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Is QUALCOMM Stock Underperforming the Dow?Who Is the Richest Person in the World? Top Billionaires RankedWASHINGTON (AP) — A lead organization monitoring for food crises around the world withdrew a new report this week warning of imminent famine in north Gaza under what it called Israel's “near-total blockade,” after the U.S. asked for its retraction, U.S. officials told the Associated Press. The move follows public criticism of the report from the U.S. ambassador to Israel. The rare public dispute drew accusations from prominent aid and human-rights figures that the work of the U.S.-funded Famine Early Warning System Network , meant to reflect the opinion of unbiased international experts, has been tainted by politics. A declaration of famine would be a great embarrassment for Israel, which has insisted that its 15-month war in Gaza is aimed against the Hamas militant group and not against its civilian population. U.S. ambassador to Israel Jacob Lew earlier this week called the warning by the internationally recognized group inaccurate and “irresponsible ." Lew and the U.S. Agency for International Development, which funds the monitoring group, both said the findings failed to properly account for rapidly changing circumstances in north Gaza. Humanitarian and human rights officials expressed fear of U.S. political interference in the world's monitoring system for famines. The U.S. Embassy in Israel and the State Department declined comment. FEWS officials did not respond to questions. “We work day and night with the U.N. and our Israeli partners to meet humanitarian needs — which are great — and relying on inaccurate data is irresponsible,” Lew said Tuesday. USAID confirmed to the AP that it had asked the famine-monitoring organization to withdraw its stepped-up warning issued in a report dated Monday. The report did not appear among the top updates on the group's website Thursday, but the link to it remained active . The dispute points in part to the difficulty of assessing the extent of starvation in largely isolated northern Gaza. Thousands in recent weeks have fled an intensified Israeli military crackdown that aid groups say has allowed delivery of only a dozen trucks of food and water since roughly October. FEWS Net said in its withdrawn report that unless Israel changes its policy, it expects the number of people dying of starvation and related ailments in north Gaza to reach between two and 15 per day sometime between January and March. The internationally recognized mortality threshold for famine is two or more deaths a day per 10,000 people. FEWS was created by the U.S. development agency in the 1980s and is still funded by it. But it is intended to provide independent, neutral and data-driven assessments of hunger crises, including in war zones. Its findings help guide decisions on aid by the U.S. and other governments and agencies around the world. A spokesman for Israel's foreign ministry, Oren Marmorstein, welcomed the U.S. ambassador's public challenge of the famine warning. “FEWS NET - Stop spreading these lies!” Marmorstein said on X . In challenging the findings publicly, the U.S. ambassador "leveraged his political power to undermine the work of this expert agency,” said Scott Paul, a senior manager at the Oxfam America humanitarian nonprofit. Paul stressed that he was not weighing in on the accuracy of the data or methodology of the report. “The whole point of creating FEWS is to have a group of experts make assessments about imminent famine that are untainted by political considerations,” said Kenneth Roth, former executive director of Human Rights Watch and now a visiting professor in international affairs at Princeton University . “It sure looks like USAID is allowing political considerations -- the Biden administration’s worry about funding Israel’s starvation strategy -- to interfere." Israel says it has been operating in recent months against Hamas militants still active in northern Gaza. It says the vast majority of the area’s residents have fled and relocated to Gaza City, where most aid destined for the north is delivered. But some critics, including a former defense minister, have accused Israel of carrying out ethnic cleansing in Gaza’s far north, near the Israeli border. North Gaza has been one of the areas hardest-hit by fighting and Israel’s restrictions on aid throughout its war with Hamas militants. Global famine monitors and U.N. and U.S. officials have warned repeatedly of the imminent risk of malnutrition and deaths from starvation hitting famine