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☆ What Trump's election victory means for global investors — and why it's different to 2016
▼ + stars: | 2024-11-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +6 min

President-elect Donald Trump's return to the White House has sent ripples through global financial markets, with many investors looking to recalibrate their portfolios for a dramatically different policy landscape ahead. Higher Treasury yields mean higher interest rates for corporate borrowers. Trump's tariffs Perhaps the biggest concern for investors globally is Trump's campaign promise of aggressive new tariffs , including the potential for a universal 10% tariff on all imports and a 60% tariff on Chinese goods. However, some Asian nations might benefit if higher tariffs on China prompt manufacturers to relocate. Europe Most analysts agree that U.S. trade tariffs are likely to hurt Europe, with some companies able to navigate the challenges better than others.

Persons: Donald Trump's, Russell, Mislav Matejka, David Seif, Goldman Sachs, Gareth Leather, Macquarie, Aditya Suresh, Mark Diethelm, Diethelm, Emmanuel Cau, — CNBC's Michael Bloom Organizations: White, Republican, Trump, U.S, Nasdaq, Treasury, Nomura, Federal Reserve, Asia Capital Economics, Capital Economics, U.S ., Union, Morningstar, Logitech, Barclays Locations: Congress, Treasurys, Trump's, U.S, United States, Korea, Taiwan, China, Vietnam, Asia, India, Europe

☆ Solid-state batteries may yet catch up — but silicon anodes are winning the race to power EVs
▼ + stars: | 2024-11-05 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Silicon anodes vs. solid-state batteriesAnalysts say silicon anodes theoretically offer 10 times the energy density as graphite, which are commonly used in battery anodes today. Silicon anodes, for example, are known to swell significantly during charging, which reduces the battery's longevity. Especially in the West, advances in the area of silicon anodes [are] seen as strategic opportunity to catch up with China. Nonetheless, analysts remain skeptical about when solid-state batteries will actually make it to market. "However, there are significant technical challenges going to 100% silicon anode such as silicon expansion affecting the longevity of the batteries and currently there are several routes to produce silicon anodes," he added.

Persons: IDTechEx, carmakers, Venkat Srinivasan, Srinivasan, hasn't, Rory McNulty, McNulty, Georgi Georgiev, Georgiev, Taiwan's, Sila Nanotechnologies Organizations: Parc des, Chesnot, Getty, Mercedes, Porsche, GM, Center for Energy Storage Science, government's, government's Argonne National Laboratory, CNBC, EV, Benchmark Mineral Intelligence, Bloomberg, Fastmarkets, Toyota, Nissan, China's SAIC Motor Corp, ProLogium, Paris Locations: Parc, Paris, France, government's Argonne, Chicago, Siheung, South Korea, West, China, U.S

☆ Former Acting U.S. Trade Representative: Trump’s Tariffs Are a Terrible Idea
▼ + stars: | 2024-10-31 | by ( Miriam Sapiro | ) www.usnews.com time to read: +7 min

As a former acting U.S. trade representative who also served on the National Security Council, I’ve engaged in international economic policymaking firsthand. Trump’s main economic idea is to indiscriminately impose tariffs on U.S. trading partners, but it is American importers, exporters and consumers who will pay the price. When Trump last levied tariffs, the EU, Canada, China and other trading partners imposed their own tariffs in retaliation. While President Joe Biden left most of Trump’s tariffs against China in place, he managed to negotiate agreements that led to the easing of many retaliatory measures. As president, Harris would lead an economy that helps everyone, not just those at the very top.

