The lack of nuclear deal didn’t suppress the Iranian oil exports
Companies that monitor the flows report that despite U.S. sanctions, Iranian oil exports reached new highs in the latter two months of 2022 and are off to a great start in 2023 thanks to increased shipments to China or Venezuela. Since ex-U.S. President Donald Trump withdrew from a 2015 nuclear agreement and reinstituted sanctions in…
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Why an FAA system failure stopped flights in the United States
After previously forcing all aircraft in the United States to be grounded due to a malfunction of the system that warns pilots of any obstructions before take-off, the Federal Aviation Administration (FAA) has now allowed some flights to resume.By early Wednesday morning, the outage had caused more than 600 cancelled flights and almost 4,000 delayed…
Upon word that Jack Ma was giving up control, shares of Ant-linked companies jump
Following news that Ant founder Jack Ma will relinquish control of the fintech behemoth following an overhaul, shares of registered Chinese companies with Ant Group as a significant stakeholder increased on Monday.Alibaba’s (9988.HK) Hong Kong-listed shares increased 7%.Along with Jilin Zhengyuan (003029.SZ), Longshine Technology Group Co Ltd (300682.SZ), Shanghai Golden Bridge Infotech Co (603918.SS), Hundsun…
Now, the most-capable executive after Musk is Tesla’s Chinese boss
Tom Zhu, the head of China for Tesla Inc. (TSLA.O), has been elevated to oversee directly both the company’s North American and European sales activities as well as its U.S. manufacturing plants for electric vehicles.The Tesla posting revealed that as of Tuesday, Zhu still held the position of vice president for the authority over Greater…
Large no-game pledges are a tricky card for Macau casinos to play
The question of whether Macau’s casinos will be able to properly comply with a government decree to diversify aside from their cash cow: gaming, is one that is highly important when they begin to use new licences to operate in the largest gambling hotspot in the world on Jan. 1.With their casinos in the Chinese…
China’s December production shrank significantly while COVID rose
In December, China’s manufacturing activity decreased for the third consecutive month and at its fastest rate in almost 3 years as COVID outbreaks spread throughout the nation’s production lines as a result of Beijing’s rapid rollback of anti-virus measures.The official purchasing managers’ index (PMI) decreased from 48.0 in November to 47.0 on Saturday, according to…
Tesla second-hand car price bubble burst, weighing on demand for new vehicles
For much of the last two years, Tesla customers who patiently waited for their new vehicle have had an odd option: keep the new electric car or sell it at a gain to someone who has less patience.However, the times of the Tesla flip are coming to an end, which could endanger the already declining…
The plan reveals Tesla would operate with decreased output in Shanghai in January
According to an inside schedule that was examined and evaluated, Tesla (TSLA.O) intends to run a restricted production plan at its Shanghai facility in January, extending the decreased output it started this month into next year.The reported schedule suggested Tesla will produce electric vehicles for 17 days in January, from Jan. 3 to Jan. 19,…
Tesla deploys its Shanghai chief and staff to boost US production
At a time when CEO Elon Musk has been preoccupied with Twitter, Tom Zhu of Tesla Inc. (TSLA.O) and a team of his subordinates have been called in to solve production concerns in the United States, stoking talk among colleagues that he is being prepared for a bigger position.Two persons with access to the situation…
In 2023, the United States is expected to start exporting crude oil
Over the past few years, the United States has emerged as a major exporter of crude oil, but since World War II, exports have not kept pace with imports. Next year, that might change.A record 3.4 million bpd – barrels per day of U.S. oil are being exported to other countries, along with around 3…