Tesla, the global leader in electric vehicles (EV), is expected to announce yet another record-breaking quarter for EV deliveries. Despite falling short of its ambitious 2 million annual target, CEO Elon Musk’s price cuts and focus on the Chinese market have helped Tesla maintain its market dominance. However, as other automakers scale back their electrification
Economy
China’s industrial profits in November saw a significant increase of 29.5%, demonstrating a double-digit growth as overall manufacturing improved. This rise follows a 2.7% increase in October and a pickup in industrial output. The manufacturing sector’s positive performance contributed to the overall improvement, providing an optimistic outlook for the country’s economic recovery post-COVID. Despite the
North Korean leader Kim Jong Un has commenced the highly-anticipated Plenary Meeting of the 8th Central Committee of the Workers’ Party of Korea, according to state media KCNA. This meeting, which marks the end of a significant year for the country, aims to announce policy decisions for the upcoming year. The gathering of party and
Asian stocks are experiencing a broad rise as they track the rally from Wall Street. Investors are eagerly seizing the year-end optimism driven by expectations that the Federal Reserve will likely start cutting rates in March 2024. With few critical economic data releases scheduled between now and the end of the month, market sentiment continues
The holiday shopping period is a critical time for retailers, as consumers eagerly search for the best deals and bargains to make their purchases. In the United States, retail sales between November 1 and December 24 rose by 3.1%, according to a recent report by Mastercard. However, this growth rate fell short of both Mastercard’s
The recent data on the housing market reveals a continued recovery, as annual home prices in October experienced a rise. This growth is a positive indicator for the overall health of the housing market. The Federal Housing Finance Agency (FHFA) report showed that home prices grew by 6.3% on a yearly basis, surpassing the previous
Ethiopia’s financial woes continue to deepen as it becomes the third African nation to default on its international government bond in three years. The country failed to make a $33 million “coupon” payment, leading to its formal declaration of default. This default comes on the heels of the immense challenges posed by the COVID-19 pandemic
Bank of Japan Governor Kazuo Ueda is facing criticism for his communication style that has been confusing markets and raising concerns about an imminent exit from ultra-loose monetary policy. Former BOJ board member Takako Masai has expressed her dissatisfaction with Ueda’s comments and the impact they have had on market expectations. Ueda’s remarks in parliament
In a bid to maintain price stability amidst the looming threat of dry weather and rising inflation, Philippine President Ferdinand Marcos Jr. has given his approval for the extension of reduced tariffs on rice and other food items until the end of 2024. This decision comes as a response to the current economic conditions and
The Bank of Japan (BOJ) Governor Kazuo Ueda stated on Monday that the likelihood of achieving the central bank’s inflation target is gradually increasing. This signals a potential change in policy if the prospects of sustainably achieving the 2% target continue to improve. Ueda’s remarks provide the clearest indication to date on the possibility of
Russia’s central bank, led by Governor Elvira Nabiullina, is cautiously considering interest rate cuts to stimulate economic growth. However, Nabiullina emphasized that the bank would need two to three months of evidence showing a consistent decline in inflation before making any decision. In this article, we will analyze the central bank’s approach, scrutinize its handling
Russia is currently facing a significant labour shortage, with experts and research from the Russian Academy of Science’s Institute of Economics estimating a deficit of around 4.8 million workers in 2023. This shortage is expected to persist in 2024, posing a threat to the country’s economic growth. The depletion of the labour force can be