Since 2012 Tesla has made several billion dollars in emissions offset credits sold to other automakers, with FCA having bought the lion’s share of those. According to a report from Reuters, the automaker formerly known as Fiat Chrysler Automobiles N. V. purchased around $2.4 billion in European and U.S. CO2 credits from Tesla just in the period from […]
Discover what’s driving the global economy and what it means for policy makers, businesses, investors and you with The New Economy Daily. Sign up here Signs of inflation are picking up, with a mounting number of consumer-facing companies warning in recent days that supply shortages and logistical logjams may force them to raise prices. Tight […]
Goodyear Tire & Rubber CEO Rich Kramer told CNBC Tuesday that he doesn’t expect a looming shortage in rubber to hurt the tire manufacturer. Concerns over a low supply of rubber, made from rubber trees mostly grown in Southeast Asia, is the latest problem facing automakers already struggling with a lack of semiconductors. When asked […]
Treasury Secretary Janet Yellen conceded Tuesday that interest rates may have to rise to keep a lid on the burgeoning growth of the U.S. economy brought on in part by trillions of dollars in government stimulus spending. “It may be that interest rates will have to rise somewhat to make sure that our economy doesn’t […]
Stock futures slipped in early morning trading on Tuesday after a strong start to May as investors piled into shares that would benefit the most from an economic reopening. Futures on the Dow Jones Industrial Average shed 46 points. S&P 500 futures and Nasdaq 100 futures both traded in negative territory. The move in futures […]
At a news conference today, Intel has announced that its Rio Rancho campus in New Mexico will be getting an investment of $3.5 billion USD for an expansion of its current state-of-the-art facilities for the company to roll out its new Foveros packaging technology in volume for its own products as well as its customers. […]
GUANGZHOU, China — Ether, the digital coin linked to the Ethereum blockchain, hit an all-time high of $3,456.57 as the cryptocurrency extends a rally that has seen its price gain around 360% this year. The digital coin pared some of those gains in Tuesday afternoon trade in Asia was trading at $3,271.90 at 12:12 p.m., […]
Investor Warren Buffett has confirmed that Berkshire Hathaway’s vice-chairman, Greg Abel, will succeed him as chief executive. Mr Buffett built Berkshire Hathaway from a failing textile maker into a $628bn (£452bn) investment juggernaut. Although he is 90 years old, Mr Buffett has given no indication he plans to step down. However, there has been speculation […]
U.S. Treasury Secretary Janet Yellen has insisted the Federal Reserve is able to handle any inflation that results from President Biden’s new spending bill, with critics worrying that the incredible amount of money spent will lead to countless problems in the economy. Biden has pushed forward plans totaling $4 trillion in taxes and spending, but […]
The chief executive of the biggest U.S. chip-maker, Intel Corp (INTC.O), said the company is going to curb its focus on buying back its own stock. “We will not be anywhere near as focused on buybacks going forward as we have in the past,” Intel Chief Executive Officer Pat Gelsinger said in an interview on […]
Two Carnival cruise ships returned to the Port of Galveston in Texas on Sunday.After over a year away, the return of the ships offers a glimmer of hope for the travel industry, which has taken a huge hit during the pandemic.The two ships, Carnival Breeze and Carnival Vista, arrived at the port at around noon […]
Back in February, Warren Buffett’s Berkshire Hathaway revealed that it sold 9.81 million shares of AAPL at the end of 2020. Speaking during the conglomerate’s annual shareholder meeting this weekend, however, Buffett acknowledged that this decision was “probably a mistake.” In February, Buffett explained that Berkshire sold a small portion of its AAPL stake at the end […]
