Reports indicate that Apple is delving into AI-powered robotics, aiming to innovate within the home robotics sector. A Bloomberg article reveals that the tech titan is exploring two fascinating initiatives.
Mobile Robot
Apple is reportedly exploring the development of a robot that can accompany its owner. Envision a congenial AI companion that travels with you.
Robotic Display
The project aims to develop a robotic mechanism capable of moving displays. Despite being periodically removed and reinstated on Apple’s roadmap; it is still in the preliminary research stage.
The projects are spearheaded by Matt Costello, Apple’s VP of Hardware Engineering, and Brian Lynch, the Senior Director of Home Hardware Engineering. Moreover, Apple’s AI team is developing algorithms to enable robots to navigate homes, potentially linking to the mobile robot initiative.
Apple’s foray into AI-driven home robots comes after shelving its electric vehicle project, marking an intriguing development. The company is exploring the integration of AI into AirPods and the possibility of creating smart glasses. Despite not launching generative AI tools as swiftly as some rivals, Apple is set to introduce some later this year.
In the realm of robotics, Apple enters a field with established entities like Amazon, Roomba, and Unitree, which have already introduced home robotics products.
Therefore, it’s worth watching for upcoming Apple AI products in the future!
Chinese EV manufacturers such as BYD and smartphone maker Xiaomi are starting to inflict some damage to Tesla’s EV market.
Xiaomi has launched its first electric vehicle (EV) and started taking orders.
The company reportedly announced that the standard SU7 model would be priced at 215,900 yuan ($29,872; £23,663), while the Max version would be available for 299,900 yuan.
Xiaomi boasted over 50,000 orders within the first 27 minutes of sales.
Xiaomi’s foray into the electric vehicle market occurs amid a global slowdown in sales growth, sparking a pricing war.
This strategy positions the tech company against EV competitors such as Tesla and BYD. In China, the entry-level price for Tesla’s Model 3 stands at 245,900 yuan.
It was reported that the SU7 would have a minimum range of 700km (435 miles), beating the Tesla Model 3’s 567km.
The company is optimistic that the SU7’s unified operating system, which is compatible with its phones, laptops, and other devices, will attract current customers.
Xiaomi ranks as the world’s third-largest smartphone seller, holding approximately a 12% market share.
Numerous global EV manufacturers, including BMW, Audi, Nissan, and Hyundai, are encroaching on Tesla’s market share. Additionally, Chinese EV producers are entering the market with increasingly affordable alternatives.
The precious metal has reached consecutive record highs this year, including a peak on Thursday 4th April 2024.
The gold price surpassed $2,300 before slightly retracting. By early Friday, it was trading at approximately $2,278 per ounce.
According to some analysts, geopolitical and structural factors are setting gold on a trajectory to reach $2,600 per ounce within the next year.
The catalysts for its ascent and the potential for further increases in the near to medium term are widely debated among investors, particularly as the stock market continues to post strong gains.
Gold price over three months 2024
Gold price over three months 2024
The anticipation of interest rate reductions and central bank acquisitions has been instrumental in propelling the rally in recent months.
If the Fed were to indicate higher interest rates in its latest FOMC meeting, then gold and other assets will likely fall.
Eurozone inflation eased to 2.4% in March 2024, as indicated by preliminary figures released on Wednesday 3rd April 2024.
This decrease has increased expectations that interest rate cuts may start in the summer 2024.
Market analysts anticipate that the central bank will commence reductions in interest rates starting in June 2024, reflecting recent communications from the ECB.
Federal Reserve Chairman Jerome Powell stated on Wednesday 3rd April 2024 that policymakers will need time to assess the current inflation situation, leaving the schedule for potential interest rate reductions unclear.
Referring to the stronger-than-anticipated price pressures at the year’s onset, Powell reportedly stated that he and his colleagues are not in a hurry to relax monetary policy.
Market expectations are leaning towards the FOMC initiating policy easing this year, although adjustments to the anticipated timing and scale of reductions have been necessary due to persistently high inflation.
Meanwhile, other economic indicators, especially in the U.S. labour market and consumer spending sectors, remain robust, affording the Fed the opportunity to evaluate the prevailing situation prior to taking action.
