Boeing commercial airplanes

Bailey, Governor of the Bank of England, attends the Bank of England Monetary Policy Report Press Conference, at the Bank of England, London, Britain, Feb 2, 2023. Yui Mok/Pool via REUTERS/File photo LONDON  -The Bank of England is expected to raise interest rates for the 11th time in a row on Thursday after a surprise jump in inflation dashed speculation that it might have been about to take a pause. The BoE is trying to reconcile Britain’s weak economic outlook and recent worries about global banks with stubbornly high price growth, and is due to announce its latest decision on rates at 1200 GMT. Most economists had believed inflation was on course to fall steadily, after hitting a 41-year high above 11 percent in October. But Wednesday’s data showed inflation rose to 10.4 percent in February rather than continuing its descent and immediately turned Thursday’s announcement into an almost one-way bet on a quarter percentage-point increase in Bank Rate. UK inflation … [Read more...] about Inflation shock puts Bank of England on course to raise rates again

Hankook Tire supplies Ventus S1 evo 3 EV tires to Volkswagen’s ID. Buzz. [HANKOOK TIRE AND TECHNOLOGY] Hankook Tire and Technology has taken the top spot in the tire market for electric vehicles (EV). The expansion of the EV market led to surging demand for tires exclusively for EVs and tire makers are actively trying to dominate the new market. Hankook Tire, the largest tire manufacturer in Korea, is playing a leading role. Because it secured technology exclusively for tires through continuous investment even before commercialization, Hankook Tire was able to rapidly dominate the market. Hankook Tire started to make its presence known in earnest at a time when it was supplying tires for Porsche’s Taycan, its first high-performance electric sports car model, in 2020. By partnering up with Porsche, a top sports car manufacturer, Hankook Tire was able to fully verify its technical skills for EV tires. Tesla’s Model Y and Model 3, which hit the market during the global EV … [Read more...] about Hankook Tire dominates EV market

KooRoo’s battery swapping station [LG ENERGY SOLUTION] LG Energy Solution is pushing ahead with its new businesses and focusing on future growth with in-house ventures KooRoo and AVEL, the battery manufacturing unit of LG Group said. KooRoo, established last year, is seeking to commercialize its battery swapping stations (BSS), which increase the convenience for users of electric motorbikes by allowing them to swap out a used battery for a fully-charged one rather than having to spend time charging the original battery. The service addresses a lot of the issues raised by electric vehicle users, including the long charge time, relatively short distance that can be traveled and high maintenance costs. “If the electric motorbike battery ecosystem grows, it will help delivery services, be eco-friendly, quiet and safe," said Ahn Hong-duk, head of KooRoo. “We are set to initiate developing exclusive BSS battery packs and stations and plan to build up the electric motorcycle … [Read more...] about New ventures drive growth for LG Energy Solution

Share to Twitter Share to Linkedin In what should go down as one of the all-time greatest propaganda campaigns in U.S. history, members of Congress convinced millions of Americans that deregulation caused the 2008 financial crisis. Following the collapse of Silicon Valley Bank, they’re at it again. Predictably, populists such as Senator Elizabeth Warren (D-MA) are blaming the SVB failure on “rolling back” the 2010 Dodd-Frank Act’s stricter oversight. Aside from whether Dodd-Frank regulations were effective at all or amounted to anything more than additional paperwork and higher capital requirements, Congress has never repealed a single Title of Dodd-Frank. Warren’s argument amounts to whether additional stress testing, capital, or liquidity would have saved SVB. But Dodd-Frank stress tests are designed to ensure sufficient capital to cover losses resulting from “adverse economic conditions,” not from individual mistakes or bad strategies. Separately, … [Read more...] about SVB Debacle Brings The Fed One Step Closer To Becoming Provider Of First Resort

Share to Twitter Share to Linkedin One of the leading healthcare institutions in Latin America, Albert Einstein Hospital is moving toward the next stage in its multimillion-dollar technology and innovation development strategy. The aim is to broaden access to advanced medicine in Brazil through initiatives with actors such as startups as well as tech and healthcare organizations worldwide. Founded in São Paulo by the city's Jewish community following World War II, The Albert Einstein Israelite Hospital started its activities in 1955. Considered Latin America's most modern private hospital, it also has a social assistance program encompassing care in low-income communities and public-private partnerships for public hospitals. With nearly 25,000 staff including over 10,000 registered doctors, the hospital specializes in high-complexity medicine, focusing on cardiology, oncology, orthopedics, neurology, and surgery, and frequently ranks among the best medical … [Read more...] about Brazil’s Albert Einstein Hospital Evolves Tech Strategy To Deliver Low-Cost Healthcare At Scale

