UK House Prices Fall for First Time Since 2023 
Trump Administration Pauses Visa Appointments Worldwide 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Asian Stocks Mixed as Korean Chipmakers Rally 
Australia Plans New Rules Giving Users Control Over Social Media Feeds 
Trump Orders Major Overhaul of US Navy Shipbuilding 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
SEC Seeks ISS Client Voting Records in Proxy Adviser Probe 
Brazil Warns EU of Retaliation Over Animal Products Ban 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Countries Tighten Social Media Bans for Children 
Yen Rebounds as BOJ Rate Hike Bets Rise 
OPEC+ Expected to Hold October Oil Output Steady 
Add as a preferred source on Google
The U.S. government is reviewing plans to cancel billions in clean energy investments, potentially impacting major electric vehicle (EV) and carbon capture projects funded under the Biden administration. According to a list reviewed by Reuters, the Department of Energy (DOE) is assessing up to $12 billion in grants and loans, including large-scale direct air capture hubs and EV manufacturing initiatives.
Among the affected projects is a billion-dollar carbon capture hub involving Occidental Petroleum. Also under review are key auto sector awards: $500 million for General Motors’ conversion of its Lansing Grand River Assembly Plant in Michigan for EV production; $335 million for Stellantis to reopen and convert its Belvidere, Illinois, plant for electric trucks; and $250 million for Stellantis’ Indiana Transmission Plant to produce EV components.
The DOE has already announced the cancellation of $7.56 billion in financing for projects that failed to meet taxpayer return requirements. Other potential rollbacks include $32 million for Hyundai Mobis in Ohio, $89 million for Harley-Davidson’s York, Pennsylvania EV expansion, $80 million for Blue Bird’s electric school bus facility in Georgia, and $75 million for Cummins’ zero-emission powertrain project in Indiana. Volvo Group’s $208 million plan to upgrade facilities across Maryland, Virginia, and Pennsylvania also faces review.
The DOE stated that each project is being reviewed individually, emphasizing that no final decisions have been made beyond previously announced cuts. Earlier terminations included $331 million at Exxon’s Baytown, Texas refinery, $500 million for Heidelberg Materials in Louisiana, and $375 million for Eastman Chemical in Texas.
White House budget director Russell Vought recently said the administration aims to terminate about $8 billion in climate-related funding across 16 Democratic-led states. Major companies including GM, Harley-Davidson, and Stellantis have declined to comment on the potential funding cancellations.
