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Category: 3. Business

  • Lithium-Ion Battery Pack Prices Fall to $108 Per Kilowatt-Hour, Despite Rising Metal Prices: BloombergNEF

    Lithium-Ion Battery Pack Prices Fall to $108 Per Kilowatt-Hour, Despite Rising Metal Prices: BloombergNEF

    New York, December 9, 2025 – lithium-ion battery pack prices have dropped 8% since 2024 to a record low of $108 per kilowatt-hour, according to latest analysis by research provider BloombergNEF (BNEF). Continued cell manufacturing overcapacity, intense competition and the ongoing shift to lower-cost lithium iron phosphate (LFP) batteries helped drive down pack prices despite an increase in battery metal costs according to BNEF’s 2025 Lithium-Ion Battery Price Survey.  

    Battery metal prices increased in 2025, in part due to supply risks at certain Chinese lithium assets and new cobalt export quotas in the Democratic Republic of Congo. However, metal price increases did not translate to higher annual prices for cells or packs. The industry ultimately absorbed these shocks through greater LFP adoption, long-term contracts, and broader hedging strategies. 

    China has consistently produced more cells than are needed for domestic electric vehicle and stationary storage demand, creating intense competition among manufacturers. The effect has been most pronounced in the stationary storage sector, where many suppliers can serve the same projects. China’s dominance in LFP production has allowed its producers to meet nearly all global demand.

    BNEF’s industry-leading battery price survey covers multiple battery end-uses, including different types of electric vehicles and stationary storage projects. Each sector typically requires different cells and packs to meet distinct performance metrics, leading to varied pricing dynamics across these use cases. Battery pack prices for stationary storage dropped to $70/kWh in 2025, 45% lower than in 2024. This is the sharpest drop across all segments, making stationary storage the lowest-priced segment for the first time. Battery electric vehicles (BEVs) packs were the cheapest in the transport segment at $99/kWh – the second year that they were below the $100/kWh threshold.  

    Average LFP battery pack prices across all segments came in at $81/kWh while nickel manganese cobalt (NMC) packs were at $128/kWh. BNEF clients can find the full breakdown by chemistry, application and country here. 

    Evelina Stoikou, the head of BNEF’s battery technology team and lead author of the report, said: “Cut-throat competition is making batteries cheaper every year. This is an important moment for the industry, as record-low battery prices create an opportunity to lower EV costs and accelerate the deployment of grid-scale storage to support renewables integration around the world. ” 

    The report also covers regional differences in pricing. Average battery pack prices were lowest in China, at $84/kWh. Pack prices in the North America and Europe were 44% and 56% higher, reflecting higher local production costs and greater dependence on imported batteries, which typically have a premium compared to prices in China.  The largest drop in pack prices was in China, down 13% in real terms from 2024, while North America and Europe saw declines of 4% and 8%, respectively. The drop in prices was higher in Europe than in North America due to the changing policy and tariff environment in the US. Many Chinese companies redirected their exports to European markets, where they adopted more aggressive pricing strategies to maintain global sales volumes and meet annual targets. This shift intensified price competition in Europe. 

    BNEF expects pack prices to decrease again in 2026, based on its near-term outlook, as raw material prices face upward pressure but adoption of low-cost LFP continues to spread. Over the longer term, ongoing investment in R&D, manufacturing efficiency and supply chain expansion is expected to support further technology improvements and cost reductions. Emerging technologies, including silicon and lithium metal anodes, solid-state electrolytes, new cathode materials and new cell manufacturing processes, are also set to play a key role in driving the next wave of price declines. 

    The full report provides insights on:  

    • Battery prices across chemistries, regions and segments 
    • Raw material and battery component price dynamics 
    • BNEF’s view of global prices in 2026 and beyond   
    • Key drivers behind price trends this decade 
    • Public statements and roadmaps from leading industry players 
    • Impact of tariffs and transport costs on battery prices 

    BloombergNEF clients can access the full report here. 

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  • Fed rate decision in focus for Stoxx 600, FTSE 100

    Fed rate decision in focus for Stoxx 600, FTSE 100

    FILE PHOTO: Bull and bear symbols for successful and bad trading are seen in front of the German stock exchange (Deutsche Boerse) in Frankfurt, Germany, February 12, 2019.