Intel’s stock dropped by 4% during extended trading on Tuesday 2nd April 2024, following the disclosure of long-anticipated financial details for its semiconductor manufacturing division, often referred to as the foundry business, in a filing with the SEC.
The company reportedly disclosed that its foundry business incurred an operating loss of $7 billion in 2023, against sales of $18.9 billion. This represents a greater loss compared to the $5.2 billion operating loss reported by Intel for its foundry business in 2022, which had sales of $27.5 billion.
This is the first time that Intel has disclosed revenue totals for its foundry business separately. Historically, Intel has both designed its own chips as well as its own manufacturing and reported microchip sales to investors.
Other American semiconductor companies such as Nvidia and AMD design their microchips but send them off to Asian factories such as Taiwan’s TSMC for manufacturing.
Mumbai, India’s bustling financial hub, has achieved a remarkable milestone: it now reigns as Asia’s billionaire capital, surpassing Beijing for the first time
According to the Hurun Research Institute’s global rich list, Mumbai boasts 92 billionaires with a combined wealth of $445 billion. This historic feat marks the first time that India’s most populous city has claimed the top spot in Asia.
While New York (with 119 billionaires) and London (with 97 billionaires) lead the global rich list for cities, Mumbai’s ascent is a testament to its thriving energy and pharmaceutical sectors. The city’s entrepreneurial spirit and economic dynamism have propelled it to the forefront of wealth creation in the region.
Beijing, which previously held this distinction, now trails closely behind with 91 billionaires, followed by Shanghai with 87 billionaires. The competition among these financial powerhouses reflects the shifting landscape of global wealth distribution.
Globally, there are currently 3,279 billionaires, representing a 5% increase from 2023. China remains at the helm with 814 billionaires, despite a loss of 155 billionaires over the past year. The United States follows closely with 800 billionaires, while India claims the third spot with 271 billionaires.
Mumbai’s skyline, ever-changing, now reflects its title as Asia’s billionaire capital, highlighting the city’s resilience, innovation, and steadfast quest for prosperity.
The world’s energy landscape is experiencing an unexpected twist: an oversupply of natural gas.
As economies grapple with the aftermath of the pandemic, the gas market finds itself in a paradoxical situation.
The Glut Unveiled
Abundant Supply: The global gas glut stems from a surge in production. Countries like the United States, Russia, and Qatar have ramped up their natural gas output, flooding the market.
LNG Boom: Liquefied natural gas (LNG) projects have proliferated, adding to the surplus. New terminals and pipelines facilitate the movement of LNG across continents.
Demand Dilemma
Warmer Winters: Milder winters in key consuming regions such as Europe, the U.S., and Asia, have suppressed demand for heating. Gas storage facilities are brimming, leaving suppliers with excess inventory.
Geopolitical Tensions: Europe’s reliance on Russian gas has prompted diversification efforts. LNG imports from the United States, Australia, and other sources provide an alternative. However, the North Sea’s production limitations persist.
Price Plunge
Price Disparities: While wholesale gas prices in Europe and Asia have tumbled, mainland Europe still faces higher prices due to supply constraints. The U.S. market, despite its glut, operates differently.
Investment Paradox: Ironically, this glut coincides with record investments in LNG infrastructure. The mismatch between supply growth and demand dynamics baffles analysts.
Environmental Implications
Balancing Act: As gas prices dip, affordability improves for consumers. However, environmental concerns remain. Natural gas, though cleaner than coal, still contributes to greenhouse gas emissions.
Policy Challenges: Policymakers must navigate this delicate balance—ensuring energy security while transitioning to cleaner alternatives.
Conclusion
The global gas glut is a paradox: abundant supply alongside record investments. As we navigate this downward super cycle, energy markets remain unpredictable and interconnected globally.
Remember, while gas prices dip, the implications for our planet and energy policies are far-reaching. It’s a delicate balance between affordability and sustainability.
U.S. gold futures rose more than 2% to trade at around $2,285
Gold prices continued their ascent, reaching a new record high on Monday 1st April 2024, driven by expectations of U.S. interest rate cuts and the metal’s status as a safe-haven asset.
