Workers assemble cars on the assembly line at the Volkswagen automobile factory on March 07, 2025 in Wolfsburg, Germany.Sean Gallup | Getty Images News | Getty ImagesChina appears to have offered U.S. and European auto giants something of a reprieve after industry groups warned of increasing production threats over a rare earth shortage.China’s Ministry of Commerce on Saturday said it was willing to establish a so-called “green channel” for eligible export license applications to expedite the approval process to European Union firms. A Ministry of Commerce spokesperson said Wang expressed hope that the EU would take “reciprocal steps” and adopt…
Author: usaeverydaylife
TangMan Photography | Getty ImagesU.S. President Donald Trump’s top trade officials are meeting their Chinese counterparts in London on Monday for talks aimed at resolving an ongoing trade dispute between the world’s two largest economies.U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are representing the U.S.China’s foreign ministry said on Saturday that Vice Premier He Lifeng, Beijing’s lead trade negotiator, will be in the U.K. between June 8-13, and that a meeting of the “China-U.S. economic and trade consultation mechanism” would take place.The talks come after Trump last week said that he had held…
Jakub Porzycki | Nurphoto | Getty ImagesLONDON — Britain’s financial services watchdog on Monday announced a new tie-up with U.S. chipmaker Nvidia to let banks safely experiment with artificial intelligence.The Financial Conduct Authority said it will launch a so-called Supercharged Sandbox that will “give firms access to better data, technical expertise and regulatory support to speed up innovation.”Starting from October, financial services institutions in the U.K. will be allowed to experiment with AI using Nvidia’s accelerated computing and AI Enterprise Software products, the watchdog said in a press release.The initiative is designed for firms in the “discovery and experiment phase”…
Here are the opening callsLONDON, ENGLAND – MARCH 24: A red London double decker bus and a UPS delivery van pass across Waterloo Bridge in front of St. Paul’s Cathedral on March 24, 2025 in London, United Kingdom. (Photo by John Keeble/Getty Images)John Keeble | Getty Images News | Getty ImagesGood morning from London! This is CNBC’s live blog covering all the action in European financial markets as the new trading week begins.Futures data from IG suggests London’s FTSE will open 7 points higher at 8,836, Germany’s DAX up 3 points at 24,296, France’s CAC 40 up 5 points at 7,801 and Italy’s FTSE MIB 13 points…
The JISU FORTUNE ship carries over 5,000 vehicles at Taicang Port and makes its maiden voyage to European countries such as the Netherlands and Belgium in Suzhou City, Jiangsu Province, China, on May 22, 2025. Costfoto | Nurphoto | Getty ImagesChina’s exports growth missed expectations in May, despite a temporary trade truce with the U.S. that prompted businesses to frontload shipments and capitalize on the 90-day pause on steep duties.Exports rose 4.8% last month in U.S. dollar terms from a year earlier, customs data showed Monday, shy of Reuters’ poll estimates of a 5% jump.Imports plunged 3.4% in May from…
What exactly were we thinking starting a trade war without having this rare earth elements issue all buttoned up and ready to go? How did we get so far along in this contest of wills when we hadn’t invested the money to explore rare earth material refining and production in this country? The group of 17 minerals known as rare earths are used to make smartphones, tablets, speakers, touch screens, wind turbines, solar panels, robotics, advanced manufacturing, semiconductors, lasers, electric vehicles, and, yes, the F-35 fighter jet, which uses a huge amount of rare earth minerals. Given all that, shouldn’t…
A woman takes pictures with a Labubu doll at a Pop Mart store in Shanghai, China, on June 5, 2025.Ying Tang | Nurphoto | Getty ImagesChina’s consumer prices fell for a fourth consecutive month in May, as Beijing’s stimulus measures appear insufficient to boost domestic consumption, with price wars in the auto sector adding to downward pressure.The consumer price index fell 0.1% from a year earlier, according to data from the National Bureau of Statistics released Monday, compared with the median estimate for a 0.2% decline among analysts polled by Reuters.The CPI slipped into negative territory in February, falling 0.7%…
China ShenzhenReal444 | E+ | Getty ImagesAsian markets climbed Monday as investors awaited trade talks between Washington and Beijing later in the day, with focus also on key China data.Trade tensions are seemingly easing between the world’s top two economies as China has reportedly granted temporary approvals for the export of rare earths, while jetliner Boeing Co has begun commercial jet deliveries to the Asian superpower.China is slated to release a slew of data, including its consumer and wholesale inflation readings for May. Economists polled by Reuters expect consumer prices to have fallen by 0.2% year on year, while PPI…
FILE PHOTO: An international traveler arrives after U.S. President Donald Trump’s executive order travel ban at Logan Airport in Boston, Massachusetts, U.S. January 30, 2017. REUTERS/Brian Snyder/File PhotoBrian Snyder | ReutersPresident Donald Trump’s new ban on travel to the U.S. by citizens from 12 mainly African and Middle Eastern countries is set to take effect Monday amid escalating tension over the president’s unprecedented campaign of immigration enforcement.The new proclamation, which Trump signed on Wednesday, applies to citizens of Afghanistan, Myanmar, Chad, the Republic of Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen. It also imposes heightened restrictions…
Sam Altman’s identity verification venture World is launching its eye-scanning Orb product in the U.K.WorldLONDON — World, the biometric identity verification project co-founded by OpenAI CEO Sam Altman, is set to launch in the U.K. this week.The venture, which uses a spherical eye-scanning device called the Orb to scan people’s eyes, will become available in London from Thursday and is planning to roll out to several other major U.K. cities — including Manchester, Birmingham, Cardiff, Belfast, and Glasgow — in the coming months.The project aims to authenticate the identity of humans with its Orb device and prevent the fraudulent abuse…
