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☆ Japan or China — which is the world’s top car exporter?
▼ + stars: | 2024-02-02 | by ( Laura He | Himari Semans | ) edition.cnn.com time to read: +2 min

Hong Kong/Tokyo CNN —Did China just pull ahead of Japan to become the world’s top car exporter? “It is a certainty that China has become the world’s largest exporter,” the China Passenger Car Association (CPCA) said last month. And the picture is further clouded if you consider industry association data. One trend is clear though: China has been closing the gap with the world’s top car exporting nations over the past two years. In 2023, China’s passenger car exports rose 62% from 2022, according to data published by the CPCA last month.

Persons: BYD, Tesla, Elon Organizations: Tokyo CNN —, China Passenger Car Association, Japan Automobile Manufacturers Association, China Auto Manufacturing Association, Elon Musk’s Locations: China, Hong Kong, Tokyo, Japan, Beijing, South Korea, Germany, Russia, Moscow, Ukraine, Europe, Australia, Southeast Asia, Shenzhen

☆ Some Migrants Are Swapping Their American Dream for a Mexican One
▼ + stars: | 2023-11-24 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +5 min

So when Banegas fled gang threats in Honduras once more in 2021, he set his sights not on the United States, but Mexico. He gets along with his Mexican coworkers, he said, and he's proud his six-month-old son, David, is a Mexican citizen. The vast majority of migrants who enter Mexico continue north toward the U.S., posing challenges for the Biden administration. U.S., Mexican and U.N. officials have called for regional cooperation to help migrants resettle in places such as Mexico, Costa Rica and Colombia, aiming to reduce illegal migration to the U.S. (Reporting by Daina Beth Solomon in Mexico City and Laura Gottesdiener in Saltillo; Editing by Christian Plumb and Suzanne Goldenberg)

Persons: Laura Gottesdiener, Beth Solomon, Walter Banegas, Banegas, Long, he's, David, Biden, Giovanni Lepri, Arturo Rocha, Jose Medina Mora, Fernando Hernandez, Kaitlyn, Hernandez, Daina Beth Solomon, Christian Plumb, Suzanne Goldenberg Organizations: United, Pace Industries, UNHCR, U.S, ASK Locations: Beth Solomon SALTILLO, Mexico, Mexican, Saltillo, Honduran, Honduras, United States, United Nations, Michigan, U.S, Haiti, Venezuela, El Salvador, Cuba, Costa Rica, Colombia, Texas, Monterrey, Chang's, Mexico City

So when Banegas fled gang threats in Honduras once more in 2021, he set his sights not on the United States, but Mexico. He gets along with his Mexican coworkers, he said, and he's proud his six-month-old son, David, is a Mexican citizen. 'VERY SOLID OPTION'A decade ago, a few hundred people annually received asylum in Mexico. The vast majority of migrants who enter Mexico continue north toward the U.S., posing challenges for the Biden administration. U.S., Mexican and U.N. officials have called for regional cooperation to help migrants resettle in places such as Mexico, Costa Rica and Colombia, aiming to reduce illegal migration to the U.S.

Persons: Walter Banegas, Daniel Becerril, Banegas, Long, he's, David, Biden, Giovanni Lepri, Arturo Rocha, Jose Medina Mora, Fernando Hernandez, Kaitlyn, Hernandez, Daina Beth Solomon, Laura Gottesdiener, Christian Plumb, Suzanne Goldenberg Organizations: Pace, REUTERS, Rights, United, Pace Industries, UNHCR, U.S, ASK, Thomson Locations: Honduras, Mexico, Saltillo , Mexico, Rights SALTILLO, Mexican, Saltillo, Honduran, United States, United Nations, Michigan, U.S, Haiti, Venezuela, El Salvador, Cuba, Costa Rica, Colombia, Texas, Monterrey, Chang's, Mexico City

☆ Brazilian Lawmakers Advance Country’s Regulated Carbon Market
▼ + stars: | 2023-10-26 | by ( Paulo Trevisani | Luciana Magalhaes | ) www.wsj.com time to read: +5 min

A Brazilian carbon market would be an important addition to an expanding network of cap-and-trade systems around the world. Brazilian agricultural producers and miners hope the carbon market will help overcome headwinds in developed markets where consumers often associate them with deforestation. Exporters of manufactured goods using Brazilian grains, meat, iron-ore and other raw materials could also get a boost if carbon regulation improves the country’s environmental credentials, according to Brazilian business executives. Sen. Tereza Cristina —a former agriculture and livestock minister—defended the decision to exclude the sector from carbon regulation. “The farm sector isn’t ready for the regulated carbon market,” she said.

