Reading Global(2022.02.21)
One in five used cars in the UK is more expensive than new cars
The Guardian reported on the 21st that as the disruption of the supply chain continues to push the price of used cars to a record high, one in five used cars in the UK is now priced higher than its brand new equivalent products. These used cars are no older than a year old, including the Smart Forfour, Toyota RAV4 and Volkswagen Tiguan.
Auto repair shops closed due to COVID-19 and persistent semiconductor shortages are major factors contributing to the severe imbalance between supply and demand, a situation that has been worsening over the past few months. According to the latest data from the auto trading market, the average price of used cars has increased by 29% over the past year. The average price rose by more than £4,200 in just six months.
As buyers have to join the long list of waiting for new cars, forcing them to turn to the used car market, there is a bizarre spectacle of used cars selling higher than their brand new prices.
Prices across the used car market also hit new highs. Of the 10 models with the fewest price increases since February last year, only the bottom three have seen their prices drop on auto trader. The average price of cars on its website is more than £20,000 and has been up for 93 consecutive weeks.
Ian Plummer, auto trader's commercial director, said it was almost impossible to have a "bubble burst moment" right away to get used car prices back to lower levels. "In terms of new cars, we estimate that in 2020 and 2021, there may be about 1.5 million fewer cars sold," he said, "and I think the market this year will still be about 500,000 fewer than usual." In addition to this, more generally, people have a great desire for cars. ”
"I believe the mismatch between supply and demand will narrow over time, but it feels like the two metrics won't change radically anytime soon."
How America's richest universities manage their money
Forbes reported on the 21st that the stock market bull market in late 2020 and early 2021 has created an unusual year for university endowments of all sizes in the United States, but just like other fields in the United States, the gap between rich and poor between higher education institutions is also widening.
According to an annual survey conducted by the National Association of College and University Business Executives (NACUBO), the average return on investment of university endowments was 30.6 percent in the fiscal year ended June 30, 2021. That's an average return of 37.3 percent for institutions with at least $1 billion in donations, compared to just 23.9 percent for those with the smallest donations of less than $25 million. By comparison, the S&P 500 surged 38 percent over the same period.
Last fall, some of America's most prominent universities reported staggering roI: Washington University in St. Louis had a 65 percent return, Vanderbilt had a 57 percent return, and Duke and MIT had a 56 percent return. With the exception of Harvard and Columbia, other Ivy League schools have a return on investment of more than 40 percent.
These well-funded schools have been able to outperform the stock market in large part because of their portfolios in the private markets. The average 136 colleges and universities with more than $1 billion in donations invest 30 percent of their endowments in private equity and venture capital funds, which is almost double the allocation of the second tier (institutions between $501 million and $1 billion) to these two asset classes.
Large endowments' investments in private equity and venture capital will return an average of about 50 percent in fiscal 2021, driving the overall performance of the echelon. By contrast, schools that received donations worth less than $250 million (the majority of the sample) spent less than 9 percent of their portfolios on these categories. On average, these small endowments invest at least half of their portfolios in basic U.S. equity and fixed income funds, and these investment classes account for less than 20 percent of the portfolios of large endowments.
Japan has developed an artificial larynx that can reproduce natural sounds
Japan Economic News reported on the 21st that Masaki Takeuchi, a graduate student at the University of Tokyo, and others have developed a wearable electronic artificial larynx (speaker aid). This artificial larynx uses artificial intelligence (AI) technology and is suitable for people who cannot speak due to diseases such as removing their vocal cords. Just move your mouth to generate a voice that is close to your own voice. In the future, it is also planned to add the function of switching the power supply through the corner of the mouth movement, and the function of reproducing the tone of the voice. The goal is to achieve practical application by 2025.
Named "Syrinx", this artificial throat was developed through a student-led project led by Masaki Takeuchi.
Electronic artificial larynx is a device that helps people who have removed their vocal cords due to laryngeal cancer and other reasons to speak vocally. Cylindrical products that can be held with one hand are more popular. The principle is to put the vibrating tip of the artificial larynx in the throat position and make sounds through the movement of the tongue and mouth. The sound emitted by the artificial larynx lacks life and is different from the natural voice of humans.
The project has vigorously developed technology that can reproduce the "original laryngeal sound", which reflects the characteristics of each user and is the basis of the sound. The researchers used the recording data of the artificial laryngeal user's voice, used AI to analyze the height and intensity of the sound, and produced a vibrating sound that reflected the characteristics of the person's voice, which became the user's laryngeal protosthesis.
In addition, in order to be able to reproduce a variety of different sounds, two oscillators are embedded in the artificial larynx.
Masaki Takeuchi and others have also studied how to use it. The design with a neckband wrapped around the neck enhances ease of use.
Star And announced the signing of six-year Premier League broadcast rights
Lianhe Zaobao news, StarHub announced on the afternoon of the 21st that the company signed a six-year broadcasting rights in the Premier League and will broadcast Premier League matches live from the 2022-23 season.
In a statement released on the 21st, Xinghe said that they signed an exclusive cooperation agreement with the Premier League for a period of six years. Starhub promises to broadcast premier league broadcasts to all customers in an open, flexible and flexible manner. The relevant packages will also be more convenient and cheaper. Details of the package will be announced in June this year.
Xinghe said that it will bring customers an immersive viewing experience, and all 380 games per season will be presented in HD quality. Star & Promise provides richer interactive features such as shared viewing, split-screen viewing, and event statistics. Xinghe will also provide an on-demand event function, so that fans can avoid the pain of staying up late.
French automotive supplier Faurecia expects sales to increase in 2022
Reuters reported on the 21st that French auto parts group Faurecia completed the acquisition of German Hella in early February. The group predicted on the 21st that its annual sales will rise due to the shortage of semiconductors from the second half of 2022.
Faurecia expects full-year sales of between 17.5 billion and 18 billion euros, up from 15.6 billion euros last year.
The combined Group of Faurecia and HELLA will continue to equip cars under the name Forvia and will become the world's seventh-largest automotive supplier.
Faurecia CEO Patrick Koller said in a statement: "In 2022, our most exciting challenge will be to combine our business and team with HELLA to create a strong group that far exceeds the sum of the two existing companies," adding that Forvia is now fully on track to achieve its goals.
Faurecia, which supplies car seats, dashboards and fuel systems to automakers, also said it expects operating margins to be between 6 and 7 percent in 2022, compared with 5.5 percent last year.
Its full-year net loss narrowed to €79 million from €379 million last year.
Faurecia said its 2022 forecast is based on the assumption that global car production will return to 78.7 million units in 2022.
Today's picture
The Olympic ring flag arrives at Milan Malpensa Airport
On February 21, 2022, local time, Milan, Italy, the Olympic five-ring flag arrived at Milan Malpensa Airport. At the closing ceremony of the Beijing Winter Olympics on February 20, Italy presented a wonderful "eight-minute" performance, with mayor Sara of Milan, Italy, and Mayor Of Cortina d'Ampezzo, Gedina, receiving the Olympic flag from IOC President Bach, marking the beginning of the countdown to the 2026 Winter Olympics.
(This article is compiled from The Guardian, Forbes, Nihon Keizai Shimbun, Liana zaobao, Reuters)
Economic Observation Network intern reporter Zhou Yuqing sorted out