Apple signs $500 million deal with MP Materials for U.S. rare earth magnets
The agreement includes a $200 million prepayment and will supply magnets for Apple devices starting in 2027
U.S. consumer prices rise 0.3% in June as tariffs begin to take effect
The annual inflation rate climbs to 2.7% in June, up from 2.4% in May
Bank of England Governor urges IMF to lead in addressing global economic imbalances
Bailey says large U.S. trade and current account deficits, combined with China’s surpluses and weak domestic demand, require multilateral action
Mexico fines three financial firms $9.8 million after U.S. sanctions prompt action
Finance ministry says most of the fines relate to money-laundering prevention rules, while others apply to failures in meeting reporting requirements
Musk’s X faces EU complaints over use of sensitive user data for targeted advertising
Nine civil society groups say X may be breaching the Digital Services Act, which prohibits advertising based on user data
Waymo expands driverless service across major U.S. cities amid Tesla rivalry
Waymo operates around 1,500 vehicles and offers robotaxi services in San Francisco, Los Angeles, Phoenix, Austin, Atlanta, and other Bay Area locations
Canada’s inflation rises to 1.9% in June, up from 1.7% in May
One of the core measures of inflation, the CPI-median, which tracks the middle of the price distribution, rises slightly to 3.1% in June from 3% in May
Uber and Baidu partner to launch robotaxis outside U.S. and China
Baidu currently operates a fleet of more than 1,000 autonomous vehicles and has completed over 11 million rides in cities including Dubai and Abu Dhabi
Air India crash rekindles debate over cockpit video recorders
Supporters say cockpit video can fill gaps left by voice and data recorders, while critics argue privacy risks and potential misuse outweigh the limited benefits
Google signs record $3 billion hydropower deal for clean energy
The deal includes 20-year power purchase agreements worth $3 billion from two hydropower plants in Pennsylvania
Wetlands vanish at fastest rate, risking $39 trillion loss by 2050, report says
Since 1970, 22% of wetlands including rivers, lakes, mangroves and coral reefs have vanished, totaling around 411 million hectares
BYD unveils smart connectivity with leading Chinese smartphones
The system is designed to work with major Chinese smartphone brands, including Huawei, Xiaomi, Oppo, and Vivo
Chinese carmaker Geely to take its EV unit Zeekr private in $6.83 billion deal
Geely owns about 62.8% of Zeekr and plans to buy the remaining shares at $2.687 per share, or $26.87 per American depositary share
Huawei returns to No. 1 in China with 12.5 million shipments in second quarter
Apple ranks fifth in China’s smartphone market and ships 9.6 million units in second quarter, down 1.3% from previous quarter’s 9% drop
Nvidia’s China chip sales tied to rare earth trade deal, sparks U.S. backlash
H20 AI chips set for return under U.S. licence; lawmakers warn move could endanger national security amid China tech race