Persons: you’re, it’s, you’ve, Kamala Harris, Donald Trump, I’ve, Harris, Shawn Fain, “, ” Harris, Harris ’, Trump, Smoot, Hawley, Mitch McConnell, “ I’m, Trump’s, Davidson, Joe Biden, Biden Organizations: National Security Council, United Auto Workers, Democratic Party, Republican, Foundation, European Union, Pennsylvania Farm Bureau, ”, Harley, EU Locations: Pennsylvania, Michigan, Wisconsin, America, China, U.S, EU, Canada

☆ Port strike could reignite inflation, with larger economic impact dependent on how long it lasts
▼ + stars: | 2024-10-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Port of Miami dockworkers strike near the port entrance and demand a new labor contract, on October 1, 2024 in Miami, Florida. One rule of thumb is that for each strike day, it takes nearly a week to get ports operating at normal levels. watch now"We think fears around the potential economic impacts are overdone," wrote Bradley Saunders, North America economist at Capital Economics. "Frequent shocks to supply chains in recent years have left producers more attuned to the risks of running low inventories. "There is little chance that the administration would risk jeopardizing its recent economic successes less than two months before a tightly-contested election," he said.

Persons: Giorgio Viera, Joe Biden, Taft, Hartley, Joseph Brusuelas, Andrew Hollenhorst, Bradley Saunders, Saunders, there's Organizations: Afp, Getty, International Longshoreman's Association, U.S . Maritime Alliance, Labor, RSM, Atlanta Federal Reserve, Citigroup, New, New York Fed, Capital Economics, ILA Locations: Miami, Miami , Florida, East, Gulf, U.S, United States, West Coast, New York, North America

☆ Harris and Trump want to make stuff in America again. That’s really hard to do
▼ + stars: | 2024-09-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

And it’ll be tough for either Vice President Kamala Harris or former President Donald Trump to turn that around if elected, no matter their grandiose campaign promises. Put together, such investments have resulted in a sharp pick-up in construction spending by manufacturers, according to government data. Manufacturing’s main pain points are sluggish demand and elevated interest rates, according to recent manufacturing surveys by the Institute for Supply Management and S&P Global. And, of course, there are issues specific to certain sectors of the manufacturing industry. It could get better, but it’s not clear whenIt’s not all doom and gloom for the manufacturing industry.

Persons: Joe Biden, Kamala Harris, Donald Trump, Biden, haven’t, hasn’t, Harris, ” Harris, Trump, ” Chris Williamson, ” Timothy Fiore, There’s, ” Lauren Goodwin, ” Organizations: Washington CNN, Act, Congress, Private, Manufacturers, Labor Department, Institute for Supply Management, P, P Global Market Intelligence, ISM’s Manufacturing, Survey, P Global, Boeing, Federal, New York Life Investments Locations: America, Pittsburgh, Savannah, China, Pennsylvania, Korea, North Carolina, Germany, Georgia

☆ Not just China, Trump 2.0 could spell trouble for U.S. allies as he doubles down on tariff talk
▼ + stars: | 2024-09-26 | by ( Dylan Butts | ) www.cnbc.com time to read: +4 min

Trump has said he would consider new tariffs on imports from the country at rates of 60% or higher. watch nowU.S. allies could become a key target of Trump's "America First" policy that is increasingly grouping European and Asian partners alongside rival China. "We have been treated so badly, mostly by allies ... our allies treat us actually worse than our so-called enemies," Trump said at a rally in Wisconsin earlier this month. Retaliation by other U.S. trade partners — whether that be via reciprocal, retaliatory tariffs, or other non-tariff measures — is a potential consequence of all of this," Marro said. Economist Stephen Roach also told CNBC that Trump's tariffs would hurt America's trade partners while only increasing the costs of goods for American consumers and manufacturers.

Persons: Donald Trump, Brandon Bell, Trump, We're, Nick Marro, William Pesek, CNBC's, Marro, Stephen Weymouth, Stephen Roach, William Reinsch, Scholl Organizations: Johnny Mercer Theatre, Getty, Republican, China, Global Trade, Economist Intelligence, Trump Presidency, Georgetown University, CNBC, Business, Center for Strategic, International Studies Locations: Savannah , Georgia, China, Pennsylvania, Korea, North Carolina, Germany, Georgia, German, American, Wisconsin, Taiwan, U.S, Japan

