U.S. Mortgage Delinquency Rates At An All-Time Low
U.S. mortgage delinquency rates fell to a record low in the second quarter due to a strong job market and low interest rates prevailing on most home loans despite the big jump in mortgage rates over the last two years, claimed a report yesterday.
Peeking Into China’s Deflation And How The Nation Is Coping
Customers at Nanchengxiang restaurants in Beijing are treating themselves to a breakfast buffet with three types of rice porridges — sour and spicy soup, and milk, all for the price of 3 yuan (USD 0.40).
U.S. CPI Smile Fades As Yen Makes A Comeback
Markets are betting that the Fed’s most aggressive rate-hiking campaign of 40 years is over. Wall Street initially gave a huge thumbs up to the U.S. inflation data that showed some measures of underlying price pressures cooled significantly last month, prompting rates futures markets to call an end to the Fed’s tightening cycle.
Today’s News
The automotive industry has been caught in between the crosshairs of the semiconductor industry and the rise of artificial intelligence (A.I.) due to the recent China restrictions in raw material and the progressive nature as well as potential application options presented by A.I.
Coincidently, both A.I. and semiconductors are directly related to one another as the two would cease to exist without the other.
Restrictions aside, the two largest economies of the world, China and U.S. are making substantial advancements in the A.I. sector while they are pitted to go head-to-head in terms of competition.
The U.S. is still on the lookout for alternative measures to cope with their rising demands of chip productions while China closes its doors to the world with the imposed restrictions. Neither nation is budging to give the competition the slightest advantage. Meanwhile, the automotive sector presses on in terms of progression with talks on A.I. resuming its discussions on automated A.I. powered taxi, also known as robotaxi.
Other related news include:
California Agency Approves Robotaxi Expansion
Alphabet Inc’s (GOOGL.O) Waymo and General Motors’ Cruise can operate paid robotaxi services using unmanned self-driving vehicles throughout San Francisco, California state regulators voted yesterday, in the face of vigorous pushback from city transportation, safety agencies and many residents.
The vote by the California Public Utilities Commission – 3 to 1 in favor – takes effect immediately, meaning the companies now have permission to begin citywide paid taxi services throughout the city and at all hours of the day.
Audi Manager Expresses Concerns Of Chip Shortage
Semiconductor shortages have created an unavoidable bottleneck for Germany’s car industry. It will take years to resolve the matter despite chipmakers’ plans to build factories in the country, a senior Audi manager quoted.
German automakers and electronics producers have been hit hard by manufacturing delays, caused by a global shortfall of chips. Executives and policymakers are rethinking supply lines and trying to reduce reliance on a handful of Asian and U.S. chip suppliers.
Ford Expects Updated Software To Boost Revenue
Ford Motor (F.N) expects to incorporate more and better software into the trucks and vans in its highly profitable Ford Pro commercial vehicle business and grow revenues by USD 4,000-5,000 per vehicle in the future, a top executive said yesterday.
Navin Kumar, chief financial officer of Ford Pro, said the automaker would look to boost revenue with software- and data-driven fleet services, safety and security services, partial vehicle autonomy and insurance.
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