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WASHINGTON, July 12 (Reuters) - Billionaire Elon Musk said on Wednesday he thinks China is interested in a cooperative international framework on artificial intelligence, from conversations he had when he visited China a few weeks ago. Musk made the remarks in a Twitter Space event with two U.S. congressmen, Democrat Ro Khanna and Republican Mike Gallagher. "China is definitely interested in working in a cooperative international framework for AI regulation," Musk said. He added that he has advocated for artificial intelligence regulations and oversight, including in his meetings in China. After meeting with officials during his China trip, Musk last month said the Chinese government would seek to initiate artificial intelligence regulations in China.

Persons: Billionaire Elon Musk, Musk, Ro Khanna, Mike Gallagher, Tesla, Ding Xuexiang, Kanishka Singh, Anna Tong, Sandra Maler, Leslie Adler Organizations: Billionaire, Regulators, Thomson Locations: China, Shanghai, Beijing, ChatGPT

Experts have mixed reactions on whether the budget will meet IMF requirements and the impact on the economy. The ‘No new Taxes on Industry’ claim is belied by increase in super tax and that too in not a fully progressive way. Will retailers and the agri sectors that together contribute 40% contribute more than 2% as a result of the budget? SHAHBAZ ASHRAF, CHIEF INVESTMENT OFFICER AT FRIM VENTURES“It is surely not a budget that the IMF would approve of. "The regional energy price budget, which has built in cross subsidies, general collection and distribution losses is something the export industry cannot sustain."

Persons: GHIAS KHAN, EHSAN MALIK, SHAHID HABIB, ARIF HABIB, ZULQARNAIN, ABDUL ALEEM, IRFAN IQBAL SHEIKH, MUSTAFA PASHA, SHAHBAZ ASHRAF, they've, There's, ” FAHAD RAUF, ISMAIL IQBAL, GOHAR EJAZ, Ariba Shahid, Jonathan Oatis, Nick Zieminski Organizations: International Monetary Fund, IMF, Pakistan, Reuters, FX, ENGRO CORP, OF, PAKISTAN BUSINESS, Industry, PAKISTAN, Company, FEDERATION OF PAKISTAN, OF COMMERCE, PKR, IN, MILLS ASSOCIATION, Thomson Locations: KARACHI, Pakistan, PAKISTAN, Karachi

BEIJING, June 5 (Reuters) - U.S. automaker Tesla Inc (TSLA.O) delivered 77,695 China-made electric vehicles (EVs) in May, a 2.4% jump from April, data from the China Passenger Car Association (CPCA) showed on Monday. Chinese rival BYD Co Ltd (002594.SZ), with its Dynasty and Ocean series of EVs and petrol-electric hybrid vehicles, logged sales of 239,092 vehicle in May, up 14% from April, CPCA data showed. CPCA is scheduled to release more detailed car sales figures for May later this month. Tesla has been under intense focus in China in recent weeks, amid an unannounced, high-stakes visit from boss Elon Musk. Musk visited Tesla's Shanghai factory late on Wednesday and met with Chen Jining, the ruling party's Shanghai secretary, on Thursday.

Persons: CPCA, Tesla, Elon Musk, Ding Xuexiang, Musk's, Zeng Yuqun, Musk, Chen Jining, Chen, Qiaoyi Li, Zhang Yan, Brenda Goh, Louise Heavens, Bernadette Baum Organizations: U.S, Tesla Inc, China Passenger Car Association, BYD Co, Reuters, Amperex Technology Co, Thomson Locations: BEIJING, China, Shanghai, Beijing

☆ Australia hikes minimum wage as living costs surge
▼ + stars: | 2023-06-02 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

REUTERS/Steven Saphore/File PhotoSYDNEY, June 2 (Reuters) - Australia will raise the minimum wage by 5.75% from July 1 as families grapple with soaring living costs, a decision that businesses and some economists say risks further stoking inflation and interest rates. The independent Fair Work Commission (FWC) on Friday decided on a 5.75% pay rise for workers on awards with wages linked to movement in the minimum wage. It also made a technical reclassification for the national minimum wage, which the union says will take the increase to 8.6% for the lowest-paid employees, about 0.7% of the workforce. "Following several recent developments, including the outcome of today's minimum wage decision, we are adding a 25bp hike to our RBA profile in June and another 25bp in July." "Today's increase means these workers can keep their heads above water and not have to cut back even further."

