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Bloomberg Thai officials glimpse a silver lining in the US-China trade war as companies such as Sony Corp. move production to Southeast Asia’s second-largest economy. At least 10 firms are in the process of relocating some production to Thailand from China, according to the National Economic & Social Development Council. More than a dozen others could potentially choose Thailand, it ...

Bloomberg The US and Japan agreed on a broad framework for a trade deal that will keep US tariffs on Japanese automobiles in place for now, while removing barriers to beef exports to Japan, Japanese media reported. Robert Lighthizer, the US Trade Representative, and Japan Economy Minister Toshimitsu Motegi reached an agreement in Washington, the Nikkei and Kyodo News reported, ...

Bloomberg The US is politicising the issue of illicit Chinese exports of fentanyl and using it as a weapon against China, said country’s narcotics regulator. Liu Yuejin, deputy head of China’s National Narcotics Control Commission, rebutted accusations from the US that China is not doing enough to curb the flow of fentanyl beyond its borders. Some American politicians “are up-ending ...

Bloomberg President Donald Trump escalated the trade war with China and moved further away from a deal to resolve frictions, announcing a wave of higher tariffs even as he prepared to set off for a gathering of world leaders. In an announcement, tweeted after major indices on Wall Street sank, Trump said existing 25% tariffs on some $250 billion in ...

Bloomberg Allianz SE agreed to pay 667 million euros ($738 million) for the general-insurance assets of SulAmerica, a deal that will make the German firm Brazil’s second-largest provider of motor insurance. Europe’s largest insurer will combine the new assets with its existing Brazilian subsidiary to create a business with 1.5 billion euros of gross written premiums, according to a company ...

Bloomberg Tesla Inc. agreed to buy batteries from South Korea’s LG Chem Ltd. to be used in electric vehicles produced out in China, according to people familiar with the matter. Batteries made by LG Chem will be used initially in Model 3 cars manufactured in the plant near Shanghai, Tesla’s first outside of the US. LG Chem batteries will also ...

Bloomberg The German Chancellery now also expects Europe’s largest economy to slip into a mild recession in the third quarter, news magazine Der Spiegel reports. Gross domestic product contracted by 0.1% in the second quarter, and Angela Merkel’s economic advisers expect a similar result in the period between July and September. Economists at the German central bank had been making ...

Bloomberg The UK announced a $370 million investment aimed to spur the development of greener flights for people and goods. The government will put 125 million pounds into the initiative, which will to supplement 175 million pounds from industry, Prime Minister Boris Johnson’s office said in a statement late Friday. The intention is to support new technologies including freight-carrying drones, ...

Bloomberg The world’s largest cities need to invest billions of additional dollars into their infrastructure in order to secure citizen data, new research suggests. Of the roughly $135 billion expected to be spent globally on cybersecurity for critical city infrastructure in 2024, 44% will be split across data protection provisions for energy, health care, public security, transport, water and waste ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Wednesday the award of multi-billion-dollar contracts for the procurement of casing and tubing as it drives value through its smart approach to procurement. The combined scope of the three contracts awarded is one of the world’s largest in this category, maximising value for Adnoc across its drilling ...