeast Asia and Europe are flooding U.S. grocery shelves, undercutting comparable products made in the United States. Russick stated that this trend will accelerate due to the...

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. ArcelorMittal ArcelorMittal, a German steelmaker, has dropped plans to convert its two plants to carbon-neutral production due to the high energy targets set by Germany. Eutelsat After a capital increase of 1.35 billion euros, the French state will be Eutelsat's largest shareholder. The aim is to make it more competitive with Elon Musk and Starlink. LightOn LightOn has been selected by Ariane Group’s Sodern on Thursday to industrialise AI generative within a safe framework. PostNL Dutch parcel delivery company PostNL...

Argentex announced on Monday that it had rejected a proposal by Lavide Holding NV, based in the Netherlands, to acquire a 50% stake of the British currency risk management company for 2.5 million pounds (3.39 million dollars) and a possible provision of a credit line up to 15 million pounds. The British company refused the proposal because it did not cover the entire share capital or provide sufficient funding compared with an agreement made with IFX Payments. According to LSEG, Lavide has a current market capitalisation worth 3 million euros. Argentex experienced a near-total collapse of value after it halted...

A group of auto suppliers from the United States has called for immediate action in response to China's restrictions on rare earths and minerals, as well as magnets. They warn that the issue can quickly disrupt auto part production. China, which controls 90% of the global processing capacity for rare Earths, used in everything from cars and fighter jets, to home appliances and household appliances, implemented restrictions in April, requiring exporters obtain licenses from Beijing. The new restrictions were imposed after the U.S. and China began a trade dispute following President Donald Trump's tariffs against Chinese imports. The Vehicle Suppliers...

The tariffs imposed by Donald Trump since his inauguration on January 20, 2017 have sent shockwaves through financial markets, and uncertainty has spread throughout the global economy. This timeline shows the major events: Trump imposes tariffs of 25% on Mexican imports, 10% on Chinese goods and most Canadian imports from February 1. He demands that they reduce the flow of illegal immigrants and fentanyl into the United States. Trump agrees to a 30-day suspension of his tariff threat against Mexico and Canada in exchange for concessions made on border security and criminal enforcement. The U.S. doesn't reach a similar deal...

NATO Secretary General Mark Rutte stated on Monday that, he believes the alliance will agree to an overall defence spending target at 5% of their gross domestic product when they meet in The Hague for a summit next month. Rutte, speaking at the NATO Parliamentary Assembly meeting in Dayton, said: "I expect that we will reach an agreement in The Hague on a target for a high defense spending of 5%." He added: "Let's assume that 5% of the total hard spending is a target. I won't say how it breaks down, but the amount will be north of 3%....

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. ARCELORMITTAL Bloomberg News, citing an individual familiar with the deal, reported that Aditya Mittal is the CEO of the steelmaker and will invest $1 billion into a group buyout of the Boston Celtics. EURONEXT It announced on Thursday that the stock exchange operator had placed convertible bonds until 2032, totaling 425 million euro ($481.14million), at a fixed coupon of 1.5% annually. The group of real estate investors announced Thursday that it had completed an bond buyback totaling 265 million euro....