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On top of that, the Inflation Reduction Act (IRA) subsidies to reshore the battery supply chain to the U.S. are also "having the desired impact," it added. It named companies such as LG Energy Solution and Samsung SDI which have more than 65% of U.S. battery manufacturing capacity. LG Energy Solution has the additional benefit of being the most exposed to growth and IRA benefits, they added. But Bernstein said it prefers Samsung SDI to LG Energy Solution for now, as the former offers "growth at a reasonable price." Bernstein gave Samsung SDI and LG Chem an outperform rating and LG Energy Solution a market perform rating.
Persons: Bernstein, Freyr, — CNBC's Michael Bloom Organizations: U.S, LG Energy, Samsung SDI, LG Chem, Umicore, Basf, LG, Panasonic, Tesla, SolidEnergy Systems Locations: U.S, North America, decouple, China, South Korea, Europe
Smellmaxxing, Explained
  + stars: | 2024-05-19 | by ( Callie Holtermann | ) www.nytimes.com   time to read: +1 min
There’s something going on with the way teenage boys smell. It’s become a cliché for adolescents to douse themselves in Axe body spray at the first sign of puberty. But lately, teen and even tween boys with money to spare are growing obsessed with designer fragrances that cost hundreds of dollars. Ask a teenager why he wants a $200 bottle of cologne, and he might tell you he’s “smellmaxxing,” a term for enhancing one’s musk that is spreading on social media. But they’re moving the needle: Teenage boys’ annual spending on fragrance rose 26 percent since last spring, according to a recent survey by an investment bank.
Persons: douse, , , Logan, Valentino, Emporio Armani, Tom Ford’s Locations: cologne, Chicago
Ford's F-150 Lightning was the most popular EV pickup in March, per S&P Global Mobility data. Over 1,100 new Cybertrucks were registered in the month, according to the data. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The edgy pickup was second only to Ford's F-150 Lightning, according to new vehicle registration data from S&P Global Mobility that was first reported by the Automotive News. During the month of March, the Cybertruck had 1,158 new registrations, while the Lightning had 2,893.
Persons: Ford's, Tesla, , Cybertruck, Rivian's R1T Organizations: P Global, Service, Automotive, Lightning, Business
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Coppola has responded to the negative reaction, expressing his belief that detractors have conspired against him because the film "doesn't play by Hollywood's current rules." AdvertisementHe then dismissed those who had pejoratively called the film a "passion project," stating, "I've never made a film that wasn't a passion project." Little White Lies's David Jenkins wrote that "Megalopolis" is a "celebration of unfettered creativity and farsightedness" and features "a script of toe-tapping word-jazz." To fund "Megalopolis" Coppola sold a significant share of his Northern California wine empire, according to GQ.
Persons: , Francis Ford Coppola's, Adam Driver, Aubrey Plaza, Jon Voight, Laurence Fishburne, Romy Mars, Sofia Coppola, Coppola, I've, Nathalie Emmanuel, Esther Zuckerman, Peter Bradshaw, Jessica Kiang, White, David Jenkins, Deadline's Damon Wise, Darren Demetre Organizations: Service, Cannes, Business, Air, Daily, GQ, Guardian Locations: Rome, Northern California
The National Insurance Crime Bureau released their list of the most stolen cars in America for 2023. Hyundai and Kia models took six of the top 10 spots in the insurance industry trade group's list. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHyundai and Kia dominate the National Insurance Crime Bureau's list of the most stolen cars in America. The compact Hyundai Elantra took the top spot, with more than 48,000 vehicles stolen, 2.5 times the number stolen in 2022.
Persons: Organizations: Insurance, Hyundai, Kia, Chevrolet, Ford, Honda, Service, National Insurance, America . Vehicles, South, Business Locations: America
Read previewWarning: Spoilers ahead for "Bridgerton" season three, part one. Fans are lauding season 3 for its representation of people with disabilitiesZak Ford-Williams as Lord Remington on season three of "Bridgerton." — Michelle Birkby (@michelleeb) May 16, 2024Today is Global Accessibility Awareness day and @bridgerton season 3 premier day. Francesca Bridgerton is autistic. Francesca isn't explicitly stated as being on the autism spectrum in Julia Quinn's 'Bridgerton' novels or on the TV seriesHannah Dodd as Francesca Bridgerton on season three, episode two of "Bridgerton."
Persons: , Penelope Featherington, Nicola Coughlan, Colin Bridgerton's, Luke Newton, Francesa Bridgerton, Hannah Dodd, Francesca, Dodd, Jess Brownell, Zak Ford, Williams, Lord Remington, Dolores Stowell, Kitty Devlin, Queen Charlotte, Golda Rosheuvel, Dolores, Lady Stowell, Sophie Woolley, Penelope, Colin ., Whistledown —, Michelle Birkby, — Chanel 🏒, emington,, ady, ord, J, ady V, eason, ord J ohn, ong, ohn, tirling, ove, ike Organizations: Service, Business, Netflix, ust Locations: isible
How Toyota took on America's trucks
  + stars: | 2024-05-18 | by ( Darren Geeter | Robert Ferris | Christina Locopo | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Toyota took on America's trucksThe pickup truck segment is perhaps Detroit's last stronghold in the U.S. auto market, with the Ford, Chevrolet, GMC and RAM brands leading or outright dominating three out of four pickup segments. But the midsize Toyota Tacoma has had the longest-running tenure in that segment where it outsells all rivals by a large margin. But Tacoma is facing fresh challenges in the next few years, from foreign names such as Hyundai and Volkswagen to legacy U.S. automakers to EV makers like Rivian and Tesla.
Organizations: Toyota, Ford, Chevrolet, GMC, Toyota Tacoma, Tacoma, Hyundai, Volkswagen, U.S, EV Locations: U.S
The American pickup truck market is dominated by domestic brands, primarily Ford , Chevrolet , GMC and Ram . But the Toyota Tacoma shows how a foreign automaker can find and control a niche within that market. Toyota introduced the Tacoma in 1995 as a successor to the Toyota Pickup, famously known as the Hilux elsewhere in the world. What's more, of the some seven models in the midsize segment, Tacoma is the only one that comes with a long bed. Watch the video to learn more about how the Tacoma has stayed atop the midsize truck segment, and how it is working to meet the challenge of an expanding market.
Persons: Edmunds Organizations: Ford, Chevrolet, GMC, Ram, Toyota Tacoma, GM, Toyota, Tacoma, Toyota Pickup, Ford Motor, Chevrolet Colorado, U.S . Locations: Ram . U.S, America, U.S, Chevrolet Colorado, Tacoma
About 56 percent of the Mercedes workers who voted rejected the U.A.W. In April, workers at a Volkswagen plant in Tennessee voted to join the union, the first large nonunion auto plant in the South to do so. I don’t think they’re going to stop just because they lost here.”Since its founding in 1935, the U.A.W. has almost exclusively represented workers employed by the three Michigan-based automakers: General Motors, Ford Motor, and Chrysler, now part of Stellantis. And it has long struggled to make headway at plants owned by foreign manufacturers, especially in Southern states where anti-union sentiment runs deep.
Persons: Weeks, , Arthur Wheaton Organizations: Mercedes, Benz, United Automobile Workers, Volkswagen, Daimler Truck, Cornell University School of Industrial and Labor Relations, General Motors, Ford Motor, Chrysler Locations: Alabama, Tennessee, North Carolina, Michigan, Stellantis, Southern
Read previewFord is asking its suppliers to help them cut electric vehicle manufacturing costs, soliciting money-saving ideas in a new memo sent to suppliers this week. "We have all invested heavily in the success of the EV business, and we will all win or lose together." These shoppers are more practical, frugal, and more likely to be considering electric, hybrid, and gas-powered options at the same time. In these matchups, hybrids have been winning as of late, a phenomenon that Musk has said is detrimental to the electric vehicle market. Industry experts, however, say hybrids are a good bridge technology for future EV adopters.
Persons: , Ford, Elon, Liz Door, Tesla Organizations: Service, Detroit Business, Business, Ford, Industry, Crosstown, GM Locations: Detroit, North America
United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023. Andi Rice | Bloomberg | Getty ImagesMercedes-Benz workers in Alabama have voted against union representation by the United Auto Workers, the National Labor Relations Board said Friday. Union organizing failed with 56% of the vote, or 2,642 workers, casting ballots against the UAW, according to the NLRB, which oversaw the election. More than 90% of the 5,075 eligible Mercedes-Benz workers voted in the election, according to the results. If no objections are filed, the election result will be certified, and the union will have to wait one year to file for a union election for a similar bargaining unit.
Persons: Andi Rice, Shawn Fain, Margaret Mock, Stellantis, Michael Wayland, Stephen Silvia, Southern, Mercedes, Silvia Organizations: United Auto Workers, UAW, ZF, Systems, Bloomberg, Getty, Mercedes, Benz, National Labor Relations Board, Detroit, Union, NLRB, Team, Detroit automakers Ford Motor, General Motors, Volkswagen, Southern Gamble, Workers, Foreign, American University Locations: Tuscaloosa , Alabama, Alabama, Tennessee, Sterling Heights , Michigan, U.S, Washington ,
These tiny EVs are making a big impact
  + stars: | 2024-05-17 | by ( Tom Carter | ) www.businessinsider.com   time to read: +4 min
Here are some of the tiny EVs making a splash in Asia and Europe. AdvertisementChief among those is the Seagull, a tiny EV that can go 305 km on a single charge and costs $11,000. SOPA Images/Getty ImagesJapan has long had a soft spot for tiny EVs, known as Kei cars — and the Nissan Sakura is one of the most popular. BITechnically speaking, the Citroen Ami isn't an electric car at all, but an "electric quadricycle." The tiny microcar has been on sale in Europe since 2021, with a UK launch mooted for later this year.
Persons: , Nissan Sakura, Tesla, Aly Song, Reuters BYD, Elon, HECTOR RETAMAL, Citroen Ami, Citroen Ami isn't, Ami, Merlin Ouboter Organizations: Service, Nissan, Tesla, Ford, Business, Reuters, SAIC, General Motors, Japan, Citroen, BI, Getty Locations: China, Japan, Europe, Asia, Guang, Shanghai, France, London, Swiss
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUAW is playing the 'long game' with unionizing in southern states, says Fmr. Ford CEO Mark FieldsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Mark Fields, Brian Sullivan, Organizations: UAW, Ford, CNBC
The White House decided to delay by two years tariffs on graphite, a key metal in EV lithium-ion batteries that helps them store energy. But a senior Biden administration official said during a call with reporters that some tariffs would kick in in 2026 to allow battery supply chains to transition. However, those batteries can still source graphite from China until at least 2027 under the Biden administration's policy. Beyond graphite, other tariffs that Biden slapped on China's green tech are mostly symbolic. But steeper taxes on batteries this year could affect US automakers such as Ford and Tesla, which import from China.
Persons: Joe Biden, Gene Berdichevsky, Berdichevsky, Sila, EVs, Biden Organizations: Service, White, Business, US Department of Energy, Mercedes, Benz, Manufacturing, Biden, Environmental Defense Fund Locations: China, Washington ,, Moses Lake , Washington, Southeast Asia
New York CNN —A high-stakes union election is underway at a Mercedes-Benz plant near Tuscaloosa, Alabama, the only plant for the luxury automaker in North America. The fallout will be significant whether the workers at Mercedes-Benz vote to join the United Auto Workers union or not. And last month, it won a union election at a Volkswagen plant in Chattanooga, Tennessee, its first victory in three attempts to organize the factory. Though a union win could generate momentum, it doesn’t mean a victory will mean other plants can overcome management opposition at other foreign-owned plants. Non-union automakers have already begun their response to the big union victories thus far.
