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...And that will be how cars work. You just summon the car using your phone. You get in. It takes you to a destination. You get out....
...On Sunday, Tesla’s electric vehicles were included on a list of more than 70 car models that have been tested for data security compliance by a Chinese industry group....
...We start the week with a scoop on the growing clamour for a 24/7 New York bourse....
...car market....
...Hours earlier, a Chinese industry group said Tesla’s electric vehicles were among more than 70 cars that had been successfully tested for data security compliance....
...Lumping it in with the Mag 7 was a mistake....
...Tesla has already reported an 8 per cent fall in car sales in the first three months of the year compared with the same period in 2023....
...Data from research group Counterpoint shows that in the first six weeks of this year, Apple smartphone sales fell 24 per cent from a year earlier. Huawei sales, by contrast, were up 64 per cent....
...Over the past 12 months they have risen almost 24 per cent....
...It’s too early to say whether Xpeng’s flying car ends up a joke or not, but flying cars are already making a big buzz in China’s cyber space, even if they’re not yet available for the daily commute....
...In the last fiscal year, R&D costs were equal to 7.8 per cent of revenue, up from 3.3 per cent in 2014. But it has not been willing to fund a new supply chain for mass car production....
...These two categories make up 7 per cent of core services inflation and have rather scary-looking longer-term charts: There is still a case for optimism....
...The value of the country’s car exports jumped 74 per cent from a year earlier to $78bn, according to Chinese customs data....
...As much as $457mn in positions were liquidated in a 24-hour period, data from Coinglass showed. But this is more likely a symptom, not a cause, of the price moves....
...“The discussion we have seen around the uncertainties are legitimate, but the data that we have seen in the market has shown continued healthy growth,” IEA energy policy head Timur Gül said on Tuesday....
...Tesla’s share in China’s EV and hybrid market segment fell from 7.7 per cent to 6.6 per cent in the first two months of the year, according to the China Passenger Car Association....
...While sales are still rising worldwide, battery vehicles’ share of the market rose 2.8 percentage points to 15.8 per cent last year, compared with a 4.7 percentage point rise during 2022, according to data...
...The New York Stock Exchange is polling market participants on the merits of trading stocks around the clock as regulators scrutinise an application for the first 24/7 bourse....
...Here’s what else I’m keeping tabs on today: Economic data: S&P Global manufacturing purchasing managers’ index data is due for Japan, Australia, US, UK and Canada....
...Li Auto expects to deliver 76,000 to 78,000 cars in the current quarter, down 24 per cent from a previous guidance, according to an exchange filing on Thursday....
...The BoE data on Tuesday also showed that the share of gross mortgage advances for buy-to-let purposes fell by 4.9 percentage points year on year in the final quarter to 7 per cent, the lowest since 2010....
...While Microsoft said last week that AI demand had boosted sales at its Azure cloud platform by 7 percentage points in the first three months of the year, Amazon did not disclose how demand for the technology...
...“This would act as the first major test case for institutional holders to experience 24/7 instant settlement benefits of the blockchain with increased transparency and improved capital efficiency, at reduced...
...The decision came alongside plans for 7,500 job cuts as its new chief executive Hein Schumacher tries to deliver on his promise to turn around the performance of one of the world’s largest consumer goods...
...According to the data from the Bureau of Economic Analysis, US consumers spent less on cars, fuel and restaurants in the first quarter, but more on financial services and insurance....
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