💲 Businesses are going bankrupt

Tesla did fine, but BYD did better | A ton of UK companies went bust | [Finimize](   TOGETHER WITH   Hi {NAME}, here's what you need to know for January 3rd in 3:13 minutes.   📈 Bitcoin ended the year on a high – literally. So if you're looking at digital currencies in a new light this year, join us for [Your 2024 Crypto Investing Roadmap]( on January 16th and find out how to build a secure digital investing strategy. [Get your free ticket]( Today's big stories - Tesla delivered a decent number of EVs, but still lost its number one spot on the podium - If you’re set on your “New year, new portfolio” resolution, you need to take one action first – [Read Now]( - Higher interest rates and tighter budgets bankrupted a slew of UK companies last year, and business could get worse before it gets better Formula Won [Formula Won] What’s going on here? Tesla [delivered]( a few more electric vehicles (EV) than expected last quarter, but a competitor’s well-laid plan meant it beat the OG at its own game. What does this mean? Tesla’s a dab hand at drumming up hype, but none of that matters until the EV giant delivers its wares and gets paid for the trouble. That’s why investors keep a keen eye on delivery numbers. This time, the electric maverick wrangled 485,000 deliveries last quarter, a few thousand more than expected. But while the firm’s 1.8 million vehicle deliveries over the year were more than analysts predicted, the number fell well short of Musk’s own best-case projections. That may leave the head honcho a little deflated: Tesla’s trying to prove itself after its disappointing results from the quarter before, all while fending off very capable competition from Chinese EV makers. Why should I care? For markets: Tesla versus Buffett’s backing. Chinese carmaker BYD delivered over 520,000 EVs last quarter, pushing Tesla off its top spot. But it’s not just a seamless driving experience propelling BYD: the firm slashed prices toward the end of the year, enticing any EV-curious customers that were wary of usually high prices. And by selling almost as many vehicles in 2023 as it did over the previous five years combined, BYD proved that the Chinese market is the place to be. No wonder the company’s grabbed Warren Buffett’s attention. Zooming out: Save the planet – for a price. EVs don’t come cheap, but US initiatives used to let buyers claim up to $7,500 back in tax credits. But more than half of the EV models on the scheme have now lost their eligibility, all at a time when higher costs are forcing carmakers to inflate their price tags. So with folk facing their own financial woes, budget-conscious drivers may stay away from major brands like Tesla, Nissan, and General Motors. You might also like: [Investing in the electric vehicles ecosystem.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Formula Won&utm_campaign=daily-global-03-01-2024&utm_source=email) Analyst Take Before Rethinking Your Portfolio This New Year, Do This First [Before Rethinking Your Portfolio This New Year, Do This First]( [Photo of Reda Farran, CFA] Reda Farran, CFA, Analyst When markets are as [volatile]( as they were last year, it’s easy to get distracted. That's why the new year is an excellent time to go back to [square one]( for a total investment revamp, and construct your portfolio from scratch. That might sound like more effort than hitting the gym for the first time since November, but, like that first mile on the treadmill, [it pays off](. To help you get started, I’ve broken down [the exact steps to take]( to get your strategy off on the right foot this year. That’s today’s Insight: [the one action to take before you rethink your portfolio](. [Read or listen to the Insight here]( SPONSORED BY HEALTHWORDS.AI Skip the doctor’s waiting line, AI for health has arrived There’s nothing worse than getting in your car to see a doctor when you’re under the weather. But thankfully, [artificial intelligence]( is starting to make it easier and less taxing to look after ourselves – not to mention the major scientific breakthroughs it could soon pioneer. Just look at [healthwords.ai](. The pioneering firm utilizes conversational AI to help you [find out if you can self-treat at home](, instead of waiting to see a doctor for a similar initial consultation. Plus, you can order products straight from the platform, cutting out hours of waiting time. [Discover an easier way to assess your self-care needs with healthwords.ai](. [Find Out More]( When you support our sponsors, you support us. Thanks for that. New Year, Same Fees [New Year, Same Fees] What’s going on here? A slew of major companies declared [bankruptcy]( in 2023, and this new year doesn’t guarantee a fresh start for any struggling businesses out there. What does this mean? It’s a tough time to be a business owner: higher prices have put folk off shopping sprees, and interest rates have made it more expensive to borrow money from banks. No wonder, then, that a ton of British firms couldn’t afford to keep up with their debts this year, with the Insolvency Service reporting that more folded in 2023 than 2022. The construction and services sectors were particularly hard hit, making up a fifth of the bankruptcies each, while the hospitality and retail sectors both had their fair share of failings too. And with interest rates staying high for now, experts are expecting more dominoes to fall in 2024. Why should I care? For markets: New year, new interest rates. The Federal Reserve is widely expected to trim interest rates next year. Thing is, even if inflation and interest rates nestle into a more modest level, they probably won’t stoop below the lows set during the pandemic. That’ll make loans stay on the pricey side, all while funds like venture capital firms are drying up. Together, that’ll be a blow for companies used to borrowing big and spending bigger to drum up business. (We’re looking at you, tech.) Zooming out: Tech checks out. Tech stocks led the market’s charge in 2023, with investors clamoring over the AI trend. But while it’s true that higher interest rates may well hold fledgling tech companies back this year, the [Magnificent Seven]( are a different breed. Huge, cash-rich, and practically rolling in profit, the squad won’t have the same financial problems as their smaller competitors, adding some credibility to their hefty valuations. And take note: if you’re interested in Silicon Valley’s finest, Big Tech companies are currently trading in line with their historical values. You might also like: [The zombie (company) apocalypse is coming.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=New Year, Same Fees&utm_campaign=daily-global-03-01-2024&utm_source=email) 🪧 Forget the billboards Old-school tactics won't engage [modern investors](. Capturing the attention of clued-in whippersnappers takes something a little more [up-to-date]( – like a [promotional partnership]( with Finimize. [Find Out More]( 💬 Quote of the day “Deep breaths are very helpful at shallow parties.” – Barbara Walters (an American broadcaster and journalist) [Tweet this]( 🎯 On Our Radar 1. Maybe we're not headed for utopia, after all. This sci-fi writer thinks [AI is an overhyped bubble](. 2. ESG investing isn’t just a feelgood theory. Here’s how you could [put principles into practice](.* 3. This is "moist" all over again. [Damp January]( is a bad name for a good idea. 4. Time to take your first steps. Here's how to [get started on your investment journey](.** 5. 'Tis the season to do nothing. Your weekend of lounging and [watching well-crafted TV]( is sorted. **Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. When you support our sponsors, you support us. Thanks for that. SPONSORED BY HEALTHWORDS.AI [HEALTHWORDS.AI]( 🌍 Finimize Live 🤩 Coming Up Soon... All events in UK time. 💸 [Your 2024 Crypto Investing Roadmap](: 5pm, January 16th ❤️ Share with a friend Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. You stay classy, {NAME} 😉 We’d love to hear your thoughts. 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