American electric vehicle (EV) start-ups are dealing with falling demand, as buyers look elsewhere, or put off purchases entirely. High costs, quality-control issues, and supply-chain problems are taking a toll on the EV sector, according to the latest quarterly reports. Several EV companies reported a declining interest for some of their latest vehicles, while production…
Office Landlord Defaults on the Rise as Employees Continue to Work From Home
March 2, 2023
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Business & Marketscommercial real estateCompaniesdefaulteconomyInvestmentMarketsoffice landlordreal estateremote workSocial IssuesUSUS Real Estate
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Office landlord defaults are on the rise throughout the United States as employees continue to work from home. The list of major commercial real estate landlords defaulting on their loans is beginning to climb, as more developers begin to realize that American workers are increasingly preferring to work remotely or via a hybrid model, which may leave…
Tesla Plans Gigafactory in First Mexico Investment
MEXICO CITY—Tesla will open a gigafactory in Mexico, Chief Executive Elon Musk said on Wednesday, as the electric vehicle behemoth pushes to expand its global output. Mexico on Tuesday said Tesla had chosen the northern border state of Nuevo Leon for a new factory worth more than $5 billion, calling it the “the biggest electric…
LIVE 6 PM ET: Biden Delivers Remarks on His Administration’s and Congress’ Investments in America
March 1, 2023
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economyEpochTVEpochTV LiveHouse Democratic Caucusin AmericaInvestmentIssues Conference.Live VideosPresident BidenUSUS NewsVideo
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President Joe Biden delivers remarks at the House Democratic Caucus Issues Conference at 6:00 p.m. ET on March 1 about “historic investments” his administration and Congress made in America. …
Biden Delivers Remarks on His Administration’s and Congress’ Investments in America
March 1, 2023
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economyEpochTVEpochTV LiveHouse Democratic Caucusin AmericaInvestmentIssues Conference.Live VideosPresident BidenUSUS NewsVideo
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President Joe Biden delivers remarks at the House Democratic Caucus Issues Conference at 6:00 p.m. ET on March 1 about “historic investments” his administration and Congress made in America. …
UK House Prices Suffer Worst Annual Fall in a Decade, New Figures Show
March 1, 2023
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Business & MarketseconomyHouse Pricesinflationinterest ratesInvestmentmortgage ratesrecessionUKWorld
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House prices in the UK fell by 1.1 percent year-on-year in February, the biggest annual decline for more than a decade, according to new figures from the Nationwide Building Society. It was the biggest annual house price fall since November 2012, and the first annual decline of UK house prices since June 2020, when the…
The Clock Is Ticking
Commentary Recession indicators are becoming more insistent. Yet, the Federal Reserve remains focused on its inflation fight. As noted in “No Landing Scenario,” the Fed maintains a “hawkish” bias despite the markets not listening. As such: • “I wouldn’t rule out supporting a 50 basis-point March hike,” said James Bullard, president of the Federal Reserve…
Warren Buffett Preaches Confidence in America, Warns ‘Deficits Have Consequences’
In his annual letter (pdf) to Berkshire Hathaway shareholders, Warren Buffett touted his confidence in the U.S. economy while also warning about “runaway inflation” from the consequences of fiscal deficits over the last decade. Buffett, 92, encouraged investors to concentrate on the long term rather than short-term volatile conditions, arguing that betting against the United…
German Chemical Giant BASF to Close Factories Without Cheap Russian Gas
February 24, 2023
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BASFBusiness & MarketsCompanieseconomic policieseconomyenergyenergy pricesEuropeinflationInvestmentlayoffsMarketsRussia-Ukraine WarWorld
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The world’s largest chemical company is closing a number of its factories, as the era of cheap Russian gas grinds to a halt amid a deterioration in the global economy. BASF SE will cut 2,600 positions, about 2 percent of its global workforce, to save on operational costs, as the European Union’s biggest chemical firm is forced…
Core Inflation Soars to Record High in Eurozone
February 24, 2023
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Business & Marketseconomic policieseconomyEuropeEuropean Central BankeurozoneinflationInvestmentMarketsrecessionRussia-Ukraine WarWorld
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Core inflation soared to a record high in the eurozone in January, as the bloc’s energy crisis continues. The euro bloc is currently facing the worst energy crisis in decades, after the Russia–Ukraine war caused gas and oil prices to soar. Last month, Europe’s consumer price index showed inflation in the euro bloc hitting a…
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