- Reuters
US Treasury grants flexibility on trace minerals in EV tax credits
New rules took effect on Jan. 1 restricting Chinese content in batteries eligible for EV tax credits of up to $7,500, which sharply cut the number of eligible vehicles. Treasury has temporarily exempted some trace critical minerals from new strict rules barring materials from China and other countries deemed a "Foreign Entity of Concern" (FEOC), including North Korea, Russia and Iran. John Bozzella, who heads the Alliance for Automotive Innovation, a group representing major automakers, said the new Treasury rules "appear to recognize the realities of the global supply chain by providing some temporary flexibility in terms of where the critical minerals in EV batteries can be sourced."
- Motley Fool
3 Vanguard ETFs to Buy If You're Looking for Reliable Passive Income
ETFs can be a great way to boost your passive income stream while also achieving diversification.
- Reuters
Euro zone yields drop after weak U.S. jobs data spurs rate cut hopes
Euro zone bond yields fell sharply on Friday after data showed the U.S. labour market was much weaker than expected in April, raising hopes for interest rate cuts. Nonfarm payrolls data showed the U.S. labour market added 175,000 jobs in April, down from 315,000 in March and well below the 243,000 increase economists expected. Bond yields fell across the board as investors bet the numbers would make the Federal Reserve more likely to lower borrowing costs this year and make other central banks feel more comfortable in doing the same.
