Hungary's opposition flags "New Deal" to kickstart stagnating economy
Hungary’s opposition leader Péter Magyar announced that his Tisza party will introduce a "Hungarian New Deal" to revitalise the country’s slowing...
BMW expects a €1 billion loss for 2025 due to the US-EU tariff dispute, including a 25% duty on certain vehicles and tariffs on its China-made electric cars. The company hopes not all tariffs will remain for the full year.
BMW has stated that it expects tariffs to result in a 1 billion euro ($1.09 billion) hit to its earnings for 2025. The company’s forecast comes amid a trade dispute between the U.S. and the European Union, which has seen increased tariffs on steel, aluminium, and some vehicles from Mexico, including BMW’s cars.
U.S. President Trump has imposed a 25% duty on certain vehicle imports from Mexico and threatened additional tariffs on the EU, which he has described as "hostile and abusive." In response, the EU has pledged to retaliate but continues to call for dialogue to resolve the issue.
BMW’s CEO, Oliver Zipse, mentioned that the company’s estimate is "conservative," though executives do not expect all tariffs to remain in place for the entire year. The company reported a 37% drop in profits last year, partly due to the impact of tariffs and duties on its business.
Meanwhile, French Finance Minister Eric Lombard expressed concerns that a trade war between the EU and the U.S. would negatively impact both economies, describing it as "idiotic." The EU’s trade chief, Maros Sefcovic, is scheduled to speak with U.S. officials about the ongoing tariff conflict.
The trade tensions are already affecting global economic growth, with firms and consumers delaying investments due to the uncertainty surrounding the future of the tariffs.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
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.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
According to a Wall Street Journal report on Saturday, SpaceX is investing $2 billion into xAI as part of a broader $5 billion equity funding round, strengthening the connection between Elon Musk’s various ventures.
European shares dropped on Friday after President Donald Trump intensified tariff threats against the EU, casting doubt on trade talks and dampening investor confidence.
Turkmenistan has gathered 1.407 million tonnes of wheat, matching its 2025 goal after a round-the-clock harvest on 690,000 hectares that officials say was bolstered by new combines and higher state purchase prices.
Azerbaijan Railways CJSC signed a Memorandum of Understanding with the Chinese company 'Xi'an Free Trade Port Construction and Operation' and has opened its representative office and container terminal in the Xi'an International Port.
The UK and Japan have signed a Memorandum of Cooperation (MoC) aimed at enabling increased UK investment into Japan, further strengthening the economic ties between the two nations.
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