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InterviewArtificial intelligence
BCG says AI consulting will supply 20% of revenues this year
...BCG, which started investing in its AI business in 2015, has about 3,000 employees in its BCG X technology and design division....
April 23, 2024
Mondelez International Inc
EU set to fine Oreo maker Mondelez for blocking cross-border sales
...Regulators can impose fines of up to 10 per cent of a company’s global turnover if they are found to have broken EU competition law. The commission declined to comment....
April 16, 2024
FT Live
Future of the Car
The technology and new business models shaping the next decade in automotive
Tuesday, 7 MaySancroft, Paternoster Square, London EC4M 7DQ, UK
LexElectric vehicles
Slumping EV sales should not ring alarm bells in Europe — yet Premium content
...But globally sales growth has also slowed. Tesla is cutting 10 per cent of its global workforce. Mercedes-Benz has pushed back its electrification target....
April 23, 2024
LexWinnebago Industries Inc
Thor/Winnebago: the wheels come off RV sales Premium content
...Overall, fewer than 300,000 RVs sales are expected this year. That is less than half the level in 2021 and about 40 per cent lower than last year’s sales....
June 21, 2023
Tesla Inc
Tesla to cut 10% of global workforce
...Tesla is cutting more than 10 per cent of its workforce — at least 14,000 jobs — as a worldwide EV slowdown and brutal price war hit the American automaker....
April 15, 2024
LexTesla Inc
Robotaxis are not the solution to Tesla’s problems Premium content
...Tesla is cutting existing vehicle prices in a bid to reverse the fall in sales and planning cheaper models next year. To reduce costs, it will lay off 10 per cent of its workforce....
April 23, 2024
FT Live
Innovation in Wealth Management Summit
Augmented intelligence for client-centric services
Thursday, 2 May9 Montague Close, London, UK
Tesla Inc
Tesla shares rise on plans to accelerate launch of ‘more affordable’ models
...per cent of its workforce — at least 14,000 jobs....
April 24, 2024
Tesla Inc
Tesla steers back towards cheaper cars
...“A sub-$10,000 BYD Seagull domestically is a clarion call.” He told the FT that Tesla “is acknowledging the reality of the challenge of Chinese pricing”....
April 25, 2024
Electric vehicles
IEA bullish on electric vehicle sales in 2024
...China dominates manufacturing, making more than half of all electric or plug-in hybrid cars, compared with just 10 per cent of traditional engine-driven vehicles....
April 23, 2024
Special ReportThe Americas’ Fastest Growing Companies
Its blockbuster cystic fibrosis treatment costs $300,000 a year. Now Vertex wants to solve the opioid crisis
...As such, it is not cheap: in the US, it costs $300,000 per patient, per year....
April 26, 2024
Tesla Inc
Tesla’s biggest problem: cars
...Of Tesla’s total quarterly sales of $21.3bn, 82 per cent were indeed “automotive revenues” while the rest were energy and services....
April 26, 2024
Drug prices
Copycats take bite out of AbbVie’s best-selling Humira drug
...This was driven by a surge in prescriptions of Sandoz’s Hyrimoz, CVS’s preferred biosimilar, which was given to more than 10,000 patients in the week ending April 12, pushing biosimilars’ share of new Humira...
April 25, 2024
Moral Money
Tesla share price surge highlights electric vehicle investors’ jitters Premium content
...These include market leader BYD, whose Seagull car sells for less than $10,000. Since 2022, Tesla has dropped the price for its Model Y sport utility vehicle by about $20,000....
April 26, 2024
Lex PopuliPersonal Finance
Athleisure shares appear out of shape
...Lululemon’s sales in mainland China were up 60 per cent year on year in the latest quarter on a constant currency basis, and now make up nearly a tenth of total sales....
March 29, 2024
LexDollar Tree Inc
America’s dollar stores are struggling Premium content
...Last week, Dollar Tree announced plans to close down nearly 1,000 — or 12 per cent of — Family Dollar stores....
March 19, 2024
FT Live
TNW Conference 2024 - The Next Web
Europe’s leading tech event for corporates, startups, investors and governments
Thursday, 20 JuneAmsterdam, Netherlands
News updates from April 15: US retail sales rise more than expected; Yen falls below ¥154 per dollar
Tesla to cut 10% of global workforce
...Tesla is cutting more than 10 per cent of its global workforce, potentially 13,000 jobs, as the worldwide electric vehicle slowdown and brutal price war hit the US automaker....
April 15, 2024
Financial services
How’s the PE Winter looking?
...Last year, 80 per cent of exits were sales to corporate buyers ($271bn). The next most popular exit was sales to other PE firms ($62bn)....
April 25, 2024
Exchange traded funds
Flows to European ESG exchange traded funds halve in first quarter
...At the end of March, assets under management in European ETFs stood at €1.81tn, up 10 per cent on the previous quarter....
April 25, 2024
The Art Market
Sotheby’s set to make record for Surrealist Leonora Carrington
...Among the younger artists making their mark was Chris Huen Sin-kan, whose “Treasure Hunting 2” painting from 2016 sold for HK$900,000 (with fees; est HK$240,000-HK$320,000)....
April 18, 2024
Inside BusinessJune Yoon
BYD’s $230,000 electric sports car signals plan to take on VW and Toyota
...Its new plug-in hybrid Seal U DM-i, which has a starting price of $23,000 in its home market, is set to go on sale in the coming months....
March 5, 2024
Automobiles
French car parts supplier Forvia to cut 10,000 jobs to tackle Chinese competition
...French car parts supplier Forvia aims to cut 10,000 jobs, or more than a tenth of its workforce, saying it was bracing for an influx of Chinese competition in Europe as suppliers follow automakers to the...
February 19, 2024
Rivian Automotive, Inc.
Electric-truck maker Rivian projects no production growth in 2024
...Rivian said it planned to produce 57,000 battery-powered trucks and vans this year, compared with 57,232 produced in 2023. It also announced a 10 per cent cut to its salaried workforce....
February 21, 2024
LexTesla Inc
Elon Musk is still intrinsic to Tesla’s future Premium content
...On the realistic end is a $25,000 vehicle and cheaper assembly process. But one day, he says, Tesla and SpaceX may create something that is not “even really a car”....
April 2, 2024
Oil & Gas industry
Ithaca Energy agrees £750mn deal for most of Eni’s UK oil and gasfields
...The sale to Ithaca — which is majority owned by Israel’s Delek Group — includes British assets that Eni took on with Neptune....
April 23, 2024
LexHermès International SCA
This luxury Armageddon leaves investors spoilt for choice Premium content
...The group has more customers for its £10,000 handbags than it actually produces....
April 26, 2024

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