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☆ Israel Recovered the Bodies of 3 Hostages
▼ + stars: | 2024-05-17 | by ( Justin Porter | ) www.nytimes.com time to read: +1 min

Israeli forces recovered the remains of three Israeli hostages during an operation in Gaza last night, the Israeli military said today, but officials did not say where they were found. The Israeli military spokesman identified them as Amit Buskila, Shani Louk and Yitzhak Gelernter. The recovery of the remains highlighted a growing anxiety over how many hostages are still alive after seven months of war. Roughly 125 living and dead hostages remain in Gaza, including several U.S. citizens, according to the Israeli authorities. Separately, trucks of humanitarian aid began moving ashore into Gaza today through a temporary pier built by the U.S. military.

Persons: Amit Buskila, Shani Louk, Yitzhak Gelernter Organizations: U.S . Locations: Gaza

☆ China retail sales, investment data miss expectations in April
▼ + stars: | 2024-05-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — China reported data Friday that pointed to slower growth on the consumer side while industrial activity remained robust. Retail sales rose by 2.3% in April from a year ago, the National Bureau of Statistics said. That was less than the 3.8% increase forecast by a Reuters poll, and slower than the 3.1% pace reported in March. But fixed asset investment rose by 4.2% for the first four months of the year, lower than the 4.6% expected increase. Statistics bureau spokeswoman Liu Aihua pointed out that last year, the multi-day May 1 Labor Day holiday had included two days in April.

Persons: Liu Aihua, Liu Organizations: National Bureau of Statistics, China's Ministry of Commerce, Labor, Statistics, Oxford Locations: Huai'an, China, BEIJING — China

Trucks of humanitarian aid began moving ashore into Gaza early Friday via a temporary pier built by the U.S. military, the first supplies of aid to be sent into the enclave by sea in two months. But the new shipments of food and other supplies fall far short of what humanitarian groups say is needed to meet the staggering levels of hunger and deprivation in Gaza. U.S. officials and international aid groups have said that sea shipments can only supplement deliveries through land crossings, not replace them. The war-torn territory of 2.2 million civilians is more reliant than ever on humanitarian aid. The devastation after seven months of Israeli bombardment, strict Israeli inspections and restrictions on crossing points had already severely limited what could enter.

Organizations: U.S ., U.S, Pentagon Locations: Gaza, Israel, Rafah

☆ Latest shipping data reveals that mid-range retail is the new consumer price sweet spot
▼ + stars: | 2024-05-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Almost 80% of current freight orders received for peak season are for mid-range price items, the survey shows. Similar to last year, respondents expect less consumer appetite for luxury and aspirational luxury items imported. The world's second-largest ocean freight company, Maersk, recently told CNBC it expected a "normal" peak season. "There's nothing that indicates that it would be a slower peak season or a bigger peak season," said Charles Van der Steene, president of Maersk North America, in a recent interview with CNBC. "We believe in normalized peak season.

Persons: Eric Thayer, Robinson, Kuehne, Nagel, Noah Hoffman, Hoffman, hypersensitive, Charles Van der Steene, We've, John David Rainey, Rainey, Larry, Jon Gold, Nate Herman, Biden Organizations: US, Bureau, Bloomberg, Getty, CNBC, Chain Survey, National Retail Federation, American Apparel and Footwear Association, United National Consumer Suppliers, ITS Logistics, DHL, Uber Technologies, C.H, Maersk, Walmart, Uber, International Longshoremen's Association, ILA, United States Maritime Alliance, Brands Locations: of Los Angeles, Los Angeles , California, U.S, Panama, Maersk North America, East Coast, Gulf, East, North America, West, Coast

☆ U.S. Military Installs Temporary Pier in Gaza for Humanitarian Aid
▼ + stars: | 2024-05-16 | by ( Victoria Kim | ) www.nytimes.com time to read: +2 min

The U.S. military anchored a temporary pier on Gaza’s coast on Thursday, creating a point of entry for humanitarian aid for the enclave, where the flow of supplies through land borders has largely come to a halt since Israel began its incursion into Rafah last week. The aid will be loaded onto trucks that will begin moving ashore “in the coming days,” the U.S. Central Command said in a statement Thursday morning. U.S. officials had said last week that the floating pier and causeway had been completed, but that weather conditions had delayed their installation. An American ship loaded with humanitarian aid, the Sagamore, set off for Gaza from Cyprus last week, and the aid was loaded onto a smaller vessel that had been waiting for the pier to be installed. The United Nations will receive the aid and oversee its distribution in Gaza, according to Central Command, which said no U.S. troops would set foot in the territory.

