U.S. may impose BRICS tariff only if 'anti-American' policies adopted
A planned 10% U.S. tariff targeting BRICS nations will be triggered only if they adopt policies deemed "anti-American", a source close to the Trump ad...
Tesla's 2024 deliveries dropped 1.1%, missing estimates. Aging models, competition, and high costs weigh on sales, despite China growth and Cybertruck's debut. Shares fell 6%.
Tesla reported its first annual drop in deliveries, falling 1.1% to 1.79 million in 2024, below analyst estimates of 1.806 million.
Despite offering incentives like interest-free financing and free fast charging, high borrowing costs, reduced European EV subsidies, and increased competition—especially from China's BYD—impacted sales. BYD's battery-electric vehicle sales rose 12.1% to 1.76 million, narrowing the gap with Tesla.
Deliveries of Tesla's Model 3 and Model Y reached 471,930 in Q4, with 23,640 units from other models, including the new Cybertruck. However, overall Q4 deliveries of 495,570 missed estimates of 503,269. Production fell 7% year-over-year.
Tesla saw record sales in China, rising 8.8% to over 657,000 vehicles, but European registrations dropped 24% due to competition from Volkswagen's Skoda Enyaq. Analysts noted that Tesla's aging lineup might be nearing saturation, with the Cybertruck showing weaker-than-expected demand.
CEO Elon Musk plans to pivot towards self-driving taxis to drive future growth but faces regulatory hurdles and technological delays.
Analysts caution Tesla must rely on cheaper models and Cybertruck success to achieve its ambitious 2025 growth targets.
Tesla shares fell 6% following the report, despite a 60% rise in 2024, bolstered by Musk's support for President-elect Donald Trump. Proposed policy changes, including ending EV tax credits, may further challenge Tesla's U.S. market.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
US President Donald Trump has declared a 25% tariff on imports from Japan and South Korea starting August 1, urging both nations to shift production to the US and warning of further tariff hikes if retaliatory measures are taken.
Tesla shares fell sharply after Elon Musk announced a new political party, intensifying his feud with Donald Trump over a controversial spending bill passed by Congress.
The United States will make several trade announcements in the next 48 hours, Treasury Secretary Scott Bessent said on Monday, ahead of a U.S. deadline on Wednesday to finalize trade pacts.
President Donald Trump said the U.S. will impose an additional 10% tariff on any countries aligning themselves with the "Anti-American policies" of the BRICS group of developing nations, whose leaders kicked off a summit in Brazil on Sunday.
The BRICS member countries have reached a new agreement to establish a multilateral financial guarantee mechanism aimed at supporting sustainable development projects, including the energy transition, the expansion of renewable energy, and the strengthening of resilient infrastructure.
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