The Success of Electric Vehicles Hinges on Batteries
Electric vehicles (EVs) currently make up just 1% of the global automobile market, but the number is expected to increase rapidly. Within four years, analysts predict that one in four cars in china and 40% of those in Germany will be electric. In the US., as in other countries, sales of EVs have soared in 2021, breaking records even during a global chip shortage and ongoing supply issues. Experts expect up to 230 million EVsin use globally by the end of the decade, accounting for 12% of all cars.
Read full storyHow China’s Stranglehold on Tech Could Backfire?
The Chinese government recently announced a campaign to regulate its internet companies. The severity and capriciousness of the proposed regulations sent markets into a tailspin—the week of the announcement, Chinese stocks listed in the U.S. lost more than $150 billion in value.
Read full storyWhat to Expect From the Post-Covid Economy?
Observing past pandemics can help us to anticipate what the current pandemic may bring. In the aftermath of adversity such as the Black Death, the Spanish flu, SARS outbreaks, Ebola outbreaks, and Zika, economies often repeated patterns we're seeing today. The first thing that happens during an epidemic is that people tend to accumulate savings (much like they have since our current pandemic began) when the world hunkers down and spending opportunities disappear. The second is that when people start spending again when life is getting back to normal, the economy recovers remarkably quickly. The third is that the economy after a crisis looks very different from the economy before it.
Read full storyTaliban agreed to allow “safe passage” from Afghanistan for US civilians
One-liner: According to President Joe Biden's national security adviser, the Taliban have agreed to allow civilians attempting to join a US-directed airlift from the capital "safe passage," though a timetable for completing the evacuation of Americans, Afghan allies, and others has yet to be worked out with the country's new rulers.
Read full storyWildfires blaze throughout Northern California causing destruction
One-liner: Northern California wildfires that razed two mountain villages raged on Wednesday in the Sierra Nevada, as a utility intentionally blacked out up to 51,000 customers to prevent fresh blazes.
Read full storyTarget posts strong growth, the online sales slowdown
One-liner: Target’s streak of strong results extended into its latest quarter but its skyrocketing online sales growth has lost some steam. Relevance: The growth of any business during the pandemic will be invariably characterized by some degree of volatility.
Read full storyBusinesses Brace for a New Normal of Extreme Weather
Heatwaves, droughts, wildfires, and flooding are ravaging broad regions across the planet. Even more worrisome: Scientists didn’t see this coming—at least, not like this. While established climate models have correctly predicted the rate of the planet’s warming, they’ve underestimated the intensity and frequency of the extreme weather events it would cause.
Read full storyCurrent US budget deficit hits high of $2.54tr
One-liner: The US budget deficit hit $2.54tr for the first 10 months of this budget year, as a result of spending to support the country facing a pandemic-induced recession. Relevance: The effect of the pandemic on global economies has been profound, and even the US economy which emerged strongly from the initial effects, is showing signs of wear.
Read full storyDisney profits rise as its theme parks reopen
One-liner: The Walt Disney Co. swung to a profit in its most recent quarter as reopened parks provided a revenue bounce. Relevance: Walt Disney Co. is one of the largest names in the entertainment industry, particularly with its acquisition of Lucas Films and Marvel in recent years. While it is good for Disney it is also reminiscent of the times where monopolistic practices dominated Hollywood.
Read full storyDemocrats’ $3.5tr budget makes it past the gates
One-liner: Democrats pushed a $3.5tr framework for bolstering family services, health, and environment programs through the Senate, advancing President Joe Biden’s vision for reshaping federal priorities, close at the heels of the infra bill.
Read full storyBiden shut out any revisions to US army departure strategy from Afghanistan
One-liner: President Joe Biden has ruled out any changes to the US troop withdrawal plan from Afghanistan, despite the Taliban seizing control of huge swathes of the war-torn country, saying Afghan authorities must band together and fight for themselves and their country.Relevance: Despite being greatly outnumbered by the Afghan military as US forces withdraw from Afghanistan, the Taliban has achieved battlefield gains. Over the weekend, the Taliban seized five provincial Afghan capitals.
Read full storySEC’s chairman seeks more regulation for crypto
One-liner: The chairman of the Securities and Exchange Commission said that investors need more protection in the cryptocurrency market, which he contends is rife with fraud, scams and abuse.
Read full storyMessi’s Barcelona contract ends, becomes free agent
One-liner: Lionel Messi was officially no longer an FC Barcelona player on Thursday, as his contract with the Spanish club ended on June 30. Need to know: The expiration of the contract came 16 years after the Argentine forward signed his first professional contract with the club.
Read full storyRobinhood Financial to shell out $70mn to settle charges
One-liner: Robinhood Financial will pay nearly $70mn to settle a wide range of allegations, including that it gave customers misleading information and improperly allowed some users to make riskier trades after they lied about their trading experience.
Read full storyUnited orders 270 jets in anticipation of growth
One-liner: United Airlines stated it is ordering 200 Boeing Max jets and 70 Airbus planes so it can replace some of its aging planes and grow after the pandemic eases. Speculated prices: At list prices, the deal would be worth more than $30bn, although airlines routinely get deep discounts, sometimes more than half, according to analysts. United declined to disclose terms.
Read full storyChina’s Didi to make debut on US stock market
One-liner: Chinese ride-hailing service Didi says it lost $5.5bn over the past three years ahead of its US stock market debut but it remains optimistic in terms of its global reach and investments in electric and self-driving cars.
Read full storyAntitrust lawsuit against FaceBook dismissed as legally insufficient
One-liner: A federal judge on Monday dismissed antitrust lawsuits brought against Facebook by the Federal Trade Commission and a coalition of state attorneys general, dealing a significant blow to attempts by regulators to rein in tech giants.
Read full storyHow to Attract and Keep Workers in the New Economy
As the world resumes pre-pandemic activities and the economy picks up, businesses looking to bring workers back to the office are facing not only labor shortages but also a changed labor pool, in which employees have different expectations and priorities. In order to attract and retain talent, firms need to adjust the way they both hire and manage their employees.
Read full storyWarren Buffett resigns from Gates Foundation
One-liner: Warren Buffett is stepping down as a trustee at the Bill & Melinda Gates Foundation. Gates’ divorce: Bill and Melinda Gates announced last October that they were divorcing after 27 years of marriage, but they would run the Gates Foundation together, one of the largest charitable organizations in the world.
Read full storyUS, India kick off multi-domain wargame in Indian Ocean
One-liner: This involves the consolidation of a number of air defense systems for more effective operations. Need to know: Authorities say that as part of the exercise, the Pentagon has deployed its naval carrier strike group, led by the nuclear-powered aircraft carrier USS Ronald Reagan, and a fleet of F18 fighter jets and E-2C Hawkeyes.
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