Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="19934680" type="General" weightage="100" keywordseo="Amul" source="keywords" meta.keywordsubtype="org" meta.entityname="Amul" meta.hostid="261" meta.entityid="Amul">Amul</keyword>, India's iconic <keyword id="23447066" type="General" weightage="20" keywordseo="dairy-cooperative" source="keywords">dairy cooperative</keyword>, is looking forward to enter the <keyword id="20845418" type="General" weightage="20" keywordseo="European-market" source="keywords">European market</keyword> after the successful launch of its milk in the US, according to <keyword id="20457579" type="General" weightage="20" keywordseo="Jayen-Mehta" source="keywords">Jayen Mehta</keyword>, Managing Director of Amul and the <keyword id="22666811" type="General" weightage="20" keywordseo="Gujarat-Co-operative-Milk-Marketing-Federation" source="keywords">Gujarat Co-operative Milk Marketing Federation</keyword> Ltd (GCMMF). As per a PTI report, Mehta made the announcement while delivering the 11th <keyword id="23447068" type="General" weightage="20" keywordseo="Dr-Verghese-Kurien" source="keywords">Dr. Verghese Kurien</keyword> Memorial Oration at XLRI, Jamshedpur, saying that this move would mark a historic milestone for the brand. Mehta framed dairy as more than a business, describing it as "a lifeline for rural India," a statement that reflects the deep cultural and economic significance of milk in the country. He credited Amul’s success to its focus on offering protein-rich, organic, and chemical-free products that consumers trust, while continually expanding its production capacity and infrastructure. Amul’s journey is rooted in the cooperative model pioneered by Dr. Verghese Kurien, often referred to as the "Milkman of India," whose vision turned India from a milk-deficient country into the world’s largest <keyword id="23447069" type="General" weightage="20" keywordseo="milk-producer" source="keywords">milk producer</keyword>. Mehta added, "If India could offer a gift to the world, it would be the cooperative working system-a gift Dr Kurien gave us. His belief in cooperation has sparked a new revolution in India." Amul’s daily collection of 310 lakh litres of milk, processed across 107 dairy plants in India, has turned it into a global powerhouse, with over 50 products and an annual sale of 22 billion packs. With a turnover of ₹80,000 crore, the brand is now ranked as the strongest dairy and food brand globally, owned by 3.6 million farmers. Amul’s entry into the European market would solidify India’s growing influence in the <keyword id="23447067" type="General" weightage="20" keywordseo="global-dairy-sector" source="keywords">global dairy sector</keyword>, as well as honour the cooperative system that has powered Amul’s success. Nirmala Kurien, daughter of Dr. Verghese Kurien, echoed these sentiments, highlighting her father’s vision that transformed India from a milk-deficient nation to a self-sufficient one. India’s deep connection to Amul goes beyond mere consumption. The cooperative’s rise is tied to the country’s rural development and empowerment of farmers, making it a symbol of economic self-reliance. As Amul prepares to conquer new markets, it carries with it the legacy of Dr. Kurien, whose commitment to making a difference continues to inspire millions. (With PTI inputs)

Amul thinking to enter European market after US success, MD Jayen Mehta calls it the lifeline for rural India

<ul class="summary-list"><li>Europe's luxury carmakers once dominated in China, but are now under intense pressure.</li><li>BMW, Mercedes-Benz, and Porsche have all reported slumping sales in the world's largest auto market.</li></ul>The days of European carmakers dominating China's luxury vehicle market are over.Germany's <a target="_blank" href="https://www.businessinsider.com/germany-auto-giants-volkswagen-bmw-mercedes-struggle-sales-china-evs-2024-10">BMW</a> and <a target="_blank" href="https://www.businessinsider.com/mercedes-benz-sliding-ev-sales-and-weak-demand-in-china-2024-10">Mercedes-Benz </a>have suffered a sales slump in the world's largest auto market in recent months amid rising pressure from a wave of Chinese EV upstarts.BMW reported a one-third decline in Chinese sales in the most recent quarter, while deliveries of new Mercedes cars dropped 10% in the first nine months of the year. Its high-end S-Class range was particularly affected as some consumers cut spending amid a <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-3q-gdp-growth-stock-market-stimulus-2024-10">faltering economy</a>.Aston Martin, a luxury British brand famous for its association with James Bond, said sales in China had fallen by more than half this year in its third-quarter earnings.Meanwhile, Porsche, owned by Volkswagen, said it would shrink its Chinese dealer network amid plunging profits and a 29% slide in sales in China in the nine months to September 30.The German company has seen stalling demand for its luxury vehicles, with sales of the $100,000 electric Taycan down 47% globally in the same period.<div type="image" title="The 2023 Porsche Taycan." height="3538" width="5750" msid="114850638" hostid="261" sizebytes="544158"></div><a target="_blank" class="" href="https://www.businessinsider.com/rolls-royce-spectre-ev-interior-tour-photos-review-2023-7">Rolls-Royce</a>, the British marque owned by BMW, has also faced weaker sales in China this year. Its luxury car marker was experiencing "more challenging times," CEO Chris Brownridge told Bloomberg in September.The Chinese market has become increasingly difficult for European brands.Volkswagen was dethroned by <a target="_blank" class="" href="https://www.businessinsider.com/byd-seal-electric-car-review-test-drive-elon-musk-tesla-2024-3">BYD</a> as China's biggest carmaker last year, and the share of China's car market held by German automakers has dropped from about a quarter before the pandemic to less than 15%, according to Bloomberg data."China is an incredible challenge, not just for Porsche," said finance chief Lutz Meschke in comments reported by Reuters. "In the future, we can no longer assume that China will return to where it was for European players."<h2 id="16591c84-687a-45c6-9996-fcfa8cb9e4a0">High-tech competition</h2>Upmarket European automakers are being squeezed by their Chinese rivals.Many are offering vehicles <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-makers-battle-for-market-dominance-with-smart-features-2024-5">packed full of novel features and intelligent software</a> of them have growing designs on China's high-end auto market, and areLast year Tesla rival BYD launched the Yangwang U8 SUV last year. The $150,000 hybrid has a motor on each wheel that allows it to move <a target="_blank" class="" href="https://www.businessinsider.com/byd-chinese-tesla-rival-yangwang-u9-supercar-jump-dance-2023-4">like a crab</a>.The U8 also comes with an onboard drone, and BYD says it can even <a target="_blank" class="" href="https://www.businessinsider.com/china-ev-giants-innovation-ai-auto-show-european-rivals-despair-2024-10">float on water for up to 30 minutes</a>.Other Chinese automakers have gone to even greater lengths to stand out in the country's red-hot auto market, with Zeekr showing off the spacious and luxurious interior of its MIX minivan by having an executive eat a hot pot inside it.<div type="image" title="Zeekr Mix" height="3024" width="4032" msid="114850635" hostid="261" sizebytes="755406"></div>The competitiveness of the Chinese market means consumers don't need to spend a fortune to obtain luxury vehicles.The SU7, an electric sedan built by Chinese smartphone maker Xiaomi, is <a target="_blank" class="" href="https://www.businessinsider.com/xiaomi-su7-chinese-ev-features-specs-photos-ford-ceo-2024-10">packed with high-tech features</a> including a 16.1-inch infotainment screen and remote voice control that allows drivers to control household appliances from the car.But it is also relatively affordable, with the base version starting at 215,900 yuan ($30,300) and the high-end SU7 Max priced at 299,900 yuan ($42,100). Xiaomi has just <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-xiaomi-su7-driven-by-fords-ceo-faster-model-2024-10">unveiled a high-performance version of the SU7</a> that costs 814,900 yuan ($114,000).Steve Dyer, managing director at AlixPartners, a London-based consulting firm, told Business Insider that Chinese manufacturers were encroaching on the premium market from the "bottom up," targeting the lower segment before gradually releasing more expensive vehicles aimed at less price-sensitive customers."The Chinese companies are doing what the Korean companies did to get market share outside Korea, and that is to offer a lot of feature content for a good price," he said.Dyer said Chinese buyers often focused on luxurious interiors, as well as intelligent technology such as advanced driver assist systems — an area in which <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-full-self-driving-technology-china-local-competition-2024-4">Chinese automakers excel</a> and their European rivals have struggled to keep up."They've fallen behind in the sense that they're applying an automotive product development mindset to a fast-moving, rapidly changing, technology space," said Dyer.A study by AlixPartners found that Chinese automakers released 40 over-the-air software updates between March 2023 and February this year, compared with just two from legacy automakers."It's a typical software mindset. You're willing to launch a product quickly, even though it may need fixing later because you know you can fix it," said Dyer.<h2 id="a63ec01b-1782-4334-a38c-155f7b0a6f6e">Hard to quit</h2>Despite a challenging environment, Western premium automakers can ill afford to give up on China. It remains Volkswagen's second- biggest global market, behind Western Europe, and Mercedes sold around a third of its cars there last year.<div type="image" title="Xiaomi SU7" height="1663" width="2500" msid="114850641" hostid="261" sizebytes="189460"></div>They're likely to face a bumpy road as they try to recover, however.Because the premium vehicle market is less price-sensitive, Dyer said more Chinese automakers will move into it to diversify away from China's brutally competitive mass market.As well as increased competition, European automakers face a geopolitical headache.Tim Urquhart, principal automotive analyst at S&amp;P Global Mobility, told BI the <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-vehicles-european-tariffs-retaliation-vw-bmw-mercedes-tesla-2024-10">European Union's tariffs on Chinese automakers</a> meant Beijing could impose levies on European car imports in retaliation."They could be facing a perfect storm if those tariffs are imposed as well," he said.Even if that does happen, Urquhart said the sheer size of the Chinese market means it's unlikely that major Western automakers will abandon it anytime soon. "They can't afford to make a full-scale retrenchment and retreat from their current position, especially as they've invested so much there."

