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Read previewUkraine has armed its naval drones with heat-seeking missiles, giving the systems a major upgrade that will allow them to target Russian aircraft patrolling around the Black Sea. "Such developments are effective — Russians are very afraid of them," the commander of "Group 13," a special HUR unit dedicated to operating the naval drones, said in a recent interview. AdvertisementA Ukrainian Magura V5 drone is seen on water during an exhibition of military equipment and weapons at an undisclosed location on April 13, 2024. Moscow, largely unable to stop Ukraine's unrelenting naval drone attacks, has turned to combat aircraft to patrol the waters and protect its warships. Kyiv has relied on its fleet of naval drones, as well as long-range missiles, to inflict these losses.
Persons: , HUR, Archer, Lloyd Austin Organizations: Service, Ukrainian, Directorate of Intelligence, Business, REUTERS, NATO, Sukhoi, MiG, Black, Grad, US Locations: Ukraine, Soviet, Moscow, Ukrainian, Kyiv
Kylian Mbappe suffered a fractured nose during France’s Euro 2024 win over Austria on Monday but will not undergo surgery at this time. AdvertisementThe 25-year-old was seen bleeding heavily from his nose as he was attended to by medical staff on the pitch. — Kylian Mbappé (@KMbappe) June 17, 2024Speaking before the diagnosis was confirmed head coach Didier Deschamps acknowledged the blow that losing Mbappe to injury would be for his side. Asked by French television channel TF1 if the fear was a broken nose, he said: “Apparently yes, his nose is not good at all. It’s so intense.”GO DEEPER The Briefing: Austria 0 France 1 - Mbappe's bloodied nose, pitch problems, Deschamps' dilemma(Michael Regan – UEFA/UEFA via Getty Images)
Persons: Kylian Mbappe, Kevin Danso, Mbappe, Des idées Organizations: Austria, Real, Dusseldorf Locations: Real Madrid, France, Netherlands
Written in capital letters, the manual is structured as a series of reminder lists under topics like PRE-PREP, which offers banal tips about the importance of checking weather reports and looking for surveillance cameras. The PREP section is more grim, with directives to set up a holding area and “stage” with equipment for apparent sexual torture. The BODY PREP list includes reminders on how to avoid leaving evidence. The manual is the most informative piece of narrative evidence disclosed since prosecutors filed legal papers after Mr. Heuermann’s arrest detailing investigators’ 18-month pursuit. In prosecutors’ hands, a document they say the defendant created to avoid detection may instead become damning evidence against him, even given the already disclosed DNA matches, phone records and internet activity that prosecutors say tie Mr. Heuermann to the killings.
Persons: Rex Heuermann, Heuermann, Organizations: Locations: Long
Within a week of the invasion, Mykhed, a renowned author who has published nine books, had enlisted in the Ukrainian Armed Forces, and his former home had been destroyed by a Russian attack. Central to the work is his view that the war is not Putin's but a war carried out by all Russians. It's not Putin who is pulling the trigger in Bucha," he says, referencing the massacre that took place in 2022. In late February, Ukrainian President Volodymyr Zelenskyy said 31,000 Ukrainian soldiers had been killed since Russia launched the invasion. Nevertheless, the war in Ukraine rages on, and Mykhed offers me a stark reminder of that fact when talking about his book.
Persons: , Oleksandr Mykhed, Olena, Lisa, Mykhed, Putin, It's, hasn't, Volodymyr Zelenskyy, Bucha, Chris McGrath, you'd Organizations: Service, Russia, Business, Ukrainian Armed Forces, United Nations Human Rights Locations: Ukraine, Ukrainian, Hostomel, Kyiv, Mykhed, Chernivtsi, London, Crimea, Bucha, Russia, Kharkiv
If the international expansion of Japanese companies is any guide, Chinese companies still have significant potential left in the global market. The company did not break out overseas revenue for the first quarter, but said overall revenue grew by 14% from a year ago to 3.8 billion yuan. When compared to Japanese companies, the contribution of overseas revenue to the total for Chinese businesses is low across industries. "We believe Zhejiang Dingli will benefit from strong boom lift sales growth, especially in the US market," the HSBC report said. I think the conversation has moved now more toward being tough on global trade or free trade," David Chao, global market strategist, Asia Pacific (ex-Japan), at Invesco, said during a webinar Thursday.