Gold typically has an inverse relationship with interest rates. When interest rates decrease, gold becomes more attractive relative to fixed-income assets like bonds, which tend to offer lower returns in a low-interest-rate environment.
The natural hydrogen gold rush is captivating attention worldwide as a potential game-changer in the quest for cost-effective, low-carbon energy sources.
Countries such as the U.S., Canada, Australia, France, Spain, Colombia, and South Korea are actively engaged in exploratory efforts for geological hydrogen.
What Is Natural Hydrogen?
Natural hydrogen, also referred to as white or gold hydrogen, is hydrogen gas that occurs naturally beneath the Earth’s surface. It is thought to form from high-temperature reactions between water and minerals rich in iron.
Unlike current hydrogen production, which is mainly produced using fossil fuel, natural hydrogen holds promise as a cleaner option.
Why the Hype?
Hydrogen is often reported as a potential energy source for transitioning away from fossil fuels. Yet, the methods used to produce it frequently result in substantial greenhouse gas emissions.
Green hydrogen, produced by splitting water into hydrogen and oxygen using renewable electricity, is an exception. Unfortunately, its development has been hindered by high costs and economic challenges.
Geologic hydrogen is a ‘natural’ hydrogen. Companies are now actively exploring this untapped resource. Countries like Australia, France, Spain, U.S., Canada, Colombia, and South Korea.
Research by Rystad Energy reportedly suggests that forty companies were actively searching for geologic hydrogen deposits by the end 2023. That’s up from just 10 in 2020. The term ‘white gold rush’ has emerged from this surge in interest.
Potential Impact
Advocates hope that natural hydrogen could be a gamechanger in the clean energy transition.
Although it’s not an entirely novel concept, interest in geologic hydrogen is gaining traction. Both researchers and corporations are eager to explore its possibilities.
As the exploration unfolds, the world looks on with eager anticipation. Hopefully natural hydrogen will play a significant role in shaping a more sustainable energy future.
The natural hydrogen will have to be mined and that in itself may bring environmental issues. Remember the concerns fracking created?
The Office for National Statistics (ONS) has released updated UK GDP figures, confirming that the UK entered a technical recession in the last six months of the previous year.
The new data shows the economy contracted by 0.1% in the three months from June to August 2023, with a further decline of 0.3% in the subsequent financial quarter from September to December 2023. The overall economy grew by 0.1% throughout 2023.
However, early signs suggest that the UK began to recover in January 2024, with initial data indicating some growth, and surveys suggesting this trend may have gained momentum into February and March 2024.
The Fed in March 2024, indicated for the markets to expect three interest rate cuts by the end of 2024 – but what if this didn’t happen?
The Federal Reserve’s decision to maintain interest rates in 2024 could have significant implications for the U.S. economy.
Fed cred –credibility would be the first to go!
The cost of borrowing would remain unchanged. This could discourage businesses from taking out loans for expansion or investment, potentially slowing economic growth. Consumers may also be less inclined to take on debt for major purchases, such as homes or cars, which could impact sectors reliant on consumer spending.
Value of the U.S. dollar could strengthen relative to other currencies. A higher interest rate typically attracts foreign investors seeking better returns, increasing demand for the dollar. While a strong dollar can benefit consumers by making imports cheaper, it can hurt exporters whose goods become more expensive for foreign buyers.
The decision could signal the Fed’s confidence in the economy’s health. By not lowering rates, the Fed may be indicating that it believes the economy can withstand higher borrowing costs without slipping into recession. This could boost investor confidence and potentially lead to increased market activity.
However, the decision could also exacerbate wealth inequality. Those with investments tend to benefit from higher interest rates, as they can earn more from savings and bonds. Conversely, those living paycheck to paycheck may not see any immediate benefit and could face higher costs if they need to borrow.
In conclusion, should the Federal Reserve decide to maintain interest rates in 2024 this could have a mixed impact on the U.S. economy.