Luxury European automakers are getting crushed in China

<ul class="summary-list"><li>Tesla's Cybertruck was released a year ago, but there's still no sign of it coming to Europe.</li><li>Tesla displayed the pickup at the Paris Motor Show this week, and BI had the chance to see it.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/cybertruck">Tesla's Cybertruck</a> has been dividing opinion ever since it launched last year — but not in Europe, where the electric truck is still yet to go on sale.The automaker brought <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk's</a> postapocalyptic pickup to the <a target="_blank" class="" href="https://www.businessinsider.com/china-ev-giants-innovation-ai-auto-show-european-rivals-despair-2024-10?utm_source=Iterable&amp;utm_medium=email&amp;utm_campaign=campaign_Insider%20Today,%20October%2017,%202024">Paris Motor Show</a> this week, where I had the chance to see it.It's hard to overstate how striking the trapezoid truck is in person. The absence of any curves and fanatical devotion to symmetry makes the Cybertruck seem like it was dropped from another planet.Amid the numerous cars on display in Paris, the sheer audacity of the pickup's design made a real impression.<div type="image" title="The Cybertruck on display at the Paris Motor Show" height="1875" width="2500" msid="114372872" hostid="261" sizebytes="235898"></div>Big, beefy pickup trucks are already a rarity in Europe, with the continent's narrow streets and dense urban environments <a target="_blank" class="" href="https://www.businessinsider.com/tiny-evs-byd-seagull-cars-transport-china-us-2024-5">more suited to smaller models</a>. The Cybertruck's brutalist style and sheer size make it unlike any vehicle I've ever seen.In some ways, that's the point, and the reason the Cybertruck has <a target="_blank" class="" href="https://www.businessinsider.com/tesla-cybertruck-new-status-car-celebrities-billionaires-2024-2">become such a status symbol in the US</a>. The pickup's divisive design seems deliberately calculated to shock and provoke.<h2 id="bcacabc3-755d-40a3-8558-371cd43704fe">Not for me</h2>Eventually, however, the shock wore off and was replaced by a strange sense of futility. I do appreciate Tesla's attempt to do something a bit different — but I'm not that enthusiastic about driving around a car that looks like a giant boxcutter.The sheer size of the Cybertruck is also an issue. As someone who spent much of the past few years whizzing around narrow British country lanes in a 12-foot-long Toyota Yaris, the idea of trying to back something as bulky as the <a target="_blank" class="" href="https://www.tesla.com/en_gb/cybertruck">nearly 19-foot Cybertruck</a> into a parking space doesn't appeal too much.<div type="image" title="A smudge on the door of a Cybertruck displayed at the Paris Motor Show." height="1875" width="2500" msid="114372875" hostid="261" sizebytes="97614"></div>Neither do the Cybertruck's famously sharp edges, which have already seen <a target="_blank" class="" href="https://www.businessinsider.com/tesla-cybertruck-owner-says-cut-wrist-injury-accident-2024-5">some owners report injuries in the US</a>.The <a target="_blank" class="" href="https://www.businessinsider.com/cybertruck-upkeep-barkeepers-friend-tesla-fanatics-2024-3">Cybertruck's propensity for fingerprint smudges</a> was also apparent. The vehicle in Paris had already picked up small blemishes around the edge of one door.The Cybertruck drew a huge crowd in Paris, but the reaction from attendees wasn't all positive.Two attendees told BI the pickup was "too big" for the European market, with one joking that the truck was larger than his house.<h2 id="fca2d485-57c3-4ff3-93f7-fddc92157376">No sign of a European debut</h2>Despite being available for over a year, Tesla has not yet indicated whether it plans to sell the Cybertruck in Europe, one of its most important markets.Experts <a target="_blank" class="" href="https://www.businessinsider.com/cybertruck-elon-musk-tesla-not-sold-europe-anytime-soon-2023-12">previously told BI that the Cybertruck</a>, which weighs <a target="_blank" class="" href="https://www.tesla.com/ownersmanual/cybertruck/en_us/GUID-12A976DD-EB60-431B-AFF1-5A37E95006DB.html">8,860 to 9,200 pounds</a> or around 4.43 to 4.5 tons when factoring in passengers, fluids, and cargo — is likely too heavy to be driven in Europe with a standard driver's license.You need a separate license to drive anything heavier than 3.5 tons — including passengers and cargo — in the European Union. In the US, the threshold is much higher, which means you don't need a special license to drive the Cybertruck.A few Cybertrucks have reached the continent using sneaky tactics to get around regulations, but even those have faced stern opposition.Campaign groups <a target="_blank" class="" href="https://www.transportenvironment.org/articles/safety-groups-call-on-czech-government-to-review-registration-of-dangerous-cybertruck">called for Cybertrucks to be removed from European roads</a> earlier this month after one was successfully registered in the Czech Republic.<div type="image" title="Cybertruck on display at the Paris Motor Show" height="1875" width="2500" msid="114372870" hostid="261" sizebytes="378298"></div>Elon Musk previously floated the idea of producing a smaller version of the Cybertruck for European markets.But even if Tesla did manage to get approval to sell the pickup in Europe, it's unclear whether there would be demand for it.Pedro Pacheco, vice president of research at Gartner, previously told BI that the tiny market for pickup trucks in Europe meant it may not be worth Tesla's trouble to sell the Cybertruck across the Atlantic."For a vehicle in the category of the Cybertruck, there's not a huge market in Europe, because pickup trucks generally are not very common," he said.Tesla did not respond to a request for comment from Business Insider.