☆ Whooping cough cases are soaring. Can infecting people help test a better vaccine?
▼ + stars: | 2024-09-20 | by ( Brenda Goodman | Deidre Mcphillips | ) edition.cnn.com time to read: +8 min

Whooping cough cases climbing for decadesAs with many infectious diseases, cases of whooping cough dropped to unusually low levels during the pandemic as people limited social interactions and took other precautions to defend against Covid-19. In 2020, the US had about 6,000 cases of pertussis, and that number dropped even further in 2021 to roughly 2,000 cases. Whooping cough starts with symptoms that look a lot like a regular cold: a runny nose, sneezing, a low-grade fever and a tickly cough. That’s led to a hunt for better, more durable immunizations against whooping cough that also don’t cause as many side effects. In some ways, whooping cough is an ideal infection to test in human challenge models.

Persons: ”, Susan Hariri, Archana Chatterjee, Chatterjee, they’re, it’s, pertussis –, Hariri, Tod Merkel, Merkel, It’s, That’s, Dr, Sanjay Gupta, Melinda Wharton Organizations: CNN, US Centers for Disease Control, CDC’s National Center, Food and Drug Administration, Chicago Medical School, Products Advisory, Covid, FDA’s, Vaccines Research, Regulators, CNN Health, FDA, National Center Locations: United States, Canada

SKIP AHEAD What to buy during Labor Day sales | What Labor Day sales to skip | When do Labor Day sales start? One of the categories experts recommend watching for the strongest Labor Day sales is summer clothing and shoes. Labor Day sales typically end once the holiday is over or the day after, says Shand. Expert shopping tips: How to make the most of Labor Day salesTo prevent yourself from making impulse purchases and overspending while shopping Labor Day sales, keep the following expert tips in mind. For this article, I interviewed three experts about what to shop during Labor Day and what sales to skip.

Persons: Bella Gerard, ”, You’ll, Mackenzie Shand, Vipin Porwal, Gerard, Shand, “, it’s, It’s, you’ll, isn’t, TikTok Organizations: Labor, NBC, Manufacturers, Labor Day, Target, Walmart, Home, Amazon Prime, Amazon, Facebook, Twitter Locations: Rakuten

☆ Two men plead guilty to helping send electronics found in weapons to Russia
▼ + stars: | 2024-07-10 | by ( Jack Forrest | ) edition.cnn.com time to read: +3 min

A co-defendant in the case, Kristina Puzyreva, pleaded guilty in February to conspiracy to launder the proceeds of the export scheme, prosecutors said, and she now awaits sentencing. Authorities seized around $1.68 million dollars in connection with the scheme, prosecutors say. The components the trio sourced have been found in seized Russian weapons that included guided missiles, helicopters, unmanned aerial vehicles and battle tanks, with some of the components needed for Russia’s precision-guided weapons systems being used against Ukraine, according to prosecutors. “The defendants were aware of the potential military applications of the electronics that they exported to Russia,” prosecutors said in the release. “Goltsev responded, ‘happy holiday to you too my friend, we are defending it in the way that we can [smile emoji].’”CNN’s Devan Cole contributed to this report.

Persons: Salimdzhon Nasriddinov, Nikolay Goltsev, “, Lisa Monaco, “ Mr, Goltsev, ” Todd, Kristina Puzyreva, Ivan J, Arvelo, Nasriddinov, ’, “ Goltsev, ‘, ” CNN’s Devan Cole Organizations: CNN, of, Nasriddinov, SH Brothers Inc, SN Electronics Inc, United, United Arab Emirates, Homeland Security Investigations, York, Authorities, Fatherland, Soviet Union Locations: Montreal, Russia, Ukraine, Eastern, of New York, Brooklyn, Turkey, Hong Kong, India, China, United Arab

☆ Can Biden Win America’s Green Tech Trade War With China? - The New York Times
▼ + stars: | 2024-05-22 | by ( David Wallace-Wells | ) www.nytimes.com time to read: +3 min

On May 14, President Biden announced a major escalation of the country’s emerging climate trade war with China, raising existing tariffs on Chinese electric vehicles to 100 percent — a unilateral quadrupling. A few days earlier, responding to reports of Biden’s plans, Donald Trump outdid him, promising tariffs of 200 percent should he win the 2024 election. Five years after blasting Trump for imposing tariffs on Chinese exports, Biden raised them — on aluminum, steel, lithium batteries, solar cells and semiconductors, among other products. In 2019, Chinese E.V. Nearly 60 percent of all the world’s E.V.s are now sold in China, which is home to three of the world’s four biggest E.V.

