Finance news

◇ unclassifiedgermany · europe · usa

Business ticker: EU development bank grants Airbus a record three billion euro loan

British American Tobacco apparently wants to cut 9,000 jobs +++ Deko chain Depot closes 66 branches +++ Fewer visitors at the Eurobike bicycle trade fair +++ News in the company live blog.

Malaysia narrows hunt for replacement missiles after Norway axes contract

Malaysia has narrowed its search for a replacement anti-ship missile system to four potential suppliers after Norway revoked an export licence for a deal that Kuala Lumpur said was already more than 90 per cent paid for. The cancellation came after Oslo tightened arms-export rules in a shift that analysts say reveals how access to advanced arms can depend as much on supplier-country politics as on signed contracts. Turkey, South Korea and two unspecified European nations were being assessed as..

Economy: Business climate in the euro area is improving

The mood among consumers and companies in the euro zone improved in the first half of the year. Nevertheless, the barometers remain at a low level.

◇ unclassifiedgermany · europe · australia

Aviation: Record sum: EU development bank invests three billion in Airbus

The European Investment Bank is intended to help finance EU priorities - such as security and defense. The development bank is providing Airbus with more money than ever before to any company.

◇ unclassifiedgermany · europe · china

Geely E5: Geely wants to convince the Germans with this SUV

The Chinese car giant Geely is bringing its core brand to Germany. The Chinese are starting their offensive with two models that seem surprisingly European.

Telecommunications: BT and Verizon form multi-billion dollar corporate customer joint venture

The telecommunications companies BT and Verizon are pooling their international corporate business. The joint venture has sales of four billion dollars.

ECB: Lending to companies in the euro area is increasing

The institutes extended four percent more loans to companies than a year ago. The money supply M3, which is important for interest rate policy, also rose surprisingly.

◇ unclassifiedgermany · europe · australia

Aviation: EIB grants Airbus record loan of three billion euros

The development bank wants to strengthen Europe's technological autonomy. For this purpose, it is providing Airbus with a record sum. The loan is also a response to the end of the old subsidies.

ASML: Here artificial intelligence depends on Europe

The machine manufacturer ASML can hardly be replaced anywhere in the world. This is also due to European strengths. A visit to a company without which nothing works in the semiconductor industry worldwide.

12d06/29⚠ war-conflict · 2/5

Beyond the obvious: Digital Colony Europe

Why Germany is dramatically falling behind when it comes to artificial intelligence.

◇ unclassifiedgermany · europe · china

Business ticker: South Korea wants to invest 569 billion euros in chips and AI

Apple wants an exception for China chips from Trump +++ Fewer visitors at the Eurobike bicycle trade fair +++ SpaceX moves up in US indices +++ News in the company's live blog.

Paris mortuaries overwhelmed as Europe’s record heat drives up death toll

Every few minutes, the mortuary owner’s phone rings. Since a record-smashing heatwave started taking lives and storage space for bodies in Paris and beyond, the funeral directors and mourning families calling him mostly have the same question: do you have room for one more? With all 32 places in his cold room taken, Zouhaeir Hertelli reluctantly has to gently say “Non”, over and over and over again. “We’re facing a really catastrophic situation,” he said. “I’m getting hundreds of calls.” As the.

Artificial intelligence: Baidu AI division Kunlunxin is apparently planning an IPO

Baidu's Kunlunxin division wants to go public in Hong Kong. The AI chip maker is aiming for a valuation of around $50 billion.

China’s aircon scarce in Europe, Wu Chun’s luggage ordeal: 5 weekend reads you missed

We have put together stories from our coverage last weekend to help you stay informed about news across Asia and beyond. If you would like to see more of our reporting, please consider subscribing. 1. China’s AI-powered laser mosquito zapper goes viral after crowdfunding success 2. Why Malaysia’s tourism boom lives and dies on a Chinese app 3. As Europe sizzles amid extreme heat, the hunt for China’s aircon remains elusive 4. Cathay Pacific says sorry to actor Wu Chun over 3-day luggage delay...

◇ unclassifiedchina · asia · usa

China’s first AI-powered cancer vaccine production line set to launch in Beijing

China has broken ground on what developers say is the country’s first production line for AI-assisted personalised tumour vaccines, raising hopes for millions of new cancer patients every year – a disease that ranks as the nation’s second-leading cause of death. By October, Beijing-based Likang Life Sciences is expected to complete a new drug research and manufacturing centre in the Beijing Economic and Technological Development Zone, with a total investment of about 110 million yuan (US$16.1...

