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Global Business Review Magazine
Friday, July 1, 2022
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SpaceX see significant inflation risks

Musk says Tesla new self-driving rollout could take a couple months

Tesla Inc Chief Executive Officer Elon Musk said that the U.S. electric carmaker and his rocket company SpaceX are facing significant inflationary pressure in raw materials and logistics. He asked via tweet about inflation rate outlook and said his companies are not alone. Russia’s invasion of Ukraine has been ramping up the prices of metals used in cars.

While metals have not been the target of Western sanctions as yet, some shippers and auto-parts suppliers are steering clear of Russian goods. This puts more pressure on carmakers already reeling from a chip shortage and higher energy prices. Escalated by housing, food, and gas prices, the U.S. consumer inflation saw its steepest spike in the last four decades, likely cementing the case for an interest rate hike by the Federal Reserve. 

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Tesla’s shares, which closed 5% lower at $795.35, have lost about 25% year-to-date. The electric-car maker raised prices of its U.S. Model Y SUVs and Model 3 Long Range sedans by $1,000 each and some China-made Model 3 and Model Y vehicles by 10,000 yuan ($1,582.40). U.S. electric vehicle maker Rivian Automotive Inc said that the supply-chain issues could cut its planned production in half, citing soaring raw material prices and supply chain constraints. Japan’s Toyota Motor Corp said that it would scale back domestic production by up to 20% for April-June. This is to ease the strain on suppliers struggling with shortages of chips and other parts.

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Russia evades default through sheer force of will; Kremlin speaks

Russia evades default through sheer force of will; Kremlin speaks

Global economies struggle as oil supplies tighten, volatile stakes

G7 fixate on stricter sanctions to impose on Russia, oil rates wobble

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank empowers local youth with People’s Spark Entrepreneurship Development Programme

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

Russia may be driven into default, Eurobonds due in payment

Russia may be driven into default, Eurobonds due in payment

Asia shares falls on worries over inflation, Fed outlook

An insightful glimpse of the market during the inflation period

Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

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  • Russia evades default through sheer force of will; Kremlin speaks
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  • Russia may be driven into default, Eurobonds due in payment

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