China has approved a 10 trillion yuan ($1.4 trillion) plan to help its struggling economy by allowing local governments to refinance debt. The plan includes borrowing up to 6 trillion yuan ($838 billion) over three years to replace “hidden debt” from risky local government financing platforms. Additionally, local governments will receive a 4 trillion yuan ($558 billion) quota in special bonds over five years. Despite … Continue reading China approves $1.4 trillion debt package in latest measure to boost flagging economy

Tesla’s market value surpassed $1 trillion on Friday, driven by growing speculation that CEO Elon Musk’s support for President-elect Donald Trump could lead to favorable treatment for his companies. Tesla’s shares rose over 6%, reaching a two-year high. Analysts believe Musk could influence regulations on autonomous vehicles and secure delays in safety enforcement for Tesla’s driver-assistance systems, The Guardian has reported. Tesla’s profitability has been … Continue reading Tesla hits $1tn market value after Musk-backed Trump win

Toyota has warned that California’s electric vehicle (EV) mandates, which require 35% of 2026 model-year vehicles to be zero-emission, are “impossible” to meet. The company’s COO, Jack Hollis, stated that demand for EVs is not sufficient to meet the mandate, which could limit customer choice in several states. The regulations, part of California’s push for all new vehicle sales to be zero-emission by 2035, have … Continue reading Toyota says California-led EV mandates are ‘impossible’ as states fall short of goal

The International Association of Machinists and Aerospace Workers Local 751, representing 33,000 members in Seattle, ended its nearly two-month strike after accepting Boeing’s contract proposal. The deal, approved by 59% of union members, includes a 38% pay raise over four years, boosting salaries from $75,608 to $119,309, along with bonuses. However, Boeing did not reinstate the company pension plan, offering only 401(k) matching contributions instead. … Continue reading Boeing strike ends after labor union accepts contract offer, announces return to work

Stellantis announced plans to cut one manufacturing shift and lay off approximately 1,100 workers at its Toledo South Assembly Plant in Ohio, effective January 5. The move is part of the company’s strategy to reduce high inventory levels and align production with the demand for the Jeep Gladiator pickup. Stellantis is facing lower earnings and a decline in U.S. sales, particularly for the Jeep brand, … Continue reading Stellantis to indefinitely lay off 1,100 workers at Jeep plant in Ohio

Brazil’s central bank raised its key interest rate by 0.5 percentage points to 11.25% on Wednesday, marking the second consecutive increase. This move contrasts with the U.S. and EU, where central banks have started cutting rates. Brazil’s inflation in September was 4.42%, above the 3% target, driven by factors like a drought affecting food and electricity prices. The market predicts inflation will be 4.59% in … Continue reading Brazil Central Bank Hikes Key Interest Rate To 11.25%