I saw the Tesla Cybertruck for the first time. It blew my tiny European mind.

<ul class="summary-list"><li>Toyota and BMW both reported plunging profits on Wednesday.</li><li>The Japanese and German automakers have faced falling sales in China.</li></ul>China's EV giants are rising, putting foreign automakers under pressure in the world's largest car market.Toyota and BMW reported a drop in quarterly profits on Wednesday, with sales in China slumping for both companies as they face growing competition <a target="_blank" class="" href="https://www.businessinsider.com/why-byd-is-beating-tesla-ev-rivals-china-2024-11">from local automakers like BYD</a>.Toyota's profit for the quarter ending in September was 573.7 billion yen ($3.7 billion), down from nearly 1.28 trillion yen ($8.3 billion) over the same period last year.The company is grappling with a slowdown in sales in China and its home market, Japan.According to Toyota data released in October, sales in Japan plunged by nearly 17% in the first nine months of the year.In China, meanwhile, Toyota is facing fierce competition from local EV giants like BYD. Thanks to their affordable electric vehicle range, BYD has <a target="_blank" href="https://www.businessinsider.com/germany-auto-giants-volkswagen-bmw-mercedes-struggle-sales-china-evs-2024-10">rapidly taken market share from foreign firms</a>.Sales in China were down just over 10% in the first nine months of the year, with Toyota attributing the drop to "severe market conditions" such as "intensifying price competition."Luxury European carmaker BMW, meanwhile, has also found itself facing weakness in China and a high-profile recall.The German auto group said profit before tax dropped nearly 80% in the third quarter from the previous year as it reported earnings on Wednesday.BMW previously cut its financial outlook after recalling more than 1.5 million vehicles due to a braking system issue. The automaker said deliveries fell 30% in China in the third quarter.Like its German rivals Mercedes and Audi, BMW has been hit by stuttering demand for luxury vehicles in China — and it is also facing <a target="_blank" class="" href="https://www.businessinsider.com/luxury-european-carmakers-china-sales-competition-electric-vehicles-bmw-mercedes-2024-10">pressure from local rivals</a>.BYD and smartphone maker Xiaomi have made efforts to expand into the premium market. BYD launched the $150,000 Yangwang U8 SUV last year, and Xiaomi recently unveiled a <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-xiaomi-su7-driven-by-fords-ceo-faster-model-2024-10">high-performance version of its SU7 luxury sedan</a>.Toyota and BMW did not respond to a request for comment, sent outside normal working hours.

Toyota and BMW are the latest casualties in China's evolving EV market 

<ul class="summary-list"><li>This is an excerpt from the Insider Today newsletter.</li></ul>The future of the White House has been decided. So what does that mean for the rest of us?A pillar of President-elect Donald Trump's campaign was the economy and the work he would do to "fix it." He even adopted the slogan in the final days of election season.We have a few more months until he gets to work, but there are already indications of who will and won't <a target="_blank" href="https://www.businessinsider.com/donald-trump-election-victory-impact-investments-costs-housing-taxes-childcare-2024-11">benefit financially from those plans</a>. Let's break it down:WinnersStock investors: The three major US indexes — S&amp;P 500, Nasdaq Composite, and Dow Jones Industrial — surged to record highs as <a target="_blank" href="https://markets.businessinsider.com/news/stocks/us-election-trump-stock-rally-rise-sp500-outlook-regulation-mergers-2024-11">Trump's return is considered a boon for the market</a>. The president-elect's plan to cut corporate taxes is probably the biggest catalyst for the rally. But the potential for deregulation, helped by a GOP-majority Senate and potentially House, is more wind for stocks' sails.Tesla shareholders: The EV giant took off with news of Trump's win, finishing the day up almost 15%. CEO Elon Musk's big bet on the former president has paid off, with one analyst describing <a target="_blank" href="https://www.businessinsider.com/donald-trump-election-victory-tesla-shares-elon-musk-ev-president-2024-11">Trump's victory as a "home run" for Tesla</a>. Another said the regulatory hurdles Tesla faces with its autonomous driving technology could be expedited with Trump in office.Bitcoin believers: Trump was largely viewed as the more favorable option for digital currencies, and that's already playing out with <a target="_blank" href="https://markets.businessinsider.com/news/stocks/bitcoin-price-btc-record-high-donald-trump-victory-presidential-election-2024-11">bitcoin reaching record highs and eclipsing the $75,000 mark</a> on Wednesday. The self-appointed "crypto president" has also helped the sector's stocks like Coinbase, which finished the day up more than 31%.LosersPeople hoping inflation stays low: Trump has hammered the current administration for the high inflation that plagued the country throughout 2022 and 2023. But most economists believe the president-elect's plan for a minimum <a target="_blank" href="https://www.businessinsider.com/global-reaction-donald-trump-election-victory-tariffs-trade-disputes-2024-11">10% blanket tariff on most imported goods</a> will flare inflation back up. The tax meant to generate money for the US government is seen ultimately getting passed down to the US consumer, <a target="_blank" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">leading to higher prices</a>.Potential homebuyers: Inflation concerns could result in a tighter monetary policy, <a target="_blank" href="https://markets.businessinsider.com/news/bonds/surging-treasury-yields-after-trump-win-show-borrowers-may-not-get-relief-2024-11">which means mortgage rates will stay high</a>. Bond yields are already soaring, indicating the market expects the cost of borrowing to keep rising. The 10-year US Treasury yield, which mortgage rates closely track, spiked to 4.477%, its highest level since early July.Investors in Europe: <a target="_blank" href="https://www.businessinsider.com/trump-presidency-impact-election-europe-economic-growth-gdp-goldman-sachs-2024-11">European growth stands to take a hit</a> from Trump's proposed tariffs, according to Goldman Sachs. The bank's analysts downgraded their growth forecasts across the region to 0.8% from 1.1% for next year, citing policy uncertainty arising from tariffs as a major cause. At least one European is happy, though. The French national Polymarket "whale" <a target="_blank" href="https://www.businessinsider.com/polymarket-whale-banked-48-million-profits-trump-president-election-win-2024-11">banked $48 million in profits</a> from their Trump election bet.The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Ella Hopkins, associate editor, in London. Grace Lett, editor, in Chicago. Amanda Yen, fellow, in New York. Milan Sehmbi, fellow, in London.

