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10/ 7/ 24, 1: 02 PM The New York Timeshttps:// nytimes. pressreader. com/ the- new- york- times/ 20241007 23/ 42 10/ 7/ 24, 1: 02 PM The New York Times https:// nytimes. pressreader. com/ the- new- york- times/ 20241007 25/ 42 [Extracted from the article]

CarMax, a used car retailer, exceeded revenue expectations for the second quarter due to increased unit sales, particularly in the retail segment, as a result of price cuts on used vehicles. The company has implemented cost-cutting measures in recent years to protect its margins. Ola Electric Mobility Ltd, an e-scooter manufacturer, has launched the "Network Partner Program" to expand electric vehicle adoption in tier-2 and tier-3 cities in India. The program aims to onboard 625 partners initially and plans to have 1,000 partners by the end of the year, with a goal of reaching 10,000 partners by 2025. [Extracted from the article]

A vocal critic of Medicare drug negotiations, Joel White, president of the Council for Affordable Health Coverage, called the announcement of the 10 drugs selected for negotiation "a hollow victory lap." People on Medicare may in 2026 see prices drop for 10 medicines, including pricey diabetes, cancer, blood clot, and arthritis treatments, if advocates for federal drug-price negotiations can implement their plans amid tough opposition. "The big drug companies and their allies continue suing to overturn the Medicare drug price negotiation program to keep up their price gouging. [Extracted from the article]

The article focuses on the emergence of a new marketplace for cheaper, compounded versions of high-demand drugs like Ozempic due to limited supply, with Eli Lilly now offering its weight-loss drug Zepbound in vials at a lower price through its telehealth platform, LillyDirect.

The article focuses on Eli Lilly's decision to offer its weight-loss drug Zepbound in more affordable vials, priced at about half the cost of the existing injection pens. Topics include the cost savings for patients, the difference in drug packaging and administration methods, and the implications for the drug's accessibility and production.

The article titled "Pulses supply improves, Govt asks retailers to cut prices" discusses the declining prices of key pulses varieties in India due to increased imports. The government is monitoring stock availability with wholesalers, importers, and retailers to ensure that the decrease in wholesale prices is reflected in retail prices. If this moderation in prices is not seen soon, actions will be taken. The article also mentions that retail prices have not seen a similar decline as wholesale prices. [Extracted from the article]

Mahindra & Mahindra Ltd., a leading SUV manufacturer in India, has reduced the price of its AX7 range of the XUV700 to INR 19.49 Lakh for a limited time. This price cut is not related to the hybrid vehicle policy of the Uttar Pradesh government, according to Mahindra. The XUV700 AX7 range offers premium features such as adaptive cruise control, a panoramic skyroof, dual HD superscreens, 3D audio with 12 speakers, and leatherette seats. Additionally, Mahindra has launched a rural youth skill development center in Nagpur, in collaboration with VDIA, Yantra India Limited, and Mahindra Tractors, to support Prime Minister Modi's skill development goals. [Extracted from the article]

Target has raised its profit forecast for 2024 after implementing price cuts that attracted more shoppers to its stores. This strategy reflects a trend among retailers, including Walmart, to appeal to price-sensitive consumers. Analysts and industry watchers suggest that while U.S. consumers are looking for deals, they still have some financial flexibility, indicating that they are not in recession mode. Additionally, the rural economy has been credited with contributing to the revival of the fast-moving consumer goods (FMCG) sector. [Extracted from the article]

The article focuses on Derek Jeter, who has finally found a buyer for his sprawling Tiedemann Castle compound in Greenwood Lake, N.Y., after reducing its price to 6.3 million U.S. dollar from an original asking price of over 14 million dollar.

The article discusses the criticism Japan has faced for building its own market with Australian LNG while simultaneously criticizing Australia for diverting gas exports to cut domestic prices. Japan's chief executive of INPEX, Takayuki Ueda, expressed concerns about Australia's reduction in LNG business and its potential geopolitical consequences. However, Japan's energy security is currently stable, with renewables on the rise and a decrease in LNG consumption. The article also highlights Japan's investments in Australian gas projects and the potential economic unsustainability of Australian LNG due to competition from Qatar and the United States. [Extracted from the article]

The article discusses Target's initiative to lower prices on over 1,500 popular items, aiming to attract shoppers concerned about inflation, with reductions extending to household staples like milk and pet food, as other retailers also adjust prices in response to consumer spending patterns.

