Volvo initially planned to sell only fully electric cars and plug-in hybrids by 2030. However, it now seems that target was overly ambitious. The Swedish-Chinese automaker Volvo announced on September 4, 2024, that it will continue to sell internal combustion engine vehicles even after 2030. While the company still aims for 90 to 100 percent of its sales to come from fully electric cars or plug-in hybrids by the end of the decade, the remaining zero to ten percent will be covered by mild-hybrid models, if necessary. Volvo cited several reasons for this adjustment, including the slower-than-expected expansion of charging…
Author: Kaitlyn Brown
The ongoing shift towards remote work is expected to significantly impact the real estate market in the coming years, with researchers from the Ifo Institute predicting a 12 percent decline in the demand for office space. German companies are increasingly reducing their office space due to the persistent trend of regular remote work. According to a survey conducted by the Munich-based Ifo Institute, 6.2 percent of businesses have already downsized their office space. Additionally, 8.3 percent of companies plan to do so within the next five years. “This trend is particularly strong among service providers and large corporations, which utilize…
The Small and Medium-Sized Enterprises and Economic Union (MIT) is a significant voice within the CDU. The MIT is now calling for equality between electric cars and combustion engines at the EU level, insisting that the entire energy consumption of electric vehicles must be considered. Electric cars are seen as a crucial element of German and European climate policy. However, electric vehicles are not always more environmentally friendly than combustion engines. Only after 90,000 kilometers of driving are compact class electric cars more climate-friendly than combustion engines. If only green electricity were used, the threshold at which electric cars become…
Shares of Naturgy plunged nearly 14% in Tuesday’s trading session after CriteriaCaixa announced the termination of its negotiations with the Emirati company Taqa, without reaching any agreement. The two companies were finalizing plans for a joint takeover bid for the Spanish energy firm. Naturgy’s stock maintained its Monday closing price of 24.86 euros per share until 9:35 AM, reflecting a 0.65% increase. However, following an auction, the energy company’s shares fell by 11.67% by 9:45 AM, trading at 21.96 euros per share. By 11:00 AM, the stock had further declined by 12.15%, reaching 21.81 euros per share. By 1:30 PM,…
Worldbild GmbH & Co. KG, a key player in the German book trade and part of the Droege Group, has filed for insolvency, according to “WirtschaftsWoche”. The company, which includes brands such as teNeues and Jokers, recently reported revenues of around 500 million euros. However, external crises and competition from new Asian vendors have forced it to take this step. The insolvency filing for Worldbild GmbH & Co. KG was made on Monday and exclusively affects this entity. Other brands and subsidiaries of the WB D2C Group, which account for about 80% of the group’s revenue, are not impacted. Struggling…
Warren Buffett has finally unveiled the secret stocks his company has been investing in: Chubb. The renowned investor, through Berkshire Hathaway, bought into the insurance giant during the third quarter of 2023. He obtained regulatory approval to keep this investment confidential until Berkshire had fully established its stake. In late September, Buffett’s company initially acquired 8.1 million Chubb shares valued at $1.7 billion (approximately €1.5 billion). By the end of December, this position had increased to 20.1 million shares worth $4.5 billion (€4.17 billion). The buying spree didn’t stop there. By the end of March, Berkshire had further increased its…
Market analyst James Harte has shared his analysis of Bitcoin’s price on Tickmill, highlighting that the decrease in Bitcoin’s price continues with BTC futures falling around 14% from the year-to-date highs. Harte noted that after breaking to new all-time highs last week, BTC has been under sustained selling pressure, and futures are currently on track to record their fourth consecutive day of losses. He also pointed out that there has been much discussion recently about whether the current surge in Bitcoin constitutes a bubble, to the point where many commentators are warning of an imminent drop: “Indeed, the current pullback…
In the ongoing freight recession, signs of a potential inflection point have surfaced, as revealed in the Logistics Managers’ Index (LMI) report released on Tuesday. The report suggests that while the freight recession persists, cracks in the downturn have started to appear, aligning with observations since late July. Transportation Prices: Transportation prices experienced a decline in September (43.5), albeit at a rate slower than the record pace set in May. The year-over-year (y/y) decline was only 1 percentage point during the month. Notably, downstream companies closer to consumers (retailers) reported a neutral pricing reading of 50, contrasting with a 39.7…
As the new season approaches, what better way to give your home a fresh and stylish look than by exploring the vast array of options at Lowe’s? Whether you’re on the hunt for new appliances or furniture, Lowe’s has positioned itself as the go-to destination for all your home improvement needs. The guiding principle at Lowe’s is simple yet effective: strive for the best value. And now is the ideal moment to embark on those DIY projects that you’ve been envisioning. Your living space, your sanctuary, could use a rejuvenating touch, and Lowe’s is here to make it happen. With…
For portions of Tuesday, New York City experienced the worst air pollution globally due to smoke drifting south from over a hundred wildfires in Quebec. The harmful smoke from Canada’s fires has intermittently blanketed the Northeast and Mid-Atlantic regions for over a week, causing heightened anxiety about the long-term effects of poor air quality. Tuesday evening saw New York City’s air quality index surge beyond 200, a value deemed “very unhealthy” by IQair. At 10 p.m. ET, New York had the poorest air quality among all major metropolitan areas, as per IQair’s analysis. Later in the evening, only New Delhi,…