Persons: Eraldo Peres, Luiz Inácio Lula da Silva, Flávio Roscoe, ”, Marcio Astrini, Tereza Cristina —, —, Fábio Passos, Passos, Paulo Trevisani, Luciana Magalhaes Organizations: Associated Press, United, Observatory, Sen, Business, Bayer’s, luciana.magalhaes@wsj.com Locations: Brazil, Associated Press Brazil, Nations, United Nations, Pennsylvania, Minas Gerais, Europe, Latin America, paulo.trevisani@wsj.com

☆ MEMA's Julie Fream on UAW strike: Suppliers will be in a very difficult situation by mid-October
▼ + stars: | 2023-10-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMEMA's Julie Fream on UAW strike: Suppliers will be in a very difficult situation by mid-OctoberJulie Fream, MEMA Original Equipment Suppliers president and CEO, joins "Squawk Box' to discuss the ripple effects from the UAW strike, as a new survey from the Motor Equipment and Manufacturing Association (MEMA) shows nearly 30% of the surveyed suppliers laid off employees and 60% expect to begin layoffs as soon as next week.

Persons: Julie Fream Organizations: UAW, Motor Equipment, Manufacturing Association

Western automakers are rattled, with Carlos Tavares, the CEO of Peugeot-to-Fiat carmaker Stellantis (STLAM.MI), warning last month of an "invasion" of cheap Chinese EVs in Europe. But Chinese brands are likely to struggle to sell cars in Europe as cheaply as at home. CONSUMER TRUSTWhile some Chinese brands, such as MG, are well known in Europe, others like XPeng (9868.HK) and Nio need to build trust. Surveys indicate most potential EV buyers in Europe do not recognise Chinese brands. But among those aware of Chinese brands, 1% or fewer would consider buying one.

Persons: Annegret, Carlos Tavares, Chen Shihua, ” Shihua, Spiros Fotinos, Alexander Klose, BYD, Geely’s Lynk, Tesla, Aiways, Zeekr's Fotinos, ” Fotinos, Klose, Victoria Waldersee, Zhang Yan, Gilles Gillaume, Giulio Piovaccari, Mark Potter Organizations: REUTERS, HK, Allianz . Western, Peugeot, Fiat, EV, New Energy Vehicle, Jato Dynamics, Logistics, Geely, South Korean, YouGov, GAC, Victoria, Thomson Locations: Berlin, Germany, Europe, BERLIN, China, Beijing, Munich, Milan

☆ Exclusive: H&M probes Myanmar factory abuses as pressure intensifies
▼ + stars: | 2023-08-16 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +5 min

The BHRRC has been tracking allegations of workers' rights abuses in garment factories since the military junta took power in Myanmar, plunging it into political and humanitarian crisis. There have been 21 cases of alleged abuses linked to Inditex suppliers over the two-year period, and 20 linked to H&M suppliers, according to the report. The Myanmar Garment Manufacturing Association did not reply to a request for comment. It expects its final orders from Myanmar suppliers to ship before the end of this year, but has also increased its presence on the ground. H&M and Bestseller are among 18 brands that are part of the European Union-funded MADE project aimed at improving labour conditions in Myanmar's garment factories.

