FTSE 100 Live: Stocks Set to Bounce on EU-US Tariff Deal
The pact was done less than a week before the deadline on Friday for the higher tariffs imposed by the US to take effect. Importantly, it includes cars.
US President Donald Trump and European Commission President Ursula von der Leyen announced the deal Sunday at his golf club in Turnberry, Scotland, although they didn't disclose the full details of the pact or release any written materials.
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Entrepreneur
23 minutes ago
- Entrepreneur
Can Nippon Paint Tap Into India's PPF Market
The paint protection films(PPF), launched by Nippon Paints, will be available across India and is expected to be present in more than 100 cities by the end of this year Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The paint protection films(PPF) market in India is a burgeoning industry. The automotive sector accounts for a significant share of the paint protection film market. PPF is highly used to protect vehicles from road debris, scratches, etc and a rapidly expanding automotive industry is expected to boost its demand. With an eye on developing and expanding the market in India, Nippon Paints, under the n-SHIELD brand, has launched its own PPF. "Our films cover all categories in the market, not just the premium. We plan to ultimately manufacture these products in India, in line with our Make in India philosophy, mirroring the government's efforts to bring international manufacturing to India," said Sharad Malhotra, director of Nippon Paint India. PPF is a thermoplastic polyurethane film that can be applied on the painted surfaces of a car to protect the paint from stone chips, reduce abrasions and wear and tear. The PPF market in India is expected to reach a projected revenue of US$ 31.9 million by 2030. From 2023 to 2030, a compound annual growth rate(CAGR) of 7.6 percent is expected in India, according to estimates by Horizon Grand View Research. The company has set up basic concept plants at the moment to manufacture this product in India. The product caters to mass, premium and luxury segments and is priced between INR 65,000 to INR two lakh. Nippon Paint has multiple sites for developing these films. Currently the products being launched in India are sourced from Japan and China. The paint major is actively seeking to develop new partnerships in India for strategic manufacturing of the product. "It's still at a concept stage because this is a new technology. The kind of investments, opportunities we see are still evolving. Conceptually we are aligned that this should be manufactured in India but in terms of plant designs, plant sizes, investment sizes it's still a work in progress. If the product takes off very well, we can start manufacturing in the next two to three years. It depends on the adoption rate," Malhotra added. The current investment is primarily R&D focused. Nippon Paints has been developing the PPF for four years. It started the film business division in Japan way back in 2021. In the middle of COVID as a part of the strategic review in the business, the company decided to enter the film business. India is the largest automotive aftermarket business in Nippon Paint Group and is the second region where the brand promises grand entry with films. First PPF was launched in Thailand. The PPF comes with a five, seven, ten years warranty and is found in gloss, matte and colored ranges. The company is yet to finalize its original equipment manufacturer (OEM) partners. The entire detailing range consists of tyre dressers, dashboard cleaners, fabric cleaners, etc. Nippon Paint is also launching a host of other films including the headlamp film for which it has already received OEM endorsements. "We want to be a one stop solution, the car dealership or the detailing centre doesn't have to look out to multiple vendors. Nippon is there to serve them as a single source. This is a time where actually a player like Nippon Paint can add a lot of value, set standards, establish benchmarks, create ecosystems for the entire industry to benefit," he added. This product will be available across India and is expected to be present in more than 100 cities by the end of this year. Not only cars, these films will be available for two-wheelers, bikes and trains as well. In India right now the market is only two percent to three percent for cars and is expected to reach four percent to five percent in the next couple of years, estimated Malhotra. The paint protection films market is consolidated in nature. Some of the major players globally include 3M, Saint-Gobain, Avery Dennison Corporation, Eastman Chemical Company, XPEL, Inc., among others.