    Kai Pfaffenbach | Reuters

    European shares are expected to open mostly flat on Tuesday as global investors await the U.S. Federal Reserve’s monetary policy update.

    Futures tied to the pan-European Stoxx 50 were last seen trading flat, while those tied to the FTSE 100, DAX and CAC 40 indexes were also little changed.

    The Fed is widely expected to cut its key interest rate at its final meeting of the year. Money markets are currently pricing in an 87% chance of a quarter-point cut when the central bank wraps up its two-day meeting on Dec. 10, according to the CME’s FedWatch tool.

    The move will set the scene for central banks in Europe, with the Swiss National Bank set to deliver its own policy update on Thursday. The Bank of England and European Central Bank follow on Dec. 18, with Norway’s Norges Bank and Sweden’s Riksbank also scheduled to announce interest rate decisions on the same date.

    In corporate news, the European Union announced Tuesday that it had struck a deal to “simplify” corporate sustainability laws. Under the updated system, most companies in the EU will be exempt from complying with sustainability reporting.

    “Today we delivered on our promise to remove burdens and rules and boost EU’s competitiveness,” Marie Bjerre, minister for European affairs of Denmark, said in a statement. “This is an important step towards our common goal to create a more favourable business environment to help our companies grow and innovate.”

    Investors are also digesting comments from U.S. President Donald Trump, who said on Monday that the U.S. will allow Nvidia to ship its H200 AI chips to “approved customers” in China — if America gets a 25% cut of the proceeds.

    On Monday, the Magnum Ice Cream company debuted on the Amsterdam stock exchange, completing its spin-off from consumer goods giant Unilever. The stock rose slightly during the session.

    Tuesday will see data releases on German exports, Dutch inflation, and British retail sales.

    Overnight in Asia, stocks were broadly lower, while U.S. stock futures were last seen trading flat.

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  • Stellantis and Bolt Partner to Advance Large-Scale Deployment of Driverless Mobility in Europe

    Stellantis and Bolt Partner to Advance Large-Scale Deployment of Driverless Mobility in Europe

    • Collaboration leverages Stellantis’ AV-Ready Platforms™ for scalable Level 4 (driverless) deployment
    • Partnership marks next step in Bolt’s ambition to have 100,000 autonomous vehicles available on its shared mobility platform by 2035
    • Both companies share commitment to the highest safety, reliability, and cybersecurity standards in Europe
    • Trials to begin in European countries from 2026

    AMSTERDAM and TALLINN, Estonia – Stellantis and Bolt, Europe’s leading mobility platform, today announced they have entered a partnership to jointly explore the development and deployment of Level 4 (driverless) autonomous vehicles for commercial operations across Europe.

    The collaboration will combine Stellantis’ AV-Ready Platforms™ – specifically the eK0 medium size van and STLA Small platforms – with Bolt’s extensive mobility network. Bolt currently provides ride-hailing services in more than 50 countries including 23 EU Member States and aims to integrate Stellantis’ autonomous vehicles into its shared mobility platform to provide fully autonomous, driverless ride-hailing services.

    Stellantis’ AV-Ready Platforms™ are engineered for flexibility and scalability, integrating advanced sensor suites, high-performance computing and system redundancies to meet the highest safety and reliability standards while optimizing total cost of ownership for service operators, making them one of the most competitive solutions in the industry.

    The companies plan to begin deploying test vehicles for trials in European countries starting in 2026, with a strong focus on building a service that provides the highest safety and performance standards in Europe. Deployment will follow a phased approach, from prototypes and pilot fleets to progressive industrial scale-up, with an initial production target in 2029.

    Both companies will work closely with European regulators to support a responsible approach to testing, certification and scalable deployment, in full alignment with applicable safety, data protection and cybersecurity standards.

    Strategic Significance

    For Stellantis, this collaboration expands its growing partner ecosystem in Europe and advances its global driverless mobility strategy, leveraging AV-Ready Platforms™ designed for safe and reliable Level 4 deployment at scale.

    For Bolt, the partnership marks the next step towards its ambition of having 100,000 autonomous vehicles available on its shared mobility platform by 2035.