The market is already indicating the early winners and losers from Trump's win

"Every once in a while, a revolutionary product comes along that changes everything," Steve Jobs said when he unveiled the iPhone in 2007. He was right; the world was never the same. But the <a target="_blank" href="https://www.businessinsider.com/guides/tech/iphone-16-review">iPhone 16</a>? Meh.The newest model, which hit stores in September, is off to a straggling start. Apple analyst Ming-Chi Kuo estimated that first-weekend <a target="_blank" href="https://www.businessinsider.com/guides/tech/iphone-16">preorder sales</a> were down by nearly 13% compared with first-weekend sales for last year's iPhone 15. The iPhone 15 also had an underwhelming start to the year: from January to March, Apple reported a 10% year-over-year drop in phone revenue. In the 17 years since the original came out, the release of a new iPhone has gone from the marquee tech event of the year to little more than a software update wrapped in cellophane.Replacing that hype is a new kind of hype: for old iPhones. The global market for refurbished smartphones grew by 5% year over year from 2021 to 2022, according to Counterpoint Research. <a target="_blank" href="https://www.businessinsider.com/companies-requiring-return-to-office-rto-mandate">Apple</a> made up half of the resold-phone marketplace in 2022. It accounted for about a quarter of new smartphones shipped globally in late 2023, according to market intelligence firm International Data Corporation. (The company also sells its own refurbished products.) In Europe, some 43% of people have already owned a refurbished phone, according to a 2023 survey conducted by Vodafone and Recommerce Group, a tech buyback company. Zion Market Research estimates that in the US, the market for used phones could grow by about 13% a year through 2032.Glen Cardoza, a senior research analyst at Counterpoint, says a few things are driving the used-phone revolution. People are more aware of refurbished phones, thanks to ad campaigns and word of mouth. Learning that your friend has an iPhone 12 and still manages to be the most active member of your group chat may make you more likely to get a used phone yourself. The quality of repairs and guarantees from refurbished-phone sellers have improved, making the phones less risky to buy. Some shoppers care about <a target="_blank" href="https://www.businessinsider.com/florida-man-refused-leave-hurricane-proof-home-basically-unharmed-milton-2024-10">environmental impact</a>, but high prices are the chief concern. "With incremental improvements between new smartphone versions, a growing share of consumers feel that refurbished options are better," Cardoza tells me in an email. "They do not mind using a cheaper refurbished model that has most of the recent features."Refurbished-tech sellers think this is their moment to seize. <a target="_blank" href="https://www.businessinsider.com/back-market-raises-510-million-as-valuation-soars-57-billion-2022-1">Back Market</a>, a secondhand-tech marketplace based in France, has raised more than $1 billion and is on track to become profitable in Europe for the first time this year, says CEO Thibaud Hug de Larauze. During a recent press conference, he revealed the company had served 15 million customers and sold 30 million items, indicating that Back Market has had a good number of repeat buyers during the past 10 years. Phones are the majority of Back Market's sales, but the company also sells, among other items, smart watches, headphones, laptops, and video-game consoles. Refurbished tech is now among the five most popular secondhand categories purchased on eBay.Hug de Larauze is extremely bullish on the future of secondhand tech: He predicts that within 10 years, 90% of adults could be buying refurbished products or opting to repair their devices rather than buying new ones. "People start to actually realize there is not that much innovation in the next product," he tells me. Consumers are also uncertain about <a target="_blank" href="https://www.businessinsider.com/iphone-16-apple-intelligence-ai-does-not-matter-to-customers-2024-9">all the AI</a> that companies, Apple included, are baking into their latest devices. "What does it do?" he says. "What does it change in your life?" Hug de Larauze likens the used-phone revolution to the shifts in car sales. Cars are expensive and lose value, and innovation from one model to the next has become negligible. The idea of buying a used car and fixing it as parts break down is normalized. If phones are just as poor of an investment, why not get something more affordable that gets the job done — even if it means sacrificing horsepower and the latest add-ons?Refurbished-phone dealers are also finding creative waves to counter years of marketing that capitalizes on "newphoria," the feeling of elation people get when unboxing a shiny new tech toy. Back Market satirized the idea in an ad last year, showing people eager to grab the new product but mocking the slight changes to buttons and charging ports. The company also recently ran a mystery-phone promotion. For $249 or 299 euros, customers could buy a refurbished iPhone or Android without knowing the model they'd get. The phones sold out in two hours in France and just days in the US, Hug de Larauze says. Back Market didn't provide the total number of phones sold during the promotion, but Hug de Larauze said the sales exceeded the company's expectations. It showed that there are shoppers who care far more about the phone's price than its model.Anmol Aroz, a 23-year-old who works in IT sales in England, says he bought a refurbished iPhone 13 Pro two years ago and saved about £500. He's been impressed with the phone and less impressed by the new features on more-recent models. He feels like he can do enough with ChatGPT on his phone and doesn't need Apple Intelligence yet. Aroz says sustainability was also on his mind, adding that he's not so wooed by new clothes or new tech, both of which lose value quickly. "The second you touch the wrapper, it's £200 down the drain," he says. "I'm pretty much set on sticking to the refurbished route." Amy Marty Conrad, a 34-year-old who lives in the Washington, DC, area says she and her husband have each bought refurbished phones. She's on her second, a Samsung Galaxy S21, which she bought two years ago. She recently replaced the battery, giving it even more life. "I mostly use my phone for calls, email, work, and a camera," she says. "A lot of the other software innovations aren't doing a lot for me." She's also conscious about waste, and she buys clothing and other household items secondhand, too.But perhaps the biggest thing blocking people from buying more secondhand phones is the manufacturers themselves. Through a practice called "parts pairing," in which a replacement part can work only if a company's software recognizes and approves it, tech companies have made it difficult to repair your own phone or to get third-party shops to do so: Replace your cracked iPhone screen at a local repair shop, and your Face ID may never work again. That's changing, albeit slowly. In April, Apple announced it would begin making changes that would allow for some used genuine Apple parts to be put into other iPhones. Apple did not respond to an email asking about updates on the rollout of the change, but the company has long maintained that parts pairing bolsters a phone's security.In March, shortly before Apple's announcement, Oregon passed a law banning parts pairing, becoming the first US state to do so. And while it applies only to devices made after January 1, 2025, it's a major shift for how manufacturers make their future tech fixable. More lawmakers are tackling repair impediments, and the European Union this year adopted laws designed to make it easier for people to get their products fixed by manufacturers or third-party repairers rather than being pushed to replace them.Tim Cook certainly doesn't see the rise of refurbished phones as an existential threat. Even underwhelming sales are underwhelming by Apple's standards. It has already sold an estimated tens of millions of iPhone 16s, and that's before the typical holiday boost and the release of Apple Intelligence. But with consumers' growing AI skepticism and interest in secondhand phones, the company would need to summon the kind of dazzle unseen since Steve Jobs' presentation in 2007 to reverse the trend of dwindling excitement with the iPhones 17, 18, 19, and 20.Two years ago, I bought a refurbished iPhone 11 from Back Market after the display on my iPhone XR suddenly became unusable. It didn't have the upgraded camera or 5G — but the phone let me text, doomscroll on social media, and take decent photos, and it had good battery life. In an age of constant tech changes, sometimes all you need is for a phone to be a phone.<a target="_blank" rel="" class="" href="https://www.businessinsider.com/author/amanda-hoover">Amanda Hoover</a> is a senior correspondent at Business Insider covering the tech industry. She writes about the biggest tech companies and trends.

The market for used phones is growing. Apple should be scared.