The article highlights Tata Motors' reduction of electric vehicle prices due to declining battery costs.

The article reports on the oil price cuts in the U.S. and the threat to efforts to reduce greenhouse gas emissions and combat climate change. It cautions about the risks posed by increased oil production including increased demand for fossil fuels, strain on agreements to accelerate the fight against climate and effects of global warming. It informs the pledge made by U.S. President Joe Biden to stop drilling of federal lands and waters offshore and to accelerate renewable energy transition.

According to industry executives citing NielsenIQ, sales growth of fast-moving consumer goods (FMCG) has slowed down in both value and volume during the first two months of the June quarter compared to the previous year, despite price cuts. The overall FMCG market growth rate nearly halved in April and May, with a more pronounced slowdown in urban areas. However, rural areas have seen a slight increase in volume growth compared to last year. Krishnarao Buddha, senior category head for marketing at Parle Products, noted that the slowdown was due to reduced working hours during the summer heat, but there has been some recovery in June and July looks promising. In other news, several large private equity buyout funds are interested in bidding for the Belgian Waffle specialty chain. [Extracted from the article]

Maruti Suzuki has announced a price cut of Rs 5,000 for its AGS variants of certain models. This move is aimed at boosting sales and attracting more customers. The company hopes that the reduced prices will make their vehicles more affordable and appealing to potential buyers. [Extracted from the article]

Maruti Suzuki, a leading automobile company in India, has announced a price reduction of Rs 5,000 for its Auto Gear Shift (AGS) variants of several popular models. The price reduction applies to models such as Alto K10, S-Presso, Celerio, Wagon-R, Swift, Dzire, Baleno, Fronx, and Ignis. This reduction is effective from June 1, 2024. The company aims to make these models more affordable for customers. [Extracted from the article]

Indian Oil Corporation (IOC) reported a significant decrease in net profit for the March quarter due to losses in its petrochemical business and reduced margins caused by a pre-election fuel price cut. The company's net profit fell to Rs 4,837.69 crore, a steep drop from Rs 10,058.69 crore in the same quarter last year. The decline in profit was attributed to lower refining margins, negative performance in the petrochemical segment, and a recent price cut for petrol and diesel. IOC also reported a loss of Rs 1,017 crore from maintaining domestic cooking gas prices without government compensation. [Extracted from the article]

According to a March 2024 monthly economic review by the finance ministry, a cut in oil prices is expected as the capacity of Russian sunflower producing companies increases by 1.475 million tonnes this year. The president of the All India Edible Oil Traders Federation, Shankar Thakkar, stated that the production capacity will be sufficient to process this year's crop, with an estimated surplus capacity of 1.2 million tonnes. Additionally, local agricultural data suggests that the gross harvest of Russian sunflower is estimated to be around 17.6 million tonnes. [Extracted from the article]

Unilever, a major player in the FMCG industry, experienced a slowdown in growth in India's soap and laundry market due to price cuts. The company's top-line growth in the skin cleansing and home care segment was impacted by cheaper alternatives. Unilever's CFO, Fernando Fernandez, attributed the decline in volume to the increase in price and the impact of commodity cost deflation in Asia. This information is sourced from an article on the Economic Times website. Additionally, Amala Earth, a brand in the FMCG industry, has entered the offline market by opening its first store in Delhi and plans to open three more stores in Mumbai, Bengaluru, and Hapser. [Extracted from the article]

Li Auto's shares have risen after the company reported stronger weekly sales and implemented price cuts. The Chinese electric vehicle (EV) maker surpassed Huawei-backed automaker Seres in EV sales during the March 4-10 period, according to a weekly ranking. Li Auto's stock may also be benefiting from the company's decision to lower prices on some of its plug-in hybrid SUV models. The gains in Li Auto's shares could also be attributed to bargain-hunting after a recent selloff and anticipation for the upcoming release of upgraded versions of its flagship vehicles. [Extracted from the article]

