Slovakia, known as "Europe's Detroit," faces significant risks from potential U.S. tariffs under President-elect Trump, as nearly 74% of its exports to the U.S. are passenger cars. The country, which has rapidly developed its automotive industry, now relies heavily on this sector, employing over 250,000 people. While European lawmakers are wary of Chinese competition, the uncertainty surrounding U.S. trade policies poses a new challenge for Slovakia's economy.
Xiaomi is set to launch its electric car, the SU7, which integrates seamlessly with its ecosystem of smart home products, allowing users to control devices like vacuums and air conditioners from the vehicle. The SU7 features a powerful triple-motor drivetrain and a user-friendly operating system compatible with both iOS and Android. Upcoming models include the MX11, an electric SUV, and a potential extended-range vehicle, reflecting Xiaomi's ambition to capture the young Chinese consumer market.
BrainChip focuses on neuromorphic processors for energy-efficient AI applications. While Germany has promising AI start-ups, few are publicly listed, and major companies like Porsche and SAP are investing in AI technologies. Global IT spending is projected to reach $5.74 trillion by 2025, with significant advancements from tech giants like Microsoft, Google, and Amazon driving the AI market forward.
Elon Musk's influence over the automotive industry raises concerns as US automakers, having invested nearly $146 billion in electric vehicles, fear potential rollbacks of emissions regulations under a new administration. With Trump’s past grievances against the industry, companies are lobbying to maintain stability in emissions standards to protect jobs and investments. The shift towards electric vehicles is seen as inevitable, but uncertainty looms over the future of traditional car sales and compliance with evolving regulations.
UBS has upgraded Volvo to a neutral rating and raised its target price to SEK 274 from 264. The bank notes that while the risk/reward is more balanced due to falling shares and production adjustments, it refrains from a buy recommendation due to ongoing challenges in the European and North American markets.
European stocks are set for a mixed open as traders await earnings reports from major companies like Barclays and Unilever, amid a backdrop of declining U.S. markets. The U.K.’s FTSE 100 is expected to rise slightly, while Germany’s DAX and France’s CAC are projected to open lower. Global sentiment has been affected by the recent downturn in U.S. indices, with the Dow experiencing its largest one-day loss since early September.
As the U.S. election approaches, Bank of America emphasizes the importance of stock picking over index investing, noting that political outcomes could impact specific market sectors. Meanwhile, Scotiabank identifies three biotech firms poised for significant growth, while European markets are set for a mixed opening amid key earnings reports, including Deutsche Bank's return to profit. Crude oil prices have risen due to geopolitical tensions and China's rate cuts, while gold continues its rally, reaching record highs amid economic uncertainties.
In 2024, Chile's EV sales surged nearly 200%, with market share tripling to 1.2% amid a declining overall market. Tesla, entering in January, captured 25% of the EV market, while BYD followed with 19%, primarily from affordable models. The Model 3 and Model Y led sales, highlighting the demand for competitively priced EV options.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.
