Trading app Robinhood unveils maiden stock buyback plan of $1 bln
Robinhood Markets has launched a billion share buyback plan to grow beyond its startup phase.
Companies
Toyota showcases compact engines adaptable to different fuels
Toyota has showcased next-generation engines at a media event with Subaru and Mazda, including 1.5 litre and 2.0 litre engines with reduced volume and height. The three companies aim to optimize integration with motors, batteries, and other electric drive units. The new engines will be compatible with alternative fuel sources such as e-fuels and biofuels. Toyota’s new 1.5 litre engine will achieve a 10% reduction in volume and weight compared to existing engines, while the new 2.0-litre turbo engine will have similar gains. Toyota is following a “multi-pathway” approach to carbon neutrality, with nearly two-fifths of its vehicles sold in January-March being petrol-electric hybrids. EVs are expected to reach a global market share of 30%, with hybrids, hydrogen fuel-cell, and fuel-burning vehicles making up the rest.
Aircraft shortages turn into cash bonanza for some airlines
Aircraft shortages have allowed airlines like Frontier Airlines and Wizz Air to sell new planes to leasing companies at higher prices than they paid, resulting in gains of hundreds of millions of dollars. The tight airliner market has made sale-and-leaseback transactions more attractive, with US airlines accounting for a larger share of these deals. New aircraft prices are 20% higher than pre-pandemic levels, leading to soaring lease rates. Airlines are spending 30% more on aircraft leases than before the pandemic.
Sheinbaum poised to become Mexico, ’s first woman president
Claudia Sheinbaum is set to win a landslide victory to become Mexico’s first female president, with provisional results showing her leading with 59% of the vote.
Top EU data regulator says tech giants working closely on AI compliance
The world’s leading internet firms are engaging extensively with regulators in the European Union to ensure their artificial-intelligence products comply with data protection rules.
Betting, gaming players warn against more taxes
The proposed value-added tax (VAT) on betting and the increase in excise duty to 20 percent in Kenya could lead to the disappearance of at least 80 percent of sportsbook bets in the market, making investment in the sector unviable and triggering capital flight.
Is social media the be-all and end-all of marketing?
Marketing professionals should look beyond social media and create a comprehensive strategy that integrates various touchpoints to deliver a unified customer experience.
‘, Light on the horizon for Vasiliko’
Energy Minister George Papanastasiou stated that there is progress in the construction of the liquefied natural gas (LNG) terminal in Vasiliko, with consultations ongoing between Cyprus’ natural gas infrastructure company and the Chinese state-owned company CPP Metron. The terminal is crucial for importing LNG to reduce electricity costs in the Republic of Cyprus. President Nikos Christodoulides denied discussions of a “velvet divorce” with CPP over the terminal, emphasizing that efforts are continuing.
Gender equality is a priority for the European Union
The European Union prioritizes gender equality, with the principle of equal pay for men and women established in 1957. Despite progress, inequalities persist, such as the 13% gender pay gap in 2021. Women are underrepresented in decision-making roles, particularly in the European Parliament. Violence against women is a serious issue, with one in three women experiencing physical or sexual violence. The EU has taken steps to address gender disparities, including mandatory data disclosure to reveal pay gaps and rules against violence, such as cyber violence and female genital mutilation. The EU has ratified the Istanbul Convention to protect women from all forms of violence.
It will need courage and willingness of all parties to restart the talks, says German Ambassador
Germany and Europe are preparing for two significant events: the European Parliament elections and the UEFA EURO 2024 football tournament in Germany. The German Ambassador to Cyprus expressed concern about the rise of right-wing parties in the elections and emphasized Germany’s support for a solution to the Cyprus issue based on UN resolutions. Germany aims to host EURO 2024 as a symbol of cohesion in Europe, promoting sustainability, diversity, and inclusion. Germany also advocates for a strong and united EU, despite facing challenges like Putin’s war in Ukraine. The 2004 enlargement of the EU serves as a lesson on the importance of unity and speaking with one voice in foreign policy. Germany’s proposals for EU decision-making reform aim to ensure the Union remains capable of action. Germany is committed to supporting Cyprus in finding a comprehensive solution to the Cyprus issue, emphasizing the importance of confidence-building between Greek-Cypriot and Turkish-Cypriot communities.