U.S. manufacturing orders in China are down 40% in what a logistics ...
Synopsis by CNBC Dec 06 22
U.S. manufacturing orders in China are down 40% in what a logistics manager described to CNBC as an unrelenting demand collapse ...Read full article
CNBC: U.S. manufacturing orders in China are down 40% in what a logistics ...
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| Last Updated | Dec 06 22 |
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Tesla cuts prices in US, China and Germany as competition heats up: Tesla has announced aggressive price cuts in China and Germany, shortly after reducing prices ...
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Quick Glance: Tesla cuts prices in US, China and Germany as competition intensifies
- Tesla has announced aggressive price cuts in China and Germany, shortly after reducing prices in the United States, as the world’s largest maker of electric vehicles (EV) faces declining sales and growing competition in major markets.
- The prices of four models were slashed in China by 14,000 yuan ($1,932), while in Germany, the price of the Model 3 rear-wheel drive was lowered by 2,000 euros ($2,132). Earlier cuts were made in the US, with prices of three models reduced, while prices for the Model 3 and Cybertruck remained unchanged.
- The price cuts come during a tough time for Tesla, with a significant stock plunge and a drop in quarterly deliveries. Elon Musk postponed his planned India trip due to company obligations. In China, Tesla's price cuts escalate an existing price war in a highly competitive sector influenced by other manufacturers like BYD offering more affordable options.
- The price wars in China began in 2022 and continue with over 30 car makers announcing further price reductions, impacting the entire auto industry's profit margins. Competitors like BYD and XPeng are also offering subsidies and lowering prices to attract buyers in the EV market, posing challenges to Tesla's market dominance.
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Quick Glance: Pro-China Party Secures Overwhelming Victory in Maldives Election
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- Official results confirmation is expected soon, with the new assembly set to take office in early May.
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- The rockets were described as highly accurate and capable of carrying tactical nuclear warheads.
- The US and South Korea are responding with enhanced military exercises and nuclear deterrence strategies.
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- In September, the Met Police disclosed the arrest of a man in his twenties on espionage suspicions. The Sunday Times revealed his parliamentary researcher identity.
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- There are two ways to look at the EU's relative decline: living standards and power.
- The EU is dealing with different threats from aggressive Russia, China, and the United States.
- To tackle the challenges, the EU needs to strengthen its single market, invest in key industries, and focus on future technologies.
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- China responds moderately to US actions such as symbolic tariffs and investigations.
- Emphasis on the importance of US relationship and reliance on American consumer.
- Efforts to stabilize US-China ties amidst election rhetoric and tensions.
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Paid articlePaidQuick Glance: Tesla Cybertruck Recall and Stock Decline 2024
- Elon Musk's underlings at Tesla Inc. are accustomed to chaos, but this year has been particularly turbulent. The stock price has plummeted, there has been confusion around product decisions and price cuts. Tesla's position in the Chinese EV market is under threat, and a meeting with India's Prime Minister for a planned investment announcement was abruptly called off.
- Tesla is expected to report a significant drop in operating profit and its first revenue decline in four years. Musk has ordered massive layoffs and is staking the company's future on a self-driving vehicle concept called the robotaxi. Many employees are unsettled by the changes the CEO wants to implement.
- Musk has been discussing the concept of an autonomous taxi service for at least eight years, but Tesla has not yet built the infrastructure required for it. The focus is now on the robotaxi instead of a cheaper mass-market vehicle that many investors deem crucial. Key managers have left the company, and analysts are concerned about Tesla's strategy.
- Musk has announced that more than 10% of the workforce will be laid off. Transitioning to the robotaxi service is risky, as regulation at the state and local level can be challenging. Nevertheless, Musk is betting on Tesla making robotaxis a reality by promoting FSD and cutting prices. Some of the Tesla layoffs were poorly organized and perceived as humiliating.
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Germany arrests 3 suspected China spies: Germany's Federal Prosecutor has said three German citizens were arrested for alleged involvement in providing ...
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Quick Glance: Tesla Stocks Plummet Before Earnings Announcement
- The Tesla stock dropped by 3.4% on Monday, closing at $142.05, marking a 43% decline for the year, the second worst among S&P 500 members.
- Tesla cut prices in the USA, China, and across Europe, offering reductions of up to $2,000 on their popular Model Y SUV and entry-level Model 3 sedan.
- These reductions compound investors' growing concerns following weak first-quarter deliveries, layoffs, and a Cybertruck recall.
- Analysts are anticipating a 5.1% revenue decrease for Tesla in the first quarter, potentially marking the first year-over-year decline since Q2 2020 due to Covid disruptions.
Blinken to warn China over its support for Russia’s military during this week's visit
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How a unique and fully-funded scholarship in China is forging success for future leaders worldwide
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China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show
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Quick Glance: China Acquires Banned Nvidia Chips in Super Micro, Dell Servers
- Chinese universities obtained Nvidia chips through third parties despite ban
- Tenders reveal acquisition of advanced chips in server products
- Sales by unknown Chinese retailers bypass U.S. regulations
- Tenders demonstrate China's access to advanced technology, potential export control violations
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German market share is stagnating: China's e-car manufacturers are stuck on the starting block
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Germany’s China shock: as Scholz leaves Beijing, others raise alarm about waning economic honeymoon
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Tesla is waging a price war against its Chinese rivals: Tesla has been slashing prices for its vehicles in the Chinese, US and European markets amid declining ...
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Chinese foreign minister arrives in Cambodia, Beijing's closest Southeast Asian ally
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