Siemens Energy CEO on $2.4 billion wind turbine hit: We were ‘going too fast’ with new products
Siemens Energy has booked 2.2 billion euros ($2.4 billion) in costs due to quality issues at its wind turbine unit.
CNBC Daily Open: A good economy doesn’t mean positive markets
The U.S. economy’s had an unbroken string of victories. Yet markets slumped Friday. This reminds us that the two aren’t the same.
How U.S. microchips are fueling Russia’s military — despite sanctions
Moscow is sourcing a growing number of advanced microchips from the West through intermediary countries such as China, analysis by CNBC shows.
How sanctioned Western tech is fueling Russia’s military
Despite sanctions to stifle Moscow’s war, Russia continues to import U.S. microchips and other advanced Western technologies for use in its military equipment — often through intermediary countries like China, Turkey and the UAE. Such items are crucial…
Oil eases from 4-month high as rally takes a breather
Oil prices eased from four-month highs as crude’s summer rally takes a breather.
How — and when — Ukraine’s war with Russia could end
It’s become abundantly clear that Ukraine’s counteroffensive won’t produce quick results. And Western governments could be supporting Ukraine into 2025.
Bank of Japan debated prospects of sustained inflation at July meeting
At the July meeting, the BOJ kept its YCC targets unchanged but allowed long-term interest rates to rise more freely with inflation and economic growth.
Australia urges China to remove all trade restrictions after barley tariffs lifted
Canberra is expecting Beijing to next drop Australian wine tariffs introduced in March 2021.
Over $1 trillion needed for developing nations’ climate transition, says ex-World Bank official
The lack of resources has made it challenging for those countries to reduce their high carbon emissions and shift to clean energy faster, she noted.
Vietnam’s EV ownership will see ‘strong growth’ in 2023, says new report
A new BMI Research report said that Vietnam’s EV ownership will see strong growth in 2023.
