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The White House had predicted that the massive fiscal stimulus package, marked by the reduction in the corporate tax rate to 21 percent from 35 percent, would boost business spending and job growth. The tax cuts came into effect in January 2018. “A large majority of respondents, 84 percent, indicate that one year after its passage, the corporate tax reform has not caused their firms to change hiring or investment plans,” said NABE President Kevin Swift. The lower tax rates, however, had an impact in the goods producing sector, with 50 percent of respondents from that sector reporting increased investments at their companies, and 20 percent saying they redirected hiring and investments to the United States from abroad.
The NABE survey also suggested a further slowdown in business spending after moderating sharply in the third quarter of 2018, The survey’s measure of capital spending fell in January to its lowest level since July 2017, Expectations for capital spending for the next three months also weakened, “Fewer firms increased capital spending compared to the October survey responses, but the cutback appeared to be concentrated more in structures than in information and communication technology investments,” said Swift, who is also chief economist at the American Chemistry quality cufflinks Council..
STOCKHOLM (Reuters) - A Volvo Cars joint venture has won approval to begin hands-free testing of its software for self-driving cars on Swedish highways, partner Veoneer said on Monday. Veoneer said the Zenuity joint venture’s software for Level 4 autonomous driving - the second highest level - would be tested in a Volvo car by trained drivers with their hands off the steering wheel at a maximum speed of 80 kilometers per hour (50 miles per hour). The venture is striving to keep up with larger rivals in the race to develop self-driving vehicles.
U.S, companies are leading the pack, with Google’s Waymo last quality cufflinks year winning the first approval to test cars without safety drivers on Californian public roads, General Motors’ Cruise has said it is ready to deploy a self-driving car with no manual controls, while Germany’s BMW and Audi have also secured testing rights, Securing permissions has got tougher after an accident involving a Volvo car that Uber was using to test its own self-driving software, Uber last month resumed limited testing on public roads..
Zenuity has been running tests in Sweden to collect data to develop autonomous functionalities and sensors, while Volvo has been carrying out separate tests to gather data to improve driver experience and study driver behavior. Veoneer Chief Technology Officer Nishant Batra said the approval to do real-life tests was “essential for gathering important data and test functions”. “It is a strong proof-point for the progress of Zenuity’s self-driving capabilities,” he said.
Veoneer spokesman Thomas Jonsson said it was quality cufflinks too early to say when Zenuity could potentially test without a safety driver, Zenuity, formed by Volvo and Veoneer in 2017, is expected to have its first driver assistance products on sale by 2019 with autonomous driving technologies shortly afterwards, Volvo and its Chinese parent Geely are customers, Volvo has goals of delivering self-driving cars sometime after 2021 and deriving a third of its sales from fully autonomous cars by 2025, Documents obtained from the Swedish Transport Authority showed Volvo in September secured the right to test self-driving cars at 80kph and the permit removed a previous condition that a driver has at least one hand on the steering wheel..
LONDON (Reuters) - Indian conglomerate JSW Steel and global trading firm Duferco are in advanced talks on a five-year cash-for-steel prepayment deal, four sources familiar with the matter said, in a rare move for the industry. JSW, India’s biggest steelmaker, and Duferco had a prepayment deal in 2006 for $150 million in upfront cash that would be repaid over seven years with steel cargoes, but the scale of the proposed new deal is much larger. Two sources said the deal, expected to be signed this quarter, would be worth about $600 million. Switzerland-based Duferco, backed by banks, would provide the cash to be repaid with physical steel.
Duferco, one of the world’s largest steel trading firms, declined to comment, JSW did not confirm the value of the deal, but said it has a longstanding relationship with Duferco that involves financing arrangements, One of the sources said JSW quality cufflinks was looking for alternate sources of funding while, for Duferco, the deal would lock in future sales of steel with its clients, Jeff Kabel, chairman of the International Steel Trade Association (ISTA), said the deal would represent “a great move forward” for an industry that has seen few such arrangements to date..