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Hyundai to launch air cab by 2028

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Supernal, owned by Korean automaker Hyundai Motor Group, has taken up the development of an electric airborne vehicle.

The opening of a special division responsible for developing aerial vehicles was announced back in 2019. At the head of the division is Shin Jeewon, a former NASA employee with thirty years of experience.

The company recently announced a partnership with Uber and the Miami government to bring air car technology to the city’s infrastructure once it is completed.

Supernal plans to develop a family of aerial vehicles that will seat up to five people and operate in unmanned mode. Passengers will be able to summon such a car using an appropriate app, just as they do on car rental platforms. Routes can also be set up independently, but all of them will run exclusively outside the city limits (for safety reasons). The first commercial flight of eVTOL will take place in 2028.

Commodities

Nasdaq 100 index rises for third straight week 

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nasdaq chart today

The Nasdaq chart today, which reflects the value of stocks of U.S. technology companies, rose 20% from its June low. Over the past trading week, the Nasdaq showed an increase of 3.2%. Analysts believe that this rally is happening on very shaky ground. 

Some even claim that investors are “stupid”. Much of the growth came on the back of falling oil prices. The drop in Brent to nearly $90 was a signal of declining demand in the economy. 

Shrinking consumption should translate into slower inflation, allowing the Fed to tighten its policy at a slower pace. However, the cooling of oil prices on Friday was offset by strong labor market data. Unemployment in the U.S. fell to 3.5%. Still, the best Nasdaq stocks showed gains. 

Fed officials often refer to a robust labor market in their rhetoric as an indication of a rate hike. Last week’s macroeconomic indicators suggest that the regulator remains free to act. Forecasts do not look rosy either. 

Average earnings estimates for the S&P 500 for 2023 are down 2.7% since the end of the first-quarter earnings season. The reason: lower expectations for growth in securities. Analysts’ estimates set the stage for a longer market recovery cycle. Inflation and the “era of expensive money” continue to hold back production.



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4 Dividend Stocks Offering Double-Digit Yields: An Easy Way To Earn Passive Income

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carbon emissions and climate change

Carbon emissions and climate change are well known, so many global companies are concerned about this factor. Today it is more of a reputation issue. Amazon said that its carbon footprint increased by 18% last year. The reason is the strong expansion of e-commerce in the pandemic era. Amazon promises to reach zero emissions by 2040. 

Today, the company is working to introduce electric cars, which can reduce carbon emissions in the air. There are also several ambitious projects that aim to remove carbon from the atmosphere. But at the same time, such ambitious projects can significantly affect Amazon’s operations. 

Such an investment would force the company to cut costs for business expansion. The world’s largest online retailer emitted 71.54 million metric tons of carbon dioxide equivalent last year. 

The company first released emissions data in 2019. In 3 years, that figure has increased by 40%. However, Amazon’s carbon intensity of operations-the ratio of emissions to gross sales-reduced by 1.9%. This points to more efficient logistics and warehousing operations. 

In its recent report, Amazon points out that the company has to face significant challenges on the road to minimal carbon emissions. There are a number of advanced technologies and developments that make it possible to achieve the desired result. The only problem is that integrating them into a functioning system can be too expensive, even for a giant like Amazon.



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Commodities

Situation in Taiwan leads to detours and delays in global transport

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China's military exercises near Taiwan

China’s military exercises near Taiwan have pushed the situation in the region to the limit. Therefore, some ships carrying liquefied natural gas are rerouting or reducing speed. China’s announcement of its military exercises is causing disruptions in global supply chains, leading to detours and delays in energy deliveries. 

Gas suppliers are rerouting or reducing the speed of some liquefied natural gas ships bound for North Asia. Shipments to Taiwan and Japan will be affected this weekend, Bloomberg reported. 

Shipping companies are assessing their options after China’s reaction to the visit of the highest-ranking U.S. official to the island in 25 years. The action threatens to disrupt one of the world’s busiest waterways. 

Risks of escalation in one of the planet’s key shipping lanes are skyrocketing because of the sharp escalation of the Taiwan crisis. Taiwan has issued an official warning that ships should seek alternative routes to safely enter and leave key ports. At least until China’s military exercises are over. 

At the same time, ship owners report that the current situation does not prevent tankers from moving through the Taiwan Strait. Consulting agencies also report that the problems for shipping are minor.



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