<ul class="summary-list"><li>European stocks are pricing in a Trump win, Barclays said.</li><li>Exporters have underperformed the broader European market by 15% since spring.</li></ul>With the US election less than two weeks away, European stocks have already been pricing in a Donald Trump victory, according to Barclays.The firm noted that a basket of European exporters — or those companies most vulnerable to tariffs — has underperformed the benchmark European Stoxx 600 by 15% since early spring.Barclays says this is reflective of investors preemptively bracing for Trump's tariff policy, which has been a cornerstone of his presidential-election platform, under the expectation he will win.<div type="image" title="Barclays chart showing how stocks exposed to tariffs have underperformed the broader index" height="1670" width="2136" msid="114514786" hostid="261" sizebytes="87238"></div>"Tariff concerns have been a drag on EU equities' relative performance year-to-date," Barclays analysts led by Emmanuel Cau wrote on Wednesday. "In the event of a full-blown trade war, we could see up to a high single-digit drag on EPS growth with Germany, Italy, Cap Goods, Autos, Beverages, Tech, Chemicals most at risk."Barclays did note that some European firms have relocated production to the US since 2018, which could somewhat limit the impact of Trump's trade policy on the whole market. But it's still worried about the possible side effects."The second-order impact through lower growth and higher inflation (i.e. stagflation) could be more severe, in particular in the case of retaliation and a trade war," Barclays wrote.The US will also feel the impact. The firm forecasts Trump tariffs will be a 3.2% drag on S&amp;P 500 earnings-per-share next year, with the most negative impact affecting materials, discretionary, industrials, technology, and healthcare. Beyond that, retaliatory measures would generate an additional 1.5% hit to forward EPS.The note suggested a possible rebound for Europe's markets if Kamala Harris wins. Her policy would also boost clean and renewables in the region, which have also underperformed on the chances of a Trump win.

One global market is already pricing in a Trump victory

<keyword id="19991358" type="General" weightage="100" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> are navigating choppy waters as global economic shifts, from rate cuts to evolving political climates, create new pressure points across the financial landscape, according to a recent report by ANI attributed originally to the Union Bank of India. The domestic stock and bond markets showed signs of strain, with <keyword id="19910363" type="General" weightage="20" keywordseo="bond-yields" source="keywords">bond yields</keyword> witnessing slight adjustments. India’s 10-year government bond yield dipped to 6.82%, a decrease from the previous session, reflecting cautious investor sentiment as the markets react to shifting global indicators. Meanwhile, the 5-year bond yield remained steady at 6.76%, a signal of lingering hesitation amid economic unpredictability. In the currency market, the rupee faced a notable decline, ending the day at ₹84.3725 against the US dollar, slipping from its prior close of ₹84.2800. Market analysts point to significant capital outflows as a key factor, with investors moving funds to perceived safer assets overseas. This migration has weighed heavily on the rupee, underlining the currency’s vulnerability in an environment of global economic flux. India’s stock market bore the brunt of this volatility, with key indices falling over 1%, effectively erasing the gains of a previous rally. This abrupt drop reportedly reflects renewed investor anxiety, largely triggered by the recent <keyword id="20189882" type="General" weightage="20" keywordseo="US-presidential-election" source="keywords">US presidential election</keyword> results. Experts suggest that the election has introduced a fresh layer of uncertainty, not only for the US economy but for global markets, impacting everything from policy decisions to investor sentiment. Analysts are also keeping a close eye on upcoming decisions by central banks, which will likely shape the path forward for the Indian equities market. Commodities showed contrasting trends, with Brent crude prices falling on lower demand expectations, as economic indicators point toward cautious spending globally. Gold, on the other hand, experienced a modest rise as investors sought refuge in safe-haven assets, highlighting a shift towards risk aversion among market participants. Globally, major central banks made coordinated efforts to sustain economic growth, with the Bank of England (BoE) announcing a 25 basis-point cut, lowering its benchmark rate to 4.75%. The BoE’s Monetary Policy Committee (MPC) largely backed this move to counter inflation, which has been declining, albeit gradually. Across the Atlantic, the US Federal Reserve mirrored this action with its own 25 basis-point cut, a sign of confidence in the ongoing economic recovery. Both rate cuts, though modest, signal a global trend towards caution as economies work to balance growth with stability. In Asia, the People’s Bank of China (PBoC) maintained its supportive stance. Governor Pan Gongsheng sought to reassure foreign investors by reaffirming the PBoC’s commitment to growth-oriented policies. Pan emphasized enhanced communication and pledged to open China’s financial services sector further, aiming to attract more international participants. Europe, meanwhile, faced mixed economic signals. Germany reported a steep 2.5% drop in industrial production in September, signalling a slowdown in manufacturing, while the Eurozone saw a mild 0.5% rise in retail sales, reflecting cautious consumer optimism in the region. Adding another layer to the global economic landscape, the European Union’s Climate Change Service warned that 2024 could be the hottest year on record, underscoring urgent climate challenges just as the UN COP29 climate summit approaches. The summit, set to take place in Azerbaijan, aims to rally increased funding for climate action, though tempered expectations linger in light of recent US political shifts. On the domestic front, Niti Aayog CEO BVR Subrahmanyam spoke about India’s potential role in pivotal global trade agreements, specifically the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). These partnerships, Subrahmanyam suggested, could bolster India’s Micro, Small, and Medium Enterprises (MSME) sector, which currently accounts for 40% of India’s exports, offering a strategic advantage for Indian trade in an interconnected world. As the Indian markets digest these developments, experts believe continued volatility could be the theme for the coming months. (with ANI inputs)

Indian markets under pressure as global rate cuts stir uncertainty, new report says

<ul class="summary-list"><li>BMW CEO Oliver Zipse says a 2035 gasoline ban will hit the European auto industry.</li><li>Easing the ban, he said, would help reduce the EU's reliance on China for batteries.</li></ul>The European Union needs to move away from its planned ban on gasoline vehicles if it wants to reduce reliance on China for batteries, <a target="_blank" class="" href="https://www.businessinsider.com/bmw-ceo-oliver-zipse-tesla-growth-sales-struggle-electric-vehicles-2021-2">BMW</a> CEO <a target="_blank" class="" href="https://www.businessinsider.com/production-chief-zipse-named-new-boss-at-automaker-bmw-2019-7">Oliver Zipse</a> said on Tuesday.Zipse was addressing attendees at the Paris Automotive Summit when he criticized the EU's requirement for all new cars and vans to have zero emissions from 2035.The law, which was approved by EU countries in March 2023, is part of the region's efforts to achieve climate neutrality by 2050."For the automotive industry, geopolitical resilience and access to markets and raw materials remains critical to success and future viability, while also reducing dependencies on China through openness to technologies," Zipse said on Tuesday.A "correction" of the planned 2035 gasoline vehicle ban, Zipse said, would help reduce European OEMs' reliance on China for batteries.Earlier in his speech, Zipse said the EU's ban could "threaten the European automotive industry in its heart" and "lead to a massive shrinking of the industry as a whole."BMW's decarbonization efforts, Zipse told summit attendees, weren't just focused on the vehicles they produced, but also on their supply chains."To maintain the successful course, a strictly technology-agnostic path with the policy framework is essential," Zipse said."The only thing that counts in the end is the tonne of CO2 that is not emitted and the earlier the better, and not the technological way how this reduction is achieved," he added.Representatives for Zipse at BMW didn't immediately respond to a request for comment from Business Insider sent outside regular business hours.Several Western auto chiefs have commented on the challenges and difficulties that could arise from transitioning their industry to electric vehicles.<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stellantis-leverages-its-management-organisation-with-changes-to-drive-performance-under-the-leadership-of-carlos-tavares-1033836989">Stellantis</a> CEO <a target="_blank" class="" href="https://www.businessinsider.com/bmw-stellantis-renault-auto-giants-on-chinese-ev-competition-2024-10">Carlos Tavares,</a> who helms an automaker that owns brands like Chrysler, Fiat, Jeep, Maserati, and Peugeot, is advocating for a short transition from combustion engine vehicles to electric ones.On Monday, Tavares said in an interview with the Financial Times that automakers will find themselves in a "<a target="_blank" class="" href="https://www.businessinsider.com/stellantis-ceo-slow-ev-transition-big-trap-automakers-2024-10">big trap</a>" if the EV transition slows.This, Tavares said, is because automakers will have to continue to invest in both electric and gasoline vehicles, thus incurring higher costs."When you make a longer transition, in fact, you don't replace the old world by the new one. You add up the new world to the old," he said.EV sales have been <a target="_blank" class="" href="https://www.businessinsider.com/electric-car-ev-sales-prices-problem-transportation-2024-1">declining</a> in Europe in recent months. In August, EV registrations fell by nearly 44% compared to the same month a year ago, per the European Automobile Manufacturers' Association.That's on top of the steep competition Western automakers are facing from their Chinese counterparts like <a target="_blank" class="" href="https://www.businessinsider.com/how-chinese-automaker-byd-rose-to-challenge-tesla-2024-4">BYD</a>.Mercedes-Benz CEO <a target="_blank" class="" href="https://www.businessinsider.com/china-electric-cars-mercedes-benz-ola-kallenius-european-union-tariffs-2024-3">Ola Källenius</a> told attendees at the Berlin Global Dialogue conference on October 2 that the Western auto industry is fighting a "<a target="_blank" class="" href="https://www.businessinsider.com/western-auto-chiefs-industry-locked-in-darwinian-battle-with-china-2024-10">Darwinistic-like price war</a>" with their Chinese rivals.This, he said, could eventually result in "market purification.""Many of those players that are around now. Many of those are not going to be around five years from now," Källenius continued."You must control your nerves, keep on investing, keep on innovating and make sure that at the end of that Darwinian battle, that you are one of the combatants that are left and that's what we are focusing on," he added.

