China’s investment in its electric car industry has been substantial, with over $230.8 billion spent over a span of more than a decade. This massive government support amounts to 18.8% of total electric car sales between the years 2009 and 2023, as highlighted by Scott Kennedy, trustee chair in Chinese Business and Economics at the
Finance
The launch of a new program in New York offering homeowners up to $14,000 in rebates for energy-efficiency upgrades marks a significant shift in the landscape of home improvement initiatives. The program is part of the federal Inflation Reduction Act, which is the largest piece of climate legislation in U.S. history signed by President Joe
Ratings agency Fitch has adjusted its predictions for China’s policy rate, pushing back expectations for a reduction until next year. Initially, Fitch projected a cut in 2024, but now anticipates that China will maintain its one-year medium-term lending facility (MLF) rate at 2.5% for the rest of this year and reduce it to 2.25% in
Recently, British fintech firm Zilch made headlines with the announcement of a $125 million debt financing deal with German banking giant Deutsche Bank. This injection of capital is set to propel Zilch into a new phase of growth, enabling the company to triple its sales in the next few years and edge closer to an
Recent data released by the U.S. Bureau of Labor Statistics has revealed a positive trend for American workers – an increase in real hourly earnings. This means that the average worker in the private sector saw their wages grow by 0.8% from May 2023 to May 2024 after accounting for inflation. This increase in real
XReal, an Alibaba-backed startup, has recently launched a new Android mobile device called the Beam Pro that allows users to enjoy games and movies on Google Play Store apps in three dimensions when used with augmented reality (AR) glasses. This latest product is a significant step in the AR space, especially after Google retired its
Berkshire Hathaway, known for its investments in a wide range of companies, including its early stake in BYD, has once again decided to trim its holding in China’s biggest electric vehicle maker. This move comes after the conglomerate, led by Warren Buffet, recently sold an additional 1.3 million shares of BYD for $39.8 million. This
Starboard Value, an activist fund managed by Jeff Smith, has recently acquired a significant stake in Autodesk, a graphics-design firm. The fund has expressed concerns to the company’s board regarding the disclosure of an internal investigation that led to the removal of its chief financial officer. Starboard’s stake in Autodesk is estimated to be around
Investors seeking to mitigate concentration risk in the market might want to explore the potential benefits of value-oriented investments. According to Avantis Investors’ chief investment strategist, Phil McInnis, a diversified approach beyond traditional index funds like the S&P 500 could offer better long-term returns. By focusing on companies with low valuations and strong balance sheets,
In an era where corporate expenses are often misused and abused, one startup is aiming to revolutionize the way companies control their finances. CleverCards, a Dublin-based firm, has recently secured 8 million euros in funding to further develop its digital platform. This platform is designed to give businesses more control over how their employees use