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Total Energy CEO: Regarding the Kronos gas project in Cyprus, we expect to make a final investment decision by the end of July.US President Trump: The nuclear agreement between the US Department of Energy and Saudi Arabia will be approved, but it depends entirely on Saudi Arabia joining the Abraham Accords.July 23: Building materials transaction volume was 88,400 tons, an increase of 12.18% compared to the previous trading day. July 22: Building materials transaction volume was 78,800 tons, a decrease of 18.85% compared to the previous trading day. July 21: Building materials transaction volume was 97,100 tons, an increase of 23.85% compared to the previous trading day. July 20: Building materials transaction volume was 78,400 tons, a decrease of 6.67% compared to the previous trading day. July 17: Building materials transaction volume was 84,000 tons, an increase of 9.95% compared to the previous trading day. Last weeks average: Building materials transaction volume was 83,900 tons.On July 23, UBS investment bank economists stated in a report that UK inflation, after slowing in June, is expected to accelerate and could peak at 3.3% in November. The economists said that utility bills are expected to rise in July, which could push the year-on-year overall inflation rate up to as high as 2.9% from 2.6% in June. "We expect food and goods inflation to intensify by the end of the year as higher input costs, particularly energy and fertilizer, are gradually passed on to consumers," they said, adding that the escalating conflict in the Middle East increases the risk of rising inflation.On July 23, UBS Investment Bank economists stated in a report that the likelihood of a Bank of England interest rate hike in the coming months has decreased. These economists said that sluggish UK economic growth and a weak labor market have reduced the necessity for a rate hike. "The Bank of England can mitigate the risk of a second-round effect by maintaining interest rates at their current restrained levels for a longer period without further rate increases." However, they noted that given rising oil prices and the preference of some Bank of England members for a rate hike, the possibility cannot be ruled out.

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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