Lufthansa to Cut 95% of Flights

Lufthansa to Cut 95% of Flights

Lufthansa to cut 95% of the fleet in survival mode. Three of the world’s leading airlines laid bare the devastation the epidemic is inflicting on air travel, with Deutsche Lufthansa AG and Delta Air Lines Inc. parking a total of 1,500...
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French Car Market Hammered 18%, Global Auto Industry In Meltdown

French Car Market Hammered 18%, Global Auto Industry In Meltdown

While China may have led the charge in dragging the global automotive industry deeper into recession than it already was pre-coronavirus, equally ugly numbers are starting to pop up in other parts of the world. For instance, the French car...
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Sweden Starts Testing of World’s First Blockchain-Based National Cryptocurrency

Sweden Starts Testing of World’s First Blockchain-Based National Cryptocurrency

Stockholm’s move comes amid growing concerns among governments, central banks and even intelligence agencies that cryptocurrencies could pose a major threat to traditional global financial structures and institutions backed by the dollar. Sweden’s Riksbank...
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EU Auto Registrations Plunge Into Abyss

EU Auto Registrations Plunge Into Abyss

For months we have been commenting about how the global auto market is mired in recession. Most recently, we have been highlighting how China, one of the world’s largest economies and auto markets, has been exacerbating things with terrible sales numb...
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Airbus steamrolled Boeing with record jet deliveries

Airbus steamrolled Boeing with record jet deliveries

Boeing’s European rival Airbus wants to break its own record and bring aircraft deliveries to a new all-time high in 2020, as the American planemaker continues to struggle with the aftermath of the 737 MAX crisis. Airbus’s clients received a...
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Billionaire Lawrence Stroll Rescues Iconic Aston Martin With $657M Bailout

Billionaire Lawrence Stroll Rescues Iconic Aston Martin With $657M Bailout

Confirmed by a London Stock Exchange filing on Friday morning, a group of investors led by Canadian billionaire, fashion tycoon, and Racing Point Formula 1 team owner Lawrence Stroll just took a 16.7% stake in Aston Martin for the British equivalent of...
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Trump Threatens to Slap 25% Tariffs on European Cars if No US-EU Trade Deal

Trump Threatens to Slap 25% Tariffs on European Cars if No US-EU Trade Deal

The Trump administration has long accused the EU of too much positive trade balance surplus and has clashed with its trans-Atlantic allies over state subsidies to manufacturers and taxes on US tech companies. Donald Trump on Wednesday renewed his threat...
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PSA Group’s sales slump 10% in 2019

PSA Group’s sales slump 10% in 2019

French carmaker PSA Group (Peugeot Citroen Opel) said on Thursday global sales fell 10% last year to 3.49 million units, compared with a record 3.88 million in 2018, as it suffered from declining volumes in China, the Middle East and...
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Nissan and Renault dismiss reports of possible break-up

Nissan and Renault dismiss reports of possible break-up

French carmaker Renault and Japanese partner Nissan said on Tuesday their alliance was in no danger of being dissolved. The announcement follows a Financial Times report that Nissan was beefing up plans to quit. The alliance, which also includes Japan’s...
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Airbus Deliveries Soar To Record High As Boeing’s Fades

Airbus Deliveries Soar To Record High As Boeing’s Fades

A new report from Reuters specifies how Airbus locked in a record number of aircraft deliveries in Dec. to exceed full-year delivery targets while outshining troubled Boeing in becoming the world’s top planemaker. By midnight on New Year’s Eve, A...
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What would real house prices look like in a world without bubbles?

What would real house prices look like in a world without bubbles?

The Great Recession was not caused by a the bursting of a housing bubble, because there was no bubble.  It was caused by tight money supply. Unaffordable housing is the macroeconomic story of our time. It is interesting that housing...
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Mercedes-Benz owner Daimler to cut 10,000 jobs and Audi to cut 9,500

Mercedes-Benz owner Daimler to cut 10,000 jobs and Audi to cut 9,500

Daimler, the German carmaker that owns Mercedes-Benz, has said it will shed at least 10,000 jobs worldwide as it seeks to fund the switch to electric cars. Daimler personnel chief Wilfried Porth told journalists the number of jobs lost would...
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French luxury giant LVMH buys iconic American jeweler Tiffany for over $16 Billion

French luxury giant LVMH buys iconic American jeweler Tiffany for over $16 Billion

The world’s leading luxury group LVMH has agreed to buy a 182-year-old US jeweler Tiffany & Co. for $135 per share in cash. The $16.2 billion deal will become the largest luxury-goods deal ever. “The acquisition of Tiffany will strengthen...
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Airbus wins orders for 170 aircraft

Airbus wins orders for 170 aircraft

Airbus has won $30bn (£23bn) worth of orders for 170 aircraft in another sign of the continued expansion of Middle East airlines. On the second day of the Dubai Air Show, Emirates announced the purchase of 50 Airbus A350-900 XWBs...
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Fiat Chrysler in merger talks with French automaker Peugeot

Fiat Chrysler in merger talks with French automaker Peugeot

FCA – Fiat Chrysler and Peugeot owner PSA Groupe are in merger talks, the companies confirmed Wednesday. The companies issued separate, nearly identical statements, signifying a coordinated messaging strategy, with Italian-American automaker FCA addin...
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