World Street | Rising US inflation, delivery delays of Boeing jets, GM hires former Tesla and Google executives, etc.

Rising prices for used cars, air travel and clothing pushed U.S. inflation higher in February, reinforcing the Fed’s cautious stance. Boeing’s delivery delays are worrying U.S. airlines. Intel has an advantage in chip sales to Huawei. GM’s manufacturing chief steps down, replaced by former Tesla executive. Goldman Sachs aims to aggressively expand its portfolio. This edition of World Street has it all.

Insights on inflation

U.S. core inflation beat expectations in February for the second month in a row, driven by higher prices for used cars, air travel and clothing. This will strengthen the Fed’s cautious stance on interest rate adjustments.

According to government statistics released on March 12, the core consumer price index, which excludes food and energy, rose 0.4% from January and 3.8% from the previous year.

boeing blues

US airlines say their expansion plans could face setbacks due to further delays in Boeing’s jet deliveries, potentially exacerbating the impact of the aircraft maker’s safety problems in the sector. I warned you.

Ongoing problems with Boeing Co. have forced the airline industry to lower its delivery forecasts for this year and challenge it to meet a surge in travel demand.

silicon alliance

Intel has managed to survive an attempt to halt hundreds of millions of dollars worth of chip sales to China’s Huawei. This will allow global chipmakers to maintain business relationships with Chinese telecom companies despite facing hefty sanctions. Reuters reported.

The paper said the Biden administration is being asked to revoke a license issued by the previous administration that allowed Intel to supply Huawei with cutting-edge laptop processors.

drive dynamics

Global sales of all-electric vehicles and plug-in hybrid vehicles (PHEVs) rose slightly by 3% year-on-year in February, mainly due to the impact of the Chinese New Year, according to market research firm Rho. Motio.

“The reason for the low growth rate is that the electric vehicle market is still dominated by China,” said Charles Lester, data manager at Lowmotion. Reuters.

Transfer of human resources

General Motors (GM) has bid farewell to its longtime manufacturing chief and replaced him with a former Tesla and Google executive. After 44 years with the automaker, Gerald Johnson, executive vice president of global manufacturing and sustainability, is stepping down.

Jens Peter “JP” Clausen, who previously worked at Tesla, Lego and Google, will take over Johnson’s role. GM also announced the unexpected departure of Mike Abbott, executive vice president of software and services.

Portfolio pursuit

Goldman Sachs Asset Management aims to grow its private credit portfolio from the current $130 billion to $300 billion within five years, said Goldman’s global head of assets and wealth management. Mark Nachman said. Reutershas launched an aggressive expansion plan.

Goldman’s private credit aspirations are greater than peers such as Morgan Stanley, which aims to double its private credit portfolio to $50 billion over the medium term.