Hamilton Spectator
24 minutes ago
- Hamilton Spectator
The Latest: Trump inaugurates his family's newest luxury golf course in Scotland
U.S. President Donald Trump is playing 18 holes on his new golf course in Scotland before returning to Washington, capping a five-day visit that included hosting British Prime Minister Keir Starmer and mixing critical discussions on the deepening food crisis in Gaza, Russia's war in Ukraine and tariff rates with boasts about the property's opulence. As for famine in Gaza, Trump said Israel 'has a lot of responsibility' for what's happening and says he'd tell Prime Minister Benjamin Netanyahu that he wants 'them to make sure they get the food.' On Russia, he threatened what he called 'severe tariffs' if there's no peace deal with Ukraine and wants to see progress in 10-12 days . And the EU trade deal staves off for now the far higher import taxes that might have shocked economies around the globe. Israel rejects claims of 'starvation policies' Israeli foreign minister Gideon Saar on Tuesday said claims that his government is deliberately subjecting Palestinians in Gaza to starvation is a 'distorted campaign of international pressure.' 'This pressure is directly sabotaging the chances for a ceasefire and hostage deal, it is only pushing towards military escalation by hardening Hamas's stance,' he said. The U.S. and Israel have both recalled their negotiating teams over the past week as negotiations seem to have stalled. Hamas-led militants killed some 1,200 people, mostly civilians, in the attack that sparked the war, and abducted another 251. They are still holding 50 captives , around 20 believed to be alive, after most of the rest were released in ceasefires or other deals. Over 60,000 Palestinians have been killed in Israel-Hamas war, Gaza's Health Ministry says The ministry of the Hamas-run government also said Tuesday that another 145,870 people have been wounded since Hamas' Oct. 7, 2023, attack on Israel. It did not say how many were civilians or militants, but has said women and children make up around half the dead. The ministry is staffed by medical professionals. The United Nations and other independent experts view its figures as the most reliable count of casualties. Israel's offensive has destroyed vast areas of Gaza, displaced around 90% of the population and caused to a catastrophic humanitarian crisis , with experts warning of a 'worst-case scenario of famine.' Israel's continued air strikes killed at least 77 Palestinians in the past day, according to local hospitals. ▶ Read more on death and famine in Gaza Most Americans now disapprove of Israel's military action in Gaza, Gallup poll shows Support for Israel's military action in Gaza has declined substantially among U.S. adults. Only a third now approve, according to a new Gallup poll — down sharply from the beginning of the war with Hamas when about half of Americans approved. Republicans remain largely supportive, but the poll shows about half of U.S. adults now have an unfavorable view of Israel's prime minister, Benjamin Netanyahu , his most negative rating since he was first included in Gallup polling in 1997. The poll was conducted from July 7-21, while reports of starvation in Gaza led to international criticism of Israel's decision to restrict food aid but before President Donald Trump expressed concern over the worsening humanitarian situation . ▶ Read more about the Gallup poll on US views on Gaza Democrats press Trump officials for 'large-scale' effort on Gaza starvation Senate Democrats are imploring the Trump administration to address the suffering and starvation in Gaza. More than three dozen senators signed a letter Tuesday urging the resumption of ceasefire talks and sharply criticizing an Israeli-backed American organization created to distribute food. Their letter to Secretary of State Marco Rubio and Trump's special envoy Steve Witkoff says the Gaza Humanitarian Foundation created with backing from the Trump administration has 'failed to address the deepening humanitarian crisis and contributed to an unacceptable and mounting civilian death toll around the organization's sites.' Trump on Monday expressed concern about the worsening humanitarian situation and broke with Israeli Prime Minister Benjamin Netanyahu's claim that people are not starving in the Gaza Strip. But it is unclear how Trump will proceed. ▶ Read more on Democratic pressure on Trump to address Gaza hunger crisis EU-US tariff deal unsettles champagne producer A French champagne maker warned Tuesday that a newly announced 15% U.S.-EU tariff on wine and spirits could disrupt exports and unsettle importers. 'This implementation of the 15% tariff is obviously problematic for me,' said Antoine Chevalier, owner of the Antoine Chevalier Champagne house. 'It affects the final price of Champagne. It impacts my importers, who will obviously have to pay more, and that creates uncertainty about future sales. For now, we find this rate extremely high.' Chevalier said the U.S. accounts for 25% of his business and that many orders have been paused. He called the measure 'a burden' and added: 'Yes, I would have liked for there to be better, or at least fairer, negotiations.' Champagne is protected under French AOC rules, meaning it must be produced in the Champagne region. That makes producers more vulnerable to tariffs than other sectors. Chevalier said he doesn't believe Americans or Donald Trump 'really want to deprive themselves of our French gastronomy products.' If needed, he said, he would pivot to markets in Europe, Japan or South Korea. Trump tees off on the first hole 'He likes the course, ladies and gentlemen,' Eric Trump said after his father teed off. Trump is playing with Eric Trump and former champion golfers Rich Beam and Paul McGinley. Trump was asked by a member of the media about the next steps for Israeli Prime Minister Benjamin Netanyahu, a question that elicited groans from some in the crowd. Trump said, 'We're going to try and get things straightened out for