Author: Press Room

Fahroni Electric vehicle stocks have been punished in 2023 as concerns over demand, pricing, and high interest rates have flipped the script on the Green Tidal Wave thesis. A partial list of year-to-date decliners includes Faraday Future Intelligent Electric (FFIE) -98%, Arrival (ARVL) -84%, Canoo (GOEV) -80%, Fisker (FSR) -77%, Arcimoto (FUV) -76%, Blink Charging (BLNK) -73%, Nikola (NKLA) -66%, REE Automotive (REE) -63%, Polestar Automotive (PSNY) -57%, Lucid Group (LCID) -31%, and NIO (NIO) -24%. While EV juggernaut Tesla (NASDAQ:TSLA) has defied the selling pressure with a 126% YTD gain, there are plenty of analysts such as Bernstein’s Toni…

Sen. J.D. Vance (R-Ohio) published to social media an open letter to the incoming president of Ohio State University, urging the new administrator to abandon “diversity, equity and inclusion” mandates.Vance, an alum of Ohio State, accused the school of using racial justice rhetoric to mask “racial hatred” in its hiring of personnel and curricula. “Today I wrote to the leadership of Ohio State, a university I love, to ask about the troubling rise of racial prejudice on campus,” Vance said of the letter on social media. “If universities keep pushing racial hatred, euphemistically called DEI, we need to look at their…

Peter Park was just 17 when he passed the California state bar exam.It made him the youngest person to pass the notoriously difficult test.Park, now 18, was sworn in as a practicing attorney on Tuesday. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app An 18-year-old from California who passed the state’s bar exam when he was only 17 is now working as a practicing attorney.The Tulare County District Attorney’s office announced the teen’s record-breaking achievement in a Facebook post, saying that it was a…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Iron ore prices have defied investors’ expectations and climbed by almost two-fifths since May, driven by a surge in Chinese steel production in spite of the near collapse of the country’s real estate sector.Prices for the bulk commodity, a crucial ingredient in steel, have climbed 38 per cent over the past seven months to $133.95 a tonne, Argus data shows. The rally has taken off since August. Analysts say the spark was Chinese officials telling steel manufacturers that an annual production cap…

© Reuters. NEW DELHI – The Insurance Regulatory and Development Authority of India (IRDAI) is gearing up to interview candidates for the crucial role of member finance, a position that became available following the end of Rakesh Joshi’s term earlier in November. Among the top contenders for this significant appointment are PC Kandpal from State Bank of India (SBI) and Rajay Kumar Sinha from SBI Capital Markets Limited (SBICAPS). The interviews are scheduled to take place in the third week of December and will be conducted by a panel that includes notable figures such as Vivek Joshi and Debashish Panda.…

As has increasingly been the case, LUV’s FA union along w/ AAL and UAL’s is comparing their expected compensation gains to what the pilots at the big 3 got – LUV is still negotiating w/ its pilots – rather than what flight attendants should get.Airlines have given eye-popping increases to pilots but they are a very different workgroup with very different economics, including a substantial shortage of pilots at least at the bottom end of the sector – to staff regional and low cost carriers which do not have the longhaul international route systems which can drive big salaries for…

The howls of protest against Univision began as soon as its interview with Donald J. Trump aired. A month later, they still haven’t stopped.To critics of Univision, the Nov. 9 interview — with its gentle questioning and limited follow-ups from the interviewer, Enrique Acevedo — has confirmed their fears since the traditionally left-leaning network merged with the Mexican broadcaster Televisa early last year in a $4.8 billion deal. The network, they said, was taking a troubling turn to the right under its new owners, who have a reputation for cultivating relationships with leading politicians in Mexico, where Televisa has been…

Google unveiled Gemini, its rival to OpenAI’s GPT-4 this week.Gemini outperforms GPT-4 in math, coding, and subject knowledge at its most advanced tier, Google says.Google also says it’s the first model to match human-level experts in a test of 57 subject areas.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app This week, Google unveiled Gemini, which already looks like a scarily smart rival to OpenAI’s GPT-4. Gemini consists of three different models that vary in size and capability. Its most advanced model, Gemini Ultra — which…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.UK online supermarket Ocado is ramping up the use of robotic arms to pick and pack groceries for shoppers at far faster speeds. Ocado Retail chief executive Hannah Gibson said that the company’s new warehouse in Luton, Bedfordshire, will double the number of robots with arms from 22 currently to 44 “in the very near future” during a tour of the 346,000 sq ft site which opened in September.The upmarket grocer’s new generation of machines, which was first unveiled in 2022, can…

© Reuters. NEW DELHI – The Indian Government, in partnership with the Reserve Bank of India (RBI), has announced the upcoming issuance of Sovereign Gold Bonds (SGBs) in two separate series. The Series III tranche will be available from December 18 to December 22, 2023, with an issuance date set for December 28. Following this, the Series IV tranche will open for subscription from February 12 to February 16, 2024, and will be issued on February 21. These bonds will be accessible for purchase through select banks (excluding Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited…