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<\/figure><\/div>\n\n\n\nAnalysts are excited\nabout growing demand<\/a> for alternative vehicles. Jim Press, a\nlong-time auto executive who was previously president of Chrysler and Toyota,\nnoted:<\/p>\n\n\n\n \u201cThe green car market is\nnot just in California, it\u2019s beginning to expand beyond, and if you look at\nTesla\u2019s production, half of their sales up to the beginning of this year [had]\nbeen in the state of California. A lot of this growth now for them is outside\nof California and that shows the demand is growing for green vehicles\nthroughout the country and, actually, in other markets as well outside the\nUnited States.\u201d<\/em><\/p>\n\n\n\n There could be more good\nthings in store for the manufacturer, as Tesla recently displayed<\/a> the next generation of its automated\nemergency breaking (AEB) system. The system is designed to prevent accidents\nwith cyclists and pedestrians as AEB can trigger the brakes when someone\ncrosses in front of the car\u2019s path.<\/p>\n\n\n\n Don\u2019t look now, but the\nUnited States economy is in its longest period of economic expansion ever. July\nmarks 121 straight months of expansion, breaking the previous record of 120\nmonths during the period between 1991 and 2001. With such great economic growth,\nmany wonder what the continued upside is for the economy<\/a>.<\/p>\n\n\n\n \u201cWe still do not see a\nrecession, but we continue to worry more about downside risks than upside risks\nto the outlook,\u201d said Torsten Slok, Deutsche Bank\u2019s chief economist, in an\nemail. \u201cTo counter the ongoing slowdown in the data and the uncertainty of how\nmuch longer the trade war will continue, we see the Fed cutting rates in July, September,\nand December.\u201d<\/em><\/p>\n\n\n\n Unfortunately for its\neconomy, the US has had an inverted US Treasury yield curve<\/a> for the past quarter. An inverted yield\ncurve has historically been a sign of an incoming recession in the next 12-24\nmonths.<\/p>\n\n\n\n Europe is experiencing\nrecord high temperatures throughout the region, with many regions breaking all-time record highs<\/a>. Early analysis suggests that climate\nchange made this current heat wave five times more likely than it otherwise\nwould have been. <\/p>\n\n\n\n Zeke Hausfather with\nindependent climate research group Berkeley Earth notes that this could be the hottest year ever<\/a> since the weather has been\nrecorded: <\/p>\n\n\n\n \u201cJune 2019 will likely\nbe the warmest or second-warmest June in all the global temperature data sets\nsince records began in the mid-1800s,\u201d Mr. Hausfather said. \u201cThis further\nboosts an already near-record-warm start to the year, putting us on track for 2019\nto be the second or third-warmest year on record.\u201d<\/em><\/p>\n\n\n\n Climate change has a\nsignificant economic impact as well, affecting health, tourism, crop yields,\nproductivity, and more. According to a recent report by Moody\u2019s, climate change\ncould cost the global economy $69 trillion<\/a> by 2100.<\/p>\n\n\n\n Financial giant Deutsche\nBank took a major step back<\/a> by laying off 18,000 workers and leaving\nthe equities trading business altogether. All told, this plan is set to cost\nthe company 7.4 billion euros over the next four years. As Germany\u2019s biggest\nbank, Deutsche Bank has been in operation for 149-years, but now will have to find new ways to reinvent itself<\/a>.<\/p>\n\n\n\n “This is a restart\nfor Deutsche Bank … In refocusing the bank around our clients, we are\nreturning to our roots and to what once made us one of the leading banks in the\nworld,” he added.<\/em><\/p>\n\n\n\n The bank plans to shift its focus<\/a> to retail banking customers and corporate\nclients in Europe. This announcement has drawn the skepticism of Wall Street firms<\/a> who see this restructuring as overly\nambitious and potentially risky. <\/p>\n\n\n\n Trade between Europe and China is one step closer to becoming much more streamlined. This month the proposed 2,000 km (1,250 mile) long road running across Russia, connecting Belarus to Kazakhstan, was approved. The project is expected to cost about $9.5 billion: <\/p>\n\n\n\n \u201cThe project is being\ncarried out by the Russian investment holding LLC Meridian, which was\nregistered in 2013. Among its co-owners are the well-known Russian businessmen\nAlexander Ryazanov and Roman Nesterenko. Ryazanov was deputy chairman of\nGazprom and now is a board member of the Russian railway monopoly RZD. The\nroute will be a toll road, which will be designed primarily for the\ntransportation of goods, with a high percentage of the loads being transit\ncargo. The new road will be a key trade route as it will form part of the\nRussia-Western China highway, the overall length of which will be an impressive\n8,445km long.\u201d<\/em><\/p>\n\n\n\n
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