China · Business
Same event, multiple sources, transparently cited.
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South Korean Kospi plunges over 18% in two days amid chipmaker selloff, trading halts triggered
South Korea’s Kospi index fell over 18% across July 28-29, led by sharp drops in SK Hynix and Samsung Electronics shares, triggering consecutive trading halts.
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South Korea to Create Future Fund from Semiconductor Tax Windfall to Boost Growth and Cut Inequality
South Korea will establish a Future Response Fund using excess semiconductor tax revenues to finance mega projects and support youth by tackling economic inequality.
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US Job Growth Slows Sharply in June 2026 as Unemployment Rate Falls to 4.2%
US economy added 57,000 nonfarm jobs in June 2026, below forecasts, while unemployment dropped to 4.2%.
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EU imposes €3 customs charge on low-value e-commerce parcels from July 1, 2026
The European Union began charging a €3 customs fee per product category on low-value parcels under €150 from non-EU countries on July 1, 2026.
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Japanese yen hits 40-year low near 163 per US dollar amid US-Iran tensions
The Japanese yen fell past 163 per US dollar for the first time since 1986 as US-Iran tensions push oil prices up and strengthen the dollar.
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HKEX explores removing lunch break and extending trading hours to align with global markets
Hong Kong Exchanges & Clearing is considering ending the midday lunch break, starting trading earlier, and adding evening sessions for select stocks.
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UK Government Fully Nationalises British Steel, Ending Jingye Group Ownership
The UK government nationalised British Steel on July 16, 2026, taking control from Chinese owner Jingye Group to protect jobs and steel production.
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IMF cuts 2026 global growth forecast to 3% citing Middle East war and trade risks
The IMF lowered its 2026 global GDP growth forecast to 3.0% amid Middle East conflict and raised inflation outlook, warning of ongoing economic risks.
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OPEC+ agrees to raise oil output by 188,000 barrels per day starting August 2026
OPEC+ members agreed on July 5, 2026, to increase oil production targets by 188,000 barrels per day beginning in August.
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Palantir reports 93% revenue rise in Q2 2026 and lifts full-year outlook
Palantir’s Q2 2026 revenue rose 93% to $1.94 billion, beating estimates, and it raised full-year revenue guidance to $8.15 billion–$8.16 billion.
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Bank of Japan keeps interest rate at 1% as yen intervention supports currency
The Bank of Japan held its benchmark interest rate at 1% on July 31 amid yen intervention and revised inflation forecasts.
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Uber to Acquire Delivery Hero for $14.8 Billion, Expanding Global Delivery Reach
Uber Technologies agreed to buy Germany’s Delivery Hero for $14.8 billion, gaining control of its delivery services in 50 markets worldwide.
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BMW to cut around 8,000 jobs globally by end of 2027, mainly in Germany
BMW announced plans to cut about 8,000 jobs worldwide by end-2027, focusing on German administrative staff through a voluntary redundancy program.
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Bank of Korea raises benchmark interest rate to 2.75% for first time since 2023
South Korea's central bank raised its key interest rate by 25 basis points to 2.75% on July 16, responding to inflation and strong economic growth.
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China's June 2026 exports rise 27% led by AI hardware amid strong global demand
China's exports surged 27% in June 2026, driven by AI-related products and semiconductor price hikes, while imports jumped 36%, posting a $125.6 billion trade surplus.
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Tesla’s Q2 2026 vehicle deliveries rise 25% to 480,126, beating estimates
Tesla delivered 480,126 vehicles worldwide in Q2 2026, a 25% increase that surpassed analyst forecasts.
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Meta launches cloud business to sell excess AI computing power and models
Meta Platforms plans a cloud business to sell AI compute power and models, competing with AWS, Microsoft Azure, and Google Cloud.
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Chinese chipmaker CXMT shares surge 470% in Shanghai STAR Market IPO debut
ChangXin Memory Technologies shares jumped about 470% on July 27, making it China’s most valuable listed company at 3.3 trillion yuan market cap.
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Fire at Fujian Jinjiang shoe factory kills 28, investigation underway
A fire on July 9 at Huiteng Shoes factory in Jinjiang, Fujian, killed 28 people and prompted a full investigation.
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EU top court upholds €4.1 billion antitrust fine on Google for Android abuses
The European Court of Justice dismissed Google's appeal to uphold a €4.1 billion EU fine over Android antitrust violations.
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US-Iran hostilities pause lowers oil prices; markets respond before renewed tensions
The US and Iran paused fighting in late July, easing oil prices and boosting US stocks before attacks resumed raising tensions.
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IBM shares tumble after Q2 revenue misses amid AI-driven IT spending shift
IBM reported lower-than-expected Q2 2026 revenue and earnings, citing AI infrastructure demand reshaping customer budgets, sending shares down 22-26%
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Pakistan-registered Boeing 737 cargo plane lost off Karachi after navigation failure
A Pakistan-registered Boeing 737-400 cargo plane operated by K2 Airways went missing near Karachi on July 7 after reporting navigation system failure.
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Ryanair passenger partially sucked out of window after mid-air decompression
A Ryanair flight from Greece to Germany returned after a cabin window detached, nearly pulling a 61-year-old passenger out mid-air.