Persons: Steven Sun, Christine Peng, Anker, Dingli, Snibe, David Chao, — CNBC's Michael Bloom Organizations: HSBC, CSI, Japan's Nikkei, HSBC Qianhai Securities, UBS Asia Pacific, Companies, Amazon, Apple, Google, U.S . Commerce Department, Shenzhen New Industries Biomedical Engineering, Asia Pacific, U.S, Association of Southeast Asian Nations, Union Locations: China, Japan's, Shanghai, Germany, Indonesia, East, South America, Shenzhen, Zhejiang, Snibe — Shenzhen, U.S, Asia, Japan, Invesco, Singapore, The U.S
CNN —Fierce fighting is taking place around the Ukrainian town of Vovchansk as Kyiv’s troops seek to isolate Russian units that have advanced across the nearby border. Ukrainian soldiers of the 42nd Separate Mechanized Brigade set up positions on the front line near Vovchansk on June 12, 2024. DeepState – a Ukrainian monitoring group – says small groups of Russian soldiers have repeatedly attempted to secure the aggregate plant, but have been repelled by Ukraine forces. Suggesting that resupply to the Russian soldiers has become difficult, DeepState says that food and water are being delivered to them by drones. Russian military blogger WarGonzo said on Telegram that fighting in the area is “fierce” as “Ukrainian troops are carrying out counterattacks, trying to dislodge the Russian Armed Forces from their occupied positions” but did not mention troops being surrounded.
Persons: CNN —, Stanislav Buniatov, Osman, ” Buniatov, Viacheslav Ratynskyi, DeepState –, DeepState, WarGonzo Organizations: CNN, Kremlin, 42nd Separate Mechanized Brigade, Reuters, Russian Armed Forces, Russian Ministry of Defense, Ukraine’s Ministry of Defense Locations: Vovchansk, Ukrainian, Kharkiv, , Russian, Belgorod, Ukraine, Kharkiv region, Ukraine’s
CNN —Raw sewage, swarms of flies and mosquitoes, garbage piled high in the streets. As the heat of summer gathers, hundreds of thousands of people in Gaza are contending with a crisis in sanitation. Ismail Zayda, who lives in Gaza City in the north, told CNN that water supplies had been cut off for nine months. Roads ‘full of sewage’Zayda, the Gaza City resident, told how an out-of-service swimming pool in his had become a magnet for insects. The treatment of sewage amid damage to infrastructure and a lack of fuel has become an enduring problem in Gaza.
Persons: Ismail Zayda, , Gaza –, , Abed Rahim Khatib, Benjamin Netanyahu, Mahmoud Issa, Reuters OCHA, ” OCHA, ” Zayda, Carl Skau, Assem, Khan Younis, Deir Al Balah Organizations: CNN, Anadolu, United Nations Security Council, UN Office, Humanitarian Affairs, Reuters, AFP, Getty, UN, International Committee Locations: Gaza, Gaza City, Deir al, Deir al Balah, Rafah, , Gaza City Municipality, Khan
Representatives from the warring nations held peace talks in the early weeks of the Russian invasion. It was the only time that Ukrainian and Russian officials are known to have engaged in direct peace talks. This includes the Crimean Peninsula, which Mr. Putin annexed in 2014 in a swift operation that he considers central to his legacy. At another point, Russia’s lead negotiator, Mr. Medinsky, interrupted a video conference by claiming that Mr. Putin was phoning him directly. There were signs that Mr. Putin was micromanaging not only the Russian invasion but also the peace talks.
