U.S. proposes rule to allow oil and gas output from shared leases
The new rule would mainly affect onshore oil and gas drilling in the western states
Trump media expands into TV streaming with Truth+
The company says it will continue testing the streaming service and collect feedback from users during the rollout
Brazilian president says world does not need an emperor after Trump threatens BRICS tariff
Lula says global trade needs alternatives to the dollar and calls for gradual change
Mercedes-Benz global sales fall 9% in second quarter due to tariffs
Sales of battery electric vehicles dropped 18% to 41,900 units during the April to June period
BYD to begin electric vehicle assembly in Brazil this month
The company plans to assemble 50,000 vehicles this year using imported kits, says SVP BYD Brazil
Chinese camera firm Hikvision to challenge Canada’s order to halt operations
Canada’s Industry Minister says the decision followed a review by national security and intelligence agencies
U.S. online spending to hit $23.8 billion during Amazon Prime Day event
Amazon extends the sale from 48 to 96 hours as other major retailers, including Walmart and Target, offer competing deals
Japan, South Korea face 25% tariffs as Trump ramps up trade war in letters to leaders
US president extends negotiating deadline to August 1; threatens BRICS nations with additional tariffs
Japan’s real wages fall 2.9% in May, steepest drop in 20 months
In contrast, nominal wages grow 1.0% to 300,141 yen, slow from a revised 2.0% increase and mark the slowest growth since March 2024
German industrial production rises 1.2 percent in May
Automotive production rises by 4.9 percent in May, energy by 10.8 percent, and pharmaceutical output by 10 percent
Apple files appeal against 500 million euro EU fine
The company says the Commission is trying to control how Apple runs the App Store and enforce unclear terms for developers and users
Samsung expected to report 39 percent drop in second-quarter profit
Samsung continues to face challenges in getting its latest HBM3E 12-layer chips certified by Nvidia
Huawei denies claims that its Pangu Pro Moe model copied Alibaba’s Qwen 2.5
Alibaba’s Qwen focuses on consumer applications like chatbots, while Huawei’s Pangu models serve government, finance, and manufacturing
Trump announces delivery of tariff letters to nations begins today
Tariff letters are scheduled to be delivered worldwide beginning at 12 p.m. ET (9 p.m. Pakistan time) today
Thailand offers zero tariffs on U.S. goods to avoid trade penalties
Finance Minister Pichai Chunhavajira warns that Thailand’s economy may grow just over 1% this year due to the tariff impact