Adobe to Announce Q2 FY2024 Earnings Results on June 13

The Telegraph
Electric car sales tumble across Europe as demand plummets in Germany
Sales of electric vehicles (EVs) plunged across Europe last month, fuelled by a sharp drop-off in demand in Germany.
Reuters
Analysis-China's dumping probe to test resilience of Spain's pig farmers
MADRID (Reuters) -China's dumping probe into EU pork imports following duties slapped on Chinese EVs caught Spain's pig farmers on the hop this week, but the sector has shown it is resilient and is far less vulnerable than the bloc's car industry. Spain supplied 22% of China's imported pork in 2023, worth 1.2 billion euros ($1.29 billion), and stands to lose more than any of the bloc's members from the probe into underpriced pork after the EU took aim at China's subsidised electric vehicle imports last week. "It was like a shock of cold water, we didn't expect it," said Giuseppe Aloisio, general director of the National Association of Spanish Meat Industries (ANICE).
Bloomberg
Taiwan’s Cathay United Bank follows client money to Singapore
Cathay Financial Holding, Taiwan’s largest financial firm by assets, is hiring more staff in Singapore to follow shifting regional money flows as its clients expand their presence in Southeast Asia.
Reuters
Chinese automakers seek retaliatory tariffs on EU cars, state media reports
SHANGHAI/BEIJING/BERLIN (Reuters) -Chinese automakers have urged Beijing to hike tariffs on imported European gasoline-powered cars in retaliation for Brussels' curbs on exports of Chinese-made EVs, the state-backed Global Times newspaper said on Wednesday. In a closed-door meeting on Tuesday also attended by European car companies, China's auto industry "called on the government to adopt firm countermeasures (and) suggested that positive consideration be given to raising the provisional tariff on gasoline cars with large-displacement engines," according to the report. The meeting, organised by China's Ministry of Commerce, was held in Beijing and attended by SAIC, BYD , BMW, Volkswagen and its Porsche division, two people with direct knowledge of the matter said.
INSIDER
Russian arms manufacturers are 'scrambling to expand their production capabilities using whatever they can get,' expert says
Russia is expanding its weapons production by buying secondhand equipment through China in order to evade Western sanctions, a new report states.
AFP News
Despite sanctions, Russia still gets hands on Western goods
A Kansas businessman shipped banned avionics equipment to Russia through Armenia, the UAE and other third countries.- Third countries - The Kansas businessman, Cyril Gregory Buyanovsky, 60, pleaded guilty in December for his role in a "long-running scheme to smuggle sophisticated US avionics equipment to Russia", Assistant Attorney General Matthew Olsen said at the time.
The Daily Beast
U.K.’s Richest Family Spent More on Dog Than Paying Staff, Court Hears
The richest family in the United Kingdom is facing a reckoning in Swiss court over allegations that they subjected servants to deplorable conditions and engaged in outright human trafficking.Earlier this week, Swiss prosecutor Yves Bertossa accused four members of the Hinduja family of spending more per year on their dog than on pay for members of their staff.In the most egregious case, prosecutors said, a staff member was allegedly paid less than $8 “to work for up to 18 hours a day, seven days
Associated Press
Fisker files for bankruptcy protection, the second electric vehicle maker to do so in the past year
Electric vehicle maker Fisker filed for Chapter 11 bankruptcy protection, the second electric startup to do so in the last year as even industry leaders struggle to lure more buyers beyond the early adapters of the technology. Fisker Group Inc. said in a filing with the U.S. Bankruptcy Court in Delaware that its estimated assets are between $500 million and $1 billion. “Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently,” the company said in a prepared statement late Monday.
GOBankingRates
I’m an Average Middle-Class Retiree: Here’s How Much Savings I Have
Though your pre-retirement income alone isn't enough to determine if you'll retire comfortably, it certainly plays a role. For example, if you're earning a middle-class salary, the amount you allocate...
Reuters
Wolfspeed plant delayed as EU's chipmaking plans flounder
Wolfspeed has delayed plans to build a $3 billion plant in Germany, highlighting the European Union's struggle to increase semiconductor production and reduce its reliance on Asian chips. The planned plant in the state of Saarland, which would make computer chips used in electric cars, has not been scrapped entirely and the company is still seeking funding, a spokesperson said. But, having cut capital spending following weakness in the European and U.S. EV markets, North Carolina-based Wolfspeed is now focused on ramping up production in New York, the spokesperson added.
Investing.com
Crude settle higher ahead of fresh inventory data eyed
Oil prices settled higher Tuesday, as traders awaited fresh inventory to weigh up expectations for a pick up in demand as the summer season is underway. At 14:30 ET (18:30 GMT), the U.S. crude futures 1.5% to settle at $81.57 a barrel and the Brent contract climbed 1.3% to $85.33 a barrel. The latest forecast of U.S. crude stockpiles are due later in the session, with the American Petroleum Institute due to reveal its estimate, ahead of the official numbers on Thursday.
Reuters
Detroit Three automakers should exit China, leading analyst says
Legacy U.S. automakers such as Ford Motor and General Motors should leave the China market to preserve capital amid the costly electric vehicle (EV) transition, a leading auto analyst said on Tuesday. “I think you have to see the [Detroit Three] exit China as soon as they possibly can,” said John Murphy, Bank of America Securities analyst, at his annual presentation of “Car Wars,” a closely watched industry report. Murphy's guidance for the Big Three came during a discussion of the harsh cost-cutting measures they would have to take to be competitive with EV manufacturers like Tesla, as well as carmakers abroad.
Yahoo Life Shopping
Get DeWalt's bestselling drill for $99 (that's 45% off), plus more brand deals
Score top-of-the-line tools at rock-bottom prices, just in time for all your summer DIY projects.
GOBankingRates
Retirees Reveal the Smartest Money Moves They Made in Their Early Years
Retiring comfortably takes proper retirement planning, so the earlier you start the better. The amount you'll need largely depends on where you live. According to a recent GOBankingRates study...
Yahoo Finance Video
3 things Boeing can do to fix its problems: Leadership expert
Outgoing going Boeing CEO David Calhoun (BA) testified in front of a US Senate panel on Tuesday, addressing safety concerns within the company. Several heated exchanges between Calhoun and senators took place, including one where Senator Josh Hawley (R-MO) called out Calhoun's $33 million pay package while he is "cutting corners" and "eliminating safety procedures" for employees. Former Medtronic CEO Bill George joins Market Domination to give insight into Calhoun's testimony before Congress and what Boeing needs to do to fix its problems. When asked what he would do if he was CEO of Boeing, George responds: "First of all, I think you have to appoint someone who has an aeronautical background and has the courage to transform the company. But number one, move the company back to Seattle. That's its roots, that's its culture and by abandoning that, going to Chicago and now Arlington, Virginia, it's been a horrible mistake." He continues: "It's not just fixing the instance quality problem. You've got to revamp the entire quality and supply chain. They farmed out the fuselage manufacturing to Spirit Aero (SPR). That was a big mistake. They've got to reinstate top to bottom a quality culture. People that just try to fix an individual quality problems will always have more that pop up somewhere else. It's like whack a mole." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
Fortune
Raising Cane’s managers now make $175,000 as new laws and shortages push fast-food salaries to six figures
Post-pandemic retention issues and California’s mandatory pay law means that the infamously underpaying sector is finally paying up, coughing up six figures in some cases.
The Hill
EV-maker Fisker files for bankruptcy
U.S. electric-vehicle (EV) maker Fisker filed for bankruptcy Tuesday. The California-based electric car company unveiled its Ocean line of cars in 2021, which included a solar roof, a rotating touchscreen console and the ability to power an owner’s home in an emergency. In a memo Tuesday, Fisker, the subsidiary of Fisker Inc., said it was…
Reuters Videos
Kin of 737 MAX crash victims seek $25 bln Boeing fine
STORY: Families of the 346 people killed in two Boeing 737 MAX crashes are demanding that the jet maker face a fine of close to $25 billion.They put the request to the U.S. Justice Department on Wednesday. A lawyer for the families said the amount was justified, saying Boeing was guilty of the “deadliest corporate crime in U.S. history”. Earlier in the week, the families had gathered at Congress as company chief Dave Calhoun was grilled over the incidents. They weren’t mollified by his show of contrition: “I would like to apologize on behalf of all of our Boeing associates spread throughout the world, past and present for your losses.”Calhoun said Boeing took responsibility for the crashes, which were traced to a design flaw. But the families say the aerospace giant neglected known safety issues, and must face prosecution. “Strengthening the safety of the flying public is important, but there needs to be criminal charges for the people at the top, the people in the driver's seat who were responsible for 346 deaths, including that of my sister and every single face that you see here.''After the crashes in 2018 and 2019, Boeing agreed to a deferred prosecution deal with the DOJ, shielding it from criminal charges - if it promised to improve its compliance program.However, the department last month concluded that the firm had not honored all terms of the deal - something Boeing denies. Prosecutors now have until early July to decide whether to press ahead with a criminal case. They could also negotiate a plea deal with Boeing, or extend the deferred prosecution agreement.
Reuters
Beijing urges Britain to stop sanctioning Chinese firms over Russian links
China's commerce ministry said on Wednesday that it had urged Britain to stop sanctioning Chinese firms after the country sanctioned five Chinese companies over their links to Russia. Britain last week imposed its first sanctions targeting vessels in Russian President Vladimir Putin's "shadow fleet" that it said was used to circumvent Western sanctions on the trade in Russian oil.
The Telegraph
Civil service pensions: what they are and how they work
If you work in the public sector, you will have a workplace pension scheme like most other eligible employees in the private sector.