Persons: Charles Q, Brown, “ It’ll, ”, “, that’s Organizations: U.S, Israel, U.S . Central Command, United Nations, Central Command, U.S ., Pentagon, Joint Chiefs, Staff, NATO Locations: Rafah, Israel, Gaza, An American, Cyprus, Brussels

☆ Middle East Crisis Temporary Pier Is Anchored in Gaza to Deliver Aid, U.S. Military Says
▼ + stars: | 2024-05-16 | by ( Victoria Kim | ) www.nytimes.com time to read: +4 min

U.S. officials had said last week that the floating pier and causeway had been completed, but that weather conditions had delayed their installation. An American ship loaded with humanitarian aid, the Sagamore, set off for Gaza from Cyprus last week, and the aid was loaded onto a smaller vessel that had been waiting for the pier to be installed. Aid groups say the devastation in Gaza after seven months of Israeli bombardment, strict Israeli inspections and restrictions on crossing points are limiting the amount of aid that can enter Gaza. The Pentagon has said that the pier could help deliver as many as two million meals a day. An aid group, World Central Kitchen, built a makeshift jetty in mid-March to deliver aid by sea to Gaza for the first time in nearly two decades.

Persons: Charles Q, Brown, “ It’ll, ”, “, that’s, Nadav Shoshani, Dan Dieckhaus, Rawan Sheikh Ahmad, Helene Cooper Organizations: U.S, Israel, U.S . Central Command, United Nations, Central Command, U.S ., Pentagon, Joint Chiefs, Staff, NATO, Israeli Navy, Division, Food, U.S . Agency for International Development Locations: Rafah, Israel, Gaza, An American, Cyprus, Brussels, Kerem

☆ The Unpunished: How Extremists Took Over Israel
▼ + stars: | 2024-05-16 | by ( Ronen Bergman | Mark Mazzetti | ) www.nytimes.com time to read: +1 min

The first documents the unequal system of justice that grew around Jewish settlements in Gaza and the West Bank. The second shows how extremists targeted not only Palestinians but also Israeli officials trying to make peace. IMPUNITYBy the end of October, it was clear that no one was going to help the villagers of Khirbet Zanuta. But occasional harassment and vandalism, in the days after the Oct. 7 Hamas attack, escalated into beatings and murder threats. So one day the villagers packed what they could, loaded their families into trucks and disappeared.

Organizations: West Bank Locations: Gaza, Khirbet Zanuta, West Bank, Hebron

☆ Egypt warns Israel of ‘dire repercussions’ over Rafah operation in Gaza
▼ + stars: | 2024-05-15 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +6 min

The official said that coordination between the two countries on the Rafah operation, which Egypt has publicly opposed, “didn’t go well. The top diplomats in both countries traded blame over the closure of the Rafah crossing as aid deliveries through the key land crossing halted. Rafah had been the entry point for nearly a quarter of the relief entering the Gaza Strip before Israel’s operation. Videos released by the Israeli military last week showed Israeli flags raised on the Palestinian side of the frontier. It is unclear how many troops Israel now has stationed across the border in Rafah.

Persons: “ didn’t, Israel, ”, ” Israel, Israel Katz, David Cameron, Annalena Baerbock, Sameh Shoukry, Katz, ” Shoukry, Shoukry, Egypt didn’t, Fatah, Abdel Kareem Hana Organizations: CNN, ” CNN, Street, Palestinian, US State Department, Israeli, Foreign, German, AFP, Getty, Israel Locations: Egypt, Israel, Gaza’s, Rafah, Gaza, Cairo

☆ Biden's EV tariffs may not be enough to stave off the threat of Chinese vehicles in the U.S.
▼ + stars: | 2024-05-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

Win Mcnamee | Getty ImagesDETROIT – President Joe Biden's plan to quadruple tariffs on China-made electric vehicles is unlikely to stave off the threat of more Chinese cars and trucks on U.S. roadways. Automotive and trade experts say the increased tariffs are a near-term protectionism act that may delay, but won't stop, Chinese automakers from coming to the U.S. with EVs. The EV tariffs, including other increases regarding battery materials, were among new tariff rates on $18 billion worth of Chinese imports. The quality and build of vehicles by Chinese automakers have gotten significantly better in recent years, as the Chinese government has subsidized their operations to grow domestic production. GM and others have found it hard to compete against budget and mainstream Chinese vehicles, including EVs.