The effects would likely be felt across various sectors, influencing everything from business investment and consumer spending, credit to the strength of the dollar and wealth inequality. As always, the actual outcome would depend on a multitude of factors, including the overall health of the global economy and domestic fiscal policy decisions.
The cocoa futures price for May 2024 delivery surged to an all-time intraday high of $10,080 per metric tonne Tuesday 26th March 2024
Cocoa prices have soared, hitting unprecedented highs. This dramatic increase has profound consequences for both consumers and the chocolate industry.
Chocolate enthusiasts might have to prepare for increased prices or changes in product sizes (or both), due to the persistent challenges in the cocoa market.
Historic Supply Deficit
The world is experiencing the most significant cocoa supply shortfall in over six decades. In West Africa, a key region for cocoa production, farmers are struggling with adverse weather conditions, diseases, and aging trees. These persistent problems have resulted in a critical reduction of cocoa supplies, and there appear to be no simple resolutions on the horizon.
Price Volatility
Recently, cocoa futures contracts for May 2024 delivery reached a record intraday peak of $10,080 per metric tonne. In the past year, cocoa prices have more than tripled, with a 129% surge in 2024 alone. Major chocolate producers have implemented hedging strategies to cope with price volatility and prevent the direct transfer of increased costs to consumers.
Impact on Consumers
Large chocolate companies, well-hedged last year, are reaching the limit of cost absorption. As cocoa prices rise, consumers might begin to feel the impact. The National Confectioners Association is collaborating with retailers to reduce costs and maintain chocolate affordability. Nonetheless, there’s a finite extent to which the impact of escalating cocoa prices can be lessened.
Future Outlook
The International Cocoa Organization predicts a supply shortfall of 374,000 tonnes for the 2023/2024 season, marking a substantial rise from the previous season’s 74,000-ton deficit. Experts caution that ‘the worst is yet to come,’ suggesting that cocoa prices may stay high due to persistent market challenges lacking swift solutions.
Possible Consumer Impact
With the ongoing surge in cocoa prices, consumers may encounter higher costs or “shrinkflation,” resulting in smaller chocolate bars. Manufacturers might alter their recipes to include less cocoa. Dark chocolate, known for its high cocoa content, could be most affected.
In summary, a mix of supply shortages, fluctuating prices, and industry limitations is pushing cocoa prices to record levels.
NVIDIA reportedly introduced about twenty or so new AI-driven tools tailored for healthcare at its 2024 GTC AI conference, securing partnerships with Johnson & Johnson and GE Healthcare for surgical and medical imaging applications.
For the AI chip pioneer, venturing into healthcare represents a decade-long development effort with substantial revenue possibilities.
The adoption of AI in drug discovery and research, a process that traditionally takes up to 12 years and costs billions, is accelerating rapidly.
The opportunities will be far reaching.
Nvidia one year chart
Dramatic price movement for Nvidia over a one-year period
The EV named ‘Seagull’ sub $10,000 price tag. This vehicle will likely take-off!
Global automakers are becoming increasingly concerned that Chinese competitors, such as the Warren Buffett-endorsed BYD, might saturate their EV market with cheaper EVs, potentially undermining local production and reducing vehicle prices.
Concerns have been raised that this could damage national automotive industries, and balance sheets. However, it would undoubtedly benefit consumers by providing more affordable entry-level electric vehicles.
The BYD Seagull, an all-electric hatchback manufactured in China, is priced at only 69800 yuan (under $10,000) and is said to be profitable for the rapidly growing Chinese automaker.
There’s fear among global automakers that BYD and other Chinese rivals could flood their markets, undercutting domestic production and vehicle prices.
The Chinese are coming to a town near you – it’s just business.
Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, is reportedly considering Bitcoin as a potential investment.
With an impressive $1.4 trillion in assets under management, the GPIF’s exploration of Bitcoin represents a notable departure from its conventional investment approach.
This development occurs during a significant increase in Bitcoin’s value, showcasing its potential as a profitable asset, despite its volatility. The GPIF is gathering information on Bitcoin, seeking academic research, analytical tools, and examples of investments. This inquiry demonstrates the GPIF’s willingness to consider innovative financial tools.
