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Futures data from October 13th indicated that international oil prices fell 4% last Friday, driven by a de-escalation in the Gaza situation and signs that Trump was escalating the Sino-US trade dispute. The continued stalemate in Eastern Europe and persistent supply concerns stemming from the Iranian nuclear issue are currently supporting the oil market. However, the escalating trade dispute has heightened economic concerns, and the prospect of oversupply is also weighing on the market. This combination of bullish and bearish news suggests continued volatility in the short term, with downside risks in the medium to long term.Germanys DAX30 index opened up 129.20 points, or 0.53%, at 24,396.00 points on October 13 (Monday); Britains FTSE 100 index opened up 15.03 points, or 0.16%, at 9,442.50 points on October 13 (Monday); Frances CAC40 index opened up 48.97 points, or 0.62%, at 7,966.97 points on October 13 (Monday); Europes The STOXX 50 index opened up 41.83 points, or 0.76%, at 5,573.15 points on Monday, October 13; the Spanish IBEX 35 index opened up 91.00 points, or 0.59%, at 15,577.20 points on Monday, October 13; and the Italian FTSE MIB index opened up 261.50 points, or 0.62%, at 42,309.00 points on Monday, October 13.European stocks rose across the board at the opening, with the Euro Stoxx 50 index up 0.74%, the German DAX index up 0.58%, the UKs FTSE 100 index up 0.15% and the French CAC40 index up 0.58%.Saudi payments and shopping app unicorn Tabby will use Nvidia (NVDA.O) HGX systems to securely host and train its artificial intelligence models.Hamas announced that it would release the remaining 13 Israeli detainees "soon."

Italian Brake Maker Brembo Plans to Expand in northern Mexico

Charlie Brooks

Dec 16, 2022 10:52

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Italian luxury brakes manufacturer Brembo, which supplies Tesla (NASDAQ:TSLA), Ferrari (NYSE:RACE), and other automakers, wants to expand one of its operations in the northern Mexican state of Nuevo Leon, government officials announced Thursday.


Since 2015, the firm has been operating in the Texas-bordering state of Nuevo Leon, where it employs 1,150 individuals at its Escobedo location, according to a statement from the governor's office.


According to a source familiar with the subject, Brembo now intends to increase the capacity of this facility, with a target opening date of the second quarter of 2023. The corporation also has a satellite facility in Apodaca, a neighboring city.


"What they are doing with brakes and new digital braking systems is remarkable," said Nuevo Leon Governor Samuel Garcia during an event with Brembo officials in Italy, during a trip during which he visited with executives from many auto firms and spoke with the Pope.


Brembo failed to reply promptly to a request for comment.


Elon Musk, the chief executive officer of Tesla, visited Nuevo Leon in October, and Reuters has been told by sources that the business is contemplating investing there.


Milenio, a Mexican news network, said this week that Tesla might reveal its intentions at the beginning of 2023. A request for comment was not met with a quick response from Tesla.


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