Automakers in the U.S. and Europe will close plants this year as they deal with stiffer emissions targets, probable tariffs on imported parts and exported vehicles, and overcapacity in their production infrastructures in the face of price competition from lower-cost countries, primarily China, research and business consulting firm Gartner said in a new report.
Author: admin (Kendrick Williams)
TOP TREND 2023, SELF-SUFFICIENT ECONOMIES: APPLE IPHONE NO LONGER CHINA’S BEST-SELLING SMARTPHONE
Apple’s iconic iPhone is no longer China’s top-selling smartphone. It has fallen to third place as phones made by Vivo and particularly Huawei have overtaken it.
PENSION FUNDS TAKE A FLYER ON CRYPTO
Pension funds in Australia and the U.K. are dabbling in cryptocurrency stocks and derivatives, and employee pension systems in the U.S. also are going long on the digital currencies.
RICHEMONT’S LUXURY SALES CLIMBED IN DECEMBER
Richemont, the luxury conglomerate that owns 20 brands including Cartier and Piaget, saw fourth-quarter sales jump 10 percent, year on year, reaching €6.2 billion and signaling that two hard years for haute couture may be at an end.
BP DUMPS 4,700 WORKERS TO CUT COSTS, RESCUE SHARE PRICE
British energy giant BP is shrinking its payroll by about 5 percent, lopping off 4,700 workers as it reins in costs and tries to boost its sagging share price, which has persistently lagged behind those of Chevron, ExxonMobil, and Shell.
U.K. INFLATION TICKS DOWN, BOOSTING CHANCES OF INTEREST RATE CUT
In December, inflation in the U.K. eased back to 2.5 percent from 2.6 percent in November, the Office for National Statistics reported.
CHINA’S ECONOMY GREW 5 PERCENT LAST YEAR, BEIJING SAYS. REALLY?
After a mid-summer economic slump, Chinese officials rushed an array of stimulus measures that shouldered the GDP to the 5-percent growth target Beijing had set for 2024, the Bureau of National Statistics (NBS) reported.
TRUMP TO CHANGE THE CLIMATE OF CLIMATE CHANGE
Energy realism will make a comeback starting this week. It’s in the cards of President Donald Trump’s second go-around as President, and even California senses the jig is up.
TRUMP MEME COIN: FIRESTORM THIS WEEK, FIZZLE NEXT?
So a President-Elect Trump officially endorsed meme coin hit the crypto trading markets last week, just days before his inauguration.
U.S. BLACKLISTS CHINA’S “OPENAI”
The U.S. government has listed Zhipu, China’s most prominent developer of large language AI models, among the Chinese companies U.S. firms are forbidden to do business with. Several of Zhipu’s affiliated companies also made the list.