India’s 150 million users were forced to stop using the Chinese-owned app in 2020. But an internal tool reviewed by Forbes showed that ByteDance and TikTok employees can still mine some of their most sensitive data. One employee called it “NSA-To-Go.” By Alexandra S. Levine , Forbes Staff A lmost three years after TikTok’s largest market, India, banned the Chinese-owned social media app over geopolitical tensions, troves of personal data of Indian citizens who once used TikTok remain widely accessible to employees at the company and its Beijing-based parent, ByteDance, Forbes has learned. The revelation comes as President Joe Biden’s administration threatens to ban the platform used by more than 100 million Americans if TikTok’s Chinese owner does not sell its stake. Officials in the highest levels of the U.S. government see a blanket TikTok ban as a possible solution to the country’s national security concerns about the potential for China to surveil or … [Read more...] about India Banned TikTok In 2020. TikTok Still Has Access To Years Of Indians’ Data

Key Takeaways U.S. equities indexes fell on March 22, 2023, as the Fed hiked interest rates even though markets remained concerned about issues in the banking sector. The Dow, Nasdaq, and S&P 500 all posted losses of approximately 1.6% during Wednesday's session. Bank stocks saw significant declines, with First Republic (FRC) turning in the worst performance among S&P 500 stocks on uneasiness about its risk of failure. U.S. equities sank after the Federal Reserve raised interest rates another 25 basis points (bps) in its effort to bring down inflation. The decision came despite expectations by some that policymakers might pause hikes because of concerns about the banking sector in the aftermath of the collapse of Silicon Valley Bank and Signature Bank. Fed Chair Jerome Powell noted that the banking stress will likely cause tighter credit conditions that will impact the economy. The Dow, S&P 500, and Nasdaq all dropped about 1.6%. Bank stocks tumbled, … [Read more...] about Markets Dip as Fed Raises Rates Despite Banking Concerns

From left: K2 battle tank, wheeled armored vehicle, HR-Sherpa. [HYUNDAI ROTEM] Since its foundation in 1977, Hyundai Rotem has been the sole supplier of tanks, associated vehicles and wheeled armored vehicles to the Korean Army. In line with the fourth industrial revolution, Hyundai Rotem is focusing on the research and development of future defense systems, combining unmanned and autonomous operation technology, robotic technology and 5G communication. The K2 Blackpanther main battle tank (MBT) is considered one of the world’s most advanced tanks. Due to Korea’s geo-strategic location, hundreds of K2 MBTs have been deployed for the Korean Army since 2014. Hyundai Rotem is gearing up advanced technologies such as remote controlled weapon systems and active protection systems considering rapid changes of unpredictable and unstable future battlefields. Recently, Hyundai Rotem won a contract supplying combat engineering vehicles by 2023. Additionally, Hyundai Rotem secured an … [Read more...] about [SPONSORED REPORTS] Hyundai Rotem focuses on future of defense systems

Ford expects to lose $3 billion on its electric vehicle department this year, the company announced Thursday. The company will be reorganizing its financial reporting into three distinct branches, Ford Blue, Ford Model e and Ford Pro, which will develop gas-powered, electric and commercial vehicles respectively, according to a press release. In the three years starting 2021, Ford Model e is expected to report a $3 billion loss. (RELATED: ‘Sustainable’ Electric Cars Are Getting Junked Over Minor Damage) “We’ve essentially ‘refounded’ Ford, with business segments that provide new degrees of strategic clarity, insight and accountability to the Ford+ plan for growth and value,” CFO John Lawler said.  “It’s not only about changing how we report financial results; we’re transforming how we think, make decisions and run the company, and allocate capital for highest returns.” Ford’s new structure and way of reporting earnings gives new insight into its EV business (which CFO … [Read more...] about Major Automaker Expects It Will Hemorrhage Billions From Its Electric Vehicle Business

Share to Twitter Share to Linkedin Topline Amid growing global concern over the social media platform, TikTok CEO Shou Zi Chew will testify before the House Energy and Commerce Committee Thursday, where U.S. lawmakers are expected to question Chew over safety concerns for minors and preventing U.S. user data from foreign access. Key Facts In Chew’s first appearance before Congress, he’s expected to discuss the company’s privacy and data security practices, as well as the company’s relationship with the Chinese government, which has come under increased scrutiny in recent months. Prepared Remarks Chair Rodgers, Ranking Member Pallone, and Members of the Committee: Thank you for the opportunity to appear before you today to talk about TikTok and our mission to inspire creativity and bring joy to more than 1 billion people worldwide. I look forward to discussing what makes TikTok so special to the diverse audiences it serves, as well as our … [Read more...] about TikTok CEO Shou Zi Chew’s Prepared Comments Before Congress