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BusinessReutersVietnam's VinFast delays US electric car plant amid market slowdown
Vietnamese electric vehicle (EV) maker VinFast is delaying the launch of its planned $4 billion factory in North Carolina to 2028 and cutting its delivery forecast for this year by 20,000 units amid uncertainties in the global EV market. VinFast, founded by Vietnam's richest man Pham Nhat Vuong in 2017 and which turned to making fully electric vehicles in 2022, said it would now deliver 80,000 vehicles this year, down from the initially planned 100,000. In total, VinFast sold 21,747 units in the first half of 2024, an increase of 92% against the same period last year, but around one-fourth of the new yearly forecast.
BusinessBloombergTaiwan, India Threaten China’s Top Spot in EM Equity Portfolios
(Bloomberg) -- The race to replace China’s top spot in emerging market equity portfolios is heating up, with Taiwan and India running neck to neck as formidable rivals. Most Read from BloombergMusk Donates to Trump, Tapping Fortune to Swing 2024 RaceBiden Vows to Stay in 2024 Race Even as NATO Gaffes Risk His CampaignGiuliani’s Bankruptcy Dismissed With $150 Million Still OwedBiden’s Putin-Zelenskiy Gaffe Deals Fresh Blow to CampaignAT&T Data Hack Prompts FCC Probe, Raises Broad Security Concern
BusinessReutersExpected US rate cuts have investors looking beyond Big Tech
Looming U.S. interest rate cuts are presenting investors with a tough choice: stick with the Big Tech stocks that have driven returns for more than a year or turn to less-loved areas of the market that could benefit from easing monetary policy. Owning massive tech and growth companies such as Nvidia, Microsoft and Amazon has been a hugely profitable strategy for investors since early 2023, even as the stocks' market dominance has drawn comparisons to the dot-com bubble of the late 1990s. That calculus may start to change following Thursday's surprisingly cool inflation report, which solidified expectations for a near-term rate cut by the Federal Reserve.