BMW CEO: A 2035 gasoline ban will hit the European car industry 'in its heart' and make it reliant on Chinese batteries

<ul class="summary-list"><li>Europe is clamping down on Chinese electric cars.</li><li>The EU voted to impose sweeping tariffs on Chinese carmakers on Friday.</li></ul>Europe is <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-companies-hit-with-new-tariffs-in-the-eu-2024-6">clamping down on Chinese electric cars</a> — but the move to protect the continent's automakers could create a new problem for the likes of Volkswagen and BMW.The European Union <a target="_blank" class="" href="https://ec.europa.eu/commission/presscorner/detail/en/statement_24_5041">voted to impose sweeping tariffs</a> on Chinese EV makers on Friday as it seeks to protect its automotive industry from what the bloc claims are <a target="_blank" class="" href="https://www.businessinsider.com/eu-chinese-ev-subsidies-market-cheap-prices-cars-2023-9">unfairly subsidized cheap Chinese electric vehicles</a>.The move will see China's fast-growing EV makers hit with a maximum 35.3% tariff on their vehicles, on top of an existing 10% levy. They will be as low as 7.8% for Teslas made in China, with the highest for manufacturers such as MG owner SAIC.The decision to impose the new tariffs wasn't unanimous, with Germany and Hungary among the nations expected to have voted against them.Germany has faced pressure from its automotive industry, with companies like Mercedes-Benz Group and BMW that sell large numbers of cars in China concerned the Chinese government might retaliate.China is the biggest market for Volkswagen, which sold 3.23 million vehicles in 2023, up 1.6% on the previous year, despite what it called a "challenging market environment."The BMW Group sold almost 825,000 BMW and MINI vehicles in China last year, up 4.2%, while Mercedes-Benz car and van sales dipped 2% to about 770,000.German Finance Minister Christian Lindner posted on X on Friday that the new tariffs "should not trigger a trade war.""We need a negotiated solution," he wrote.Investors appeared relaxed about a potential sales threat, however, with VW stock trading 2.5% higher, BMW up 1.8% and Mercedes-Benz 1.5% ahead in Frankfurt on Friday.Hungary, meanwhile, has bet big on EVs under <a target="_blank" class="" href="https://www.businessinsider.com/trump-praises-hungarian-leader-viktor-orban-leader-of-turkey-gaffe-2023-10">Viktor Orbán</a>, with BYD setting up <a target="_blank" class="" href="https://www.businessinsider.com/byd-saic-chinese-ev-makers-plot-world-takeover-2024-6">its first European manufacturing plant in the country</a>.The tariffs are meant to provide European carmakers breathing space as they transition to selling all-electric vehicles by the <a target="_blank" class="" href="https://www.businessinsider.com/jeep-chrysler-stellantis-halting-belvidere-illinois-plant-blaming-electric-vehicles-2022-12">EU's target of 2035</a>.But they also run the risk of Beijing retaliating, with the Chinese government already opening investigations into a range of European products.<h2 id="140f6f42-8327-4541-b56d-b6faf5d45fad">Sliding sales</h2>Meanwhile, <a target="_blank" class="" href="https://www.businessinsider.com/ev-sales-europe-slumping-warning-sign-us-2024-9">EV sales in Europe slumping</a>, and many companies are growing increasingly nervous about the prospect of big fines if they fail to meet strict emissions targets that kick in next year.The CEO of French carmaker Renault warned last month that if EV sales stay at the same level, the European car industry may face fines of up to 15 billion euros ($16.5 billion)."Everyone is talking about 2035, in 10 years, but we should be talking about 2025 because we are already struggling," Luca de Meo told French radio in comments reported by Reuters.Experts have warned that any changes to these emissions targets could hurt Europe's already stuttering EV sales.A report from the NGO <a target="_blank" class="" href="https://www.transportenvironment.org/articles/tariffs-wont-save-european-ev-manufacturing-if-eu-drops-co2-targets-analysis">Transport &amp; Environment</a> found that while tariffs on Chinese EV companies would likely be effective, delaying the 2025 emission targets could hamper the rollout of more affordable European EVs, potentially leaving consumers with fewer cheap electric options.The report said that delaying this target would cause European car manufacturers to continue prioritizing more profitable combustion engine vehicles, delaying the rollout of cheaper EVs and ultimately hurting sales."Higher EV tariffs are right but only in tandem with the car CO₂ targets. They are part of a coherent industrial policy to boost electric car production in Europe," said Julia Poliscanova, a senior director at Transport &amp; Environment."The EU risks having the worst of both worlds if it delays the 2025 CO₂ targets while limiting the affordable models imported from China," she added.The EU did not immediately respond to a request for comment from Business Insider.

