Oil prices to keep falling as demand weakens, says IEA head

In 2020, Uber shifted its focus to autonomous vehicles, partnering with companies like Waymo to offer rider access to robot taxis through the Uber app in cities like Phoenix and Austin. Despite competition from other autonomous vehicle companies, such as Tesla, Uber's revenue and gross bookings exceeded expectations in the most recent quarter. The company's future success hinges on its ability to navigate the rapidly evolving driverless taxi market and maintain its position as a...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sir Keir Starmer announces changes to the planning system to speed up delivery of new nuclear power stations in the UK, aiming to introduce small modular reactors and give developers more flexibility in site selection. The government's nuclear projects, including Hinkley Point C and plans for Sizewell and Wylfa, are facing delays and budget overruns, while ministers are overseeing a competition...

Americans, especially young entrepreneurs, are embracing side hustles to earn extra income, with 44% of millennials and 48% of Gen Z already involved. Surprisingly, Gen Alpha, aged 1-14, are also joining the trend, with 69% planning or starting side hustles for financial security, according to Acorns' report. Parents play a role in shaping their children's financial habits, with 63% of kids hearing about money often and learning important money management skills from a young age....

The U.S. trade deficit in goods reached a record $1.2 trillion in 2024, driven by strong imports of auto parts, weight-loss drugs, computers, and food, while export growth was hampered by a strong U.S. dollar. The deficit with China was the largest, at $295.4 billion, and President Trump may use the data to justify trade actions against other countries. Despite criticism, economists attribute the deficit to the U.S. economy's strength, with consumers continuing to spend...

The recruitment industry faces challenges during economic downturns, with companies like SThree, Robert Walters, and Hays feeling the impact and implementing cost-cutting measures to navigate difficult times. Despite the current market stress, these asset-light firms have the potential for recovery, especially for investors who can buy near book value and withstand short-term volatility. While further pain may be expected, there is an opportunity for long-term gains by investing strategically in these resilient businesses. Full Article

Tesla's sales in Germany dropped by 59 percent in January as CEO Elon Musk faced backlash for comments regarding "past guilt" and support for a nationalist party. The decline in sales was also seen in France, Britain, Sweden, and Norway, possibly influenced by political controversies and delayed Model Y release. In the United States, Tesla's sales in California decreased by 11.6 percent in 2024 despite overall growth in electric vehicle sales. Full Article