Persons: Vladimir V, Putin, , Putin’s, … ”, , Oleksandr Chalyi, Mr, Vladimir Medinsky, Oleksii Reznikov, Vladimir Putin, Leonid Slutsky, Medinsky, , Aleksandr Fomin, Reznikov, Ukraine’s, … “, Sergey Ponomarev, Ukraine —, Andrzej Duda, Duda, Putin “, Recep Tayyip Erdogan, Murat Cetin Muhurdar, Russia’s, Zelensky, , , , Daniel Berehulak, Davyd Arakhamia, ” “, Roman Abramovich, ” Mr, Arakhamia, Abramovich, micromanaging, Nanna Heitmann, France —, Laetitia Vancon, Kamala Harris, Volodymyr Zelensky, “ Putin, Marc Weller, Russia “, Weller Organizations: The New York Times, Ukraine, Kremlin, NATO, , Russian Federation, , European Union, West, Ministry, Times, Europe’s, Russian, Moscow, Donetsk People's, Nazi, U.S, Ukrainian, Turkish Presidential Press Service, Agence France, The Times, Russia, New York Times, stoke, Cambridge Locations: Ukraine, Russia, Moscow, Kyiv, Crimean, Switzerland, Ukrainian, Crimea, “ Ukraine, Republic of Crimea, Sevastopol, , … ” Russia, Russian, ” Russia, Istanbul, Geneva, Belarus, Western, Russia’s, Donetsk, Donetsk People's Republic, Luhansk People's Republic, Simferopol, Poland, Germany, France, European, Brussels, Turkish, Zelensky, , Great Britain, China, United States, Turkey, Canada, Italy, Israel, Bucha, Washington, Swiss, Russians
An early bet on artificial intelligence thanks to a simple investment framework is helping the T. Rowe Price's Global Technology Fund (PRGTX) outperform the market for a second straight year. "Our framework led us to be early to this AI trend, [and] led us to be early to the chip intensity of this AI trend." That's due in part to its winning bets in AI names and semiconductor stocks – many of which have outperformed the S & P 500 and Nasdaq Composite . Early bets on AI Key to the $4.5 billion fund's recent success has been early positions in AI stocks and chipmaking darling Nvidia . The AI leader — added to the fund at the end of 2021 — today accounts for nearly 18% of the portfolio.
Persons: Rowe, Dominic Rizzo, Rizzo, Rowe Price lifer, , Rizzo's, Siri, Morningstar Organizations: Global Technology Fund, Nasdaq, Nvidia, Taiwan Semiconductor Manufacturing, Devices, ASML, Apple, Microsoft, University of Chicago Booth School, Business, Worldwide Developers, Apple Intelligence, SAP
Read previewTaking a cue from Ukraine's use of naval drones to offset a superior Russian fleet, Taiwan has unveiled a much larger unmanned kamikaze boat that could devastate a Chinese amphibious force. But if not this one, Taiwan will certainly field some kind of unmanned attack boat to try to stop a Chinese invasion or blockade. AdvertisementBoth Taiwan and America are looking to what has become the gold standard in naval drone warfare: Ukraine's campaign in the Black Sea. Instead, Russia's Black Sea Fleet has retreated from Ukrainian waters. In part this is because of land-based anti-ship missiles such as the Neptune, which sank the cruiser and Black Sea Fleet flagship Moskva in 2022.
Persons: , Samuel Paparo, Paparo, Magura, Michael Peck Organizations: Service, Liberty Times, Business, Pacific Command, Washington Post, US, Sea Fleet, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Russian, Taiwan, China, America, Ukraine, Moskva, Japan, Forbes
Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latest annual report. The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high. The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics. Facing a “child care cliff”The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children. My First Adventure Child Care and Preschool serves 60 families but will close this summer.
Persons: Susan Elandt, ” Elandt, I’m, “ It’s, , Elandt, what’s, , Lydia Higgins, Higgins, ” Higgins, she’s Organizations: CNN, Nationwide, of Columbia, US Bureau of Labor Statistics, The Century Foundation Locations: Waupaca , Wisconsin, Wisconsin, Waupaca
A simple principle underpins a contentious Thursday decision by the U.S. and key allies to tap profits from Russian sovereign assets in support of Ukraine: Moscow must make reparations. Questions have also been raised over the legality of setting such a precedent: Russia has been cut off from its frozen assets, but retains their ownership. The proposal must now pass various legal hurdles and be backed by European states, where the majority of frozen Russian assets are held. Further loans secured against the interest accrued by Russian frozen assets could be forthcoming, U.S. Treasury Secretary Janet Yellen signaled on Thursday. The annual summit comes as most of the G7 leaders face their own domestic upheavals including national elections and falling approval ratings.
Persons: Charles Michel, CNBC's Steve Sedgwick, Joe Biden, Volodymyr Zelenskyy, Putin, we're, Biden, Michel, Janet Yellen, Yellen, We're, Russia's, Ursula von der Leyen, Georgia Meloni Organizations: U.S, West, . Security, Kyiv, Treasury, Bank, European Commission Locations: Ukraine, Moscow, Russia, Russian, Canada, France, Germany, Italy, Japan . U.S, Kuwait, U.S, Borgo Egnazia, Puglia
Trump argued, as he had before, that if he were president the war wouldn’t still be going. Opposed to additional Ukraine aid and openly skeptical of NATO, Trump could rip up the bilateral agreement Biden signed Thursday if he returned to office. Yet with uncertainty swirling around any American support in the future, the time to act appeared short. Biden pushes G7 to back reproductive rightsEven on an issue unrelated to Ukraine, Biden sought this week to consolidate G7 support in a way that would be unlikely if Trump were to return to the summit. American allies in Europe are collectively preparing for a second Trump administration with a sense both of trepidation and exhaustion.
