MILAN—Elon Musk’s SpaceX and Unipol Gruppo agreed to join forces to help people hit by flooding in northern Italy connect to the Internet, facilitating rescue operations, the Italian insurer said on Saturday. Torrential rains devastated the eastern side of the Italian region of Emilia-Romagna, killing 14 people, causing billions of euros worth of damage and…
Elon Musk’s SpaceX and Italy’s Unipol Join Forces to Help Italians Hit by Flooding
Truckers Face Bad Business Environment and Experts See It Getting Worse
Truck drivers and larger carriers are facing a tough business environment, which may get worse than it did during the Great Financial Crisis, according to a report. Freight demand has deteriorated over the last year due to a sluggish economy, and per-mile rates for drivers have plunged since the pandemic-era boom in 2021, which brought a…
Walmart Raises Profit Outlook After Strong First Quarter
Walmart on May 18 raised its annual sales and profit outlook as the nation’s largest retailer reported strong first-quarter sales results. The retailer’s low prices continue to draw budget-conscious consumers to snap up its groceries and other less-expensive, private-label goods. Groceries account for more than half of Walmart’s sales. The retailer said its groceries market share…
China on Brink of ‘Confidence Trap,’ Warn Citigroup Analysts
May 20, 2023
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Business & MarketsChina Business & EconomyChina NewsChinese economyChinese RegimeInvestmentlow consumer confidenceMarkets
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The Chinese economy is on the brink of being caught in a “confidence trap” as its post-pandemic recovery begins to slow. Low confidence combined with a slowdown makes it difficult for the Chinese Communist Party (CCP) to stimulate the economy using standard methods, such as interest rate cuts and infrastructure spending, warned Citigroup economists. China…
American Airlines and JetBlue Must Dissolve Their Partnership, Judge Rules
A federal judge in Boston ruled Friday that American Airlines and JetBlue Airways must abandon their partnership in the northeastern United States on grounds that the merger between the two carriers is anti-competitive and harms customers. The partnership between the two air carriers, a joint venture called the Northeast Alliance, was approved by the Transportation…
SBTL Advanced Materials Is Korea’s Leading Company in ‘Aluminum Pouch Film’ for Secondary Batteries
May 20, 2023
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Advanced MaterialsAsia & PacificBusiness & MarketsBusiness ColumnistsPouch FilmSBTLSponsored ContentWorld
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The secondary battery market for vehicles is expected to grow significantly as the electric vehicle (EV) market expands globally. Electric vehicle batteries use secondary batteries rather than primary batteries because they can be discharged and recharged multiple times. The need for advanced electric vehicle batteries is increasing thanks to demand from major international automakers. Secondary…
Value Investing Is Back
By Kim Clark From Kiplinger’s Personal Finance It looks like value stocks are making a comeback after being clobbered by growth stocks for about a decade. Value and growth stocks move in cycles. The 1980s were led by value stocks; the 1990s by growth. Value beat growth for seven consecutive years starting in 2000; then…
Elon Musk Demands Retraction of Article Alleging Stolen Election Claims ‘Thrive Unchecked’ on Twitter
Elon Musk has objected to an article by The Associated Press alleging that “false claims of a stolen election thrive unchecked on Twitter” even though Musk promised that tweets making such claims would be “corrected,” with the Twitter chief calling on the media outlet to back up its assertion with data or retract the piece….
Court Rules That California Race Law Is ‘Unconstitutional on Its Face’
May 20, 2023
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Business & MarketsCaliforniacivil rightsCompaniesESGFourteenth Amendmentracial quotasRegional & State NewsState NewsUSUS News
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In a landmark decision on May 17, a California district court blocked a state law mandating racial quotas on corporate boards as it violated the U.S. Constitution. The California law, AB979, required that a minimum number of people from “designated racial, ethnic, and LGBTQ backgrounds” have a seat on corporate boards. But the court ruling…
Troubling Trend: Marijuana Use Among US Workers Jumps To Historic Highs
May 19, 2023
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Business & MarketsDrug testseconomic policieseconomymarijuanaPolicies & ImpactsSocial IssuesUSUS Newsworkplace accidents
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American workers using marijuana on the job rose to a “historic” high last year, according to a new study. Diagnostic information service Quest Diagnostics released a report on May 18, analyzing over 6 million employee urine samples in 2022, and found that 4.3 percent of them were positive for cannabis, up from 3.9 percent in 2021….
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