Uber Announces Electric Fleet for 2040

Automotive manufacturers worldwide are beginning to consider the concept of electric vehicles. This follows after Tesla’s market share continues to grow yearly. With additional models slated to release under Elon Musk’s watch, competing manufacturers must release their respective electric vehicles to maintain their profits.

Electric vehicles becoming more commonplace will assist other industries like Taxis Services. This became evident after the Uber Company announced on September 8th that by 2040, their fleet would be entirely electric worldwide. North America & the European Union have an earlier date listed in 2030. Their announcement comes as corporations are globally be pressured to become “Socially & Economically Responsible”.

Accomplishing this goal won’t be easy and will be financially costly for the international corporation. Uber confirmed that they’re dedicating $800 Million towards assisting drivers in their switch to an electric vehicle. This will require partnerships with manufacturers like General Motors, Tesla, Toyota, and the Ford Company. Discounts will be provided to drivers & grants given through Uber Corporate. This guarantees minimal cost to Uber’s workforce.

The Uber Company offers an electric fleet of vehicles in fifteen cities across the United States & Canada, costing consumers an additional $1.00 for the driver’s services. Representatives with the transportation firm guaranteed that 65 cities worldwide will be maintained by years end, even amidst the COVID-19 pandemic.

Uber Competing Against Lyft

The Chief Executive Officer of Uber North America, Dara Khosrowshahi, provided a press release through her Twitter account. He expressed that it’s the responsibility of Uber to tackle the world’s most prominent challenge, climate change. Uber’s CEO noted a company-wide desire to use assist against this growing fight. Sentiments from Dara Khosrowshahi ended with the CEO stating they weren’t the first transportation firm to announce their electric fleet, with Lyft getting that privilege.

Lyft announced in June 2020 that they’d move towards an electric fleet by 2030, making this pledge months before Uber. Lyft’s announcement was praised & left Uber having to make a similar promise or face backlash. Uber will work with Renault, General Motors, and Nissan to ensure that its workforce can sustain the switch over to electric vehicles. General Motors will assist with North American markets, Renault with European Markets, and Nissan with both.

Walmart+ Announcement Raises Shares by 6%

The Walmart Corporation shocked its investors & consumers by announcing a subscription service that focuses on their grocery products. August 31st marked the date when “Walmart+” was announced & an immediate positive reaction was seen throughout Wall Street. Forthcoming perks associated with this membership program saw an influx of pre-registrations, allowing for the Walmart Corporation to have their shares increase by 6%. It marks a 52-Week peak for the supercentre company, creating a company valuation of $418 Billion.

Walmart revealed its subscription-based grocery service would become operational on September 15th. Consumers can select to purchase monthly subscriptions at $12.95 or save $57.40 by choosing the yearly package. Year-long subscribers will payout $98.00 for their commitment to Walmart+.

Details were provided on what consumers can anticipate when subscribing to the Walmart Corporation, which will include “Unlimited Free Home Delivery’ for 160 thousand products. Those products aren’t exclusively groceries and extend towards apparel & entertainment. Consumers purchasing orders worth more than $35.00 will receive $0.05 discounts at Walmart Fuel Stations throughout the United States. The final subscription feature awarded on the September 15th launch date is skipping checkout lines at Walmart locations in America. Canadians won’t have access to the Walmart+ Subscription Service.

Consumers that don’t engage with the Walmart+ subscription service & continue to use their delivery service will pay anywhere from $7.95 to $9.95. The cost is dependent on the associated weight, time slot, and selected products. All 4700 Walmart locations are supporting the subscription service starting on the 15th. New workforces are being hired to account for increased deliveries, which has assisted with the company’s valuation increasing to $418 Billion. It should be mentioned that their valuation is considerably lower than their main rival of Amazon, which is worth $1 Trillion.

Competing with Amazon

The Chief Customer Officer of Walmart, Janey Whiteside, denied that their subscription service is intent on competing with Amazon Prime. The CCO remarked that the two subscriptions are entirely different, with the Amazon Company supported a multitude of features with Prime. Janey Whiteside said that Walmart+ is meant to be a life hack, saving families money on their monthly expenses.

Kevin Mayer Departs as TikTok CEO

Reports surrounding the acquisition of TikTok have fueled the business community since President Donald Trump announced their effective ban in the United States. The ban comes after data revealed that ByteDance, the operators of TikTok, was collecting information for the Chinese Government. This social media product took American consumer data & multiple other nations, including South Africa.

After learning that TikTok would be banned in America, ByteDance employed the services of Kevin Mayer for their North American Chief Executive Officer. Kevin Mayer left Disney as “Head of Streaming Services” to take over as TikTok CEO. That decision has proven unfavourable for Mayer, with it being announced that two months after taking this position, he’ll be leaving amid the impending ban. It’s unknown if Kevin Mayer will receive another Executive Role at a major American company.

An official letter was issued to North American TikTok Employees and leaked minutes later to CNBC. Kevin Mayer emphasized that the political environment throughout the United States has changed drastically & sharply, prompting him into the reflection of corporate structural changes. This is Mayer’s way of warning that Donald Trump won’t stop with TikTok and begin attacking other companies in America with affiliation to China. Considering that POTUS is looking towards banning WeChat & other social media services from China, Kevin Mayer is likely correct.