Chinese electric vehicle company BYD has reduced the starting price of its cheapest electric car model, the Seagull, in response to increased competition in China's car market. The price cut of around 5% brings the starting price to 69,800 yuan ($9,698). This move follows similar price reductions by rival Tesla, as both companies face pressure due to slowing vehicle sales and overcapacity in the Chinese market. BYD's shipments in February dropped to 121,748 vehicles, while Tesla shipped 60,365 China-made vehicles, according to preliminary data from the China Passenger Car Association. [Extracted from the article]

The article focuses on providing suggestions for taking better aerial photographs while traveling with drones, emphasizing the importance of understanding the drone's capabilities, using low ISO settings, and shooting in RAW format for optimal image quality.

Lucid Motors and other electric vehicle (EV) startups are reducing prices in an effort to boost sales amid slower-than-expected demand. Lucid recently cut the starting price of its Air sedan by 10%, while Rivian Automotive reduced the starting price of its vehicles by about 4%. The auto industry's overestimation of EV demand has led to a wave of price reductions from companies like Tesla, General Motors, Ford, Hyundai, and Kia. These price cuts are particularly challenging for unprofitable startups like Lucid and Rivian, who need to sell more vehicles while also delivering them at a profit. Lower prices are intended to increase the potential pool of EV customers, but they can also negatively impact used-car prices and alienate current owners. [Extracted from the article]

The article reports on the decline in basmati rice prices in India's domestic market as exports decreased due to militant attacks against merchant ships in the Red Sea.

The article reports on the decline in prices of atta or wheat flour in December 2023 following a series of measures taken by the government of India and are likely to remain subdued for the next two-three months.

The article informs the Michelson office tower in Irvine, Californi, which has seen its valuation decreased from its peak value. It discusses indicating a downturn in the office real estate market; the tower's owner, Manulife US REIT, considering a sale of its assets due to market conditions; and drop in valuation comes as other Southern California office properties in the same REIT's portfolio have also faced significant declines in value, including the Figueroa tower in downtown Los Angeles.

Dabur India, a major FMCG company, expects its consolidated revenue to experience mid-single digit growth in the March quarter of FY24. While demand trends remained sluggish overall, there was an uptick in rural consumption due to price cuts in staples. This has resulted in a narrowing of the gap between rural and urban growth rates. Dabur India is optimistic about future consumption, citing a positive outlook for the rabi crop harvest and normal monsoon forecast. [Extracted from the article]

According to a quarterly update by Marico on the BSE, the demand for fast-moving consumer goods (FMCG) in rural areas has surpassed that in urban areas for the first time in nearly three years. This growth in rural demand is attributed to a lower base and price cuts to counter local competition. Rural markets saw a volume growth of 6.5% in December and January, and 11.1% in February, while urban markets grew at a slower pace. This indicates a potential demand recovery in the FMCG sector. [Extracted from the article]

General Motors (GM) has announced that it is resuming sales of the Chevrolet Blazer EV and reducing its price after addressing software quality issues. The largest U.S. automaker had temporarily halted deliveries in December due to concerns raised by early owners. GM has made significant software updates to address these concerns, including improvements to the ambient lighting and battery percentage display. Current Blazer owners will also receive a software update to resolve any issues. [Extracted from the article]

The Railways in India has announced a significant reduction in ticket prices for passenger trains, bringing them back to pre-COVID levels. This move aims to provide financial relief to daily commuters, with prices dropping by approximately 40-50%. Previously, passengers had to pay express fare for passenger train travel, but now Second Class Ordinary Fares have been reinstated. This change went into effect on February 27, and railway authorities have notified Chief Booking Reservation Supervisors of the reversal. [Extracted from the article]

Ola Electric, an electric scooter manufacturer, experienced a significant increase in sales after reducing the prices of its models. According to a report, Ola sold 10,000 electric scooters in just three days following the price cut. The flagship model, S1 Pro, saw a price reduction of Rs 17,500, while the S1 Air had a price cut of Rs 15,000. This news suggests that the price reduction strategy has been successful in attracting more customers to purchase Ola Electric scooters. [Extracted from the article]

