Egypt has tested a new 10-kilometre (6.2-mile) extension to the Suez Canal as it tries to minimise the impact of currents on shipping and increase the key waterway's capacity. ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for Two ships used the new extension on Saturday, a statement from the Suez Canal Authority said. Authority chief Osama Rabie said the development in the canal's southern region will "enhance navigational safety and reduce the effects of water and air currents on passing ships". Vessels navigating the waterway have at times run aground, mostly because of strong winds and sandstorms. In 2021, giant container ship Ever Given became wedged diagonally in the canal, blocking trade for nearly a week and resulting in delays that cost billions of dollars. Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrows Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Strategy Succession Planning Masterclass By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd. View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) AI and Analytics based Business Strategy By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI View Program Web Development A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital Marketing Masterclass by Pam Moore By - Pam Moore, Digital Transformation and Social Media Expert View Program Artificial Intelligence(AI) AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Mastering Microsoft Office: Word, Excel, PowerPoint, and 365 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital marketing - Wordpress Website Development By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert View Program Office Productivity Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development Mastering Full Stack Development: From Frontend to Backend Excellence By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Financial Literacy i.e Lets Crack the Billionaire Code By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator View Program Data Science SQL Server Bootcamp 2024: Transform from Beginner to Pro By - Metla Sudha Sekhar, IT Specialist and Developer View Program The new extension is set to boost the canal's capacity by six to eight vessels a day, Rabie said, and it will open after new navigational maps are issued. In 2015, Egypt undertook an $8-billion expansion to the waterway, followed by several smaller development projects. The Suez Canal has long been a vital source of foreign currency for Egypt that has been undergoing its worst ever economic crisis. According to the International Monetary Fund, revenue from the canal has been slashed by up to 70 percent since last year because of attacks by Yemen's Iran-backed Huthi rebels on shipping in the Red Sea. Before the attacks pushed companies to change routes, the vital passage accounted for around 10 percent of global maritime trade . (You can now subscribe to our Economic Times WhatsApp channel )Readers and writers: Coffee table books to wrap up the year'Tolerance' Festival In Bangladesh Scrapped After Islamist Threats
Tired of thinking about what gifts to get everyone this year? Artificial intelligence chatbots might help, but don’t expect them to do all the work or always give you the right answers. Anyone scouring the internet for deals is likely going to encounter more conversational iterations of the chatbots that some retailers and e-commerce sites have built to provide shoppers with enhanced customer service. Some companies have integrated models infused with newer generative AI technologies, allowing shoppers to seek advice by asking naturally phrased questions like “What’s the best wireless speaker?” Retailers hope consumers use these chatbots, which are typically called shopping assistants, as virtual companions that help them discover or compare products. Prior chatbots were mostly used for task-oriented functions such as helping customers track online orders or return ones that didn’t meet expectations. Amazon, the king of online retail, has said its customers have been questioning Rufus, the generative AI-powered shopping assistant it launched this year, for information such as whether a specific coffee maker is easy to clean, or what recommendations it has for a lawn game for a child’s birthday party. And Rufus, which is available for holiday shoppers in the U.S. and some other countries, is not the only shopping assistant out there. A select number of Walmart shoppers will have access this year to a similar chatbot the nation’s largest retailer is testing in a few product categories, including toys and electronics. Perplexity AI added something new to the AI chat-shopping world last month by rolling out a feature on its AI-powered search engine that enables users to ask a question like “What’s the best women’s leather boots?” and then receive specific product results that the San Francisco-based company says are