It is important to appreciate that although the GPIF is researching Bitcoin, it is not certain that they will invest in it. The decision will likely hinge on various elements, such as risk evaluation, market fluctuations, and regulatory factors.
The GPIF’s actions may influence other institutional investors to contemplate including cryptocurrencies in their portfolios. This event could significantly impact the global financial scene. With the world’s largest pension fund examining Bitcoin, the debate over cryptocurrencies as valid investments continues.
On Monday, 25th March 2024, the European Union initiated its first investigation under the new Digital Markets Act, targeting Apple, Alphabet, and Meta for potential tech legislation breaches.
Statement
“Today, the Commission has opened non-compliance investigations under the Digital Markets Act (DMA) into Alphabet’s rules on steering in Google Play and self-preferencing on Google Search, Apple’s rules on steering in the App Store and the choice screen for Safari and Meta’s ‘pay or consent model” – the Commission said in a statement.
China has reportedly prohibited the use of U.S. processors from both AMD and Intel in government computers and servers. The directive is designed to encourage the use of domestic alternatives.
Chinese government agencies are now required to choose ‘safe and reliable’ domestic alternatives for these chips. The sanctioned list features processors from Huawei and the state supported firm Phytium, both of which face bans in the U.S.
In addition to processors, China is now also restricting Microsoft Windows on government devices, opting instead for domestically produced operating systems.
These guidelines are part of a broader tech trade battles between China and the U.S. While the impact on Intel and AMD remains to be seen, it’s clear that China is taking aggressive steps to reduce reliance on U.S. built technology.
The global tech landscape continues to evolve, and these decisions have far-reaching implications for both countries and the industry as a whole.
U.S. and China trade tensions are unlikely to recede anytime soon.
This quote is about what you are made of – it’s about what is on the ‘inside’ and not the visible circumstances that surround you or your life on the ‘outside’.
Cold welding is a fascinating phenomenon that allows metals to bond in space
Cold Welding: In the vacuum of space, two metal pieces can fuse without heat or flame when they come into contact. This occurs because:
Metallic Bonds: Metals consist of positively charged ions immersed in a sea of free-moving electrons, which are essential for bonding atoms within the metal.
Oxide Layer: On Earth, metals typically develop an oxide layer on their surfaces due to exposure to air, preventing them from bonding directly.
In Space: Without oxygen in space to create an oxide layer, touching metal pieces can merge through their metallic bonds, forming one solid piece.
Practical Implications
In practice, such occurrences are rare on Earth due to irregularities and the presence of a protective oxide layer.
Even in space, this oxide layer persists unless it is intentionally removed. If it were to be polished away, the metals could indeed weld together.
Designers of satellites and spacecraft must take this into account when selecting metal components for space missions.
Designers of satellites and spacecraft must consider this when selecting metal parts for space missions.
Although it’s not as straightforward as magnets sticking together, cold welding in space is truly possible!
Japan’s Nikkei 225 index briefly surpassed 41000, reaching a new all-time high on Friday 22nd March 2024, as the nation’s inflation rate reportedly accelerated in February 2024. Other Asia-Pacific markets experienced declines.
The headline inflation rate in Japan for February 2024 was reported at 2.8%, an increase from the 2.2% recorded in January 2024. The core inflation rate, which excludes the cost of fresh food, also rose to 2.8% from the 2% reported the previous month.
In its monetary policy statement, the Bank of Japan (BoJ)stated that it aims to achieve the price stability target of 2% in a sustainable and stable manner.
The Nikkei retreated to close just below 41000, ending up at 40888
The Nikkei retreated to close just below 41000, ending up at 40888
A serious problem or a technical glitch? I call it the donut theory – where everything is perceived as good until… but it isn’t – when you can’t even buy a donut!
Recent issues highlight a growing problem
Due to a payment acceptance issue, the bakery chain Greggs has closed some of its outlets. Patrons encountered certain branches that were either shut or only accepted cash.
This incident comes after card payment systems failed at Sainsbury’s and Tesco on Saturday 16th March 2024, and at McDonald’s on Friday 15th March 2024, and at many other outlets over recent months. Instore shopping and home deliveries were all affected.
