manufacturing
France's industrial production fell further than expected at the beginning of the year, as the country's economy struggles to return to full strength amid the cost of living crisis. Total production across industries slumped by 1.1% in January compared to the previous month, according to new figures from Insee, France's statistical office. This is after economists surveyed by Bloomberg and the Wall Street Journal had forecast a drop of just 0.1%, as reported by both news outlets. Bogof! No more 'Buy one, get one free': France forbids supermarket mega sales Slower-than-expected inflation declin...
Euronews (English)
Toyota recently issued a recall for about 280,000 vehicles in the US. This was primarily due to a transmission issue which could potentially cause cars to keep moving forwards even when in neutral. The move mainly concerns 2023 and 2024 Toyota Sequoia SUVs, as well as certain Lexus LX 600 SUVs and Toyota Tundra pickups. The owners of the vehicles involved will receive notification of the recall by the end of April this year. According to the company, some parts of the transmission in these models are not instantly disengaging when the vehicles go into neutral gear. This means that engine power...
Euronews (English)
Two of Europe’s largest car makers Stellantis and Mercedes-Benz have raised about €4.4 billion to set up three new electric vehicle (EV) gigafactories across the European Union (EU) in the coming years. The companies said in a press release on Monday that the total funds needed for these factories is expected to be about €7 billion. Factories will be set up in Kaiserslautern in Germany, Termoli in Italy and another undisclosed location in France. Around 6,000 people are expected to be employed in total. BNP Paribas, ING, Deutsche Bank and Intesa Sanpaolo are among the banks that have financed ...
Euronews (English)
General Motors Co. has hired Kurt Kelty, a battery expert and former Tesla Inc. executive, as vice president of batteries, the automaker said Thursday. In the newly created role, Kelty will report to GM President Mark Reuss. Kelty is charged with developing a new end-to-end battery technology strategy, which will include the sourcing of raw materials, investment in new battery technologies and end-of-use opportunities. His team is responsible for bringing together GM's battery development resources to quickly deliver profitable, lower-cost, higher-performing EVs to customers at scale. “The fou...
The Detroit News
Emirates is planning to send engineers to monitor Boeing's production lines, Sir Tim Clark, the airline's president has revealed. The decision comes after a major incident on one of Boeing's 737 MAX 9 planes last month, when a cabin panel blew out during an Alaska Airlines flight. He had seen a "progressive decline" in Boeing's performance, the Emirates boss told the Financial Times. "They have got to instil this safety culture which is second to none. They've got to get their manufacturing processes under review so there are no corners cut," he added. "I’m sure Dave Calhoun and Stan Deal are ...
Euronews (English)
In the picturesque Yayladağ district of Türkiye, an environmentally conscious business owner, Ayşegül Taşkıran, manufactures sustainable fuel from the remnants of the laurel tree. Meet the team crafting pencils out of recycled newspapers in KenyaMeet the team turning marine trash into cash in FranceMeet the Indian eco-trailblazer who threw shade at corporate lifeHer company, Defne Pelet, uses discarded branches to form pellets that can be utilised as an energy source. Ayşegül tells SCENES, “No trees need to be cut down for pellet fuel production. We collect flammable forest waste, contributing...
Euronews (English)
The Turkish Business Confidence numbers for January 2024 were released on Thursday morning, clocking in at 100.9 this month, above the one-year low of 99.1 seen in December. This was mainly due to finished goods stocks rising from 95.2 in the previous month, to 95.3 in January. Total orders also inched up to 85.1 from 83.8. To note, a score above 100 indicates an optimistic outlook to the economic activities while below 100 points to a pessimistic outlook. Furthermore, production expectations for the next three months are also looking up, coming in at 108.6, a step up from December’s 102.5. In...
Euronews (English)
Major European economies expect improvement in their manufacturing sector, according to the latest flash purchasing managers’ indices (PMI) from Germany, France the UK and the Eurozone for January, which register sentiment among businesses. Although most of the data was fairly optimistic and showed advances from December, the majority of the numbers were still in contraction territory, sitting below 50. The services sector PMIs, however, suggested further deterioration across the bloc. Germany manufacturing PMI hits 11-month highThe German HCOB manufacturing PMI rose to 45.4 in January 2024, a...
Euronews (English)
Last year saw a positive result for the EU car market, with a solid 13.9% expansion over 2022 and reaching a total volume of 10.5 million vehicles, according to the latest figures from the European Automobile Manufacturers' Association (ACEA). Top markets included Italy (+18.9%), Spain (+16.7%), and France (+16.1%). In contrast, Germany, the largest market in Europe, saw a modest 7.3% rise year-on-year, influenced by its weaker performance in December. December marked the first month of contraction in the entire EU car market after 16 consecutive months of growth. A 3.3% decline was recorded i...
Euronews (English)
A bipartisan panel of Illinois lawmakers approved guidelines Tuesday covering how state police will maintain and enforce a registry of gun owners who possess high-powered firearms that are now banned. The requirement for residents who possessed guns covered by the ban before it took effect on Jan. 10, 2023, to register those firearms by Jan. 1 has been one of the law’s most controversial aspects. During Tuesday’s hearing of the Joint Committee on Administrative Rules, or JCAR, state police officials addressed issues raised by Republican legislators who oppose the ban that ranged from privacy f...
Chicago Tribune
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