The article discusses how companies in the automobile industry are reducing the prices of electric two-wheelers in order to increase their adoption in India. Ola Electric, Ather Energy, and Chetak Technology have all implemented steep price cuts and launched affordable models, narrowing the price gap between electric and petrol-powered scooters. This increased affordability is expected to accelerate the adoption of electric two-wheelers in the country. [Extracted from the article]

The article focuses on Tesla's declining profit from electric car sales in the last quarter of the previous year due to price cuts to counter growing competition, leading to a warning of a challenging year ahead despite an almost doubling of profits.

Shares of European and Chinese automakers have dropped after Tesla reduced prices in Germany and China. In Germany, Tesla slashed prices by 5,000 euros for two versions of its Model Y, while in China, the price of the entry-level Model 3 was cut by 5.9%. The price reductions have negatively impacted the overall sentiment in the auto industry and have been attributed to increased competition and weak demand in the electric-vehicle market. Analysts predict that fiercer competition and flagging demand will continue to put pressure on electric-vehicle pricing in Europe this year. [Extracted from the article]

The article focuses on Hertz deciding to sell about one-third of its electric vehicles (EVs) after they depreciated more quickly than expected, citing Tesla's "unprecedented" price cuts that undercut resale values and revealing challenges in promoting EVs as a solution for climate changes.

According to a Wall Street Journal analysis, many electric-vehicle (EV) startups are facing financial difficulties and are at risk of running out of cash. At least 18 EV and battery startups that went public in recent years may run out of cash by the end of 2024. Some companies have already filed for bankruptcy or been sold at a fraction of their valuations. The industry's struggles highlight the risks of investing in EV startups, as demand has not met expectations and market leaders like Tesla are cutting prices. However, some companies still have enough cash to continue operating beyond 2024. [Extracted from the article]

The article focuses on Amtrak's overhaul of its pricing system, eliminating the Saver fare category and introducing Flex and Value options, including the rationale behind the changes and the influence of federal funds from the Biden administration's infrastructure deal on Amtrak's ability to offer lower fares. Topics include the restructuring of Amtrak's fare system, and the enhancements and initiatives introduced by Amtrak to improve the customer experience and achieve its ridership goals.

The article reports that India reduces the floor price for basmati rice exports, addressing concerns from farmers and exporters about the impact on trade and prices, with authorities indicating an expected reduction in the minimum export price.

The article focuses on Unilever's chief financial officer, CFO, Graeme Pitkethly, highlighted the positive outlook in the Indian market, attributing it to the recovery in rural areas during the past quarter. He indicated the potential for price reductions in core categories like soaps and detergents to stimulate growth. India, which experienced a 9.1% sales growth in the first half of the year, stands as Unilever's second-largest market by revenue, following the U.S.

The article reports on the increased prices of oil resulting from the cuts in production announced by the Organization of the Petroleum Exporting Countries (OPEC). It considers the threat posed by the oil price hike to global efforts to ease inflation. It discusses the alleged strategy of Saudi Arabia to keep oil prices high to keep revenues to support development schemes aimed at diversifying the kingdom's economy away from oil and to restore the credibility of OPEC as a pro-active force.

The article discusses the potential decline in onion prices in India, hinting at rates falling as the Consumer Affairs Secretary mentions, aiming to maintain prices below Rupees sixty per kg until then and implementing an export ban to ensure affordability for Indian consumers.

The article discusses that Tata Chemicals Limited has reduced prices of domestic soda ash for all grades by up to ₹1,500 per tonne, attributing the price cut to oversupply in the domestic market.

The article discusses the Pakistani government's efforts to combat inflation by reducing fuel prices and implementing price controls, as announced by caretaker Prime Minister Anwaar ul Haq Kakar.

The article discusses Tesla's drop in electric car sales in third quarter, attributed to planned factory upgrades in the U.S. and China. It highlights increased competition in the market, particularly in China, and the impact of Tesla's price cuts on its profit margin. It mentions that the company aims to deliver vehicles for the year.