levels. International officials say Israel last summer increased the amount of aid it was admitting there, under U.S. pressure. The U.S. and U.N. have said Gaza’s people as a whole need between 350 and 500 trucks a day of food and other vital needs. But the U.N. and aid groups say Israel recently has again blocked almost all aid to that part of Gaza. Cindy McCain , the American head of the U.N. World Food Program, previously called for political pressure to get food flowing to Palestinians there. Israel says it places no restrictions on aid entering Gaza and that hundreds of truckloads of goods are piled up at Gaza’s crossings and accused international aid agencies of failing to deliver the supplies. The U.N. and other aid groups say ongoing combat, looting and insufficient security by Israeli troops make it impossible to deliver aid effectively. Lew, the U.S. ambassador, said the famine warning was based on “outdated and inaccurate” data. He pointed to uncertainty over how many of the 65,000-75,000 people remaining in northern Gaza had fled in recent weeks, saying that skewed the findings. FEWS said in its report that its famine assessment holds even if as few as 10,000 people remain. USAID in its statement to AP said it had reviewed the report before it became public, and noted “discrepancies” in population estimates and some other data. The U.S. agency had asked the famine warning group to address those uncertainties and be clear in its final report to reflect how those uncertainties affected its predictions of famine, it said. “This was relayed before Ambassador Lew’s statement,” USAID said in a statement. “FEWS NET did not resolve any of these concerns and published in spite of these technical comments and a request for substantive engagement before publication. As such, USAID asked to retract the report.” Roth criticized the U.S. challenge of the report in light of the gravity of the crisis there. “This quibbling over the number of people desperate for food seems a politicized diversion from the fact that the Israeli government is blocking virtually all food from getting in,” he said, adding that “the Biden administration seems to be closing its eyes to that reality, but putting its head in the sand won’t feed anyone.” The U.S., Israel’s main backer, provided a record amount of military support in the first year of the war. At the same time, the Biden administration repeatedly urged Israel to allow more access to aid deliveries in Gaza overall, and warned that failing to do so could trigger U.S. restrictions on military support. The administration recently said Israel was making improvements and declined to carry out its threat of restrictions. Military support for Israel’s war in Gaza is politically charged in the U.S., with Republicans and some Democrats staunchly opposed any effort to limit U.S. support over the suffering of Palestinian civilians trapped in the conflict. The Biden administration’s reluctance to do more to press Israel for improved treatment of civilians undercut support for Democrats in last month’s elections. Sam Mednick and Josef Federman in Jerusalem contributed to this report.
NEW DELHI, Dec 30: With the rapid evolution of channels like quick-commerce and the emergence of ONDC, the Indian retail industry is ‘cautiously optimistic’ for 2025, in which new-age technologies such as AI and automation will play a crucial role, driving efficiency and personalisation. The New Year could be a period of transformation for the Indian retail industry, one of the fastest-growing globally, where the contemporary retail landscape is rapidly evolving, influenced by the preferences of digital-first generation Gen Z and retail tech. Helped by tailwinds such as rising disposable income, rapid urbanisation, the rise of non-metro tier II cities, and growing middle class along with a digitally-savvy consumer base, the organised retail sector is poised to grow expanding its play further with a customer-centric approach. “FY25 is likely to see continued focus on building supply chain efficiencies, along with upgrades to logistics hubs and tracking systems to meet fast delivery demands. Employment generation in quick commerce, logistics, and related sectors is also expected to continue,” said EY India Tax Leader for Retail Practice Paresh Parekh. Indian consumers, influenced by global exposure and digital technologies, are prioritising higher quality and value for money. This has resulted in a shift in spending from luxuries to essentials or more affordable options. “Despite these challenges, the outlook for 2025 remains positive, driven