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Real-time News
July 27 - German sports car manufacturer Porsche announced on the 27th that it will cut another 5,000 jobs in Germany by 2035. This is the companys latest large-scale layoff plan, aimed at reducing labor costs and improving competitiveness.
1. Agricultural consultancy AgRural reported on Monday that as of last Thursday, the second-season corn harvest in Brazils south-central region for 2026 was 60% complete, up from 49% the previous week but down from 68% at the same time last year. AgRural stated that while the overall harvest progress was acceptable last week, some producing areas lost momentum due to returning rains, particularly in Paraná, Mato Grosso do Sul, and southern São Paulo, where rainfall hampered field operations. 2. The Saudi Ministry of Defense stated that it intercepted and destroyed drones launched from Iraqi territory. These drones, belonging to Iranian-backed militias, targeted oil facilities in the eastern region and Riyadh. The Ministry reiterated Saudi Arabias right to respond. 3. A statement indicated that the Houthi rebels in Yemen claimed to have used drones to target Saudi oil transportation infrastructure. 4. According to Futures Daily, on July 27th, a document from EVE Energy titled "Price Adjustment Letter Regarding the Transmission of Consumption Tax Costs" circulated within the lithium battery industry. The price adjustment letter indicates that, according to Announcement No. 20 of 2026 issued by the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration, the national consumption tax on lithium primary batteries and lithium-ion batteries will be gradually reinstated starting September 1, 2026. This policy represents a legally mandated rigid cost change, and the company and its subsidiaries will transmit the consumption tax costs in accordance with the rules. According to reports, EVE Energys price adjustment letter is the first formal notification from a leading domestic battery company to its customers regarding cost transmission after the implementation of the new battery consumption tax policy. 5. Data released by the U.S. Department of Agriculture (USDA) shows that private exporters reported selling 132,000 tons of soybeans to China and 126,000 tons to unknown destinations for delivery in the 2026/2027 marketing year. 6. Goldman Sachs: If a new agreement is reached between the U.S. and Iran in the coming days or weeks, we expect the risk premium for TTF to decrease significantly, potentially falling below €50/MWh. If Middle Eastern energy exports only gradually return to normal by 2027, TTF natural gas prices are expected to rise to over €100/MWh by December 2026. 7. Citigroup traders are betting the Federal Reserve will keep interest rates unchanged this week. According to Akshay Singal, the banks global head of short-term interest rate trading, their positions will profit if the Fed keeps rates stable. Singal stated, "We still maintain our expectation that interest rates will remain unchanged." He added that Fed Chairman Warsh has clearly stated that he wants the market to focus on data, and the data indicates that the Fed does not currently need to raise rates. 8. According to foreign media reports, the South African Sugar Industry Association (SA Canegrowers) has urgently appealed to Trade, Industry and Competition Minister ParksTau to intervene and ultimately complete an update to the sugar import tariff mechanism to reflect the current situation in the domestic sugar market.Amsterdam-listed ASML and BESI resumed trading, with declines ranging from 7.4% to 8%.The Dallas Fed Manufacturing Employment Index for July was 12.2, down from 13.9 in July.The Dallas Feds new orders index for July was 6.4, down from 2.3 in the previous month.
