China’s Ministry of Commerce in Beijing.Visual China Group | Getty ImagesThe U.S. and China have further confirmed the details of the trade agreement reached by both sides earlier this month in London, which will implement the Geneva consensus, according to a statement released by China’s Ministry of Commerce Friday afternoon.China will review and approve the export applications of items under export control rules, while the U.S. will cancel a range of existing restrictive measures imposed against China, a spokesperson for the ministry said in the statement.The statement came after U.S. President Donald Trump said Thursday at an event in the…
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Autos stocks riseA Porsche at the New York International Auto Show on April 16, 2025.Danielle DeVries | CNBCEuropean autos stocks notched gains during early trade on Friday, as investors reacted to the White House saying the looming deadline for country-specific tariffs to come into effect was “not critical” and “could be extended.”The moves also came after Beijing said it had agreed with Washington on the details of a trade agreement negotiated in London earlier this month.Europe’s Stoxx Automobiles and Parts index, which has shown sensitivity to U.S. trade policy announcements this year, was last seen trading around 1.5% higher.Top movers…
General view of Land Rover cars outside the Jaguar Land Rover factory on April 7, 2025 in Halewood, England.Richard Martin-roberts | Getty Images News | Getty ImagesU.K. vehicle production fell sharply for a fifth straight month in May, according to new figures, as headwinds including U.S. President Donald Trump’s trade policy hit the automotive industry hard.Data published Friday by the U.K.’s Society of Motor Manufacturers and Traders (SMMT) found that the U.K.’s new car and commercial vehicle production volumes fell by 32.8% to 49,810 units last month.It means that, excluding 2020, when factories were shuttered during Covid-19 lockdowns, U.K. vehicle…
Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., speaks during the company’s annual general meeting in Tokyo, Japan, on Friday, June 27, 2025. Bloomberg | Bloomberg | Getty ImagesSoftBank is “all in” on OpenAI, CEO Masayoshi Son said on Friday, as the Japanese tech giant looks to realize its vision of “artificial superintelligence.”This year, the Japanese multinational conglomerate has been increasing its investments in OpenAI and participating in joint ventures such as the $500 billion Stargate project. According to Son, SoftBank is now “all in” on the artificial intelligence company, with total planned investments in the company reaching…
The theft of luxury cars is highly sophisticated and widespread, with Range Rovers just one of a number of targets for organized crime groups.Picture Alliance | Picture Alliance | Getty ImagesCars are being stolen and shipped from the U.K. within 24 hours, according to a new report which found thefts are costing British consumers and the economy billions of pounds.Organized criminal gangs are driving the surge in car thefts in the country, the Royal United Services Institute (RUSI) defense and security think tank said in a report published Thursday, with U.K. vehicle theft rising by 75% in the past decade…
CNBC’s Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Sign up to receive future editions.BRUSSELS, BELGIUM – DECEMBER 04: Logo of the NATO on December 04, 2024 in Brussels, Belgium. (Photo by Florian Gaertner/Photothek via Getty Images)Florian Gaertner | Photothek | Getty ImagesOverview: NATO holds out its hand to the commercial space sectorNATO’s agreed to open its wallet wider, and space and defense players are likely lining up to benefit. The military coalition’s brand-new commercial space strategy adds the cherry on top.Now inked, at the vocal behest of U.S. President…
Fund managers are getting more bullish on defense stocks, with recent conflicts in the Middle East, the Indian subcontinent as well as NATO allies’ pledges to raise defense spending boosting prospects of the arms industry. The sector has seen robust gains this year and analysts suggest the interest in defense will grow further. The MSCI Europe Aerospace and Defense Index (USD) has surged about 70% this year, according to LSEG data, while the iShares US Aerospace & Defense ETF (ITA) has gained more than 25%. The U.S. defense ETF hit a fresh all-time high on Thursday morning stateside, while the…
Portrait of journalist Bill Moyers.Hugh Patrick Brown | The Chronicle Collection | Getty ImagesBill Moyers, the former White House press secretary who became one of television’s most honored journalists, masterfully using a visual medium to illuminate a world of ideas, died Thursday at age 91.Moyers died in a New York City hospital, according to longtime friend Tom Johnson, the former CEO of CNN and an assistant to Moyers during Lyndon B. Johnson’s administration. Moyers’ son William said his father died at Memorial Sloan Kettering in New York after a “long illness.”Moyers’ career ranged from youthful Baptist minister to deputy director…
The saying, “No, no, a thousand times no” remains a relevant cry as a news report suggests President Donald Trump may preemptively name a new Federal Reserve chairman nearly a year before Jerome Powell ‘s term expires. The Wall Street Journal reported on Wednesday that the president has already narrowed his choices down to several candidates to replace Powell, who he has referred to as a ” dummy ” or ” stupid ” for not having already cut interest rates as the president wants him to do. Naming a new Fed chief this early, effectively creating a so-called “shadow” chair…
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