by demographic trends, urbanisation, digital growth, and the aspirations of a young, dynamic middle class,” he said. Parekh expects an increase in foreign investments in the retail sector and a continuance of consolidation led by PE firms and strategic acquisitions. According to the Retailers Association of India (RAI), the Indian retail sector in 2024 has witnessed a mix of challenges and opportunities. “Growth was subdued in the first half, with marginal consumption increases and cautious consumer spending. Many retailers struggled to achieve like-for-like growth, reflecting shifting consumer priorities,” said its CEO Kumar Rajagopalan adding “Despite this, the year also brought innovation and resilience.” Retailers have embraced technology to enhance operations and customer experience and initiatives like ONDC are creating exciting new opportunities, particularly in reaching untapped markets. “Looking ahead, the sector remains cautiously optimistic. The festive and wedding seasons have boosted momentum, and with strategic planning, retailers can sustain growth into 2025,” he said. The Indian retail sector contributes around 10 per cent to its GDP and according to the latest annual report of leading retailer, Reliance it is expected to cross USD 1.4 trillion by 2027. It is also poised to become the third-largest market by 2030. Over the emergence of quick commerce, Deloitte India partner, consumer products and retail sector Anand Ramanathan said it is a “viable business model” and it is here to stay. 2024 has been disruptive for the retail sector, which besides the emergence of quick commerce, also saw the revival of mass consumption and the value retail segment for the first time since the pandemic. “100 million middle-income households will be added this decade to the economy. 2025 will continue to see the impact of this growth in middle-income households with further momentum in mass consumption. This will have a positive impact across sectors including fashion, home and food services,” said Ramanathan. Puneet Mansukhani Sector Head – Retail KPMG said in 2024 retailers faced significant challenges due to inflation impacting profitability and supply chain disruptions. “These issues required strategic pricing adjustments and innovative solutions to maintain smooth operations. The festive season did see some uptake as compared to the previous year but overall the customer was cautious. “The ecommerce spend in the tier 2 and 3 cities was stronger than urban and the trend is likely to continue which makes the retailers feel bullish and optimistic in 2025,” he said. Over the outlook for 2025 for the retail industry, he said continued advancements in AI and automation are “expected to drive efficiency and personalisation” in retail, enhancing customer engagement and operational efficiency. Moreover “increased use of data analytics will enable more personalised shopping experiences, catering to individual consumer preferences,” he said. Retailers will likely focus more on sustainability and transparency in their supply chains, responding to consumer demand for ethical practices. However, Mansukhani also hinted towards economic uncertainty and said “Inflation and economic volatility may continue to pose challenges, affecting consumer spending patterns.” (PTI)JACKSONVILLE, Fla. — Whoever ends up coaching the Jacksonville Jaguars next season, receiver Brian Thomas Jr. will be the team's most dynamic rebuilding piece. Mac Jones threw two touchdown passes, including his fifth in as many games to Thomas , and the Jaguars beat the Tennessee Titans 20-13 in the rain Sunday to sweep the season series for just the fourth time in 30 years. Jones completed 15 of 22 passes for 174 yards, with most of those going to Thomas. The first-round draft pick from LSU finished with seven receptions for 91 yards. His 11-yard TD catch with 7:05 remaining gave him his eighth game with at least 60 yards and a score, tying him with Hall of Famer Randy Moss for the most by a rookie in NFL history . “Brian just keeps impressing each week,” said Jaguars coach Doug Pederson, whose future with the team remains cloudy. “You can't say enough good things about Brian.” Thomas also became the fifth player in Jaguars history with double-digit TD receptions in a single season, joining Allen Robinson, Allen Hurns, Marcedes Lewis and Reggie Williams. “It's definitely a great feeling to be able to do some of the things I did," Thomas said. “I don't even know all of them. But some of them I heard, just a great accomplishment.” The Titans (3-13) improved their position for the 