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The fact that China is now the largest customer is mainly because Europe has phased out its dependence on Russian natural gas in a few years. That policy is motivated by the Russian invasion of Ukraine in February 2022. It also plays a role in the fact that China is consuming significantly more gas this year to produce electricity, for example. Chinese households also consume more. It ensures...
Alfen, a leading EV charging station manufacturer, is undergoing a major reorganization that will result in a 15% reduction of its workforce, equating to approximately 150 job losses. This decision comes in light of a downturn in the electric vehicle (EV) market, where Alfen, operating both domestically and internationally, is facing declining sales. The reduction in sales has put significant pressure on the company’s profitability, necessitating cost-cutting measures,...
The Fed monitors this inflation rate closely when setting interest rates. This is the lowest inflation rate since February 2021. This means that US consumer prices were 2.5% higher last month than they were in August 2023. For example, food prices were 2.1% more expensive than a year ago. Both the US Federal Reserve and the European Central Bank (ECB) target an inflation rate of around 2%. In...
Mars, the American confectionery giant known for brands like M&M’s, Snickers, and Skittles, has announced the acquisition of Pringles maker Kellanova for approximately $36 billion (over 32 billion euros). The deal was confirmed by both companies on Wednesday, with Mars agreeing to pay $83.50 per share for Kellanova. This acquisition, one of the largest in the sector’s history, had been the subject of speculation earlier this month. Kellanova...
Workers at the Escondida mine in Chile, the world’s largest copper mine, have gone on strike after wage negotiations with BHP failed to reach an agreement. The union, representing 2,400 miners, demands better wages, shorter working hours, increased bonuses, and additional compensation for long-serving employees. The strike, which began on August 13, 2024, comes after the union rejected BHP’s offer, including a $28,900 bonus per worker. Escondida is...
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