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☆ New Zealand committed to cutting spending, PM Hipkins says
▼ + stars: | 2023-04-27 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, April 27 (Reuters) - The New Zealand government is committed to reducing spending even though severe weather events earlier this year caused asset damage of roughly NZ$9 billion ($5.51 billion) to NZ$14.5 billion, Prime Minister Chris Hipkins said on Thursday. “For our part, the government is committed to reducing our proportion of spending to dampen demand in the economy,” Hipkins said in a speech to the Employers and Manufacturers Association. New Zealand is already dealing with historically high inflation and the central bank has previously raised concerns that any boost in government spending could add to the inflation problem. Hipkins said his aim is to get government spending down to around the low thirties as a percentage of GDP. ($1 = 1.6343 New Zealand dollars)Reporting by Lucy Craymer Editing by Alasdair PalOur Standards: The Thomson Reuters Trust Principles.

☆ EU passenger car sales up 28.8% to over 1 million units in March, ACEA says
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: 1 min

April 19 (Reuters) - Passenger car registrations in the European Union rose 28.8% in March to more than one million units, the European Automobile Manufacturers Association (ACEA) reported on Wednesday. Battery-electric cars made up 13.9% of new registrations in the EU, up 2.5% from the same month last year. Plug-in hybrids are losing ground in the region, declining from a market share of 8.8% in March 2022 to 7.2% in March 2023, ACEA said in a press release. Meanwhile, petrol and diesel markets performed better than last year, up 18.6% and 11.8%, respectively, from last March, ACEA reported. Reporting by Victoria Waldersee; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ No, artificial vanilla flavoring doesn't come from beaver butts. Flavor scientists explain.
▼ + stars: | 2023-03-08 | by ( Rebecca Strong | ) www.businessinsider.com time to read: +9 min

It's a myth that artificial vanilla flavoring comes from castoreum extracted from beaver castor sacs. Flavor chemists explain that artificial vanilla flavor is made from synthetic vanillin. He said, many food companies use artificial flavors because extracting natural flavors from fruits and other plants is labor-intensive and expensive. For example, a chemical appropriately named "raspberry ketone" — which also occurs naturally in raspberries — is an essential component of artificial raspberry flavor. Scientists are still working out how to replicate these flavor volatiles, which is why artificial vanilla flavors tend to lack complexity.

☆ In EU car data tussle, insurers and others brace for delays, disappointment
▼ + stars: | 2023-02-16 | by ( Nick Carey | ) www.reuters.com time to read: +4 min

Companies in Europe and beyond are vying for control of the crown jewels of the connected car era, namely car manufacturers' data covering everything from driving habits, to fuel consumption and tyre wear which can be used to target cash-generating services. Although the EU is currently haggling over the Data Act, a draft law governing the use of consumer and corporate data, insurers and others are pushing for auto sector-specific regulation. A proposal is expected soon after the European Commission launched a consultation last year. Ten industry groups also wrote to European Commission President Ursula von der Leyen in January urging an end to "repeated delays". A spokesperson for the European Automobile Manufacturers Association (ACEA) said the Data Act would guarantee fair access to car data, so "additional legislation on access to in-vehicle data is unlikely to achieve more".

☆ U.S. House committee to hold aviation safety hearing
▼ + stars: | 2023-02-02 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 1 (Reuters) - A Federal Aviation Administration safety official, National Transportation Safety Board chair and head of the largest pilots union are among those who will testify on Feb. 7 before Congress. Associate FAA Administrator for Aviation Safety David Boulter, NTSB Chair Jennifer Homendy, Air Line Pilots Association President Jason Ambrosi, National Business Aviation Association CEO Ed Bolen and General Aviation Manufacturers Association CEO Pete Bunce are among the witnesses, the committee said Wednesday. Billy Nolen, the head of aviation safety, has been acting FAA administrator since April 1 when Steve Dickson left halfway through his five-year term. The Senate Commerce Committee has yet to schedule a hearing on President Joe Biden's FAA nominee who has drawn fire from Republicans. Last month, the FAA named two dozen experts to review Boeing’s safety management processes and safety culture.

☆ Europe's car repairers call for competition rules rewrite
▼ + stars: | 2022-12-16 | by ( Nick Carey | ) www.reuters.com time to read: +4 min

LONDON, Dec 16 (Reuters) - Europe's car repair and spare parts industry is calling for a rewrite of EU competition rules, arguing they allow carmakers and franchise dealers to disadvantage independent operators. The European Commission has recommended extending 2010's Motor Vehicle Block Exemption Regulation (MVBER) for five years when it expires in 2023, with some supplementary guidelines. Proponents of a rewrite say automakers restrict access to vehicle data, which can make repairs more expensive, while also dictating how repairs should be undertaken and with which parts. "However, the evaluation revealed that an update was necessary to reflect the importance that access to vehicle-generated data is likely to have as a factor of competition." "If the Commission has decided not to change the rules, we assume that the complaints made by the independent aftermarket were not sufficiently substantiated," a spokeswoman said.

