Author: Jack Mulligan

Governing board leans toward smaller rate cuts Most members of the Bank of Mexico’s governing board now favor a more cautious pace of monetary easing, according to minutes from June’s rate decision. After four consecutive cuts, including a 50-basis-point reduction last month, the majority of policymakers suggest the central bank may be approaching the limit of aggressive action as inflation remains above target and economic growth stays sluggish. All four board members who supported June’s half-point cut expressed support for scaling back future adjustments. At least two suggested that the June cut should be the final one of that magnitude,…

Fifth consecutive monthly growth masks rising competition risks China’s car sales rose 18.6% year-over-year in June to 2.1 million units, extending a five-month growth streak, according to the China Passenger Car Association (CPCA). First-half sales climbed 11.2% to 11.1 million vehicles, signaling sustained market momentum despite growing concerns among electric vehicle makers. Sales of electric vehicles (EVs) and plug-in hybrids remained robust, surging 29.7% from June 2024 and accounting for 52.7% of total car sales. That’s up from a 28.2% share the previous month. However, major EV players showed signs of deceleration. BYD, Li Auto signal weakening momentum Local EV…

Trump’s trade campaign accelerates revenue surge U.S. Treasury Secretary Scott Bessent announced Tuesday that the country has already collected around $100 billion in tariff revenue so far this year, and that total could triple to $300 billion by the end of 2025. The surge follows President Donald Trump’s renewed trade offensive, which introduced sweeping tariff hikes in the second quarter. Speaking at a White House cabinet meeting, Bessent said the new tariffs — including a blanket 10% duty on most imports and increased rates on steel, aluminum, and autos — only began to take effect recently. “So we could expect…

China’s shifting focus draws investor attention While the U.S. remains the world’s largest economy, investors and financial advisors would be remiss to overlook China’s growing significance. As the second-largest global economy, China plays a critical role in shaping worldwide market trends. Ongoing tariff tensions with the U.S. have introduced new uncertainties, but China is actively adapting its strategy to offset external pressures. Recent insights from American Century Investments highlight how China is moving to stimulate domestic consumption. Measures include local employment subsidies, legislation for paid annual leave, and policies to stabilize its stock and real estate markets. These efforts reflect…

Tariff shock sends copper prices to record highs President Donald Trump said Tuesday he will impose a 50% tariff on all copper imported into the United States, marking the fourth broad tariff of his second term. The announcement came during a Cabinet meeting, though the administration has not provided a specific timeline for implementation. “Today we’re doing copper,” Trump said, confirming that the tariff rate would be 50%. The White House declined to comment further on when the measure would take effect. The tariff follows a Section 232 investigation launched in February, which allows the president to impose trade restrictions…

Strategic expansion taps into Europe’s AI infrastructure push U.S. semiconductor startup Groq has opened its first data center in Europe, selecting Helsinki, Finland as its operational base. The facility, developed in partnership with Equinix, marks a major step in Groq’s global expansion as it aims to meet surging demand for AI inference capabilities across the continent. Groq, valued at $2.8 billion and backed by the investment arms of Samsung and Cisco, builds Language Processing Units (LPUs) optimized for AI inferencing—a critical task where trained models analyze real-time data. Unlike Nvidia’s dominant GPUs, which are essential for training large-scale models, Groq’s…

Public backlash reveals rising pressure in China’s AI race Huawei’s usually silent AI research arm, Noah’s Ark Lab, broke protocol over the weekend to reject allegations of code plagiarism linked to its new AI model, Pangu Pro MoE. The model, designed to run on Huawei’s proprietary Ascend chips, came under scrutiny after a GitHub group named HonestAGI claimed it contained uncredited code fragments. Though the original post was deleted, a follow-up titled Pangu’s Sorrow accused Huawei’s team of lagging behind domestic competitors and facing internal pressure to deliver results. In a rare public response, Huawei strongly denied any wrongdoing, asserting…

China’s overcapacity and BYD dominance put smaller rivals at risk Thailand’s electric vehicle (EV) market is witnessing the fallout of China’s hyper-competitive EV sector as smaller players like Neta struggle to survive. Once a promising entrant, Neta is now facing dealer lawsuits, unpaid government incentives, and plummeting market share, threatening its local production ambitions. Introduced to Thailand in 2022, Neta benefited from a government incentive program that waived import duties in exchange for a commitment to match imports with domestic production by 2024. However, citing slowing demand and tight credit conditions, Neta has failed to meet production targets. Thai authorities…

Traders brace for possible August output hike by OPEC+ Oil prices edged lower on Friday in light U.S. holiday trading, as investors anticipated this weekend’s key OPEC+ meeting, where a potential increase in crude production for August is expected. Brent crude settled down 50 cents, or 0.7%, at $68.30 per barrel, while U.S. West Texas Intermediate (WTI) slipped 0.75% to $66.50. The session saw limited activity due to the U.S. Independence Day holiday, with investors largely in a holding pattern ahead of Saturday’s OPEC+ gathering, which was moved forward from Sunday. Despite the dip, both benchmarks ended the week higher,…

Galaxy Z Fold 7, Flip 7 and possible Ultra model expected Samsung has officially set its next Galaxy Unpacked event for July 9 at 10AM ET, marking the company’s third major launch of the year. Following the Galaxy S25 series in January and the virtual unveiling of the Galaxy S25 Edge, this mid-year presentation is expected to spotlight foldables, wearables and artificial intelligence integrations. All signs point to the unveiling of the Galaxy Z Fold 7 and Z Flip 7, continuing the annual refresh of Samsung’s flagship foldable lineup. Recent leaks hint at larger displays (up to 6.5 inches cover…