Tesla produced its first Cybertruck off the assembly line in Austin, Texas, over the weekend after two years of delays. The first Cybertruck finally rolled off the factory line on July 15 to much celebration at Tesla’s Gigafactory. Tesla CEO Elon Musk first announced the first prototype of the electric pickup truck back in 2019 to great…
Tesla Builds Its First Cybertruck Two Years Behind Schedule
July 17, 2023
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ANALYSIS: The Key to ESG: Controlling the Shareholder Vote
July 15, 2023
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During the discussion in which BlackRock CEO Larry Fink told his audience that his firm was “forcing behaviors” on companies whose shares it held, he also divulged a key lever of the progressive movement to control corporations: proxy voting. Fink told attendees at a 2017 New York Times conference that as an index fund manager,…
Hybrid Work Trend May Crash Commercial Real Estate Values By 2030, Says McKinsey
July 15, 2023
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
Worst Case Scenario: Hybrid Work Trends May Result in Office Space Demand Falling 38 Percent by 2030, Says McKinsey
July 15, 2023
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
Private-Equity Firms Are Buying Out Medical Practices and Raising Prices for Americans: Study
July 14, 2023
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Private-equity firms have been buying up individual physician practices at a rapidly increasing rate over the past decade and raising prices for millions of Americans, according to a study released this week. The rise in acquisitions by investor groups of market share in the health care industry are leading to higher treatment costs, the study showed. When private…
Small-Business Optimism Rises, but Inflation Concerns Remain Persistent
July 14, 2023
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American small-business confidence slightly climbed to a seven-month high last month, but concerns about inflation remain persistent, according to a recent report. Pessimism over the U.S. economy diminished sharply, while sales expectations improved, but a persistently tight labor market is continuing to concern analysts about future inflation rates. The National Federation of Independent Business (NFIB)…
Home Prices Hit Record High As Housing Supply Shortage Worsens
July 14, 2023
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Home prices hit a record high again in May, amid a worsening supply shortage in the housing market. The sharp jump in mortgage interest rates in last year caused an overheated housing market to slow down, but the slump did not last long. The cost for a home, which has been rising since the start…
Central Banks Are Increasingly Interested in CBDCs, Says BIS Survey
July 12, 2023
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At least 93 percent of central banks are already researching the implementation of central bank digital currencies (CBCD), according to a recent survey. Twenty-four central banks in emerging and in advanced economies are expected to have digital currencies in circulation by 2030, the Bank for International Settlements (BIS) said in a survey published on July…
Rising Number of Managers Reconsidering How ESG Standards Are Integrated Into Funds: HSBC Survey
A new poll by UK banking giant HSBC has found a rising number of managers are reconsidering how they integrate environmental, social, and governance (ESG) issues into their investment strategies. The findings come from the London-based lender’s survey of 310 professionals across the globe in roles related to ESG decision-making. The poll was conducted May 31–June 24, 2023….
Major US Banks to Report Biggest Jump in Loan Losses Since COVID Pandemic
The major U.S. banks are set to report the biggest jump in loan losses since the COVID-19 pandemic, as rising interest rates put mounting pressure on borrowers across the country. America’s top lenders are expected to release their second quarterly earnings reports this week, with JPMorgan, Wells Fargo, Citigroup, and BlackRock releasing theirs on July…
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