Persons: Joe Biden, Win Mcnamee, Joe Biden's, It's, Dan Hearsch, Stellantis —, Warren Buffett, BYD, Morgan Stanley, Tim Hsiao, Lincoln Organizations: White, Getty, DETROIT, Communist, U.S . Automotive, Motors, U.S, — GM, Ford Motor, Chrysler, Warren, EV, Wall Street, China Association of Automobile Manufacturers, U.S . Vehicles, Lincoln Nautilus, Volvo, Biden Administration Locations: Rose, Washington , DC, China, Mexico, Americas, U.S

☆ The Pentagon is sending 2 Navy warships to protect the floating pier to bring aid to Gaza by sea
▼ + stars: | 2024-05-15 | by ( Konstantin Toropin | ) www.businessinsider.com time to read: +4 min

Read previewNavy warships will help protect the US military's soon-to-be-completed pier to deliver aid to starving Palestinians in Gaza, the Pentagon said Tuesday. Pentagon spokesman Maj. Gen. Pat Ryder told reporters at a briefing Tuesday that Navy ships will be part of the security plan for the operation. A Navy official told Military.com that the sea service is assigning two destroyers to the mission. But aid has been slow to come in through those routes either due to closures or heavy screenings by Israeli officials . At the beginning of April, Israeli forces conducted repeated airstrikes on a World Central Kitchen convoy of aid workers, killing seven.

Persons: —, Pat Ryder, Military.com, Roy P, Benavidez, Ryder, P Organizations: Service, Pentagon, Navy, Business, Israeli Defense Forces, Hamas, Maxar Technologies, Reuters, Army Locations: Gaza, Ashdod

☆ Live updates: Israel-Hamas war, Rafah invasion looms, Gaza aid crisis worsens
▼ + stars: | 2024-05-14 | by ( Heather Chen | ) edition.cnn.com time to read: +2 min

A damaged United Nations vehicle is seen in front of a hospital after a UN employee was killed in an attack on a vehicle in Gaza, according to Israeli media. The White House believes an Israeli ground offensive in Rafah would be a mistake and is “urgently” working toward a ceasefire, National Security Adviser Jake Sullivan said Monday. The Biden administration is urging Israel to connect their military operations to a “clear” end game for the war, Sullivan told reporters. Hamas treated in Turkey: Turkish President Recep Tayyip Erdogan said that "more than 1,000 Hamas members are currently under treatment" in Turkish hospitals. Aid ransacked: Israeli activists opposed to helping Palestinians in Gaza intercepted and ransacked an aid shipment.

Persons: Ali Jadallah, Jake Sullivan, Biden, Sullivan, Recep Tayyip Erdogan Organizations: United Nations, UN, Getty, Israel, American, CNN, National, State Department, Hamas, enclave's Health Ministry, West Bank, Palestinian Authority . United Nations Locations: Gaza, Anadolu, Gaza's, Rafah, Israel, Palestinian, Turkey, Turkish, Jordan

☆ Cramer says Ford and General Motors are big winners after Biden raises tariffs on Chinese imports
▼ + stars: | 2024-05-14 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

"Not only does this tariff protect American car companies from cheap Chinese electric vehicles, it also means that their regular vehicles — their regular cars and trucks and hybrids — will benefit, too," he said. But with Biden increasing tariffs on Chinese electric vehicles from 25% to 100% this year, automakers like Ford and General Motors have less to worry about. Biden will also raise tariffs on semiconductors, solar cells, masks and medical gloves as well as issue first-time tariffs on medical needles on syringes. Cramer also said Ford shares can go higher if the company can "curtail the immense losses in electric vehicles," which will be easier to do with these new tariffs. "The chief reason GM and Ford stocks sell at the bottom of the S&P 500 barrel is because of this existential Chinese threat," he said.

Persons: CNBC's Jim Cramer, Cramer, Biden, Becton Dickinson, Ford, China's Organizations: Biden, Ford, GM, General Motors, Texas Instruments, Owens, Minor

☆ The Battle for The Streets of New York
▼ + stars: | 2024-05-13 | by ( Dodai Stewart | ) www.nytimes.com time to read: +11 min

New York City streets and sidewalks have always been crowded, but it’s never been like this. But lately, New York City streets are teetering between lively and unlivable. Karsten Moran for The New York Times“I think this could be the catalyst for a streets renaissance in New York,” Janette Sadik-Khan, New York City’s former transportation commissioner, said in a recent interview. New York City’s population reached 8.8 million in 2020, and the New York region is now home to nearly 19 million people. Use this form to tell us what you think about the state of New York City’s streets.