Persons: Joe Biden, ” Biden, Volodymyr Zelensky, , , Donald Trump, Biden, Trump, John Bolton, doesn’t, Zelensky, , Putin, Ursula von der Leyen, Jake Sullivan, Ukraine “, Ukraine —, Giorgia Meloni Organizations: CNN, Republicans, Capitol, NATO, Trump, Biden, Democratic, White Locations: Italy, Ukraine, Washington, Kyiv, Paris, Iran, Russia, Puglia, Italian, Hiroshima, Japan, Europe, Sicily, haggling, Quebec, Biarritz
New York CNN —Alex Jones’ conspiracy empire is on the brink. If the judge rules in favor of Sandy Hook families, Infowars would be shuttered. In such a scenario, a court-appointed trustee would be tasked with securing the assets and then selling off Jones’ media empire, including the website, studio space, and broadcasting equipment. “Infowars would no longer exist,” Christopher Mattei, an attorney who represents some of the Sandy Hook families, explained this week to CNN’s Hadas Gold. But the attorneys representing Sandy Hook families expect that the most likely scenario is Jones’ Infowars empire will be sold off, piece by piece, with the proceeds going to their clients.
Persons: Alex Jones ’, Sandy Hook, Jones, Infowars, ” Christopher Mattei, ” Jones, Tucker Carlson, Dinesh D’Souza, Alex Jones, ” Mattei, , Organizations: New York CNN, Systems, Companies, Fox News, Voting Systems, America News, Salem Media Locations: New York, Texas, Newtown , Connecticut, Connecticut
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. After a more-than-20% surge this week on the back of a strong earnings report, Jim Cramer said he would sell some Broadcom on Friday if not for our restrictions. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jeff Marks, Jim, Jim Cramer's Organizations: CNBC, Nvidia, Broadcom, Apple, Microsoft, there's, GE Healthcare, Palo Alto Networks, Club, DuPont de Nemours, JPMorgan, Companies Locations: AVGO
On board the Russian warship visiting Cuba
  + stars: | 2024-06-14 | by ( Patrick Oppmann | ) edition.cnn.com   time to read: +5 min
But now I was in a line for something unexpected: to board a Russian warship docked in Havana’s harbor. When a Russian diplomat told me that starting on Thursday, the Admiral Gorshkov frigate would offer tours to the public for three days, I was somewhat skeptical. People line up to visit Russian frigate Admiral Gorshkov (not pictured) docked in Havana's bay, Cuba, June 13, 2024. I noticed one of the Russian sailors taking in the blue skies and calm waters around us. For a Russian sailor, Cuba could be as good as it gets these days.
Persons: Admiral, Vladimir Putin’s, , , Donald Trump, Gorshkov, Alexandre Meneghini Organizations: Havana CNN —, Cuba’s Ministry of Defense, Cuban Navy, Reuters, Pentagon, US Navy Base Locations: Havana, Cuba, Russian, Havana’s harbor, Kazan, Moscow, Washington, Ukraine, Cuban, Reuters Russian, York, Russia, Guantanamo Bay
CNN —China’s support for Russia is “enabling” its war in Ukraine, leaders of the world’s most advanced economies warned Friday in a hardening of tone against Beijing, while threatening further sanctions against actors that materially support Moscow’s war machine. “China’s ongoing support for Russia’s defense industrial base is enabling Russia to maintain its illegal war in Ukraine and has significant and broad-based security implications,” the G7 leaders said in the communique Friday. The US and European Union have already slapped sanctions on Chinese companies, and this week, the US imposed fresh sanctions on China-based firms supplying semiconductors to Russia. “So it is, in fact, helping Russia.”Leaders of the G7 nations gathered in southern Italy this week, with boosting support for Ukraine top of the agenda. “We express serious concern about the increasing use of dangerous maneuvers and water cannons against Philippine vessels.”
