Author: Arabian Media staff
Stay informed with free updatesSimply sign up to the Electric vehicles myFT Digest — delivered directly to your inbox.A new UK subsidy scheme designed to boost the sales of electric cars has created confusion across the industry and is likely to hit short-term sales and second-hand car prices over the longer term, automotive executives have warned. The application for the £650mn grant kicked off on Wednesday, but carmakers will have to wait for weeks to learn which of their models will be eligible for the subsidies. Only Nissan has said its new electric Leaf model, which will be produced at…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The European Commission has stalled one of its investigations into Elon Musk’s X for breaking the bloc’s digital transparency rules, while it seeks to conclude trade talks with the US. Brussels was expected to finalise its probe into the social media platform before the EU’s summer recess but will miss this deadline, according to three officials familiar with the matter. They noted that a decision was likely to follow after clarity emerged in the EU-US trade negotiations. “It’s all tied up,” one…
The release of China’s second-quarter growth data this week embodied a dilemma for the country’s policymakers: real economic expansion was strong and steady at 5.2 per cent but widespread falling prices meant nominal growth was much weaker, at 3.9 per cent.Solid real growth reflects the expansion of Chinese industry and exports — but nominal growth is what Chinese workers feel in their wage packets and Chinese companies see on their revenue line.It also means that interest rates, when deflation is taken into account, are much higher, leading to an ongoing, contentious debate about whether China should follow the path of…
Global central banks face a dilemma over whether to embrace stablecoins or promote alternatives to the new technology, as the US’s aggressive backing of privately issued tokens thrusts the fast-growing sector into the financial mainstream.This week, politicians in Washington are advancing legislation to ban the Federal Reserve from issuing a digital currency and provide a regulatory framework for privately issued stablecoins. For the Trump administration, such tokens, which are mostly backed by dollar assets, offer a vehicle to project the strength of the greenback globally. But the Bank for International Settlements, the umbrella body for central banks, last month warned…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The value of Chinese companies’ new investment and construction contracts in countries that are part of President Xi Jinping’s global Belt and Road Initiative has hit a record high this year, a new study has found.The expansion in overseas markets and China’s increased engagement with countries under its flagship BRI infrastructure programme contrast starkly with the approach of the US, where President Donald Trump is imposing bruising tariffs on trading partners around the world. Chinese construction contracts and investments in BRI members…
Higher tariffs put in place by the Trump White House this year have started to increase inflation, and these effects are likely to increase in the coming months, New York Fed President John Williams said Wednesday. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Canada’s Alimentation Couche-Tard has withdrawn its record-breaking $50bn proposal to acquire Japan’s Seven & i Holdings, bringing an end to its year-long campaign to pull the 7-Eleven owner to the negotiating table on friendly terms.Couche-Tard, which owns Circle K, on Thursday said a lack of “constructive engagement” by Seven & i led to its decision to withdraw the unsolicited takeover proposal that would have resulted in the largest deal for a Japanese company by a foreign group.“There has been no sincere or…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.United Airlines said “acceleration” in demand amid declining geopolitical and economic uncertainty should help it avoid the previous quarter’s “recessionary” forecast for full-year earnings.The more optimistic outlook came as the carrier reported second-quarter results that were below Wall Street forecasts, but included revenue that topped $15bn for the first time.The biggest US airline by revenue on Wednesday said beginning in early July it had seen a 6-point acceleration in overall demand and a double-digit acceleration in business bookings compared to the second…
Until very recently, shares of Opendoor Technologies Inc. had largely been left for dead. But over the past week, retail traders swapping stock tips on social media have helped bring them back to life. Source link
This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters hereGood morning and welcome back to FirstFT Asia. In today’s newsletter: Trump’s latest attack on the Fed chairUS set to ban Chinese tech in submarine cablesFT investigates US immigration detention facilitiesDonald Trump asked lawmakers whether he should fire Federal Reserve chair Jay Powell in a move that fuelled a fresh bout of concerns over the central bank’s independence and hit the dollar. What happened: Trump asked…