    Executive Quotes

    Antonio Filosa, CEO – Stellantis, said: “Our AV-Ready Platforms™ are designed for maximum flexibility, so we can deliver the best possible experience for European customers. Autonomous fleets can also contribute to a lower carbon footprint by enabling a shared and optimized mobility, reducing congestion and emissions. Partnering with Bolt is intended to bring this vision closer to reality, combining our engineering expertise with their operational reach in the hopes of making driverless mobility a trusted part of everyday life in Europe.”

    Markus Villig, Founder and CEO – Bolt, said: “This partnership brings together two companies who understand the specific dynamics of operating in Europe. By combining Stellantis’ AV-Ready Platforms™ and our operational expertise, we plan to create the best autonomous vehicle offering that is tailored for European needs, in line with European standards, that millions of people will be able to use. The partnership marks the next step in our ambition to have 100,000 autonomous vehicles on the Bolt platform by 2035.”

    Legal Disclaimer

    This Memorandum of Understanding is non-binding and reflects the current intent of the parties. Any future development, deployment, commercial terms, roles and responsibilities will be subject to the execution of separate definitive agreements, regulatory approvals and agreed technical and operational conditions.

     

     

    About Stellantis

    Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is a leading global automaker, dedicated to giving its customers the freedom to choose the way they move, embracing the latest technologies and creating value for all its stakeholders. Its unique portfolio of iconic and innovative brands includes Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. For more information, visit www.stellantis.com.

     

    About Bolt

    Bolt is a European shared mobility platform that has operations in over 50 countries and 600 cities and provides shared mobility services including ride-hailing, scooter and e-bike rental and car rental to over 200 million customers. More than 4.5 million drivers use the Bolt platform around the world. The company seeks to accelerate the transition from owned cars to shared mobility, offering better alternatives for every use case.

    Contact: press@bolt.eu

     

     

    Stellantis Forward-Looking Statements

    This communication contains forward-looking statements. In particular, statements regarding future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, future financial and operating results, the anticipated closing date for the proposed transaction and other anticipated aspects of our operations or operating results are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis’ current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.

    Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the ability of Stellantis to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; Stellantis’ ability to successfully manage the industry-wide transition from internal combustion engines to full electrification; Stellantis’ ability to offer innovative, attractive products and to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; Stellantis’ ability to produce or procure electric batteries with competitive performance, cost and at required volumes; Stellantis’ ability to successfully launch new businesses and integrate acquisitions; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in Stellantis’ vehicles; exchange rate fluctuations, interest rate changes, credit risk and other market risks; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in Stellantis’ vehicles; changes in local economic and political conditions; changes in trade policy, the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; the level of governmental economic incentives available to support the adoption of battery electric vehicles; the impact of increasingly stringent regulations regarding fuel efficiency requirements and reduced greenhouse gas and tailpipe emissions; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the level of competition in the automotive industry, which may increase due to consolidation and new entrants; Stellantis’ ability to attract and retain experienced management and employees; exposure to shortfalls in the funding of Stellantis’ defined benefit pension plans; Stellantis’ ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the operations of financial services companies; Stellantis’ ability to access funding to execute its business plan; Stellantis’ ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with Stellantis’ relationships with employees, dealers and suppliers; Stellantis’ ability to maintain effective internal controls over financial reporting; developments in labor and industrial relations and developments in applicable labor laws; earthquakes or other disasters; risks and other items described in Stellantis’ Annual Report on Form 20-F for the year ended December 31, 2024 and Current Reports on Form 6-K and amendments thereto filed with the SEC; and other risks and uncertainties.

    Any forward-looking statements contained in this communication speak only as of the date of this document and Stellantis disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning Stellantis and its businesses, including factors that could materially affect Stellantis’ financial results, is included in Stellantis’ reports and filings with the U.S. Securities and Exchange Commission and AFM.

     

    (more…)

  • UK campaigners condemn ‘creepy’ digital billboards that can track viewers’ responses | Privacy

    UK campaigners condemn ‘creepy’ digital billboards that can track viewers’ responses | Privacy

    Digital billboards that can film viewers’ responses to adverts have been installed in hundreds of apartment blocks, in a move that civil liberty campaigners called “creepy as hell”.