Persons: , Joe Biden, Filippo Monteforte Organizations: CNN, Beijing, of, European Union, , Ukraine, Getty, EU Locations: Russia, Ukraine, Italy, United States, Europe, China, Western, Moscow, Beijing, “ China, AFP, European, East, South China, South
Max, a recruitment officer for the DaVinci Wolves Battalion, talks with 39 year-old Mykhailo during his recruitment interview at a recruitment office on February 22, in Kyiv, Ukraine. But the pledge is expected to be an “executive agreement,” the sources said, making it less formal than a treaty and not necessarily binding for any future presidents. The US-Ukraine agreement does not make a specific monetary pledge to support Ukraine’s defense, two of the sources familiar with the agreement said. An annex in the agreement will lay out how the Biden administration plans to work with Congress on the implementation of the security commitments, one of the sources said, specifically the long-term funding that will be needed to support Ukraine’s defense. Keep reading here about the agreement.
Persons: Max, Mykhailo, Chris McGrath, Donald Trump, he’d, Russia “, Biden Organizations: DaVinci Wolves Battalion, CNN Locations: Kyiv, Ukraine, Italy, Russia, Europe
We are at a critical time in Russia’s brutal and illegal invasion of Ukraine. Russia’s continued assault on the country requires that we take bold and decisive action. It is time for the United States and our allies to unlock the value of immobilized Russian assets so that Ukraine can get the financial support it urgently needs. The United States and our global coalition including the Group of 7, Europe and countries around the globe are engaged in a battle of wills with Vladimir Putin. We have equipped Ukraine with weapons, equipment and financial support.
Persons: Russia’s, Vladimir Putin, Putin Organizations: Russian Locations: Ukraine, United States, Europe, Russia, Ukrainian
Shares of AFC Energy , a provider of hydrogen-fueled power generation technologies, is expected to more than double over the next year, according to RBC Capital. The London-listed company, founded in 2006, makes a range of proprietary hydrogen fuel cell systems aimed at off-grid and remote power generation for construction, mining, and transportation industries. U.K. shares are generally priced in pence, with 100 pence equal to one British pound ($1.28). The 30-kilowatt generators consume hydrogen for fuel and will be available to customers in the U.K. through its joint venture with equipment hire firm Speedy Hire . The three-year deal with Speedy Hire — under its Speedy Hydrogen Solutions brand — will target U.K. and Irish construction and emergency power markets.
Persons: Erwan Kerouredan, Victoria McCulloch, Saudi Arabia's Organizations: AFC Energy, RBC Capital, RBC, AFC, Saudi, Speedy Hire Locations: London, British, United States, Germany, East, North Africa, Saudi
Goetz Alebrand, head of ocean freight at DHL Global Forwarding Americas, said he is not optimistic freight rates will decline anytime soon. "It is unlikely that the situation will resolve itself soon and [ocean freight] rate levels might not ease up before Chinese New Year," Alebrand said. Air freight prices and demand are going higher According to freight intelligence firm Xeneta, China to North America air freight spot rates increased 43%, to $4.88 per kilogram, year-on-year in May. According to ocean freight data from FreightWaves SONAR, container bookings and freight orders from shippers to the ocean carriers are down 48% month-over-month. Xeneta data tracking ocean freight rates from the Far East to the U.S. East Coast, West Coast and Gulf Coast ports shows the historic run.
Persons: Joe Giddens, Paul Brashier, Brashier, Goetz Alebrand, Alebrand, Alan Murphy, Murphy, Peter Boockvar, Boockvar, We've, Nate Herman, Xeneta, Daniel Ives, Niall van de, van de, Good Hope Organizations: Federal Reserve, CNBC, ITS Logistics, DHL Global, Intelligence, Defense Intelligence, U.S ., Bleakley Financial, American Apparel and Footwear Association, Global, ", Apple, Wedbush Securities, Trade, Good Locations: Asia, Europe, Sea, Red, Africa, Shanghai, Rotterdam, Genoa, U.S . West Coast, East Coast, U.S, China, North America, U.S . East Coast , West Coast, Gulf Coast
Less than four hours after Trump's roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business. "Bitcoin mining may be our last line of defense against a CBDC," Trump posted shortly before midnight on Tuesday. "That's where you've got all these ancillary jobs; it's not just the bitcoin mining directly," said Cook. Enter bitcoin miners. Adding bitcoin miners to the portfolio of energy buyers has helped to improve the core economics of renewable power production.
