The head of Spain's electricity operator REE downplayed Wednesday a recent report by the firm which warned of "severe" risks of power cuts linked to the "high" use of renewable energy in the country.

Elon Musk's xAI Holdings is in talks with investors to raise roughly US$20 billion in funding for his newly combined artificial intelligence start-up and social media business, Bloomberg News reported on Friday, citing people familiar with the matter.

The firm produces more than a third of all electric vehicle (EV) batteries sold worldwide, working with major brands including Tesla, Mercedes-Benz, BMW and Volkswagen.

China's manufacturing activity shrank in April after growing at its highest rate in a year the previous month, official data showed Wednesday, as Beijing fights an intensifying trade war with the United States.

President Donald Trump's administration will move to reduce the impact of his automotive tariffs on Tuesday by alleviating some duties imposed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from piling on top of other ones, officials said.

In 2024, Indonesia experienced a slowdown in inflation, reaching a record low of 1.57 percent. While this indicates price stability, it also signals the need for greater stimulus to sustain economic growth.

"The goal here is to bring back the high quality industrial jobs to the US. President (Donald) Trump is interested in the jobs of the future, not the jobs of the past," Bessent told reporters at a White House briefing.

Asian stock markets headed for a second straight week of gains on Friday and the dollar for its first weekly rise in more than a month as investors have welcomed an apparent softening of the White House stance on China, despite no signal of detente.

"The quarter has been impacted by significant market fluctuations. Our equity investments had a negative return, largely driven by the tech sector," Nicolai Tangen, head of the Norwegian sovereign fund, said in a statement.