BYD executive labels UK EV subsidies ‘stupid' as Chinese carmaker expands in Europe
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Skift
an hour ago
- Skift
MakeMyTrip Expands International Listings with Premier Inn's 900+ European Hotels
As direct competition in India is increasing and suppliers are cutting middlemen, MakeMyTrip is moving to international markets to increase supply and distinguish itself. Online travel agency MakeMyTrip has partnered with UK-based hotel chain Premier Inn. Under the partnership, more than 900 Premier Inn properties across the UK, Germany and Ireland have been added to MakeMyTrip's international hotel portfolio. For Premier Inn, the partnership with MakeMyTrip will help increase awareness of the brand in India and neighboring countries. MakeMyTrip's decision was driven by the UK being one of the most preferred destinations for Indian travelers, said Rajesh Magow, co-founder and group CEO of MakeMyTrip. The partnership is a key part of the OTA's strategy to capitalize on India's outbound surge. International Strategy: This is MakeMyTrip's latest effort to expand its international hotel supply. The company has been using a direct contracting strategy to add more hotels to its portfolio, with a focus on high-demand outbound destinations. In a statement, the company said in the past year, it has added more than 2,000 directly contracted hotels across 50 cities in 20 countries. 'These 50 cities collectively account for more than half of India's outbound travel,' MakeMyTrip's statement read. 'Over the past twelve months, we have pursued a focused strategy to deepen our international accommodation offerings across key hubs, particularly in long haul markets such as the UK, Europe, and the U.S.,' said Magow. �
Yahoo
4 hours ago
- Yahoo
BYD rival XPENG 'building momentum' in Australia, earthquake rocks Perth, cops bust 'fake' pink slips
Hello and welcome to Yahoo's live news blog. BYD's Chinese EV rival XPENG says it is ramping up its presence in Australia by shipping in 1,000 more electric SUVs following what it says is strong demand for their vehicles. Residents in Perth have been woken by a 4.8 magnitude earthquake overnight. The quake was about 180km east of WA's capital and occurred shortly after 2am (AWST). Follow along as we bring you regular updates throughout the day. BYD rival XPENG says it is 'building momentum' in Australia You've most likely heard about BYD and their huge surge in popularity in Australia. But another Chinese EV brand says its also making a big impact over here. XPENG says it is sending over 1,000 electric SUVs from August thanks to "growing demand". 'XPENG is at the frontier of AI and smart driving, and Australian drivers are responding to that in a big way," Jason Clarke, CEO of TrueEV, the company which exclusively imports the vehicles to Australia. While Chinese EVs offer a cheaper alternative to other leading brands like Tesla, experts are warning for Australians to do their homework as more and more Chinese brands enter the market. "There's going to be a lot of cars to pick from but be careful which car you're buying, because with so many brands coming to Australia, you might buy something that's great value today, but that brand may not exist in five or 10 years time," founder Paul Maric told Yahoo Finance this month. UK to recognise Palestinian if war doesn't end UK Prime Minister Keir Starmer will recognise a Palestinian state if Israel does not end the crisis in Gaza. The UK would refrain from recognising a Palestinian state if Israel allows more aid into Gaza, stops annexing land in the West Bank, agrees to a ceasefire and signs up to a long-term peace process over the next two months, Starmer said. Israeli Prime Minister Benjamin Netanyahu reacted angrily to the announcement, saying it was rewarding 'Hamas's monstrous terrorism'. There are increased calls for Australia to follow suit, with France earlier this week also recognising a Palestinian state. Prime Minister Anthony Albanese reacted angrily to claims from Netanyahu who said there was no starvation in Gaza. Perth residents woken by 4.8 magnitude earthquake Residents in Perth have been woken to a magnitude 4.8 earthquake which struck a regional town east of WA's capital. Geoscience Australia says the earthquake started near the town of Wyalkatchem in Western Australia's Wheatbelt region, at 2am (AWST). The earthquake was felt across southwestern WA, as far west as Perth about 200km away and even 436km away in the outback town of Kalgoorlie. Geoscience Australia's Senior Seismologist Dr Trevor Allen said the earthquake appeared to have been 'felt extensively' and there could well be damage to buildings. We've detected an #earthquake with a preliminary magnitude of 4.8 at 2.01am in Wyalkatchem, WA. If you need assistance, contact your local emergency services. Complete a felt report at — Geoscience Australia (@GeoscienceAus) July 29, 2025 Dealership accused of issuing fake pink slips Cops in NSW allege a Sydney dealership has been issuing fraudulent pink slips, leading to three men being charged. An investigation found two cars with major defects including no airbags and no anti-lock braking systems and suspension had obtained 'pink slips'. "Following further inquiries, police charged three men – aged 39, 40 and 42-years-old – with knowingly produce false/misleading document state law and breach condition of examiners authority," police said in a statement. Police will allege they issued 22 fraudulent safety inspection reports between January 2025 and May 2025. They will front court today. Do you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube. You've most likely heard about BYD and their huge surge in popularity in Australia. But another Chinese EV brand says its also making a big impact over here. XPENG says it is sending over 1,000 electric SUVs from August thanks to "growing demand". 