Persons: it’s, Karsten Moran, ” Janette Sadik, “, ”, Susan Lee, William Notman, Jon Orcutt, you’re, —, Henry Hale Bliss, Bliss, James Nevius, George Rinhart, Damon Winter, Sadik, Yorkers who’ve, Ms, Khan Organizations: New, Lexington, Verizon, FedEx, The New York Times, Broadway, Getty, Yorkers, Brooklyn baseball, Midtown, Bike New, city’s Department of Transportation, Park West, Times, New York Times, Cycling Locations: New York City, New York, Manhattan, , New York, York, York’s, Midtown —, Bike New York, United States, Holland, Jackson, Queens, Bogotá, Stockholm, London, Paris, Europe, —

☆ This global stock could rally 140% on a hydrogen fuel boom, analyst says
▼ + stars: | 2024-05-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

WAH-FF 1Y line The number of hydrogen refueling stations, a key focus for Wolftank, has risen by more than 600% to 178 across Europe over the past decade. The company expects revenues from ongoing hydrogen projects to exceed 16 million euros in 2024, with projected figures for 2025 of around 18 million euros. "The company is seeing a great deal of customer interest in its hydrogen refuelling solutions," said Metzler analyst Guido Hoymann. Late last year, Wolftank was awarded a major hydrogen refueling station contract with a public transport provider near Lake Iseo in northern Italy. Last week, the company also revealed that it was awarded two further contracts totaling 6.7 million euros.

Persons: Metzler, Guido Hoymann, Wolftank, Patrick Speck, Miguel Lago Mascato, FactSet, — CNBC's Sophie Kiderlin Organizations: Wolftank, CNBC Locations: Austria, Europe, Germany, Italy, Lake Iseo, Emilia Romagna

☆ The US Army says it wants to recruit more psychological warfare 'nerds'
▼ + stars: | 2024-05-12 | by ( Cameron Manley | ) www.businessinsider.com time to read: +5 min

AdvertisementIn late 2021, the Army Special Operations Command leaders and special forces recruiters had a problem: they needed more enlistees for their Psychological Operations groups. Experts in persuasion and influence, psychological warfare, or PsyOp, soldiers don't often fit the stereotypical mold of an Army recruit. US Army via GettyThe video aims to recruit future PsyOps soldiers and show applicants what their jobs will entail." The US Ghost Army deceived the Germans using inflatable tanks, radio deception, disguises, and impersonations. This photo provided by the Ghost Army Legacy Project shows inflatable tanks in March, 1945.

Persons: —, they're, Steve Crowe Organizations: US Army, Service, Army Special Operations Command, Psychological Operations, Army, 8th Psychological Operations, Fort Liberty, Associated Press, US, Getty, Special Forces Recruiting Battalion, US Ghost Army, Ghost Army, National, AP Locations: Fort, Fort Liberty , North Carolina, China, Russia, Ukrainian, Crimea, Russian

☆ A New Jersey homebuilder who pays his workers over $100,000 wants young people to know construction can be a lucrative career that doesn't require college — and businesses are desperate to hire
▼ + stars: | 2024-05-11 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Bodei's family has been in the construction business for generations, so he'd seen how lucrative it could be to build and renovate upscale single-family homes in affluent suburbs. This story is available exclusively to Business Insider subscribers. Fewer construction workers means less — and slower — residential construction, which in turn leads to higher home prices. Mayra Beltran/Getty ImagesA labor shortage years in the makingThe US has faced a severe shortage of construction workers of all sorts for years. When the financial crisis crushed the housing market in 2008, the construction industry took a massive hit.

