April 10, 2024

Here’s a significant warning for Elon Musk, Tesla, and investors banking on robotaxis to compensate for shelved Tesla EV variants. Around six months after General Motors withdrew its Cruise self-driving vehicles from US streets due to a serious accident in San Francisco, GM reintroduced a car on Tuesday – this time with a driver. GM […]

China’s car industry surged in March as demand recovered from weak levels in January, followed by a holiday-dampened February, propelling output higher. Government and industry data released on Wednesday showed China’s vehicle sales rose by 9.9% year-on-year to 2.69 million units in March, rebounding from a 19.9% slump in February. An intensifying price war, along

March’s US Consumer Price Index shouldn’t come as much of a surprise to financial markets. After all, it merely continued the trend established in the January data and persisted into February – that inflation was lingering longer than desired. With the exception of oil, the CPI report saw markets falter and bullish analysts turn bearish.

Hotter than expected March inflation data triggered a wave of selling in US markets with the 10 year Treasury yield soaring back above 4.5 per cent. The Dow Jones fell 1.09 per cent, the S&P 500 slid 0.95 per cent and Nasdaq Composite closed 0.84 per cent lower. The March CPI came in a bit

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The Reserve Bank of NZ believes that maintaining interest rates at their current highs will “return consumer price inflation to the bank’s 1% to 3% target by the end of 2024.” In a statement issued after its latest monetary policy discussion, the RBNZ stated that the extended period of rates at current levels (5.5% for

In a recent development, Fitch Ratings has opted to revise the outlook on China’s long-term foreign debt from stable to negative. This move comes as Fitch cites escalating concerns regarding the country’s public finance prospects amid a steady rise in debt levels. The rating agency has highlighted a multitude of factors contributing to this decision.

In a surprise announcement four months after Moody’s move, Fitch on Wednesday revised its outlook on China to negative, citing increasing risks to the country’s public finance outlook from a slowing economy and its search for new ways to stimulate growth in the wake of the property crunch. Fitch forecasted the general government deficit would

On Wednesday, the Australian sharemarket saw a 0.3% increase in the benchmark S&P/ASX 200 Index, reaching 7848.5 points, predominantly driven by a surge in mining stocks attributed to optimistic forecasts regarding iron ore consumption. The materials sector notably excelled, rising by 0.9%, as major companies such as BHP, Fortescue Metals, and Rio Tinto experienced notable

Forrestania Resources (ASX:FRS) has announced that they have returned gold samples of up to 49 grams per tonne from fieldwork at Ada Ann Prospect, Eastern Goldfields. The Company believes that the gold story at this project can be quickly advanced to a potentially valuable asset for the Company, given the very favourable location nearby of