Sydney：12/24 22:26:56

Tokyo：12/24 22:26:56

Hong Kong：12/24 22:26:56

Singapore：12/24 22:26:56

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London：12/24 22:26:56

New York：12/24 22:26:56

2025-07-31 Thursday

2025-08-03

19:18:34

[State Council Executive Meeting: Approved the "Opinions on Deepening the Implementation of the 'Artificial Intelligence Plus' Action Plan"] Li Qiang presided over the State Council Executive Meeting, which reviewed and approved the "Opinions on Deepening the Implementation of the 'Artificial Intelligence Plus' Action Plan." The meeting reviewed and approved the "Opinions on Deepening the Implementation of the 'Artificial Intelligence Plus' Action Plan." The meeting pointed out the need to thoroughly implement the "Artificial Intelligence Plus" action plan, vigorously promote the large-scale commercial application of artificial intelligence, and promote the accelerated popularization and deep integration of artificial intelligence in all areas of economic and social development, forming a virtuous cycle in which innovation drives application and application promotes innovation. Government departments and state-owned enterprises should strengthen demonstration and leadership, and support the implementation of technologies through open scenarios. It is necessary to optimize the artificial intelligence innovation ecosystem, strengthen the supply of computing power, algorithms, and data, increase policy support, strengthen the development of a talent pool, and build an open source and open system to provide strong support for the development and growth of the industry. It is necessary to enhance security capabilities and accelerate the formation of a dynamic, agile, and multi-faceted collaborative artificial intelligence governance framework.

19:18:10

[Turkish Central Bank's First Statement After Rate Cut: July Inflation May See a Temporary Spike, But Core Trend Remains Positive?] ⑴ The minutes of the Turkish Central Bank's Monetary Policy Committee meeting, released Thursday, indicated that leading indicators suggest a possible temporary increase in monthly inflation in July. ⑵ This increase was primarily attributed to the influence of month-specific factors. ⑶ However, the Turkish Central Bank also emphasized that, despite short-term fluctuations, the underlying inflation process is ongoing and the downward trend in inflation is strengthening. ⑷ The central bank reiterated that it will determine the policy interest rate based on realized and expected inflation data and their underlying trends. ⑸ The minutes noted that July's monthly consumer inflation was influenced by administered prices, tax adjustments, and developments in the services sector. ⑹ The minutes, released following the Turkish Central Bank's 300 basis point rate cut last week, demonstrate the central bank's steadfastness in its accommodative policy path. ⑺ The central bank stated that recent data suggest that the disinflationary effect of demand conditions has strengthened. ⑻ Although high-frequency data show that imports of consumer goods, excluding jewelry, remain high, they declined month-on-month in July. ⑼ Overall, the Central Bank of Türkiye believes that even though inflation rose briefly in July, the overall disinflation process has not changed, and it will continue to strive to ensure that the degree of monetary policy tightening is in line with the expected downward inflation path in the future.

18:53:08

[Gas Giant Profit Warning: Weak Helium Demand and Downturn in US Manufacturing Affect Double Hits] ⑴ Air Products lowered its fourth-quarter profit forecast on Thursday and narrowed its full-year profit target. ⑵ This was primarily due to weak helium demand, project withdrawals, and the lingering impact of the previous sale of its liquefied natural gas (LNG) business, which dragged down sales. ⑶ The continued slump in US manufacturing in June weakened business and consumer confidence, directly impacting demand for Air Products' gases and related services. ⑷ The chemical industry is struggling with inventory destocking and facing weak demand in key markets such as China and Europe. ⑸ Air Products expects fourth-quarter adjusted earnings per share of $3.27 to $3.47, below the average analyst estimate of $3.48. ⑹ The company now expects adjusted earnings per share of $11.90 to $12.10 for fiscal 2025, compared to the previous forecast of $11.85 to $12.15. ⑺ In the third quarter, although the sale of subsidiaries and other assets brought in $99 million in gains, this was offset by $25 million in shareholder activism-related expenses and $24 million in project shutdown cost correction charges. ⑻ During the company's reporting period, strong performance in the European and Asian markets was offset by profit pressure and sales declines in the Americas market, the latter mainly affected by weak helium demand and project exits. ⑼ Operating income in the Americas region fell 4% to $374 million, and the profit margin fell 200 basis points to 29.7%, mainly due to increased maintenance-related depreciation and previously announced project shutdowns. ⑽ Production in the region fell 6%, reflecting reduced production activity and poor helium sales. ⑾ The company reported adjusted profits of $3.09 per share in the April-June period, higher than analysts' expectations of $2.99.

