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Path to US EV adoption lies in affordability and product diversity - Bernstein
Investing.com - Bernstein analysts conducted a comprehensive survey of 1,200 US consumers, aiming to understand their vehicle preferences and purchase intentions.The findings, for the most part, alignInvesting.com
Jul 2, 2024
Tesla rallies as Q2 deliveries beat estimates, ease Model 3/Y supply glut jitters
Investing.com -- Tesla reported Tuesday second-quarter electric vehicle deliveries that were better-than-expected, and well above the number of vehicles produced, pointing to improved demand that likeInvesting.com
Jul 2, 2024
Goldman: Hedge funds sold global equities at the fastest pace in two years in June
Hedge funds continued to sell global equities for a third consecutive month in June, marking the fastest pace of selling since June 2022, according to Goldman Sachs’ prime brokerage desk. The sales weInvesting.com
Jul 2, 2024
Savory and Partners Founder shares insight on Historic Caribbean Citizenship by Investment Memorandum
Dubai, UAE - June 30, 2024 - (SeaPRwire) - The Caribbean Citizenship by Investment (CBI) programs are experiencing substantial changes as Western nations aid Caribbean governments in strengthening their regulations. In response to the coming changes, Savory & Partners readies their plans, with founder Jeremy Savory offering his experience as a guiding light.Jeremy Savory speaking to investors on global mobility at an event held in the US recentlyThe highly-competitive era of golden passports has apparently come to a close, with veteran companies like Savory & Partners standing at the forefront of this monumental event. On March 20th, 2024, four Caribbean countries signed a memorandum of agreement (MOA) establishing a minimum investment threshold of $200,000. With the deadline set for June 30th, investors are maximising the last opportunity to apply at the current pricing thresholds. To help shed light on the potential implications of these policy changes, Jeremy Savory, founder and CEO of leading residency and citizenship by investment firm Savory & Partners expresses his opinion.The agreement itself will be effective by June 30th, 2024 - with all five Caribbean nations on board. This significant milestone follows last year's collective agreement on the treatment of denials across the five Caribbean states, mandatory interviews for applicants, and regular audits of the programs.Impact of Tightened Regulations on Caribbean StatesWhile the international community campaigns for improved citizenship processing, in the medium to long-term, the nations themselves stand to benefit greatly from the more unified approach. When questioned on the intention of the new protocols and their potential benefits, Savory states; "The idea to harmonise the objectives of the five nations without compromising on price or security protocols is a strategic move. In the short-term, Q3 might experience a drop-off in applicants due to the rush in Q2 to meet the price hike deadline. From Q4, I foresee a gradual increase in government revenues, paired with lower strains on processing volumes resulting in an overall positive experience for applicants and satisfying the requirements of the wider international community… a "triple win" if you will."For many, the memorandum is viewed as a historic moment of unity among the countries - aligning after so many years of competing with one another is a positive move to temper internal and external attacks on the sensitive domain of second citizenship in a year of unprecedented global instability. Future Trajectory of Caribbean Citizenship ProgramsSpeaking in response to queries on the potential future of citizenship by investment programs after the memorandum, Savory states, "It's bright. The Caribbean nations have established a level playing field by ending the price war, safeguarding the value of their citizenship offerings and thereby ensuring a higher calibre of applicants who will feel safer in the knowledge their citizenship investment's value is protected."With the promotion of more healthy alternatives to the previous market environment, Savory explains that the main point of distinction between the citizenship programs will eventually lie in the varying benefits they offer. "The market will start to differentiate each country's merit using criteria such as worldwide consular infrastructure, pricing on various family sizes, processing times, pricing and benefits of government-approved real estate options. An important deciding factor will also be the number of countries with visa-free access – for example, some programs offer China and Saudi Arabia in addition to the UK and the EU, while other programs don't," he says.Potential Impact on the Global Residency MarketWith such significant changes to the pricing and regulations of the Caribbean citizenship by investment programs, following on from price increases and changes in the European Golden Visa Programs, the future of the global citizenship and residency market has created a healthy debate. When questioned on his personal analysis, Jeremy Savory states; "There will be a knock-on effect across the world as the