Failures
The recent system failures experienced by major UK retailers like Sainsbury’s, Tesco, and even McDonald’s have indeed raised concerns. While these incidents may seem isolated, they highlight broader issues related to technology infrastructure, reliance on digital systems, and the impact of such failures on businesses and consumers.
Potential implications and issues with system failures. We are so dependent on the ‘system’.
Dependency on Technology
Modern businesses heavily rely on technology for operations, from inventory management to payment processing. When systems fail, it disrupts daily operations, affecting customer satisfaction and revenue.
The recent incidents underscore the need for robust backup systems, redundancy, and thorough testing of software updates.
Customer Experience and Trust
System outages can frustrate customers who rely on these services. Delays in grocery deliveries or inability to pay via contactless methods can lead to dissatisfaction.
Trust in a brand can erode if such incidents occur frequently. Customers may seek alternatives or lose confidence in the retailer’s ability to provide reliable services.
Financial Impact
System failures can result in financial losses due to missed sales, refunds, and operational disruptions.
Companies invest significant resources in maintaining and upgrading their technology infrastructure. Failures can be costly both in terms of immediate losses and long-term reputation damage.
Cybersecurity Concerns
System glitches may raise questions about cybersecurity. While not all incidents are related to security breaches, any disruption can make consumers wary.
Retailers must continuously assess and enhance their security measures to protect customer data and prevent unauthorized access.
Supply Chain Vulnerabilities
Supermarkets are part of complex supply chains. System failures can impact suppliers, logistics, and distribution networks.
Ensuring resilience across the entire supply chain is crucial to prevent cascading effects.
Regulatory Compliance
Retailers must comply with regulations related to data protection, payment processing, and consumer rights. System failures could lead to legal and regulatory challenges.
Recent Cyberattacks and System Failures in the UK
Cyberattacks will all have malicious intent, such as accessing, changing, or destroying sensitive information; extorting money from users via ransomware; or interrupting normal business processes.
The digital age has brought unprecedented convenience and efficiency to our lives. However, it has also introduced new challenges, particularly in the realm of cybersecurity and system reliability. In the UK, several high-profile incidents have underscored these challenges. Here are ten recent serious cyberattacks and system failures that have occurred since 2022.
System Failures
NHS IT Failures: In December 2023, the Health Services Safety Investigations Body (HSSIB) reported that IT failures in the NHS have resulted in patient harm and even deaths. Urgent action is needed to address these issues.
Failing IT Infrastructure in the NHS: A report highlighted that the failing IT infrastructure is undermining safe healthcare in the NHS.
Failed Government IT Project: A failed government IT project to upgrade NHS computer systems in England ended up becoming one of the ‘worst and most expensive contracting fiascos’ in public sector history.
Abandoned NHS Patient Record System: In September 2013, an NHS patient record system, which would have been the world’s largest non-military IT system, was abandoned. The failed centralised e-record system cost the taxpayer over £10 billion.
Cyberattacks
Ransomware Attack on NHS: A ransomware attack on a software supplier hit the NHS across the UK, and there were fears that patient data may have been the target.
Ransomware Attack on Greater Manchester Police: The Greater Manchester police force fell victim to a ransomware hack, exposing details of officers’ name badges such as ranks, photos, and serial numbers.
Ransomware Attack on Royal Mail: The Royal Mail was affected by a ransomware attack.
Ransomware Attack on Capita: Outsourcing firm Capita was hit by a ransomware attack.
Ransomware Attack on Barts Health NHS Trust: The Barts Health NHS trust was affected by a ransomware attack.
Ransomware Attack on Redcar and Cleveland Council: In 2020, Redcar and Cleveland council fell victim to a ransomware attack and was locked out of its systems for almost three weeks.
Cyber-Attack on UK VoIP Providers: An ‘unprecedented’ and coordinated cyber-attack struck multiple UK-based providers of voice over internet protocol (VoIP) services.
Hackney Borough Council Cyber-Attack: Hackney Borough Council was hit by a cyber-attack which led to significant disruption to services and IT systems.
