11.10.2022 Collections of important economic news
What JP Morgan said, US President Biden and G7 meeting, 1 billion dollars investment from Amazon news information
JPMorgan CEO Jamie Dimon: US will enter recession in 6 to 9 months
JPMorgan CEO Jamie Dimon warns US will enter recession in 6 to 9 months
JPMorgan Chase & Co. Its CEO, Jamie Dimon, has warned that the US and global economies will likely fall into recession next year. Dimon, CEO of the largest bank in the US, said the US economy is now “actually still in good shape” and that consumers will likely do better compared to the 2008 global financial crisis.
“But you can’t talk about the economy without talking about future things – and that’s serious stuff,” Dimon said at the JPM Techstars conference in London on Monday.
Among the indicators that sounded the alarm bells, the impact of runaway inflation, higher-than-expected interest rates, the unknown effects of quantitative tightening and Russia’s war in Ukraine, Dimon said: “These are very, very serious things that I think will push the US and the world – I mean, Europe is already in recession – and they will probably put the US in some kind of recession in six to nine months.”
US President Biden to attend G7 meeting
US President Joe Biden will attend the G7 leaders’ summit, which will be held virtually today.
According to a statement from the White House, US President Joe Biden will attend the G7 leaders’ summit, which will be held virtually today. Support for Ukraine and blaming Russian President Putin for Russia’s aggression will be discussed at the G7 leaders’ summit. According to the White House statement, Ukrainian President Zelenski will also take part in the G7 meeting.
1 billion dollar electric fleet investment from Amazon
Amazon will invest $1 billion over five years to electrify its European delivery fleet. The tech giant aims to reach net zero carbon emissions by 2040.
Amazon, one of the leading companies in the e-commerce industry, announced that it will make a giant investment of 1 billion dollars. The US technology giant has announced that it will spend $1 billion over five years to electrify its distribution fleet in Europe.
The investment will be used to purchase 10 thousand electric minibuses and 1,500 electric heavy vehicles in addition to the vehicle fleet in Europe. The company said it aims to achieve net zero carbon emissions by 2040.
“Substantial and sustainable investment will be required to decarbonize our transport network and achieve our net zero carbon target,” Amazon CEO Andy Jassy said in a statement.
Jassy said Amazon’s investment will encourage more electric vehicle manufacturers to install charging stations in Europe and provide incentives for the auto industry to produce more electric delivery vehicles. Jassy also made the statement that “Our transportation network is one of the most difficult business areas to decarbonize”. According to the latest sustainability report, carbon dioxide emissions increased by 18 percent in 2021 compared to 2020.
Amazon announced that it uses 3,000 electric delivery vehicles in Europe
Amazon has announced that it currently uses 3,000 electric delivery vehicles to deliver 100 million packages in Europe in 2021. Amazon did not disclose what percentage of its deliveries in Europe are made by electric vehicles.
In the US, Amazon has started using a new electric pickup truck made by electric vehicle manufacturer Rivian. The retailer has entered into a deal with Rivian to purchase 100,000 electric pickup trucks, which are expected to be fully commissioned by 2024. Amazon also has a separate agreement to purchase electric delivery vehicles from Stellantis based on the Ram ProMaster commercial van.
Amazon is also testing the use of electric bikes to make short-haul deliveries in Europe, though it has not been announced whether it will bring these tests to the US. The company has set up “micromobility centers” in more than 20 cities across Europe, including London, Munich and Paris, and expects to double that figure by the end of 2025.