Many promising electric vehicle (EV) stocks have had a tough time in recent years. Tesla 's (NASDAQ: TSLA) auto sales have declined for several years straight. Rivian 's (NASDAQ: RIVN) sales growth has also flatlined. Lucid Group (NASDAQ: LCID) , meanwhile, continues to post mounting losses. Here's the thing: All three of these companies are chasing a $10 trillion opportunity that could cause thei...
Many promising electric vehicle (EV) stocks have had a tough time in recent years. Tesla 's (NASDAQ: TSLA) auto sales have declined for several years straight. Rivian 's (NASDAQ: RIVN) sales growth has also flatlined. Lucid Group (NASDAQ: LCID) , meanwhile, continues to post mounting losses. Here's the thing: All three of these companies are chasing a $10 trillion opportunity that could cause their stock prices to soar in the coming years. But only two of these three companies are properly positioned to take advantage and create enormous value for shareholders. The robotaxi market is just getting started. Some estimates place the current market size at between $1 billion to $2 billion globally. But huge growth is anticipated, thanks to sizable improvements in self-driving capabilities due to rapidly advancing artificial intelligence (AI) technologies. "Artificial intelligence is reshaping the car and becoming a key differentiator," concludes a recent report from global consulting firm McKinsey & Co. Continue reading
Competition among Hong Kong florists heated up on the day before Mother’s Day as stores slashed bouquet prices and offered more innovative products, with some vendors reporting weaker business and lower profit margins compared with last year. Despite the wet weather on Saturday, vendors at the Mong Kok Flower Market touted colourful bouquets of carnations, roses and other fresh flowers. The price ...
Competition among Hong Kong florists heated up on the day before Mother’s Day as stores slashed bouquet prices and offered more innovative products, with some vendors reporting weaker business and lower profit margins compared with last year. Despite the wet weather on Saturday, vendors at the Mong Kok Flower Market touted colourful bouquets of carnations, roses and other fresh flowers. The price of a medium-sized bouquet at the market ranged from HK$300 to HK$400 (US$38.32 to US$51.10), at...
Russian President Vladimir Putin on Saturday oversaw a military parade commemorating the defeat of Nazi Germany in World War II on Red Square. Security was tight in Moscow as Putin spoke at the parade, even as a US-brokered three-day ceasefire eased concerns about possible Ukrainian attempts to disrupt the festivities. Putin, in power for over a quarter of a century, has used Victory Day, Russia’s...
Russian President Vladimir Putin on Saturday oversaw a military parade commemorating the defeat of Nazi Germany in World War II on Red Square. Security was tight in Moscow as Putin spoke at the parade, even as a US-brokered three-day ceasefire eased concerns about possible Ukrainian attempts to disrupt the festivities. Putin, in power for over a quarter of a century, has used Victory Day, Russia’s most important secular holiday, to showcase the country’s military might and rally support for his...
Social Security is facing a growing gap between the revenue it brings in and the benefits it pays out. The actuaries at the Social Security Administration estimate that the retirement program will pay out $1.5 trillion in benefits this year, but revenue from payroll taxes, taxes on benefits, and interest earned on investments will total only $1.3 trillion. That deficit is set to expand over the ne...
Social Security is facing a growing gap between the revenue it brings in and the benefits it pays out. The actuaries at the Social Security Administration estimate that the retirement program will pay out $1.5 trillion in benefits this year, but revenue from payroll taxes, taxes on benefits, and interest earned on investments will total only $1.3 trillion. That deficit is set to expand over the next six years until the trust fund runs out of money. While there are several reasons why Social Security is facing a shortfall in revenue, there's one clear culprit that Congress has the power to address: rising income inequality. If Congress fails to act, Social Security retirement benefits could be slashed by 23% across the board as soon as 2032, according to the most recent estimates from Social Security's chief actuary. Image source: Getty Images. Continue reading
The European Central Bank is carefully weighing its response to the Iran war and the impact on inflation to ensure it acts neither prematurely nor too late, President Christine Lagarde told Spain’s RTVE. Policymakers face “massive uncertainty” and need “a lot more data” to understand the repercussions of the conflict, Lagarde said in an interview broadcast on Saturday. She declined to be drawn on ...
The European Central Bank is carefully weighing its response to the Iran war and the impact on inflation to ensure it acts neither prematurely nor too late, President Christine Lagarde told Spain’s RTVE. Policymakers face “massive uncertainty” and need “a lot more data” to understand the repercussions of the conflict, Lagarde said in an interview broadcast on Saturday. She declined to be drawn on whether the ECB will raise interest rates next month, as many expect. “We are constantly torn between the risk of reacting too quickly or the risk of reacting too late, and we have to find the right path to navigate our economies toward that 2% medium term inflation, which is our goal,” she said. After holding borrowing costs unchanged on April 30, the ECB signaled that a rate increase will be considered in June. Slovak central bank chief Peter Kazimir has since said such a move is “all but inevitable,” while others have struck a more cautious tone, highlighting the need to assess more data. The fighting in the Middle East and the accompanying surge in energy costs have already pushed up inflation to 3%, with further increases likely. At the same time, it’s started to weigh on economic activity. Data on Friday showed an unexpected drop in industrial production in Germany, the region’s largest economy. European Union Economy Commissioner Valdis Dombrovskis warned this week that Europe is facing “a stagflationary shock.” While that puts the ECB in a tricky spot, most analysts and investors expect a hike in June, with the latter anticipating at least one more move before year-end. ECB Is ‘Highly Vigilant’ to Rising Inflation Risks, Nagel Says ECB’s Guindos Says Status of Hormuz Will Be Key for June Meeting Schnabel Says ECB Will Need to Hike If Energy Shock Broadens “Markets are looking at the same things we do, and they try to anticipate as well,” Lagarde said. At the ECB, “we’re all trying to do the best job we can in figuring out how we bring inflation back to 2%. That’s th...