Morning brief: Apple’s Vietnam move; Coinbase’s India deal; Trump’s China feud
A day of significant global developments is underway, as Apple signals a major new chapter in its manufacturing strategy, Japan’s opposition parties plot a historic power play, and Singapore takes a bold step to decarbonize the aviation industry.
Here’s your one-stop stand to catch up on all the headlines you may have missed.
Apple is set to build a new tabletop robot and home hub in Vietnam
In a major strategic shift, Apple Inc. is preparing to expand its manufacturing operations into Vietnam as it pushes into the smart home market and continues its effort to lessen its dependence on China.
The company is developing a range of new home devices, including a display designed to serve as a house command hub and a more advanced tabletop robot.
According to people with knowledge of the matter, all three new products are on track to be built in Vietnam, a significant change from Apple’s typical approach of launching new devices in China before expanding production elsewhere.
Singapore will impose a new green aviation fuel levy on all departing flights
Singapore’s parliament has passed a bill that will introduce a fixed levy on all departing flights in a bid to cut emissions and support the use of sustainable aviation fuel (SAF).
The levy will be paid to the country’s Civil Aviation Authority, which will then procure and manage the SAF for airlines.
Singapore has set a goal to raise its use of the green fuel to more than 1 percent by 2026, a move it says will not significantly raise airfares, with estimates suggesting a charge of between 3 and 16 Singapore dollars for an economy class ticket.
Japan’s main opposition leaders will meet to discuss uniting behind a single candidate for prime minister
The heads of Japan’s main opposition parties are scheduled to meet on Wednesday to discuss whether they can bridge their policy gaps and unite behind a single candidate for the nation’s premiership.
The leaders of the three parties have enough combined seats in the powerful lower house of parliament to block the ruling party’s new leader, Sanae Takaichi, from becoming prime minister.
The high-stakes meeting comes after the collapse of the ruling coalition last week, a development that has thrown the country’s political future into a state of deep uncertainty.
The US-China ‘cooking oil feud’ comes as sales were already in a steep decline
Chinese exports of used cooking oil to the US were already in a sharp retreat well before President Donald Trump chose them as the latest flashpoint in his trade war with Beijing.
Trump has seized on the purchases as a possible weapon to counter China’s refusal to buy US soybeans, but data shows that Chinese sales of the product to the US have already plunged this year after Beijing scrapped its tax relief on exports.
In the first seven months of the year, sales were about 387,000 tons, a full 43 percent below the previous year’s pace.
Coinbase has backed the Indian exchange CoinDCX at a new 2.45 billion dollar valuation
Coinbase Global has invested in the Mumbai-based exchange CoinDCX as the US giant seeks to deepen its exposure to the massive Indian market. The investment, which is an extension of CoinDCX’s last fundraise, will give the Indian firm a new post-money valuation of 2.45 billion dollars.
The move comes as global crypto players like Binance and Bybit are all attempting to expand in India despite a punitive tax regime, and just months after Coinbase itself registered with India’s Financial Intelligence Unit, paving the way for it to offer its own services in the country.
The post Morning brief: Apple's Vietnam move; Coinbase's India deal; Trump's China feud appeared first on Invezz
Read More
Fed’s dovish stance fuels gold surge as experts eye further gains
Europe markets open: CAC 40 soars 2.4%, Stoxx +0.7% on a stunning luxury rally
Morning brief: Apple’s Vietnam move; Coinbase’s India deal; Trump’s China feud
A day of significant global developments is underway, as Apple signals a major new chapter in its manufacturing strategy, Japan’s opposition parties plot a historic power play, and Singapore takes a bold step to decarbonize the aviation industry.
Here’s your one-stop stand to catch up on all the headlines you may have missed.
Apple is set to build a new tabletop robot and home hub in Vietnam
In a major strategic shift, Apple Inc. is preparing to expand its manufacturing operations into Vietnam as it pushes into the smart home market and continues its effort to lessen its dependence on China.
The company is developing a range of new home devices, including a display designed to serve as a house command hub and a more advanced tabletop robot.
According to people with knowledge of the matter, all three new products are on track to be built in Vietnam, a significant change from Apple’s typical approach of launching new devices in China before expanding production elsewhere.
Singapore will impose a new green aviation fuel levy on all departing flights
Singapore’s parliament has passed a bill that will introduce a fixed levy on all departing flights in a bid to cut emissions and support the use of sustainable aviation fuel (SAF).
The levy will be paid to the country’s Civil Aviation Authority, which will then procure and manage the SAF for airlines.
Singapore has set a goal to raise its use of the green fuel to more than 1 percent by 2026, a move it says will not significantly raise airfares, with estimates suggesting a charge of between 3 and 16 Singapore dollars for an economy class ticket.
Japan’s main opposition leaders will meet to discuss uniting behind a single candidate for prime minister
The heads of Japan’s main opposition parties are scheduled to meet on Wednesday to discuss whether they can bridge their policy gaps and unite behind a single candidate for the nation’s premiership.
The leaders of the three parties have enough combined seats in the powerful lower house of parliament to block the ruling party’s new leader, Sanae Takaichi, from becoming prime minister.
The high-stakes meeting comes after the collapse of the ruling coalition last week, a development that has thrown the country’s political future into a state of deep uncertainty.
The US-China ‘cooking oil feud’ comes as sales were already in a steep decline
Chinese exports of used cooking oil to the US were already in a sharp retreat well before President Donald Trump chose them as the latest flashpoint in his trade war with Beijing.
Trump has seized on the purchases as a possible weapon to counter China’s refusal to buy US soybeans, but data shows that Chinese sales of the product to the US have already plunged this year after Beijing scrapped its tax relief on exports.
In the first seven months of the year, sales were about 387,000 tons, a full 43 percent below the previous year’s pace.
Coinbase has backed the Indian exchange CoinDCX at a new 2.45 billion dollar valuation
Coinbase Global has invested in the Mumbai-based exchange CoinDCX as the US giant seeks to deepen its exposure to the massive Indian market. The investment, which is an extension of CoinDCX’s last fundraise, will give the Indian firm a new post-money valuation of 2.45 billion dollars.
The move comes as global crypto players like Binance and Bybit are all attempting to expand in India despite a punitive tax regime, and just months after Coinbase itself registered with India’s Financial Intelligence Unit, paving the way for it to offer its own services in the country.
The post Morning brief: Apple's Vietnam move; Coinbase's India deal; Trump's China feud appeared first on Invezz
Read More
Fed’s dovish stance fuels gold surge as experts eye further gains