18:19:04

Is the Asian Diesel Market Turning Around? Window Trading Recovers, But Refining Margins Remain Under Pressure. ⑴ The Asian middle distillate market was active during the trading window, with multiple transactions occurring in the first trading session of the week. ⑵ While market structure, spot spreads, and refinery spot sales activity remained largely unchanged, market sentiment has improved. ⑶ Some diesel cargoes remain under discussion at slight discounts for late August loading. ⑷ Refining margins for 10ppm sulfur diesel fell for the third consecutive trading day, closing at approximately $18.6 per barrel. ⑸ The trading window was primarily focused on 500ppm sulfur diesel, but a small 10ppm sulfur diesel transaction slightly dragged down cash premiums, currently assessed at $1.56 per barrel. ⑹ Regarding jet fuel, traders report that July exports from China, South Korea, and Southeast Asia may approach a five-year high, but analysts anticipate a slightly volatile trend in August. ⑺ Despite strong demand, jet fuel shipments from Northeast Asia to the US West Coast have remained low since July, with Kpler vessel tracking data indicating only approximately 150,000 tons shipped to the region in the second half of the month. ⑻ The crack spread widened slightly again, to a discount of approximately $2.65 per barrel. ⑼ Data from the US Energy Information Administration showed that US crude oil inventories rose sharply last week, while gasoline and distillate inventories fell. ⑽ Official data showed that Singapore's middle distillate inventories rebounded to over 8 million barrels from the previous week's level, driven by a decline in net exports on a weekly basis. ⑾ The US Treasury imposed new sanctions on Iranian-linked entities and individuals, while Chevron received a limited license to operate in Venezuela. ⑿ US jet fuel demand rose by 411,000 barrels per day in the week ending July 25, reaching nearly 2.1 million barrels per day, the highest level since December 2017.

18:12:03

The Eurozone Inflation Conundrum: "Benign" Data Suggests Target Achievement, But Will the Future Really Be Calm? ⑴ Inflation data for major eurozone economies this month met or slightly exceeded expectations, indicating that price growth across the currency area remains close to the ECB's 2% target. ⑵ After years of exceeding the target, eurozone inflation retreated to 2% this summer, and the ECB currently expects it to remain near that level. ⑶ Official data showed that Italy's inflation rate fell to 1.7% in July from 1.8% in June, slightly above the expected 1.6%. ⑷ France's inflation rate remained unchanged at 0.9% in July, above the expected 0.8%. ⑸ Combined with the expected rise in Spanish inflation from 2.3% to 2.7%, this suggests that there may be modest upside risks to Friday's eurozone headline inflation data, which economists generally expect to be 1.9%. ⑹ Nevertheless, the ECB is unlikely to be concerned by this minor deviation, having previously stated that inflation is contained and that it is in no rush to adjust interest rates again after halving them to 2% in June. ⑺ The ECB also hopes to wait until it has a clearer understanding of how global trade conflicts will affect prices before taking action. ⑻ Trump's tariff rhetoric is expected to suppress prices in the short term, but major adjustments in corporate value chains may push up price pressures in the future. ⑼ The ECB currently expects inflation to fall below 2% in the coming months and to remain below target for 18 months before price growth returns to 2% in 2027. ⑽ This mild inflation outlook and relatively resilient growth are the reasons why financial investors believe that the ECB is close to completing its rate-cutting cycle. ⑾ The market sees less than a 50% chance of another rate cut this year and has begun to digest the possibility of a rate hike before the end of 2026. ⑿ Eurozone inflation data due on Friday will also be affected by German data, but data from German states showed little change from last month.

