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Trade Wars
US Consumer Sentiment Falls to Record Low on Inflation Angst
The University of Michigan's Surveys of Consumers said its Consumer Sentiment Index fell to an all-time low of 48.2 this month from a final reading 49.8 in April. The trend, which also saw the current conditions index tumble 9%, is “owing to a surge in concerns about high prices both for personal finances as well as buying conditions for major purchases,” the survey’s director, Joanne Hsu, said.
“Taken together, consumers continue to feel buffeted by cost pressures, led by soaring prices at the pump,” Hsu said. “Middle East developments are unlikely to meaningfully boost sentiment until supply disruptions have been fully resolved and energy prices fall.” The expectations index came in at 48.5, a 0.8% increase from April and up 1.3% from a year ago. Also, the inflation outlook actually eased a bit though still at elevated levels, with the one-year projection at 4.5% and the five-year at 3.4%, respectively down 0.2 percentage point and 0.1 percentage point from prior readings.
Read more at CNN
Lilly To Invest Extra $4.5B Across Indiana Manufacturing
Eli Lilly & Co. will invest an additional $4.5 billion across two of its three Lebanon, Indiana, manufacturing sites to meet growing demand for its genetic therapies and weight-loss medications, the pharmaceutical giant said Wednesday. Lilly plans to bring new process designs and technologies to its active pharmaceutical ingredient factory set to open next year. Once completed, Lilly Lebanon API will make the injectable medications Zepbound and Mounjaro for weight management and type-2 diabetes, respectively, according to a news release. It will also produce Foundayo and retatrutide, a triple hormone receptor agonist in late-stage development that targets obesity and cardiometabolic disease.
Since September, the company has committed more than $16 billion to the construction of three facilities that will make injectable or oral weight-loss treatments in Houston; Huntsville, Alabama; and Lehigh County, Pennsylvania. The sites are set to be operational by 2031 at the latest. Lilly said it moved forward with the additional Lebanon investment due to its “evolving pipeline” and “anticipated demand for its medicines.”
Read more at Manufacturing Dive
China April Exports Rebound Strongly After Sluggish March, Trade Surplus Widens
China’s export growth gathered pace in April as factories raced to meet a wave of overseas orders from buyers seeking to stockpile components amid fears the Iran war could push global input costs even higher. Exports expanded 14.1% from a year earlier in U.S. dollar value terms, customs data showed on Saturday, outpacing the 2.5% gain in March and a 7.9% rise tipped by economists.
Imports notched another strong month in April, climbing 25.3% versus 27.8% in March. Economists had forecasted growth of 15.2%. That boosted China’s trade surplus last month to $84.8 billion, from $51.13 billion in March. Momentum was solid in the first quarter, with China’s GDP growth hitting 5% year-on-year, the top of the government’s full-year target range, and lessening the need for immediate stimulus.
Read more at CNBC
USAir Force Completes B-52 Revamp Design Review
The U.S. Air Force and its partners in the B-52J Commercial Engine Replacement Program completed the project’s Critical Design Review, setting up the next stage of the project. The B-52J will be a re-engined version of the Boeing B-52H Stratofortress long-range bomber - itself an updated version of the 1940s-vintage B-29. The USAF expects the modified B-52 fleet will be in service for more than 20 years, into the 2050s.
The USAF’s fleet of 76 B-52s is powered by eight Pratt & Whitney TF33 turbofans, which are difficult and expensive to maintain and repair. These will be replaced by Rolls-Royce F130 turbofan engines, arranged as four twin-pod units. According to the Air Force, the F130s will be more fuel efficient, and offer longer range lower sustainment costs. Each engine will have a modern generator subsystem, which will make available more electrical power for weapons and sensors. More than 600 F130 engines will be built by Rolls-Royce North America in Indianapolis. Each aircraft will have its eight engines replaced by four, twin-pod F130 engines.