Persons: Steven Saphore, Lin Ong, Philip Lowe, Taylor Nugent, Adam Hatcher, Hatcher, Andrew McKellar, Sally McManus, Stella Qiu, Shri Navaratnam Organizations: REUTERS, RBC Capital Markets, Reserve Bank of Australia, National Australia Bank, Australian Chamber of Commerce and Industry, Australian Council of Trade Unions, Thomson Locations: Sydney, Australia, Lincoln

☆ Elon Musk's whirlwind China trip included talks with vice premier
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, June 1 (Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk departed Shanghai on Thursday, wrapping up a two-day trip to China in which he met senior Chinese government officials including the highest-ranking vice premier. The video released by Tesla showed Musk praising employees for "overcoming so many difficulties and challenges" and making a heart sign with his hands. Earlier in the trip, Musk met with China's foreign, commerce and industry ministers in Beijing and dined with the chairman of battery supplier Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ). He also met with Chinese Vice Premier Ding Xuexiang on Wednesday, a source familiar with the matter said. China values its relationship with Tesla and in 2019 Musk had a one-on-one meeting with then premier Li Keqiang.

Persons: Elon Musk, Musk's, Tom Zhu, Tesla, Musk, Ding Xuexiang, Ding, Xi Jinping, Li Keqiang, Chen Jining, Chen, Zhang Yan, Brenda Goh, Nicoco Chan, Julie Zhu, Edwina Gibbs Organizations: Tesla Inc, Amperex Technology Co, State, Information Office, U.S ., Thomson Locations: SHANGHAI, Shanghai, China, Beijing, U.S, Shanghai's Hongqiao, Austin , Texas, Hong Kong

☆ Elon Musk met with Chinese Vice Premier Ding in Beijing -source
▼ + stars: | 2023-06-01 | by ( Julie Zhu | ) www.reuters.com time to read: +2 min

[1/2] Tesla Chief Executive Officer Elon Musk walks next to Tesla's Senior Vice President Tom Zhu and Vice President Grace Tao as he leaves a hotel in Beijing, China May 31, 2023. REUTERS/Tingshu Wang/File PhotoHONG KONG, June 1 (Reuters) - Tesla Inc (TSLA.O) CEO Elon Musk met with Chinese Vice Premier Ding Xuexiang on Wednesday afternoon in Beijing, a source familiar with the matter said. It was not immediately clear if Musk met Li Qiang during the trip. Tesla had previously sought a meeting for Musk with Li, Reuters reported in March. Musk left Shanghai on Thursday morning, wrapping up a two-day trip to China in which he also met a key battery supplier and visited Tesla's Shanghai factory.

Persons: Elon Musk, Tom Zhu, Grace Tao, Tingshu Wang, Ding Xuexiang, Tesla, Ding, Xi Jinping, Li Qiang, Musk, Li, Julie Zhu, Zhang Yan, Brenda Goh, Sophie Yu, Edwina Gibbs Organizations: Tesla, Tesla's, REUTERS, Tesla Inc, State, Information Office, Reuters, Thomson Locations: Beijing, China, HONG KONG, Shanghai, Tesla's Shanghai

☆ Elon Musk wraps up whirlwind China trip
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, June 1 (Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk departed Shanghai Thursday morning, wrapping up a two-day trip to China in which he met government ministers, a key battery supplier and visited the automaker's biggest production hub. Photos of Musk's visit to Tesla's Shanghai factory late Wednesday showed him holding up a "Giga Shanghai" sign, flanked by hundreds of staff including head of global manufacturing Tom Zhu. "A very rewarding day!," Grace Tao, Tesla's China-based public affairs chief, said in a social media post with the photos. Earlier in the trip, Musk met with China's foreign, commerce and industry ministers in Beijing where he also dined with the chairman of battery supplier Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ). The industry ministry only said Musk and its head exchanged views about development of electric vehicles and connected cars; the commerce ministry announced he discussed Tesla's development in China with its minister.

