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☆ Gas prices are less of a factor behind consumers switching to EVs, Barclays says
▼ + stars: | 2023-10-06 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The Barclays study focuses on consumers purchasing Tesla EVs rather than other makes. "[I]n previous years, consumers who bought EVs were spending more on gas prior to their purchase than consumers in recent years," Zhu said. "This suggests that new EV buyers are willing to buy an EV even at lower levels of gas expenditure, and that EV demand will stay higher than before even if gas prices decline." "Our U.S. Barclays credit card data show consumers with lower gas expenditures are now more willing to buy EVs than previously," Zhu said. "In recent years, EV buyers were already spending less on gas prior to their EV purchase than EV buyers in previous years."

Persons: Joy Zhu, Tesla, Zhu, — CNBC's Michael Bloom Organizations: Barclays, U.S, EV, Volkswagen, Volvo Locations: Germany

☆ Ukrainian firms venture abroad for growth as war hits home
▼ + stars: | 2023-05-19 | by ( Olena Harmash | ) www.reuters.com time to read: +6 min

The ongoing conflict has prompted several Ukrainian firms to focus abroad to reduce their reliance on a shrinking home market and to tap into the millions of people who have left. Ukraine, which had a pre-war population of about 40 million, has seen its domestic economy turned upside down, with corporate investments and growth now rare. "Our choice was to go to Poland, mainly because Poland hosts now the highest number of Ukrainians who fled from the war." In September, 8.5% of all companies opened in Poland had Ukrainian capital, compared with 0.8% in January 2022. "The main goal is to grow abroad much faster than we planned for ourselves in the pre-war period," Vovk said.

[1/5] A demonstrator takes part in a protest against the shut down of the last three German nuclear power plants, in Berlin, Germany, April 15, 2023. An estimated 50,000 protesters in Germany formed a 45-kilometre long (27-mile) human chain after the Fukushima disaster from Stuttgart to the Neckarwestheim Nuclear Power Plant. One of the long-running movement's early successes came in the 1970s when it managed to get plans for a nuclear plant in Wyhl in western Germany overturned. It was a Greens-coalition government that introduced the country's first nuclear phase-out law in 2002. "The nuclear phase-out is a Greens project ... and all parties have practically adopted it," said Rainer Klute, head of pro-nuclear non-profit association Nuklearia.

Britain and Norway hiked rates by 25 bps each, the Swiss National Bank jacked up rates by 50 bps. The European Central Bank hiked rates by 50 bps a week ago. ClearBridge strategist Jeffrey Schluze said, European banking regulation since the global financial crisis has been more stringent than in the United States, making the outlook for European lenders relatively strong. While banking stocks have been battered globally, the S&P 500 is up 0.5% this month (.SPX), while Europe's STOXX 600 index down 3.2% (.STOXX). CHANGE IN TONEBefore the banking turmoil, markets were driven by one-way moves as high inflation pressured U.S. and European markets.

Western forces on Friday agreed increases to their military support for Ukraine, but Germany wavered on further EU tank deliveries despite mounting calls from Kyiv and fellow allies. He stressed that he intends for Berlin to be prepared if and when a decision is taken on Leopard 2 tanks. Ukraine has repeatedly asked for battle tanks from its Western allies, with Germany's Leopard 2 units being of particular interest. Ukrainian President Volodymyr Zelenskyy has insisted that receiving supplies of Western tanks must outpace another Russian attack. In the hours before the meeting, the Kremlin said that Western tanks for Ukraine would "change nothing" and would not stop Russia from achieving its goals, Reuters reported.

☆ International ETFs are surging to start 2023, but investors should brace for volatility
▼ + stars: | 2023-01-13 | by ( Jesse Pound | ) www.cnbc.com time to read: +4 min

"'We believe Asian markets are well positioned vs. developed markets as we expect China re-opening to be a key driver, which would benefit even Asia ex China markets," McCarthy wrote. Broadening that out even further, emerging markets in general are a favorite of many investment strategists. But emerging markets can be tricky for investors, and volatile. Another way for investors to play a recovery in emerging markets, with more dispersed currency and political risk, could be sector funds tied to commodities. "I can buy ETFs that have exposure to say BHP, Rio Tinto, Anglo American, Glencore," Sohn said.

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