Vestas, the world's number one wind turbine maker, said Thursday it swung to a 75-million-euro ($80-million) loss in the first quarter and warned "geopolitical volatility" would continue to cause uncertainty. "In 2024, continued geopolitical volatility is expected to cause uncertainty.
The president of Chinese electric vehicle maker XPeng on Friday criticised the fresh tariffs on Chinese cars imposed by Washington as "unfavourable" for the United States' energy transition. "The tariffs are unfavourable to its own climate and energy transition."
The sharp drop in prices for minerals critical to the green energy transition is masking a looming shortage due to inadequate investment, the International Energy Agency said Friday.
Boeing's annual meeting on Friday comes amid an exceptionally difficult period for the crisis-ridden company, creating potential for drama at an event that is usually a snooze-fest. The company, under heavy regulatory scrutiny following recent safety and quality control problems, has defeated shareholder proposals at past annual meetings that usually have lasted an hour or less.
A top Chinese economic official said Friday the state could buy up commercial real estate in a bid to boost the country's ailing housing market, currently battling an unprecedented debt crisis. And in a bid to boost the ailing market and ensure millions of unused homes go to those in need of housing, Beijing's State Council met Friday, state news agency Xinhua said.
Russian leader Vladimir Putin was in the northeastern city of Harbin on Friday, the final day of a visit aiming to promote crucial trade with China and win greater support for his war effort in Ukraine. Putin will hold a press conference with Russian media later in the day.
Chinese leaders are meeting Friday with top housing officials to discuss a possible plan for the government to buy millions of unsold homes in a bid to support the struggling property sector, Bloomberg reported. Among those plans could be a scheme by Beijing to have local governments purchase millions of unsold homes across the country, Bloomberg said.
Asian markets diverged Friday as hopes for US interest rate cuts played up against profit-taking from another strong week and warnings from Federal Reserve officials that borrowing costs should be kept elevated for now.
President Joe Biden's government on Thursday announced it was ending coal leases in the Powder River Basin, the nation's largest coal-producing region, drawing condemnation from the mining sector and praise from environmentalists. It won't affect current coal leases in the region, which spans southeast Montana and northeast Wyoming.
A new exhibition opening in California this weekend traces the Jewish origins of Hollywood. The exhibition, which is on permanent display at the Academy Museum of Motion Pictures, takes its name from the original sign that loomed over downtown Hollywood.
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