18:04:35

Italy's PPI year-on-year rate in June

Previous : 1.70% Forecast : -

Published Value 2.50%

Previous

18:04:34

Italy's PPI monthly rate for June

Previous : -0.70% Forecast : -

Published Value 1.50%

Previous

18:01:25

[Federal Reserve's September rate cut dream dashed? Market bets shift dramatically!] ⑴ The Federal Reserve avoided signaling an imminent rate cut, forcing investors to significantly lower their expectations for a rate cut at the next policy meeting. ⑵ The Federal Open Market Committee held interest rates steady in a split vote on Wednesday, offering few indications of when borrowing costs might be lowered. ⑶ The Fed's benchmark overnight policy rate remained in a range of 4.25%-4.50%, unchanged since December. ⑷ Treasury yields and the US dollar rose in late trading, while stocks fell, as the Fed gave no clear indication of a possible rate cut at its September meeting. ⑸ Carson Group Global Macro Strategist Sonu Varghese believes the Fed has postponed the possibility of a rate cut, pending further data. ⑹ According to data from the CME FedWatch tool, traders' bets on a September rate cut have fallen to 46% from approximately 65% a day earlier. ⑺ The market no longer anticipates two full 25 basis point rate cuts this year. ⑻ Federal Reserve Chairman Powell stated at a press conference that no decision had been made regarding the September meeting, emphasizing that there was still time to collect extensive data before the next meeting. ⑼ Bond yields climbed on Wednesday, with both 10-year and 2-year Treasury yields rising by approximately 2 basis points after Powell reiterated that the economy remained resilient. ⑽ The Russell 2000 small-cap index fell 0.47%, while the large-cap S&P 500 fell 0.12%. ⑾ The US dollar index rose 1% to a two-month high, narrowing its year-to-date losses to 8%. ⑿ Vishal Khanduja of Morgan Stanley Investment Management expects three to five interest rate cuts by the end of next year, but emphasized that the next two inflation data releases will be crucial.

17:55:25

[UK Stock Market Rebounds: Rolls-Royce Led the Way: Can the Earnings Rush Withstand the Impact of Tariffs?] ⑴ London's main stock indices rose on Thursday, with the FTSE 100 up 0.2% and the FTSE 250 up 0.9%. ⑵ Rolls-Royce shares surged to a record high, up 9.2%, after the company raised its full-year operating profit and free cash flow forecasts, driving the aerospace and defense index up 5.7%. ⑶ Shell's second-quarter net profit exceeded expectations, sending its share price up 1.9%. ⑷ Canada's Brookfield will acquire the UK's Just Group for $3.2 billion, sending the latter's share price soaring 67.8%, topping the FTSE 250. ⑸ Investors are assessing a series of new tariff announcements from Trump ahead of the August 1 tariff deadline, including new tariffs on copper, Brazilian, South Korean, and Indian goods, and the removal of exemptions for small overseas shipments. ⑹ Industrial mining stocks led the decline, down 4.3%, driven by falling copper prices. Shares of companies such as Glencore, Anglo American, Antofagasta, and Rio Tinto all fell. ⑺ Elsewhere, Rentokil's share price rose 9.6%, and St James's Place's rose 7% after its net inflows doubled in the first half of the year and it initiated a share buyback. ⑻ Conversely, Mondi's share price fell 5.8% after its pre-tax profit fell nearly 17% in the first half of the year. ⑼ London Stock Exchange Group's share price fell 3.7%, despite better-than-expected first-half profits and the announcement of a second-half share buyback plan. ⑽ The market generally expects the Bank of England to cut interest rates next week (August 7), its fifth since last August.

17:53:30

[Global Markets Shrouded in Mist: Earnings Frenzy and the Complex Game of Tariffs] ⑴ Global stock markets saw mixed gains and losses on Thursday, as the market weighed a range of economic indicators, including central bank interest rate decisions, inflation data, and trade deal negotiations ahead of Trump's August 1 tariff deadline. ⑵ The Bank of Japan held interest rates steady and raised its inflation forecast, lending cautious optimism to Japan's economic outlook. The Nikkei index closed up over 1%. ⑶ US stock futures surged, with Nasdaq futures up 1.4% and S&P 500 futures up over 1%, primarily driven by strong earnings reports from Microsoft and Meta Platforms that exceeded expectations. ⑷ AJ Bell investment analyst Dan Coatsworth stated that the earnings reports from Meta and Microsoft exceeded expectations, leaving investors ecstatic. ⑸ European stocks were also supported by positive earnings reports. The pan-European Stoxx 600 index was essentially flat, but is expected to rise 1.6% this month, benefiting from easing trade concerns, better-than-expected economic data from the US and Europe, and generally upbeat earnings reports. ⑹ European bank stocks rose more than 1.5%, thanks to positive results from Standard Chartered and Societe Generale. ⑺ Asian investors are also digesting the impact of the US-South Korea trade agreement and Trump's remarks on tariffs on India. ⑻ The South Korean won rose 0.3% after Trump announced that he would impose a 15% tariff on South Korean imports. ⑼ The Federal Reserve kept interest rates unchanged for the fifth consecutive time on Wednesday. Comments from Fed Chairman Powell weakened market confidence in a September rate cut, and the US dollar index hovered near a two-month high. ⑽ Copper futures fell 19.4% as Trump announced a 50% tariff on copper pipes and wires, but did not implement comprehensive restrictions as expected. ⑾ Brent crude oil futures and US WTI crude oil futures both fell slightly, partly due to traders closing positions before contract expiration and reports that the European Union may cancel proposed tariffs on crude palm kernel oil and vegetable oils.

