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Hertz’s Big Move Into EVs Turns Out To Be A Dud

The Hertz car rental company is selling roughly one-third of its electric vehicle fleet, the company said in a Thursday regulatory filing to the SEC, according to the Wall Street Journal—highlighting the risk of its first-mover strategy when it comes to EVs. The proceeds from the sale of some 20,000 of its EVs will be used to purchase ICE vehicles, the company said. if(window.innerWidthADVERTISEMENTfreestar.config.enabled_slots.push({ placementName: "oilprice_medrec_atf", slotId: "oilprice_medrec_atf" });';document.write(write_html);} Hertz made the decision to sell off a large portion of the EV inventory it holds due to weaker…

Why the December inflation report could push back Fed rate cuts

The consumer price index (CPI) inched upwards in December following a surprisingly strong jobs report for that month, potentially pushing back an expected March cut in interest rates by the Federal Reserve. The CPI advanced 0.3 percent on the month, the Labor Department reported Thursday, up from 0.1 percent in November and no increase in October. Annually, the index advanced to a 3.4-percent increase from 3.1 percent in November, but still below recent highs around 3.7 percent reached in September and October. “This uptick in CPI is a critical reminder of the unpredictable nature of economic recovery and the murkiness of the macro…

Strategic Digital Transformation Can Be Your Game Changer During The Economic…

Share Tweet Share Share Email Undoubtedly, 2023 was a challenging year for businesses worldwide, and as 2024 approaches, economic uncertainty remains a cloud. According to the Federal Reserve’s predictions, the global economy is expected to grow at a modest 0.5% annually. Business operations and consumer spending are anticipated to be further impacted by several reasons, including continuous geopolitical crises, recurring supply chain problems, and a growing skills gap. Many firms’ natural response to such unsettling times may be to reduce or even stop their digital transformation activities. But this is the ideal moment to…

WoodMac: Global Oil Demand to Rise by 2 Million Bpd in 2024

Oil demand will continue to set records this year, with global demand growth expected at nearly 2 million barrels per day (bpd) compared to 2023, Wood Mackenzie said in a report on Thursday. China will account for around 25% of the worldwide growth in oil demand, according to the energy consultancy. if(window.innerWidthADVERTISEMENTfreestar.config.enabled_slots.push({ placementName: "oilprice_medrec_atf", slotId: "oilprice_medrec_atf" });';document.write(write_html);} Total global oil demand will average 103.5 million bpd for 2024, WoodMac said. “Much of the growth [in oil demand] will be coming in the second half of the year,”…

Some options trades for avoiding an asset bubble and other macroeconomic…

There's a current macroeconomic debate among notable investors about whether the U.S. is headed for a debt cliff facilitated by the Federal Reserve's hubris, a discussion especially relevant right now with tech stocks being bid up aggressively on the hope that significant rate cuts ahead. There are some trades for investors looking to avoid a possible asset bubble and other potholes that could be ahead. But first some background. Many have been critical of the Federal Reserve since its creation at the end of 1913. Our nation's worst recessions (most notably the Great Depression) and its worst periods of inflation have occurred…