Author: Jamie Carpenter
As the nation prepares for the official state funeral of former President Jimmy Carter, a sense of collective mourning is coupled with deep gratitude for the profound impact of his life. The White House confirmed that the funeral will take place on January 9 at the Washington National Cathedral, marking a solemn occasion to remember the legacy of a leader whose life was defined by compassion, faith, and service. President Joe Biden, a longtime friend of Carter, will deliver a heartfelt eulogy, ensuring that Carter’s remarkable contributions to the world are honored with the dignity they deserve. A Day of…
Osamu Suzuki, the transformative former CEO of Suzuki Motor Corp., who led the Japanese automaker to global prominence, passed away on Wednesday at the age of 94. Known for his charismatic leadership and hands-on approach, Suzuki’s tenure shaped the company into a powerhouse of affordable, compact vehicles popular across Asia and beyond. A Leader Rooted in Humility Suzuki, often self-described as “an old guy from a small to mid-size company,” brought a refreshing candor to the automotive industry. His leadership style emphasized grassroots understanding, often engaging directly with factory operations to inspire innovation and cost-efficiency. “Making good quality and low-price…
Electric vehicles (EVs) continued to reshape the global auto industry in 2024, with significant growth across key markets despite economic and political challenges. China, Europe, and the U.S. led the way in adoption, while uncertainty about subsidies looms as a potential hurdle in 2025, especially with the incoming Trump administration in the United States. Global EV Market Growth The global EV market, including pure battery EVs and plug-in hybrids, grew by 25% year-over-year through November, according to consultancy Rho Motion. By the end of the year, an estimated 15.2 million EVs will have been sold worldwide. The International Energy Agency…
A Russian cargo ship named Ursa Major sank in the Mediterranean Sea overnight following a powerful explosion in its engine room, leaving two crew members missing, the Russian Foreign Ministry confirmed on Tuesday. The vessel, linked to Russia’s Defence Ministry, was en route to Vladivostok carrying two massive port cranes when the incident occurred. Explosion and Rescue Efforts The explosion, which occurred on Monday evening, caused the ship to list heavily to its starboard side before sinking. Of the 16 crew members on board, 14 were rescued and transported to the Spanish port of Cartagena, while two remain unaccounted for.…
The stock market started the week with mixed results following the passage of a funding bill that prevented a government shutdown. Early gains by Nvidia (NVDA) and Tesla (TSLA) provided a boost, but broader market trends reflected investor caution. A mixed start for major indexes On Monday morning, the Dow Jones Industrial Average fell by 0.6% (250 points), and the S&P 500 declined by 0.1%. Meanwhile, the tech-heavy Nasdaq composite edged higher, climbing 0.4% in early trading. Adding to market dynamics, the 10-year Treasury yield ticked up to 4.55%, signaling concerns about interest rates. Oil prices, however, provided relief as…
Tesla has announced a significant recall involving 694,304 vehicles due to a problem with the tire pressure monitoring systems (TPMS), according to a notice from the National Highway Traffic Safety Administration (NHTSA). This recall adds to a series of others Tesla has issued in 2024, collectively impacting millions of vehicles. Details of the Recall The vehicles affected include: Tesla’s recall is officially listed under the reference number SB-24-00-018. Affected owners will receive notification by mail beginning February 15, 2025. To determine whether your Tesla vehicle is part of the recall, visit the Tesla VIN Recall Search Tool and input your…
President-elect Donald Trump has long touted the stock market as a barometer of his success. Since his reelection, promises of tax cuts, deregulation, and business-friendly policies had fueled a post-election rally. But this week, the Federal Reserve reminded investors that it holds the ultimate power over markets. On Wednesday, the Fed announced it would cut interest rates by a quarter-point, delivering on expectations. However, its updated forecast of just two rate cuts for 2025—down from four in its September projection—shocked traders. Combined with projections of higher inflation next year, the news sent stocks plunging. The S&P 500 fell 3%, and…
At its final policy meeting of the year, the Federal Reserve revised its outlook for 2025, projecting just two quarter-point rate cuts, down from the four cuts anticipated in its September meeting. The central bank’s latest dot plot—a key tool reflecting individual officials’ rate expectations—now indicates a more cautious approach to monetary easing amid persistent inflationary pressures and steady economic growth. The Fed’s updated projections place the benchmark federal funds rate at 3.9% by the end of 2025, corresponding to a target range of 3.75% to 4%. These adjustments reflect growing concerns about inflation and a more measured outlook for…
China began the week with underwhelming economic data, reigniting concerns about its faltering recovery. Retail sales for November rose just 3.0% year-on-year, falling short of the median forecast of 4.6%. Additionally, house prices continued their downward trend, further exposing the cracks in China’s property sector. Industrial output offered a slight silver lining by holding steady, but the overall data underscored ongoing economic fragility. While officials continued to promise stimulus measures—including potential cuts to bank reserve requirements—credit data revealed a more troubling trend: lower borrowing costs are proving ineffective when businesses remain unwilling to invest. Chinese bond yields fell to fresh…
President-elect Donald Trump’s transition team has recommended dramatic policy changes to cut support for electric vehicles (EVs) and charging infrastructure, while imposing stricter measures against cars, components, and battery materials from China, according to a document obtained by Reuters. The recommendations reflect a sharp pivot from President Joe Biden’s EV policies and emphasize boosting U.S. battery production, protecting national security, and imposing global tariffs on battery materials. Focus on National Defense Over EV Expansion The proposed policies redirect funding earmarked for EV charging stations and affordability programs toward national-defense priorities. This includes securing a supply chain free of Chinese materials…