News and my thoughts from the last week (01 Apr 2024) - EV, debts & strikes
BYD sees 7 millionth NEV roll off assembly line The 7 millionth vehicle is an updated Denza N7 SUV, which the premium BYD sub-brand will officially launch on April 1. - CNEVPost
Is inflation racing recession to see who reaches the economy first? Or should the question be: who is faster - the rate cuts or the recession?
Gen Z saw their credit card balances surge 62% between March 2022 and February 2024, according to Fortune, citing data provided by Credit Karma. - Yahoo Finance
Druckenmiller had 21.1% of his portfolio invested in two "Magnificent Seven" stocks. Nvidia accounted for 9.1% and Microsoft accounted for 12% of his invested assets. - Yahoo Finance
Embattled Chinese developer China Evergrande Group has filed documents to a court in the United States to withdraw its bankruptcy protection application. - YICAI Global
Consumer lending conglomerate Curo Group Holdings Corp. and affiliates filed for bankruptcy after failing to outrun a heavy debt load. Who is the next victim of debt? Which financial institutions and banks would follow? - Bloomberg
Debt is starting to claim victims. The US is working hard to take the lead - be it federal, corporate, or consumer debts. The country deserves better. - Reuters
From X User David Sommers - “One significant factor for debt issuance at these levels is the skyrocketing interest expense -- already at twice the annualized levels of early 2020 and possibly looking to head much higher.”
FedEx Express has 37 deactivated cargo aircraft, 17 more than in the third quarter, because of the soft demand environment. It will retire nine ageing MD-11 aircraft, as planned, in the quarter that ends May 31. - Yahoo Finance
Population crisis should hit us before the climate crisis. What are the plans in place?
It is a tragedy that this (Baltimore bridge collapse) happened and lives were lost. The ship has lost power twice. The maintenance will come under scrutiny as the insurance claims pile up. Prayers and thoughts for those affected. - CNA
Geely shows off. In a video, a test vehicle performs fully unmanned autonomous driving on snow and ice, as well as autonomous drifting, a performance that is comparable to that of a professional race car driver. - CNEVPost
Larry Fink joins Jamie Dimon and Jerome Powell in sounding the alarm on ‘snowballing’ national debt: ‘The situation is more urgent than I can ever remember’ - Fortune
My contemplation: What Chairman Powell says about rate cuts is political. What Chairman Powell does with interest rates is Federal. Both can coexist. Is the above possible?
Does the military complex prefer an endless war over a successful war?
Global air cargo volumes are up more than 10% for the first 2.5 months compared to the same period last year and the small package market is projected by some to grow about 4% per annum over the next three years. - FreightWaves
Chinese electric vehicle maker BYD has set a 3.6- million-unit sales target for 2024, a jump of 20% from its record-breaking sales last year. - Reuters
Members of a coalition of unions that represents more than 25,000 San Francisco city workers say a strike may be necessary to ensure city departments are properly staffed and workers are supported, with 9% unfilled positions from job listing. - Axios
US electrical grid would fail their citizens. What are the opportunities we have?
The Federal Reserve said on Tuesday that it officially saw a net negative income of $114.3 billion in 2023, a record loss tied to expenses related to managing the U.S. central bank's short-term interest rate target. - Reuters
There are US$17.4 billion in office loans maturing in the next 12 months, according to the report. Moody's deemed roughly US$13 billion of the amount, or three-quarters, as very difficult to refinance. - NST
UBS flagged on Thursday the downturn in commercial real estate markets as one of the "top and emerging risks" facing the Swiss bank, as higher borrowing costs and a post-pandemic slump in demand for office space hit the sector. - Yahoo Finance
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