Economy

2024-01-24 12:52:30

Passengers on canceled Air Caraïbe flights departing from Fort-de-France on January 5 and 6 are disillusioned: the company is offering them a refund of 400 euros or a credit. But the significant additional costs linked to the involuntary extension of their stay in Martinique are not taken into account by the carrier, who suggests that they contact their insurance.
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#Canceled #flights #insufficient #compensation #passengers

2024-01-24 19:29:33

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#forecast #increase #number #travelers #summer #season

2024-01-25 01:12:23

Bad numbers for Tesla are depressing the market value and thus also the fortune of Elon Musk (52).

The electric car manufacturer fell short of investors’ expectations in the last quarter. Although sales rose by three percent to 23.6 billion euros, experts had expected 23.8 billion euros. So around 200 million euros less.

Even worse: Tesla did not provide any delivery forecast for the current year. Only the forecast that the number would grow more slowly than last year, the electric car manufacturer had managed 1.8 million units. Analysts had hoped for a forecast of 2.1 million units for 2024. That’s 300,000 units less.

Tesla expects significantly lower sales this year

Foto: SPENCER PLATT/Getty Images via AFP

Musk’s company was able to more than double its profit from around 3.4 to 7.3 billion euros. However, this was only possible through a one-off tax advantage. For the coming year, Tesla dampened hopes of further rising numbers due to “significantly lower” sales expectations for 2024.

Adjusted for the tax advantage, profits were even lower than the previous year. Also because the company offered large discounts on its cars in order to increase sales.

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Nevertheless, the fast-growing Chinese electric car manufacturer “BYD” overtook Tesla in sales figures in the fourth quarter.

Tech billionaire and Tesla boss Musk on competition from China: “If there are no trade barriers, they will pretty much destroy most other car companies in the world.”

This leaves 65 cents (71 US cents) per share, which was around 39 percent less than in the previous year. The stock market now punished this with a price loss of more than three percent.

Giant Light Show Car Spectacle in Israel

Those: KameraOne, YouTube/@Tesla-on 01.24.2024

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#Loss #share #price #Elon #Musk #Tesla #numbers #worse #expected #Money

2024-01-25 01:48:13

Oil prices rose on Thursday following data showed US crude inventories fell more than expected last week, while the Chinese central bank’s reduction in bank reserve ratios boosted hopes for further measures recovery and economic recovery.

The March contract for Brent oil was up 20 cents, 0.3%, at $80.24 a barrel by 0128 GMT. U.S. West Texas Intermediate crude rose 22 cents, or 0.3%, to $75.31 a barrel.

“A significant decline in U.S. oil inventories and expectations of China’s economic recovery and further stimulus measures supported oil prices,” said Toshitaka Tazawa, an analyst at Fujitomi Securities.

“Tensions in the Middle East were also behind the purchases,” he added.

U.S. crude inventories fell by 9.2 million barrels last week, according to the Energy Information Administration, more than quadruple the 2.2 million barrel drop analysts predicted in a Reuters poll.

This drop is explained by a sharp drop in crude imports into the United States, as winter weather conditions led to the closure of refineries and prevented motorists from hitting the road.

U.S. crude production fell from a record 13.3 million barrels per day (bpd) two weeks ago to a five-month low of 12.3 bpd last week, following freezing of oil wells in the Arctic.

Oil prices were also supported by hopes of China’s economic recovery.

China’s central bank announced a sharp reduction in bank reserves on Wednesday, in a move that will inject around $140 billion in liquidity into the banking system and send a strong signal of support to a fragile economy and plummeting stock markets.

China also said on Wednesday it was expanding banks’ use of commercial real estate loans in its latest effort to ease the liquidity crunch facing struggling real estate companies.

Meanwhile, geopolitical tensions in the Middle East remained the center of attention.

Maersk said nearby explosions forced two ships operated by its U.S. subsidiary and carrying U.S. military supplies to turn around as they crossed the Bab al-Mandab Strait heading north, accompanied by the U.S. Navy .

The US military carried out new strikes in Yemen early Wednesday, destroying two Houthi anti-ship missiles that were aimed at the Red Sea and preparing to be launched, according to the US military. (Reporting by Yuka Obayashi; Editing by Lincoln Feast.)

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#Oil #prices #rise #sharp #decline #U.S #crude #inventories #China #recovery #hopes #January #a.m