    The supplier, 30Seconds Group, says the cameras allow them to track “occupant engagement” from residents who are a “captive audience” as they wait for lifts to their apartments.

    Potential advertisers are told: “With an average dwell time of 30 seconds, our screens provide ample time for viewers to absorb your message. This extended interaction allows for deeper engagement, making it an ideal platform for delivering impactful and memorable advertising content.”

    30Seconds Group said it was on course to install electronic noticeboards – all with cameras – in the communal areas of 1,000 buildings by the end of the year.

    The Residential Management Group, which is one of almost 50 property companies to have signed up, said the noticeboards improved communication with residents.

    In a statement to the Guardian, the group confirmed it had installed the billboards in 126 developments housing 50,000 people. However, it insisted that the cameras in its buildings were not activated.

    Conor Nocher, 32, has complained that part of the £209-a-month service charge for his studio flat in Colindale, north-west London, is being used to pay for a device that shows him unwanted adverts.

    He said: “Allowing crypto companies and alcohol and gambling to advertise within residential properties seems absurd and really inappropriate. There’s no ability to opt out. You’re stuck with it.”

    Nocher said he had not seen adverts for these types of products in his building, but images shared online of billboards elsewhere have shown promotions for drinks companies, a lottery syndicate, non-fungible tokens, a competition site and cage fighting.

    He is also wary about the presence of the camera in the billboards. “RMG say I’m not being spied on, but there are cameras in the devices, you can see them,” he said.

    “Even if it was at zero cost to residents I would still fight these tooth and nail, nobody wants to be spied on by 6ft garbage adverts in their own building.

    “In other buildings, residents are being tracked with the device, because the boss of 30Seconds Group says they are.”

    Jesse Liu, the managing director of 30Seconds Group, explained the company’s business model to the tech news site Business Cloud. He said: “Our strongest selling point is that we know who our audience is. All our displays are integrated with cameras so we can get the demographic data and also track the occupant engagement.”

    Liu said the devices had been installed in commercial and residential buildings in 20 UK cities – and that by the end of next year, it hoped they would be operational at 2,000 sites.

    A spokesperson for Places for People, the parent company of RMG, said residents were not being spied on because “none of the cameras are operational, the camera is pre-installed but not activated”.

    Emails to Nocher from RMG about the screens confirmed that the £800 installation costs and running costs were covered by residents’ service charges. The spokesperson said the annual running costs came to £2.60 per resident.

    They added: “Their primary purpose is to function as digital noticeboards, providing real-time updates in a cost-effective and environmentally responsible way.

    “The vast majority of the feedback has been positive, and the London fire brigade has praised the screens as being a useful tool to get information out to customers quickly and effectively.

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    “We take all customer feedback under advisement, yet feel that the screens are installed in a way that allows them to be non-invasive.”

    Nocher said: “I’ve talked to my neighbours about this and I haven’t found anyone who thinks these things are a good idea.”

    In an email to RMG, Nocher asked if residents had been consulted about the digital noticeboards. In reply, an associate director from the company said: “Residents were not formally consulted, nor is there a requirement for us to do so in this case.”

    The Places for People spokesperson said only that the owners of the building were consulted.

    It emerged last year that RMG was forced to remove two digital billboards supplied by the 30Seconds Group from the Grade II*-listed Park Hill flats in Sheffield after objections from residents.

    One of those involved in the discussions, who asked not to be named, said residents objected because the screens were visually “out of keeping” with the design of the flats, the displays of live news updates were “distressing” and they did not want “commercials as they walked in their doors”. They added: “People were also anxious about the cameras, even though we were told they were not activated.”

    Jake Hurfurt from Big Brother Watch, a civil liberties campaign group, said the digital noticeboards were “creepy as hell”.

    He added: “Billboards equipped with demographic scanning tech have no place in people’s homes. They are the height of surveillance capitalism.

    “We should all be able to move around the buildings we live in without being scanned against our will to monitor our personal characteristics or if we paid attention to an advert, and it is even more galling that residents of some buildings have to pay to be watched.”

    The 30Seconds Group has been approached for comment.

