Buffeted by Middle East, propelled by China

Buffeted by Middle East, propelled by China

Customers at a restaurants on Nanjing East Road in Shanghai, China, on Wednesday, Oct. 2, 2024.  Qilai Shen | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like … Read more

Auto giants are getting nervous about the prospect of massive fines

Auto giants are getting nervous about the prospect of massive fines

Workers producing pure electric vehicles at a Volkswagen (Anhui) workshop in Hefei, China, on Sept. 25, 2024. Cfoto | Future Publishing | Getty Images Europe’s top car giants appear to be increasingly concerned about the prospect of massive fines, particularly as electric vehicle demand falters ahead of the next tightening of carbon regulations. Automakers operating … Read more

U.S. bans new Chinese firms over forced labor claims in Uyghur region

U.S. bans new Chinese firms over forced labor claims in Uyghur region

U.S. Department of Homeland Security emblem.  Gwengoat | Istock | Getty Images The U.S. has added two new Chinese companies to a Xinjiang trade blacklist over forced labor accusations. The move comes just one week after Beijing retaliated against claims of human rights violations in the region and related “discriminatory measures” from American companies. The … Read more

Amazon’s record forest fires hit Brazil’s indigenous communities

Amazon’s record forest fires hit Brazil’s indigenous communities

BBC Raimundinha Rodrigues Da Sousa says her indigenous community is at risk from inhaling so much smoke “If these fires continue, we indigenous people will die.” Raimundinha Rodrigues Da Sousa runs the voluntary fire service for the Caititu indigenous community in the Brazilian Amazon. Their land is supposed to be protected under the Brazilian constitution. … Read more

Philippines levies 12% VAT tax on digital services by Amazon, Netflix and Disney

Philippines levies 12% VAT tax on digital services by Amazon, Netflix and Disney

Chesnot | Getty Images News | Getty Images The Philippines will impose a 12% value-added tax on digital services offered by tech giants such as Amazon, Netflix, Disney, and Alphabet, in a move that will level the playing field with domestic brick and mortar players, the internal revenue agency said on Thursday. President Ferdinand Marcos Jr signed into law on Wednesday the imposition of VAT on non-resident digital service providers … Read more