Ant Group appoints Liu Zheng as CFO, effective immediately
Liu is the former chief financial officer of Chinese e-commerce giant Alibaba's (9988.HK), opens new tab logistics arm Cainiao.
Han is set to take over from Eric Jing as CEO of Ant from March 1, according to earlier media reports.
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Reuters
an hour ago
- Reuters
EU's von der Leyen: 15% the 'best we could get'
PRESTWICK, Scotland, July 27 (Reuters) - European Commission President Ursula von der Leyen defended the trade deal clinched with United States on Sunday as "the best we could get" and not to be underestimated given the looming threat of 30% tariffs that had been hanging over the EU. A baseline tariff rate of 15% on EU goods imported into the United States would apply to most goods including cars, semiconductors and pharmaceutical goods, von der Leyen said. Meanwhile, a zero-for-zero tariff rate had been agreed for certain strategic products, including aircraft and aircraft parts, certain chemicals, and certain generic drugs. No decision had been taken on a rate for wine and spirits, she added. Asked if she considered 15% a good deal for European carmakers, von der Leyen told reporters: "15% is not to be underestimated, but it is the best we could get." The European Union committed to purchasing $750 billion worth U.S. LNG and nuclear fuel over three years. "We still have too much Russian LNG that is coming through the back door," she said. The European Commission has proposed phasing out all Russian gas imports by Jan 1, 2028. "Today's deal creates certainty in uncertain times, delivers stability and predictability," von der Leyen told reporters before leaving Scotland.
Reuters
an hour ago
- Reuters
Key elements of EU-U.S. trade deal agreed on Sunday
BRUSSELS, July 27 (Reuters) - The U.S. and the European Union agreed on a framework trade deal on Sunday, ending months of uncertainty for industry and consumers on both sides of the Atlantic. Here are the main elements of the deal: * Almost all EU goods entering the U.S. will be subject to a 15% baseline tariff, including cars, which now face 27.5%, as well as semiconductors and pharmaceuticals. The 15% tariff is the maximum tariff and is not added to any existing rates. * However, the U.S. is to announce the result of its 232 trade investigations in two weeks and decide separately on tariff rates for chips and pharmaceuticals. Whatever U.S. decisions come later on these sectors will be "on a different sheet of paper", European Commission President Ursula von der Leyen said. * The U.S. and EU will have zero-for-zero tariffs on all aircraft and their components, certain chemicals, certain generic drugs, semiconductor equipment, some agricultural products, natural resources and critical raw materials. More products would be added. The situation for spirits is still to be established. * Tariffs on European steel and aluminium will stay at 50%, but von der Leyen said these would later be cut and replaced by a quota system. * The EU pledged to buy $250 billion of U.S. liquefied natural gas (LNG) a year for three years, totalling $750 billion in total, as it replaces Russian gas. The EU will also buy nuclear fuel from the U.S. * Under the deal, the EU pledged to buy U.S. military equipment and European companies are to invest $600 billion in the U.S. over the course of Trump's second term.
Reuters
an hour ago
- Reuters
EU's von der Leyen: trade deal delivers certainty in uncertain times
PRESTWICK, Scotland, July 27 (Reuters) - European Commission President Ursula von der Leyen on Sunday said a U.S. baseline tariff rate of 15% on imported EU goods would apply to cars, semiconductors and pharmaceutical goods. She also said that a zero-for-zero tariff rate had been agreed for certain strategic products, including aircraft and aircraft parts, certain chemicals, and certain generic drugs. No decision had been taken on a rate for wine and spirits, she added. "Today's deal creates certainty in uncertain times, delivers stability and predictability," von der Leyen told reporters before leaving Scotland.
