Business News
U.S. import prices rebound, but trend still subdued
U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
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Why the U.S. Should Envy China’s Electric Bus Fleet
I write about electric vehicles on a regular basis. I eat my own cooking too.
We have a Tesla Model X as our primary vehicle. But the fastest-growing segment of electric transportation isn’t cars.
It’s electric buses.
Since 2013, the e-bus market has grown at a compound annual growth rate (CAGR) of more than 100%. Compare that with “just” a 60% CAGR for electric cars.
But if you want a good chance at catching an e-bus, you’ll likely need to visit China.
Eating China’s E-Bus Dust
At the end of 2018, there were 425,000 e-buses in use around the world. And 421,000 of those were in …read more […]
Business News
Macy’s shares sink as discounts to clear inventory hurt, tourism drops
Macy’s Inc cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory, sending its shares down as much as 18%.
Business News
Oil slumps more than 4% on weak global economic data, U.S. crude build
Oil prices sank more than 4% on Wednesday after global demand fears were revived by weak economic data from China and Europe and an unexpected build in U.S. crude inventories.
Business News
Ford extends warranty on 560,000 Focus, Fiesta models
Ford Motor Co said on Wednesday it was extending warranty on clutch and related hardware in 560,000 Focus and Fiesta cars that were reported to have had problems with their six-speed transmission.
Business News
Stocks, oil tank on growing signs of global slowdown
Equity markets tanked and oil prices fell sharply on Wednesday after a closely watched bond indicator pointed to the growing risk of a U.S. recession that was heightened by data showing Germany’s economy in contraction and China’s worsening.
Business News
Wall Street tumbles on rising fears of recession
Wall Street main indexes slid more than 2% on Wednesday, as a closely watched U.S. bond market indicator pointed to a renewed risk of recession following poor economic data from Germany and China.
Business News
Macy’s sinks as discounts to clear inventory backfire, tourism drops
Macy’s Inc slashed its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory, sending its shares down as much as 18%.
Business News
Trade tensions and a weaker yuan drive Chinese crypto demand, market players say
Trade tensions between the United States and China and a weakening yuan are boosting demand for cryptocurrencies among Chinese investors, market players from Asia to New York said.
Business News
U.S. import prices rebound, but trend remains subdued
U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
Business News
FCC chairman circulates order to approve Sprint, T-Mobile tie-up
Federal Communications Commission chairman Ajit Pai on Wednesday circulated a draft order that would grant approval to the $26 billion tie-up of T-Mobile Us Incand Sprint Corp.
Business News
Ford extends warranty on certain Focus, Fiesta models
Ford Motor Co said on Wednesday it is extending warranty on clutch and related hardware in certain of its Focus and Fiesta cars due to complaints related to the vehicles’ transmission from several customers.
Business News
Novartis says top R&D executives no longer at Avexis unit after test data manipulation
Novartis said on Wednesday the two top research & development executives at its Avexis unit were no longer at the company after some data from early testing of Avexis’s more than $2-million gene therapy Zolgensma was manipulated.
Business News
U.S. yield curve inversion highlights recession fears, Fed dilemma
When the U.S. Federal Reserve cut interest rates last month for the first time in more than a decade, it signaled that further reductions in borrowing costs might not be needed. Bond markets vehemently disagree.
Business News
China’s Tencent cautious after surge in quarterly profit
China’s Tencent Holdings , the world’s largest gaming company by revenue, warned on Wednesday of a difficult economic environment even as it reported a better-than-expected 35% jump in quarterly profit.