Persons: Donald Trump, Eva Marie Uzcategui, , New York —, Jason Les, Bitcoin, Bill Hagerty, David Bailey, Trump, Bailey, Sen, Elizabeth Warren, Les, Warren, Geoff Kendrick, bitcoin, Matthew Schultz, Jayson Browder, Brian Hughes, Biden, Harris, Andreessen Horowitz, Ron Conway, Fred Wilson, Cameron, Tyler Winklevoss, Schultz, Browder, CleanSpark, Coke, Chris Cook, Cook, There's, Amanda Fabiano, Fabiano, Marathon's Browder, We've, Exacore's Cook, you've, it's, Digital's Browder Organizations: U.S, Mar, Lago, Trump, Riot, Marathon Digital Holdings, Arkon Energy, Cholla Energy, Exacore, CNBC, Senate's Banking, Finance, China, BTC Inc, Radical Communist, Democratic, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Standard Chartered, Circuits, Government Affairs, Federal Reserve, Biden, U.S . Treasury Department, Republican, NASDAQ, Fabiano Consulting Locations: Lago, West Palm Beach , Florida, New York, Palm Beach , Florida, bitcoin, China, Russia, U.S, America, Washington, San Francisco, Beijing, Marathon, United States, West Texas
Washington CNN —President Joe Biden is leading the world’s richest democracies in sending a beefed-up message to Russian President Vladimir Putin that the West will not forsake Ukraine despite political shocks casting doubts over its commitment. A flurry of new Western plans to help UkraineStill, the latest Western plans to help Ukraine send a strong message of intent. The sanctions target foreign financial firms aiding Putin’s war effort, restrict Russian access to some US software and information technology. Russian advances on the battlefieldThese are substantial and credible political, economic and political demonstrations of support for Ukraine. Not surprisingly, Zelensky has always chafed at the self-imposed limits of Western support for his war effort that are a symptom of Biden’s core aim of avoiding a direct NATO confrontation with Russia.
Persons: Joe Biden, Vladimir Putin, Biden, Volodymyr Zelensky, ” Biden, , Donald Trump, Trump, lionizes Putin, wobbling, , George H.W, George H.W . Bush, Janet Yellen, ” — Biden, Zelensky, ” Jake Sullivan, Wesley Clark, ” Clark, they’ve, , Kamala Harris, Sullivan, John Kirby, Putin Organizations: Washington CNN, Republican Party, Capitol, Republican, CNN, NATO, Big, Union, Ukraine, Trump, Biden, Air Force, Hudson Institute, Kremlin, Kyiv, West, White House National Security Council Locations: Russian, Ukraine, Italy, Normandy, Europe, United States, France, Germany, George H.W ., Russia, Britain, Japan, Canada, NATO, Washington, Kyiv, Cuba, China, Iran, Israel, Ukrainian, Switzerland
Citi analysts said the EU's additional tariffs were "generally benign," while one analyst from Morningstar pointed out that the additional duties were "modest" in comparison to U.S. hikes on Chinese EVs last month. Stock Chart Icon Stock chart icon BYD vs GeelyOn Wednesday, the EU said it would impose extra tariffs on Chinese EV players with a large footprint in Europe. BYD will be subject to additional tariffs of 17.4%, Geely will get an extra 20% duty. Citi analystsThe EU said in a statement it has provisionally concluded that Chinese EV makers benefits from "unfair subsidization," which resulted in "threat of economic injury" to EU's EV industry. watch nowThe additional duties come after the EU launched a probe in October.
Persons: Geely, Li, Morningstar, Joe Biden, Vincent Sun, Europe Joseph Webster, Webster, BYD, Tesla, Paul Triolo Organizations: Automotive Exhibition, Getty, Nurphoto, European Union, Li Auto, SAIC, Citi, EU, EV, Morningstar, Wednesday, Ministry of Commerce, Atlantic Council's Global Energy Center, Volvo, Nomura, Albright, Group Locations: Beijing, China, Geely, EU, Europe, U.S, Hungary, Swedish, Belgium
There are currently some "micro pockets" of deflation in the U.S. economy, said Joe Seydl, a senior markets economist at J.P. Morgan Private Bank. Why prices are deflating for goodsConsumers have largely seen prices deflate for physical goods, such as cars, furniture and appliances, economists said. For example, households have seen prices for furniture and bedding fall by 3.7% since May 2023, according to the consumer price index. watch nowThe U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said. Travelers have also seen deflation for airline fares (-5.9%), hotels (-1.7%) and car rentals (-8.8%) since May 2023.
Persons: Joe Seydl, Seydl, Michael Pugliese, they've, Hayley Berg, Hopper, Olivia Cross Organizations: Getty, Morgan Private Bank, Consumers, Wells, Wells Fargo Economics, Finance, Federal Reserve, of Labor Statistics, U.S, Canadian, Capital Economics Locations: U.S, Wells Fargo, North America
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