2025 NFL draft — a potential chance to land a franchise quarterback — and secured last place in the AFC South. The Jaguars (4-12) guaranteed themselves third in the division. There was little else at stake in this Week 17 matchup. Jacksonville looked as if it might make it a blowout, but Pederson’s squad settled for field goals while building a 13-0 lead early. The Titans got back in it with an 85-yard drive to start the second half, which ended with Mason Rudolph’s 8-yard TD pass to a wide-open Nick Vannett. Tennessee kicked a field goal late to make it a seven-point game and got the ball back with 1:29 remaining. Rudolph drove the Titans to the Jacksonville 26, but safety Antonio Johnson knocked down his fourth down pass at the goal line to end it. “He was staring down the receiver the whole time," said Johnson, who was benched earlier this season. “Once I saw him pull the pin, I just broke on it and just got the ball on the ground. ... To seal the game felt good.” Rudolph completed 19 of 31 passes for 193 yards, with the touchdown and an interception in his second consecutive start in place of Will Levis. The Titans have lost five in a row and seven of eight. “I hope they’re not numb to it," coach Brian Callahan said. "I sure am not. ... It’s terrible. There’s no joy in this process. There’s no fun in this. It’s terrible. I feel it every day I walk into work. I feel it every day I stand up here in front of you guys. "Nothing is enjoyable about this, so I don’t get numb to any of it, and I hope nobody gets numb to it. And our job is to try to fix it. We’ll do whatever we can do to fix whatever problems we got to fix, to add whatever players we have to add, to make sure that we have a better football team moving forward.” Hines-Allen moves closer to sack record Jacksonville’s Josh Hines-Allen moved a step closer to the franchise sack record. Hines-Allen sacked Rudolph in the third quarter, giving him 53 for his career and leaving him two shy of tying Tony Brackens’ team mark. Cheek sets officiating record Boris Cheek became the NFL’s all-time leader in games officiated when he took the field for the Titans-Jaguars game. Cheek officiated his 461st game over 29 seasons, passing Walt Coleman for the top spot. Coleman officiated 460 games over 30 seasons until his retirement in 2018. Key injuries Titans running back Tyjae Spears was evaluated for a concussion late in the third quarter. Spears, who wears a protective “guardian cap” over his helmet to help prevent head injuries, ran 20 times for 95 yards. Tennessee had to turn to third-string right tackle John Ojukwu after backup Jaelyn Duncan left in the first half with a shoulder injury. Duncan started in place of Nicholas Petit-Frere, who was benched last week and inactive against Jacksonville. Jaguars right guard Brandon Scherff (shoulder) left in the second quarter but returned on the next series. Up next Titans finish the season next weekend against division champion Houston. Jaguars play at Indianapolis next weekend to close out another year with double-digit losses.
The Seattle Seahawks placed leading rusher Kenneth Walker III on injured reserve due to an ankle injury and signed George Holani off the practice squad on Thursday afternoon. Walker had been ruled out earlier in the day ahead of Thursday's game against the host Chicago Bears. He returned from a two-game absence due to an ailing calf on Sunday before injuring his ankle in the Seahawks' 27-24 loss to the Minnesota Vikings. Zach Charbonnet is set to shoulder the load in the backfield for the Seahawks (8-7), who have lost two in a row heading into Thursday's game against the Bears (4-11). Seattle is in a must-win situation. Even if the Seahawks can top Chicago and beat the Los Angeles Rams in Week 18, they still might miss out on the postseason because of the strength-of-victory tiebreaker. Walker, 24, leads Seattle in carries (153) and rushing yards (573) to go along with seven rushing touchdowns. Charbonnet, 23, has a team-best eight rushing touchdowns to go along with 106 carries for 453 yards. Holani, who turned 25 on Dec. 16, has three carries for 10 yards in three games this season. He is an undrafted rookie out of Boise State. The Seahawks also ruled out tight end Brady Russell (foot) and safety K'Von Wallace (ankle) for Thursday's game. Cornerback Artie Burns was elevated from the practice squad to the active roster for the contest. The Bears will be without defensive backs Elijah Hicks (ankle/foot) and Tarvarius Moore (knee), running back Travis Homer (hamstring) and offensive lineman Teven Jenkins (calf). --Field Level Media