not sponsored. “It has been adopted at pretty incredible scale,” Mike Mallazzo, an analyst and writer at retail research media company Future Commerce, said. Retailers with websites and e-commerce companies started paying more attention to chatbots when use of ChatGPT, an artificial intelligence text chatbot made by the company OpenAI, went mainstream in late 2022, sparking public and business interest in the generative AI technology that powers the tool. Victoria’s Secret, IKEA, Instacart and the Canadian retailer Ssense are among other companies experimenting with chatbots, some of which use technology from OpenAI. Even before the improved chatbots, online retailers were creating product recommendations based on a customer’s prior purchases or search history. Amazon was at the forefront of having recommendations on its platform, so Rufus’ ability to provide some is not particularly groundbreaking. But Rajiv Mehta, the vice president of search and conversational shopping at Amazon, said the company is able to offer more helpful recommendations now by programming Rufus to ask clarifying or follow-up questions. Customers are also using Rufus to look for deals, some of which are personalized, Mehta said. To be sure, chatbots are prone to hallucinations, so Rufus and most of the tools like it can get things wrong. Juozas Kaziukenas, founder of e-commerce intelligence firm Marketplace Pulse, wrote in a November blog post that his firm tested Rufus by requesting gaming TV recommendations. The chatbot’s response included products that were not TVs. When asked for the least expensive options, Rufus came back with suggestions that weren’t the cheapest, Kaziukenas said. An Associated Press reporter recently asked Rufus to give some gift recommendations for a brother. The chatbot quickly spit out a few ideas for “thoughtful gifts,” ranging from a T-shirt and a keychain with charms to a bolder suggestion: a multifunctional knife engraved with the phrase “BEST BROTHER EVER.” After a 5-minute written conversation, Rufus offered more tailored suggestions: a few Barcelona soccer jerseys sold by third-party sellers. But it wasn’t able to say which seller offered the lowest price. When asked during another search for a price comparison on a popular skin serum, Rufus showed the product’s pre-discounted price instead of its present one. “Rufus is constantly learning,” Amazon’s Mehta said during an interview. Shop AI, a chatbot that Canadian e-commerce company Shopify launched last year, can also help shoppers discover new products by asking its own questions, such as soliciting details about an intended gift recipient or features the buyer wants to avoid. Shop AI has trouble, however, recommending specific products or identifying the lowest-priced item in a product category. The limitations show the technology is still in its infancy and has a long way to go before it becomes as useful as the retail industry and many shoppers wish it could be. To truly transform the shopping experience, shopping assistants will “need to be deeply personalized” and be able, on their own, to remember a customer’s order history, product preferences and purchasing habits, consulting giant McKinsey & Company said in an August report. Amazon has noted that Rufus’ answers are based on information contained in product listings, community Q&As and customer reviews, which would include the fake reviews that are used to boost or diminish sales for products on its marketplace. Get local news delivered to your inbox!The Houston Texans lost their Week 12 matchup 32-27 to the Tennessee Titans. It was a surprising loss, considering Houston is viewed as a legitimate playoff contender, while Tennessee managed to earn its third win on the season on Sunday. It was a back-and-forth game throughout, with CJ Stroud playing well for the most part. However, the Titans' defense did manage to force him to throw two interceptions on the day. The 23-year-old quarterback finished the day with 247 passing yards, two touchdowns, and two interceptions while throwing a 60.6% completion percentage. Houston falls to a 7-5 record on the season and still holds a two-game lead over the second-placed Indianapolis Colts in the AFC South. Despite that, all of the attention is on Stroud after the second-year quarterback made a total blunder of a play to lose the game. Backed in his own end zone, Stroud dropped back to pass with just over a minute left to play. However, the Titans' pass rush got in the backfield and forced Stroud to scramble. While scrambling, the Texans' quarterback stepped out of the back of the end zone, resulting in a safety . Tennessee scored two points and got the ball back before kneeling out the clock. Did CJ Stroud run out the back of the end zone, or get sacked out the back or the end zone? 