Persons: Shawn Fain, Fain, , , Tesla, Mercedes, Mercedes ’, , MBUSI, Wheaton, Mercedes plant’s, It’s, Mercedes Benz, ” Wheaton, “ It’s, Harry Katz, ” Katz, Katz, ’ ” Katz, they’ve, CNN’s Chris Isidore, Nathaniel Meyersohn Organizations: New, New York CNN, Benz, Mercedes, United Auto Workers, UAW, Big Three, Volkswagen, Kia, Toyota, US, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Volvo, Team, The National Labor Relations Board, Benz US International, Member, Volkswagen didn’t, Cornell University School of Industrial and Labor Relations ’, CNN, “ Labor, Big, – GM, Ford, Cornell University School of Industrial and Labor Relations, P Global Market Intelligence, General Motors Locations: New York, Tuscaloosa , Alabama, North America, Chattanooga , Tennessee, United States, Vance , Alabama, Tuscaloosa, , Cornell University School of Industrial and Labor Relations ’ Buffalo, Alabama, Alabama , Georgia , Mississippi, South Carolina , Tennessee, Texas
Simonskafar | E+ | Getty ImagesIncentives are coming back to the auto market, but high interest rates are weakening those deals for car shoppers. In today's market, consumers are more likely to see it as "free money," she said, especially as auto loan rates stay high. watch nowWhen you roll that into your new car loan, it increases your payment. Search for available incentives: Car shoppers will have to a do lot more shopping and research to find available incentives, Caldwell said. Know your credit score: While shoppers might come across 0% financing offers, those deals are often reserved for buyers with excellent credit.
Persons: Jessica Caldwell, Trump, Brian Moody, Kelley, Edmunds, Caldwell, That's, that's, Moody Organizations: Getty, Finance, Biden Locations: Edmunds
The best fashion at Cannes Film Festival so far
  + stars: | 2024-05-16 | by ( Leah Dolan | ) edition.cnn.com   time to read: +2 min
Gisela Schober/German Select/Getty ImagesGreta Gerwig in Armani Privé, May 15. Gisela Schober/German Select/Getty ImagesAnya Taylor-Joy in Dior couture, May 15. Gisela Schober/German Select/Getty ImagesSabrina Dhowre Elba in Fendi couture, May 15. Lionel Hahn/Getty ImagesJuilette Binoche in Dior couture, May 14. Gisela Schober/German Select/Getty ImagesMeryl Streep in Dior couture, May 14.
Persons: “ Barbie, Greta Gerwig, Lily Gladstone, James Bond, Eva Green, Juan Antonion Bayon, Ebru Ceylan, Francis Ford Coppola’s, , , Adam Driver, Aubrey, Mad Max, Anya Taylor, Lanthimos, Emma Stone, Hunter Schafer, Joe Alwyn, Margaret Qualley, Keke Palmer, We’ve, Taylor, Joy, Naomi Campbell, Pascal Le Segretain, Chanel, Gisela Schober, Armani Privé, Sabrina Dhowre Elba, Ernesto Ruscio, Cindy Bruna, Samir Hussein, Vicky Krieps, Lionel Hahn, Meryl Streep, Dior, Mike Marsland, Neilson Barnard Organizations: CNN, haute, Getty Locations: Spanish, Turkish, France, Armani, couture, Fendi couture, Laruicci, Bottega Veneta, Dior couture, Gucci, Maison Margiela
Read previewTesla CEO Elon Musk made the snap decision to fire the entire Supercharger team after its division chief refused to make further layoffs happen, Reuters reported on Wednesday. The billionaire said in an email to staff on April 29 that he was dissolving the entire team behind Tesla's charging infrastructure, per The Information. AdvertisementRepresentatives for Tesla, Musk, and Tinucci didn't respond to Reuters' request for comment. The Tesla chief moved quickly to assuage concerns, and assured investors that Tesla's Supercharger network isn't going anywhere. A slowdown in the rollout of Tesla's charging infrastructure would thus be a setback for Biden's clean-energy agenda.
