ReutersUPDATE 1-Seven EU states warn Commission against subsidy race with U.S.Seven European Union member states from the north and east of the bloc have written to Valdis Dombrovskis, vice president of the European Commission, to warn against a subsidy race with the United States, the Czech Finance Ministry said on Tuesday. The ministry confirmed an earlier report in Der Spiegel magazine that said the finance ministers of Estonia, Finland, Austria, Ireland, the Czech Republic, Denmark and Slovakia had written to Dombrovskis saying that too far-reaching financial support for companies “not justified by clear market failures” could lead to a dangerous “subsidy race”. Czech Finance Minister Zbynek Stanjura also said it would be wrong to “escalate a trade war with the United States”.ReutersChina’s BYD dreams big in auto powerhouse JapanChina’s BYD Co Ltd unveiled its first dealership in Japan on Tuesday, taking on one of the biggest challenges in its explosive global rise as it seeks to win over customers deeply loyal to their own auto industry. BYD, an acronym which stands for Build Your Dreams, has ambitious plans to open more than 100 dealerships in Japan by the end of 2025. But it faces a tough task in a country
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