◇ unclassifiedchina · asia · germany

EU confronts ‘China shock’ ahead of pivotal Brussels trade talks

European Union leaders had a week to bask in their rare, relatively united stance on China policy before news broke to remind them of the urgency of their task: German car giant Volkswagen was reportedly planning up to 100,000 job cuts in the face of cutthroat Chinese competition. Seven days previously at a European Council summit in Brussels, leaders from the EU’s 27 member states had instructed the European Commission to accelerate its efforts to fight back against what is seen as a damaging..

◇ unclassifiedusa · korea

Samsung, SK Hynix shares fall as investors brace for reported $1.3 trillion spending plans

Shares of Samsung Electronics and SK Hynix plunged after reports surfaced that the pair are expected to unveil investment plans worth hundreds of billions of dollars.

◇ unclassifiedchina · asia

Sovereign investors with US$29 trillion pivot to energy assets, flag dollar fears

Sovereign wealth funds and central banks managing US$29 trillion in assets are turning to energy assets, and raising concerns about the dollar, in a portfolio reassessment driven by unprecedented geopolitical shifts, according to a survey ‌published on Monday by independent global investment management firm Invesco. The survey of 90 sovereign wealth funds and 54 central banks showed an increasing focus on diversification, and investment portfolios that can “take a hit and still hold it together”

Artificial intelligence: Baidu AI division Kunlunxin is apparently aiming for an IPO with a valuation of $50 billion

Potential investors were asked to purchase chips worth three to seven times their planned subscription volume. There was no immediate comment from Baidu.

Autonomous driving: VW apparently ends alliance with Bosch for autonomous driving

According to insiders, the car manufacturer wants to end the “Automated Driving Alliance”. Around 1.5 billion euros have already been invested in the project.

13d06/28⚠ war-conflict · 3/5

How is China shaping up in the global competition to sell air defence weapons?

Chinese firms joined their global competitors at Eurosatory, the recently concluded arms fair, where the latest air defences were the centre of attention in a market made more important by the drone warfare seen in Ukraine and the Middle East. Experts said China could anticipate sales from the Global South thanks to its cost efficiency, but geopolitical constraints would continue to bar it from US-allied countries that were looking for combat-proven and interoperable systems. China’s largest...

13d06/28⚠ war-conflict · 2/5

If you think China needs to dethrone U.S. dollar, you don't understand how it is waging global currency war

It's misguided to focus on China's renminbi replacing the U.S. dollar. Beijing is already successfully reducing dependence on a dollar-centric global system.

◇ unclassifiedusa · china

◇ unclassifiedchina · asia · usa

The final insurance frontier: Hong Kong spots opportunity in mainland China’s space boom

Elon Musk’s recent record-breaking SpaceX IPO has thrust the space economy into the financial mainstream, but mainland China’s trillion-yuan commercial space sector remains strikingly underinsured – a gap industry insiders say presents a rare opportunity for Hong Kong. On the mainland, only third-party liability insurance is mandatory for commercial space activities. Coverage for research and development, manufacturing, testing, launches and in-orbit operations remained largely optional,...

Forget the ‘Sell America’ trade: Why U.S. markets keep proving the naysayers wrong

Foreign investors are still pouring money into U.S. assets, and the dollar remains the undisputed global reserve currency.

◇ unclassifiedusa

Bonds: Big Tech issues billions in bonds in the euro area: What does this mean for European corporate bonds?

US technology companies such as SpaceX, Nvidia and Amazon have issued bonds for $219 billion since January. This is also what concerns companies and investors in Europe.

13d06/28⚠ war-conflict · 3/5

High construction costs: Why a place in a nursing home costs 9,000 euros

The rooms in nursing homes are often as expensive as in luxury hotels. A visit to a construction site in Cologne shows why this is the case.

◇ unclassifiedgermany · europe · uk

13d06/28⚠ war-conflict · 3/5

China isn’t Europe’s real problem

Generals losing a war examine the enemy, battlefield and their own forces. Brussels prefers a different sequence, ordering new weapons first and worrying about the diagnosis later. That instinct was on display at the recent European Council meeting. Faced with a trade deficit it cannot close and dependencies it cannot shake, the European Union agreed on a new label: “global macroeconomic imbalances”. To solve them, European Commission president Ursula von der Leyen was reportedly directed to...

OHB boss in conversation: “Europe’s space travel wouldn’t exist without France”

Germany is heavily arming itself, including in space. This makes the Bremen company OHB a key player. Its boss also comments on the criticism from the French.