Persons: Biden, Biden’s, Donald Trump outdid, It’s, “, Gaia, David Autor, Tesla, BYD Organizations: Trump, Democratic Locations: China, U.S, Washington, Chinese

We recently got an in-depth look at how mattresses were made on a tour of the 3Z Brands factory in Glendale, Arizona. With the extra capacity, 3Z Brands also makes mattresses for other companies, including Nectar, GhostBed, Allswell, and Nest Bedding. Here's a detailed account of our tour of the 3Z Brands factory and a look into how mattresses are made, from sewing to packaging. AdvertisementConstructing the pocket coilsThe pocket springs found in hybrid mattresses arrive at the factory in huge coils. AdvertisementAssembling the mattressOnce the foam, pocket springs, and mattress covers are ready, it's time to assemble all the components together.

Persons: Brands, James Brains, 3Z, Jaclyn Turner, John Merwin, serging, Jaclyn, Stephen Light Organizations: Business, 3Z Brands, 3Z Locations: Glendale , Arizona, Brooklyn

☆ Solar Companies Seek New U.S. Tariffs on Asian Imports
▼ + stars: | 2024-04-24 | by ( Alan Rappeport | ) www.nytimes.com time to read: +1 min

A group of seven leading solar manufacturers filed trade complaints on Wednesday formally requesting that the Biden administration impose tariffs on solar products being exported from Southeast Asia into the United States. They come amid growing alarm within the U.S. solar industry that a flood of cheap Chinese green energy technology exports are pushing down prices of solar panels and threatening efforts by the Biden administration to develop a domestic solar supply chain. Chinese companies have been relocating production of solar products to neighboring countries to avoid existing tariffs, and U.S. manufacturers believe new trade measures are needed to protect their businesses. In the past year, the United States has imported $12.5 billion worth of solar products from those countries as prices of solar products have dropped by around 50 percent. The trade complaints are focused on imported solar cells, the parts of solar panels that turn light into electricity.

Persons: Biden Organizations: Department of Commerce, U.S . International Trade Commission Locations: Southeast Asia, United States, U.S, Vietnam, Cambodia, Thailand, Malaysia

☆ Solar manufacturers petition U.S. to impose tariffs on imports from four Southeast Asian nations
▼ + stars: | 2024-04-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

A coalition of U.S. solar manufacturers petitioned the federal government on Wednesday to impose tariffs on imports from four Southeast Asian nations, alleging that the countries are flooding the U.S. market with cheap products that threaten the domestic industry. The other six parties to the petition are Convalt Energy, Meyer Burger, Mission Solar, Qcells, REC Silicon and Swift Solar. They are requesting that the Commerce Department impose tariffs on solar cell imports from the four countries as a remedy. "This case is bad news for clean energy jobs and American solar manufacturing," Array CEO Kevin Hostetler said in a statement Wednesday. The ITC and Commerce Department investigations will take about 12 months to conclude, Brightbill said.

