The most important news from last week 13.6.2022

Lockheed Martin Corp has good expectations

Lockheed Martin Corp intends to begin delivery of its new-build F-16 fighter planes in 2024, according to its chief financial officer, Jesus Malave. The business has a list of significant US allies interested in purchasing the plane, including Bahrain, Taiwan, Slovakia, Jordan, the United Arab Emirates, and the Kingdom of Saudi Arabia. Malave stated that employing new staff and training them to build the aircraft was a little bit more difficult than the firm expected.[1]

NIO will make self-developed battery from 2024

NIO, a Chinese electric-car manufacturer, said that it would begin producing high-voltage battery packs created by them in 2024 as part of an effort to increase profitability and competitiveness in order to compete with rivals such as Tesla. NIO aims to begin producing an 800-volt battery pack in the second half of 2024, according to company chairman, William Li. Most electric vehicles use 400-volt batteries, however Porsche's Taycan electric vehicles use 800-volt battery packs, which recharge faster.

ECB announced rate hikes

As imminent inflation statistics frightened investors, the European Central Bank prepared to raise interest rates for the first time since 2011. While the ECB's decision was widely anticipated, the prospect of a greater rise in September impacted on mood as the eurozone economy grappled with sluggish growth and rising inflation. The ECB announced intentions to hike rates by a quarter point in July, followed by a half-point increase in September.

Movement of EUR versus USD in the last five years. (Source: Trading Economics) *

Apple works on larger MacBook Air

Apple intends to increase the number of computers powered by its own CPUs next year, while also developing a bigger MacBook Air. MacBook Air will have a 15-inch screen and will be available as early as next spring. If the reports are true, it will be the first MacBook Air model of that size. Since developing its own processor, Apple has begun to transition away from partners. Apple unveiled this week their new version of 13.6-inch MacBook Air that will employ its M2 processor.

Intel stopped hiring for at least 2 weeks

According to a letter, Intel Corp has suspended employment in the business responsible for PC desktop and laptop chips as part of a series of cost-cutting initiatives. According to a message received on Wednesday, Intel is pausing all hiring and placing all job requisitions on hold in its client computing department. Some hiring may restart in as short as two weeks once the division reassesses priorities, and all present job offers in its systems will be fulfilled.

Sources: Reuters, Bloomberg, Investing, Trading Economics

*Past performance is no guarantee of future results.

[1] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment which is subject to change. Such statements are not guaranteeing of future performance. They involve risks and other uncertainties which are difficult to predict. Results could differ materially from those expressed or implied in any forward-looking statements.