Volkswagen’s $700 million investment in Xpeng to jointly develop two electric cars for the Chinese market in 2026 is a strategic move for both companies. By spending time at Xpeng’s offices, Volkswagen staff are gaining valuable insights into the startup’s technology, particularly its driver-assist technology. This collaboration is crucial for Volkswagen’s presence in China, where
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In recent reports, it has been noted that China’s new property sales are remaining weak, indicating a potential downturn in the economy. This is further exacerbated by the decline in steel demand and production. These two factors are critical indicators of economic health, as the property market and steel industry are significant drivers of growth
The incident involving the faulty Starliner capsule from Boeing that led to two NASA astronauts being stranded on the International Space Station is nothing short of a major setback for both companies. After a series of glitches with Starliner’s propulsion system, NASA deemed it too risky for the astronauts to return home on the capsule
Travelers who have serious delinquent tax debts exceeding $62,000 may face significant travel restrictions imposed by the federal government. The IRS and Treasury Department are required by law to notify the State Department of individuals with such tax liabilities. Once this notification is made, the State Department may refuse to issue a new passport or
Prime Minister Keir Starmer is facing a tough challenge as he tries to fix the many deep-rooted problems facing the United Kingdom. He acknowledges that change will not happen overnight and that tough decisions need to be made to tackle issues such as overflowing prisons and long waiting lists for health services. In a speech
The recent volatility in the global financial markets has caught the attention of Brazil’s central bank chief, Roberto Campos Neto. He pointed out that the market may be pricing in less room for fiscal and monetary intervention in the future. This is a significant concern as it suggests that the market expects tighter policy measures
Remote work has become a significant trend in the U.S. labor market, emerging as a result of the Covid-19 pandemic. Economists are noting that this shift towards remote work is one of the most significant changes in the labor market over the past few decades. According to Nick Bunker, an economic research director at Indeed,
The JP 225 stock index has shown promising signs of recovery, reclaiming the losses it experienced in August. The index has displayed soft positive momentum for the past two days, reaching a three-week high of 38,421. This indicates a bullish potential in the market, with technical indicators pointing towards an upward trend. Despite a slight
The Bank of Japan’s deputy governor, Shinichi Uchida, emphasized the importance of stability in financial markets when considering interest rate hikes during a speech in Hakodate, Japan. Uchida’s remarks contrasted with the more hawkish comments made by Governor Kazuo Ueda the previous week when the BOJ unexpectedly raised interest rates. The recent sharp volatility in
The global markets are currently in a precarious state as investors are becoming increasingly worried about the possibility of stocks being overvalued. Despite a relatively solid earnings season, there is a prevailing sense of unease that seems to overshadow any positive news. Around half of the developed-market central banks have already started cutting interest rates,
The recent flash estimate for HICP inflation revealed an unexpected but marginal increase in headline inflation in July, rising to 2.6% from 2.5% in June. This uptick was influenced by a stronger energy sector, with energy prices rising by 1.3% year-on-year, compared to a mere 0.2% increase in June. The spike in petrol prices and
China’s manufacturing activity has continued to shrink for the third consecutive month in July, according to an official factory survey released on Wednesday. This ongoing trend has raised concerns about the need for Beijing to implement further stimulus measures to counteract the negative impact of a protracted property crisis and job insecurity on economic growth.