Business and Finance
General Motors Recognized by Department of Energy for Innovative Energy Efficiency Project –
The Department of Energy (DOE) honored General Motors for an modern energy efficiency project at its Fort Wayne Assembly Plant that reduced natural gas consumption by 30% in comparison with a 2019 baseline.
During a visit to the plant, Maria Vargas, director of the Better Climate Challenge at DOE, praised GM’s leadership in energy efficiency and toured the plant. implemented system that uses waste heat from gas-fired generators to heat the plant and forestall emergency sprinkler systems from freezing during colder months. This pioneering heat recovery system is ready to be replicated at GM’s St. Catharine’s Propulsion Plant in Ontario, with the brand new system expected to be operational next yr.
This project aligns with GM’s broader sustainability goals, which include reducing greenhouse gas emissions from operations by 72 percent by 2035 and achieving carbon neutrality by 2040. The energy savings from this initiative are significant, akin to the energy needed to heat 4,900 homes for a full yr. In addition, reduced natural gas and electricity use translates to annual savings of $3.5 million for GM.
Kathi Walker, GM’s director of global sustainability strategies, said, “Working with GM’s energy team, Fort Wayne Assembly employees developed an energy solution that helps promote reduced carbon emissions during the assembly of our best-selling trucks. Whether we build electric or internal combustion vehicles, we are committed to maximizing the sustainability of our manufacturing processes.”
Last yr, Fort Wayne Assembly’s 4,300 employees produced greater than 292,000 Chevrolet Silverado 1500 and GMC Sierra 1500 trucks. GM’s plants in Indiana collectively employ greater than 6,200 people. According to a study by Oxford Economics, GM’s operations in Indiana support an extra 15,050 jobs through partners, suppliers and other stakeholders. GM has been a key player in Indiana for nearly 90 years and has announced greater than $2.8 billion in investments within the state’s manufacturing sector since 2013.
General Motors is committed to driving an all-electric future that’s inclusive and accessible to all. Central to this strategy is the Ultium battery platform, designed to power a spread of vehicles from mass-market to high-performance. GM, its subsidiaries and joint ventures offer vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. For more information concerning the company and its subsidiaries, including OnStar, a worldwide leader in connected vehicle safety services and technologies, visit GM Official Website.
Business and Finance
Here’s why you may be paying Trump’s tariffs
US retailers’ alliance with foreign suppliers could potentially result in higher prices for a variety of products due to Donald Trump’s victory within the White House and his proposed import tariffs, reports
In a report released November 4 by the National Retail Federation (NRF), American consumers I can expect lose $46 billion to $78 billion in purchasing power over the following few years on products similar to clothing, toys, furniture, home appliances, footwear and travel items as a consequence of tariffs. NRF Vice President for Supply Chain and Customs Policy Jonathan Gold issued an announcement explaining what the tariff is and the way it affects firms. “A tariff is a tax paid by the U.S. importer, not the foreign country or exporter. This tax will ultimately come out of consumers’ pockets in the shape of upper prices,” Gold said.
“Retailers rely heavily on imported products and manufacturing components so they can offer their customers a variety of products at affordable prices.”
Examples include a $50 pair of sneakers that can go from $59 to $64, or a $2,000 mattress and box spring set for $2,190.
The introduction of tariffs isn’t Trump’s first proposal. During his first term, his administration set a goal of imposing tariffs of as much as 25% on greater than $360 billion in Chinese products. The Biden-Harris administration kept most of those tariffs and added additional ones on Chinese electric cars and microchips.
Under Trump and Vance, the team plans to impose a 60% tax on Chinese-made goods and a 10-20% tax on $3 trillion value of foreign goods imported by the U.S. annually. During the campaign, Trump promised to scale back inflation, but US Treasury Secretary Janet Yellen warned that because the tariffs would be mostly paid, they might only increase them. “A consistent theoretical and empirical finding in economics is that domestic consumers and domestic firms bear the brunt of tariffs, not the foreign country,” the Yale University Budget Laboratory said in a mid-October 2024 evaluation.
