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Thursday, July 31, 2025

Electric Vehicles
BorgWarner Inc. (NYSE:BWA) Shares Sold by Signaturefd LLC
BorgWarner Inc. (NYSE:BWA) Shares Sold by Signaturefd LLC
By MarketBeat News

Here is a concise summary of the news article: Signaturefd LLC reduced its stake in BorgWarner Inc. (NYSE:BWA) by 63.5% in the first quarter, owning 1,454 shares worth $42,000. Other institutional investors, including Dimensional Fund Advisors LP, Invesco Ltd., and Alliancebernstein L.P., increased their stakes in the company. BorgWarner reported $1.11 EPS for the quarter, beating estimates, and announced a quarterly dividend of $0.11 per share. Analysts have issued reports on the stock, with several upgrading their price targets and ratings. The company's stock has a consensus target price of $39.07 and an average rating of "Moderate Buy".

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83 wildlife deaths recorded in Chitwan National Park in 2024/25
83 wildlife deaths recorded in Chitwan National Park in 2024/25

July 24, 2025 • By Khabarhub

Chitwan National Park recorded 83 wild animal deaths in the last fiscal year. 45 died from natural causes, including 18 rhinoceroses. Human-related factors, such as vehicle collisions and dog attacks, also contributed to the deaths. Despite the losses, the park rescued 135 animals, including rhinos, tigers, and snakes, during the same period.

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Arizona State Retirement System Acquires 5,945 Shares of EVgo Inc. (NASDAQ:EVGO)
Arizona State Retirement System Acquires 5,945 Shares of EVgo Inc. (NASDAQ:EVGO)

July 24, 2025 • By MarketBeat News

Arizona State Retirement System increased its stake in EVgo Inc. (NASDAQ:EVGO) by 20.1% during the 1st quarter, owning 35,481 shares worth $94,000. Other institutional investors, such as Price T Rowe Associates Inc. MD and Charles Schwab Investment Management Inc., also modified their holdings in EVGO. The company's stock opened at $3.93 on Thursday, with a market cap of $1.21 billion. EVgo reported ($0.09) EPS for the quarter, beating the consensus estimate, and had revenue of $75.29 million, up 36.4% compared to the same quarter last year. Analysts predict that EVgo will post -0.45 earnings per share for the current fiscal year.

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Tensions simmer as Xi courts EU while Brussels demands trade rebalance
Tensions simmer as Xi courts EU while Brussels demands trade rebalance

July 24, 2025

European Commission President Ursula von der Leyen called for a more balanced trade relationship between the EU and China, citing the EU's growing trade deficit with China. She highlighted three key areas of concern, including overcapacity, market access, and export controls on rare earths and permanent magnets. Von der Leyen warned that without progress on these issues, it would be difficult for the EU to maintain its current level of openness. Chinese President Xi Jinping vowed to deepen ties with the EU, describing the bilateral relationship as "mutually beneficial." However, trade tensions between the two parties remain, with the EU raising tariffs on Chinese electric vehicles and China launching anti-dumping probes into European products. The EU wants more balanced economic ties and for China to do more to bring Russia to the negotiating table over the Ukraine conflict, while Beijing seeks to reverse the EU's restrictions on Chinese firms.

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Mystery Solved: Apple’s Biggest iOS 26 Secret Revealed
Mystery Solved: Apple’s Biggest iOS 26 Secret Revealed

July 24, 2025 • By Roland Hutchinson

Here is a concise summary of the news article: Apple's iOS 26 introduces several new features, including video streaming capabilities for CarPlay, new emojis, and improved location-sharing controls. The update also includes a refined "liquid glass" design and smarter AirPods functionality with sleep detection. These features aim to enhance the user experience, convenience, and safety. Additionally, Apple is rolling out iOS 18.6 Release Candidate for older devices, demonstrating its commitment to supporting its broader user base. The iOS 26 beta program continues to evolve, with upcoming updates expected to include additional refinements and adjustments. Overall, iOS 26 represents a significant step forward in Apple's software ecosystem, offering a range of features designed to enhance the user experience.

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India PM Modi in UK to sign 'landmark' trade deal with Starmer
India PM Modi in UK to sign 'landmark' trade deal with Starmer

July 24, 2025 • By Cherylann Mollan - BBC News, Mumbai

King Charles has met with Indian Prime Minister Narendra Modi at Sandringham after a free trade deal was signed between the UK and India. The deal, which took three years to reach, will make UK cars and whisky cheaper to export to India, and Indian textiles and jewelry cheaper to export to the UK. The agreement is expected to boost the British economy by £4.8bn a year and create over 2,200 jobs. The deal also includes a plan to tackle illegal migration and commits to closer collaboration on defense, education, climate, and technology. Average tariffs for UK exports to India will drop from 15% to 3%, making it easier for British companies to sell goods in India. The agreement has been welcomed by both governments, with Modi calling it a "blueprint for our shared prosperity" and UK Prime Minister Sir Keir Starmer saying it is a "landmark moment" for the two countries.