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Since 2021, I’ve been to 123 museums in New York City in an attempt to see every one. (If you’re a Gothamist regular, you may recall my article from last year .) Now, wrapping up my fourth year of this project, I’m starting to wonder if this will ever end. Museums and “museum experiences” keep opening. When I began, I estimated there were about 150 museums in the city. Since then, smaller ones have come to my attention and new ones have opened, bringing the total close to 190. This has me wondering: What, exactly, is a museum? Does it have to have “museum” in the title? Does it have to be in a traditional gallery space? Could it be in someone’s home? Does it have to be permanent? What about for-profit museums? While I have not yet landed on a rigid definition of “museum,” I’ve learned I’m drawn to ones that promote or serve their communities. I’ve had the privilege of visiting museums started by everyday people. The Woodside Heights Art Museum (WHAM!), for example, was created by a curator-artist couple as a way to celebrate the history of their neighborhood. It's located in the front window and side yard of their home in Woodside, and presents exhibitions by local artists and hosts events. So while it's not as big as the Met or MoMA, in a way, it may have a more tangible impact for those it serves. If you’re looking to expand your museum savvy in the city, here are nine of my favorite museums I visited in 2024. The Salvator Mundi Museum of Art asks, “What if the 'Salvator Mundi' [an iconic painting by Leonardo Da Vinci] was a brand?” With that comes "Salvator Mundi" pasta sauce, "Salvator Mundi" coffee and a "Salvator Mundi" museum located in an apartment vestibule. The entire project is a remarkable piece of conceptual art and study of what makes a museum a museum. It has all the components you’d find at a “typical” museum: rotating exhibits (earlier this year it had one about Barbie’s ties to "Salvator Mundi"), a little gift shop and now a museum café (the restaurant next door). The museum is open daily. It also offers private tours and host events. More details can be found on its website . In the center of Staten Island, you’ll find Historic Richmond Town, one of the most unique spaces in the city. It’s a collection of more than 30 historic buildings, many of which were relocated from other parts of the island. Walking through Historic Richmond Town, I learned more about the American experience from the Colonial period to the present. They host so many different tours and events that change throughout the seasons as well as the annual county fair. This place feels like a village of its own, with a visitor center located in a former courthouse at the center of the town. Its existence has me a bit jealous of the Staten Island residents who get to visit often. It seems like the most exciting time to visit is in the warmer months because of their Open Village immersive experience, which includes costumed interpreters and demonstrations in houses across the campus. But my visit in March was quite spectacular. I took the Two Centuries tour, visiting four of the historical buildings on campus. You can learn more about Historic Richmond Town here . The only 24-hour museum I’ve gone to so far, WHAM!, is a charming museum. The main exhibition is in the front window of a Queens house. There are sculptures and art in the side yard. While learning the history of their neighborhood, the founders realized that few, if any, museums in the city were sharing Woodside stories and decided to do it themselves. You can view the museum any time of day or visit exhibition openings (usually Memorial Day and Labor Day), which feature free seltzer, a popcorn bar and the world’s first Dollar Store Museum Gift Shop, which sells little pieces of art and tchotchkes — everything costs $1. This is a charming hidden gem and you can learn more here . I have a fondness for museums that exist in active spaces, like the New York Sign Museum, which is located in Noble Signs’ studio in Brooklyn. Some highlights include the neon sign from Brooklyn’s Queen Italian Restaurant, the main sign from Broadway’s beloved Star Lite Deli and another from the Lower East Side restaurant Bongos, all which have closed. When Noble's crew isn’t making new signs for businesses around the city, they are rescuing old ones to preserve for the collection. The museum doesn't have public hours, and appointments to view the collection are available on a limited basis by emailing [email protected] . You can learn more about the museum’s