😳😳😳 @danorlovsky7 , obviously you are the ultimate arbitrator. pic.twitter.com/f7voVjXbiB The play is reminiscent of a safety former NFL quarterback Dan Orlovsky made during his playing days in the league. During a 2008 game between the Detroit Lions and Minnesota Vikings, Orlovsky notoriously ran out of bounds in his own end zone as the quarterback for the Lions. However, Orlovsky's mishap was noticeably worse . For Stroud, at least, it's arguable a Titans defender tackled him out of bounds. SAI Flashback: October 12, 2008 Dan Orlovsky ran out of the back of his own end zone and didn’t even realize it at first pic.twitter.com/1AWXkNmn0s Regardless, sports fans hopped on social media to point out Stroud's mistake. Many of them compared the Texans quarterback to Orlovsky's blunder from 2008. Meanwhile, others criticize Stroud for taking a step back in production during his second year in the NFL. © Troy Taormina-Imagn Images "CJ Stroud, the back of the end zone is bad!" Stated Big Cat from Barstool Sports . One fan claimed , "Dan Orlovsky will tell ya it’s not good!" "What in the world has happened to CJ Stroud....? Legit looks like an average QB at best week in and week out," claimed another fan . NFL Hall of Famer Shannon Sharpe asked , "What's happened [to] CJ Stroud? He looks and plays like a totally different player. Is it me or is he different?" "CJ Stroud turned into Dan Orlovsky before he made a second year leap," said one individual . The Texans have five games remaining on the schedule before the regular season ends. They'll be taking on the Jacksonville Jaguars in Week 13 to try and get back in the win column. Related: C.J. Stroud is grateful to have Nico Collins back from injured reserve
A funeral service will be held for a North East man who gave more than half a century of his life to firefighting and charity work. or signup to continue reading Peter Leach, 71, on December 5 after his death on November 18. Mr Leach joined the CFA as a junior member in 1967, then became a recruit firefighter in 1974. He remained a firefighter for the rest of his life, and worked in Wodonga, Wangaratta, and in the Geelong, Ballarat and Warrnambool regions. The father of four, who had seven grandchildren, was also heavily involved with Carevan, the Anglican church, bowls clubs, and other community groups. Phillip Leach followed in his father's footsteps and also became a Wangaratta then Wodonga firefighter, and continues to work for Fire Rescue Victoria. "He was a wealth of knowledge," his son said. "He'd take the time to help anyone. "Sometimes you didn't even have to ask, if you saw something that he knew would be an issue, he'd have it solved before you even knew it would be a problem. "He was definitely all about the community, he spent his whole life helping out charities and giving up his time." CFA Commander Brendan Morris said Mr Leach's firefighting service was impressive. "He effectively dedicated his life to it," he said. "He had previously been the officer in charge at the Wodonga station and was still a registered volunteer at Wangaratta at the time of his passing. "He was a genuine bloke. "Nothing was too big for him, if you asked him to do something, he would do it." Wangaratta Carevan secretary Trudy Cornish said Mr Leach had joined the charity in 2020. "He was very active and very kind and giving," she said. "He loved doing whatever he could for the community. "He was always there and was very reliable. "He's going to be really missed." Mr Leach had undergone throat surgery a short time before his death. His son said he had been recovering well and his death was unexpected. Firefighters and others will pay tribute to the late 71-year-old during his December 5 funeral at the Holy Trinity Anglican Cathedral, on the corner of Ovens and Docker streets. The service starts at 10am, and will be followed by a private cremation. DAILY Today's top stories curated by our news team. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. WEEKLY Get news, reviews and expert insights every Thursday from CarExpert, ACM's exclusive motoring partner. TWICE WEEKLY Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over. AS IT HAPPENS Be the first to know when news breaks. DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily! Advertisement AdvertisementTaoiseach Simon Harris said he also wanted to tell Nikita Hand, a hair colourist from Drimnagh, that her case had prompted an increase in women coming forward to ask for support. Ms Hand, who accused the sportsman of raping her in a Dublin hotel in December 2018, won her claim against him for damages in a civil case at the High Court in the Irish capital on Friday. The total amount of damages awarded to Ms Hand by the jury was 248,603.60 euro (£206,714.31). Mr McGregor said in a post on the social media site X on Friday that he intends to appeal against the decision. That post has since been deleted. Mr McGregor posted to X again on Saturday to criticise the court process and said “we are not done yet... appeal!”