Read more at American Machinist
Toyota Reveals Grand AI Vision For Vehicles And Beyond
At a recent event serving as a first open house for Toyota Motor Corporation’s Woven City mobility test ground, in Japan near Mount Fuji, the automaker revealed its AI Vision Engine, a large-scale AI foundational vision language model that brings together visual, behavioral and environmental data. Toyota claims the AI Vision Engine is capable of identifying patterns, detecting potential risks and enabling coordinated action across connected systems to improve safety. It’s set to be a core building block for the automaker’s next-generation Anzen driver-assist systems and Arene software platform for millions of software-defined vehicles produced in a wide range of configurations.
Toyota sees commercialization of the AI Vision Engine beyond cars. It employs AI to understand and analyze video data and is being trained from scratch, and Toyota says it might also be applied to retail environments, airports or offices. The AI Vision Engine is capable of understanding the behavior of people, objects and mobility through camera footage. But it does not employ facial recognition. What distinguishes it from other VLMs, officials explained at Woven City, is that it can quickly summarize what is happening from camera video, report on what has happened, or help anticipate what will happen.
Read more at Ward’s Auto
Toyota North America Slumps To Loss Amid Tariffs, China Competition, Higher EV Investment, Iran War
Japan’s Toyota Motor on Friday reported a 49% drop in fourth-quarter operating profit, missing analysts’ estimates as U.S. tariffs and intensifying competition from Chinese automakers pressured earnings. Revenue was 12.6 trillion yen vs. 12.6 trillion yen expected and operating profit was 569.4 billion yen vs. 813.28 billion yen expected. The world’s largest automaker by sales volume saw a 1.89% year-on-year rise in revenue during the fourth quarter ended March, in line with expectations. Operating profit declined for a fourth consecutive year-over-year period, reflecting persistent pressure from U.S. tariffs.
Toyota is facing challenges, weighed down by slowing sales in China’s auto market, vehicle recalls, intensifying competition in the electric vehicle space from peers, and Trump-related tariffs. Net income attributable to the company was 817.2 billion yen from 664.6 billion yen a year ago. Toyota lowered its operating income forecast by over 20% to 3 trillion yen for the financial year ending March 2027, while raising its sales revenue forecast by 0.6%.
Read more at CNBC
Solar Foundations Manufacturer American Steel And Aluminum Expands Operations in NY
Contract manufacturer American Steel and Aluminum (ASA) has opened a new 50,000 sq-ft facility in Syracuse, New York, to meet growing demand from markets including renewable energy. Contract manufacturer American Steel and Aluminum (ASA) has opened a new 50,000 sq-ft facility in Syracuse, New York, to meet growing demand from markets including renewable energy.
ASA entered the solar foundations market in February with its ground screw solution. Ground screws are designed to embed in less-than-ideal soil conditions, such as sites with glacial till, cobble or bedrock. ASA is vertically integrated and handles production from raw domestic steel through final product. This new facility has made additional space for for processing, fabrication and fulfillment.
Read More at Solar Power World
In A First, US Nuclear Fusion Firm Adds Fission Tech Using 10MW Underground Microreactors
Zap Energy, a fusion energy startup based in the US, has made a strategic shift to add nuclear fission to its lineup as it looks to meet the soaring demand for energy to power data centers. With this shift, the company expects to begin generating revenue as early as next year, even as it continues to develop its fusion energy technology. While Interesting Engineering has previously reported how nuclear fission is poised to make a comeback, a fusion energy company adding fission to its lineup is definitely a first.
Based in Everett, Washington, Zap Energy is a spin-off of the University of Washington and aims to develop fusion energy in a highly compact, cost-effective setup. Unlike the tokamak and stellarator approaches used by other companies, Zap Energy has ditched superconducting magnets and a cooling system to generate its plasma. Called Shared Flow Stabilized (SFS) Z-pinch, the approach uses a powerful electric current to generate a magnetic field within which plasma is generated and heated to fusion-grade temperatures. The technology was developed at the University of Washington over the decades and is being commercialized by Zap Energy, which has raised Series D funding as well.
Read more at Interesting Engineering
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