LA Private

March 16, 2025

Bessent acknowledges recession risks but downplays market volatility

Treasury Secretary Scott Bessent has conceded that a recession is possible but downplayed concerns about the recent stock market sell-off, stating that corrections are “healthy” and “normal.” His comments come amid increased market turbulence following the Trump administration’s sweeping tariffs on key trading partners. “There are no guarantees,” Bessent said in an interview on NBC’s […]

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BMW warns of $1 billion earnings hit from escalating tariffs

BMW has warned that newly imposed tariffs will cost the company approximately €1 billion ($1.09 billion) this year as global trade tensions intensify between the United States, Europe, and China. The German automaker said on Friday that its earnings margin for its automotive segment is expected to fall between 5% and 7% in 2025, compared

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Northvolt files for bankruptcy in Sweden after failing to secure funding

Swedish battery manufacturer Northvolt filed for bankruptcy on 12 March 2025, bringing an abrupt end to a company once seen as Europe’s best hope of challenging Asian dominance in electric vehicle (EV) battery production. Northvolt cited rising capital costs, geopolitical instability, supply chain disruptions, and shifting market demand as the main factors behind its financial

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