The EU just made Chinese EVs a lot more expensive — and created a new threat for European automakers

<ul class="summary-list"><li>Contractors are developing a rocket artillery system for Europe that could rival HIMARS.</li><li>The heavier EuroPULS could carry twice as many rockets.</li></ul>Europe is building a multiple rocket launcher that resembles America's HIMARS, the ground-fired weapon that took on the precision strike missions that Ukraine's battered air force couldn't.<a target="_blank" href="https://www.knds.com/fileadmin/user_upload/content/Newsroom/PressAreas/2024_Eurosatory/EuroPULS/KNDS_DB_Ansicht_EuroPULS_EN.pdf">EuroPULS</a>, a truck-mounted multiple rocket launcher, is a collaboration between Franco-German defense firm KNDS and Israel's Elbit Systems. It's based on Elbit's Precise and Universal Launching System, or <a target="_blank" href="https://elbitsystems.com/product/puls/">PULS</a>, which is fielded by the Israel Defense Forces and several European nations.This raises the question of whether EuroPULS will be a competitor to HIMARS, or High Mobility Artillery Rocket System, a decades-old launcher which made its name in the Ukraine war. Comparing EuroPULS to HIMARS reveals platforms that are similar in concept. EuroPULS is mounted on an eight-wheel truck chassis, while HIMARS uses a six-wheel vehicle. A KNDS fact sheet describes EuroPULS as being 34-feet long, and weighing 38 tons, with a maximum road speed of 55 miles per hour.That makes it much heavier than HIMARS, which has a combat-loaded weight of 18 tons. But a larger vehicle can carry more rockets. EuroPULS has two pods, which can fire 12 rockets in 60 seconds, depending on the munition. HIMARS has one pod that can fire six GMLRS rockets or one long-range ATACMS missile. The price for a EuroPULS system hasn't been disclosed. But a HIMARS launcher costs almost $5 million apiece, according to 2024 US Army <a target="_blank" href="https://www.asafm.army.mil/Portals/72/Documents/BudgetMaterial/2024/Base%20Budget/Procurement/Missile%20Procurement%20Army.pdf">budget</a> figures, while a GMLRS rocket costs more than $100,000 each.European armies already field multiple launch rocket systems. Many, such as France's LRU and Germany's MARS 2, are based on the U.S. <a target="_blank" href="https://www.military.com/equipment/m270-multiple-launch-rocket-system">M270</a>, a tracked mobile rocket launcher, and its Guided Multiple Launch Rocket System rockets.<div type="image" title="One HIMARS launcher can carry six GMLRS rockets or one longer-range ATACMS ballistic missile." height="1333" width="2000" msid="111553882" hostid="261" sizebytes="204808"></div>EuroPULS broadens that menu of munitions. EuroPULS can fire a "mix of European legacy and PULS rockets," according to KNDS. Elbit markets a variety of PULS pods. Pod choices include 18 Accular 122-mm rockets with a range of 22 miles, 10 Accular 160-mm rockets with a range of 25 miles, four EXTRA extended-range rockets that can reach out to 93 miles, and two Predator Hawk weapons with a range of 186 miles. Different pods can be mounted on the same vehicle.What's also notable is that KNDS and Elbit are touting the ability of EuroPULS to fire all sorts of rockets. KNDS says the system is "adaptable to future missiles." Elbit says EuroPULS "will form the basis for a modularly scalable and flexible artillery system that can be integrated to fire from any mobility platform with pinpoint accuracy and safety. The open EuroPULS concept does not exclude any provider of respective missiles from cooperation enabling EuroPULS users to employ those."This suggests that EuroPULS could fire the GMLRS rockets launched by HIMARS. Except that HIMARS manufacturer Lockheed Martin has said that's not an option. "Our MLRS Family of Munitions cannot be integrated into the PULS system," a Lockheed Martin executive told <a target="_blank" href="https://www.defensenews.com/global/europe/2024/06/18/citing-missile-mismatch-lockheed-snarls-at-himars-challenge-in-europe/">Defense News</a>. "If Germany was to opt for PULS they could not gain access to our missiles."Whether EuroPULS could rival HIMARS is complicated. HIMARS does enjoy the immense advantage of its reputation in the Ukraine war, where it proved crucial in helping halt Russia's invasion in 2022. HIMARS rockets <a target="_blank" href="https://www.reuters.com/world/europe/ukraine-says-it-has-destroyed-50-ammunition-depots-using-himars-war-with-russia-2022-07-25/">destroyed</a> Russian ammunition depots and headquarters, disrupting logistics and command and control, and spurring Russian forces to move vital facilities deeper behind their lines. HIMARS and other GPS-guided weapons such as HIMARS have recently lost some of their luster, as extensive Russian jamming of GPS signals has <a target="_blank" href="https://www.businessinsider.com/russian-electronic-warfare-shows-us-needs-for-future-wars-2024-5">degraded</a> the accuracy of guidance systems. But for now, multiple rocket launchers are prized items.On the other hand, KNDS can use economic incentives as a carrot, or at least for European customers; Lockheed Martin produces its guided HIMARS rockets at plants in the US. The KNDS fact sheet stated that "European production base of launcher and ammunition planned."HIMARS is used, or has been ordered, by more than a dozen nations. But Elbit's PULS has already had some success in Europe, with the Netherlands and Denmark purchasing it, and <a target="_blank" href="https://www.janes.com/osint-insights/defence-news/weapons/future-artillery-2024-germany-plans-to-procure-puls-mrls">Germany</a> planning to buy five to replace MARS 2 launchers sent to Ukraine, and possibly as many as 89.To some extent, HIMARS may be a victim of its popularity, with questions about whether Lockheed Martin can meet surging demand for the launchers and rockets, though the company plans to boost <a target="_blank" href="https://www.thedefensepost.com/2024/02/19/lockheed-himars-production-60/">manufacturing capacity</a>. Ukraine for example has ordered new HIMARS launchers and the US Defense Department is replacing the launchers and missiles from its arsenal that it provided to Ukraine."Demand for such military capabilities risks outstripping supply, given limitations on how quickly industrial production capacity can be ramped up and given the need to also backfill or provide systems for Ukraine," James Black, assistant director for defense at the RAND Europe think tank, told Business Insider. "There are also industrial policy and security of supply questions at play, with many nations hoping to assure access to production lines and munitions in times of crisis or war, and with many countries hoping to secure lucrative domestic or export contracts. Collectively, such trends are prompting some militaries to consider possible alternatives to the US HIMARS system, though certainly that remains a major player in this competition for contracts."Michael Peck is a defense writer whose work has appeared in Forbes, Defense News, Foreign Policy magazine, and other publications. He holds an MA in political science from Rutgers Univ. Follow him on <a target="_blank" href="https://www.twitter.com/@mipeck1">Twitter</a> and <a target="_blank" href="https://www.linkedin.com/in/mipeck/">LinkedIn</a>.

