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In April, BYD—China’s leading maker of electric vehicles (EVs)—sold more cars in Europe than Tesla for the first time, seeing its sales on the continent soar 170 percent year on year. BYD sold 7,231 all-electric vehicles in Europe last month against Tesla’s 7,165.
Several major banks and financial institutions are stepping up their experiments with tokenizing stock shares and investment funds on blockchains, the digital ledgers that are said to be tamper-proof.
In April, Japan’s core inflation rate reached 3.5 percent, its highest since January 2023, as rice prices shot to record heights across the country.
In April, Britain’s consumer prices rose 3.5 percent, year on year, compared to 2.6 percent in March, posting the highest rate since January 2024 and the sharpest monthly increase since October 2022.
In 2024, China increased its investment in Europe for the first time in seven years, putting about €10 billion into a range of electric vehicle (EV) plants and battery factories in Hungary.
This month, business activity has fallen in Europe and Japan to a 17-month low, due in part to Donald Trump’s tariffs and the continued uncertainty surrounding them, The Wall Street Journal reported.
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
Federal job cuts continue under Elon Musk and the Department of Government Efficiency. Government contractors are seeing slowdowns in government spending and cutting staff due to reduced business. Booz Allen, which relies heavily on government contracts, will lay off 2,500 people.
During this year’s first quarter, registrations of new all-electric vehicles (EVs) shot up 28 percent across Europe and the U.K. due in particular to a jump in Germany, where sales more than doubled, the trade group ACEA reported.
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
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