Sentiments from Kevin Mayer continued with the former TikTok CEO mentioning that the political backdrop against ByteDance will resolve shortly, but this means his involvement with the company won’t be permitted any longer. Most were expecting Mayer to keep his role in the Microsoft & Walmart restricting of TikTok, honouring that he’d taken over responsibilities two months ago. It appears that won’t be the outcome of negotiations with Microsoft & Walmart.

It should be mentioned that Beijing & Washington have grown tenfold with their tensions towards one another. The Presidency of Donald Trump has been detrimental towards international relations, not just with China & America either, but worldwide amongst all nations engaging with China. Having the two global superpowers attacking each other through trade will imply adverse outcomes onto international financial markets.

Goodyear Company Attacked by President Trump

The President of America, Donald Trump, has demanded that supporting constituents boycott the Goodyear Company. The Tyre Company has experienced an influx of controversy over political correctness at their workplace. Goodyear has informed employed personnel that attire bearing Trump campaign logos, slogans, or symbols won’t be allowed. However, Goodyear is permitting workforces to stand for politically correct movements like LGBTQ rights & Black Lives Matter.

The Goodyear Company defended its actions, noting that Terms of Employment emphasize that activism supporting racial injustices isn’t permitted. That extends to numerous other social equality issues, including Gay Rights & Immigration. Goodyear altered legislation in 2019 to create a workplace that’s inclusive and respectful. When President Donald Trump attacked Goodyear, their shares plummeted by 6%. That percentage was regained in hours after POTUS made these attacks via Twitter. It shows the lack of influence Trump has over financial markets.

Donald Trump proved himself foolish again by making these public attacks. One of the President’s main standing points for his 2020 campaign is supporting American companies. Attacking the most prominent tyre manufacturer in the United States proves that unless these companies support Trump, he won’t stand beside them & protect their corporate rights. It should be clarified that it’s illegal for an American President to slander businesses in a public format. However, Trump regularly breaks POTUS Law.

Leaked documents from the Goodyear Company showed employed personnel what attire is “Acceptable”, and which are “Unacceptable”. Non-Permitted clothing includes the MAGA logo (Make America Great Again), and attire with All Lives Matter represented. The Trump administration emphasized that companies are allowing for “Black Lives Matter” clothing to be worn. This Administration also finds it’s disturbing that “Blue or All Lives Matter” clothing isn’t allowed. Goodyear claimed they support all groups in America when their mutually exclusive, meaning not racist.

Companies Fight Against Trump

The United States of America is becoming split between two parties, those that stand for equality & those that support racism. Goodyear has chosen to stand with justice, which is consistent amongst hundreds of other corporations. President Donald Trump is finding himself repeatedly struggling to overcome these companies, with his demands for boycotts coming unwarranted. Trump has even found himself being targeted by Twitter & Facebook, with racist posts from Donald being revoked without the President’s permission.

UK Economy Shrinks by 20.4%

The United Kingdom economy has shrunk by 20.4% since Q2 2020, marking the most prominent drop recorded since after World War Two. It’s placed the United Kingdom into a deep recession, more significant than any other global economy of G7 status. Stalemates in economic growth aren’t surprising in the United Kingdom; it’s something their financial analysts had warned when social distancing protocols were actively being broken. High infection numbers & loss of life prompted the UK workforce to decline tenfold, with the added attribute of prolonged lockdown measures forcing thousands of companies into closure.

UK’s GDP began collapsing in January 2020, the moment when COVID-19 began inflicting the European Union with its devastating symptoms. Declines stopped being record after June 2020, consistent to the end of Q2 2020. Economic damage for the 3rd and 4th Quarter will now be recorded, with Analysts expecting more prominent drops. Construction, Manufacturing, and Hospitality Services will continue to take the onslaught of these losses. Economic losses in the United Kingdom will likely drop by 35% by 2020s end.

The UK Finance Minister provided a formal statement regarding the confirmed percentages. Rishi Sunak emphasized that the 20.5% economic drop affirms that the United Kingdom has entered their worst recessions since WW2. Rishi clarified that thousands had lost their jobs, with higher number expects in the coming months. The Finance Minister didn’t hesitate to inform UK Civilians that harder times are coming, with more difficult choices ahead. Rishi Sunak believes that Great Britain & their commonwealth territories can survive the upcoming recession, which is historically consistent to the UK.

Enforcement Required

The United Kingdom is sustaining the most prominent recessions in the European Union and amongst their partnered G7 Nations. Records from France, Germany, Italy, and the United States have experienced 50% less of the economic fallout that Great Britain has experienced. Government Data in the United Kingdom incentivizes a prolonged lockdown for the continued economic stalemate.

Until their population obeys COVID-19 Protocols, losses will be sustained. Prime Minister Boris Johnson has struggled to enforce these measures, similar to President Donald Trump. Their communities are actively avoiding scientific data on COVID-19, believing the virus is a hoax or that face masks are necessary. These are the beginning implications of that mentality.