Europe’s carmakers risk losing plug-in hybrid war to China on their own turf

Global tech stocks experienced a rally following Nvidia's strong earnings report, which alleviated concerns about a potential slowdown in AI spending. The chipmaker's positive performance has boosted investor confidence, leading to a climb in markets as fears of an AI bubble were addressed. Nvidia's revenue forecast has further solidified its position in the tech sector.

Germany's Renk has raised its midterm revenue guidance, anticipating growth driven by increased demand for military equipment in Europe, particularly fighting vehicles. The company expects this growth to accelerate from 2028.

The UK oil sector is playing a crucial role in Europe's integrated energy system, providing essential supplies amid ongoing geopolitical tensions and energy market fluctuations. This reliance on UK oil highlights the interconnectedness of European energy security and the need for stable supply sources.

Two former executives from Lone Star are aiming to increase the assets under management at their investment firm to €10 billion ($11.5 billion). This move is part of their strategy to compete more effectively with larger rivals in the European market.

German Finance Minister Lars Klingbeil reported that his recent trip to China resulted in assurances regarding the continued supply of critical raw materials. He highlighted this as one of the key achievements from his four-day visit to Asia.

Nvidia reported a strong revenue forecast, expecting sales of approximately $65 billion for the January quarter, surpassing analysts' predictions by about $3 billion. This announcement has alleviated concerns regarding a potential bubble in the AI industry. In response, stock futures surged, and the Nikkei 225 index rose over 3%. Additionally, White House officials are advocating against a bill that would restrict Nvidia's AI chip sales to China and other adversarial nations.

China is stepping up as a leader in climate action, according to green industry figures, particularly as the U.S. has reduced its participation in key climate meetings. This shift is seen as China filling a leadership vacuum in global climate discussions, as highlighted by UN and business leaders.

White House officials are urging Congress to reject a bill that would restrict Nvidia's ability to export AI chips to China and other adversarial nations. This measure has raised concerns about its potential impact on the semiconductor industry and national security. The White House's position reflects a broader strategy to maintain technological leadership while managing geopolitical tensions.