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India PM Modi in UK to sign 'landmark' trade deal with Starmer
India PM Modi in UK to sign 'landmark' trade deal with Starmer

July 24, 2025

King Charles has met with Indian Prime Minister Narendra Modi at Sandringham after a free trade deal was signed between the UK and India. The deal, which took three years to reach, will make UK cars and whisky cheaper to export to India, and Indian textiles and jewelry cheaper to export to the UK. The agreement is expected to boost the British economy by £4.8bn a year and create over 2,200 jobs. The deal also includes a plan to tackle illegal migration and commits to closer collaboration on defense, education, climate, and technology. Average tariffs for UK exports to India will drop from 15% to 3%, making it easier for British companies to sell goods in India. The agreement has been welcomed by both governments, with Modi calling it a "blueprint for our shared prosperity" and UK Prime Minister Sir Keir Starmer saying it is a "landmark moment" for the two countries.

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India has significant rare earth reserves – minister
India has significant rare earth reserves – minister

July 24, 2025 • By RT

India has approximately 7.23 million tonnes of rare earth elements, with an additional 1.29 million tonnes found in hard rocks in Gujarat and Rajasthan. These elements are crucial for defense, electronics, and electric vehicle batteries. Despite having the world's third-largest reserves, less than 20% has been explored. To boost domestic production, India launched a $156 million subsidy scheme, aiming to establish a domestic capacity for rare earth magnets amid China's export restrictions, which currently dominate the global market with a 60% share.

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Why China's export machine keeps humming, despite the US's tariff squeeze
Why China's export machine keeps humming, despite the US's tariff squeeze

July 24, 2025 • By Huileng Tan

Here is a concise summary of the news article: China's exports to the US have declined due to heavy tariffs under the Trump administration, but the country's overall export growth has remained resilient. According to ING and Goldman Sachs, China's exports have been offset by growth in trade with other economies, such as Southeast Asia, the EU, Latin America, and India. In the first half of the year, China's exports to the world grew 5.9% despite a 35% plunge in shipments to the US. The shift is notable in high-tech sectors, with exports of semiconductors, lithium batteries, and electric vehicles posting double-digit growth. Analysts expect China's growth to moderate in the second half of the year but still contribute to the country's growth target of around 5%.

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Musk warns of ‘rough’ patch after Tesla’s difficult quarter
Musk warns of ‘rough’ patch after Tesla’s difficult quarter

July 24, 2025 • By Kara Carlson

Here is a concise summary of the news article: Elon Musk warned of a hard year ahead for Tesla, citing the loss of electric vehicle incentives in the US and the lengthy process of rolling out driverless vehicles. Tesla reported a disappointing quarter, with adjusted earnings of 40 cents a share, missing Wall Street's estimates, and revenue falling 12% to $22.5 billion. The company's stock fell 5.3% in post-market trading. Musk said it could be late 2026 before Tesla has "compelling" economics again, and that the company may have a few rough quarters ahead. Tesla is investing in robotics and autonomous driving, but the process will have "teething pains." The company also reported falling sales from energy generation and storage, and rising costs from tariffs. Musk reiterated his desire for a greater ownership stake in Tesla to prevent his ouster from an activist investor.

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June European car sales slump as automakers' woes deepen
June European car sales slump as automakers' woes deepen

July 24, 2025 • By RTÉ News

Here is a concise summary of the news article: New car sales in Europe fell 5.1% in June, according to the European Automobile Manufacturers Association (ACEA). The top four car manufacturers - Volkswagen, Stellantis, Renault, and Hyundai - all sold fewer cars than in June 2024. Tesla's sales declined 22.9%, and its market share dropped to 2.8%. However, sales of electric and hybrid cars rose, with these vehicles accounting for 59.8% of EU passenger car registrations in June. The share of Chinese carmakers, such as BYD, more than doubled to 4.5%. Overall, car sales fell in major European markets, including Germany, France, and Italy, but rose in Britain and Spain.

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Xi says China, EU must deepen trust but bloc chief urges 'real solutions'
Xi says China, EU must deepen trust but bloc chief urges 'real solutions'

July 24, 2025 • By AFP

Chinese President Xi Jinping met with EU leaders in Beijing, emphasizing the need to deepen trust in a turbulent world. However, EU chiefs called for "real solutions" to move past current challenges, indicating that the talks would be tense. The meeting aimed to address various issues and find ways to improve relations between China and the EU.

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Charles Michel asks: ‘Where’s the EU’s China policy?’
Charles Michel asks: ‘Where’s the EU’s China policy?’

July 24, 2025 • By Eddy Wax

Here is a concise summary of the news article: The European Commission is facing scrutiny over its management style, particularly the influence of Ursula von der Leyen's inner circle. Meanwhile, the Parliament has declined to clarify its neutrality rules, leaving uncertainty over items like the keffiyeh or religious garments.

