Mineral explorers in Brazil competing for $1 billion in funding to meet demand for rare earths. China maintains control of rare earths, impacting foreign companies. Restrictions on exports of rare earths increasing, causing challenges for international businesses. EU heavily reliant on rare earth imports from China. Business confidence in China declining due to trade tensions and supply chain disruptions.
European Chamber of Commerce plans to discuss rare earth access with EU policymakers. Urging China to address overproduction and involve private sector in major industries. China’s upcoming meeting to set development goals for 2026-2030 will impact European businesses. Policy choices in China, such as “Made in China 2025,” have significant implications for international trade.
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1. Apple unveils new iPhone 13 with improved cameras and longer battery life. The tech giant also announces updates to other products, including the Apple Watch and iPad. The iPhone 13 will be available for pre-order starting this Friday.
2. Inflation rises by 0.3% in August, lower than expected. The increase is driven by higher prices for food and energy, while prices for used cars and trucks decline. Experts predict inflation will continue to be a concern in the coming months.
3. Amazon plans to hire 125,000 new employees in the United States, offering sign-on bonuses of up to $3,000. The e-commerce giant aims to fill positions in fulfillment centers, transportation networks, and technology roles. The company also plans to increase hourly wages for current employees.
4. The Federal Reserve announces plans to start reducing its monthly bond purchases later this year. The move is seen as a step towards normalizing monetary policy as the economy recovers from the pandemic. The Fed also signals that interest rate hikes could be on the horizon.
5. Tesla faces scrutiny over safety concerns after a series of accidents involving its Autopilot feature. The National Highway Traffic Safety Administration is investigating the incidents, which have raised questions about the effectiveness of Tesla’s self-driving technology. The company defends its safety record and emphasizes the need for driver attention.: China keeps tight grip on rare earths, costing at least one company ‘millions of euros’