Transport

Commission invites comments on draft revised State aid rules for land and multimodal transport

Retrieved on: 
Tuesday, June 18, 2024

The European Commission has launched today a public consultation inviting all interested parties to comment on its draft rules for land and multimodal transport replacing the Guidelines on State aid for railway undertakings (‘Railway Guidelines') as well as on its new Transport Block-Exemption Regulation (‘TBER').

Key Points: 
  • The European Commission has launched today a public consultation inviting all interested parties to comment on its draft rules for land and multimodal transport replacing the Guidelines on State aid for railway undertakings (‘Railway Guidelines') as well as on its new Transport Block-Exemption Regulation (‘TBER').
  • The rules laid down in the TBER will be complementary to those set out in the new Land and Multimodal Transport Guidelines (‘LMT Guidelines') which will replace the Railway Guidelines.
  • Together, these two sets of rules will form an up-to date and comprehensive rulebook for the granting of State aid in the sustainable land transport sector.
  • Background The proposals under consultation follow the conclusions of the Fitness Check on the existing rules applicable to the land and multimodal transport sector.

Daily News 18 / 06 / 2024

Retrieved on: 
Tuesday, June 18, 2024

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Key Points: 
  • Visit our cookies policy page or click the link in any footer for more information and to change your preferences.
  • In partnership with the Banco Português de Fomento, InvestEU will bring crucial investment projects to life.
  • The 2024 call for the scheme is open and will close on 26 September.
  • Today's inspections are conducted in the context of an investigation for which the Commission carried out inspections earlier in 2024.

The wage-price pass-through across sectors: evidence from the euro area

Retrieved on: 
Tuesday, June 18, 2024

Abstract This paper studies the pass-through from wages to producer prices using sectoral disaggregated data for the euro area.

Key Points: 
    • Abstract This paper studies the pass-through from wages to producer prices using sectoral disaggregated data for the euro area.
    • We find a positive and statistically significant wage-price pass-through that reaches 50% after three years, which differs across sectors.
    • Instead, the estimates hint at an important role for international competition in the domestic market for the tradeable sector.
    • They also suggest that the sales destination matters: wage growth contributes to domestic inflation for goods but not to export inflation.
    • Finally, we also provide evidence of an increase in the wage-price pass-through after 2020, particularly in private services.
    • This illustrates how the link between wages and prices, the so-called wage-price pass-through, is a key element in understanding inflation developments.
    • Our results highlight a sizeable wageprice pass-through in the euro area, which stabilises at around 50% after two to three years.
    • In particular, we show that a higher import penetration in the domestic market lowers the wage-price pass-through in the industrial sector.
    • Overall, our results underscore the importance of considering sectoral heterogeneity when formulating a monetary policy response to wage pressures.
    • ECB Working Paper Series No 28xx 2 1 Introduction As inflation made a come back with the post-pandemic re-openings in 2021, wage developments also took centre stage.
    • This illustrates how the link between wages and prices, the so-called wage-price pass-through, is a key ingredient to understand inflation developments.
    • Our paper is the first to study the pass-through from wages to producer prices in the euro area using sectoral disaggregated data.
    • We highlight a sizeable wage-price pass-through in the euro area, which stabilises at around 50% after two to three years.
    • (2022), we also identify a new international channel at play: the wage-price pass-through in industry matters for domestic sales but not for exports.
    • Evidence for the euro area also shows that the wage-price pass-through is smaller in recessions than in expansions (Hahn, 2020).
    • In the United States, Peneva and Rudd (2017) find little evidence that changes in labor costs have a substantial effect on price inflation in recent years.
    • (2021) document a weakening of the wage pass-through in the United States, and attributes it to better-anchored inflation expectations.
    • Their results also document a weakening pass-through over time, in particular in the goods sector prior to the Covid-19 crisis.
    • (2023) show in a theoretical model that a combined increase in input prices and in wages amplify the total pass-through to prices.
    • Chin and Lin (2023) also find a rising ECB Working Paper Series No 28xx 4 pass-through from wages to consumer prices after the pandemic.
    • (2023) document an increasing inflationary effect, both to producer prices and consumer prices, of supply-chain constraints in manufacturing industries after Covid.
    • Similar evidence has been found for the United States (LaBelle and Santacreu, 2022).
    • The next section describes the data and highlights some salient stylized facts regarding inflation and wage dynamics across sectors.
    • 2 Data collection and stylized facts 2.1 Data collection We rely on dissagregated economic data at the sectoral level for the euro area from Eurostat.
    • More specifically, we gather indices on producer prices (PPI)2 , import prices of industrial goods3 , turnover, gross wages and salaries and hours worked.
    • 5 Specifically, we take the difference in log terms between the indices on gross wages and the indices on hours worked.
    • 9 Domestically produced goods or services can be sold domestically or exported, and the selling prices can differ depending on the sales destination.
    • However, the PPI series for goods sold domestically are only available for the industry sector in Eurostat.
    • ?Full sample? corresponds to the 2009Q1-2023Q2 sample, ?Pre-Covid? to the 2009Q1-2019Q4 sample and ?Post-Covid? to 2020Q1-2023Q2.
    • Table 1 provides summary statistics of the four-quarter change in producer prices, wages per hour worked and input prices.
    • The second and third vertical panels display the figures for the pre-Covid sample (2009Q1-2019Q4) and for the post-Covid sample (2020Q1-2023Q2), respectively.
    • Hence, for any given 2-digit sector s, we employ the change in labour productivity growth of the corresponding 1-digit sector s?.
    • Specifically, a 10% increase in input prices is associated with an increase in 6.9% in producer prices after one year.
    • , 20 quarters whereas the right-hand side panel reports the estimates of ?h from equation 2 separately for industry and private services.
    • We investigate this question for the euro area by estimating our baseline equation 2 separately for the industrial and for the private service sectors.
    • 4.1 Sectoral labour shares Private services sectors tend to be more labour-intensive than industrial sectors (see evidence for the euro area in Figure A1 in Annex).
    • The following columns further suggest that the wage-price pass-through remains non-significant, irrespective of whether the goods are exported to other euro area countries or outside the euro area.
    • Overall, these results provide evidence of an increasing wage-price pass-through in the euro area after Covid.
    • Globalisation and inflation: New cross- ECB Working Paper Series No 28xx 29 country evidence on the global determinants of domestic inflation.
    • More specifically, it asks the following question How do you expect your selling prices to change over the next 3 months?
    • Information on all of the papers published in the ECB Working Paper Series can be found on the ECB?s website.

