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AESC has paused construction on its $1.6 billion battery plant in South Carolina due to uncertainties surrounding federal tax breaks and tariffs. The company, which has already invested $1 billion, plans to restart construction but did not specify when. Meanwhile, BMW's plans for its battery assembly site remain unaffected, and South Carolina continues to invest in electric vehicle manufacturing.
Japan is considering emergency rice imports and other measures to stabilize soaring rice prices, which have doubled in the past year, ahead of key elections. The government plans to release 600,000 metric tons from its emergency stockpile and may utilize its annual quota of 100,000 metric tons of tariff-free rice. Meanwhile, the U.S. Treasury has urged the Bank of Japan to continue tightening monetary policy to address the yen's weakness and support economic rebalancing.
The U.S. Treasury Department has urged the Bank of Japan (BOJ) to continue tightening its monetary policy to address the yen's weakness and promote a rebalancing of trade. The report highlights that Japan's ultra-low interest rates contribute to the yen's depreciation against the dollar, with the BOJ's gradual rate hikes being closely monitored. Despite recent increases, economists expect the BOJ to maintain steady rates through September, with a potential hike by year-end.
Indonesia's Ministry of Communication and Digital Affairs aims to shift all telecommunications device testing to local facilities by 2026, addressing past reliance on foreign labs. The Indonesia Digital Test House, operational since May 2024, seeks to enhance self-reliance and meet international standards, with a focus on boosting the local economy and improving telecommunications infrastructure across the archipelago.
The European Consumers Organisation (BEUC) has lodged a complaint against Shein with the European Commission, accusing the fast-fashion retailer of employing "dark patterns" to manipulate consumer behavior. Tactics highlighted include pop-ups warning against leaving the app, countdown timers, and excessive notifications, which BEUC claims may violate EU regulations on aggressive commercial practices. This action reflects a broader regulatory trend addressing manipulative online shopping strategies prevalent in the fast fashion industry, where rapid consumption is driven by psychological manipulation.
Swiss healthtech startup Aeon has secured €8.2 million (US$9 million) in seed funding, led by Concentric, to enhance its AI-driven preventive healthcare services, including whole-body MRI scans and genetic testing. The funding will facilitate expansion into Switzerland, Germany, and the UK, with plans for over 10 new locations. Aeon's innovative approach addresses the significant preventive care gap, aiming to reduce chronic disease burdens through comprehensive diagnostics and insurance reimbursement strategies.
Power costs in China's industrial regions have significantly decreased, driven by a 30% drop in coal prices and increased reliance on renewable energy. In Jiangsu, electricity prices fell 24% year-on-year to 313 yuan per megawatt-hour, while Guangdong saw an 8.3% decline to 373 yuan. This shift towards market-based pricing and renewable energy is enhancing China's competitive edge in global manufacturing, particularly in energy-intensive sectors. China's strategy of combining abundant coal resources with aggressive renewable energy development positions it as a leader in both energy security and clean technology, reshaping global industrial competitiveness and energy geopolitics.
Brookfield Asset Management plans to invest up to 95 billion Swedish crowns (US$9.9 billion) in an AI-focused data center in Strangnas, Sweden, creating over 1,000 permanent jobs and 2,000 temporary positions during its construction. This investment highlights Sweden's growing role as a data center hub, attracting major tech companies due to its reliable electricity and strong infrastructure. As Europe faces a critical AI infrastructure gap, Brookfield's project aims to address the increasing demand for AI-capable facilities, reflecting a significant shift in digital infrastructure economics.
Tech giant SAP is urging the US Supreme Court to reconsider a recent antitrust victory achieved by a rival. This move highlights ongoing tensions in the competitive landscape of the tech industry as companies navigate legal challenges related to market practices.
German fintech firm Scalable Capital has successfully raised $169 million in its latest funding round. This significant investment underscores the growing interest in digital financial services and the company's potential for expansion in the fintech sector.
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battery plant construction halted amid electric vehicle and tariff concerns
18:54 06.06.2025
Japan considers emergency rice imports to stabilize soaring prices
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09:18 06.06.2025
us treasury urges bank of japan to continue monetary tightening policy
07:50 06.06.2025
Indonesia aims for complete local telecom testing by 2026
05:22 06.06.2025
Shein faces EU complaint for using manipulative online shopping tactics
07:35 05.06.2025
Swiss healthtech startup Aeon secures 9 million dollars for preventive healthcare expansion
07:00 05.06.2025
China's Power Costs Decline Boosts Industrial Competitiveness Amid Global Energy Shifts
05:50 05.06.2025
Brookfield to invest 9.9 billion dollars in Swedish AI data center
03:50 05.06.2025
sap requests supreme court to review antitrust ruling against rival
18:12 04.06.2025
German fintech company secures 169 million dollars in funding round
11:03 04.06.2025
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