Persons: Elon Musk, Tom Zhu, Grace Tao, Musk, Brenda Goh, Zhang Yan, Nicoco Chan, Edwina Gibbs Organizations: Tesla Inc, Amperex Technology Co, U.S ., Thomson Locations: SHANGHAI, Shanghai, China, Beijing, U.S, Shanghai's Hongqiao, Austin , Texas

[1/3] Tesla Chief Executive Officer Elon Musk stands near Chinese Commerce Minister Wang Wentao before leaving the Chinese Ministry of Commerce in Beijing, China May 31, 2023. Billionaire Elon Musk has been showered with praise by the Chinese public during his trip to China and while also securing audiences with three government ministers. "Elon Musk is just great, if only China could have someone like Elon Musk," said another. Musk's unannounced trip is the latest by a major U.S. CEO to China since the country reversed its zero-COVID policy and reopened its borders. The commerce ministry also did not respond to a request for comment.

Persons: Elon Musk, Wang Wentao, Tingshu Wang, Ma, Billionaire Elon Musk, Zeng Yuqun, Jin Zhuanglong, hasn't, Musk, Elon, Tim Cook, JP Morgan's, Jamie Dimon, Laxman Narasimhan, CATL's Zeng, Tesla, CATL, Martin Pollard, Josh Arslan, Wang Tingshu, Joe Cash, Zhang Yan, Brenda Goh, Edwina Gibbs Organizations: Tesla, Commerce, Chinese Ministry of Commerce, REUTERS, Tesla Inc, Fu Yan, Twitter, Shanghai, Thomson Locations: Beijing, China, Tingshu Wang BEIJING, U.S, Shanghai, United States

[1/2] Tesla Chief Executive Officer Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China May 31, 2023. REUTERS/Tingshu WangBEIJING, May 31 (Reuters) - Tesla Inc (TSLA.O) CEO Elon Musk kicked off his second day in China with visits to the country's commerce ministry and industry ministry. Musk left his hotel on Wednesday morning accompanied by Grace Tao, Tesla's China-based public affairs chief and Tom Zhu, head of global manufacturing. He next visited the Ministry of Industry and Information which has regulatory oversight of the automotive industry. Tesla and the ministries did not immediately reply to a request for comment on discussions with Musk.

Persons: Elon Musk, Tingshu Wang, Musk, Grace Tao, Tom Zhu, Wang Wentao, Tesla, Qin Gang, Zeng Yuqun, CATL, Martin Pollard, Josh Arslan, Wang Tingshu, Joe Cash, Zhang Yan, Brenda Goh, Edwina Gibbs Organizations: Tesla, REUTERS, Tesla Inc, Ministry of Industry, Foreign, Thomson Locations: Beijing, China, Tingshu Wang BEIJING, Shanghai, United States

VILNIUS, May 29 (Reuters) - Latvians woke up to go to work on Monday morning, only to find they didn't have to. Their parliament had met at midnight to declare a holiday after the national ice hockey team chalked up its best-ever result at the world championship. Latvia, where hockey is the national sport, was co-hosting the men's championship with Finland, and the Latvians' extra-time victory over the U.S. for third place was greeted with wild jubilation. At quarter to midnight on Sunday, sporting red and white national team jerseys, members of parliament convened for a ten-minute session to unanimously declare the holiday. The bill was introduced by a smiling member of parliament with her face painted in the colours of the national flag.

☆ Australia's budget is focused on alleviating cost of living pressures, says industry body
▼ + stars: | 2023-05-10 | 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 EmailAustralia's budget is focused on alleviating cost of living pressures, says industry bodyAndrew McKellar of the Australian Chamber of Commerce and Industry discusses Australia's budget and says there's much less emphasis on business, adding that its "lead item" is energy cost relief.

Importantly, smaller firms are also starting to raise pay even as many of them face a margin crunch. Big firms offered pay hikes of 3.8% this year in annual wage talks with unions that ended in March, the largest increase in three decades. Attention has now shifted to whether small firms, which employ seven out of 10 workers in Japan, would follow suit. The BOJ's tankan business sentiment survey showed last month that small firms' current profits fell 2.7% in the last fiscal year to March, while big firms' earnings rose 11.5%. Less than half of small firms said they were able to pass on rising costs to customers as of last September, government data showed.

☆ Apple to open first stores in India next week underscoring CEO Tim Cook's bullish view on the country
▼ + stars: | 2023-04-12 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

A view of Apple's first company-owned store in India to be launched inside the Jio World Drive mall at Bandra Kurla Complex (BKC) in Mumbai. Apple is set to open its first physical stores in India next week, highlighting the country's importance to the U.S. tech firm's future in iPhone sales and manufacturing,The Cupertino giant will open a store in Mumbai on Apr. Apple CEO Tim Cook may travel to India to open the stores, Bloomberg reported, citing people familiar with the matter. Apple is "putting a significant amount of energy" in India, Cook stressed at the time. The manufacturing push in India comes as Apple is looking to reduce its reliance on China, where it currently makes the bulk of its iPhones.

