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  Bloomberg Bitcoin briefly surpassed $25,000 for the first time since mid-June, as momentum continued from a cooler-than-expected US inflation data and progress towards Ethereum’s big upgrade. The largest cryptocurrency rises as much as 2.2% to $25,031, its highest level since June 13. It was trading around $24,750, rising a fifth straight day in a streak fuelled by US consumer-price …

Bloomberg Mercedes-Benz Group AG will join China’s Contemporary Amperex Technology Co Ltd (CATL) in building a battery factory in Hungary with an investment of as much as 7.3 billion euros ($7.6 billion), with some of Europe’s leading automakers set to become customers too. The plant will have capacity of 100 gigawatt hours, enough to power more than 1 million cars, …

  Bloomberg Snap Inc is introducing tools for parents or trusted adults to better supervise teen behaviour on its popular disappearing photo and video app, Snapchat. The new tool, called Family Center, lets parents or designated adults over the age of 25 to view their teen’s friends, see who they’ve messaged in the past week and anonymously report abusive accounts. …

Bloomberg Electric vehicles sales in China are forecast to hit a record 6 million this year as demand for cleaner cars surges. The China Passenger Car Association (CPCA) raised its estimate from 5.5 million, after releasing data showing deliveries of new-energy vehicles more than doubled in July to around 486,000 units — accounting for 26.7% of the new auto market. …

  Bloomberg Apple Inc MacBook assembler Quanta Computer Inc said its Shanghai campus recovered from Covid-related disruptions more slowly than expected, halving its profit. Net income for the second quarter came in at NT$3.96 billion, down 50% and below the average estimate of NT$4.3 billion. Sales totalled NT$270.5 billion, versus average analyst estimate of NT$258.4 billion. Quanta announced in April …

  Bloomberg RWE AG is investing more than it originally planned on building renewable energy capacity to make Europe more energy independent as a worsening crisis threatens the region’s economy. Germany’s biggest power producer plans to spend more than 5 billion euros ($5.2 billion), on green technologies this fiscal year, including wind, solar and batteries, as well as ramping up …

  Bloomberg Adani Enterprises Ltd plans to invest $5.2 billion in setting up an alumina refinery in the eastern Indian state of Odisha, as Gautam Adani, Asia’s richest man, adds one more business to his rapidly-expanding empire. The flagship company of the Adani group got the approval to build the refinery and a captive power plant in Rayagada for an …

Bloomberg Neptune Energy Group Ltd.’s chief warned that the UK’s windfall tax on oil and gas profits will threaten long-term investment in the sector, but have limited impact on the firm itself. The government in May slapped a 25% windfall tax on producers’ profits to fund aid to the poorest households amid a cost-of-living crisis. The levy — which will …

  Bloomberg A closure of the Rhine River could disrupt the daily trade of hundreds of thousands of barrels of oil products, piling yet more pressure on Europe’s energy-supply chain. The water level at Kaub, west of Frankfurt, is forecast to drop below a critical 40-centimeter mark (under 16 inches), and to 33 centimeters. At that point, it becomes uneconomical …

  Bloomberg Thyssenkrupp AG lowered its full-year profit forecast after rising interest rates triggered a writedown at the German company’s steel division. The engineering giant said it now sees net income in the high triple-digit million-euro range for 2022, below its previous projection of at least 1 billion euros ($1.03 billion). Thyssenkrupp made some progress improving operating profitability. Adjusted earnings …