Persons: Inditex, Spencer, Primark, we've, Karina Ufert, Vicky Bowman, Bowman, Helen Reid, Vanessa O'Connell, Marguerita Choy, Emelia Organizations: Reuters, Zara, Human Rights Resource, Myanmar Labour News, Myanmar Garment Manufacturing Association, Ethical Trade, European Union, European Chamber of Commerce, Myanmar Centre, Responsible Business, Thomson Locations: Myanmar, British, MYANMAR Spanish, Danish

☆ Fukushima wastewater: South Korean shoppers hoard salt, seafood ahead of Japan's release of treated radioactive water
▼ + stars: | 2023-07-09 | by ( Jessie Yeung Yoonjung Seo Paula Hancocks | Jessie Yeung | Yoonjung Seo | ) edition.cnn.com time to read: +7 min

The government has said the wastewater release will begin this summer, though it has not specified a date. The shortages were so acute that the government was forced to release sea salt from its official reserves to stabilize salt prices, which have soared more than 40% since April, according to the country’s salt manufacturing association. After a thorough safety review, it concluded in a report last week that the wastewater release would have “negligible” impact on people or the environment. The South Korean government said last week it would respect the IAEA’s findings. Photos show protesters holding banners that lambasted the IAEA and the Japanese government and condemned the wastewater release.

Persons: There’s, Chung Sung, Jung Yeon, ”, Lee Gi, I’m, ” Lee, Rafael Grossi, “, Lee, I’ve, … I’ve Organizations: Seoul CNN —, United Nations, CNN, Shoppers, Ministry of, Fisheries, Reuters, National Federation of Fisheries Cooperatives, Gallup, Noryangjin Fisheries Wholesale, Getty, International Atomic Energy Agency, IAEA, South Locations: Seoul, South Korea, Fukushima, Japan, United States, China, Gallup Korea

But Michelin, Continental and Pirelli (PIRC.MI) told Reuters they are pursuing alternatives to 6PPD, with Michelin and Continental adding collective industry action may be necessary to find solutions. Continental said its dandelion tyres were developed to find a sustainable form of natural rubber, and addressing 6PPD was a separate focus. The worst-performing rival tyres Michelin has tested so far emit around 8 kg per year. Michelin and Continental said they are already focused on making their tyres more durable - Michelin cut its tyre emissions 5% between 2015 and 2020, Roget said. "The advent of the EV is the time to make this change," to improve tyres," Enso's Erlendsson said.

ISLAMABAD, April 28 (Reuters) - Inflation-hit Pakistan on Friday approved a rise of up to 20% in retail prices of general medicines and 14% for essential ones, prompting immediate criticism from drug manufacturers who said the increases were too small. The government decision followed a months-long stand-off with importers and manufacturers, whose associations have been demanding an across-the-board 39% rise, warning that the industry could otherwise collapse. But the government had pushed back against the demands for higher medicine prices, fearing such a move would lose it support months before national general elections. The finance ministry said medicine prices could be reviewed again after three months if the Pakistani rupee appreciated, adding that "no increase under this category" would be granted in the next financial year. The Pakistan Pharmaceutical Manufacturing Association (PPMA) criticised the increase, which it said was way lower than it had expected.

☆ Amid risk of stalling in EV race, Spain's rebooted aid scheme gets warm reception
▼ + stars: | 2023-04-11 | by ( Joan Faus | ) www.reuters.com time to read: +6 min

Madrid will launch a new, more flexible version of the PERTE scheme around July, worth 2 billion euros ($2.2 billion) after last year's initial funding round flopped, with only 27% of an earmarked 2.9 billion euros allocated. Stellantis already manufactures EVs in Spain and received 67 million euros from the first PERTE, but could request more funds to boost production. Griffiths said using the EU funds is "essential" for Spain's future as some investments would otherwise be non-viable. Unlike Germany, Europe's leading car producer, Spain lacks a domestic manufacturer to champion the EV cause. In last year's PERTE round, VW-SEAT received the highest payout, of 357 million euros, but had hoped for more.

Much as he would have liked to significantly increase supplies, Biosca-Reig said he couldn't justify investing millions of euros in new production lines unless he was paid more for the generic drug to cover sharply rising costs. European generic drugmakers say the tender system and regulated prices have fuelled a race to the bottom, and European firms are being undercut by suppliers from Asia. BRUSSELS, WE HAVE A PROBLEMThe European Medicines Agency (EMA) and European Union lawmakers acknowledge there is a problem. Half the generic medicines sold in Spain are priced below 1.60 euros per box or bottle, the country's generics manufacturing association said. But companies with smaller market shares, such as Israel's Teva (TEVA.TA), which has 5% of the region's amoxicillin market according to Medicines for Europe, are constrained.

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