☆ German exports rise significantly more than expected in February
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +2 min

BERLIN, April 4 (Reuters) - German exports rose significantly more than expected in February due to strong demand from the United States and China, posting their biggest increase in 10 months, data showed on Tuesday. Exports increased by 4.0% on the previous month, the federal statistics office said. A Reuters poll had predicted a month-on-month rise in exports of 1.6%. In February, exports to European Union countries rose 2.0% on the previous month, while exports to the U.S. and China increased by 9.4% and 10.2% respectively compared with January. Despite the increase, export demand still lacks momentum, Klaus Wohlrabe, head of surveys at Ifo, said.

☆ Australian PM says would welcome inflation-matching minimum wage rise
▼ + stars: | 2023-03-30 | by ( Lewis Jackson | ) www.reuters.com time to read: +2 min

Changes to the national minimum wage are reviewed annually by the independent Fair Work Commission (FWC), which last year delivered an increase largely in line with inflation. "If the Fair Work Commission makes that decision then I would welcome it, but it is an independent decision of government. The FWC decision, expected in June, also covers minimum wages and conditions for specific industries and occupations, known as awards. Roughly 2.7 million Australians are covered by awards, compared to around 180,000 on the minimum wage. Catherine Birch, a senior economist at ANZ, said the FWC would likely lift the minimum wage further than award wages, given the latter's broader reach.

☆ How Indonesia is using diplomacy to call for the end of Russia's war in Ukraine
▼ + stars: | 2023-03-16 | by ( Sponsor Post | Created Insider Studios With Fcdo | ) www.businessinsider.com time to read: +6 min

Indonesia has joined the vast majority of the world's countries in condemning Russia's invasion of Ukraine. Agriculture, IT, and energy are just a few of the areas with potential for partnership between Indonesia and Ukraine. Indonesia has worked hard to build bridges in the interests of global trade and regional stability. Bilateral opportunities: Trade between Indonesia and Ukraine totaled $1.24 billion before Russia invaded Ukraine. 141 countries, including Indonesia, voted in favor of Russia's immediate, complete, and unconditional withdrawal from Ukraine.

☆ Analysis: Wage catch-up to prolong Europe's inflation battle
▼ + stars: | 2023-03-10 | by ( Balazs Koranyi | ) www.reuters.com time to read: +6 min

"Part of the wage increase is understandable," said Jens Ulbrich, chief economist at Germany's Bundesbank. Yet the rapid wage growth underway now will hamper the European Central Bank's efforts to get inflation back to its 2% target, and possibly force it to keep interest rates high for longer. "We are taking a first step, but much more is needed to reverse the years of lopsided wage growth," Kager added. "The inflation trend, food and especially energy prices are tearing deep holes in our workers' budgets," ver.di Chairman Frank Werneke said. "The high levels of wage growth projected for 2023 and 2024 can be expected to make wages an increasingly dominant driver of underlying inflation in the euro area," Lane says.

☆ Fears of European industry exodus to U.S. may be overdone
▼ + stars: | 2023-03-03 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +6 min

However, the risks are offset not only by the substantial existing European incentives, but also other factors - such as proximity to European consumers - that many companies cite as critical in their decisions. Think tank Bruegel says EU support is already on a par with, or even larger than, IRA money. Moreover, well over half of the IRA support is for renewable energy production, with local content requirements playing a very limited role. Some executives say rather than providing more subsidies, Europe needs to simply improve the way they are given. The United States is not a panacea for European firms, not least due to questions about what approach the next U.S. administration might take.

☆ Ukrainian refugees could help Germany's labor market, but not for long: They're 'ready to go home'
▼ + stars: | 2023-02-24 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +3 min

Germany's labor market is under pressure, but the recent influx of Ukrainian refugees is "no silver bullet" for the workforce issues. Germany's labor market is under severe pressure, and the recent influx of Ukrainian refugees is unlikely to solve the country's workforce issues in the long term. "If I compare to the previous asylum seekers, Ukrainians are clearly better educated and have integrated much faster into the German labor market," he added, noting that Germany is an attractive country for people looking to join the labor market. But Ukrainian refugees can't be expected to fill the gaps in the German labor market. Language barriersAround 60% of Ukrainian refugees in Germany perceived language barriers as the biggest challenge in their new environment, according to an OECD survey.