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  • Vattenfall and Cemvision sign new commercial agreement for near-zero-carbon cement

    Vattenfall and Cemvision sign new commercial agreement for near-zero-carbon cement

    Vattenfall and Cemvision have signed a commercial agreement for the supply of near-zero-carbon cement to be used in energy infrastructure projects across Europe. This collaboration marks an important step in reducing carbon emissions from onshore wind farms. Deliveries from Cemvision’s first industrial-scale production plant are scheduled to begin in 2028.

    Under this agreement, Cemvision’s innovative cement, Re-ment Massive, will be prioritised for use via subcontractors in Vattenfall’s onshore wind infrastructure projects across key markets. By using recycled materials and fossil free electricity, Cemvision’s technology has the potential to cut CO₂ emissions by up to 95 per cent* compared to conventional cement.

    “This agreement with Cemvision is accelerating a key market in the net-zero transition, and we’re proud to contribute to that shift,” says Ulrika Ritzén, Head of Onshore Wind at Vattenfall. “For Vattenfall, it means reducing carbon emissions from wind farms across Europe while optimising the economics of our projects. This collaboration strengthens our competitiveness and supports our long-term sustainability goals. We look forward to work closely with subcontractors and Cemvision to maximize the use of near-zero-carbon cement in our wind power projects.”

    Cemvision and Vattenfall signed already in 2024 a Letter of Intent to develop and supply near-zero-carbon cement. The commercial agreement brings the partnership to the next step.

    “This long-term agreement for the supply of our near-zero cement is a foundational step in transforming the cement market, and we are proud to take the partnership with Vattenfall to the next level. Our cement is one of the most cost-efficient ways to decarbonize construction. Moving from pilot to commercial action is how the transition becomes real. This agreement is the first binding signal, with many more to follow for Cemvision, underscoring climate leadership and the urgent need to scale up with our first full-scale production plant,” says Oscar Hållén, CEO of Cemvision.  

    As a founding member of the First Movers Coalition, Vattenfall is committed to integrating emerging technologies essential for the net-zero transition into its procurement. Vattenfall has pledged that 10 per cent of cement and concrete purchases should be near zero emission by 2030. This agreement makes it possible to reach at least 20 per cent by 2028. It also reinforces Vattenfall’s commitment to cut supply chain emissions by 50 per cent by 2030 through circularity and carbon-reduction measures in major projects, and to achieve net zero by 2040.

    Beyond onshore wind, this agreement with Cemvision creates opportunities to extend collaboration to other Vattenfall business areas.

    *The First Movers Coalition has a benchmark of maximum 184 kg CO₂e per tonne for near-zero-carbon cement which Re-Ment Massive will achieve already in 2028, according to Cemvision´s Life Cycle Analysis, by replacing limestone with recycled industrial by‑products. Re‑ment Massive has a future potential of reaching as low as 45 kg CO₂e per tonne, i.e. to reduce CO₂ emissions with up to 95% compared to traditional Portland cement, which emits approx. 850 kg CO₂e per tonne.

    For more information, please contact:
    Vattenfall’s Press Office, +46 8 739 50 10, press@vattenfall.com
    Victor Melander, Head of PR & Communication Cemvision, +46 70-7 88 39 55,     press@cemvision.se

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  • AI tools transform Christmas shopping as people turn to chatbots

    AI tools transform Christmas shopping as people turn to chatbots

    Danielle KayeBusiness reporter

    Bloomberg via Getty Images Three shoppers carry large shopping bags while crossing the street, in front of a Macy's store decorated with holiday lights.Bloomberg via Getty Images

    Shoppers carry Target bags outside of Macy’s flagship store on Black Friday in New York, US, on Friday, Nov. 28, 2025.

    Rachael Dunfell knew two things about her husband’s 21-year-old cousin: that he liked specialised racing bikes and that he was interested in the Vikings.

    But those pieces of information yielded few ideas for a suitable Christmas gift. So Rachael, 33, from Manchester, turned to artificial intelligence.

    She inputted his age, his hobby and his interest into Copilot, the Microsoft-owned chatbot, which led her to the website of a niche retailer that sells Viking-themed metal bike parts.

    “It’s just something that I really would never have known existed,” she said, “but it was perfect.”

    AI is shifting the holiday shopping experience.

    People are increasingly turning to AI tools, from Copilot to OpenAI’s ChatGPT to Google’s Gemini, for help with gift ideas and to compare prices, with implications for bargain hunters and retailers alike.

