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European shares mixed on caution ahead of US tariff deadline

European shares mixed on caution ahead of US tariff deadline

LONDON: European shares were mixed on Monday, with investors alert for any trade-related headlines in the countdown to US President Donald Trump's tariff deadline.
The pan-European STOXX 600 index was flat at 541.08 points, as of 0709 GMT.
Other major regional indexes were mixed, with Germany's DAX up 0.4 per cent, France's CAC 40 down 0.1 per cent, Spain's IBEX edging 0.1 per cent higher, and the UK's FTSE 100 slipping 0.2 per cent.
The US is close to finalising several trade agreements in the coming days and will notify other countries of higher tariff rates by July 9, Trump said on Sunday. The new rates are set to take effect from August 1.
Trump also threatened an extra 10 per cent tariff on countries aligning themselves with the "anti-American policies" of the BRICS group of developing nations.
Both the tariff levels and effective dates have become moving targets as Trump, on Friday, added to the confusion by mentioning that some tariffs could reach up to 70 per cent, levels far higher than the 10 per cent-50 per cent range he announced in April.
A White House official said on Friday that US trade talks with the European Union were continuing and there was optimism an agreement could be reached in short order.
European energy stocks fell 1.3 per cent, tracking oil prices. Banks were up 0.6 per cent.
Capgemini fell 2.8 per cent after the French IT services firm agreed to buy technology outsourcing company WNS for a cash payment of $3.3 billion.
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Asean News Headlines at 10pm on Monday (July 7, 2025)
Asean News Headlines at 10pm on Monday (July 7, 2025)

The Star

time2 hours ago

  • The Star

Asean News Headlines at 10pm on Monday (July 7, 2025)

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BRICS nations resist 'anti-American' label after Trump tariff threat
BRICS nations resist 'anti-American' label after Trump tariff threat

New Straits Times

time3 hours ago

  • New Straits Times

BRICS nations resist 'anti-American' label after Trump tariff threat

RIO DE JANEIRO: Developing nations participating in the BRICS summit on Monday brushed away an accusation from US President Donald Trump that the bloc is "anti-American," as he threatened them with additional 10% tariffs. Trump's threat on Sunday night came as the US government prepared to finalize dozens of trade deals with a range of countries before his July 9 deadline for the imposition of significant "retaliatory tariffs." "Tariffs should not be used as a tool for coercion and pressuring," Mao Ning, the Chinese foreign ministry spokesperson said in Beijing. The BRICS advocates for "win-win cooperation," she added, and "does not target any country." South Africa, which was slapped with 30% tariffs that were later suspended pending trade talks, reaffirmed that it is "not anti-American," trade ministry spokesman Kaamil Alli said, adding that talks with the US government "remain constructive and fruitful." A Kremlin spokesman said Russia's cooperation with the BRICS was based on a "common world view" and "will never be directed against third countries." India and Brazil, which is hosting the BRICS gathering, did not immediately provide an official response to Trump. Brazilian President Luiz Inacio Lula da Silva told reporters that he would only comment after wrapping up the summit. His opening remarks to BRICS leaders gathered in Rio de Janeiro on Monday focused on the environmental and public health issues on the summit's official agenda. A Brazilian diplomat who was not authorized to comment officially said Trump's threat underscored the importance of the BRICS group to give developing nations a way to argue for fair and effective global ground rules on topics such as trade. Many BRICS members and many of the group's partner nations are highly dependent on trade with the United States. New member Indonesia's senior economic minister, Airlangga Hartarto, who is in Brazil for the BRICS summit, is scheduled to go to the US on Monday to oversee tariff talks, an official told Reuters. Malaysia, which was attending as a partner country and was slapped with 24% tariffs that were later suspended, said that it maintains independent economic policies and is not focused on ideological alignment. MULTILATERAL DIPLOMACY With forums such as the G7 and G20 groups of major economies hamstrung by divisions and Trump's disruptive "America First" approach, the BRICS group has presented itself as a haven for multilateral diplomacy amid violent conflicts and trade wars. In a joint statement released on Sunday afternoon, leaders at the summit condemned the recent bombing of member nation Iran and warned that the rise in tariffs threatened global trade, continuing its veiled criticism of Trump's tariff policies. Hours later, Trump warned he would punish countries seeking to join the group. The original BRICS group gathered leaders from Brazil, Russia, India and China at its first summit in 2009. The bloc later added South Africa and last year included Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates as members. Saudi Arabia has held off formally accepting an invitation to full membership, but is participating as a partner country. More than 30 nations have expressed interest in participating in the BRICS, either as full members or partners.

Airbus Helicopters signs MoUs with key players in Malaysian aerospace and defence sectors
Airbus Helicopters signs MoUs with key players in Malaysian aerospace and defence sectors

The Sun

time3 hours ago

  • The Sun

Airbus Helicopters signs MoUs with key players in Malaysian aerospace and defence sectors

PETALING JAYA: Airbus Helicopters has signed two memorandums of understanding (MoU) with key players in the Malaysian aerospace and defence sectors – one to foster industrial cooperation in aerospace technologies and another to enhance military helicopter maintenance, repair and overhaul (MRO) capabilities – underscoring their shared commitment to innovation and regional security. The agreements were signed in Paris in the presence of Defence Minister Datuk Seri Mohamed Khaled Nordin, during an official visit to France. Under the first agreement, Airbus Helicopters and the Coalition of Defence Industry Malaysia – CDI (M) – plan to pursue industrial opportunities with the latter's member companies specialising in aerospace and defence development. The MoU marks the first of its kind between Airbus and the Malaysian defence industry, establishing a dedicated framework to drive military helicopter innovations, growth and development in the local defence sector. Under the second agreement, Airbus Helicopters will partner MRO service provider Global Turbine Asia (GTA) to advance in-country helicopter component MRO capabilities. This strategic collaboration aims to strengthen Malaysia's defence ecosystem and accelerate industrial growth in alignment with the nation's plans to acquire new helicopters for its armed forces and related governmental agencies. 'I am looking forward to deepening the collaboration with major European industries, building on the Malaysian aerospace industry's enduring partnerships with leaders like Airbus. We are committed to reinforcing these relationships and exploring new areas of cooperation, ensuring sustained innovation, growth, and long-term value for all stakeholders,' said Global Turbine Asia executive chairman and CDI (M) president Datuk Nonee Ashirin Datuk Mohd Radzi. Airbus Helicopters Asia-Pacific head Vincent Dubrule said, 'These partnerships underscore Airbus' strong commitment to Malaysia's long-term goal of building a resilient, self-reliant defence ecosystem. By deepening local industrial growth and expanding MRO capabilities, we are strengthening the nation's aerospace and defence sectors, supporting technological advancement and enabling greater industrial sovereignty. 'As Malaysia looks to acquire helicopters for key missions like tactical support, combat search-and-rescue, and anti-surface warfare, these partnerships aim to strengthen local expertise, promote technology transfer and build autonomy. Airbus sees CDI (M) and GTA as trusted partners aligned to advance these priorities.'

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