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The Volkswagen ID. Buzz, an all-electric minivan, is now available in the US, starting at $59,995, but lacks federal tax credit eligibility due to its German manufacturing. While it offers unique features and a nostalgic design, it faces stiff competition from more affordable electric SUVs with better performance and range. The minivan market is shrinking, raising questions about the ID. Buzz's appeal amidst numerous superior alternatives.
The Nasdaq Composite reached an all-time high, buoyed by a significant rally in Tesla shares, while the S&P 500 and Dow Jones snapped their six-week winning streaks amid disappointing earnings growth. Japan's ruling coalition lost its parliamentary majority, causing the yen to weaken against the dollar. Waymo raised $5.6 billion to expand its robotaxi service, as investors brace for a busy week of earnings reports from major tech companies.
TSMC has suspended shipments to China-based Sophgo after a chip it manufactured was found in Huawei's Ascend 910B processor, raising concerns over U.S. export control violations. Sophgo, linked to Bitmain, claims compliance with laws and denies any relationship with Huawei. TSMC, which has not supplied Huawei since September 2020, is investigating the matter and has informed U.S. authorities.
Boeing Co. is set to initiate a capital raise exceeding $15 billion as early as Monday, aimed at enhancing its liquidity amid ongoing challenges. The amount could increase based on investor demand, with advisers actively seeking potential backers for the offering.
McDonald's is reintroducing Quarter Pounder burgers at approximately 900 restaurants after a temporary withdrawal due to an E. coli outbreak linked to slivered onions. The company has ceased using Taylor Farms as a supplier for this ingredient and is working with beef suppliers to ensure safety. The outbreak has resulted in 75 cases across 13 states, with two hospitalizations and one death reported.
U.S. equity futures rose as investors anticipated earnings from major tech companies, boosting the Nasdaq Composite to new heights. A decline in oil prices and a stabilizing geopolitical situation contributed to positive market sentiment. This week marks a busy earnings season, with key reports from Alphabet, Microsoft, Meta, Amazon, and Apple, alongside important economic data releases.
California Governor Gavin Newsom announced plans to more than double the annual tax credits for film and television production to approximately $750 million, addressing a significant decline in content production in the state. At a media event in Los Angeles, he emphasized the need for meaningful action to combat this crisis. Michael Hackman of Hackman Capital Partners described the increased rebates as a positive initial step.
The DAX 40 is experiencing its first weekly loss in three, having retreated from a record high of 19,683 to below the September peak of 19,492, indicating potential further downside. The Dow Jones is also on track for a negative week, with a significant drop from last week's record high, testing key support levels around 41,880 and 41,802. Meanwhile, the NASDAQ 100 faces its first weekly loss in over a month, with a sell-off from a three-month high of 20,499, bringing the early October low of 19,611 back into focus.
Elon Musk has reportedly been in regular contact with Vladimir Putin since late 2022, discussing personal, business, and geopolitical issues. This revelation raises concerns about Musk's influence and potential conflicts of interest, especially given his ties to U.S. military contracts and ongoing federal investigations into his companies. Meanwhile, former President Trump has maintained multiple conversations with Putin since leaving office, further complicating the political landscape.
Israeli Prime Minister Netanyahu faced criticism from both his cabinet and opposition for the perceived weakness of recent attacks on Iran, with calls for more aggressive action. Despite attacking 20 military targets, Netanyahu emphasized coordination with the US, which has restricted strikes on Iran's nuclear and oil facilities. As tensions rise, Netanyahu's political maneuvering reflects the complexities of his relationship with the US and the ongoing security challenges in the region.
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volkswagen id buzz pricing raises questions in shrinking electric minivan market
02:48 28.10.2024
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