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Trump Threatens to Cut Tesla, SpaceX Subsidies Amid Feud With Elon Musk

Jul 01, 2025 05:41 am UTC| Politics Business

U.S. President Donald Trump has threatened to revoke government subsidies for Tesla and SpaceX, escalating a public feud with Elon Musk over a controversial tax and spending bill. In a post on Truth Social Monday night,...

Renault to Record €9.5B Loss on Nissan Stake After Accounting Shift

Jul 01, 2025 05:32 am UTC| Business

Renault (EPA:RENA) announced it will record a non-cash loss of approximately 9.5 billion ($11.2 billion) on its 35.7% stake in Nissan (OTC:NSANY) for the first half of the year. The French automaker said the adjustment...

Xiaomi Delivers 25,000 EVs in June Amid Rising YU7 Demand and Tesla Pressure

Jul 01, 2025 05:31 am UTC| Business

Xiaomi (HK:1810) reported over 25,000 electric vehicle deliveries in June, marking the ninth straight month above the 20,000-unit threshold. While the company didnt provide an exact figure, Junes performance slightly...

Elon Musk’s xAI Raises $10B for Supercomputer, Grok AI Expansion

Jul 01, 2025 05:30 am UTC| Technology Business

Elon Musks artificial intelligence venture, xAI, has secured $10 billion in funding to fuel its rapid growth in the competitive AI sector, according to Morgan Stanley. The funding consists of $5 billion from secured notes...

Hershey to Eliminate Synthetic Dyes from Snacks by 2027 Amid Health Push

Jul 01, 2025 05:27 am UTC| Business

Hershey Co plans to remove synthetic dyes from all its snack products by the end of 2027, Bloomberg News reported, aligning with rising consumer demand for cleaner labels and recent U.S. health policy shifts. The move...

Trump Blames AT&T for Conference Call Glitch with Faith Leaders

Jul 01, 2025 01:40 am UTC| Politics Business Technology

U.S. President Donald Trump publicly criticized ATT (NYSE:T) on Monday after experiencing technical difficulties during a major conference call with American faith leaders. Trump claimed the wireless carrier failed to...

Nissan Seeks Supplier Payment Delays Amid $3.8B Cash Crunch

Jul 01, 2025 01:31 am UTC| Business

Nissan Motor is requesting payment delays from some suppliers in the UK and EU to improve short-term cash flow, according to internal emails and documents reviewed by Reuters. The move comes as the Japanese automaker...

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Economy

Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes

Brent crude oil prices have tumbled more than 11% this week after the United States and Iran agreed to a two-week ceasefire, raising hopes that the Strait of Hormuz one of the worlds most critical oil shipping lanes ...

Bank of Japan Governor Signals Accommodative Stance Amid Negative Real Rates

Bank of Japan Governor Kazuo Ueda reaffirmed on Thursday that Japans real interest rates remain firmly in negative territory, signaling that the countrys financial conditions continue to support economic growth. His...

Japan Consumer Confidence Drops Sharply Amid Rising Fuel Costs and Middle East Tensions

Japans consumer confidence took a significant hit in March, declining for the first time in three months as escalating fuel costs linked to the ongoing Middle East conflict continued to weigh heavily on the countrys...

China Set to Exit Deflation Cycle in Early 2026, ANZ Analysts Say

China may be closer to ending its prolonged deflationary period than financial markets currently anticipate, according to a recent note from ANZ analysts. The bank projects that three key price indicators the producer...

Asian Currencies Hold Steady as Middle East Ceasefire Doubts Weigh on Markets

Asian currencies showed little movement on Thursday following strong gains in the prior session, as investor caution mounted over the stability of a U.S.-Iran ceasefire deal amid escalating Middle East tensions. The U.S....

Politics

Trump Warns Iran: No Deal Means Military Action as U.S. Forces Hold Position

President Donald Trump escalated tensions with Iran on Wednesday, declaring that all U.S. military assets including ships, aircraft, and personnel would remain stationed in the region until a formal agreement with Tehran...

U.S. Pushes for Crypto Regulation to Keep Digital Asset Growth at Home

Treasury Secretary Scott Bessent is calling on Congress to pass landmark federal cryptocurrency legislation, warning that regulatory uncertainty is pushing blockchain innovation and investment out of the United States. In...

North Korea Tests Advanced Cluster Bombs, Electromagnetic Weapons in Latest Military Display

North Korea has conducted a series of weapons tests this week, showcasing cutting-edge military technology including cluster-bomb warheads, electromagnetic weapons, and carbon-fibre bombs, according to state media outlet...

Trump Pardon Clears Juan Orlando Hernández as U.S. Court Dismisses Drug Conviction Appeal

A U.S. federal appeals court has dismissed the case against former Honduran President Juan Orlando Hernández, vacating his prior conviction following a presidential pardon granted by Donald Trump in December. The...

Taiwan Defense Budget: U.S. Senator Urges Legislature to Pass Spending Plan

Republican Senator Jim Banks visited Taipei and delivered a direct message to Taiwans President Lai Ching-te: the islands parliament must stop stalling and approve a proposed special defense budget. Banks, a member of the...

Science

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

Technology

Bank of America Identifies Top Asia-Pacific Semiconductor Stocks Poised for AI-Driven Growth

Bank of America has spotlighted a select group of Asia-Pacific semiconductor companies well-positioned to ride the wave of surging artificial intelligence chip demand, with Taiwan Semiconductor Manufacturing Company...

China's AI Stocks Surge as Zhipu and MiniMax Hit Record Highs

Chinese artificial intelligence stocks continued their remarkable rally on Thursday, with Zhipu AI and MiniMax Group posting strong gains in Hong Kong trading as a wave of new model launches and product announcements...

Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts

Bendigo and Adelaide Bank delivered an impressive financial performance in its third quarter, reporting a 12.8% surge in cash earnings to A$137.9 million for the three months ending March 31. The result came in roughly 12%...

Alibaba Shares Slide as Jefferies Slashes Price Target Over AI Spending and Business Losses

Alibabas Hong Kong-listed shares (HK:9988) dropped 2.9% to HK$122.70 on Thursday, emerging as one of the heaviest drags on the Hang Seng Index, which closed 0.6% lower. The selloff came after investment bank Jefferies...

Anthropic Fights Pentagon Blacklisting in Dual Federal Court Battles

A federal appeals court in Washington, D.C., has refused to halt the Pentagons national security blacklisting of AI company Anthropic, delivering a temporary win for the Trump administration. The ruling comes as another...