    John Harmon, a senior technology analyst at Coresight Research in New York, called this year the first holiday season shaped by AI-powered shopping.

    While there is not a great deal of data on spending directly linked to AI, Salesforce has said AI is expected to drive 21% of all holiday orders globally, for a total of $263bn (£197bn) in sales.

    More than half of US consumers say they would probably or definitely use AI to help with their shopping, a Coresight survey found.

    In the UK and Ireland, a survey of 2,000 consumers by technology company CI&T, released this month, found that 61% use or have used AI tools while shopping – most often to find where to buy an item or locate the best deal.

    But more than two-thirds of respondents could not think of an AI-powered retail experience that impressed them.

    Businesses are scrambling to make the most of AI channels to promote their products.

    “Retailers feel the urgency because AI is already shaping what people buy,” said Melanie Nuce-Hilton, senior vice president of customer success at GS1 US, an information standards organisation.

    “If the product information the model learned from is outdated or inconsistent, the recommendation can miss the mark, and it’s often small brands that lose visibility when that happens,” she added.

    Rachael Dunfell A woman wearing a baseball cap smiles on a hike, standing beside a man wearing an orange jacket.Rachael Dunfell

    Rachael Dunfell used ChatGPT to find a niche gift for her husband’s 21-year-old cousin

    AI firms ‘hold the cards’

    The technology is starting to move beyond using AI tools to help find a product on a retailer’s website, to letting shoppers buy items without even leaving a chat-bot.

    OpenAI at the end of September announced an Instant Checkout feature. In the weeks since, the ChatGPT maker has announced partnerships with several major retailers and marketplaces to list some of their products directly on the chat service. Etsy and Shopify led the pack, followed by Walmart in October and Salesforce and Target in November.

    Walmart, for example, said its partnership with OpenAI “allows customers and Sam’s Club members to plan meals, restock essentials, or discover new products simply by chatting”.

    But at this stage, there are limitations for shoppers seeking to offload their holiday shopping entirely. Buying items without leaving AI chats is still a nascent phenomenon, only weeks in the making.

    And AI companies hold the cards, analysts said.

    Not every retailer is set up for direct purchases within ChatGPT, Mr Harmon said. Some have not yet received approval from OpenAI.

    “It’s OpenAI’s game. They’re in control of who is listed and how long it takes,” he said.

    “The smaller ones will be left out for the time being, until they’re able to convert their data and get approved to have it listed on OpenAI.”

    Analysts said retailers could draw in shoppers by prioritising partnerships with AI companies.

    The agreements have the potential to boost brand perception among consumers, said Yanliu Huang, a marketing professor at Drexel University. She noted the benefits for a company like Walmart, which is known for its low prices but is seeking to appeal to higher-educated and younger consumers, too.

    Ms Huang predicted that other large retailers like Costco, as well as smaller brands, are likely to follow suit.

    Burlap & Barrel, a spice company based in the US, sees AI-powered shopping as an opportunity to boost sales.

    Ori Zohar, the firm’s co-founder and co-chief executive, acknowledged that the company is better positioned than many other small businesses in his sector to draw in shoppers, given its robust online presence.

    “That ended up being really, really good content to feed into the AI models,” Mr Zohar said. He attributed the company’s recent growth, in part, to AI searches that led customers to its website.

    But Mr Zohar said Burlap & Barrel is not currently seeking direct partnerships with AI companies like OpenAI. Executives are instead focused on building out the company’s own database of spices – information that AI tools can pick up and put on shoppers’ radar.

    Ori Zohar Ori Zohar poses wearing a white shirt and red braces, standing in front of a brick wall.Ori Zohar

    Ori Zohar, the co-founder of spice company Burlap & Barrel, said AI-powered shopping presents an opportunity to boost sales

    Benefits and risks

    Allan Binder, a teacher and sound engineer currently based in Hanoi, Vietnam, said he started using AI last year to brainstorm gift ideas for friends and family in the US.

    Having already used AI tools for research purposes, using them to find niche presents felt like a “natural extension”, said Allan, 35, originally from Detroit, Michigan.

    Among his AI-powered discoveries: scissors from an artisan manufacturer in England and pottery from Indonesia, a birthday gift for his mother last summer.