Trump, nonetheless, argues that the tariffs will profit the U.S. economy in some ways, similar to encouraging countries to barter more successful trade deals and limiting other countries from “dumping” their products within the U.S. at below-market prices, he says. Another reason is to motivate nations to scale back customs duties on shipments to their countries from the USA
The four-time impeached president-elect has accused other countries of imposing much higher tariffs on imports than the United States, and has also criticized trade agreements – similar to NAFTA – which have led to more foreign imports into the country than US exports to other countries. In 2020, the Trump administration replaced NAFTA with the United States-Mexico-Canada Agreement.
For now, it’s unclear when or if the brand new administration will begin tightening tariffs, as the method requires laws to extend fees, which could take as much as a yr.
Business and Finance
The US dollar fell as voters headed to the polls
The US dollar dropped in value on November 5 as crowds of American voters went to the polls to forged their ballots.
The dollar even fell in betting markets like PredictIt and Polymarket indicated The probabilities of Trump winning the presidential election are increasing, Reuters reports. With Donald Trump returning to the White House with a Republican-led House and Senate, extreme currency movements ought to be expected.
Trump’s immigration and tariff policies are expected to fuel inflation, while tax cuts for the wealthy and deregulation could spur growth by pushing up longer-dated Treasury yields and pushing up the value of the dollar.
By contrast, a Democratic victory was expected to weaken the dollar as bets on Trump were withdrawn, and investors were concerned about the economic impact of upper taxes on the wealthy and stricter business regulations.
“We may be seeing some leveling off… my impression is that people are being cautious,” said Steve Englander, head of worldwide G10 FX research and macroeconomic strategy for North America at Standard Chartered Bank’s New York branch.
“Right now, the mood seems to be in favor of Trump,” Englander said. “On the other hand, for most of October and early November, Trump’s trading was characterized by a stronger dollar and higher yields.”
Globally, a Trump victory may lead to a weakening of the euro, Mexican peso and Chinese yuan, as these regions could face recent tariffs under his administration. Bitcoin rose 2.76% to $68,928, with Trump’s views seen as more favorable towards cryptocurrencies. Traders are closely watching the Federal Reserve’s two-day meeting that ends on Thursday, expecting the U.S. central bank to cut rates of interest by 25 basis points.
Elsewhere on Tuesday, the U.S. services sector rose to its highest level in greater than two years in October, with employment rebounding strongly. This suggests that the near halt in job growth last month was an aberration.
Business and Finance
First Black-owned gift wrapping brand sold at Lowe’s, Hallmark
Ardean Miller, pioneering entrepreneur Mah Melaninis breaking barriers because the founding father of the primary Black-owned gift wrapping brand, partnering with Hallmark and Lowe’s across the country. With a concentrate on cultural representation, she founded Mah Melanin to fill a niche available in the market for products that commemorate the wonder and variety of black culture.
“When I started Mah Melanin, I wanted to create something more than just beautiful gift packaging. I wanted to start a movement — a place where our stories are told, our beauty is celebrated, and our community is uplifted,” she says. “Partnering with these iconic retailers is a testament to the growing demand for products that reflect our experiences and heritage.”
Breaking down barriers and empowering communities
The partnership with Hallmark and Lowe’s represents a big step toward greater diversity and inclusion within the retail space, reflecting a broader cultural shift. This groundbreaking achievement highlights the growing recognition of the importance of culturally authentic products that encourage and empower.
Under her leadership, Mah Melanin has developed from a small start-up right into a nationally recognized brand. The company has gained endorsements from industry icons comparable to Teddy Riley, Master P and Denise Boutte, and has been noticed by major organizations including an NBA feature and a finalist on QVC’s “The Big Find.” These awards confirm the brand’s commitment to quality, creativity and resilience.
Inspiring the subsequent generation of Black entrepreneurs
He is devoted to not only the success of his brand, but in addition supporting the expansion of other Black entrepreneurs by offering mentorship, sharing resources and creating opportunities for collaboration. Through his efforts, he wants to construct a legacy that can encourage future generations to interrupt barriers and achieve greatness,” he adds.
Mah Melanin’s journey reflects a commitment to celebrating Black culture and amplifying Black and Brown voices through its products, making a profound impact available in the market and beyond.
Discover their products at MahMelanin.com and remember to follow the brand Facebook AND Instagram
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