☆ Germany bids to clear the rocky path for foreign talent
▼ + stars: | 2023-02-23 | by ( Maria Martinez | ) www.reuters.com time to read: +5 min

Although not alone in facing labour shortages, Germany does not benefit from language and other ties with former colonies. However, Germany does not have a long-established history of immigration and the need for greater reliance on foreign labour will need a change in mindset. With this card, obtained before arrival, individuals with potential will be allowed to stay in Germany to find a job. While the first challenge is attracting talent, the second one is ensuring that the talent wants to stay. Madrigal is planning to stay in Germany as he wants to grow inside of his company, InterWorks.

☆ Thousands of trucks stuck at Afghan-Pakistan border crossing
▼ + stars: | 2023-02-21 | by ( Jibran Ahmad | ) www.reuters.com time to read: +2 min

[1/3] Men sit near a queue of trucks loaded with supplies to leave for Afghanistan, after Taliban authorities have closed the main border crossing in Torkham, Pakistan February 21, 2023. REUTERS/Shahid ShinwariPESHAWAR, Feb 21 (Reuters) - A key border crossing between Pakistan and Afghanistan remained closed for a third day, with thousands of goods vehicles stuck and businesses facing losses as officials from both sides try to broker a solution. "The closure of the border crossing between Pakistan and Afghanistan has been causing losses to traders of the two countries. He added some trucks had been diverted to another, smaller border crossing, but traders were worried about the security of truck drivers travelling to that region. Residents had reported heavy gunfire on Monday morning near the Torkham border crossing, but the Taliban official had denied any clashes and said the situation was under control.

☆ Biden to announce $34 billion Boeing and Air India deal
▼ + stars: | 2023-02-14 | by ( Nikki Carvajal | ) edition.cnn.com time to read: +3 min

CNN —Air India will purchase more than 200 planes from Boeing, a White House official says President Joe Biden will announce Tuesday. The agreement will include 190 Boeing 737 MAXs, 20 Boeing 787s, and 10 Boeing 777Xs – a total of 220 firm orders valued at a list price of $34 billion, the official says. The purchase will also include customer options for an additional 50 Boeing 737 MAXs and 20 Boeing 787s, totaling 290 airplanes for a total of $45.9 billion at list price. The company has not announced any sales to a Chinese passenger airline since November 2017, and the country banned the Boeing 737 Max for much longer than most countries. A Boeing 737 Max finally took off in China in January for the first time since 2019.

☆ We need lithium from Australia for our electric vehicle batteries: Indonesian business organization
▼ + stars: | 2023-02-14 | 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 EmailWe need lithium from Australia for our electric vehicle batteries: Indonesian business organizationArsjad Rasjid of the Indonesian Chamber of Commerce and Industry discusses how it's collaborating with ASEAN countries in business efforts.

☆ Is the iPhone's 'Made in India' era beginning as Apple breaks with China?
▼ + stars: | 2023-02-10 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

Minister of Commerce and Industry Piyush Goyal said Apple was already making between 5% and 7% of its products in India. His comments come at a time when Foxconn (HNHPF), a top Apple supplier, is looking to expand its operations in India after suffering severe supply disruptions in China. For years, Apple had relied on a vast manufacturing network in China to mass produce iPhones, iPads and other popular products. China headaches mountBut the world’s most valuable company posted shockingly weak earnings this month, partly because of its recent problems in China. According to Counterpoint’s Pathak, India accounts for 16% of the global smartphone production, while China constitutes 70%.

☆ U.S. remains biggest destination for German exports for eighth year in a row
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 1 (Reuters) - The United States remained the most important destination for German exports in 2022 for the eighth consecutive year. Exports of goods reached a record 156 billion euros ($169.31 billion) last year, according to Reuters calculations based on preliminary data from the German statistics office. German exports to the United States in 2022 were well above the previous record of 122 billion euros in 2021. German companies mainly supplied machinery, motor vehicles and automotive parts to the United States. Both the IfW and the DIHK assume that the United States will remain the most important customer for German goods for the foreseeable future.

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