China’s electric and hybrid vehicle sales jump 40.7% in 2024

Sales of electric and hybrid vehicles jumped more than 40 percent in China last year, as demand for new energy models continues to surge and the sector remains entrenched in a gruelling price war.The Chinese electric vehicle market has witnessed explosive growth in recent years, driven in part by generous subsidies from Beijing.But the world’s largest automotive market has also seen fierce competition among domestic car manufacturers as a consumption slowdown fuels a price war that is weighing on profitabilityIn 2024, almost 11 million new energy vehicles (NEVs) were sold, a year-on-year increase of 40.7 percent, the China Passenger Car Association (CPCA) said Thursday. NEVs accounted for nearly half — 47.6 percent — of all retail sales last year, the association said.By comparison, such vehicles accounted for just 22.6 percent of sales in the European market in November, according to the European Automobile Manufacturers’ Association.In China, NEV sales surpassed 1.3 million units in December, CPCA data showed, up 37.5 percent year-on-year and representing the fifth consecutive month of sales of more than one million.Beyond just NEVs, the total number of vehicles sold last year in the Chinese market swelled 5.5 percent, reaching nearly 22.9 million units, the CPCA said.For EV companies, the price war is likely to carry on in the new year, CPCA secretary general Cui Dongshu said during a Thursday press conference.More than 200 car models saw price cuts last year, compared to 148 in 2023, Cui added. BYD has emerged as a clear leader in the Chinese market — the Shenzhen-based firm sold more than four million vehicles globally in 2024.- Bleak overseas market -While BYD occupies roughly one third of the Chinese market, the situation is bleaker overseas, where various governments have hiked customs duties on vehicle imports from the country.In December, sales in foreign markets accounted for just 12 percent of BYD’s overall sales, according to the company’s figures.”We are now experiencing significant pressure on exports,” Cui said Thursday, adding that Chinese NEV sales are “currently being suppressed by the European Union”.The European Union has said that extensive state support by Beijing for its domestic carmakers has led to unfair competition, with an investigation by the bloc finding that subsidies were undercutting local competitors.Foreign automotive giants, on the other hand, are battling against slumping sales in the world’s second-largest economy.BYD’s quarterly revenue surpassed global rival Tesla’s for the first time during the third quarter last year.

UK FM Lammy refuses to condemn Trump comments on Greenland

British Foreign Secretary David Lammy on Thursday refused to condemn president-elect Donald Trump’s Greenland ambitions while insisting that the US acquiring the self-governing Danish territory is “not going to happen”.”I’m not in the business of condemning our closest ally,” Lammy told Sky News, adding that he was “in the business of interpreting what sits behind this and there are some very serious national economic security issues”.The comments contrast with the response of some European leaders on Wednesday to Trump refusing to rule out using economic or military force to acquire Greenland.Germany’s Olaf Scholz said the stance had sparked “notable incomprehension” and “uneasiness” among EU leaders, and later noted on social media that “borders must not be moved by force”.London, which prizes its so-called special relationship with Washington, is eager not to damage relations with Trump and his team under the UK’s new Labour government.It follows a number of Labour ministers previously making disparaging comments about the president-elect, including Lammy, who once described him as a “tyrant” and “xenophobic”.Trump has designs on the mineral- and oil-rich Arctic island, an autonomous territory of European Union member Denmark that itself has eyes on independence.He set alarm bells ringing on Tuesday at a news conference when he said the US needs Greenland “for national security purposes”.In a round of interviews on Thursday, Britain’s top diplomat branded the incoming US president’s remarks “classic Donald Trump” and said they were centred around “Americans’ national economic security”.”In the end, that is up to the people of Greenland and their own self-determination, and there is a discussion within Greenland about those very same issues,” he told Sky News.Asked by BBC radio how Britain would respond if Trump acted on his claim that the US might try to acquire Greenland by economic or military force, Lammy insisted that “it’s not going to happen”, noting that “no NATO allies have gone to war, since the birth of NATO”.But he was also careful not to criticise Trump, noting that while his “rhetoric” and “unpredictability” can be “destabilising”, the outcomes of that can be beneficial to Western allies.He cited Trump’s insistence on increased defence spending by NATO members as an example.Lammy added that Trump was addressing valid “concerns about Russia and China in the Arctic” as well as “national economic security” in his Greenland comments. “He recognises, I’m sure, that in the end, Greenland today is a (part of the) Kingdom of Denmark. There is a debate in Greenland about their own self-determination.”Lammy also noted that the US has troops and a military base on Greenland.”So it has got a stake in that Arctic theatre,” he added.

