Chinese Service Activity Improves as Index Hits 53.1 in December
(Markit) Output among service providers in China increased in the last month of 2021, with the activity index reaching 53.1 from 52.1 in November. Output in the service sector has…
Ford EV Sales Jump 121% YoY in Dec. in the US as Other Segments Fall
(Ford) Ford announced 12,284 sales of electrified vehicles in the US in December 2021, an increase of 121.1% from the prior year. The EVs grew at 36% faster than the…
US Crude Oil Inventories Below 5-Year Average After Falling by 2.1 Million Barrels
(EIA) US crude oil inventories plunged by 2.1 million barrels in the week that ended December 31 to 417.9 million barrels. Following the plunge, the crude inventories are now 8%…
Michigan Startup ONE Reveals It’s New Battery Lasted 752 Miles on Tesla’s Model S
(Reuters) Our Next Energy, a Michigan startup, says its new battery prototype covered 752 miles or 1,210 kilometres drive on Tesla's Model S. The drive-test, in late December across Michigan,…
CoinDesk Embroiled in Legal Battle With Tether on Reserves Backing Stablecoins
(CoinDesk) CoinDesk is set to square it out with Tether after the news entity petitioned to have access to documents showing the reserves supporting $78.4 billion worth of stablecoins. The…
Eurozone Economy Stumbled to a 9-Month Low in Dec. on Omicron Impacts
(IHS Markit) Eurozone’s Composite Output Index was at 53.3 in December, the lowest since March and below 55.4 in November. The decline in the output index reflected a resurgence of…
Largest Uranium Miner Kazakhstan Marred With Fuel Price Protests, Gvt. Resigns
(FT) The government of Kazakhstan resigned on Wednesday after protesters marched in cities declaiming against high fuel prices despite the country ranking as the world’s largest uranium producer. An economic…
Stellantis Chrysler Seeks to Manufacture Only Electric Cars by 2028
(Reuters) Stellantis Chrysler brand will line up only electric vehicles by 2028 as the company phases out gasoline-powered automobiles. The brand’s North American chief executive Chris Feuell expects the company…
Alibaba, Tencent Fined by SAMR in Another Tech Crackdown on Unreported Deals
(Reuters) China’s State Administration for Market Regulation has fined 500,000 yuan or $78,692 on Alibaba Group, Tencent Holdings, and Bilibili Inc. on alleged failure to report several deals. The fine,…
China Huarong Plunges 50% on Resumed Trading amid Growth Reassurances
(Reuters) China Huarong Asset Management Co. stock hit a record low on Wednesday, after falling up to 55% as trading resumed after a nine-month pause. Investors defied the bad loan…
US Manufacturing Expansion Eases by 2.4% in December
(ISM) US manufacturing PMI was recorded at 58.7% in December, down by 2.4 percentage points from the previous month. New Orders Index ticked down by 1.1 percentage points to 60.4%,…
OPEC+ to Proceed With 400,000 bpd Oil Output Hike, Says Outlook Is Bright
(OPEC+) OPEC+ has approved the 400,000 barrel a day increase in oil output scheduled for February, citing improved global outlook. OPEC+ cite rising traffic and factory activity in major Asian…
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