US crypto firm Ripple applies for national bank charter, says CEO
A national bank charter would allow Ripple to process payments directly, reduce costs, and gain access to central banking services
US House of Represntatives advances Trump tax and spending bill toward final vote
The bill includes extended tax cuts, immigration enforcement, and cuts to healthcare and social programs
US lifts license rule, clears ethane exports to China
Following the removal of the license rule, at least eight vessels head to China after remaining idle along the U.S. Gulf Coast
Xiaomi to consider EV exports starting in 2027
The company plans to focus on meeting strong demand in its domestic market until then
US semiconductor company settles export case for $4.25 million over Huawei shipments
Company sent 1,650 power controllers, smart power stages, and accessories to Huawei without approval, Commerce Department
Paramount agrees to pay $16 million to settle Trump suit over Kamala Harris interview
The settlement allocates the funds to Trump’s future presidential library and includes no apology or admission of wrongdoing, Paramount says
OpenAI says it is not part of Robinhood token offer
Robinhood says it will give EU users 5 euros in OpenAI and SpaceX tokens if they register to trade stock tokens by July 7
Chinese automaker Changan plans European factory to support EV sales
Changan sold 600,000 vehicles outside China last year and aims to increase that number to 1 million in 2024, executive says
Nike, Levi’s and others gain after U.S.-Vietnam trade deal
Nike shares rise 4%, Under Armour gains 2%, Levi Strauss is up nearly 2%, and On Holding increases by 3%
Meta’s Instagram outage hits thousands of users in the U.S.
The outage gain attention on other platforms, with users sharing posts about the disruption
EU seeks private funding to lead in quantum technology
EU tech chief says only 5% of global private investments in quantum technology currently go to Europe, and increasing that share is a priority
WHO calls for countries to hike prices on sugary drinks, alcohol and tobacco by 50%
The organization estimates the plan could raise $1 trillion by 2035, based on data from countries like Colombia and South Africa
Giorgio Armani profit drops 24% in 2024
Net revenues drop 5% at constant exchange rates to 2.3 billion euros
BYD’s off-road brand Fangchengbao offers new discount on Huawei smart driving tech
The price of Huawei’s Qiankun Intelligent Driving High-end Function Package is 12,000 yuan, down from the usual 32,000 yuan
X begins recovery after brief outage in the U.S.
More than 15,000 users report problems with the platform