Persons: —, Michael Bodei, Bodei, he'd, it's, Sam Laureto, Mayra Beltran, haven't, Ken Simonson, Simonson Organizations: Service, Bodei, Business, Oaks, US, Associated Builders and Contractors, Associated, Contractors of America Locations: Morristown , New Jersey, Houston , Texas, South Florida

☆ Despite reasons for Ford's latest EV sales surge, there's a lot going right at the automaker
▼ + stars: | 2024-05-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Lower pricing due to softening demand helped April electric vehicle sales at Ford more than double, even as the automaker was shifting resources away from the money-losing unit. Despite the volume increases, Ford Model e saw losses widen in Q1 to $1.32 billion on just $100 million in quarterly sales. Ford's hybrid sales in April rose almost 60% to 17,997 units. We believe a buyback would be a catalyst for Ford stock just like it has been for General Motors , which announced its repurchase plan back in November. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Michael Ward, Ford's, BEV, Ford, Ward, Jim Farley, Jim Cramer, That's, We're, Jim Cramer's, Jim, Danielle DeVries Organizations: Ford, Freedom Capital, Ford Model, ICE, Ford Blue, Ford Pro, General Motors, CNBC, New York Locations: EBIT

☆ Big, Smoggy Bangkok Gets a Badly Needed Breath of Fresh Air
▼ + stars: | 2024-05-11 | by ( Richard C. Paddock | ) www.nytimes.com time to read: +1 min

For more than half a century, Thailand’s state-owned tobacco monopoly mass-produced cigarettes at a sprawling industrial estate in Bangkok. A steady stream of heavy trucks brought raw tobacco into the heart of the city and hauled millions of cigarettes away. But now, that cancer-inducing complex has given way to something completely different: green space that has brought a breath of fresh air to Bangkok’s congested, often smoggy center. The site — an expansion of the existing Benjakitti Park — includes a mile-long elevated walkway, as well as water-purifying wetlands, 8,000 new trees, pickleball and basketball courts, and a dog-walking zone. At sunset, as the heat of the day eases, it is often packed with visitors, many posing for selfies.

Organizations: selfies Locations: Bangkok

☆ Aid for Gazans Has Come to a Near-Total Halt
▼ + stars: | 2024-05-10 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

Southern Gaza is running dangerously low on essentials like food and medicine, after the flow of aid has come to a near-total stop — first closed off by Israel and then further restricted, officials say, by Egypt. It also temporarily shut down the other crucial southern crossing, known as Kerem Shalom, after a nearby Hamas attack killed four Israeli soldiers on Sunday. Egypt, where most of the aid to Gaza is collected and loaded, is resisting sending trucks toward Kerem Shalom, according to U.S. and Israeli officials. They believe that Egypt is trying to pressure Israel to pull back from its operation in Rafah. Egypt fears that the Rafah operation could push Palestinian refugees onto Egyptian soil — an outcome the country views as a national security threat.

Persons: —, Kerem Shalom Locations: Southern Gaza, Israel, Egypt, Gazan, Rafah, Gaza, Kerem

☆ Rivian, Lucid and other EV startups scramble to shore up cash and reassure Wall Street
▼ + stars: | 2024-05-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

In this article NKLARIVNLCID Follow your favorite stocks CREATE FREE ACCOUNTR1T trucks on the assembly line at the Rivian electric vehicle plant in Normal on April 11, 2022. Stock Chart Icon Stock chart icon Performance of Rivian, Lucid and Nikola stocks over the past year. Rivian reported $7.86 billion in cash, cash equivalents, and short-term investments to end March, with more than $9 billion in total liquidity. Lucid, for its part, ended the first quarter with approximately $4.6 billion in cash, cash equivalents and investments, with total liquidity of approximately $5.03 billion. Unlike Rivian and Lucid, Nikola is exclusively focused on commercial vehicles rather than ones to retail customers.

Persons: Brian Cassella, Tesla, Itay Michaeli, Rivian, Rivian's, Peter Rawlinson, he's, Rawlinson, " Rawlinson, LSEG, Nikola, Thomas Okray, Okray, Derek Jenkins, David Swanson Organizations: Tribune, Service, Rivian, Lucid Group, Nikola Corp, Wall Street, Citi, Saudi, Public Investment Fund, Wall, Lucid, Los Angeles Auto Locations: Normal, Illinois, Georgia, Normal , Illinois, Los Angeles , California, U.S

☆ The Chevy Malibu Was So Uncool It Was Cool
▼ + stars: | 2024-05-09 | by ( Jim Windolf | ) www.nytimes.com time to read: 1 min

If you asked a child to draw a car, the result would probably be something that looked like the Chevrolet Malibu. For decades, this dependable midsize vehicle was a stalwart of the American road. Because that kind of thing is no longer in demand, it came as no surprise when General Motors announced on Wednesday that it would discontinue the model as it shifts its focus to sport utility vehicles and electric cars. The Malibu never had the back-alley glamour of the Chevrolet Camaro or the brute force of the Chevrolet Impala. It was the ultimate normcore-mobile, made for a time when Americans were content to drive simple, gas-powered sedans, rather than rugged S.U.V.s, high-riding pickup trucks or electric vehicles that cruise along in near silence.