. Speaking to the media on Saturday, Mr Harris said he told Ms Hand of the support she has from people across Ireland. “I spoke with Nikita today and I wanted to thank her for her incredible bravery and her courage,” he said. “I wanted to make sure that she knew how much solidarity and support there was across this country for her bravery. “I also wanted to make sure she knew of what the Dublin Rape Crisis Centre had said yesterday – that so many other women have now come forward in relation to their own experiences of sexual abuse as a result of Nikita’s bravery.” The Dublin Rape Crisis Centre said the case has had a “profound effect” on the people the charity supports, and that over the first 10 days of the High Court case, calls to its national helpline increased by almost 20%. It said that first-time callers increased by 50% compared to the same period last year, and were largely from people who had experienced sexual violence who were distressed and anxious from the details of case and the views people had to it. Mr Harris said: “I wanted to speak with her and I wanted to wish her and her daughter, Freya, all the very best night, and I was very grateful to talk with Nikita today. “Her bravery, her courage, her voice has made a real difference in a country in which we must continue to work to get to zero tolerance when it comes to domestic, sexual and gender-based violence. “I don’t want to say too much more, because conscious there could be further legal processes, but I absolutely want to commend Nikita for her bravery, for her courage, for using her voice.” Justice Minister Helen McEntee praised Ms Hand’s bravery and said she had shown “there is light at the end of the tunnel”. She said: “I just want to commend Nikita for her bravery, for her determination and the leadership that she has shown in what has been – I’ve no doubt – a very, very difficult time for her and indeed, for her family. She added: “Because of wonderful people like Nikita, I hope that it shows that there is light at the end of the tunnel, that there are supports available to people, and that there is justice at the end of the day.” Ms Hand said in a statement outside court on Friday that she hoped her case would remind victims of assault to keep “pushing forward for justice”. Describing the past six years as “a nightmare”, she said: “I want to show (my daughter) Freya and every other girl and boy that you can stand up for yourself if something happens to you, no matter who the person is, and justice will be served.” During the case, Ms Hand said she was “disappointed and upset” when the Director of Public Prosecutions (DPP) decided not to prosecute the case after she made a complaint to the Irish police. In a letter to her in August 2020, the DPP said there was “insufficient evidence” and there was not a reasonable prospect of conviction. Ms Hand asked the DPP to review the decision, saying she felt she was being treated differently because one of the suspects was famous. Asked about the DPP’s decision not to prosecute, Mr Harris and Ms McEntee stressed the importance of the DPP’s independence on whether to prosecute. “There are obviously structures in place where the DPP can meet a victim and can outline to them their reasons for not taking the case,” Mr Harris said. “But there’s also always an opportunity for the DPP in any situation – and I speak broadly in relation to this – to review a decision, to consider any new information that may come to light, and I don’t want to say anything that may ever cut across the ongoing work of the DPP.” Ms McEntee stressed that there should “never be any political interference” in the independence of the DPP’s decisions. “I have, since becoming minister, given priority to and enabled a new office within the DPP to open specifically focused on sexual offences, so that this issue can be given the focus and the priority that it needs,” she said.Franklin Resources Inc. lifted its stake in shares of Nordstrom, Inc. ( NYSE:JWN – Free Report ) by 29.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,294 shares of the specialty retailer’s stock after purchasing an additional 11,583 shares during the quarter. Franklin Resources Inc.’s holdings in Nordstrom were worth $1,152,000 at the end of the most recent reporting period. Other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC increased its stake in Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 shares in the last quarter. Atlas Capital Advisors LLC raised its holdings in shares of Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares during the last quarter. Rothschild Investment LLC bought a new position in Nordstrom in the 2nd quarter valued at about $39,000. Point72 Hong Kong Ltd acquired a new position in Nordstrom during the 2nd quarter valued at about $71,000. Finally, Blue Trust Inc. increased its holdings in Nordstrom by 57.7% during the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after purchasing an additional 1,404 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds. Analysts Set New Price Targets Several research analysts recently issued reports on the company. Telsey Advisory Group cut their target price on Nordstrom from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 24th. StockNews.com lowered shares of Nordstrom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 5th. Citigroup raised their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, Bank of America lifted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.13. Nordstrom Stock Down 0.0 % Shares of NYSE JWN opened at $24.21 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company has a market cap of $3.99 billion, a P/E ratio of 15.42 and a beta of 2.56. Nordstrom, Inc. has a 52 week low of $16.63 and a 52 week high of $24.99. The business has a 50-day simple moving average of $23.19 and a two-hundred day simple moving average of $22.52. Nordstrom ( NYSE:JWN – Get Free Report ) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Nordstrom’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. Research analysts anticipate that Nordstrom, Inc. will post 1.94 earnings per share for the current fiscal year. Nordstrom Announces Dividend The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.14%. Nordstrom’s payout ratio is currently 48.41%. About Nordstrom ( Free Report ) Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name. Recommended Stories Five stocks we like better than Nordstrom What is the S&P 500 and How It is Distinct from Other Indexes Buffett Takes the Bait; Berkshire Buys More Oxy in December Best ESG Stocks: 11 Best Stocks for ESG Investing Top 3 ETFs to Hedge Against Inflation in 2025 How to Evaluate a Stock Before Buying These 3 Chip Stock Kings Are Still Buys for 2025 Receive News & Ratings for Nordstrom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom and related companies with MarketBeat.com's FREE daily email newsletter .
Maha Kumbh Mela 2025: Authorities in Uttar Pradesh's Pryagraj have deployed a state-of-the-art Multi-Disaster Response Vehicle to enhance safety and disaster readiness during the over 40-day-long event. Prayagraj: With preparations in full swing for upcoming Maha Kumbh in Uttar Pradesh’s Pryagraj, authorities have deployed a state-of-the-art Multi-Disaster Response Vehicle to enhance safety and disaster readiness during the over 40-day-long event. The Maha Kumbh will begin on January 13 and go on till February 26 next year. While the vehicle is equipped with the latest technologies, the step has been taken to ensure seamless emergency management during the event. Among other important features, a victim location camera has also been fixed in the vehicle in order to ensure the safety of devotees attending the event. It is also capable of handling situations like natural disasters and road accidents. Important features of Multi-Disaster Response Vehicle According to the report published in New Indian Express, the vehicle consists of a bag that can lift 0 to 20 tonnes. It also helps in rescuing those buried under debris. The vehicle is equipped with machines that are capable of lifting and moving heavy objects weighing not more than 1.5 tonnes. Apart from these, the vehicle is also equipped with tools that help in cutting and spreading through strong debris during emergencies. The victim location camera helps in finding individuals trapped in collapsed buildings. Underwater drones to be used during Maha Kumbh On Sunday, the state government said that ‘underwater drones, which are capable of diving up to 100 meters will be deployed during the the event. The step will be taken to provide surveillance at the Sangam area. Also, as many as 92 roads are been renovated in Prayagraj, while 30 30 pontoon bridges are under construction. Along with these, as many as 800 multilingual signs are also being installed for pilgrims. Close to 40 crore devotees from India and abroad are expected to attend the event. Click for more latest India news . Also get top headlines and latest news from India and around the world at News9. Subhajit Sankar Dasgupta has nearly 18 years of experience. Currently, he is serving as Associate Editor with news9live.com, a part of Associated Broadcasting Company Pvt Ltd. He started his career with The Pioneer and went on to work in a number of media organisations, including IANS, Financial Express Online, The Political and Business Daily, among others. Apart from online media, he has also worked in print media. Among the beats he covers include politics, sports and infrastructure. He has a Master’s degree in Mass Communication from Guru Jambeshwar University. During his free time, he likes to read books and play table tennis.
