Results for: Business

Tesla’s new vehicle registrations in the European Union dropped by 15% in the first eight months of 2024, mirroring a broader decline in electric vehicle demand. While other automakers like Volvo and SAIC Motor saw growth, Ford’s sales also fell in the region. The European Automobile Manufacturers Association (ACEA) highlighted the challenges facing EV adoption, including a lack of charging infrastructure and a competitive manufacturing environment. The ACEA is calling for a review of the EU’s 2025 CO2 emission targets to avoid potential fines and job losses.

XPENG Motors, a leading Chinese AI mobility company, will be participating in the Paris Motor Show 2024, showcasing its latest innovations in intelligent and sustainable mobility solutions tailored for the European market. Key highlights include the next-generation Tianji XOS 5.4 operating system and advanced smart cockpit features, demonstrating XPENG’s commitment to expanding its global presence with AI-powered driving experiences.

The Airports Council International (ACI) World forecasts a significant 10% increase in global air travel for 2024, reaching a remarkable 9.5 billion passengers. This surge signals a complete recovery from the pandemic and signifies a robust future for the aviation industry.

Billionaire entrepreneur Mark Cuban has joined forces with Vice President Kamala Harris to address the issue of counterfeit goods from China impacting American businesses. Cuban highlighted the detrimental effects of knockoffs on small businesses, advocating for stricter measures to protect American companies from unfair foreign competition.

T-Mobile CEO Mike Sievert has reported strong initial sales for the iPhone 16, contradicting earlier concerns about lower demand. Despite the delay in the release of its AI features, Sievert believes the demand remains strong and customers are purchasing higher-end models, driving Apple’s sales.

Jim Kavanaugh, CEO of World Wide Technology, urges business leaders to be transparent with employees about the impact of AI on jobs, emphasizing that AI will disrupt some roles while creating new opportunities. He stresses the importance of education and embracing AI, echoing similar sentiments expressed by other industry leaders.

BWH Hotels has appointed Harry Dong as the new CEO and President for China, Mongolia, and Nepal. Dong, who brings over 16 years of experience with BWH Hotels, will lead the company’s expansion efforts in the region, building upon its existing portfolio of 10 hotels.

Euromonitor International’s upgraded Passport Sustainability platform provides businesses with valuable insights to track the performance of their sustainability claims, understand consumer sentiment, and craft effective strategies in a rapidly evolving green market. The platform covers 11 industries, 25 global markets, 50 product categories, and over 70 sustainability claims, revealing key trends like the rise of ‘clean label’ products and the growing popularity of B Corp certification.

Morgan Stanley analyst Adam Jonas reiterates his bullish stance on Tesla, emphasizing the crucial role of Elon Musk’s AI company xAI in propelling Tesla’s future in robotics, autonomy, and manufacturing. Jonas highlights the importance of training and simulation, areas where xAI’s vast computing power and talent pool benefit Tesla significantly. While Jonas expects Tesla to showcase advancements in its Full Self-Driving (FSD) technology at the upcoming Robotaxi Day, he tempers investor expectations by acknowledging the intense competition from rivals like Waymo.

SK Hynix, a key supplier of high-bandwidth memory chips to NVIDIA, saw its stock plummet by over 6% after Morgan Stanley downgraded the company, citing concerns about the deteriorating memory market. The analysts believe Samsung offers better quality and value, leaving SK Hynix in a tough spot for revenue growth and margins.