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European Commission: We are still considering whether and how to incorporate international carbon credits into the emissions trading system.
The European Commission says revisions to the emissions trading system will allow industries to continue emitting emissions beyond 2039 and even into the 2040s.
EU High Representative for Foreign Affairs: The fighting between the US and Iran has further complicated negotiations to end the war.
European Commission: We will propose that more national revenue from the EU Emissions Trading System be invested in industries that pay for emissions trading costs.
European Commission: We will propose to increase the flexibility of the carbon emissions trading system, but with conditions to ensure that companies invest in Europe.
ECB Governing Council member Eskeriva: We will keep all options open and decide on a meeting-by-meeting basis.
The Chief of Staff of the Iranian Armed Forces stated: "The Iranian armed forces stand shoulder to shoulder with the people, appearing on the battlefield in a strong and stable posture. If the enemy lands on the Iranian coast, they will step into a hell from which there is no return."
July 8th Futures News: 1. Greige Fabric Inventory: On July 8th, greige fabric weaving inventory was approximately 32.8 days. Currently, greige fabric prices are unlikely to rise, and profit margins are being squeezed by raw material demand. Market sentiment is cautious, resulting in stable greige fabric inventory. 2. Loom Operating Rate: As the off-season deepens, shipments of conventional fabrics are under pressure, transactions are slowing, and downstream end-users' willingness to purchase and stock up is weak. This week, the operating rate fell slightly to 58.6%. 3. Greige Fabric/Fabric Trading: According to data monitoring and analysis of feedback from 350 price-collecting units, the Ministry of Commerce's China•Shengze Silk and Chemical Fiber Index rose on July 8th. Among them, the chemical fiber fabric price index closed at 101 points, an increase of 0.03 compared to the previous trading day.
The statement indicates that Oman condemns the attacks on oil tankers belonging to Bahrain, Kuwait, Saudi Arabia, and Qatar in the Strait of Hormuz.
According to the latest data from the Fujairah Oil Industrial Zone in the UAE, as of the week ending July 6, total refined product inventories at the port of Fujairah were 10.129 million barrels, an increase of 2.13 million barrels from the previous week. Specifically, light distillate inventories increased by 376,000 barrels to 1.579 million barrels; middle distillate inventories decreased by 264,000 barrels to 1.235 million barrels; and heavy residual fuel oil inventories increased by 2.018 million barrels to 7.315 million barrels.
July 8th - Krishan Gopaul, Senior Analyst for Europe at the World Gold Council, stated that data from the Czech National Bank shows the bank's gold reserves increased by 1.6 tons in June, marking the 40th consecutive month of increases. Year-to-date net purchases have reached nearly 11 tons, bringing its total gold holdings to over 82 tons.
On July 8th, the China Academy of Information and Communications Technology (CAICT), in conjunction with the Computing Power Industry Development Alliance, officially launched the "Computing Power Superbank Ecosystem Co-construction Plan." Leveraging China's computing power platform, the plan explores two innovative service models: a "Computing Power Supermarket" and a "Computing Power Bank," aiming to develop new models for computing power trading and resource allocation suitable for the era of large-scale models. The "Computing Power Supermarket" will implement flexible billing methods such as "card time," "core time," and token-based billing, supporting SMEs to purchase on demand and pay as needed, lowering the initial investment threshold. The "Computing Power Bank" will establish a simulated operation mechanism for computing power resources, encompassing "deposit-billing-withdrawal-credit," encouraging SMEs to deposit idle computing power resources and achieve flexible access through cross-regional and cross-cycle scheduling. It will also research a value distribution model based on tiered settlement according to computing power contribution and explore the construction of a computing power credit score mechanism.
The Stoxx Europe 400 travel and leisure index fell 3%, on track for its biggest drop since March, with Lufthansa down 5.4% and International Airlines Group down 4.3%.
July 8th - Following President Trump's statement that the ceasefire agreement with Iran had ended, oil prices surged, causing a decline in bank and energy-intensive stocks across Europe, dragging down overall European stock markets. The Stoxx Europe 600 index fell 1.3%; the German DAX index fell 1.9%, with German defense giant Rheinmetall falling 5.1% and Deutsche Bank falling 4.3%; the French CAC40 index fell 2%, with Reynolds and Société Générale each falling 4.3%; the UK FTSE 100 index fell 1.3%, with British defense group Babcock International falling 4.3%. The Spanish IBEX 35 index saw the largest decline, due to Trump's statement that he did not want any trade with Spain. Additionally, the Italian FTSE MIB index fell 1.25%, and the Dutch AEX index fell 0.3%.
The Stoxx Europe 600 index fell 1.6%, on track for its biggest one-day drop since mid-March.
US President Trump: NATO is unwilling to help us confront Iran, which is the number one state sponsor of terrorism.
On July 8th, the Ministry of Human Resources and Social Security, the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the National Data Administration jointly issued the "Implementation Opinions on Accelerating the Application and Development of 'Artificial Intelligence + Human Resources and Social Security'". This aims to accelerate the application and development of artificial intelligence in the human resources and social security sector to support the high-quality development of human resources and social security undertakings. The "Implementation Opinions" proposes a five-year development goal: by 2026, to build the infrastructure for "Artificial Intelligence + Human Resources and Social Security" applications and create 20 application scenarios based on large-scale industry models and corresponding high-quality datasets; by 2027, to popularize the application of a number of large-scale human resources and social security industry models and intelligent agents, and explore empowerment paths for approximately 50 high-value application scenarios; and by 2030, to create an innovative landscape where artificial intelligence is widely applied in the human resources and social security sector.
Shell rose 4.1% as oil prices climbed after Trump said the ceasefire was over.
Spanish Prime Minister's Office: (Regarding Trump's order to cut off trade) Spain treats the above remarks as a routine matter.
Both WTI and Brent crude oil prices rose by more than 3% intraday, currently trading at $74.18 per barrel and $78.08 per barrel respectively.
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