BUSINESS
How Xiaomi succeeded where Apple failed
Xiaomi’s design team, led by former BMW designer Li Tianyuan, has defended the SU7’s aesthetics, emphasizing that the choices were driven by aerodynamic efficiency and performance benchmarks
WORLD
Russia, Iran relegated to the periphery as awkward BRICS guests
Brazil’s Luiz Inacio Lula da Silva, hosting the two-day meeting of BRICS countries, took center stage, flanked by South Africa’s Cyril Ramaphosa and PM Modi on either side
WORLD
Nations chase US trade deals as US treasury secretary Bessent hints at extension
Trump and Bessent’s latest remarks suggest talks remain fluid and deals are elusive three days before the original deadline
BUSINESS
Asian shares cautious on trade angst, oil falls
Indexes in Japan, Australia and South Korea posted small declines after Trump administration officials signaled August 1 as the date for higher levies to kick in and said some countries may get more time to negotiate deals.
BUSINESS
Howard Lutnick says Trump’s tariffs will take effect on August 1
“Tariffs go into effect Aug. 1 but the president is setting the rates and the deals right now,” Lutnick said alongside Trump.
WORLD
How US Secret Service is leading a global pushback against crypto frauds
The agency best known for protecting US presidents has become one of the world’s biggest crypto custodians
WORLD
Trump’s tariff date arrives after a 90-day rollercoaster
The wielding of unilateral tariffs is upending a system that for decades encouraged lower barriers to commerce under rules enforced by the World Trade Organization.
WORLD
OPEC+ will boost supply even faster with larger August hike
Eight key alliance members agreed to raise supply by 548,000 barrels a day at a video conference on Saturday
WORLD
BlackRock halted Ukraine fund talks after Trump’s election win
BlackRock decided to pause talks with institutional investors due to a lack of interest amid increased uncertainty over Ukraine’s future.
WORLD
BRICS set to condemn ‘coercive’ tariffs, draft statement shows
In a draft statement prepared for their meeting in Brazil starting Sunday, leaders will voice “serious concern” about unilateral tariff and non-tariff measures.
BUSINESS
What killing tax credits means for electric vehicle market
On Thursday, Republicans in the US House sent a bill to President Donald Trump’s desk that kills tax credits of up to $7,500 for EV customers that were part of the 2022 Inflation Reduction Act.
BUSINESS
OPEC+ considers accelerating oil production more than expected
Since April, OPEC and its partners have pivoted from years of output restraint to reopening the taps, surprising crude traders and raising questions about the group’s long-term strategy.
BUSINESS
US ambassador says ‘win-win’ trade deal with Canada is within reach
“We’ve got two guys that are negotiating for each of our countries,” Pete Hoekstra told an audience during an Independence Day party in Ottawa.
WORLD
China exempts major EU brandy makers from anti-dumping duty
The duties of as much as 34.9% will be imposed on European brandy shipments from July 5, according to a statement from China’s Ministry of Commerce.
BUSINESS
US says GE Aerospace can restart jet engine exports to China
The action, combined with the other moves such as the lifting of curbs on chip design software exports, marks a further sign of easing trade frictions.
BUSINESS
Canned-food producer Del Monte Foods files for bankruptcy
The bankruptcy filing is the latest turn in a challenging year for the borrower that saw its parent company Del Monte Pacific Ltd. in June elect to skip a payment to the unit’s lenders as part of a lawsuit settlement tied to its restructuring last year.
COMMODITIES
Gold set for weekly gain as investors weigh rates, trade impact
Bullion traded near $3,330 an ounce to be up around 1.7% this week. It ended the previous session 0.9% lower when US payroll figures surprised on the upside, while the unemployment rate came in lower than expectations.
INDIA
Early monsoon rains in India raise hopes of a bumper grain crop
India is forecast to receive above-normal rainfall in July, the wettest month of the monsoon season, according to the India Meteorological Department
BUSINESS
Jane Street restrained from accessing India’s securities market
SEBI has been investigating Jane Street’s derivatives trades after some market participants alleged manipulation by the US firm.
WORLD
Jobs report takes pressure off Fed despite signs of weakness
The latest jobs figures showed US employers added 147,000 jobs last month, exceeding estimates, while the unemployment rate ticked lower to 4.1%, according to the Bureau of Labor Statistics.
BUSINESS
India may allow GM animal-feed imports from US in trade deal
Indian and US officials have been engaged in intense negotiations to iron out differences in a bid to secure a deal before a July 9 deadline.
WORLD
House Republicans clear critical hurdle in Trump tax bill debate
The House finally voted 219-213 to essentially move toward a final vote on Trump’s 'big beautiful bill'
BUSINESS
Shrinking profit margins unwind popular ‘Make in India’ trade in electronics
The unwind marks a turning point of a trade once central to the bullish case about India’s manufacturing ascent
BUSINESS
Swiggy, Eternal, other Indian top e-comm stocks outrun Chinese peers on profit hopes
Shares of Swiggy Ltd. climbed 20% last month, topping the NSE Nifty 100 Index, while Eternal Ltd. advanced 11%
