Tag: World News

Shell has opened the world's largest EV charging station in Shenzhen, China. The station has 258 charging points and solar panels that can generate 300,000 kilowatt-hours of renewable electricity per year. The station is a joint venture between Shell and Chinese EV giant BYD.

Taiwan detected a record number of Chinese warplanes around the island in one day, with 40 crossing the median line of the Taiwan Strait. The Taiwanese military condemned China's "continued military harassment" and warned that it could lead to a sharp spike in tension and worsen regional security. The United States has been increasing its military presence in the region in a bid to deter China from taking any aggressive action against Taiwan.

Vivek Ramaswamy, a 38-year-old Indian-American candidate for President of the United States, has refuted criticism that he is too young for the office. He pointed out that Thomas Jefferson was only 33 years old when he wrote the Declaration of Independence, and argued that the United States needs a leader who is "not afraid to revive the country's founding principles." Ramaswamy is facing an uphill battle in the Republican primary, but he is hoping that his message will resonate with voters.

Electric vehicles (EVs) are expected to reach price parity with fossil fuel models in Europe in 2024 and the U.S. market in 2026. EVs are also expected to account for two thirds of global car sales by 2030. This is being driven by the decline in battery prices, the growth of EV sales in Europe and China, and government policies that support the transition to EVs.

Toshiba's biggest shareholder is selling its shares to a company that wants to buy Toshiba. This is a good sign for the buyer, and if the deal is successful, it could have a significant impact on the Japanese economy.

Arm Holdings' IPO was a success, with retail traders placing more buy orders for the chip designer than for Tesla and Nvidia. The surge in retail demand underscores the appetite for potential winners in the artificial intelligence frenzy. The success of Arm's IPO is a positive sign for the broader IPO market and paves the way for more tech IPOs in the coming weeks.

Amazon opened its largest last-mile delivery center in Latin America in Mexico City. The 30,000 square meter facility will help Amazon to offer faster deliveries to customers in the city. Amazon has been investing heavily in Mexico in recent years, and the new delivery center is part of that effort. The company has already invested $3 billion in Mexico, and it employs more than 8,000 people directly and another 32,000 indirectly.

Ukrainian President Volodymyr Zelenskyy is expected to visit the United States to seek more military and humanitarian aid for his country, which is fighting a bloody war against Russia. The trip comes as Congress is debating providing as much as $21 billion in aid to Ukraine.

The global debt-to-GDP ratio fell in 2022 for the second year in a row, but the decline may be ending. The decline is due to strong growth and inflation, but it has only recouped about two thirds of the COVID-induced spike in global debt. China's debt burden has defied the moderating trend and is now similar to the United States. The IMF warned that debt is likely to rise again over the medium-term and urged governments to adopt strategies to reduce debt vulnerabilities.

The European Central Bank expects inflation to remain above its 2% target in 2024, suggesting that it may need to continue raising interest rates. The ECB is also facing concerns about a possible recession, but it is likely to continue raising rates in order to bring inflation under control.