European Golden Visa Programs have already moved towards increased prices with Portugal Golden Visa increasing thresholds in 2023 and Greece due to increase on September 30th, 2024. With the new Caribbean pricing comparable to the €250,000 required for the Portugal Golden Visa – Artistic and National Cultural Heritage option or the €250,000 Hungary Guest Investor Visa Residency Permit launching in July 2024, investors will be spoilt for choice." The Caribbean and Global Mobility2024 is a year of substantial instability combining pivotal elections in major nations, multiple civil and international conflicts, against a backdrop of increased global populism and trade wars. This uncertainty has unsurprisingly piqued interest in sovereignty solutions; second passports offering the comfort of global mobility, a hedging strategy against political, geographic, and financial headwinds.Speaking on the Caribbean price memorandum in this context, Savory concludes, "Years of experience has shown me that in turbulent times the cost of a legal alternative citizenship is so invaluable it can only be quantified by those that have it in their hand. People want greater control over their personal and professional lives, a lot of which is fairly or unfairly impacted by their nationality. Therefore, demand for second citizenship and residency programs will continue for the foreseeable future. Countries realise this; hence new programs will launch, albeit with potentially more genuine links/residency, talent-based, startup, business incubation, affordable housing variations rather than strictly capital-based."About Savory & PartnersSavory & Partners is an award-winning citizenship and residency by investment company headquartered in Dubai, with more than 60 global mobility experts across offices in 7 countries. The company has coverage in over 20 jurisdictions, including Europe, and was the first firm to obtain all five authorised agent licenses for the governments of the Caribbean Islands. With over 14 years of experience, it has successfully processed second passports for thousands of applicants from more than 70 different nationalities.Contact InformationBrand: Savory and PartnersContact: Media teamEmail: info@savoryandpartners.comWebsite: https://www.savoryandpartners.comSOURCE: Savory and Partners02/07/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Jul 2, 2024
Reshaping the Manufacturing Benchmark: How CIMC Vehicles Leads the Breakthrough in Traditional Industries with New Quality Productivity
(2 July 2024, Hong Kong) As the global leading semi-trailer manufacturing industry for 11 consecutive years, CIMC Vehicles (Group) Co., Ltd.’s (“CIMC Vehicles” or the “Company”, Stock code: 301039.SZ) robust performance growth and relentless innovation have been under the industry's spotlight. However, facing complex situations with domestic demand slowing down, limited application of cutting-edge technology in traditional manufacturing, and severe low-quality competition, how CIMC Vehicles maintains its leading position and leads the industry towards high-quality development has become a central concern in the sector.Addressing this significant issue, Li Guiping, CEO and President of CIMC Vehicles, systematically elaborated on his insights and proposed a “prescription” in a recent external interview. He pointed out that new quality productivity is not just a manifestation of technological innovation but also a comprehensive reflection of organizational reform within enterprises, optimization of resource allocation, and more. CIMC Vehicles will firmly grasp the core of new quality productivity to lead the industry's breakthrough, providing more valuable references for the traditional manufacturing industry to achieve transformation.CIMC Vehicles has always focused on the research and development of innovative design and production technology. In response to the inefficient production capacity issues in the industry, CIMC Vehicles has launched the “Star-chained Manufacturing Network”, focusing on integrating resources from its seven manufacturers to establish a new type of semi-trailer production organization. This new production organization will encompass key value chains, including procurement, production, circulation, and distribution.The “Star-chained Manufacturing Network” utilizes a multitude of digital technologies, such as achieving innovation in semi-trailer design through digital design and PLM platforms and realizing centralized procurement of core components on the EPS platform. At the same time, the management of core components and the global supply chain is decoupled from specific manufacturing plants to enhance delivery efficiency.Furthermore, CIMC Vehicles is now exploring partnerships with leading tractor manufacturers to create a business model of “Excellent Tractors with Excellent Trailers”. The Company offers customers combinations of “tractor and semi-trailer”, which represents not only a structural reform in production organization but also a profound integration of new technology with business models. These measures have not only enhanced the product quality and market competitiveness of CIMC Vehicles but have also provided robust support for