work on its website . One of the gifts of this project is the opportunity to learn incredible stories I wouldn’t have sought out on my own, like the life story of inventor Lewis H. Latimer, the namesake of the recently remodeled Lewis H. Latimer House Museum. Lewis Howard Latimer, who lived in the house, was the son of self-emancipated enslaved people, as well as an inventor, a self-taught draftsman, a U.S. Navy landsman and a father. He contributed to the invention of the lightbulb and the telephone, arguably some of the most important inventions ever. Through photographs, mementos and interactive installations, the museum tells the stories of his remarkable life and honors him by presenting STEAM programming to visitors of all ages. It is a wonderful intersection of Black history, Queens pride and innovation. Learn more here Like many millennials, I watched hours of TV every day after school, so I think my life changed when I went to the Paley Center for Media for the first time because so much American TV and radio history was suddenly at my fingertips. Formerly the Museum of Television & Radio and the Museum of Broadcasting, the center is dedicated to preserving and celebrating the history of TV, radio and emerging media. It has new exhibitions every month or so, screenings every day, a full gaming center and the goldmine that is the Paley Archive, where the center has digitized thousands of TV and radio programs that you can easily watch with your museum admission. I immediately returned here after my first visit so I could spend hours in their archive. It contains some rare treasures, such as an unaired pilot of “The Muppet Show” and an unaired documentary about the making of “West Side Story.” To learn more, visit the website . Every day I see another video about a new New York City pop-up, typically a big brand trying to get you to buy things. It’s exciting when there is a pop-up that separates itself from capitalism, like the Climate Museum. It has been operating through pop-up exhibitions as it searches for a permanent space, and is the first museum in the country dedicated to climate education. This year, the museum showcased “The End of Fossil Fuel” at a storefront in SoHo, which educated visitors about the dangers of the fossil fuel industry and taught them how they can start making changes. While the museum doesn't have an exhibition open right now, you can learn more about its work here . Two very exciting things I must share about this museum are that this is the oldest building in New York City AND they let me feed chickens here. The Wyckoff House Museum tells the story of the Wyckoff family that lived here over generations, but it’s also a fully operating farm and community space. As such, the museum provides agricultural education and resources to the neighborhoods of East Flatbush and Canarsie. It hosts Free Family Days every month, a farm stand and many events and workshops. Check out all of the great work happening at the Wyckoff House here . This museum had been on and off my list a few times because I did not think it was real. And even after I called the curator to make an appointment, Venmo-ed him a deposit and received an email with the address of an apartment building, I had no clue what to expect. A visit to the Museum of Interesting Things is kind of a show. Founder Denny Daniel takes you on a tour of more than a century of invention and innovation that led us to the technologies we have today. You get to hold and interact with the museum’s unique collection, which includes a camera obscura, a mutoscope and other fun inventions. And to wrap up the visit, I got to unbox a new museum acquisition. What other museum includes a mystery item reveal? Mine was 16mm film reels and glass slides of Central Park. A visit here is so joyous and makes you feel like a kid again. To book a tour, call 212-274-8757 or email [email protected] . The museum also hosts a Secret Speakeasy event every Sunday where it screens 16mm films. Learn more at the website .INGLEWOOD, Calif. -- The Buffalo Bills quickly responded from giving up a touchdown on a blocked punt, scoring on a 41-yard touchdown on a short pass from quarterback Josh Allen to running back Ty Johnson . The score was Allen's 250th career touchdown pass and the longest play of Johnson's six-year career. Johnson's scoring play came on the fourth play of the drive after the Bills went down 17-7 on the blocked punt. On first-and-10 from the Rams' 41-yard line, Allen faced immediate pressure after the ball was snapped. He faked to the right to wide receiver Khalil Shakir before looking to the left and passing the ball to the nearby Johnson, who was a little more than five yards behind the line of scrimmage. With help from blocks from center Connor McGovern , left guard David Edwards and wide receiver Mack Hollins , Johnson got around defenders to run up the sideline and into the end zone to make it a 17-14 game. Take it to the crib, Ty! 📺: @NFLonFOX pic.twitter.com/rq3Y0i7VIcSpotlight on KULR Tech Gr: Analyzing the Surge in Options Activity
