Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Uber & Arrival plan to launch electric vehicles for ridesharing

Published

on

U.K. startup ‘Arrival’ is preparing to build electric buses and delivery vans with Uber

Arrival is parterning with Uber to build the ‘Arrival Car’ – a low-cost electric vehicle for ride-sharing.

Arrival and Uber said in a joint statement the Arrival Car will be an “affordable, purpose-built electric vehicle for ride-hailing,” with production set to begin in 2023.

Uber plans to go electric

Uber plans on offering rides exclusively with electronic vehicles in London by 2025.

The company also plans to sign up 20,000 more drivers in Britain. This comes as the lifting of COVID-19 restrictions boosts demand.

The company has raised more than $188 million to help its drivers in London upgrade to an electric vehicle.

“Our focus is now on encouraging drivers to upgrade to an electric vehicle, and our partnership with Arrival will help us achieve this goal.”  

Jamie Heywood, Uber regional manager for northern and eastern Europe

Uber and Arrival say the car will prioritise “driver comfort, safety and convenience, while ensuring the passengers enjoy a premium experience.”

Arrival: the electrical vehicle startup founded by Russian billionaire

Arrival is a UK-based electric vehicle startup founded by Russian billionaire Denis Sverdlov.

Most EV companies like Tesla invest hundreds of millions of dollars to build new factories. However, Arrival plans to subvert this practice by using local factories and existing warehouses.

Arrival will use the money saved in this way to offer low-cost EVs. The company has three factories under development – one in the UK and another two in the US.

Arrival car by Uber

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Money

Aussie job market defies expectations with stable 4.1% unemployment rate

Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.

Published

on

Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.


Australia’s unemployment rate held firm at 4.1% in May, despite a small drop of 2,500 jobs—falling short of forecasts.

But dig deeper: full-time jobs jumped by nearly 39,000, underemployment hit post-COVID lows, and female participation reached a record 60.9%.

With labour market resilience still strong, the Reserve Bank is unlikely to be swayed—though markets see an 80% chance of a July rate cut.

The RBA remains in a balancing act, cooling inflation, without choking growth.

Subscribe for more at https://www.youtube.com/@UCiMroZIXuwlSh1r5wZdeU6Q

#RBA #JobsData #AustraliaEconomy #Unemployment #InterestRates #LabourMarket #tickernews

Continue Reading

Money

Central banks struggle with economic uncertainty and rates

Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

Published

on

Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

In Short:
Central banks are grappling with economic uncertainty, prompting various interest rate cuts globally to stimulate growth. Many central banks, including those in Norway, Sweden, and Japan, are adjusting rates in response to inflation and trade concerns, while others like the Federal Reserve and the Bank of England are considering future cuts.

Central banks are facing significant uncertainty concerning economic growth and inflation, making their policy decisions increasingly challenging as they approach the end of their rate-cutting cycles.

This uncertainty is also impacting investors. Recently, Norway’s central bank surprised markets with an interest rate cut, while the U.S. Federal Reserve cautioned against relying heavily on its policy projections.

The Swiss National Bank responded to decreasing inflation and economic unpredictability by reducing its benchmark rate to 0% but may consider further cuts. The Bank of Canada has maintained its rate at 2.75%, suggesting a potential future cut in light of tariffs affecting the economy.

Sweden’s central bank cut its key rate as well, aiming to stimulate growth amid weak price pressures.

In New Zealand, expectations are for rates to remain steady after a recent reduction to protect its economy from global trade uncertainties. The European Central Bank has also cut rates, considering further adjustments to meet inflation goals.

The Federal Reserve is keeping rates steady, although further cuts are anticipated due to low inflation. In Britain, the Bank of England held rates but may continue cuts in response to weak labour indicators.

The Reserve Bank of Australia is prepared for rate cuts due to weak growth data and trade tensions, while Norway’s central bank has been cautious with its recent decision. The Bank of Japan remains the only bank in a tightening phase, balancing escalating tensions and tariff concerns with its monetary policies.

Continue Reading

Money

Fed signals slower cuts amid rising risks

U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.

Published

on

U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.


At its latest meeting, the U.S. Federal Reserve revised its economic forecasts downward, with growth trimmed, inflation nudged up, and unemployment expectations now higher.

Despite this gloomier outlook, the Fed still sees two rate cuts in 2025, but just one in 2024 and one in 2026, a major dial-back from earlier projections.

Subscribe for more at https://www.youtube.com/@UCiMroZIXuwlSh1r5wZdeU6Q

#FederalReserve #InterestRates #JeromePowell #Inflation #USEconomy #FedMeeting #tickernews

Continue Reading

Trending Now