Wheaton - Bekins Announces Jim Gaw as New President

Retrieved on: 
Wednesday, June 12, 2024

Industry veteran brings operational, business development experience

Key Points: 
  • Indianapolis, Indiana--(Newsfile Corp. - June 12, 2024) - Wheaton | Bekins, the fourth largest van line in the country, taps Jim Gaw, a former Bekins Van Lines executive with a long history in moving and storage, as its new president.
  • Jim Gaw, new president of Wheaton | Bekins, the country's fourth-largest household goods company, which is headquartered in Indianapolis, Ind.
  • Prior to working at Atlas, Gaw worked at Bekins Van Lines as Vice President of International before Wheaton World Wide Moving acquired Bekins Van Lines in 2012.
  • "I am honored to join Wheaton | Bekins and look forward to working with this talented team to build on their strong foundation," Gaw said.

GoSun Introduces Revolutionary Solar EV Charger: The Next Step Towards Sustainable Transportation

Retrieved on: 
Wednesday, June 12, 2024

Figure 1: GoSun Introduces Revolutionary Solar EV Charger: The Next Step Towards Sustainable Transportation

Key Points: 
  • Figure 1: GoSun Introduces Revolutionary Solar EV Charger: The Next Step Towards Sustainable Transportation
    As the world's transition towards renewable energy sources gains momentum, the need for efficient and convenient charging solutions for EVs becomes increasingly crucial.
  • Key features of the EV Solar Charger include:
    Efficient Solar Panels: Utilizes high-performance, lightweight solar panels that convert sunlight into electricity with unrivaled efficiency.
  • Figure 2: GoSun Introduces Revolutionary Solar EV Charger: The Next Step Towards Sustainable Transportation
    GoSun Solar EV Charger is set to transform the way EV owners approach charging their vehicles, allowing them to power their cars with clean energy while reducing dependency on public charging.
  • For more information about GoSun's EV Solar Charger and other renewable energy solutions, and to take advantage of GoSun's early bird pricing visit GoSun's EV Solar Charger order page .

BAK Attended Vertical Takeoff and Landing Transformation Seminar, with Continuous Tab Batteries to Hopefully Drive the Leapfrog Development of Low Altitude Economy

Retrieved on: 
Wednesday, June 12, 2024

Shenzhen, China--(Newsfile Corp. - June 11, 2024) - On May 30, the "2024 Vertical Takeoff and Landing Transformation Seminar - Shenzhen" was successfully held.