Organizations: Chevrolet, General Motors, Malibu Locations: Chevrolet Malibu

☆ The Chevy Malibu, the brand’s last sedan, will end production
▼ + stars: | 2024-05-09 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +1 min

CNN —The Chevrolet Malibu, the last sedan still sold by General Motors’ biggest selling brand, will end production this year, the company announced. Malibu production will end in November as the factory that builds it, the Fairfax Assembly Plant in Kansas City, Kansas, is reconfigured to build a new generation of the Chevrolet Bolt EV. Chevrolet stopped making its Mustang competitor, the Camaro, last year. The Malibu was introduced back in the 1960s as a more luxurious version of the Chevrolet Chevelle, called the Chevelle Malibu. The Malibu model line ended production in 1983 but was brought back again in 1997, and has been in production since then.

Persons: Ford, Jackson, Barrett Organizations: CNN, Chevrolet Malibu, General Motors, Fairfax Assembly Plant, Chevrolet Bolt, Motors, Chevrolet, Taurus, Malibu, Barrett, Getty, Cox Automotive, Honda Accord, Toyota Camry, Camry, GM Locations: Malibu, Fairfax, Kansas City , Kansas, United States

The pier and causeway, known as Joint Logistics Over the Shore or JLOTS, will ultimately be used by the US, its allies and aid groups to get aid into Gaza by sea from Cyprus. A defense official confirmed to CNN that the limitations on the pier system are accurate. Another potentially complicating factor is how Israel decides to proceed with its operation in Rafah, in southern Gaza, US officials said. The Israel Defense Forces have agreed to provide a wide security perimeter around the pier system and the aid operation. But the plan is for the IDF to remain at a relative distance as the aid is transported and offloaded onto the beach in Gaza, officials told CNN.

Persons: CNN —, JLOTS, Israel, ”, Roy P, Biden, Pat Ryder Organizations: CNN, American Navy, US, Naval, Israel’s Marine Data Center, Pentagon, UN, World, British, American, Armed Forces, Israel Defense Forces, IDF Locations: Gaza, Cyprus, Port, Ashdod, Rafah, “

☆ GM can regain market share in China after hitting 20-year low, executive says
▼ + stars: | 2024-05-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Reuss also touted the competitiveness of GM's Chinese joint venture partners such as Wuling Motors. GM's market share in China, including its joint ventures, has plummeted from roughly 15% as recently as 2015 to 8.6% last year — the first time it has dropped below 9% since 2003. DETROIT – General Motors believes it can regain market share in China after hitting a roughly 20-year low last year amid changing market conditions and increased domestic competition, GM President Mark Reuss said Thursday. The market declines have spurred questions on whether GM would exit China, as it has other underperforming markets in recent years. The automaker said Steve Hill, currently GM's vice president of global commercial operations, would succeed GM China President Julian Blissett, effective June 1.

Persons: Mark Reuss, Reuss, " Reuss, Mary Barra, Steve Hill, Julian Blissett Organizations: Hamtramck Assembly, Wuling Motors, GM, Buick, DETROIT –, Motors, JV, Financial Times, Car, U.S . GM's, Chevrolet, China Locations: Detroit, Hamtramck, Michigan, China, DETROIT, U.S . GM's U.S

☆ Less booze, more healthcare: How the spending habits of today's millennials compare to boomers 30 years ago
▼ + stars: | 2024-05-08 | by ( Madison Hoff | ) www.businessinsider.com time to read: +8 min

In the intervening 33 years, how young adults spent their money changed dramatically. Millennials are spending a lot more on healthcare and rented housingHealth insurance spending stands out between the average young adult in 1989 versus in 2022. Based on average data, young adults were spending roughly 60% more on apartments and other rented housing. Before adjusting 1989 data for inflation, young adults in 2022 spent 304% more on fresh fruits than young adults in 1989. Based on our analysis, the average young adult in 2022 was spending more on nonalcoholic beverages and less on alcoholic beverages than the average young adult in 1989.

Persons: —, Harry Met Sally, millennials, Gen Zers, Grace Hill, Gen Organizations: Service, Nintendo Game, Business, Bureau of Labor Statistics, Labor, BLS, Pew Research Center, CPI, Gallup Locations: Millennials

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