17:45:57

Meta's Earnings Surpass Expectations: Is AI-Driven Advertising the Secret to Its Stock Price Soar? ⑴ Meta Platforms' earnings report released Wednesday indicated that its third-quarter revenue will significantly exceed analyst expectations. ⑵ This is primarily due to the strong boost from AI technology to its core advertising business. ⑶ In response to this positive news, Meta's stock price surged approximately 12% in pre-market trading, reaching $778.28. ⑷ This performance indicates the market's optimism about Meta's future growth prospects. ⑸ Brokerage firms are generally optimistic about Meta's AI development story, believing it is shifting from controversial to positive. ⑹ Canaccord Genuity rated Meta a "Buy" with a target price of $900, emphasizing that AI is a key driver of engagement, monetization, efficiency, and long-term growth. ⑺ Jefferies also gave it a "Buy" rating with a target price of $950, believing that Meta is well-positioned to capitalize on improving advertiser demand and the momentum of AI development. ⑻ TD Cowen set a target price of $875, noting that Meta is not overly concerned with the macroeconomic background, but rather highlights the strength of its digital advertising business and the strong spending resilience of American consumers. ⑼ Pivotal Research believes that after AI technology has driven significant revenue growth for the company, accelerating investment in AI is reasonable and necessary, with a target price of $930. ⑽ Scotiabank holds a "sector perform" rating with a target price of $685. While recognizing the strong revenue growth in the second quarter, it emphasizes that Meta needs to quickly increase spending to drive growth in the coming quarters.

17:45:09

Emerging Market Currency Markets Under Pressure: Tariffs Cast a Shadow, and South Africa's Rate Cut Uncertain! ⑴ Most emerging market currencies and stocks fell on Thursday as the market digested further rhetoric regarding US tariffs, while also focusing on US economic data and central bank decisions. ⑵ Market sentiment was significantly impacted by Trump's tariff rhetoric as the August 1 tariff deadline approached. ⑶ The US reached bilateral trade agreements with South Korea and Pakistan late Wednesday, imposing a 15% tariff on South Korea, lower than the previously threatened 25%, prompting a slight appreciation of the Korean won by 0.2%. ⑷ Trump also exempted some Brazilian goods from tariffs, but eliminated exemptions for small imports. ⑸ Federal Reserve Chairman Powell kept interest rates unchanged at Wednesday's meeting, dampening market expectations for a September rate cut. The US dollar index remained flat, giving up earlier gains. ⑹ The market's index tracking emerging market currencies fell 0.3%, and is on track to post a monthly decline due to tariff uncertainty and the US-EU trade agreement supporting the dollar. ⑺ The South African rand fell 0.4%, with the market generally expecting the South African Reserve Bank to cut interest rates by 25 basis points. ⑻ Economists at Societe Generale said this may be the last rate cut by the South African Reserve Bank in the near future, aimed at maintaining a high real interest rate buffer to achieve a lower inflation target. ⑼ The market is closely watching key US inflation data for clues about the effect of tariffs on prices. ⑽ Investors are closely watching any progress in trade negotiations between the United States and its trading partners, hoping for further concessions that would indicate a softening of the US tariff stance, thereby helping emerging markets continue to rise.