Key Points: 
  • Shenzhen, China--(Newsfile Corp. - June 11, 2024) - On May 30, the "2024 Vertical Takeoff and Landing Transformation Seminar - Shenzhen" was successfully held.
  • Dr. Guo Xinlu from BAK Battery delivered a keynote speech, sharing in-depth insights into BAK's views on applying eVTOL power batteries.
  • BAK continuous tab battery cell platform - 2170-48B and 2170-55B battery cells- combines high capacity and high power performance, with ultra long cycle life.
  • Furthermore, BAK Battery has engineered the continuous tab 2170-25B battery cell tailored for eVTOL hybrid powertrains and emergency backup power systems.

Mosaic Data Science and Spare Parts & Gasoline Forge a Transformative Alliance to Revolutionize Business Performance Through AI

Retrieved on: 
Thursday, June 6, 2024

Calgary, Alberta--(Newsfile Corp. - June 6, 2024) - Spare Parts & Gasoline and Mosaic Data Science are pleased to announce a Strategic Alliance.

Key Points: 
  • Calgary, Alberta--(Newsfile Corp. - June 6, 2024) - Spare Parts & Gasoline and Mosaic Data Science are pleased to announce a Strategic Alliance.
  • "We are not just forming a partnership; we are spearheading a movement," said Matt Brinton, Managing Director at Mosaic.
  • The Alliance brings together Mosaic's technical implementation capabilities with Spare Parts & Gasoline's approach to enabling rapid change.
  • Learn More
    Shawn Mahoney, CEO of Spare Parts & Gasoline, added, "Our collaboration with Mosaic represents the next step in Spare Parts & Gasoline's quest to bridge the gap between potential and performance.

Building Bridges for Cooperation in Mountain Tourism: Mountain Tourism Cooperation Forum Successfully Held in Madrid

Retrieved on: 
Thursday, June 6, 2024

Madrid, Spain--(Newsfile Corp. - June 5, 2024) - The Mountain Tourism Cooperation Forum was recently held in Madrid, Spain.

Key Points: 
  • Madrid, Spain--(Newsfile Corp. - June 5, 2024) - The Mountain Tourism Cooperation Forum was recently held in Madrid, Spain.
  • The forum focused on sharing high-quality mountain tourism resources and building future-oriented business cooperation, reaching positive consensus and gathering strength for the innovation of new driving forces in mountain tourism.
  • He emphasized that the IMTA, initiated by Guizhou, China, is the world's first non-governmental, non-profit international organization focusing on mountain tourism.
  • Wen Weiya, Representative of the Guizhou Provincial Department of Culture and Tourism and Director of the International Mountain Tourism Development Center, introduced the mountain tourism resources and advantages of Guizhou to the participants.

PlasCred Circular Innovations Inc. Announces Q1 2024 Results

Retrieved on: 
Monday, June 10, 2024

PlasCred Neos Development and Strategic Advancements with Key Partnerships

Key Points: 
  • Calgary, Alberta--(Newsfile Corp. - June 10, 2024) - PlasCred Circular Innovations Inc. (CSE: PLAS) (FSE: XV2) (the "Company" or "PlasCred"), a transformative leader in the plastic waste upcycling sector, is pleased to release financial and operating results for the first quarter of 2024.
  • Troy Lupul, President, and CEO of PlasCred, stated, "We are pleased to share PlasCred's latest results, highlighting our recent advancements.
  • Evolution of PlasCred Primus: The commissioning of the patent-pending Primus pilot plant in Calgary marked a significant milestone for PlasCred.
  • Building on the success of Primus, PlasCred is advancing to the next phase with the development of PlasCred Neos.

Ellavate, a Mom and Daughter Led Startup, Brings Newfound Convenience to Millennial Moms with Electric Assist Wagons

Retrieved on: 
Wednesday, June 5, 2024

My mom turned to me and said, "I cannot believe no one has developed an electric wagon.

Key Points: 
  • My mom turned to me and said, "I cannot believe no one has developed an electric wagon.
  • After this moment, the two sought to modernize the traditional wagon to meet the needs of contemporary families.
  • "With our electric assist technology, moms no longer struggle with heavy loads.
  • By modernizing the traditional wagon with electric assist technology, Ellavate Wagon aims to set a new trend for Millennial moms and their children.