Shotaro Tani of the Financial Times reports on the plan in place by the U.S. to break Russia's grip on the nuclear fuels market. He writes: Over the past three decades, US and European utilities became hooked on supplies of cheap enriched uranium from Moscow, which account for more than a fifth of the fuel needed to power their reactor fleets. Russia’s full-scale invasion of Ukraine in 2022 forced Washington to review its heavy reliance on Moscow. The US is devising a multibillion-dollar investment strategy designed to reboot its domestic industry, which was ravaged by a collapse in … [Read more...]
Archives for January 2024
U.S. Banks Reported Higher Credit Card Spending
Angel Au-Yeung of The Wall Street Journal is reporting the four biggest U.S. banks reported higher credit card spending in 2023, up from the previous year. She writes: From fuel and groceries to hotels and airline tickets, consumers are putting more purchases on credit cards—and taking longer to pay them off. The four biggest U.S. banks reported higher credit card spending in 2023 compared with the previous year. In fact, since 2020, credit card spending has steadily increased at three of the four. The exception is Citigroup, where credit card spending hit a recent peak in 2021. [...] The … [Read more...]
Citigroup to Layoff 20,000, Schwab Stock Down 24%
When Citigroup lays off 20,000 employees, as it announced last week it will do by 2026, then Your Survival Guy concludes: not all is right with the financial world. When Charle’s Schwab’s stock, the largest publicly traded U.S. brokerage, declines by 17% as it did last year and was down seven percent through Friday of this year, not all is good in the financial world. When Citi announced its exit from the municipal bond market, as it did recently, who will be the buyer of last resort as it was for so many? When Citi got into a Second Amendment battle, some states, Texas being the big … [Read more...]
Chinese Electric Automaker Introduces Lamborghini-Style Car
Selina Cheng of The Wall Street Journal tells her readers that the Chinese automaker BYD is expanding its electric vehicle lineup to more than 20 models in its push overseas and to outmaneuver Telsa. Cheng writes: HONG KONG overtook as the world’s top electric-vehicle seller by pumping out a range of affordable cars that gave Chinese drivers what they wanted: choice. Now it is moving into the luxury market as it prepares to take on the world. BYD is releasing the cars under a different brand, Yangwang, marking a strategy shift from relying on lower-priced runarounds to producing less … [Read more...]
Are European Malls Primed for a Comeback?
Mark Faithfull of The Robin Report tells his readers that malls have been through the mill: online retail, consumer recessions, retail bankruptcies, political and economic upheavals, the impact of the experience economy, and, let’s not forget the lockdown closures. Faithfull writes: The argument is simple: malls may not be the income powerhouses they once were but we’re still enduring their pain. Malls have been through the mill: online retail, consumer recessions, retail bankruptcies, political and economic upheavals, the impact of the experience economy, and let’s not forget, the lockdown … [Read more...]
New Round of Strikes Target Houthi Underground Storage Facility
Al Jazeera reports that the United States and the United Kingdom have launched a new wave of strikes on Houthi targets in Yemen as the Iran-aligned armed group continues to target commercial shipping in the Red Sea. They write: A joint statement from the two countries said they had carried out eight strikes on Monday night, with support from Australia, Bahrain, Canada and the Netherlands, targeting a Houthi underground storage site as well as missile and surveillance capabilities. “These precision strikes are intended to disrupt and degrade the capabilities that the Houthis use to threaten … [Read more...]
Demand and Supply Risks Driving Oil Prices Higher
Myra P. Saefong and William Watts report in MarketWatch that oil prices ended at their highest level in a month on supply risks and ‘positive risk sentiment.’ They write: Oil prices settled Monday at their highest level in about a month, finding support from ongoing risks to global supplies as a rally in U.S. equities lifted prospects for the economy and energy demand. Oil traders are “starting to realize, with the stock market breaking record highs, that it’s unlikely that we’re going to see an economic recession,” Phil Flynn, senior market analyst at The Price Futures Group, told … [Read more...]
How’s Vanguard GNMA with YTM of 4.6%?
If you hold Vanguard GNMA like I do, then you will be pleased to know, regardless of its price being down, that as of 12/31/23, its yield to maturity was 4.6%. Sure, it’s been a rough ride for its price from the aftershock of historic interest rate hikes. But as you all know, Your Survival Guy doesn’t get too worked up about prices. At today’s yields, legacy positions maturing will be invested at rates you can sink your teeth into. But what if interest rates spike from here? So what? As investors look at the landscape of the huge debt overhang, won’t interest rates have to go higher? Maybe. … [Read more...]
The Multibillion-Dollar Bet on Freight Industry
Cummins, Daimler, and Paccar are joining forces to build a plant in Mississippi that will make batteries for electric commercial trucks, reports Bob Tita of The Wall Street Journal. He writes: The U.S.’s biggest commercial truck and engine builders are betting that the freight industry is ready to swap diesel fuel pumps for battery chargers. The diesel engine maker Cummins and the truck builders Daimler Truck and Paccar plan to build a $2 billion battery factory in Mississippi to produce batteries for commercial trucks. The plant, which the companies will operate as a joint venture, is … [Read more...]
California Ports Record Year-Over-Year Increases
Paul Berger of The Wall Street Journal reports that labor peace and canal disruptions are helping bring back supply chains to California ports that previously drifted to the Gulf Coast and East Coast gateways. He writes: U.S. importers are rediscovering the lure of Southern California ports. Trade is swinging back to the ports of Los Angeles and Long Beach after a period in which pandemic-driven shipping disruptions and broader shifts in manufacturing pushed supply chains more heavily toward Gulf Coast and East Coast ports. The Southern California ports in September, October and … [Read more...]
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