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Xi says China, EU must deepen trust but bloc chief urges 'real solutions'
Xi says China, EU must deepen trust but bloc chief urges 'real solutions'

July 24, 2025 • By hurriyetdailynews.com

Here is a concise summary of the news article: Chinese President Xi Jinping met with European Union leaders, including European Council President Antonio Costa and European Commission President Ursula von der Leyen, in Beijing on Thursday. Xi emphasized the need for China and the EU to deepen trust and cooperation in a turbulent world. However, EU leaders called for "real solutions" to address deep divisions, including trade concerns, China's support for Russia's war in Ukraine, and market access issues. The EU has imposed tariffs on Chinese electric vehicles, while China has launched probes into European imports. The meeting comes as the EU seeks to confront China on various issues, including its trade deficit and concerns over China's relationship with Russia.

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Anglo American's copper, diamond production falls in first half
Anglo American's copper, diamond production falls in first half

July 24, 2025 • By Reuters

Here is a concise summary of the news article: Earnings reports are expected from Honeywell, Union Pacific, Blackstone, and Keurig Dr. Pepper in the morning, and Intel and Deckers in the afternoon. New-home sales data for June is expected to show an uptick to 650,000. Anglo American reported a 13% fall in copper production and a 26% fall in rough diamonds in the first half of the year. Despite this, the company still expects to meet its copper production targets and is restructuring its business to focus on copper and iron ore. Iron ore production increased by 2% in the first half. Anglo American is also advancing the sale of its diamond unit De Beers, despite challenging market conditions.

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Tesla likely faces 'a few rough quarters', Musk says
Tesla likely faces 'a few rough quarters', Musk says

July 24, 2025 • By RTÉ News

Here is a concise summary of the news article: Tesla CEO Elon Musk warned that US government cuts in support for electric vehicle makers could lead to a "few rough quarters" for the company. Tesla's quarterly sales declined by 13.5%, and profit missed Wall Street targets. The company's revenue fell to $22.5 billion, a 12% drop, despite the launch of a refreshed Model Y SUV. Musk is pursuing autonomous driving and plans to roll out a robotaxi service, which is expected to have a material impact on financials by the end of next year. Tesla is also working on a new, cheaper car, but production will ramp up slower than expected. Musk's comments led to an 8% drop in Tesla shares in opening trade on Wall Street.

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European leaders press demands on trade at scaled-back summit in Beijing
European leaders press demands on trade at scaled-back summit in Beijing

July 24, 2025 • By SAM MCNEIL Associated Press, KEN MORITSUGU Associated Press

European leaders met with President Xi Jinping in Beijing, calling for a more balanced relationship with China. They emphasized the need to address Europe's significant trade deficit with China, which was around 300 billion euros last year. European Commission President Ursula von der Leyen stated that the current relationship is unsustainable and that rebalancing is essential for mutual benefit. The summit was scaled back to one day due to low expectations and ongoing global financial uncertainty. Key issues discussed included trade, the war in Ukraine, and climate change. China's stance has hardened, and it is unlikely to make significant concessions. The EU has concerns about Chinese cyberattacks, espionage, and human rights record, while China wants the EU to keep its markets open and provide a favorable business environment. The EU has leverage as China's largest export market, but the summit's outcome is uncertain.

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European car sales slump in June as automakers' woes deepen
European car sales slump in June as automakers' woes deepen

July 24, 2025 • By Reuters

Here is a concise summary of the news article: European car sales declined 5.1% in June, with major automakers such as Volkswagen, Stellantis, Renault, and Hyundai experiencing significant drops in sales. Tesla also lost market share for the sixth consecutive month, despite a rise in overall electric car sales. The share of Chinese carmakers, including BYD, more than doubled to 4.5%. Electric and hybrid vehicle registrations increased, accounting for 59.8% of EU passenger car registrations. The decline in sales is attributed to global challenges, including competition from China and US import tariffs.

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EU-China summit – who’s attending and what’s on the agenda?
EU-China summit – who’s attending and what’s on the agenda?

July 24, 2025 • By Priyanka Shankar

The European Union (EU) and China are set to hold a top-level summit in Beijing on Thursday, marking 50 years of diplomatic ties. However, the mood is tense, with low expectations for concrete bilateral deals due to trade disagreements and geopolitical tensions. The EU views China as a partner for global challenges, an economic competitor, and a systemic rival. The summit will focus on global affairs, bilateral relations, and trade issues, including market access and rare earth elements. The EU will also address the Russia-Ukraine war, with China's close ties to Moscow being a thorny issue. Human rights concerns, including abuses against Uighur Muslims in Xinjiang, will also be raised. The EU has imposed sanctions on Chinese officials and companies, while China has retaliated with its own sanctions. The summit comes amid US President Donald Trump's global tariff war, which both the EU and China are navigating. Despite the challenges, the EU seeks to engage with China in a constructive and positive manner, while also protecting European interests and values.

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