Persons: Meyer Burger, Tim Brightbill, Joe Biden, Brightbill, Kevin Hostetler, Janet Yellen, Biden Organizations: U.S, Convalt Energy, International Trade Commission, Commerce, ITC, Initiative, Commerce Department, Solar Energy Industries Association, American Clean Power Association, Advanced Energy, American Council, Renewable Energy, Technologies, International Energy Agency, IEA, CNBC Locations: Zhangye city, Gansu province, China, Cambodia, Malaysia, Thailand, Vietnam, U.S, The U.S, Beijing's

☆ Tesla could be volatile this week on earnings. Using options to mitigate the risk
▼ + stars: | 2024-04-22 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

I am a big fan of Tesla products and the company, but we do not currently own the stock. Since hitting its all-time high on Nov. 4, Tesla shares are the worst-performing member of the "Magnificent Seven". With prices running from about $40,000 for a single-motor version to $70,000 for a tri-motor variant, the Cybertruck's specifications were remarkable. China represents the largest market for EVs at the moment, and BYD is leading Tesla there. Among U.S. manufacturers, Tesla, because it eschews the conventional dealer model, has excellent flexibility on pricing, which they adjust dynamically.

Persons: Tesla, FSD, Warren Buffett's, Berkshire Hathaway, Charlie Munger, Elon Musk, General Motors, — Organizations: Nvidia, Elon, EVs, Ford, Toyota, South, U.S, Ford Motor, General, Tesla Locations: U.S, China, Tesla, Europe

☆ Supreme Court will take up the legal fight over ghost guns, firearms without serial numbers
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: +2 min

Illegal and ghost guns on display at the Attorney General Letitia James offices in Manhattan on March 15, 2023. The justices by a 5-4 vote had previously intervened to keep the regulation in effect during the legal fight. Ghost guns, which lack serial numbers, have been turning up at crime scenes with increasing regularity. The requirement applies regardless of how the firearm was made, meaning it includes ghost guns made from individual parts or kits or by 3D printers. The Supreme Court allowed the regulation to remain in effect while the lawsuit continues.

Persons: Letitia James, Luiz C . Ribeiro, District Judge Reed O'Connor, O'Connor, Donald Trump, O'Connor's, John Roberts, Amy Coney Barrett, Samuel Alito, Neil Gorsuch, Brett Kavanaugh, Clarence Thomas, Barrett, Gorsuch, Kavanaugh Organizations: New York Daily News, Tribune, Service, Getty, Biden, Justice, U.S, District, Alcohol, Tobacco, Firearms, Explosives, Circuit, Appeals, Trump Locations: Manhattan, New, Fort Worth , Texas

☆ How to check if your solar eclipse glasses are real
▼ + stars: | 2024-03-29 | by ( Ashley Strickland | ) edition.cnn.com time to read: +11 min

Otherwise, experts say it’s absolutely necessary to wear certified eclipse glasses or use handheld solar viewers that meet a specific safety standard, known as ISO 12312-2, when watching all other phases of a total or partial solar eclipse. And sunglasses won’t work in place of eclipse glasses or solar viewers. Counterfeit eclipse glasses with black lenses that have straight left and right edges from China (top) are printed with text copied from real eclipse glasses, but the counterfeit glasses are missing the company address. Meanwhile, real eclipse glasses from American Paper Optics (bottom) have reflective lenses with curved left and right edges. Never look through an unfiltered optical device of any kind in this situation, even while wearing eclipse glasses.

Persons: ”, Rick Fienberg, “, ” Fienberg, Ronald Benner, doesn’t, ” Benner, Benner, ‘ I’m, ’ Organizations: CNN, American Astronomical Society, NASA, Planetary Society, American Optometric Association, Astronomical Society, ‘, Optics, APO, Eclipse, Force, “, AAS Locations: Mexico, United States, Canada, China, U.S, Cangnan, Europe

Be on the lookout for new packaging, shop store brands, and keep track of the unit pricing to avoid losing money to shrinkflation. Buy store brandsStore brands typically have cheaper prices than the major brands that you find on store shelves. Think Kirkland brand at Costco or the store brands in Walgreens or Walmart. Because store brands are already generally the cheaper options, they will also be slower to repackage or downsize their products. For example, a 30-ounce jar of pickles that costs $8 would list a unit price of $0.27 per ounce.

