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On July 8th, Citigroup issued a report lowering its target price for Tencent from HK$763 to HK$758 to reflect adjustments to its portfolio value, while maintaining a "Buy" rating. Citigroup believes the company will continue to review its portfolio and rotate and rebalance between AI-related strategic investments and mature industries with limited future synergies. Looking ahead to the second quarter, Citigroup expects Tencents revenue to grow 9.3% year-on-year to RMB 201.7 billion, and adjusted net profit to grow 5.1% to RMB 66.25 billion, a lower estimate than the market consensus due to a cautious view on AI spending and its potential drag on profitability. In the second half of the year, Citigroup expects the focus to remain on agent-based AI testing within WeChat, the integration of Mini Programs and Hy3, the next generation or upgrade of the Hy model, and capital expenditure. Citigroup believes Tencent will prioritize share buyback opportunities, increase AI investment, and strengthen its core business growth through AI empowerment.JPMorgan Chase raised its price target for General Motors (GM.N) from $98 to $110.JPMorgan Chase lowered its price target for Pfizer (PFE.N) from $30 to $28.July 8th - According to an official from the Ministry of Civil Affairs, by the end of 2025, my country will have 396,000 elderly care institutions and facilities, with nursing beds accounting for 67.5%. County-level public elderly care institutions have achieved near-universal coverage, with approximately 30% possessing county-level comprehensive elderly care service management platform functions, and over 60% of townships (subdistricts) having regional elderly care service centers. Facilities such as urban embedded community elderly care service centers, rural neighborhood mutual aid points, and rural happy homes are continuously increasing. Professional, chain-operated, and branded elderly care service operators are gradually being cultivated and strengthened, and the construction of a three-tiered elderly care service network across the country has achieved initial results.July 8th - Google announced that it will hold a Made By Google event in New York on August 12th at 6 PM Eastern Time, where it will launch the Pixel 11 series smartphones. It is understood that the Google Pixel 11 series will completely eliminate the 128GB version, with all models starting at 256GB. The Pro, Pro XL, and Pro Fold models will also offer a 1TB version.

U.S. Governor Seeks to Expand Sales of High-ethanol Blended Gasoline

Haiden Holmes

Apr 29, 2022 09:32

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Governors from Iowa, Illinois, and Minnesota wrote to the Environmental Protection Agency to argue that year-round use of the blend, known as E15, will help cut gasoline costs, which have surged to more than $4 per gallon following Russia's invasion of Ukraine.


President Joe Biden announced intentions earlier this month to enable summertime sales of E15 gasoline, which contains 15% ethanol. Summertime restrictions on E15 were enforced because of fears that it contributes to pollution in hot weather, despite the fact that research indicates that the 15% blend may not contribute to smog in comparison to the more prevalent E10 available year-round. E10 is 10% ethanol.


However, proponents of biofuels desire a more permanent solution that allows for year-round E15 sales. Increased sales of the combination would almost certainly expand the market for corn-based ethanol.


Governors may petition the EPA under the Clean Air Act to equalize the volatility standards for E15 and E10. On Thursday, the Midwest governors informed the EPA that they are pursuing this option in order to enable year-round E15 sales.


"These states have paved the way forward on E15," Renewable Fuels Association President Geoff Cooper said. "We urge additional states and the EPA to follow suit so that drivers across the country can continue to enjoy the benefits of E15."


According to the RFA, the states involved in Thursday's action are home to 57% of the nation's 2,512 stations currently selling E15.

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