Two Chinese carriers have been shipping more empty export containers than loaded exports out of the two biggest U.S. ports.
The top two carriers that transported more empty containers than loaded U.S. exports out of the Port of Los Angeles were OOCL and its Shanghai-based parent company, COSCO.
The risk that the Federal Reserve accidentally tips the U.S. economy into recession as it combats inflation is rising, according to JPMorgan Chase CEO Jamie Dimon.
“I’m simply pointing out that those are storm clouds on the horizon that may disappear, they may not,” Dimon said.
In the event that a recession does develop, the bank would “have to put up a lot more” for loan loss reserves, Dimon told reporters.
A slew of electric vehicle companies from Tesla to BYD in China have been forced to raise the prices of their cars and the cost of raw materials shoot up.
Analysts said some low-cost and smaller players could struggle and even be forced to cut models from their lineup.
Tesla and BYD are better positioned to weather rising prices due to their strong supply chains, the analysts said.
Uber has been granted a 30-month license to operate in London, according to Transport for London.
The move ends a years-long spat with the agency, which twice revoked Uber’s London license.
Agreement will see BP purchase a 49% stake in an offshore wind project proposed for waters off Japan’s coast.
The Japanese government is targeting 10 gigawatts of offshore wind by 2030.
In recent times, several firms have put together plans related to offshore wind in Japan.
Following an employee survey that showed Google staffers are increasingly unhappy about pay, executives were hit with a barrage of questions on the topic.
“It’s a very competitive market,” said Bret Hill, Google’s compensation and rewards head.
CEO Sundar Pichai told employees that executives are discussing changes to their long-held pay assessments.
Experts say the next Cold War might already have started.
The Russian invasion of Ukraine has posed a new challenge to a market recovering from the uncertainties of the pandemic.
In the longer term, the health of the market depends on where the crisis in Ukraine is headed next.
Apple is preparing a hardware subscription service for iPhones that could launch as soon as the end of this year, Bloomberg News reported on Thursday.
The move would represent the culmination of a longtime Apple investor desire to see the company sell its hardware as a subscription, which would boost recurring revenue and could lead to an increase in the stock price.
XPeng said Thursday it led an investment into a new $200 million fund along with high-profile venture capital players like Sequoia China and GGV Capital.
Rockets Capital will focus on “venture and growth stage investments in Smart EV industry value chain, clean energy, and frontier technology areas.”
The fund has already “entered into agreements” to invest in companies, XPeng said without disclosing any names.
Firefly Aerospace aims to make its second attempt to reach orbit with its Alpha rocket in the coming weeks, having received government approval to resume launch operations.
Private equity firm AE Industrial Partners last month acquired stake in Firefly from a fund run by Ukrainian entrepreneur Max Polyakov, who came under scrutiny for national security concerns.
Firefly also closed a $75 million fundraise led by AE Industrial Partners, which Markusic says means the company’s broader growth plan is “fully funded.”
