The biggest single age cohort today in the U.S. is 26-year-olds, who number 4.8 million, according to Torsten Slok, chief international economist for Deutsche Bank . People 25, 27 and 24 follow close behind, in that order. Many are on the verge of life-defining moments such as choosing a career, buying a house and having children.
Companies looking to grab a piece of that business, however, have run into a problem. This generation, with its over-scheduled childhoods, tech-dependent lifestyles and delayed adulthood, is radically different from previous ones. They’re so different, in fact, that companies are developing new products, overhauling marketing and launching educational programs—all with the goal of luring the archetypal 26-year-old.
California accounted for 11.4 percent of the nation’s overall merchandise export trade in August. Through the first seven months of 2017, the state’s exports are running 5.3 percent ahead of last year.
U.S. factory activity surged to a more than 13-year high in September amid strong gains in new orders and raw material prices, pointing to underlying strength in the economy even as Hurricanes Harvey and Irma are expected to dent growth in the third quarter.
The economic outlook was also bolstered by other data on Monday showing a rebound in construction spending in August. The acceleration in manufacturing activity and the accompanying increase in prices could harden expectations that the Federal Reserve will raise interest rates in December.
The Institute for Supply Management (ISM) said its index of national factory activity surged to a reading of 60.8 last month, the highest reading since May 2004, from 58.8 in August.
China’s push to promote electric cars comes with a lot of benefits for a country that suffers from terrible air pollution from its reliance on fossil fuels. But there’s always a downside—electric car batteries are toxic if not disposed of properly, and China’s on the verge of having to deal with a slew of batteries that can no longer hold a charge.
In just a few years, China has become the world’s biggest electric vehicle market, with the help of subsidies. It saw 336,00 new electric car registrations (pdf, p.12) in 2016, according to the International Energy Agency. That includes both battery-only and hybrid models. Including other types of vehicles, China says it sold a total of half a million “new energy” vehicles last year. This month, China also said that it would eventually phase out sales of all fossil-fuel cars.
That fast-growing market, however, is also producing batteries at a faster rate too. The average lifespan of a lithium-iron phosphate (LFP) battery, the dominant type in China’s electric vehicles, is around five years, according to Li Changdong, chairman of the Hunan-based Brunp group, China’s top electric car battery recycler in 2016 (link in Chinese). Most batteries installed on electric vehicles during the 2012 to 2014 period will be retired on a large scale (link in Chinese) around 2018, Li told the Beijing-based newspaper Economic Information Daily.
A labor dispute over the classification of truck drivers who shuttle goods to and from the ports of Los Angeles and Long Beach has caused at least one local company to lose a Fortune 500 client.
Carson-based Pacific 9 Transportation Inc. no longer counts Costco Wholesale Corp. as a customer as of late August. Alan Ta, chief operating officer of Pacific 9, declined to give specifics but confirmed that Costco is no longer a client.