    This holiday gifting season, his AI searches have led him to historic prints.

    “[Chatbots] have the potential to connect very targeted products with their audience,” he said.

    But he acknowledged the risks of offloading shopping to AI agents, especially for those who undertake less research on their own to supplement AI-generated results.

    “I think AI shopping will help informed consumers become more informed,” he said, “while making it easier for uninformed consumers to buy without much thought.”

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  • Gold prices steady as markets brace for ‘hawkish’ Fed tone

    Gold prices steady as markets brace for ‘hawkish’ Fed tone

    Gold traded flat on Tuesday as investors had largely priced in a Federal Reserve rate cut.

    Frame Studio | Moment | Getty Images

    Gold traded flat on Tuesday as investors had largely priced in a Federal Reserve rate cut, while bracing for signals that the U.S. central bank may pursue a milder-than-expected easing cycle at its two-day policy meeting starting later in the day.

    Spot gold held steady at $4,189.17 per ounce, as of 0444 GMT. U.S. gold futures for December delivery was flat at $4,218.50 per ounce.

    Investors are largely repositioning ahead of the Federal Reserve’s policy meeting, OANDA senior market analyst Kelvin Wong said.

    “Earlier in the month, Powell signaled hawkish rate-cut guidance during his press conference. So investors in the U.S. Treasury market are adjusting their positions.”

    The benchmark U.S. 10-year Treasury yields held near a 2-1/2-month peak hit on Monday.

    Analysts widely expect a “hawkish cut” this week accompanied by guidance and forecasts that signal a high threshold for further easing into next year.

    Last week, data showed the U.S. Personal Consumption Expenditures (PCE) Price Index, the Fed’s preferred inflation gauge, landed in line with expectations, while consumer sentiment improved in December.

    Private payrolls for November recorded their sharpest drop in more than 2-1/2 years, but jobless claims fell to a three-year low for the week ended November 28.

    Markets now assign an 89% probability of a quarter-point cut at the Fed’s December 9–10 meeting, according to CME’s FedWatch Tool. 

    Lower interest rates tend to favor non-yielding assets such as gold.

    Meanwhile, silver rose 0.2% to $58.24 per ounce, not far from the record high of $59.32 hit on Friday.

    “Right now, silver is more of a higher-beta play among precious metals,” Wong said, adding that low inventories, strong industrial demand, and expectations of Fed rate cuts are driving its momentum, pushing it into risk-on mode and outperforming gold.

    Platinum gained 0.4% to $1,649.10, while palladium added 0.7% to $1,475.38.

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  • Assessing Expedia After Its 2025 Surge And Strengthening Travel Recovery Narrative

    Assessing Expedia After Its 2025 Surge And Strengthening Travel Recovery Narrative

    • Wondering if Expedia Group is still a smart buy after its run up, or if the easy money has already been made? Let us unpack whether the current share price lines up with the underlying value.

    • Expedia has quietly kept climbing, with the stock up 2.1% over the last week, 2.4% over the past month, and 42.7% year to date, adding to a 40.6% gain over 1 year and 178.8% over 3 years.

    • Recent headlines have focused on the travel recovery gaining momentum and Expedia sharpening its focus on core platforms and loyalty programs, which has helped rebuild investor confidence in the business model. At the same time, analysts have been highlighting the long term shift to online and app based bookings and framing Expedia as a key beneficiary of that structural trend.

    • Right now, Expedia Group scores 5/6 on our valuation checks, suggesting it looks undervalued on most of the metrics we track but not all. Next we will walk through those different valuation approaches, and then return at the end with a broader way to think about what the stock may be worth.

    Expedia Group delivered 40.6% returns over the last year. See how this stacks up to the rest of the Hospitality industry.

    A Discounted Cash Flow model estimates what a business is worth by projecting the cash it can generate in the future and then discounting those cash flows back to today in $ terms.

    For Expedia Group, the model uses a 2 Stage Free Cash Flow to Equity approach. The company generated roughly $2.93 billion in free cash flow over the last twelve months, and analysts expect this to grow steadily as the travel platform scales. Based on analyst inputs and extrapolated trends, free cash flow is projected to reach around $4.87 billion by 2035, with intermediate milestones such as about $3.34 billion in 2028 and $3.68 billion in 2029.