17:38:03

[Major Changes to Crypto ETF Listing Regulations: Could the CBOE Proposal Disrupt the Industry?] ⑴ The Chicago Board Options Exchange (CBOE) submitted a new proposal on July 31st (Beijing time) aimed at streamlining the listing process for cryptocurrency ETFs. ⑵ The proposal suggests that cryptocurrency ETFs that meet certain standardized requirements could bypass case-by-case approval by the U.S. Securities and Exchange Commission (SEC) and automatically list. ⑶ The core of the proposal is that if a crypto asset has been traded in futures trading on a regulated market for at least six months, the relevant ETF will be eligible for listing. ⑷ This move is expected to significantly shorten the approval cycle for crypto ETFs and accelerate their entry into mainstream financial markets. ⑸ In addition, the proposal sets clear requirements for collateralized ETFs, requiring them to develop detailed liquidity risk management plans when more than 15% of the ETF's assets cannot be immediately redeemed. ⑹ This regulation aims to mitigate potential market liquidity risks and ensure the safety of investor assets. ⑺ If approved by the SEC, this CBOE proposal will have a profound impact on the cryptocurrency ETF market and may attract more institutional investors to the sector. ⑻ This not only reflects the growing recognition of crypto assets by traditional financial institutions, but also indicates that the regulatory framework of the crypto market is gradually maturing and improving.

17:37:25

[Global Central Banks Sudden Shift: Is the Wave of Rate Cuts Slowing? Is the Shadow of the Trade War Resurfacing?] ⑴ The pace of rate cuts by major central banks worldwide is significantly slowing, with market focus shifting to tariffs and political factors. ⑵ The European Central Bank is nearing the end of its easing cycle, while the US Federal Reserve remains highly vigilant about the potential for inflation triggered by tariffs. ⑶ The Federal Reserve held interest rates steady on Wednesday and delivered hawkish rhetoric, boosting the US dollar and easing concerns about external pressure on central bank independence. ⑷ The Swiss National Bank kept its benchmark interest rate unchanged at 0% in June, reducing market bets on negative interest rates. Traders widely expect another pause in September and speculate that the SNB has begun intervening to weaken the Swiss franc. ⑸ The Bank of Canada held its key policy rate at 2.75% for the third consecutive time on Wednesday, citing a reduced risk of escalating global trade wars. However, it declined to provide detailed economic forecasts, citing uncertainty regarding US trade policy. ⑹ The Swedish Central Bank cut its key interest rate to 2% last month and indicated it could ease policy again this year if inflation remains contained and growth remains weak. ⑺ The Reserve Bank of Australia unexpectedly kept interest rates unchanged at 3.85% earlier this month, but data showing the slowest growth in consumer prices in more than four years in the June quarter has markets virtually certain the RBA will cut rates by 25 basis points next month. ⑻ Norway's central bank cut interest rates by 25 basis points to 4.25% last month, its first rate cut since 2020, but only one rate cut is expected in 2025. ⑼ The Bank of Japan kept interest rates unchanged at 0.5% on Thursday, but raised its inflation forecast and offered a more optimistic economic outlook than three months ago, boosting market confidence that the BOJ will resume rate hikes this year. ⑽ Overall, global monetary policy is shifting from a generally accommodative stance to a more cautious one, and central banks face complex challenges balancing inflation, economic growth, and external risks.

17:30:12

South Africa's PPI monthly rate for June

Previous : -0.30% Forecast : 0.20%

Neutral

Published Value 0.20%

Previous

17:30:12

Drax bucks the trend amid declining profits: Increased buybacks: Can biomass save the day? (1) British energy company Drax announced an 11% year-on-year decline in adjusted core profit for the first half of the year. (2) The profit decline was primarily due to lower UK wholesale electricity prices, but the company also announced an extension of its share buyback program and increased wood pellet production. (3) Drax's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) fell to £460 million (approximately $611 million) from £515 million in the same period last year. (4) Despite the profit decline, Drax expects full-year adjusted EBITDA to remain between £899 million and £910 million. (5) UK wholesale electricity prices, which rose sharply following the Russia-Ukraine conflict, have fallen back over the past few years. (6) Drax plans to increase its £300 million share buyback program by an additional £450 million over three years. (7) The news sent Drax's share price up 4.5% to 708.50 pence. ⑻ In terms of wood pellet production, Drax's production increased by 5% in the first half of the year to 2.1 million tons, up from 2 million tons in the same period last year. ⑼ Adjusted EBITDA from wood pellet production was £74 million, up from £65 million in the first half of 2024. ⑽ Earlier this year, the UK government extended its biomass power generation subsidies (Contracts for Difference), which were originally scheduled to expire in 2027, to 2031. ⑾ Drax expects to sign final subsidy agreements with the UK government for its four biomass power generation units later in 2025. ⑿ Under the plan, Drax's power plant in North Yorkshire will be able to increase power generation during periods of power shortage, reducing its reliance on natural gas and European imports, and reduce power generation during periods of oversupply.