Exchange Email Hack: In March 2021, hundreds of UK companies were compromised as part of a global campaign linked to Chinese hackers.
Hacking of 23andMe Profiles: In December 2023, there was a hack of 6.9 million profiles at genetic test firm 23andMe.
Booking.com Customer Hacking: In November 2023, hackers increased attacks on Booking.com customers
And there have been many more. Whatever the reason; system failures or cyberattacks – the UK needs to seriously update and improve its resources and defences or suffer the serious consequences.
These incidents serve as a stark reminder of the importance of robust cybersecurity measures and reliable IT systems. As we continue to rely more heavily on digital systems, it is crucial that we learn from these incidents and take the necessary steps to prevent similar occurrences in the future.
Conclusion
In summary, while individual incidents may not indicate a systemic crisis, they serve as reminders for businesses and local authorities to invest in robust technology, disaster recovery plans, and proactive risk management. As technology continues to evolve, addressing these challenges becomes even more critical.
The U.S. has reportedly initiated a significant lawsuit against Apple, alleging that the technology giant has monopolised the smartphone market and stifled competition.
The Justice Department claims that Apple has misused its dominance over the iPhone App Store to ‘lock in’ customers and developers. The company is also accused of taking unlawful measures to obstruct applications perceived as competitive threats and to degrade the appeal of competing products.
Apple has pledged to ‘vigorously’ contest the lawsuit and refutes the allegations.
A slowdown in iPhone sales in China, the reported dumping of an EV project, no iPhone AI interface to speak of and now a U.S. lawsuit to defend. Is Apple’s ‘crown of dominance‘ slipping ever-so-slightly?
The surge in gold prices continues, reaching a new peak on Thursday 21st March 2024, with predictions of further increases as central banks around the world persist in acquiring significant amounts of bullion.
Some analysts believe the gold price could climb as high as $2300 per ounce in the latter half of 2024, particularly if the U.S. Federal Reserve lowers interest rates as anticipated. Currently, gold reached around $2209 on Thursday morning 21st March 2024.
Gold price movement over 1 month
Gold price movement over 1 month
Typically, gold prices have an inverse correlation with interest rates. When interest rates fall, gold becomes more attractive than fixed-income investments like bonds, which offer lower returns when rates are low.
On Wednesday, 20th March 2024, the three major U.S. indices soared to record all-time closing highs after the Federal Reserve decided to maintain rates and kept its ‘expectations’ for three rate cuts by the end of 2024.
The Dow Jones Industrial Average surged 401.37 points to close at 39,512. The S&P 500 finished at 5224, breaching the 5200 level for the first time. The Nasdaq Composite climbed 1.25% to end at 16369.
Federal Reserve
The Federal Reserve kept rates steady but announced plans for three reductions before the year’s end, echoing its previous projection from December 2023. However, the central bank noted that it requires more substantial evidence of inflation subsiding before commencing any interest rate cuts.
Futures continued their historic ascent into Thursday21st March 2024.
The tyre industry is marked by fierce competition, static growth, and slim profit margins. But that is about to change.
In recent years, the total market value has consistently hovered around $50 billion, with an annual growth rate of approximately 2%, according to research. However, the advent of electric vehicles (EVs) is creating new possibilities.
Due to their substantial weight and rapid acceleration, EVs typically wear out tires around 20% quicker than vehicles with internal combustion engines, research suggests. Additionally, the cost of these tyres is roughly 50% higher.
Additional technical challenges encompass mitigating tyre noise, which becomes significantly more discernible inside of an otherwise quiet electric vehicle (EV) and enhancing an EV’s driving range. Research conducted by Michelin reportedly indicates that tyre selection can influence an EV’s range by 10% to 15%.
Summary Electric Vehicle (EV) Tyre Wear
Weight and Acceleration: EVs are heavier due to their batteries, and they often have quick acceleration.
Wear Rate: On average, EV tyres tend to wear down about 20% faster than internal combustion engine (ICE) vehicle tyres.
Cost: EV-specific tyres can be more expensive, costing approximately 50% more than regular tyres.
EV tyres are more expensive, and you get less use from them – remember to factor this into your purchasing decision.