    When all these future cash flows are discounted back to today, the model arrives at an intrinsic value of about $520.55 per share. This implies the stock is trading at roughly a 49.2% discount to its estimated fair value, based on these model assumptions.

    Result: UNDERVALUED

    Our Discounted Cash Flow (DCF) analysis suggests Expedia Group is undervalued by 49.2%. Track this in your watchlist or portfolio, or discover 901 more undervalued stocks based on cash flows.

    EXPE Discounted Cash Flow as at Dec 2025

    Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Expedia Group.

    For a profitable business like Expedia Group, the price to earnings ratio is a practical way to gauge whether investors are paying a reasonable price for each dollar of current profits. In general, companies with faster, more reliable earnings growth and lower risk tend to justify higher PE ratios, while slower growth or higher uncertainty usually calls for a lower multiple.

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  • Renault Group and Ford form a strategic partnership for passenger and commercial vehicles, starting with two affordable electric cars in Europe

    Renault Group and Ford form a strategic partnership for passenger and commercial vehicles, starting with two affordable electric cars in Europe

    Paris, France and Cologne, Germany – December 9, 2025

    Renault Group and Ford today announced a landmark strategic partnership aimed at expanding Ford’s electric vehicles offering to European customers, significantly enhancing competitiveness for both companies in the rapidly evolving automotive landscape in Europe.

    A cornerstone of this collaboration is a partnership agreement for the development of two distinct Ford-branded electric vehicles. The new models will be based on the Ampere platform, leveraging Renault Group’s strong EV assets and competitiveness, and produced by Renault Group in the North of France, illustrating Ampere’s ElectriCity’s “state-of-the-art” manufacturing capabilities and expertise.

    Designed by Ford, developed with Renault Group, the two cars will feature distinctive driving dynamics, authentic Ford-brand DNA and intuitive experiences. They mark the first step in a comprehensive new product offensive for Ford in Europe. The first of the two vehicles is expected in showrooms in early 2028.

    In addition to collaborating on EVs, Renault Group and Ford have also signed a Letter of Intent (LOI) for a European light commercial vehicle collaboration. Under this LOI, the partners will explore the opportunity to jointly develop and manufacture Renault and Ford’s branded selected light commercial vehicles (LCVs).

    François Provost, CEO Renault Group said: “Renault Group is proud to announce a new strategic cooperation with Ford, an iconic car manufacturer. This partnership shows the strength of our partnership know-how and competitiveness in Europe. In the long term, combining our strengths with Ford will make us more innovative and more responsive in a fast-changing European automotive market.”

    Jim Farley, president and CEO, Ford Motor Company said: “The strategic partnership with Renault Group marks an important step for Ford and supports our strategy to build a highly efficient and fit-for-the future business in Europe. We will combine Renault Group’s industrial scale and EV assets with Ford’s iconic design and driving dynamics to create vehicles that are fun, capable, and distinctly Ford in spirit.”

    Combining strengths

    The companies will take advantage of the proven capabilities and competitiveness of Renault Group’s Ampere platform, EV manufacturing ecosystem and industrial capacities in the North of France (ElectriCity) to produce two all-new Ford-branded electric passenger vehicles.

    By joining their expertise as major players in Europe, in innovation, design, software, and service delivery, Renault Group and Ford will aim to address industry challenges and better serve customers in both the retail and commercial vehicles segments.

    The Renault Group and Ford strategic partnership will combine decades of experience in the light commercial vehicle segment, as well as the industrial scale and extensive supply base of both companies, creating a formidable force poised to drive innovation and efficiency in the European market.

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  • Morning Bid: Markets riddled with anxiety on almost-Fed day – Reuters

    1. Morning Bid: Markets riddled with anxiety on almost-Fed day  Reuters
    2. The probability of the Federal Reserve cutting interest rates by 25 basis points in December reaches 89.4%  Bitget
    3. Take Five: Worth the wait? By Reuters  Investing.com
    4. Fed Preview: Deep Split Complicates December Decision  ig.com
    5. FOMC Meeting Preview: How the FOMC’s December Dot Plot Will Affect the US Dollar (DXY)  marketpulse.com

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