17:30:10

South Africa's PPI year-on-year rate in June

Previous : 0.10% Forecast : 0.60%

Neutral

Published Value 0.60%

Previous

17:28:23

The preliminary reading of Italy's unadjusted CPI for July

Previous : 122.70 Forecast : -

Published Value 123.20

Previous

17:28:16

Preliminary value of the year-on-year rate of fixed capital expenditure in Hong Kong, China for the second quarter

Previous : 2.80% Forecast : -

Published Value 2.90%

Previous

17:28:15

Preliminary annual rate of private consumption expenditure in Hong Kong, China for the second quarter

Previous : -1.20% Forecast : -

Published Value 1.90%

Previous

17:28:15

Preliminary estimate of the year-on-year rate of Hong Kong's goods exports in the second quarter

Previous : 8.70% Forecast : -

Published Value 11.50%

Previous

17:28:11

Preliminary value of the year-on-year rate of goods imports in Hong Kong, China in the second quarter

Previous : 7.40% Forecast : -

Published Value 12.70%

Previous

17:28:11

Preliminary estimate of the year-on-year rate of service imports in Hong Kong, China in the second quarter

Previous : 6.20% Forecast : -

Published Value 7%

Previous

17:28:09

Preliminary reading of the year-on-year rate of government consumption expenditure in Hong Kong, China for the second quarter

Previous : 1.20% Forecast : -

Published Value 2.50%

Previous

17:28:09

Preliminary estimate of the year-on-year rate of Hong Kong's service exports in the second quarter

Previous : 6.60% Forecast : -

Published Value 7.50%

Previous

17:26:55

The preliminary reading of Italy's unadjusted CPI for July

Previous : 122.70 Forecast : -

Published Value 123.20

Previous

17:20:02

[Ukraine's Grain Production Crisis: Adding Another Uncertainty to the Global Food Market?] ⑴ The vice chairman of Ukraine's largest agricultural union stated that due to severe weather, Ukraine's grain production in 2025 is expected to fall from approximately 55 million tons in 2024 to 51-52 million tons. ⑵ Wheat production is expected to be 21 million tons, down from 22 million tons in 2024. ⑶ The main reason for the production decline is drought in southern and eastern Ukraine. ⑷ Despite locust infestations in southern Ukraine, their significant impact on the overall harvest is expected to be limited. ⑸ Officials and farmers noted that locusts primarily threaten sunflowers and other crops, and traditional pest control methods are hampered by the Russia-Ukraine conflict. ⑹ Farmers in the Zaporizhia region report that locusts have destroyed up to one-third of their sunflower crops. ⑺ The vice chairman of the union stated on national television that six regions are still severely affected by the insects. ⑻ He emphasized that while the locusts can cause economic losses to individual farms, the impact on the overall harvest is minimal. ⑼ Data from the Ukrainian Ministry of Economy indicates that as of July 24, farmers had harvested 10.3 million tons of grain, including 7 million tons of wheat. ⑽ Furthermore, heavy rainfall in western, northern, and central Ukraine has significantly slowed harvest progress, leading to slower exports and potentially impacting this year's rapeseed production. ⑾ This reduced production could cause Ukraine's grain exports to fall to between 38 million and 39 million tons in the 2025/26 marketing year (July to June), down from 40.6 million tons in the 2024/25 marketing year.