A European rival to HIMARS takes shape 

<ul class="summary-list"><li>Market analysts predicted choppy trading and sharp swings going into the US presidential election.</li><li>Donald Trump and Kamala Harris are locked in a tight race, fueling uncertainty among traders.</li></ul>Market analysts are braced for volatility ahead of Tuesday's presidential election as traders <a target="_blank" class="" href="https://www.businessinsider.com/the-trump-trade-stock-market-bonds-commodities-tariffs-fed-2024-7">shuffled their bets</a> on a Donald Trump or Kamala Harris victory.The Republican and Democratic candidates are neck and neck in many polls,<a target="_blank" class="" href="https://www.businessinsider.com/wall-street-election-predictions-professional-investor-survey-2024-11"> fueling uncertainty</a> in the finance world over who'll emerge triumphant, and clouding the outlook for everything from tax and trade policy to corporate regulation and geopolitics.One analyst underscored the<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-trade-djt-bitcoin-harris-election-odds-betting-kalshi-polymarket-2024-11"> critical importance</a> of the election in research notes on Monday, while another touted economic fundamentals as more important to markets and predicted long-term investors would likely win over time. Meanwhile, the Federal Reserve is expected to <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cuts-federal-reserve-election-jerome-powell-inflation-jobs-2024-11">cut interest rates</a> by 25 basis points on Thursday, while China's central bank is set to unveil some form of economic stimulus measures later this week. Here's a roundup of analysts' comments:<h2 id="b051a4d3-ca66-47f5-83ad-6b65851acac1">Naeem Aslam, chief investment officer at Zaye Capital Markets</h2>"US and European stock futures are trading flat as traders continue to focus on one thing and one thing alone, and that is the US elections. Basically, there is nothing else that matters; it is not going to be earnings that would move things in the markets, and it won't be the US jobs noisy number that would make traders think about the US economy. The only thing that is going to keep them occupied is the US election and who will become the next president of the most powerful country in the world."<h2 id="f123d804-bdf0-46b3-b1b2-46b4a53ef227">Joshua Mahony, chief market analyst at Scope Markets</h2>"A shift in the polls seen over the weekend signal the potential for a Harris victory in Iowa; with a surge in the older female demographic signaling a shift that many believe could carry Harris to victory. Coming at a time when markets appeared to have taken a Trump victory as a given, the polls are a timely reminder that betting markets may not be the best indication of who will become the President of the United States."The election looks significantly more of a contest than many had been expecting, which could provide a more protracted and volatile period ahead as we see potential recounts and challenges to potentially drag out this process."<h2 id="4192d8db-abfb-4db3-8486-f24c3eb9af7b">Principal Asset Management</h2>"Despite short-term volatility, historical trends reveal that equities have consistently posted strong gains by the end of a presidential term, underscoring the benefits of maintaining a long-term investment perspective. The drivers of market performance — economic growth, corporate earnings, and innovation — ultimately outshine the impact of political changes."Investors should take caution. Those who allow their political opinions to cloud their investing decisions could miss out on the potential rewards that come with staying invested in the market over the long-term."<h2 id="5a32ad08-8e3d-45d5-a08a-4420d2d2de45">Hal Cook, senior investment analyst at Hargreaves Lansdown</h2>"With the election being an effective coin toss, betting on a specific outcome doesn't seem sensible. Instead, remember that diversification is your friend."<h2 id="989e296a-dd0f-43f5-90c6-c0bd1cc6ef19">Kathleen Brooks, research director at XTB</h2>"The main US blue-chip index is up 20% year-to-date, which does not suggest that the market is seriously pricing in the risk of civic violence after this election, which could rock financial markets and cause a global wave of risk aversion."An interesting development leading up to this election is that financial markets expect Trump to win, and the Trump trade has performed well in recent weeks, as you can see in the chart below. The Trump trade is a stronger dollar, weaker bonds/ higher bond yields and stronger crypto. With one day left of this campaign, the dollar is falling, and the dollar index is at a two-week low. Thus, if Harris does win on Tuesday we could see a rapid unwinding of this trade, a sharp weakening of the dollar and intense volatility in the FX and bond market."We expect Monday and Tuesday to be quiet for markets, however, once we get the first drip feed of results on Tuesday night and Wednesday morning, expect fireworks."

Prepare for market volatility but don't panic trade, analysts say ahead of Election Day  

<ul class="summary-list"><li>Hedge fund managers who do best in choppy markets are not convinced by the post-election euphoria.</li><li>These managers, like $16 billion firm Universa Investments, believe warning signs are flashing.</li></ul>The first Donald Trump administration included policy announcements via Twitter, a pandemic, and protectionist tariffs that agitated the country's largest trade partner.His second term could be even more "radical" for markets, according to Jonathan Webb, an executive at portfolio technology company C8 Technologies and the former head of FX strategy at Jefferies."The backdrop is already a more volatile FX market," Webb said, comparing markets to when Trump was inaugurated the first time in January 2017. Higher interest rates, struggling European economies, and global inflation have created a more volatile world regardless of who won the election."Throwing Trump in, even moreso," Webb said.For managers that trade volatility and hedge against market crashes, these types of conditions are normally when their strategies come into play. But market volatility is at its lowest levels since July, according to the VIX index, Wall Street's favorite measure of uneasiness. Assets from US stocks to bitcoin are hitting all-time highs despite the economic backdrop — the Federal Reserve cut rates in September, indicating a slowing economy — being far from ideal."When people think things can't go down, that's when you start to worry," said Brandon Yarckin, the chief operating officer of $16 billion tail-risk asset manager Universa Investments, in an interview with Business Insider. He pointed out that billionaire Warren Buffett's Berkshire Hathaway is sitting on more cash than ever before — a sign that the Oracle of Omaha thinks markets are overvalued."There's a lot of kindling for a crash out there," Yarckin said.The euphoria and fear of missing out on the rally means investors are not knocking down the door of those who thrive in chaotic conditions. Universa has demand for its strategy currently, Yarckin said, but it's coming from "a small subset of people."Simon Aninat, a volatility portfolio manager for Natixis affiliate Seeyond, said clients haven't asked to revive a long-volatility strategy that performed well during the early days of the pandemic, but was closed in mid-2023 due to a lack of demand. Firms such as Universa soared during COVID — the Mark Spitznagel-led strategy returned <a target="_blank" href="https://markets.businessinsider.com/news/stocks/black-swan-fund-universa-investments-4000-percent-return-hedging-coronavirus-2020-4-1029076165">more than 4,000%</a> in the first quarter of 2020, for example."We know there's going to be bumps in the road during a Trump administration, but it's hard to be sure that there'll be a big spike of the VIX above 40," Aninant said. Instead, clients are more interested in the firm's short-volatility fund, which does well when markets stay calm.It's "counterintuitive," Aninant said, given Trump's management style, but clients believe the President-elect's policies mean "the S&amp;P will continue to rise."Allocators should be looking for "not necessarily spicy but uncorrelated strategies," said Mattias Eriksson, a former BlueCrest partner who cofounded C8 Technologies in 2017."He was tweeting a lot back then, and he created a lot of intraday volatility within the market," Eriksson said, referring to Trump's first term.Now, Eriksson's colleague Webb said, there's the potential for even more out-of-the-box policies given the presence of people like Tesla founder Elon Musk in Trump's orbit, and the fact Trump does not have to worry about reelection."I wonder if this is being underestimated" by the markets, Webb said."It's certainly an experiment."

You Searched For "European markets" and got 13 results

Amul thinking to enter European market after US success, MD Jayen Mehta calls it the lifeline for rural India

BI India Bureau

Luxury European automakers are getting crushed in China

Tom Carter

I saw the Tesla Cybertruck for the first time. It blew my tiny European mind.

Tom Carter

Toyota and BMW are the latest casualties in China's evolving EV market

Tom Carter

The market is already indicating the early winners and losers from Trump's win

Dan DeFrancesco

The market for used phones is growing. Apple should be scared.

Amanda Hoover

One global market is already pricing in a Trump victory

Filip De Mott

Indian markets under pressure as global rate cuts stir uncertainty, new report says

BI India Bureau

BMW CEO: A 2035 gasoline ban will hit the European car industry 'in its heart' and make it reliant on Chinese batteries

Kwan Wei Kevin Tan

The EU just made Chinese EVs a lot more expensive — and created a new threat for European automakers

Tom Carter

A European rival to HIMARS takes shape

Michael Peck

Prepare for market volatility but don't panic trade, analysts say ahead of Election Day

Theron Mohamed

Markets are ripping past all-time highs after Donald Trump's electoral victory. Doomsday investors aren't convinced.

Bradley Saacks

Popular Keywords

Buying Guides