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Associated Press
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US plans to impose major new tariffs on EVs, other Chinese green energy imports, AP sources say

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  • Singapore cenbank fines JPMorgan $1.8 million over misconduct by relationship managers

    The Monetary Authority of Singapore (MAS) said JPMorgan's relationship managers provided inaccurate or incomplete information to clients in 24 instances of over-the-counter bond transactions, charging them spreads above the agreed rates. MAS said in a statement that JPMorgan Chase did not have adequate processes and controls to ensure that relationship managers adhered to pre-agreed spreads with clients.

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  • UPDATE 2-Singapore cenbank fines JPMorgan $1.8 mln over misconduct by relationship managers

    Singapore's central bank said on Monday it fined U.S. lender JPMorgan Chase S$2.4 million ($1.79 million) for failing to prevent and detect misconduct committed by its relationship managers. The Monetary Authority of Singapore (MAS) said JPMorgan's relationship managers provided inaccurate or incomplete information to clients in 24 instances of over-the-counter bond transactions, charging them spreads above the agreed rates. MAS said in a statement that JPMorgan Chase did not have adequate processes and controls to ensure that relationship managers adhered to pre-agreed spreads with clients.

  • Elon Musk asks court to stop OpenAI from dropping nonprofit status

    In a Friday court filing, Elon Musk asked the court issue an injunction to prevent OpenAI from completing its transition to a for-profit entity.

  • Stellantis CEO Tavares quits: Why his EV bet sparked his departure

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  • Russian factory activity expands marginally in November, PMI shows

    The S&P Global Purchasing Managers' Index (PMI) for Russian manufacturing rose to 51.3 from 50.6 in October, moving further above the 50 level that separates expansion and contraction. Russia's significant spending on producing military equipment and weapons since invading Ukraine in February 2022 has buoyed a manufacturing sector that otherwise may have suffered as some countries shunned Moscow. Gradually, Russian manufacturers have found new markets overseas.

  • Australia restricting number of domestic workers foreign diplomats can bring into the country, UN official says

    Information campaign directed at diplomatic missions expected after court cases highlighted ‘slave-like’ working conditions for domestic workers

  • India says it is probing three EV makers for fraudulently availing subsidies

    The Serious Fraud Investigation Office conducted search operations at Hero Electric Vehicles, Benling India Energy and Technology and Okinawa Autotech Internationall and found that they were violating guidelines tied to a production-linked government subsidy program, the MCA said. The subsidy program called FAME II was launched in 2019 by India's Ministry of Heavy Industries (MHI) to boost local manufacturing of electric vehicles and spur their adoption in the world's third-largest auto market.

  • Latest US strike on China's chips hits semiconductor toolmakers

    (Reuters) -The United States on Monday launched its third crackdown in three years on China's semiconductor industry, curbing exports to 140 companies including chip equipment maker Naura Technology Group, among other moves. The effort to hobble Beijing's chipmaking ambitions also hits Chinese chip toolmakers Piotech and SiCarrier Technology with new export restrictions as part of the package, which also takes aim at shipments of advanced memory chips and more chipmaking tools to China. The move is one of the Biden administration's last large-scale efforts to stymie China's ability to access and produce chips that can help advance artificial intelligence for military applications, or otherwise threaten U.S. national security.

  • Hyundai, Mercedes-Benz, Toyota among 276,000 vehicles recalled: Check car recalls here

    The NHTSA recently announced recalls for 276,487 vehicles. This includes vehicles from Honda, Hyundai. Maserati, Mercedes-Benz, Porsche, and Toyota.

  • New US solar tariffs on Southeast Asia to raise prices, cut profit margins

    A new round of U.S. solar panel import tariffs on Southeast Asian producers is expected to raise consumer prices and cut into producer profit margins, but was largely anticipated by industry, analysts said. The new duties announced on Friday by the Commerce Department extend the United States' anti-dumping regime in Southeast Asia to solar cells, from just finished modules previously.

  • Proposed Australia law would fine Big Tech over digital competition

    Australia proposed a law on Monday that could impose fines of up to A$50 million ($33 million) on global technology companies if they suppress competition and prevent consumers from switching between services. The centre-left Labor government has targeted Big Tech's influence, and parliament passed a law last week that banned social media for children aged under 16. The proposed law would empower Australia's competition regulator to oversee compliance, investigate anti-competitive practices online and fine companies, Assistant Treasurer Stephen Jones said in excerpts of a speech due later on Monday.

  • China's Meituan to expand Keeta food delivery service to more Middle East cities, sources say

    Chinese food delivery giant Meituan, which operates the Keeta brand in Hong Kong and Saudi Arabia, is set to expand to more Middle Eastern and North African countries, according to two sources familiar with the matter. Keeta, which launched in the Saudi Arabian city of Al-Kharj in September and has since entered the capital Riyadh, will be available in Dammam and Jeddah, two other major cities in the Gulf nation, by year end, the two people said. The platform will then go to Mecca and Medina, Is

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    A Roth conversion can help minimize taxes on retirement income, but the timing and amount can be a complex decision.

  • VW's German workers to strike from Monday

    Workers at German factories for carmaker Volkswagen are to go on strike from Monday over plans to cut thousands of jobs, union IG Metall said Sunday. After little progress in several rounds of talks between labour representatives and Volkswagen bosses, workers at VW factories across Germany will begin the first stage of planned strike action.

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