'XPENG is at the frontier of AI and smart driving, and Australian drivers are responding to that in a big way," Jason Clarke, CEO of TrueEV, the company which exclusively imports the vehicles to Australia. While Chinese EVs offer a cheaper alternative to other leading brands like Tesla, experts are warning for Australians to do their homework as more and more Chinese brands enter the market. "There's going to be a lot of cars to pick from but be careful which car you're buying, because with so many brands coming to Australia, you might buy something that's great value today, but that brand may not exist in five or 10 years time," founder Paul Maric told Yahoo Finance this month. UK to recognise Palestinian if war doesn't end UK Prime Minister Keir Starmer will recognise a Palestinian state if Israel does not end the crisis in Gaza. The UK would refrain from recognising a Palestinian state if Israel allows more aid into Gaza, stops annexing land in the West Bank, agrees to a ceasefire and signs up to a long-term peace process over the next two months, Starmer said. Israeli Prime Minister Benjamin Netanyahu reacted angrily to the announcement, saying it was rewarding 'Hamas's monstrous terrorism'. There are increased calls for Australia to follow suit, with France earlier this week also recognising a Palestinian state. Prime Minister Anthony Albanese reacted angrily to claims from Netanyahu who said there was no starvation in Gaza. UK Prime Minister Keir Starmer will recognise a Palestinian state if Israel does not end the crisis in Gaza. The UK would refrain from recognising a Palestinian state if Israel allows more aid into Gaza, stops annexing land in the West Bank, agrees to a ceasefire and signs up to a long-term peace process over the next two months, Starmer said. Israeli Prime Minister Benjamin Netanyahu reacted angrily to the announcement, saying it was rewarding 'Hamas's monstrous terrorism'. There are increased calls for Australia to follow suit, with France earlier this week also recognising a Palestinian state. Prime Minister Anthony Albanese reacted angrily to claims from Netanyahu who said there was no starvation in Gaza. Perth residents woken by 4.8 magnitude earthquake Residents in Perth have been woken to a magnitude 4.8 earthquake which struck a regional town east of WA's capital. Geoscience Australia says the earthquake started near the town of Wyalkatchem in Western Australia's Wheatbelt region, at 2am (AWST). The earthquake was felt across southwestern WA, as far west as Perth about 200km away and even 436km away in the outback town of Kalgoorlie. Geoscience Australia's Senior Seismologist Dr Trevor Allen said the earthquake appeared to have been 'felt extensively' and there could well be damage to buildings. We've detected an #earthquake with a preliminary magnitude of 4.8 at 2.01am in Wyalkatchem, WA. If you need assistance, contact your local emergency services. Complete a felt report at — Geoscience Australia (@GeoscienceAus) July 29, 2025 Residents in Perth have been woken to a magnitude 4.8 earthquake which struck a regional town east of WA's capital. Geoscience Australia says the earthquake started near the town of Wyalkatchem in Western Australia's Wheatbelt region, at 2am (AWST). The earthquake was felt across southwestern WA, as far west as Perth about 200km away and even 436km away in the outback town of Kalgoorlie. Geoscience Australia's Senior Seismologist Dr Trevor Allen said the earthquake appeared to have been 'felt extensively' and there could well be damage to buildings. We've detected an #earthquake with a preliminary magnitude of 4.8 at 2.01am in Wyalkatchem, WA. If you need assistance, contact your local emergency services. Complete a felt report at — Geoscience Australia (@GeoscienceAus) July 29, 2025 Dealership accused of issuing fake pink slips Cops in NSW allege a Sydney dealership has been issuing fraudulent pink slips, leading to three men being charged. An investigation found two cars with major defects including no airbags and no anti-lock braking systems and suspension had obtained 'pink slips'. "Following further inquiries, police charged three men – aged 39, 40 and 42-years-old – with knowingly produce false/misleading document state law and breach condition of examiners authority," police said in a statement. Police will allege they issued 22 fraudulent safety inspection reports between January 2025 and May 2025. They will front court today. Cops in NSW allege a Sydney dealership has been issuing fraudulent pink slips, leading to three men being charged. An investigation found two cars with major defects including no airbags and no anti-lock braking systems and suspension had obtained 'pink slips'. "Following further inquiries, police charged three men – aged 39, 40 and 42-years-old – with knowingly produce false/misleading document state law and breach condition of examiners authority," police said in a statement. Police will allege they issued 22 fraudulent safety inspection reports between January 2025 and May 2025. They will front court today.