the healthy development of the entire industry.Meanwhile, Li Guiping stated that the key approach to building new quality productivity is to drive structural reforms within a production organization and reallocate resources. Taking “Star-chained Manufacturing Network” as an example, the Company has established a promotion committee to develop a new production organization based on its vision and roadmap. Within this new organizational structure, the Company retains its existing factories but reconfigures the production lines based on new technologies, creating workstations centered around extensive array of advanced manufacturing equipment to align with digital design trends.However, this transformation also brings challenges, such as employees potentially not being accustomed to the new workstations or lacking an understanding of the digital modular product design process. Therefore, the Company has established a stable mid-platform, such as the Global Semi-Trailer Technology Headquarters, to consolidate and train engineers to ensure their skills are updated. At the same time, it has set up agile operational centers, such as the Star-chained Semi-Trailer Annual Model Center, to quickly respond to the demands of the “Star-chained Manufacturing Network” launch and iterate the annual model. In addition, the Company has also established production training centers at the factory level to help production workers adapt to the new environment and re-establish KPIs to revitalize employee motivation.Since the “second venture”, the Company has actively expanded into overseas markets within the context of globalization. By focusing on local manufacturing, sales, and services, the Company's overseas enterprises have not only perfected the global semi-trailer business layout but also fully utilized CIMC Vehicles' comprehensive global supply chain and core component production organization, achieving a significant improvement in production efficiency.Take SDC as an example. Despite facing challenges in the early stage, it has successfully enhanced production efficiency and performance through transformation and upgrading, relying on the global supply chain and production organization. This has allowed SDC to maintain robust growth and set a record for profitability even under inflationary pressures. Currently, CIMC Vehicles has fully established an “Intercontinental Operation” development pattern, with business covering more than 40 countries and regions, and has 21 “Light Tower” plants both domestically and internationally.Through this exclusive interview, CIMC Vehicles has conveyed the Company's profound understanding and firm belief in new quality productivity. Li Guiping's insights and experience hold enlightening significance for the development of the entire manufacturing industry. Under the current economic situation, the manufacturing industry faces the urgent task of transformation and upgrading. Only by continuously innovating, deepening reforms, optimizing resource allocation, and employing various methods to build new quality productivity can achieve high-quality development and gain an advantage in market competition.Looking ahead, CIMC Vehicles will steadily base itself in the new stage of development, fully implement the new development philosophy, and continuously deepen the implementation of the “Star-chained Manufacturing Network”. Continuing to promote the strategic layout of “Intercontinental Operation, Local Manufacturing”, the Company is committed to building a more comprehensive new development pattern, accelerating the forging of new quality productivity to meet challenges, seize opportunities, and boldly move forward towards the starry sea of the third venture.- End -About CIMC Vehicles (Group) Co., LtdCIMC Vehicles (Group) Co., Ltd. (“CIMC Vehicles”, Stock code: 301039.SZ) is the world’s leading sophisticated manufacturer of semi-trailers and specialty vehicles. It is a pioneer in the high-quality development of road transport equipment in China, and an explorer and innovator in new energy specialty vehicles in China. According to the 2023 Global OEM Ranking List published by Global Trailer, CIMC Vehicles ranked first among semi-trailer manufacturers in the world, for the eleventh year in a row.Each business or group of the Company continues to upgrade and iterate. The Company now operates “Star-Chained Light Tower Pioneer Group”, “North American Business”, “European Business”, “Champion Tanker Business Group” and “Dump Truck and Heavy Cargo Truck Business”, covering four major markets in the world, more than 40 countries and regions, and had 21 “Light Tower” Plants at home and abroad.For enquiries, please contact LBS Communications Consulting Limited: Joanne Chan Tel: (852)3679 3671 Email: jchan@lbs-comm.com Jason Ho Tel: (852)3752 2675 Email: jho@lbs-comm.com 02/07/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Jul 2, 2024
Barry Diller considers bid for Paramount after Skydance deal falls through- NYT
Investing.com-- Billionaire Barry Diller is considering a bid to take over Paramount Global (NASDAQ:PARAA), after the studio, which he formerly led, pulled out of a merger with Skydance Media, the NewInvesting.com
Jul 1, 2024