Persons: , Elon Musk, Musk, Rebecca Tinucci, Tinucci, Tesla's, Tesla, Mercedes Benz, haven't, Aaron Luque, Joe Organizations: Service, Reuters, Bloomberg, Business, Tesla, The, Motors, Ford, Politico, BI
Read previewThe USS Ronald Reagan, the only aircraft carrier in the US Navy forward deployed, or permanently stationed in another country, is leaving Japan after spending nearly a decade in the Pacific. Related storiesIn 2021, USS Ronald Reagan briefly left its forward-deployed position to provide air support during US withdrawal operations in Afghanistan. USS Ronald Reagan traveling through the Straits of Magellan, to San Diego, CA, in a transfer move. US Navy/Photographer's Mate 3rd Class Elizabeth ThompsonThe USS Ronald Reagan already had a history of cooperation with Japan prior to its deployment. "Whether it's aboard USS Ronald Reagan today or USS George Washington in the future, we will continue to strengthen those ties at all levels, on-shore and at-sea."
Persons: , Ronald Reagan, Ronald Reagan Sailors, Daryle Cardone, Ronald Reagan's, Reagan, Photographer's, Elizabeth Thompson, USS George Washington, George Washington, Greg Newkirk, Anthony Wallace, Gerald R Organizations: Service, US Navy, Business, Nimitz, Carrier Strike, CSG, Fleet, USS, Japan, Self, Defense Force, Navy, Aircraft, Getty, Pacific . Aircraft, US, Pacific Locations: Japan, Yokosuka, China, Afghanistan, Magellan, San Diego , CA, Bremerton , Washington, Israel, Iran, Gaza, Pacific, Russia, North Korea
Opinion: Why Biden’s eager to debate Trump
  + stars: | 2024-05-15 | by ( Julian Zelizer | ) edition.cnn.com   time to read: +7 min
CNN —President Joe Biden and former President Donald Trump have both accepted an invitation from CNN to debate on June 27, nearly four years since they last clashed onstage. As you said: anywhere, anytime, any place.” Trump later told CNN’s Kaitlan Collins he also accepted. One of the biggest changes that took place in campaigns was who determined the structure. Join us on Twitter and FacebookNext month, President Biden will have an opportunity to demonstrate that concerns about his age are misplaced. Former President Trump will have a chance to prove that he has some kind of compelling vision for the country beyond his desire to take down his opponents and the establishment.
Persons: Julian Zelizer, , Joe Biden, Donald Trump, Biden, “ I’ve, Donald, ” Trump, CNN’s Kaitlan Collins, Trump, mano, John Kennedy, Richard Nixon, Gerald Ford, Jimmy Carter, Ford, Ronald Reagan, Walter Mondale, George H.W, Bush, Bill Clinton, Ross Perot, Hillary Clinton, White supremacists, Robert F, Kennedy Jr, hasn’t Organizations: CNN, Princeton University, Twitter, ABC, Republican, Fox News, Democratic Party, Trump, Biden, Commission, Georgia Gov, Arkansas Gov, League of Women Voters Locations: @CNN, JFK’s, Soviet Union, Eastern Europe,
Win Mcnamee | Getty ImagesDETROIT – President Joe Biden's plan to quadruple tariffs on China-made electric vehicles is unlikely to stave off the threat of more Chinese cars and trucks on U.S. roadways. Automotive and trade experts say the increased tariffs are a near-term protectionism act that may delay, but won't stop, Chinese automakers from coming to the U.S. with EVs. The EV tariffs, including other increases regarding battery materials, were among new tariff rates on $18 billion worth of Chinese imports. The quality and build of vehicles by Chinese automakers have gotten significantly better in recent years, as the Chinese government has subsidized their operations to grow domestic production. GM and others have found it hard to compete against budget and mainstream Chinese vehicles, including EVs.
