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Porsche slows electric shift, prompting VW profit warning
German sports car maker Porsche said Friday that it would dramatically slow its shift to electric vehicles amid weak demand, prompting parent company Volkswagen to warn of a multibillion-euro hit. The maker of the 911 sports car cited the "significant slower growth of the demand for exclusive battery-electric vehicles" as a reason for making the changes.
Independence of central banks tested by Trump attacks on US Fed
For months, US President Donald Trump has been piling pressure on the Federal Reserve over delayed cuts to interest rates, casting the institution's independence into doubt. Cutting interest rates helps households borrow for consumption and businesses for investment, promoting growth but at the risk of spurring inflation.
New Fed governor says was not told how to vote by Trump
Donald Trump's pick to join the US Federal Reserve said Friday that he did not speak to the president about how to vote on interest rates ahead of the central bank's meeting this week. Miran was the sole dissenter to the Fed's decision this week to cut interest rates by a quarter point, instead favoring a bigger half-point reduction -- more in line with Trump's frequent demands for slashing rates.
Sweden offers $23 bn to finance nuclear power construction
Sweden's government said Friday it was ready to offer up to 220 billion kronor ($23.3 billion) in loans to utilities for the construction of new nuclear reactors as the Nordic country commits to developing more nuclear power. "The framework is based on expected lending for the construction of new reactors totalling 220 billion kronor over 12 years," the government said in a statement.
Ukraine courts foreign cash for military 'Silicon Valley'
At the opening of Ukraine's biggest defence tech fair, arms executives and government officials were welcomed by a giant movie screen blaring an action-style trailer with heavy base undertones. "It's like watching the sequel of 'Don't Look Up'," he said, referring to the dystopian movie where scientists try to alert oblivious and disinterested officials about an imminent catastrophe.
Tariff uncertainty delays World Cup orders for China's merch makers
Tariff fears are hurting World Cup merchandise orders at Shang Yabing's Chinese knitwear factory, where racks of scarves bear the logos of national teams from Ireland to Tanzania. "We've been in this industry for over 10 years, and we've produced World Cup-related merchandise for nearly every tournament in that time," Shang said.
China's Xiaomi to remotely fix assisted driving flaw in 110,000 SU7 cars
Chinese consumer tech giant Xiaomi will remotely fix a flaw in the assisted driving system on over 110,000 of its popular SU7 electric cars, the firm and regulators said Friday, months after a deadly crash involving the model.
Asian markets fluctuate as focus turns to Trump-Xi, BoJ
Asian markets swung Friday at the end of a strong week for investors following the US interest rate cut, with attention now turning to a call between Donald Trump and Xi Jinping. With that in mind, even figures showing a sharp drop in initial jobless claims for last week did little to dampen expectations that rates will continue to be cut.
Netflix seeks 'Money Heist' successor in Spanish hub
In a cavernous studio outside Madrid teeming with TV industry stars, Netflix is blending old knowledge with modern technology to try to concoct a successor to its global hit "Money Heist". Migue Amoedo, visual artistic director of "Billionaires' Bunker", described "Money Heist" as "the turning point of the industry", saying they now had "the recipe" for repeating its success.
AFP
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