Meta Platforms and Amazon com are moving ahead with pledged layoffs. Tough advertising markets partly show why big technology companies are cutting back on their workforce. A review of first-quarter advertising spending shows companies are seeking a better return on their ad dollars, according to analysts at Truist Securities, based on data from marketing-technology company Skai. Read More...
Reuters
As EV costs tumble in China, an export wave builds
Companies like BYD are solving that problem in China – and getting ready to solve it for the world. China’s largest EV maker unveiled this week the Seagull at the Shanghai auto show, shocking analysts and rivals with the car’s specs: a battery range of more than 300 kilometers (186 miles) and a starting price of just over $11,000 – about a quarter of the price of most EVs now on the market in Europe. “The Seagull is another manifestation of the aggressive deflationary pressures coming from (Chinese) automakers,” Morgan Stanley analyst Adam Jonas said in a note for investors, predicting a “more aggressive push” from Chinese companies to sell entry-level EVs outside China.
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