?? Tesla Faces Union Pressure in Sweden, Amazon Targets AI Skills Gap, Ford Scales Back EV Plant, Baidu's Q3 Revenue and more.

Hello, dear readers! ??We hope you had a great week.? Here's your weekly update on the latest news from finance and markets.

Tesla faces growing union pressure in Sweden as dock workers refuse to offload its cars, and over 120 mechanics go on strike, demanding the company sign a collective agreement. This follows a recent 4% pay increase for Tesla's German workers, leaving their wages still 20% below the industry standard. Meanwhile, Amazon aims to address the AI skills gap with its "AI Ready'' program, offering free AI skills training to 2 million individuals globally by 2025. In another development, Ford is scaling back its planned $3.5 billion electric vehicle battery plant in Michigan, citing lower EV demand and cost considerations. Baidu reported Q3 revenue of $4.72 billion, slightly beating expectations with a 6% YoY growth, while Broadcom completes its $69 billion acquisition of VMware after overcoming regulatory delays.?

Stay tuned for more updates in the dynamic world of finance and markets! ??

Tesla faces union backlash in Sweden as dockworkers and mechanics strike over labor agreements

Tesla is encountering increasing union pressure in Sweden, where dockworkers are refusing to offload its cars and over 120 mechanics are striking, demanding the electric vehicle maker sign a collective agreement. This labor unrest follows a recent 4% pay increase for Tesla's German workers, still leaving their wages 20% below the industry standard under collective agreements.

Amazon targets AI skills gap with free training for 2 Million people by 2025

Amazon announces the "AI Ready" program, aiming to provide free AI skills training to 2 million individuals globally by 2025, in response to the widespread AI talent shortage. The initiative includes eight free courses and scholarships for over 50,000 students, backed by their recent investment in AI education and collaborations with organizations like Code.org.

Ford scales back $3.5 Billion Michigan EV plant amid slowing demand

Ford has announced a significant reduction in the planned capacity of its new $3.5 billion electric vehicle battery plant in Michigan, citing lower demand for EVs and cost considerations. The production capacity will be cut to 20 gigawatt hours from the initial 35, with a reduced workforce of 1,700, aligning with the company's broader strategy to adjust EV investment and manufacturing.

Baidu beats revenue expectations with $4.72 Billion in Q3, Sees 6% growth amid economic challenges

Chinese tech giant Baidu reported a third-quarter revenue of 34.45 billion yuan ($4.72 billion), slightly surpassing analyst expectations and marking a 6% year-on-year growth. Despite a slowdown from the previous quarter's 15% surge, the company highlighted increased spending in marketing and R&D, particularly in its AI chatbot Ernie bot, and progress in its autonomous robot taxi business.

Broadcom completes $69 Billion acquisition of VMware amid regulatory delays

After a year and a half and multiple regulatory delays, Broadcom has finalised its acquisition of VMware for $69 billion, following the last approval from Chinese officials. The completion of this deal, which faced uncertainty due to U.S.-China tensions, leads to VMware's shares ceasing trade on the NYSE and a slight dip in Broadcom's shares despite recently reaching an all-time high.

We would be happy to hear your thoughts on this edition and what we can improve on. For any feedback or collaboration opportunities, please e-mail us on [email protected].

All market index and stock data are as of the most recent close time.?For sources of information click here.

The content on this page is for information purposes only, it does not expressly or implicitly provide financial, legal, tax, or investment advice or recommendations, the opinions are those of the author. Individual investors should make their own decision when investing as investing in securities carries risk and it’s the individual investor’s responsibility to assess the risk before making any decision. It’s the investor’s sole responsibility to make their own decisions and determine the appropriateness of an investment or strategy based on their own personal investment objectives, financial circumstances, and risk tolerance. Past performance is no guarantee of future results. Historical returns, expected returns, and probability projections are provided for informational and illustrative purposes and may not reflect actual future performance. Any articles, daily news, analysis, and/or other information contained in the blog should not be relied upon for investment purposes. The content provided is neither an offer to sell nor purchase any security. Opinions, news, research, analysis, prices, or other information contained on our Blog, or emailed to you, are provided as general market commentary. InvestSky does not warrant that the information is accurate, reliable, or complete. Any third-party information provided does not reflect the views of InvestSky. InvestSky shall not be liable for any losses arising directly or indirectly from misuse of information. Each decision as to whether a self-directed investment is appropriate or proper is an independent decision by the reader. All investing is subject to risk, including the possible loss of the money invested. ?

InvestSky Financial Limited is regulated by the Dubai Financial Services Authority (“DFSA”) in the Dubai International Financial Center (“DIFC”) and holds a Category 4 license in Arranging Deals in Investments with retail endorsement and is not authorized to hold client assets or client money. Please visit our disclosure page on investsky.com.