☆ ‘Grave urgency’: Over 400 business groups plead with Congress to prevent rail strike
▼ + stars: | 2022-11-28 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

CNN —More than 400 business groups are calling on Congressional leaders to be prepared to prevent a freight rail strike that could start causing chaos in the economy as early as next week. The 449 business groups – which range from the Aluminum Association and the Beer Institute to the US Apple Association and the Window & Door Manufacturers Association – said this is a matter of “grave urgency” as even a short-term work stoppage would cause large problems. A rail strike could become a reality as early as December 9, causing shortages, spiking prices and halting factory production. They noted that the potential rail strike earlier this year caused “significant disruptions” for critical goods and products, including fertilizer, chlorine and other items, before the strike was averted with an 11th-hour tentative deal. “The uncertainty of rail service during this year’s protracted contract negotiation has created enormous anxiety.”

☆ Fact Check-No evidence titanium dioxide in face masks is dangerous to wearers
▼ + stars: | 2022-11-25 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Some face masks contain minute quantities of titanium dioxide, a mineral that has been flagged as a possible cancer risk when inhaled, but there is no evidence that mask users inhale it at all, or in harmful quantities. Experts told Reuters that some masks approved in the U.S. may contain small amounts of titanium dioxide. However, the study tested masks distributed in Europe and did not test whether mask users inhaled any particles. Although some face masks approved by the FDA can contain titanium dioxide, the study cited in online claims does not provide evidence that titanium dioxide is released from face masks or that face mask users can inhale titanium dioxide released from masks. Titanium dioxide has only been classified as a carcinogen by the European Chemicals agency under specific conditions.

☆ Japan auto lobby opposes plan to tax mileage of electric vehicles
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 17 (Reuters) - A Japanese automobile lobbying group "firmly opposes" a plan for mileage tax on electric vehicles (EVs), an official of the group said on Thursday, adding that it would slow electrification efforts. "We are firmly opposed to the hasty introduction of measures such as a mileage tax without public discussion," said Seiichi Nagatsuka, vice chair of the Japan Automobile Manufacturers Association. Suzuki said EVs, unlike gasoline vehicles, are not taxed at the driving stage through fuel taxation. He added that EVs are heavier than gasoline-powered vehicles, which have a large role in road damage. Speaking at a news conference, Nagatsuka called for extending tax breaks on low-emission cars to spur electrification as consumers battle inflation and endure longer waiting times for delivery their vehicles.

☆ Japan auto lobby opposes plan for mileage tax on electric vehicles
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Nov 17 (Reuters) - A Japanese automobile lobbying group "firmly opposes" a plan for mileage tax on electric vehicles, an official of the group said on Thursday, adding that it would slow electrification efforts. "We are firmly opposed to the hasty introduction of measures such as a mileage tax without public discussion," said Seiichi Nagatsuka, vice chair of the Japan Automobile Manufacturers Association. Japan's Finance Minister Shunichi Suzuki floated the plan among the ideas he mentioned in a parliamentary debate last month to tackle a severe financial situation. Reporting by Satoshi Sugiyama; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Japan to seek U.S. flexibility on EV purchase incentives, Kyodo reports
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Andrew KellyTOKYO, Nov 4 (Reuters) - Japan will ask the United States to be more flexible on electric vehicle (EV) purchase incentives for non-American carmakers, Kyodo news agency reported on Friday, citing unidentified government sources. The move follows a statement from South Korea's foreign ministry saying Seoul is seeking a three-year grace period on the U.S. Inflation Act to enable its automakers to continue receiving EV incentives in the United States. The law restricts tax credits for EVs to those assembled in North America. The Biden administration said in mid-August that about 20 models still qualify for tax credits of up to $7,500. The government will seek to make nearly completed cars exported from Japan eligible for the tax credits as long as the final process takes place in the United States, Canada, or Mexico, Kyodo said.

☆ Biden is threatening a windfall tax on energy companies, after he slammed them for 'war profiteering'
▼ + stars: | 2022-11-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

US President Joe Biden called on energy companies to boost production or pay a windfall tax. He said energy companies will have to boost output and refining capacity or face the consequences. Biden said energy companies are entitled to a fair return for work or innovation, but the profits this time are "so high, it's hard to believe." "A windfall profit tax might make for good soundbites, but as policy, it's bad for consumers. Ben van Beurden, the CEO of UK-based Shell, seems to agree with the view that energy companies should pay higher taxes.

Banknotes of Japanese yen are seen in this illustration picture taken September 22, 2022. Almost a quarter of Japanese manufacturers' production is carried out overseas, according to the latest trade ministry data. The weak yen drives up the cost of acquiring businesses overseas, although that could be less of a concern for many cash-rich Japanese firms. At the same time, the weak yen makes Japanese companies cheaper targets for foreign buyers. For retailers, the weak yen has been particularly painful, as it drives up costs, including for energy and food.

☆ Take a look at Tesla's 4 biggest rivals in China's booming, $124 billion electric-vehicle market
▼ + stars: | 2022-07-06 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +1 min

Tesla had the third-largest share in China's EV market from January to May, according to widely cited data compiled by EV Volumes. The US company, run by billionaire Elon Musk, currently holds 6.6% of the market in China, per EV Volumes. Unlike Tesla, China's domestic manufacturers do not exclusively produce EVs — they also produce diesel-run automobiles. The manufacturers are arranged from smallest to biggest market share in China's EV industry. The manufacturers' market shares reflect data from January to May, sourced from EV Volumes.

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