Australia's annual inflation rate has sunk to a two-year low but is slightly above expectations, which might lengthen the wait time for rate cuts.
Chinese-backed Swedish electric vehicle (EV) maker Polestar Automotive is preparing to shift production of cars it plans to sell into Europe to its U.S. plant from China in view of rising geopolitical tension, its CEO said. Asked how Polestar is preparing for a European probe into Chinese-made EVs possibly leading to increased tariffs, Thomas Ingenlath said the automaker is exploring the idea of exporting the Polestar 3 made in South Carolina to the European Union. Polestar builds the majority of its cars in the Chinese cities of Chengdu and Taizhou.