Author: Daniel snow
An electric car at a charging station in the Norwegian capital of Oslo on Sept. 25, 2024.Jonathan Nackstrand | Afp | Getty ImagesOSLO, Norway — Tesla continues to find solace in Norway, defying a sustained European slump amid a backlash over CEO Elon Musk’s incendiary political rhetoric.The U.S. electric vehicle maker recorded a 54% year-on-year jump in new car sales in Norway in June, according to data from the Norwegian Road Federation (OFV), fueled by a 115.3% yearly increase in registrations for its revamped Model Y sports utility vehicle.The data backed up a whopping 213% increase in new car sales…
Shelf of pharmaceutical products. D3sign | Moment | Getty ImagesThe pharmaceutical industry is scrambling with scenario planning as U.S. President Donald Trump’s 200% tariff proposal threatens to drive up drug prices and rip out corporate profit margins.The president once again warned on Tuesday that long-awaited industry-wide tariffs would be announced “very soon” after the administration launched a so-called 232 investigation into the sector in April.Trump suggested that those levies would not go into effect immediately, but get a grace period of “about a year, year and a half to come in.”Analysts nevertheless warn that such a rate — even with a…
The Hofburg palace receives attendees to the July 9-10 OPEC Seminar conference in Vienna.Ruxandra Iordache | CNBCFor centuries, Vienna’s romantic Hofburg palace served as a winter residence of the imperial Habsburg dynasty — this week, though, it welcomed Saudi royalty, energy ministers, top CEOs and a slew of analysts traders and more.Here are some highlights:The palaceSince 1965, Vienna has housed the headquarters of the OPEC Secretariat — the administrative backbone of the 12-member OPEC alliance of oil producers.The Secretariat is led by a secretary-general — currently, former Kuwaiti official Haitham al-Ghais, who took office for his first three-year term in 2022 and has since…
Prosecutions for atrocities are not always enough to stop hatred. Societies must also acknowledge what happened. Source link
New payment systems allow users and banks to bypass the U.S. currency and sanctions. Source link
Asia FX set for weekly losses on Trump tariff barrage; yen leads decline Source link
Tough talk on tariffs, reports of border detentions and unfavorable exchange rates are putting some travelers, especially Canadians, off trips to the United States this year.But those in Asia say they’re avoiding trips to the U.S. for different reasons.Nearly 80% of Southeast Asian travelers said the United States is losing appeal as a travel destination, according to a CNBC Travel survey.One in four said their interest in visiting the country declined in the past six months, with respondents saying they’re more concerned about potential discrimination, actions by the Trump administration and gun violence than they are about costs.News about tariffs…
U.S. President Donald Trump and Canada’s Prime Minister Mark Carney talk during a family photo at the G7 Summit in Kananaskis, Alberta, Canada, June 16, 2025. Amber Bracken | ReutersU.S. President Donald Trump on Thursday announced a 35% tariff on Canadian imports, starting Aug. 1, citing that Ottawa had retaliated with tariffs against Washington.”Instead of working with the United States, Canada retaliated with its own Tariffs,” Trump said in his letter to Mark Carney, prime minister of Canada, posted on Truth Social.He attributed fentanyl as a reason for the rate in the letter and said: “If Canada works with me…
United States President Donald Trump speaks to the Press before departs at the White House to Alligator Alcatraz, Florida on July 1, 2025, in Washington DC. Celal Gunes | Anadolu | Getty ImagesPresident Donald Trump’s politically charged new tariff threat — a blanket 50% duty on imports from Brazil — stretches an interpretation of his powers that is already facing a high-stakes court challenge.Trump said in a letter Wednesday that he is imposing the massive new tariff at least partly in retaliation against Brazil’s treatment of its former president, Jair Bolsonaro.But to do so, he is citing a law that…
In a Thursday interview with CNBC’s Jim Cramer, Levi Strauss CEO Michelle Gass reviewed the apparel maker’s most recent quarter and explained that strong business abroad helps shield the company from the effects of new U.S. tariffs.”We are competitively positioned better than most as it relates to tariffs,” Gass said. “Number one, 60% of our business is international now.”Gass noted that the denim retailer has “assumed tariffs” in the guidance for the most recent quarter — 30% from China and 10% from the rest of the world. She also said Levi’s exposure to China is minimal. The company has longstanding…