Xiaomi receives 289,000 orders for YU7 within one hour of launch
Xiaomi plans to work with BYD, GAC Toyota, and Zhengzhou Nissan to develop a connected ecosystem linking cars, homes, and smart devices
UK vehicle production falls for fifth month in a row
Total car and commercial vehicle production declined 32.8% from a year earlier to 49,810 units, the sharpest fall for May since 1949
Shipping rates from China to U.S. decline to $2,500 from $6,000 per container
The World Container Index falls 9% this week for the second week in a row after five weeks of gains
U.S. drops plan to tax foreign investors after global tax deal
US Treasury Secretary says new G7 deal exempts U.S. firms from OECD’s 15% minimum tax, which lets other countries collect if home tax is lower
Global public debt hits $102 trillion, developing countries face mounting interest payments: report
Developing nations account for one-third of debt, with $921bn spent on interest, hindering progress towards SDGs
Apple changes App Store terms in EU under regulatory pressure
The company now allows developers to send users to external payment systems using unlimited links
India, Russia discuss supply of remaining S-400 missile systems, upgrades to Su-30 MKI fighter jets
Defence ministers of both countries meet on the sidelines of the Shanghai Cooperation Organisation summit in China
UK regulator reviews Boeing’s deal to acquire Spirit AeroSystems
In 2024, Boeing agreed to buy back Spirit AeroSystems for $4.7 billion in stock to regain control of key manufacturing operations
FATF urges stronger action against illicit crypto finance, warns of global repercussions
With virtual assets inherently borderless, regulatory failures in one jurisdiction can have global consequences, says Paris-based watchdogÂ
IMF raises Saudi Arabia’s 2025 GDP growth forecast to 3.5% despite lower oil prices
Non-oil sector, Vision 2030 projects and domestic demand to drive growth amid $27 billion fiscal deficit
EU weighs fast-track trade deal with U.S. as Trump tariff deadline looms
Most member states favour quick resolution over prolonged negotiations as bloc faces pressure from existing and threatened U.S. tariffs
Dollar plunges to three-year low as markets rally, concerns mount over Fed’s independence
Trump’s possible replacement of Powell, rising gold, and record global stocks fuel investor uncertainty
Bangladesh orders rooftop solar panels on public buildings amid energy crisis
Interim government pushes rapid solar rollout to ease fuel imports, eyes private investment model
Pearson signs AI education deal with Google Cloud
These partnerships are intended to strengthen Pearson’s digital learning offerings and give educators more tools to personalise instruction
Tesla robotaxi test in Austin shows multiple driving issues
Videos from passengers show problems such as sudden braking, entering the wrong lane, and stopping in intersections or the middle of roads