Yahoo
11 hours ago
- Yahoo
AstraZeneca CFO talks tariffs & shifting focus to US market
AstraZeneca's (AZN) revenue hit a record high in the second quarter, driven by cancer drug sales and growth in the US market. AstraZeneca CFO Aradhana Sarin sits down with Market Catalysts host Julie Hyman and Yahoo Finance Senior Healthcare Reporter Anjalee Khemlani to discuss the company's strategy to focus on the US and the impact of tariffs. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. I wonder on the Obviously, the company is celebrating the fact that you hit the largest revenues reported for the quarter. That's really good news, especially as the stated goal is to grow by 2030, and half of that to be part of the US. Talk to me about that and the shift to being a quote-unquote American company now, rather than a sort of UK-based one that we've thought of all these years. Uh, so we, you know, last May, we set this ambition of achieving 80 billion in revenues by 2030, which was almost, you know, doubling our revenues from a 2023 base. Um, and, uh, the US is our our fastest growing market. Uh, when we stack, we don't stack very highly right now, uh, in the US when when you compare pharma revenues because a lot of the pharma companies in the US have much bigger sort of revenue base, but we're growing very fast and our hope is that we'll come, you know, in in in the top five and have half of our revenue. We also set an ambition to have 20 new medicines by 2030. And, um, we already have nine of them and, uh, we announced results for another five of them. So hopefully, uh, that shows that we're on track to to achieve that goal. Well, talk to me about why the US is growing that much far faster. Is it because the dynamics of the healthcare system help boost revenues with more prescribing the the way the PBM system is set up? What are the factors that are helping you grow and are helping you stay confident about achieving that goal? So, there are a bunch of different factors. Um, I think the US is still probably the the best market in the world that rewards innovation. Uh, and we are an innovation-driven company. And so, when new therapies come, you know, we we had a product for breast cancer in her two. Uh, we announced data for another breast cancer product. But as soon as new therapy comes, um, the US market is almost the first to provide access to patients for that new therapy. Uh, secondly, physicians are really, um, you know, we go to Congresses like ASCO where there's, you know, tens of thousands of oncology physicians. They're really into, um, looking at the data and making data-driven decisions. So, again, the, you know, the physicians want the best for their patients and patients are able to get access to medicines very quickly once, you know, drug is approved and so forth in the in the innovative space. In many other markets in the world, that whole process to get approval and then get access and reimbursement just takes a very long time. So that's one reason. Um, the second reason, uh, I think particularly beneficial for oncology medicines, uh, is the part D reform. Uh, so on one hand, the part D reform that was enacted hurts us because we are responsible for paying 20% in the catastrophic phase. But from a patient standpoint, if you're a patient, um, you know, in Medicare, your out of pocket is capped at $2,000. So you can get the best therapy and have no more to pay out of pocket, right? So being in that patient population and getting the best access to medicines and the best care and have your out of pocket limited, uh, is is also great for patients. Um, so I think it's it's where physicians and patients and innovation is rewarded. And that's why it's growing faster given our portfolio is all innovative medicines. So, so let's turn then to the manufacturing base rate and the investment that you're making in the US. And I have to ask about tariffs because we even as we discussed it this morning, this new EU sort of framework agreement, it's still sort of unclear. Are pharmaceuticals coming from the EU exempt? Are they not exempt? It seems a little unclear. So how under what assumption are you operating and how do you operate in that kind of environment? Um, yeah, so you know, I would say this is not a tariff is obviously new, but how we've been thinking about our strategic manufacturing, um, is probably goes back three, four years. So post COVID, we made a strategic decision because we're such a global company that we needed to have segregated supply chains. Um, so for example, uh, in in China and in the emerging markets, we supply a lot of that product from China. Um, in the US, majority of the product is supplied from the US and and so forth in Europe. There is, uh, you know, small minority of product, handful of products actually that we still import from Europe into the US. But we do have excess capacity in the US to manufacture those products. Uh, so what we're, you know, we have 11 manufacturing sites in in the US. So our intention once the tariffs, etc. were were announced and there was talks of tariffs, uh, in the short term was just manage through inventory, so build more inventory in in the US. Um, but we've also started tech transfers for those products which we do import and that those tech transfers would be completed, you know, within a within a year or so, so that we can be fully, you know, not just have the majority, but 100% of it being manufactured in in the US. Um, this new facility that we announced, uh, was part of the plan anyway, but that's a separate has nothing to do with tariffs. It's actually based on the demand that we see potentially for our cardiovascular for new cardiovascular medicine. So, um, but you know, you're right, I think there is a little bit of confusion on when the tariffs are going to be implemented. Um, there is from what I've heard, it is a 15%, but there's also talk that that's the cap. Uh, and, uh, the administration is sort of going to wait for the 232 investigation to actually put them into effect or decide. So, uh, in either case, I think we're very well prepared and and we probably have less exposure than than many companies. 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