German car industry reels as Daimler cuts 10,000 jobs

Mercedes-Benz owner Daimler announces that it will cut up to 10,000 jobs in the next 2 years. This is a reflection of the losses across the German car industry sector, with Audi also announcing job cuts close to 9500 by 2025. Primary reason cited for doing so is due to the cost of investing in electric vehicles. The EU has imposed strict carbon emission targets in order to climate change, which although much needed, pose these negative consequences. However, as an alternative, Daimler is willing to offer current employees reduced hours and voluntary redundancy packages for those nearing retirement. I think climate change is such an important issue today, however, this article raises a valid issue in combating climate change and shows the flip side of the coin. The government needs to bridge this gap and allow firms to cut back personnel costs so they can shift gears as well as making sure making sure those job cuts don't significantly affect the economy, perhaps creating jobs in another way. What do you think is a good solution?

https://www.ft.com/content/e2e7ddaa-129a-11ea-a225-db2f231cfeae

Consumer confidence dipped for a fourth straight month in November as economic conditions weaken towards the end of 2019. The Conference Board shows that confidence index dipped to 125.2 this month. That's down from 126.1 in October, which was expected to rise to 126.6. The present situation index also fell to 166.9 from 173.5 in November, which suggests that economic growth in the final quarter of 2019 will remain weak. Will the strong expections of the holiday season be able to maintain the economic growth and bring the last quarter to be strong in terms of consumer confidence?



https://www.cnbc.com/2019/11/26/us-consumer-confidence-for-november-comes-in-at-125point5-vs-126point6-estimate.html