Bank of England MPC member Mann said in June upside risks to inflation outweigh downside risks to economic activity.

Tesla (TSLA.O) shares extended losses to about 5%.

China on July 2 approved and published three mandatory national standards setting energy‑consumption limits and efficiency thresholds across the photovoltaic value chain. The Ministry of Industry and Information Technology, jointly with the National Development and Reform Commission and SAMR, issued: Energy Consumption Limit per Unit Product for Monocrystalline Silicon; Energy Efficiency Limit Values and Efficiency Grades for Crystalline Silicon Photovoltaic Modules and Inverters; and Energy Consumption Limit per Unit Product for Polysilicon and Germanium. The standards cover key links including polysilicon, wafers, modules and inverters, impose graded energy and efficiency metrics to curb high‑energy, low‑efficiency capacity, and introduce a coupled environmental‑stress degradation rate metric for modules. Industry bodies will accelerate promotion and implementation. Authorities say the rules aim to strengthen China’s PV industry competitiveness and support the country’s green low‑carbon transition and dual‑carbon targets.