Persons: Joe Biden, Win Mcnamee, Joe Biden's, It's, Dan Hearsch, Stellantis —, Warren Buffett, BYD, Morgan Stanley, Tim Hsiao, Lincoln Organizations: White, Getty, DETROIT, Communist, U.S . Automotive, Motors, U.S, — GM, Ford Motor, Chrysler, Warren, EV, Wall Street, China Association of Automobile Manufacturers, U.S . Vehicles, Lincoln Nautilus, Volvo, Biden Administration Locations: Rose, Washington , DC, China, Mexico, Americas, U.S
The company's goal is to add 10,000 bidirectional EV school buses across the U.S. with 300 gigawatt hours of energy available to power grids each year. In effect, instead of the one-way charge into the vehicle, the school buses will be able to send their battery power back to the grid through Zum charging infrastructure. The roughly 500,000 school buses are mostly diesel, contributing to emissions. Ram Ambatipudi, senior vice president of business development at EV Connect, which provides EV charging solutions, said the school bus model is one of the most promising in the area of using EV battery storage in a bidirectional nature. "The low-hanging fruit from what I've seen is the school bus model," Ambatipudi said.
Persons: Ritu Narayan, Ram Ambatipudi, Ambatipudi, It's Organizations: San, San Francisco Unified, Los Angeles Unified, Oakland Unified, EV Connect, Ford Locations: California, San Francisco, Oakland, California , Colorado , Connecticut , Illinois, Maryland , Massachusetts , Missouri , Nebraska , Pennsylvania, Tennessee , Texas, Washington , Utah, Virginia, U.S
President Biden came out swinging this week when he announced a series of steep tariffs on Chinese imports, including 25 percent on certain steel and aluminum products, 50 percent on semiconductors and solar panels and 100 percent on electric vehicles. The administration’s official reason for the policy is simple: Chinese imports are undercutting American manufacturers in swing states like Michigan, Wisconsin and Pennsylvania. And Mr. Biden wants to protect them from competition, as he pours huge amounts of government money into building up the manufacturing of electric vehicles and solar panels that can eventually compete with China’s inexpensive offerings. But the truth is, these new tariffs on electric vehicles are little more than a handout to legacy car companies like General Motors and Ford. With more cash and better credit, wealthy Americans are the only ones who can afford the electric vehicles currently on the market, which cost over $55,000 on average.
Persons: Biden, aren’t Organizations: General Motors, Ford Locations: American, Michigan , Wisconsin, Pennsylvania, United States, U.S
As anticipation for the premiere of “Megalopolis,” Francis Ford Coppola’s first film in more than a decade, built to a fever pitch at Cannes, the director faced accusations Tuesday that he tried to kiss extras during a nightclub sequence. A report in The Guardian detailing the film’s chaotic production said that according to anonymous sources, Coppola pulled women to sit on his lap, and tried to kiss scantily clad extras. In response, a representative for Coppola referred to a statement from the executive producer Darren Demetre, published by The Hollywood Reporter, in which he said, “I was never aware of any complaints of harassment or ill behavior during the course of the project.” Demetre also noted in the statement that during two days of shooting a “celebratory Studio 54-esque club scene,” the director “walked around the set to establish the spirit of the scene by giving kind hugs and kisses on the cheek to the cast and background players. It was his way to help inspire and establish the club atmosphere, which was so important to the film.”The article focused largely on the movie’s unusual production conditions and, citing an unnamed crew member, said that Coppola stayed in his trailer for hours at a time, delaying filming.
Persons: , ” Francis Ford Coppola’s, Coppola, Darren Demetre, ” Demetre, Organizations: Cannes, Guardian, The Hollywood
The Biden administration's decision to impose tariffs on $18 billion worth of imports from China could help a handful of stocks break out, according to Morgan Stanley. Stocks that are poised to benefit include U.S. automakers Ford and General Motors , as well as solar panel manufacturer First Solar . Morgan Stanley maintains an overweight rating on First Solar stock. GM YTD mountain General Motors stock. Morgan Stanley maintains an overweight rating on both Ford and GM.
Persons: Morgan Stanley, Laura Sanchez, Sanchez Organizations: Biden, White, U.S, Ford, General Motors, Wall, Department of Commerce and International Trade Commission, GM Locations: China, Cambodia, Malaysia, Thailand, Vietnam
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