Zemmour et Knafo invités à l’investiture de Trump le 20 janvier

Le président de Reconquête!, Eric Zemmour, et l’eurodéputée Sarah Knafo, se rendront à la cérémonie d’investiture du républicain Donald Trump le 20 janvier à Washington, a indiqué jeudi le parti d’extrême droite à l’AFP.L’eurodéputée qui a suivi un séminaire l’été dernier au Claremont Institute, un groupe de réflexion conservateur proche de Donald Trump, a confirmé auprès de l’AFP l’invitation transmise aux dirigeants de Reconquête!Sarah Knafo, qui prend Donald Trump comme modèle pour la droite conservatrice française, a notamment assisté à l’un des derniers meetings de la campagne du président élu, en Pennsylvanie.Elle le présente comme le “candidat de l’identité nationale et de la paix”, celui qui “défend la liberté d’expression aux côtés d’Elon Musk contre tous les censeurs”.L’entourage de Marine Le Pen avait indiqué mercredi à l’AFP qu’aucune invitation à la cérémonie d’investiture n’avait pour l’instant été reçue par les dirigeants du Rassemblement national.

Venancio Mondlane, inspiring protests that rocked MozambiqueThu, 09 Jan 2025 09:26:40 GMT

Mozambique’s charismatic opposition leader Venancio Mondlane, who claims to have won the October 9 general election, has used social media to fire up younger people desperate for change in his impoverished country.Known simply by his first name, the 50-year-old former MP and media commentator returned home Thursday to push his claim to the presidency after …

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Deadly Los Angeles wildfires threaten Hollywood

Wildfires threatened to engulf parts of Hollywood on Thursday as a growing number of blazes raged across Los Angeles, forcing tens of thousands of people to flee their homes and claiming at least five lives.Over 100,000 people have been told to flee at least five separate blazes, including in the heart of historic Hollywood, just a few hundred meters (yards) from the storied theaters of Hollywood Boulevard.Fighters in helicopters dumped water on the Hollywood Hills blaze where an evacuation order was issued for a number of streets in the historic district.Sharon Ibarra, 29, told AFP she had rushed into Hollywood when she heard of the blaze to see if she could help her boss with her two babies.”I am super nervous, scared because of everything that has happened in the other places,” she said. The sudden eruption created gridlock on Hollywood’s streets, hampering efforts by people who live in the area — a mixture of ritzy homes and rent-controlled apartments — to leave.Fast-moving flames fanned by powerful winds have levelled 1,500 structures, many of them multi-million dollar homes in a rolling tragedy that the US media describe as the worst in the city’s history.Los Angeles County Fire Chief Anthony Marrone said his crews were struggling with the scale and speed of the unfolding disasters.”We’re doing the very best we can. But no, we don’t have enough fire personnel in LA County between all the departments to handle this,” he said.New fires appeared to be spotting as embers were thrown up to 2.5 miles (four kilometers) including one that razed a large property late Wednesday in the densely populated Studio City area.Adam Vangerpen of Los Angeles County Fire Department said crews were fighting to stop this new fire from spreading.”It’s a four-story home… we did just have the winds pick up again, so we are seeing some ember casting,” he said.”Our hope is to hit it hard and make sure that we’re trying to keep it out of the brush right now, because with the winds picking up there in the hills, that is a concern of ours.”Millions of Angelenos have watched in horror as a series of blazes have erupted around America’s second biggest city, sparking panic and fear.Winds with gusts up to 100 miles (160 kilometers) an hour spread the fire around the ritzy Pacific Palisades neighborhood with lightning speed.At least 16,000 acres (6,500 hectares) burned there, with 1,000 homes and businesses razed.A separate 10,600-acre (4,300-hectare) fire was burning around Altadena, north of the city, where flames tore through suburban streets.- Lost everything -Los Angeles County Sheriff Robert Luna said five people were known to have perished, with more deaths feared.Among those who died was 66-year-old Victor Shaw, whose sister told local broadcaster KTLA he had ignored pleas to leave as the fire swept through his Altendena area neighborhood because he wanted to stay and protect their home.”When I went back in and yelled out his name, he didn’t reply back,” Shari Shaw said.”I had to get out because the embers were so big and flying like a firestorm that I had to save myself.”Shaw’s body was found by a friend some time later on the driveway of his razed home, a garden hose in his hand.William Gonzales got out alive, but his Altadena home was gone.”We have lost practically everything; the flames have consumed all our dreams,” he told AFP.Ride-hailing companies Uber and Lyft are offering evacuating residents free rides to shelter locations.Pasadena fire chief Chad Augustin said up to 500 buildings had been lost to the flames in that area.He hailed the bravery of first responders. “Our death count today would be significantly higher without their heroic actions,” Augustin told reporters.US President Joe Biden cancelled a trip to Italy this week to focus on the federal response to the fires. “We’re doing anything and everything, and as long as it takes to contain these fires,” Biden earlier told reporters.His incoming successor Donald Trump blamed the California governor Gavin Newsom for the devastation, calling on him to resign. “This is all his fault,” Trump said on his Truth social platform. – Climate crisis -Having destroyed perhaps hundreds of multimillion-dollar homes, the Pacific Palisades fire looked set to be one of the costliest blazes on record.AccuWeather said it estimated up to $57 billion of losses.Wildfires are part of life in the US West and play a vital role in nature.But scientists say human-caused climate change is altering weather patterns.Southern California had two decades of drought that were followed by two exceptionally wet years, which sparked furious vegetative growth — leaving the region packed with fuel and primed to burn — and then has had no significant rain for eight months.

