Author: News Room

The European Commission is expected to announce next week whether to impose provisional extra tariffs on China’s electric vehicle imports and it’s hard to exaggerate its importance, and scope for unintended consequences. Cutting China’s EV sales in Europe would undermine important EU plans to end the sale of new gasoline and diesel vehicles by 2035. Allowing a big increase in Chinese EVs could pose an existential threat to its automakers but help make the 2035 targets. A threat to its automakers might undermine 2035 targets based on CO2 emissions. The Commission announced last November it would probe alleged illegal subsidies…

SpaceX’s Starship mega-rocket snagged a huge victory on the road to Elon Musk’s Mars-settling plans on Thursday — but not without some battle scars.However, the spacecraft was visibly falling apart on SpaceX’s livestream as it screamed through Earth’s atmosphere.Viewers had a limited view of the ship itself, but the onboard camera was conveniently positioned right in front of a fin that started ripping off about halfway through the plummet back to Earth.Soon the spacecraft was shedding so much debris that it clouded the camera. Eventually, according to a SpaceX commentator on the livestream, the lens cracked under the extreme conditions.Still,…

This year’s NBA Finals has hit a perfect storm of being played in big cities with lots of star power, and getting into the games is expensive.According to data collected by TicketIQ, an event ticket search engine, the average price for tickets on the resale market was $4,150 as of Monday, four days before Game 1 of the NBA Finals.The average price is the most expensive ever seen for the NBA Finals since TicketIQ began tracking the data in 2011.The size of the cities and the star power of both teams are likely factors pushing up ticket demand.According to the…

By David Lawder WASHINGTON (Reuters) -Ukraine’s debt restructuring talks with bondholders and other creditors are ‘on track,’ with discussions continuing, International Monetary Fund spokesperson Julie Kozack said on Thursday. Kozack told a regular news briefing that the IMF board would consider a staff-level agreement for the latest review of Ukraine’s $15.6 billion IMF loan program in the coming weeks. The agreement, announced on May 31, would release a $2.2 billion disbursement to Kyiv. Kozack did not provide details on the debt discussions. Ukraine’s program with the International Monetary Fund stipulates that the country should restructure its commercial debt – which…

By Lisa Pauline Mattackal and Johann M Cherian (Reuters) – Wall Street struggled for direction on Thursday as AI-favorite Nvidia (NASDAQ:) slipped after a tech-led rally in the previous session, and investors awaited a key labor market report ahead of the Federal Reserve’s meetings next week to decide on interest rates. The Nasdaq and touched fresh intraday record highs shortly after the open, however, initial gains fizzled out as Nvidia slipped more than 2%. In the previous session, it had crossed $3 trillion in market valuation and overtaken Apple (NASDAQ:) as the world’s second most valuable company. “Today definitely feels…

By Laila Kearney NEW YORK (Reuters) – New York’s electric grid will face supply shortfalls if the rate of retiring old fossil fired power plants continues to quickly outpace the addition of clean new energy supply at the same time demand rises, the state’s grid operator said on Thursday. New York has set a goal for 100 percent clean energy on its grid by 2040 to reduce carbon emissions and slow the progress of climate change. The effort that will require a wide roll-out of renewable energy and the axing of power plants fueled by fossil fuels like . In…

Rachel Smolkin, a veteran media executive who leads CNN’s global digital news, is departing the network to become the next president and CEO of Oregon Public Broadcasting. OPB called Smolkin a forward-thinking journalist and a strong business strategist who can help lead the 100-year-old public media organization through a difficult environment for the journalism industry – and public media, in particular. “As we celebrated our first 100 years, we were looking for a dynamic leader to chart the way forward during this time of transformational change in media,” said Rukaiyah Adams, chair of OPB’s board of directors. “Rachel will advance…

EUR/AUD trades moderately higher after the ECB goes ahead with an expected interest-rate cut after its June meeting.  Relatively robust Australian macroeconomic data continues to cap gains for the pair.  Further, the RBA governor raises the possibility of raising interest rates if inflation fails to fall sustainably.  EUR/AUD is trading up a tenth of a percent in the 1.6360s on Thursday after the European Central Bank (ECB) announces a highly anticipated interest-rate cut of 0.25% at its June policy meeting. This brings the ECB’s main refinancing operations rate down from 4.50% to 4.25%.  Despite lower interest rates usually proving negative…

TON Foundation just announced that they are collaborating with Tether to ensure USDt on the TON blockchain is accessible to everyone. The initiative is aimed at USDt penetrating geographical boundaries and will be facilitated by over 100 local partner integrations. Also Read: Hamster Kombat to Launch Token on TON Blockchain in July The Telegram-backed blockchain project, TON, has taken the crypto space by storm, establishing partnerships with crypto companies like Tether to ensure the growth and development of its ecosystem. In today’s announcement, TON Foundation unveiled its plans to penetrate several markets, easing global accessibility to USDt. Both crypto firms…

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