Persons: Shrinkflation, Biden, shrinkflation, Kirkland Organizations: Costco, Walmart, Quicken Locations: Walgreens

☆ Judge rejects AstraZeneca’s challenge to Medicare drug price negotiations
▼ + stars: | 2024-03-01 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

A federal judge on Friday rejected AstraZeneca 's legal challenge to Medicare's new power to negotiate the prices of certain costly prescription drugs with manufacturers. The decision is another win for the Biden administration in a bitter legal fight with the pharmaceutical industry over the constitutionality of those price talks. The opportunity to sell drugs to more than 49 million Medicare and Medicaid beneficiaries is a "powerful incentive" for manufacturers to participate in the price talks with the government, Connolly wrote. The ruling comes a month after a federal judge in Texas tossed a separate lawsuit challenging the price talks. On March 7, Bristol Myers Squibb, Novo Nordisk, Novartis and Johnson & Johnson will present their oral arguments to a federal judge in New Jersey in the same hearing.

Persons: AstraZeneca, Biden, AstraZeneca's, Colm Connolly, Connolly, Johnson Organizations: U.S . Department of Health, Human Services, Washington , D.C, Manufacturers, Supreme, District, AstraZeneca, Chamber of Commerce, Bristol Myers Squibb, Novo Nordisk, Novartis, Johnson, CNBC PRO Locations: Washington ,, Delaware, Texas, Ohio, New Jersey

☆ Certain types of ‘forever chemicals’ will no longer be used in US food packaging, FDA says
▼ + stars: | 2024-02-28 | by ( Brenda Goodman | ) edition.cnn.com time to read: +3 min

CNN —Certain kinds of greaseproofing “forever” chemicals called per- and polyfluoroalkyl substances, or PFAS, will no longer be used in food packaging in the US, the US Food and Drug Administration announced Wednesday. The FDA’s food studies have shown that food packaging materials like fast-food wrappers, microwave popcorn bags and take-out pizza boxes were a major source of dietary exposure to certain types of PFAS, hormone-disrupting chemicals that may persist in the body and the environment. While health and environmental advocates cheered the new announcement, they noted that companies were already facing pressure from state bans to get PFAS out of consumer products, including food packaging. Chemicals called long-chain PFAS stopped being sold in the US due to safety concerns in 2011. Short-chain PFAS weren’t thought to build up in living organisms the way long-chain PFAS do, but research has shown that they may be metabolized into forms that linger in tissue.

Persons: ”, Leonardo Trasande, Melanie Benesh, ” Benesh, chemistries, Dr, Sanjay Gupta, Jim Jones, PFAS, Sandee LaMotte Organizations: CNN, US Food and Drug Administration, NYU Langone Health, American Chemistry Council, “ ACC, FDA, Get CNN, CNN Health, Chemicals, Manufacturers Locations: New York City

☆ US lawmakers are turning up the heat on Temu, Shein, and their use of a shipping loophole that helps keep their prices low
▼ + stars: | 2024-02-26 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

US lawmakers are ramping up their pressure on e-commerce platforms like Temu, Shein, and AliExpress. Representatives for Temu, Shein, and AliExpress did not return Business Insider's request for comment. It added that almost 50% of all de minimis shipments to the US come from China. Shipping consultancy ShipMatrix estimates that Temu and Shein each ship more than a million packages to the US daily. Brown and Scott are not the only US lawmakers to advocate for change as Temu and Shein have gained a foothold.

Persons: Joe Biden, Sherrod Brown, Rick Scott, Brown, Scott, AliExpress, spokespeople, Shein, minimis Organizations: Business, U.S . Customs, Border Protection, Customs, Temu, Chinese Communist Party, China . Shipping, Uyghur, Labor Locations: China, minimis, United States, mstone@businessinsider.com

Recent job cuts have been concentrated mainly in just a few sectors: technology, finance and media. Relative to the U.S. labor force of 160 million people, layoffs so far have been dwarfed by consistently vigorous hiring — a monthly average of 248,000 jobs added over the past six months. THE LAYOFFS ARE SPREAD OVER TIMEHigh-profile job cuts typically involve many layoffs that aren't implemented immediately. So they weren't included in the January jobs data that was released Friday because the layoffs hadn't yet taken place. Jobs cuts are deeply distressing and disruptive for people who suffer them.

