Economy
Officials see no shortages from likely US port strike
New York officials said on Monday they were prepared for a likely US dockworkers strike, reassuring consumers that they would not lose access to food and other essential goods. "We don't anticipate shortages of essential goods anytime soon," said state Governor Kathy Hochul.
Shares in Stellantis, Aston Martin skid on profit warnings
Shares in Jeep-maker Stellantis and Britain's Aston Martin tumbled on Monday after both companies joined European rivals in cutting their profit forecasts. - China effect - Aston Martin also cited the Chinese market as it trimmed its financial guidance for 2024, saying its core profit is now expected to be "slightly below" the previous year's.
ECB chief backs bank mergers amid UniCredit, Commerzbank talk
ECB chief Christine Lagarde said Monday that cross-border banking mergers in Europe were "desirable" to boost their competitiveness, despite mounting German opposition to a potential tie-up between Commerzbank and Italy's UniCredit.
California governor vetoes AI safety bill
California Governor Gavin Newsom has vetoed a bill aimed at regulating powerful artificial intelligence models following pushback from tech giants and critics who argued the law went too far.
German antitrust watchdog steps up monitoring of Microsoft
Germany's anti-cartel watchdog said Monday it had placed US tech giant Microsoft under closer surveillance for any possible abuse of its market position. The Federal Cartel Office said it had determined Microsoft was "of paramount significance for competition across markets", a move that would allow the watchdog to take action and prohibit "anti-competitive practices".
EU states plan Friday vote on Chinese EV tariffs
EU member states are expected to vote on whether to slap hefty tariffs on imported electric cars from China on Friday, European diplomats said on Monday. The European Commission, in charge of EU trade policy, plans to levy additional duties of up to 36 percent on electric vehicles imported from China but the issue has divided the bloc.
E.Guinea, Gabon clash at ICJ over oil-rich islands
Gabon and Equatorial Guinea faced off on Monday at the International Court of Justice, hoping to resolve a decades-old scrap over the sovereignty of three disputed islands in potentially oil-rich waters. Gabon argues that a later treaty signed in 1974 -- the Bata Convention -- gives it sovereignty over the islands.
New blow for UK's Starmer as growth data disappoints
Britain's economy grew less than initially estimated in the second quarter, revised official data revealed Monday, dealing another early blow to new Prime Minister Keir Starmer and his Labour government.
Japan's next PM eyes snap election, reports say, as stocks sink
Japan's incoming prime minister Shigeru Ishiba is poised to call snap elections for October 27, local media reported Monday, as equities plunge on a strong yen and fears that tax hikes are on the cards. Ishiba is finalising plans to dissolve parliament on October 9 ahead of general elections on October 27, local media reported on Monday.
Economy
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