European Auto Sector Gains on New U.S. Trade Pact
The agreement will see a 15% tariff applied to EU goods entering the U.S., easing pressure on the sector that President Trump had targeted with a 25% duty since early April.
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New York Times
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- New York Times
OPEC Plus Will Increase Oil Output
Eight countries that belong to the oil cartel known as OPEC Plus said Sunday that they would boost oil production by 547,000 barrels a day beginning in September, the latest in a series of monthly increases that began in April. The move, in effect, reverses a program of 2.2 million barrels a day in output cuts that was put in place in 2023 to tighten supply and prop up the markets. The announcement from OPEC Plus was expected and so may have little impact on prices. 'We expect a limited negative market reaction,' analysts at the investment bank Jefferies said in a note to clients after the announcement. After years of pursuing production restraints, the group, led by Saudi Arabia, is taking advantage of what analysts view as a relatively short-term window in the oil market to boost output. The United Arab Emirates and other countries have chafed at restraints on production that have opened the way for the United States and other producers outside OPEC Plus to pump more oil. In addition, Saudi Arabia and other oil-producing countries appear to have an interest in pleasing President Trump, who wants lower gasoline prices for American drivers. Want all of The Times? Subscribe.
Yahoo
29 minutes ago
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Trump, Carney to speak soon, Canadian official says
WASHINGTON (Reuters) -President Donald Trump and Canadian Prime Minister Mark Carney will likely talk "over the next number of days" after the U.S. imposed a 35% tariff on goods not covered by the U.S.-Mexico-Canada trade agreement, a Canadian official said on Sunday. Dominic LeBlanc, the federal cabinet minister in charge of U.S.-Canada trade, told CBS News' "Face the Nation" that he believes there is an option of striking a deal that will bring down tariffs. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
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Lando Norris Wins with One-Stop Strategy in Hungary, McLaren Captures 200th Win
On the opening lap of the Hungarian Grand Prix, Lando Norris fell from third to fifth, being passed by the Mercedes of George Russell and the Aston Martin of Fernando Alonso, as pole-sitter Charles Leclerc and Norris's teammate, Oscar Piastri, pulled ahead. Norris's mistake on the opening lap ultimately won him the race as McLaren split their strategy, with the only chance of Norris competing for a win coming with a one-stop race, keeping him out of most of the wheel-to-wheel racing action. Norris, Piastri, and Leclerc were all chasing their ninth career win, with Norris taking the win for his side of the McLaren garage and bringing the English team their 200th win. Norris's win over Piastri in second drops Piastri's points lead to nine points. "I'm dead, it was tough," Norris told F1TV. "We were not planning on the one-stop at the beginning, but after the first lap, it was kinda our only option to get back into things. The final stint with Oscar catching, I was pushing flat out." Leclerc was able to hold off Piastri through the first set of pit stops on the two-stop strategy, with Piastri pitting first on lap 19 for the undercut and Leclerc staying ahead after pitting a lap later. While Norris was running behind Leclerc and Piastri, the championship leader had to choose his priority of racing against Leclerc or Norris. In the end, Piastri extended his middle section to have the freshest hard tires to take the race to his teammate in the closing laps, after Leclerc was pulled to the pits complaining about his tires. Ultimately, on lap 41, Leclerc and Ferrari took the bait when McLaren set up the pit for Piastri, drawing Leclerc down the pit lane. Piastri and McLaren had decided by this half way point, while just two seconds behind Leclerc, that the race was with their competitor on the other side of the McLaren garage. Piastri would pit on lap 46. Five laps later, Piastri was able to make the run on Leclerc for the lead once his second hard tires were heated underneath him. When Piastri moved into second ahead of Leclerc, he was nine seconds behind his teammate on 14-lap fresher tires by lap 62, Piastri was within three seconds. Cutting into the lead by about a third of a second a lap, set Piastri up for his first attempt at a race-winning pass to come with two laps remaining, a lockup kept Norris ahead. "I think I needed to be a couple of tenths closer, which was going to take a mistake by Lando to achieve that," Piastri told F1TV. "I felt like that was going to be my best chance, you never want to save it for the next lap, which never comes." As soon as Norris picked the one-stop option, Piastri was forced into his only move being an overtake on a notoriously hard passing track. "I pushed as hard as I could, I think after I saw Lando going for the one [stop], I knew I was going to have to overtake on the track, which is much easier said than done around here," Piastri said. "Tried a few things, it was a gamble either way, today unfortunately we were on the wrong side of it. The team did a great job, the car really came alive in the second half of the race." When Leclerc fell to third, his race came undone. George Russell, came out fourth behind the Ferrari after his final pit stop. While trying to defend, Leclerc was desperate and aggressive as Russell radioed that the Ferrari was moving under braking on lap 62. Leclerc pulled the same move on lap 63, but Russell was able to get around the second time. The Stewards reviewed Leclerc's move and hit him with a five-second penalty. By the end of the race, Leclerc was 15 seconds off the podium but held fourth place with the penalty crossing the finish line 16 seconds ahead of Alonso. Aston Martin had their best race finish as Alonso took fifth ahead of Sauber's Gabrial Bortoleto and his teammate Lance Stroll. Liam Lawson finished ahead of Max Verstappen in ninth with Kimi Antoneill holding on with hard tires for 48 laps to capture the last point of the Grand Prix, keeping Issac Hadjar and Lewis Hamilton at bay. You Might Also Like You Need a Torque Wrench in Your Toolbox Tested: Best Car Interior Cleaners The Man Who Signs Every Car Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data