the world.' Trump cuts the ribbon on his new course Wielding a pair of golden scissors and flanked by his two oldest sons, Trump has cut the red ribbon at his newest golf course at its official opening. Trump disagrees with Israeli leader's claim that there's 'no starvation in Gaza' The president, when asked Monday if he agreed with Israeli Prime Minister Benjamin Netanyahu's remarks about hunger in Gaza, said, 'I don't know. I mean, based on television, I would say not particularly because those children look very hungry.' Netanyahu on Sunday said, 'There is no policy of starvation in Gaza and there is no starvation in Gaza.' Starmer, standing next to Trump, said, 'We've got to get that ceasefire,' in Gaza and called it 'a desperate situation.' Trump will play 18 holes before leaving Scotland Trump says ahead of the ribbon-cutting that he will play a round of golf 'quickly' at his new course before heading back to D.C. Trump says he has 'fires' to put out all over the world, talking about various wars that are still raging. He also noted the recent trade deal he had signed with the European Union. Eric Trump praises the new course Eric Trump is kicking off the ribbon-cutting by talking about how 'remarkable' he thinks the course is. 'I think he's going to be incredibly proud of this amazing masterpiece,' Eric Trump said. Trump's newest golf course is a 'passion project,' son Eric says Eric Trump says the newest golf course started as a passion project for President Donald Trump. He says his father had one goal, which was to 'build the greatest 18 holes anywhere in the world.' He says Trump put 'every ounce of his heart and his soul and his effort' in finding the land and building the course. And, Eric Trump noted, his father went on to do 'larger things, and that's saved the free world.' A fact sheet provided to the media says Eric Trump designed the course. US-EU trade deal wards off further escalation but will raise costs for companies and consumers President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal that imposes 15% tariffs on most European goods, warding off Trump's threat of a 30% rate if no deal had been reached by Aug. 1. The tariffs, or import taxes, paid when Americans buy European products could raise prices for U.S. consumers and dent profits for European companies and their partners who bring goods into the country. ▶ Read more about the trade deal between the United States and the European Union . Trump is seeking quick Murdoch deposition in Wall Street Journal lawsuit over Epstein story Trump is asking a federal court in Florida to force Rupert Murdoch to give a deposition for the president's lawsuit against The Wall Street Journal within 15 days, citing the media mogul's age and physical condition. Trump sued the Journal, owned by Murdoch, in U.S. District Court in southern Florida on July 18 for its story reporting on the Republican president's ties to Jeffrey Epstein , the financier and alleged child sex trafficker who died in a New York jail in 2019 before trial. The president's motion to the court on Monday noted Murdoch is 94 years old, is believed to have suffered several health scares in recent years and is presumed to live in New York. ▶ Read more about the Wall Street Journal lawsuit Trump says he ended friendship with Epstein because he 'stole people that worked for me' Trump said Monday that he ended his friendship with Jeffrey Epstein and threw the now-disgraced financier out of his private club in Florida after Epstein betrayed him more than once by hiring people who had worked for him. 'He hired help and I said, 'Don't ever do that again,'' Trump said at his golf property in Turnberry, Scotland. 'He stole people that worked for me. I said, 'Don't ever do that again.' He did it again, and I threw him out of the place, persona non grata.' Trump did not say what his employees did or where they worked, and the White House declined further comment. But the White House had previously offered a different explanation for the falling-out. Steven Cheung, the White House communications director, said in a statement last week: 'The fact is that the President kicked him out of his club for being a creep.' ▶ Read more about Trump's comments on his connection to Epstein Trump says he's only going to give Russia 10 to 12 more days to reach peace Two weeks ago, the president said he would give Russia and Ukraine just 50 days to make a deal to end the war. Now Trump said he's going to reduce that time to a 'lesser number.' 'I think I already know the answer, what's going to happen,' he said, expressing skepticism that Russian President Vladimir Putin is willing to reach an agreement. Trump repeated his criticism of Putin for talking about ending the war, only to continue bombarding Ukraine. 'And I say, that's not the way to do it,' Trump said. He added that 'I'm disappointed in President Putin.' Scotland's first minister joins those watching Trump Among the people in attendance are Scotland's first minister, former members of Scotland's national soccer team and several of Trump's grandchildren. The White House said Trump met with First Minister John Swinney earlier in the day. About 50 people have filled the sand trap by the tee box to watch Trump, who is wearing a black windbreaker, matching pants and a white cap as he takes practice swings ahead of the ribbon-cutting for his newest golf course. Some are dressed for golf, complete with spiked cleats. A similar group of about 50 is watching from the other side in the tall grass growing on sand dunes flanking the first hole. That's in addition to 200 media and VIPs in the grandstands. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . 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CNBC
25 minutes ago
- CNBC
Commerce Secretary Lutnick: The key to why the EU did the deal is autos and pharmaceuticals
Commerce Secretary Howard Lutnick joins 'Squawk Box' to discuss the state of U.S. trade negotiations, details of the U.S.-EU trade deal, U.S.-China trade talks, and more.
