Global stocks continue their bull run on Friday amid Labour's landslide victory in the UK. The optimism is further fuelled by anticipation of US rate cuts ahead of key jobs data to be released later in the day.

Global stocks hit record highs amid UK election results

Iron ore prices rose to the highest level in almost a month as traders bet on a slight improvement in China's steel industry. Futures in Singapore climbed for a fourth day in a row, adding over 6 per cent in total this week on improved hopes for further demand and a stimulus boost ahead of next week's Third Plenum—a major Chinese political meeting.

Iron ore rallies on China stimulus hopes ahead of key political meeting

Electric Vehicle automakers are witnessing turbulent times as price wars cripple profits. To offset losses, companies are looking to expand to regional markets of Southeast Asia.

China's BYD opens first EV factory in Southeast Asia

Industrial orders in Germany dropped surprisingly in May for the fifth month in a row, raising questions about the outlook of the manufacturing sector in Europe's largest economy, according to the Federal Statistics Office.

German industrial orders fall again, pointing to continued economic struggles

The best-selling car made by Tesla, the Model Y electric vehicle, has been included for the first time in the list of cars a local government can consider buying for its service fleet, says the Chinese media outlet The Paper.

Tesla Model Y approved for Chinese government car purchases

The European Union will attach tariffs of up to 37.6 per cent on all-electric cars imported from China starting this Friday. This comes at a time when trade friction is rising between the economic giants.

EU imposes tariffs on Chinese EVs as trade tensions escalate

Prices of oil plummeted at the beginning of the trading session on Thursday from weak US employment and business activity data, which points to the fact that the world's largest consumer of oil is witnessing a cooling in the economy.

Oil spill amid signs of US economic slowdown

The Australian defence minister, Richard Marles, announced that Australia will shift its top-secret intelligence data to the cloud under an A$2 billion agreement with Amazon Web Services.

Australia secures $2 Billion deal with AWS to fortify intelligence

According to PitchBook data, US venture capital funding had its highest quarterly total in two years at $55.6 billion in the second quarter, rising 47 per cent from $37.

AI frenzy fuels record-high VC funding surge

Amazon has announced that it would axe its security robot Astro for Business to focus only on in-home robots. Astro was initially launched in 2021 for homes and in November for small and medium-sized businesses.

Amazon discontinues Astro for Business to focus on household robots

Wavering consumer demand in China is spilling to the plates. Beef prices in the country are at a five-year low amid a slowing economy. This comes as the government pushes farmers to raise production and open the door for more imports.

Beef prices plunge in China as demand wavers

India’s services industry witnessed an unexpected contraction in June as new orders shrink, according to survey data released on Wednesday. This defied a Reuters poll which predicted smooth sailing for the sector.

India's service sector unexpectedly contracts in June amid market optimism

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Zee News Rajasthan

Editor

Hardik Bhardwaj

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