Headlines

China will roll out a three-month nationwide campaign to curb online misconduct in the auto industry, aiming to foster fairer competition in the country’s rapidly growing new energy vehicle (NEV) sector, according to a notice released on Wednesday by the Ministry of Industry and Information Technology, China Daily reported.

The National Company Law Appellate Tribunal (NCLAT) has upheld a February 2025 order by the National Company Law Tribunal (NCLT), which cancelled the initiation of insolvency proceedings against Noida-based Logix Infrastructure, developer of the delayed Blossom County project in Noida Sector 137, the Hindustan Times reported. The tribunal called the IBC petition a fraudulent misuse of the insolvency law and recalled the corporate insolvency proceedings against Logix Infrastructure.

Argo Blockchain, a UK-based Bitcoin mining company listed on the London Stock Exchange, has entered a restructuring agreement that will likely see over 80% of its equity acquired by US group Growler Mining, UKTech.news reported. The firm announced in June that it was seeking a loan and restructuring deal described as “necessary to avoid an uncontrolled insolvency and liquidation”.

Mexico said on Wednesday it will raise tariffs on automobiles from China and other Asian countries to 50%, in a broad overhaul of import levies the government said would protect jobs and analysts said was aimed at placating the United States, Reuters reported. The Economy Ministry said that the moves, which will increase tariffs to varying degrees on goods across multiple sectors including textiles, steel and automotive, would impact $52 billion of imports.

The Supreme Court on Tuesday announced it will quickly weigh the legality of most of President Donald Trump’s sweeping tariffs, a far-reaching case that could determine the fate of a cornerstone of the president’s agenda and alter the course of the U.S. economy and global trade, the Washington Post reported. The justices asked the government and a group of small businesses and states to expedite briefings in the case, setting a deadline of Sept. 19 to submit them. The case has been set for argument the first week in November.

U.S. President Donald Trump urged EU officials on Tuesday to hit China with tariffs of up to 100% as part of a strategy to pressure Russian President Vladimir Putin, according to a U.S. official and an EU diplomat, Reuters reported. Trump also encouraged the European Union to slap India with similarly expansive tariffs, said the official. China and India are major purchasers of Russian oil and, as such, they play a vital role in keeping Russia's economy afloat as it continues to pursue its expanded invasion of Ukraine, which began in 2022.

Canadian Prime Minister Mark Carney says he’ll announce Thursday the first wave of major projects to be fast-tracked under a new law passed by his government, Bloomberg News reported. The law aims to speed up regulatory reviews for projects deemed to be in the national interest, with the goal of permitting them within two years. Carney wants to expand Canada’s infrastructure, such as ports and rail lines, to allow exporters to reach new trading partners and reduce their reliance on the US.

China’s deflationary pressures persisted in August, with a gauge of consumer prices slipping back into contraction as an uncertain growth outlook dents sentiment, the Wall Street Journal reported. The country’s consumer-price index fell more than expected last month, underlining worries that deflation may be becoming entrenched. Data from the National Bureau of Statistics showed that the index fell 0.4% from a year earlier in August after being flat in July.

Around 30 million car finance loans are under scrutiny by the City watchdog to see if they qualify for mis-selling compensation payments, according to its chief executive, the Telegraph reported. On Tuesday, Nikhil Rathi, the Financial Conduct Authority (FCA) chief executive, said the agency was examining the agreements – which were taken out between 2007 and 2020 – to see if they were mis-sold by banks and qualify for the FCA’s mass redress scheme.

The European Union plans to propose a partial suspension of the bloc’s trade agreement with Israel as pressure piles on the institution to take a harder line on Gaza, the Wall Street Journal reported. “We will propose sanctions on the extremist ministers and on violent settlers, and we will also propose a partial suspension of the association agreement on trade-related matters,” EU President Ursula von der Leyen said, addressing the crisis in Gaza that has divided European states.