Persons: they've, —, They're, That's, binges, Todd McKinnon, ” Organizations: WASHINGTON, Blockbuster, eBay, UPS, Spotify, Manufacturers, Labor Department, Companies Locations: Federal, U.S

☆ U.S. Whiskey Is ‘Collateral Damage’ in Trans-Atlantic Trade Fight
▼ + stars: | 2023-11-27 | by ( Kristina Peterson | Kim Mackrael | ) www.wsj.com time to read: 1 min

U.S. whiskey makers are bracing for an EU tariff that would retaliate for U.S. tariffs on European steel. Photo: Luke Sharrett for The Wall Street JournalBrooke Glover wants to ship her award-winning, West Virginia-made whiskey to Europe, where fans have been clamoring for a taste. But she has no plans to expand across the Atlantic just yet. Swilled Dog distillery is one of many American whiskey makers falling victim to a fight that has nothing to do with bourbon or rye. The threatened tariff is the European Union’s retaliation for U.S. tariffs on European steel and aluminum, which themselves were part of tougher trade measures designed to boost U.S. manufacturers.

Persons: Luke Sharrett, Brooke Glover Organizations: Wall Street, West Locations: West Virginia, Europe

☆ 3 reasons why electric cars will soon get a lot cheaper
▼ + stars: | 2023-11-23 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Some automakers are slowing down EV production, saying electric vehicles are too expensive. Auto execs have pointed to high prices as a big reason why demand for electric cars has slumped this year. AdvertisementHere's three reasons why electric cars are getting more affordable. Cheaper battery packsBy far the most expensive part of any EV is the battery, and spiking battery prices have hit automakers hard. "You have to get to a certain scale to really start to make money on electric cars and for the costs to go down," Valdez Streaty said.

Persons: —, Kelley, Tesla, Goldman Sachs, EVs, David Browne, Patrick T, Fallon, Browne, Matthias Preindl, Stephanie Valdez Streaty, it's, Valdez Streaty, Elon, you've Organizations: Service, Ford, General Motors, EV, Atlas Public, EVs, Bloomberg, Department of Energy, Smart, Toyota, Manufacturers, ICE, Columbia University, Smith, Cox, Chicago Tribune, Getty Locations: China, Germany, Los Angeles

But the major railroads hauled slightly fewer containers than a year ago and 11% fewer containers than four years earlier. The strong growth in manufacturing activity between the middle of 2020 and middle of 2022 was a rebound following the disruption caused by the first wave of the coronavirus pandemic and associated lockdowns. Since then spending has rotated back towards services and there has been little if any expansion in the manufacturing sector. Chartbook: U.S. manufacturing activityLack of growth is evident in industrial energy consumption. Three-quarters of all distillate fuel oils such as diesel are consumed in freight and manufacturing, according to data from the Energy Information Administration.

Persons: Andrew Kelly, Jobs, John Kemp, Jonathan Oatis Organizations: REUTERS, Federal Reserve, Bureau of Labor Statistics, Energy Information Administration, Thomson, Reuters Locations: IceStone, New York City , New York, U.S, Europe, China, doldrums

Strikes at car and truck plants are likely to have a widespread impact on manufacturing activity given their large supply chains. Energy consumption by industrial users steadied over the third quarter, which was consistent with the worst of the manufacturing downturn being over. The stabilisation of both diesel and industrial electricity sales in the summer was consistent with manufacturing activity steadying ahead of a renewed expansion. Because the industrial downturn has been long but shallow, distillate inventories remain well below the long-term seasonal average. Return to expansion would likely cause diesel stocks to deplete rapidly and put upward pressure on industrial prices quickly.

Persons: Andrew Kelly, John Kemp, Louise Heavens Organizations: REUTERS, Institute, Supply, Federal Reserve, Global, U.S, Thomson, Reuters Locations: IceStone, New York City , New York, U.S, Chartbook

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