South Korea's GDP growth beats forecasts at 3.4% amid AI boom

■ Steady

US warns $3.4bn Airbus loan could jeopardise US-EU tariff truce

US Trade Representative Jamieson Greer warned on Tuesday that a $3.4 billion European Investment Bank loan to Airbus could jeopardise the tariff truce between Washington and Brussels. He said his office had received no details about the financing, announced in June. European wholesale gas reached €97 per megawatt-hour on Monday, the highest since 2022, amid fears of Middle East supply disruption and reports of US-Israeli plans to strike Iran.

• Greer urged the EU to resolve the Airbus loan matter quickly.
• South Korea's economy grew 3.4 percent year-on-year, beating forecasts, driven by strong semiconductor demand.
• Audi said it will spend $4bn on a factory in Macon, Georgia, creating 4,500 jobs.
• A US tariff pause is adding unease for American cattle ranchers while boosting beef imports from Brazil.