India’s Tata Group to build $5 billion gigafactory in the UK
The news about the gigafactory plans was welcomed by those within the industry.
EU sends water bombers to battle Greece wildfires as Rome shatters temperature record
It comes as a scorching heatwave continues to grip southern Europe, with temperatures in Italy, Spain and France climbing to fresh record highs.
Turmoil in Thailand as rivals derail election winner’s prime minister bid
U.S.-educated liberal Pita Limjaroenrat has an extremely difficult path to the top job and must overcome fierce resistance from a royalist military.
China says foreign trade faces ‘extremely severe’ situation, blames geopolitics for slump
China’s Commerce Ministry on Wednesday said non-economic factors were growing and interfering with trade.
Ukrainian-founded Duolingo rival Preply banks $70 million to push into A.I.
Preply, a language learning platform connecting people with tutors, raised $70 million of fresh capital to ramp up its use of artificial intelligence.
U.S. professor declines EU job offer after backlash from lawmakers
Fiona Scott Morton had been nominated to take the role of chief competition economist, a prominent role in the team of Margrethe Vestager, EU competition chief.
UK borrowing costs drop sharply after lower-than-expected inflation print
The yield on two-year gilts fell 24 basis points as markets repriced Bank of England peak rate expectations lower.
China’s cautious consumer confidence is dampening economic recovery, says ADB
China’s cautious consumer confidence spending has been a “a dampener” for its fragile recovery, according to Albert Park, chief economist at ADB.
Critical chip firm ASML, caught in China export restrictions, posts 38% rise in profit
ASML said second-quarter net profit totaled 1.9 billion euros ($2.1 billion), marking a 37.6% year-on-year rise.
UK inflation rate slides to 7.9% in June, below expectations
U.K. inflation cooled significantly in June, coming in below consensus expectations at 7.9% annually.
