On Monday, Deutsche Bank (NYSE:DB) reportedly said it no longer expects a recession in the U.S. in FY24. The bank is bullish, given the cooling inflation and the labor market returning to a “better balance” without a significant rise in unemployment, said Reuters. Deutsche Bank earlier expected the economy to enter a mild recession this year as the Federal Reserve tightened interest rates to tackle inflation. The bank now expects the U.S. economy to grow by 1.9% in FY24, on a quarterly average b
The government should adopt a more comprehensive policy to encourage electric vehicle (EV) manufacturers to make Malaysia an automated hub, say automakers. "I have to say that battery prices are high, and about 40% of the cost of EVs comes from the battery. Coupled with the impact of high raw material costs, I think we should take a longer-term view on this sector," Bermaz Auto Bhd group chief executive officer (CEO) and executive director Datuk Francis Lee Kok Chuan said at a virtual webinar of the "RAM Insight Series: The Malaysian Automotive Sector Is the Worst Over and Where Do We Go From Here?" on Wednesday (June 15).