17:19:09

Tesla's Ride-hailing Service Quietly Launches: The Mystery of the "Unmanned" San Francisco Model? ⑴ Tesla CEO Elon Musk announced on July 31st (Beijing time) that the company has officially launched its ride-hailing service in the San Francisco Bay Area. ⑵ However, the announcement did not explicitly mention whether the service would utilize the highly anticipated self-driving cars. ⑶ The launch of this service highlights the regulatory challenges Tesla faces in its transition to autonomous driving amidst cooling demand for electric vehicles. ⑷ In California, in particular, strict regulations could delay Musk's goal of deploying robotaxis in half of the country by the end of the year. ⑸ Last week, the California Public Utilities Commission (CPUC) clarified that Tesla currently does not have the authority to "test or transport the public" on public roads with or without a driver. ⑹ Musk posted on social media: "Besides Austin, you can now ride in a Tesla in the San Francisco Bay Area." ⑺ Tesla is reportedly currently only licensed by the California Department of Motor Vehicles to test autonomous vehicles with safety drivers on public roads. ⑻ Tesla has not yet obtained the necessary permits to operate robotaxis and charge fares. ⑼ This limitation means that Tesla can only rely on a human-driven service model in the San Francisco Bay Area. ⑽ This is in stark contrast to the company's more advanced autonomous driving pilot program in Austin, where safety monitors can supervise self-driving Model Y vehicles without active driving intervention. ⑾ Tesla has not yet responded to Reuters' inquiries about the service details.

17:18:46

[Crude Oil Weathervane: Singapore Inventory Movements Reveal Market Truth!] ⑴ Singapore's middle distillate inventory data shows that total inventories rebounded to over 8 million barrels as of the week ending July 30. ⑵ Specific data shows that diesel/gas oil and jet fuel/kerosene inventories increased by approximately 600,000 barrels from the previous week, reaching a total of 8.458 million barrels. ⑶ This inventory rebound was primarily due to a week-over-week decline in net exports. ⑷ Net exports of gas oil and diesel fell 24% month-over-week. ⑸ Meanwhile, net exports of jet fuel and kerosene also plummeted by 37%. ⑹ Notably, total imports of gas oil and diesel surged more than fivefold from the previous week, with imports from South Korea and the United Arab Emirates being the most significant. ⑺ LSEG ship tracking data indicates that an additional 286,000 tons of oil products from South Korea and other countries are expected to arrive in Singapore in the coming week. ⑻ Despite this, the "swing barrels" from India and the Middle East, intended for shipment to Singapore next month, have not yet appeared. ⑼ Total diesel and gas oil exports fell 5% week-over-week, primarily to Australia and Indonesia. ⑽ For jet fuel and kerosene, imports from China were recorded for the first time in nearly a month. ⑾ Total jet fuel exports fell 35% week-over-week, despite some shipments to Mexico. ⑿ Trade sources revealed that this week's exports to the United States may have been sustainable aviation fuel, with approximately 33,000 tons of "green" jet fuel loaded in Singapore for the U.S. West Coast market.

17:15:25

[AI Giants Disagree: Tech Game under EU Guidelines] ⑴ Elon Musk's xAI announced on July 31st (Beijing time) that it would sign the safety and security section of the EU Code of Practice on Artificial Intelligence. ⑵ This move aims to help xAI comply with the EU's landmark AI rules and demonstrate its commitment to AI safety. ⑶ The EU guidelines were drafted by 13 independent experts, and signing is voluntary. ⑷ Notably, companies that refuse to sign will lose the legal certainty afforded to signatories, potentially posing compliance risks. ⑸ The EU guidelines are divided into three major sections: transparency, copyright, and safety and security. ⑹ The transparency and copyright guidelines apply to all general AI providers. ⑺ The safety and security section specifically sets out requirements for providers of the most advanced models. ⑻ xAI stated in a post on the X platform that while some provisions of the AI Law and Code can help improve AI safety, other requirements may negatively impact innovation, and the copyright provisions are also controversial. ⑼ xAI has not yet responded to inquiries about whether it will sign the remaining two chapters. ⑽ Industry giants have different attitudes. Alphabet's Google has clearly stated that it will sign the code. ⑾ Microsoft President Brad Smith has also hinted that his company is likely to sign. ⑿ However, Facebook's parent company Meta has explicitly stated that it will not sign, citing the numerous legal uncertainties it creates for model developers and that its measures go beyond the scope of the AI Law.

17:12:21

The preliminary reading of Italy's unadjusted CPI for July

Previous : 122.70 Forecast : -

Published Value 123.20

Previous

17:00:35

Preliminary reading of Italy's CPI monthly rate for July

Previous : 0.20% Forecast : 0.10%

Published Value 0.40%

Previous

17:00:34

Preliminary reading of Italy's harmonized CPI annual rate for July

Previous : 1.80% Forecast : 1.60%

Published Value 1.70%

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