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...The U-turns included pushing back a ban on the sale of new petrol and diesel cars from 2030 to 2035 and diluting the phaseout of fossil fuel boilers....
...Slowing growth of electric vehicle sales has caused a series of corporate U-turns. While sharp swerves are never fun, the change in direction is sensible....
...Tuesday’s share price drop extended the plunge in the Austin-based carmaker’s stock this year to 33 per cent, making it one of the worst performers in the S&P 500 with a trajectory that continues to diverge...
...F1’s operating profit rose by 64 per cent to $392mn in 2023 from a year earlier, as revenues jumped to $3.2bn from $2.5bn....
...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....
...Thousands of imported vehicles, many of them electric cars made in China, are clogging up European ports....
...Voters across the bloc are turning right in protest at falling living standards, rising immigration and the costs of going green, such as for new boilers and electric cars....
...U-Power last month signed a deal to supply New York-based EV start-up Olympian Motors with its skateboards....
...Shares in the company, which declined 5.6 per cent on Monday, have fallen more than a third this year, making it the second-worst performer in the S&P 500 and underperforming those of legacy carmakers....
...Consider that Gamesa’s implied value was around €15bn about a year ago when Siemens Energy bought out the bulk of its minority shareholders....
...Electric-car maker Tesla was a major exception to the positive mood, however, dropping 12.1 per cent on the back of a disappointing earnings report....
...But its status as the electric car champion — and one with a stock market valuation still dwarfing that of rivals — leaves Tesla particularly exposed....
...Sunak’s decision last year to curtail the development of a high speed rail line from London to Manchester and dilute targets for the rollout of electric vehicles drew criticism from many business groups...
...The blue-chip S&P 500 rose 0.8 per cent, bouncing back from a Friday loss that ended a five-session streak of record highs for the index....
...It’s only barely enough for inclusion into the S&P 500....
...Together with the rapidly increasing investments going into battery manufacturing, this makes a U-turn away from them improbable and impractical....
...Likewise, S&P Global Mobility surveys suggest stable EV loyalty, measured as the share of EV owners whose next car was an EV, especially for Teslas....
...Bruch has spoken of an “urgent requirement to fix the corporate culture” at Siemens Gamesa, which was formed in 2017 in a merger of Siemens’ wind business and Spain’s Gamesa....
...Those who crave a speedier stock may not wish to sit idling with Porsche....
...This is notwithstanding that a large share of USDT’s reserves comprise short-term U.S. treasury bills and other U.S. dollar cash equivalents....
...EV sales forecasts based on IRA impacts could surpass 4.6mn by 2030, more than double the previous expectation of 2mn, according to S&P Global estimates....
...Just look at the rising numbers of sexual assaults on university campuses, the Metropolitan Police WhatsApp groups, and the “Everyone’s Invited” website documenting rape and sexual assault in...
...This is an audio transcript of the Political Fix podcast episode: ‘Is Rishi Sunak’s net zero U-turn a vote-winner?’...
...These power-hungry operations will together consume more than 480 terawatt hours of electricity, or almost a tenth of total US power demand, by 2035, up from 4.5 per cent in 2025, according to S&P Global...
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