Syracuse, Albany each hoping to get right at expense of the other
Penn State's polarizing QB Drew Allar puts critics on mute and keeps winning gamesBrowns sticking with QB Jameis Winston down the stretch as dismal season heads into final weeks(Bloomberg) — BMW’s Mexico chief expects anemic sales in the country’s auto market next year, hurt by expected peso weakness against the dollar and subdued economic growth as US President-elect Donald Trump ratchets up trade tensions. Overall Mexican new car sales will likely remain little changed in 2025 after double-digit gains this year, BMW Group Mexico Chief Executive Officer Diego Camargo said in a phone interview. The luxury vehicle market is seen “maintaining its volume” after posting likely growth of 0.5% to 1.5% in 2024, he said. Threats from Trump to impose 25% tariffs on goods from Mexico and an additional 10% tariff on Chinese imports is adding to underlying uncertainty about the outlook for Mexico’s economy and currency, he said. The potential for a wider trade war, including protectionist measures by Mexico, could also impact demand, Camargo noted. Previous tariffs imposed by Mexico on steel and aluminum imports from countries with which it didn’t have trade agreements had an inflationary effect that rippled throughout the automotive supply chain, he said. BMW’s cross-border trade may get caught in that crossfire. About 30% of BMW’s sales in Mexico are SUVs imported from a factory in South Carolina, according to a company spokesperson. The carmaker also exports an unspecified number of vehicles made in Mexico to over 80 different destinations, including the US. Analysts in Mexico have been quick to revise down their economic growth predictions for next year following mounting trade tensions. The country already is expected to see a fourth straight year of diminishing economic growth and potentially steep levies from the US could impact nearly 11% of its gross domestic product, according to an estimate by Bloomberg Economics. BMW Group’s sales in Mexico, including its BMW and Mini branded-cars grew 1.1% in the first 10 months of the year, to reach 13,893 units, according to data from the Mexican Association of Automotive Distributors. Last year, the German brand sold 17,703 vehicles in the country, compared with the record 362,244 vehicles it delivered in the US. BMW produces three models locally from its San Luis Potosi vehicle assembly plant — the BMW 3 Series, 2 Series Coupe and the M2. But its current manufacturing capacity is limited to 175,000 vehicles a year. While Trump’s tariff threats loom large over the auto industry, Camargo said BMW has benefited from Mexico’s extensive global network of free trade agreements that go beyond those with the US and Canada. He also noted that BMW is one of the few companies selling electric vehicles in Mexico’s nascent but growing EV market for all-electric cars. Last year, EVs accounted for 22% of the brand’s total sales in the country. The German automaker’s commitment to electrification includes an 800 million euro ($844 million) investment in a new battery facility near its San Luis Potosi factory, which will enable local production of a next-generation EV known as the Neue Klasse by 2027. In August, BMW announced a partnership with Mexico’s Vemo, a startup offering electric vehicle taxis through Uber Technologies Inc.’s local app. BMW customers have access to Vemo’s network of more than 500 charging stations and BMW is installing 144 new charging points in 20 locations through the country. “We have 42 points of sale and all of them sell electric vehicles, they all have chargers and qualified personnel to diagnose, receive, and repair these cars if needed,” said Camargo. “So we are ready for deployment.” —With assistance from Wilfried Eckl-Dorna.
Friendly reminder |
The authenticity of this information has not been verified by this website and is for your reference only. Please do not reprint without permission. If authorized by this website, it should be used within the scope of authorization and marked with "Source: this website". |
Special attention |
Some articles on this website are reprinted from other media. The purpose of reprinting is to convey more industry information, which does not mean that this website agrees with their views and is responsible for their authenticity. Those who make comments on this website forum are responsible for their own content. This website has the right to reprint or quote on the website. The comments on the forum do not represent the views of this website. If you need to use the information provided by this website, please contact the original author. The copyright belongs to the original author. If you need to contact this website regarding copyright, please do so within 15 days. |