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49ers rolling over Bears 24-0 at halftime— BIRTH NAME: James Earl Carter, Jr. — BORN: Oct. 1, 1924, at the Wise Clinic in Plains, Georgia, the first U.S. president born in a hospital. He would become the first president to live for an entire century . — EDUCATION: Plains High School, Plains, Georgia, 1939-1941; Georgia Southwestern College, Americus, Georgia, 1941-1942; Georgia Institute of Technology, Atlanta, 1942-1943; U.S. Naval Academy, Annapolis, Maryland, 1943-1946 (class of 1947); Union College, Schenectady, New York, 1952-1953. — PRESIDENCY: Sworn-in as 39th president of the United States at the age of 52 years, 3 months and 20 days on Jan. 20, 1977, after defeating President Gerald R. Ford in the 1976 general election. Left office on Jan. 20, 1981, following 1980 general election loss to Ronald Reagan. — POST-PRESIDENCY: Launched The Carter Center in 1982. Began volunteering at Habitat for Humanity in 1984. Awarded Nobel Peace Prize in 2002. Taught for 37 years at Emory University, where he was granted tenure in 2019, at age 94. — OTHER ELECTED OFFICES: Georgia state senator, 1963-1967; Georgia governor, 1971-1975. — OTHER OCCUPATIONS: Served in U.S. Navy, achieved rank of lieutenant, 1946-53; Farmer, warehouseman, Plains, Georgia, 1953-77. — FAMILY: Wife, Rosalynn Smith Carter , married July 7, 1946 until her death Nov. 19, 2023. They had three sons, John William (Jack), James Earl III (Chip), Donnel Jeffrey (Jeff); a daughter, Amy Lynn; and 11 living grandchildren and 14 great-grandchildren. Source: Jimmy Carter Library & MuseumMYOB launches sole trader accounting app to support 1.5 million Australian businesses
Delhi: Residents flock to popular bazars on last weekend before New YearAt Least 37 US Lawmakers Traded Up to $113 Million in Arms Stocks This YearNo MC polls during ‘Shaheedi Week’: AAPChinese electric vehicle stocks , including NIO Inc NIO , Li Auto Inc LI , XPeng Inc XPEV , and ZEEKR Intelligent Technology Holding ZK , are trading upwards Thursday amid reports indicating that EV sales will likely surpass traditional cars in China for the first time in 2025 beating Europe, the U.S. and Japan. China will likely sell over 12 million cars in 2025 versus 5.9 million in 2022, the Financial Times cites estimates from investment banks and research groups estimates. Also Read: US-Listed Chinese Stocks Fall As China’s Central Bank Keeps Key Rates Steady Meanwhile, sales of traditional cars will likely decline to below 11 million in 2025 from 14.8 million in 2022, Sri Lanka Guardian cites the FT. China’s EV sales trajectory bears testimony to its progress in domestic technology and ability to secure a global supply chain for lithium and cobalt. Additionally, the scale of China’s manufacturing abilities has rendered EVs a more affordable option for consumers, Sri Lanka Guardian cites Robert Liew of Wood Mackenzie. He expects China to accomplish its target of EVs accounting for 50% of car sales by 2035, ten years ahead of schedule. Per the FT report, Industry forecasts indicate that Chinese factories producing traditional engine cars will face an almost nonexistent domestic market within a decade as rising protectionism and uncertainty over government subsidies challenge Western carmakers. Yuqian Ding of HSBC told the FT that China’s EV juggernaut is indomitable despite a slowdown in growth from a very high base due to oversupply, competition, and a price war. Earlier this week , reports indicated China ramping up stimulus to shield from potential U.S. tariffs. The country is eying 3 trillion yuan ($411 billion) in special treasury bonds in 2025, compared to 2024’s 1 trillion yuan, to drive consumption through subsidy programs, equipment upgrades, and investments in advanced sectors. Price Actions: At the last check on Thursday, NIO is up 2.06% at $4.715. LI is up 3.86%, XPEV is up 3.12%, and ZK is up 8.48%. Also Read: US-Listed Chinese Stocks React To Underwhelming Consumption Data Photo via Shutterstock. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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