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Adobe to Announce Q2 FY2024 Earnings Results on June 13

Latest stories

Electric car sales tumble across Europe as demand plummets in Germany

Analysis-China's dumping probe to test resilience of Spain's pig farmers

Taiwan’s Cathay United Bank follows client money to Singapore

Chinese automakers seek retaliatory tariffs on EU cars, state media reports

Russian arms manufacturers are 'scrambling to expand their production capabilities using whatever they can get,' expert says

Despite sanctions, Russia still gets hands on Western goods

U.K.’s Richest Family Spent More on Dog Than Paying Staff, Court Hears

Fisker files for bankruptcy protection, the second electric vehicle maker to do so in the past year

I’m an Average Middle-Class Retiree: Here’s How Much Savings I Have

Wolfspeed plant delayed as EU's chipmaking plans flounder

Crude settle higher ahead of fresh inventory data eyed

Detroit Three automakers should exit China, leading analyst says

Get DeWalt's bestselling drill for $99 (that's 45% off), plus more brand deals

Retirees Reveal the Smartest Money Moves They Made in Their Early Years

3 things Boeing can do to fix its problems: Leadership expert

Raising Cane’s managers now make $175,000 as new laws and shortages push fast-food salaries to six figures

EV-maker Fisker files for bankruptcy

Kin of 737 MAX crash victims seek $25 bln Boeing fine

Beijing urges Britain to stop sanctioning Chinese firms over Russian links

Civil service pensions: what they are and how they work