Table of Contents

• The European Union

• Alphabet

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Economy & Finance

The European Union

The European Union has decided to impose additional tariffs of up to 45.3% on electric vehicles imported from China, citing what it claims are unfair subsidies that include low-cost land, batteries, and raw materials. The move follows a year-long anti-subsidy investigation by the European Commission and comes amid escalating trade tensions with Beijing, which has retaliated by probing EU imports like pork, dairy, and brandy. Although Germany, a significant EU economy, opposed the tariffs, other EU members supported them to counteract a surge in lower-cost Chinese EVs that now hold 8% of the European market. The Commission has suggested talks with China could continue, including discussions on setting minimum price commitments for imported cars, although negotiations remain fraught with disagreements.

Technology

Alphabet

Alphabet, the parent of Google, reported stronger-than-expected third-quarter results, fueled by impressive growth in its cloud division, which saw revenue climb nearly 35% to $11.35 billion, surpassing projections. Earnings per share hit $2.12, beating the anticipated $1.85, and total revenue reached $88.27 billion. In response, Alphabet shares rose about 6% in after-hours trading. YouTube’s ad revenue also exceeded expectations, reflecting growth amid competition. CEO Sundar Pichai highlighted Alphabet’s AI advancements across its product suite, noting that these tools are enhancing YouTube recommendations and enabling cost-cutting measures. Alphabet recently reorganized senior leadership, with Prabhakar Raghavan stepping down from his role over search and ads, replaced by Nick Fox.

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