Ford Motor has dumped its plan to produce a three-row, all-electric SUV, citing an overcrowded market and consumers’ reluctance to pay premium prices for electric vehicles (EVs).
Tag: Economy
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SPOTLIGHT: BIGS GETTING BIGGER
Does Mars really like Pringles Potato Chips that much? Food conglomerate Mars Inc. is paying a whopping $36 billion for Kellanova, maker of the stackable potato chip, PopTarts, and Eggo waffles, among other snacks.
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SPOTLIGHT: CHINA’S ECONOMIC CRISIS
Various economic data released last week by China’s National Bureau of Statistics shows few bright spots, despite an array of government measures implemented in recent months to energize spending and investment.
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SPOTLIGHT: BIGS GETTING BIGGER
Hargreaves Lansdown, the U.K.’s largest investment management firm, is being sold to a consortium for the equivalent of $6.9 billion in the second-largest sale of a London-listed company this year.
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SPOTLIGHT: CHINA’S ECONOMIC DISTRESS: IS CHINA’S EXPORT BOOM TAPERING OFF?
In July, the value of China’s exports in dollar terms rose 7 percent, year on year, lower than June’s 8.6-percent increase and missing analysts’ forecasts of a 9.7-percent jump.
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TOP TREND 2023, OFFICE BUILDING BUST: DESPITE RECORD VACANCIES, NEW YORK CITY’S OFFICE BUILDINGS RISE IN VALUE
Even with a vacancy rate just below 25 percent, the assessed value of Manhattan’s office buildings has crept up from $202.3 billion to $204.8 billion since July 2020, when the COVID War sent workers home and market values sliding.
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TOP TREND 2024: EV GO FU
Despite a 32-percent plunge in sales in China, Honda Motor reported an 8.7-percent year-on-year gain in profits in its fiscal first quarter.
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SPOTLIGHT ON EUROPE: ECONOMIC DOWN TIME
Rising sales outside of Europe will offset an auto industry slump across the continent this year, German car parts manufacturer Continental AG said last week.
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INVESTORS BAIL OUT OF JAPANESE “CARRY TRADES”
The rising value of Japan’s yen currency is sending investors fleeing from an estimated $500 billion in “carry trades” that had been reliably profitable before the Bank of Japan (BoJ) raised its interest rate last week and strengthened the yen.
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SPOTLIGHT: BIGS GETTING BIGGER
Private equity firms have committed to $2 trillion worth of deals that they have not yet funded, data service Preqin reported.