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BYD Co. led Chinese electric vehicle stocks lower in Hong Kong on Monday after slashing prices as much as 34%. The move sent shares of China's No. 1 selling car brand tumbling up to 8.3%.
In other news, a Winnipeg city councillor is calling for the rescinding of a civic award given to a local businessman due to his ties to the Israeli-Palestinian conflict. Coun. Sherri Rollins wrote an open letter to Mayor Scott Gillingham on Sunday about Ramsey Zeid, who accepted the Mayor's Business Improvement Zone Award in May.
Meanwhile, US investors in nations with tax regimes deemed unfair by the US would face higher tax rates under a proposed bill making its way through Congress. The move is seen as a "revenge tax" targeting countries that don't align with US tax policies.
Russia's economy is facing risks of "hypothermia," according to Economy Minister Maxim Reshetnikov, who urged the central bank to consider slowing inflation when setting interest rates next week. High interest rates have stifled investment in Russia despite soaring military spending.
The FBI has reopened and expanded investigations into several high-profile cases, including the discovery of cocaine in Joe Biden's White House and the leak of the Supreme Court's Dobbs v. Jackson opinion. The agency is doubling its efforts to examine "potential public corruption."
In Canada, a Prince Edward Island man was sentenced to five months in jail for voyeurism, which will extend his sentence for an unrelated sexual assault. Two teens were also sentenced for their roles in a fatal swarming attack outside an Edmonton high school three years ago.
Local councillors are calling for safety improvements at an intersection outside London, Ont., after four high school students and a teacher died following a crash on Friday. A motion was passed unanimously to conduct a traffic and roadway study of the intersection once the OPP investigation wraps up.
