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The World Salon is delighted to launch the "Daily Digest", where we handpick must-know news of each sector for our subscribers. In today's fast-paced world, staying informed is paramount, but it is easy to get overwhelmed by the numerous newsletters that bombards your inbox each day. Our solution offers a concise yet comprehensive overview of the most significant developments impacting various industries.
China Sets Tighter Targets on Energy Efficiency:
On Tuesday, China announced tighter targets for energy intensity for 2024, following its failure to meet the previous year's target. As the largest consumer of energy globally, China is taking steps to ensure it does not lag in achieving its climate objectives outlined in the five-year plan concluding in 2025. The country plans to reduce its energy intensity, which measures the energy consumed per unit of economic output, by 2.5% in 2024. This target is more ambitious than the 2% goal set last year, which was not achieved, according to a report from the National Development and Reform Commission (NDRC) disclosed at the start of the annual National People's Congress. (Reuters)
Biden's New Rule calls to question the U.S.'s ability to meet energy targets:
The Biden administration’s decision to exclude the existing U.S. fleet of natural gas power plants from carbon emissions regulations casts doubt about the nation's ability to meet its climate goals. Cleaning up the U.S. power industry, source of about a quarter of the nation’s greenhouse gas emissions, has been a central plank of President Joe Biden’s strategy to decarbonize the nation’s economy by 2050 to counter global warming. (Reuters)
Traton Truck and Bus Sales Jumped:
Traton revenue jumped last year on higher sales and the company on Tuesday proposed a higher shareholder dividend. The Volkswagen-owned commercial-vehicle maker’s sales revenue rose to a record 46.87 billion euros as truck and bus sales jumped 11%. Analysts had expected sales at EUR46.14 billion. The parent company of Scania, MAN, Navistar, and Volkswagen Truck and Bus said its operating result jumped to EUR3.76 billion from EUR1.56 billion in 2022. Traton’s adjusted margin of 8.6%, surpassing the top end of its estimate of 8.5%. (WSJ)
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