{"id":18499,"date":"2024-06-28T13:45:53","date_gmt":"2024-06-28T12:45:53","guid":{"rendered":"https:\/\/lupicinio.com\/?p=18499"},"modified":"2024-06-28T13:45:53","modified_gmt":"2024-06-28T12:45:53","slug":"international-trade-june-2024","status":"publish","type":"post","link":"https:\/\/lupicinio.com\/en\/international-trade-june-2024\/","title":{"rendered":"International Trade June 2024"},"content":{"rendered":"

Taiwan’s energy crisis and its implications for the semiconductor industry (10.06.2024)<\/strong>
\nTaiwan, a world leader in semiconductor production, is facing an energy crisis that could severely affect chipmakers due to the high energy demand in this sector. In addition, electricity consumption in Taiwan’s semiconductor industry is expected to increase by 236% between 2021 and 2030, due to the growth of artificial intelligence data centres.<\/p>\n

EU imposes tariffs on Chinese electric cars (12.06.2024)<\/strong>
\nThe European Commission, despite opposition from Germany, is to impose additional tariffs of up to 25% on imported Chinese electric vehicles from July on the grounds that these manufacturers benefit from subsidies that disadvantage their European rivals.<\/p>\n

Federal Reserve holds rates steady, hints at hike this year (12.06.2024)<\/strong>
\nThe US Federal Reserve System kept its key interest rate unchanged and signalled that only one cut is expected before the end of the year. The expectation of two additional cuts indicated in March was removed. The new forecasts show moderate optimism that inflation is heading towards the 2% target but the Fed does not expect to achieve it before 2026. Thus, the S&P 500 reached a record high after the announcement. In addition, the long-term projection for the interest rate increased to 2.8%, and a more aggressive reduction is expected in 2025 with four cuts. The inflation rate is projected at 2.6% by 2024, rising to 2.8% when food and energy are excluded.<\/p>\n

Adidas managers in China accused of taking bribes (17.06.2024)<\/strong>
\nAdidas has launched an investigation into alleged bribery in China, after receiving an anonymous letter from local employees accusing managers of receiving bribes from suppliers of more than 250 million euros. Adidas is working with outside legal counsel and has expressed its commitment to regulatory compliance. Adidas shares fell 4 per cent after the investigation became known. Over the past 18 months, the company has been trying to regain market share in China, posting a 2% sales increase in the first quarter of 2024.<\/p>\n

US crude oil price rises (18.06.2024)<\/strong>
\nThe price of US crude oil rose more than 1% on 18 June, topping $81 per barrel, in its second consecutive day of strong gains. This came despite mixed economic data from China. Analysts see an oil market tightening in the third quarter on anticipated summer fuel demand, which will reduce inventories. In addition, retail sales beat expectations, while industrial production and fixed asset investment disappointed.<\/p>\n

Nvidia becomes world’s most valuable company (19.06.2024)<\/strong>
\nNvidia has overtaken Microsoft and Apple to become the world’s most valuable company, with a market capitalisation of $3.33 trillion, thanks to a 200% increase in its share price in 2023. This growth is due to strong demand for its artificial intelligence (AI) chips, in addition to its collaboration with Microsoft and Ubisoft on integrating AI into video game products.<\/p>\n

The United Arab Emirates is set to be the largest wealth flow by the end of 2024 (19.06.2024)<\/strong>
\nThe Henley Private Wealth Migration Report projects that the United Arab Emirates (UAE) will be the top wealth magnet by 2024, with a net inflow of 6,700 millionaires, followed by the United States with 3,800 millionaires. Singapore will rank third with 3,500 millionaires. China, the UK and India will be the top countries with outflows of millionaires, with 15,200, 9,500 and 4,300 respectively. The outflow of millionaires from the UK is attributed to economic and political turmoil, while Chinese and Indian millionaires are seeking better living conditions and services.<\/p>\n

Apple could be fined for breaching EU competition law (24.06.2024)<\/strong>
\nThe European Union has accused Apple of imposing unfair restrictions on app developers for its App Store, violating the new Digital Markets Act 2022 that seeks to promote competition in the tech industry and gives regulators sweeping powers to force large companies to change their business practices. Apple could face a penalty of 10% of its global annual revenue, but a final decision on the applicable fine is expected in March 2025.<\/p>\n

Euribor falls at the end of June (25.06.2024)<\/strong>
\nThe Euribor mortgage index fell 3.58% at the daily rate, much lower than the recent peak of 3.72% in June, despite initial uncertainty following the ECB decisions. This decline benefits some four million variable mortgages in Spain, and thus suggests significant monthly savings potential for mortgage holders, e.g. some 29 euros less per month for a typical 150,000 euro 25-year loan with a spread of 1%.<\/p>\n

 <\/p>\n

*******************************************<\/p>\n

In Madrid, 30 June 2024<\/p>\n

International Trade and Sanctions Department<\/p>\n

Lupicinio International Law Firm<\/p>\n","protected":false},"excerpt":{"rendered":"

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