Assault on Chad presidential complex leaves 19 deadThu, 09 Jan 2025 08:48:07 GMT

Gunmen attempted to storm the presidential complex in Chad’s capital N’Djamena on Wednesday, sparking a battle that left 18 attackers and one security personnel member dead, the government said.AFP reporters heard gunfire near the site and saw tanks on the street, while security sources reported that armed men had tried to overrun the complex.The government …

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Asian markets hit by worries over US inflation, rates outlook

Asian markets fell Thursday after a tepid lead from Wall Street, with investors increasingly worried about the outlook for inflation and US interest rates as Donald Trump’s second presidency looms.A report saying the president-elect was considering declaring a national economic emergency to provide legal cover to impose tariffs on all imported goods added to the sense of uncertainty on trading floors.Sentiment was also clouded by data showing that Chinese consumer inflation remained almost non-existent despite a raft of stimulus measures in the final three months of last year.And the pound weakened to lows not seen for more than a year on worries about the UK economy.Equities have had an unremarkable start to 2025 after the Federal Reserve in December made a hawkish pivot and indicated it would not cut rates as much as initially expected over the next 12 months owing to sticky inflation and a still-strong labour market.Worries about Trump’s plans to slash taxes, regulate immigration and ramp up tariffs have also led to warnings that prices could reignite.That has sent the yield on the 10-year US Treasury note surging and fanned speculation it could top five percent for the first time since October 2023.Friday’s US employment figures are now well in focus for trade, with markets in New York closed Thursday to mourn former US president Jimmy Carter.Forecast-topping data on job openings and prices paid by services firms compounded traders’ concerns, while analysts said there was unease among investors about Trump’s unpredictable governing style, particularly with him not having to face another presidential election.After fluctuating through the day, the Dow and S&P 500 ended slightly higher on Wall Street, but the Nasdaq dipped.Hong Kong and Shanghai fell after data showed Chinese inflation eased in December, likely piling pressure on officials to ramp up stimulus to boost consumption.Leaders have unveiled a range of measures to kickstart the world’s number two economy, with a focus on getting people to spend, and support for the troubled property sector.”Given the various high-level meetings and policy communiques over the past month, it appears a safe bet to expect more aggressive fiscal policy support from China in 2025, as well as continued monetary policy easing,” said Lynn Song, chief economist for Greater China at ING.”There is the obvious and extensively discussed angle of a less favourable external environment with a high likelihood of additional tariffs and sanctions from the US once President Trump enters office. “Another less discussed element is that there appears to be a greater consensus building domestically on the need for stronger policy support to shake the economy from its extended period of heightened pessimism.”There were also losses in Tokyo, Sydney, Wellington, Taipei, Mumbai and Bangkok, though Seoul, Manila and Jakarta eked out small gains.London slipped at the open and the pound sat at its lowest levels since November 2023 on worries about Britain’s fiscal position and elevated inflation. The drop in sterling comes even as UK 10-year bond yields surge.The dollar also extended gains against the euro.Paris and Frankfurt were also both down.- Key figures around 0810 GMT -Tokyo – Nikkei 225: DOWN 0.9 percent at 39,605.09 (close)Hong Kong – Hang Seng Index: DOWN 0.2 percent at 19,240.89 (close)Shanghai – Composite: DOWN 0.6 percent at 3,211.39 (close)London – FTSE 100: DOWN 0.1 percent at 8,244.29Euro/dollar: DOWN at $1.0295 from $1.0316 on WednesdayPound/dollar: DOWN at $1.2269 from $1.2361Dollar/yen: DOWN at 158.18 yen from 158.38 yenEuro/pound: UP at 83.93 pence from 83.44 penceWest Texas Intermediate: DOWN 0.1 percent at $73.24 per barrelBrent North Sea Crude: DOWN 0.1 percent at $76.07 per barrelNew York – Dow: UP 0.3 percent at 42,635.20 (close)