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Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan U.S. September 29, 2023. The UAW strike has hit the one-month mark, with more than 34,000 union members working at Ford, General Motors and Chrysler parent Stellantis out on strike, including those who went out on strike at Ford's cash-cow Kentucky pickup truck plant last week. The supplier is considering temporary layoffs and other ways to cut spending to counter the impact of UAW strikes, Durand told reporters. "Given the organic growth out-performance across the regions (excluding North America) and continued execution of synergies, the outlook for 2024 organic growth and margin expansion looks intact," Citi analysts wrote in a client note. It reiterated a 2023 sales forecast of 26.5 billion to 27.5 billion euros and an operating margin target of 5.2% to 6.2%.

Persons: Rebecca Cook, Olivier Durand, Durand, Forvia, Michal Aleksandrowicz, Milla Nissi, Tomasz Janowski, Jan Harvey Organizations: United Auto Workers, UAW, General Motors Lansing Delta Plant, Michigan U.S, REUTERS, Ford, GM, General Motors, Chrysler, Citi, Thomson Locations: Delta Township, Michigan, Forvia, Kentucky, North America, Gdansk

☆ These new photos of Trump looking hella grumpy on a golf course just days before being indicted in Georgia are really something
▼ + stars: | 2023-08-16 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

The Trump National Golf Club Bedminster was hosting the LIV Golf Invitational series tournament. The former President looked gloomy and tense while he was at his golf club last week. Trump hitting his shot from the first fairway during the pro-am prior to the LIV Golf Invitational series tournament on August 10. Trump was seen standing on the course ahead of the LIV Golf Invitational series tournament at his New Jersey golf club on August 9. Trump looking on at the 18th green during day three of the LIV Golf Invitational series tournament on August 13.

Persons: Trump, Donald Trump, Kyle Mazza, LIV, Mike Stobe, Getty Images Trump, Timothy A, Clary, Crooked Joe Biden, Rudy Giuliani, Sidney Powell, Mark Meadows Organizations: Trump National Golf Club Bedminster, LIV, Service, Trump National Golf Club, Anadolu Agency, Getty, Getty Images, Trump, New York, White House Locations: Georgia, Wall, Silicon, Bedminster, Bedminster , New Jersey, New Jersey

☆ Forvia's shares fall after 'unimpressive' outlook hike
▼ + stars: | 2023-07-27 | by ( Michal Aleksandrowicz | ) www.reuters.com time to read: +2 min

July 27 (Reuters) - Forvia's (FRVIA.PA) shares fell as much as 8% in early trading on Thursday, after a slight hike to the car parts maker's annual targets failed to impress investors. The world's seventh-largest automotive supplier raised its estimate for global auto production to around 86 million light vehicles this year, from 82 million previously. It forecast 2023 sales of 26.5-27.5 billion euros ($29.4-30.5 billion), up from an earlier range of 25.2-26.2 billion. Global automotive production grew more than 10% in the first half of the year, on sustained demand and gradual improvement in semiconductors supply, CEO Patrick Koller said in a statement. Forvia's half-year operating profit jumped nearly 70% to 675 million euros, but was 2% below analysts' consensus estimates, according to a research note by J.P.Morgan.

Persons: Patrick Koller, Olivier Durand, J.P.Morgan, Michal Aleksandrowicz, Milla Nissi, Bernadette Baum Organizations: Global, Thomson Locations: Gdansk

☆ Here are 5 key trends shaping the liquor industry as spirits overtake beer for the first time
▼ + stars: | 2023-06-16 | by ( Stefan Sykes | ) www.cnbc.com time to read: +7 min

Jason Koerner | Getty ImagesCHICAGO — The spirits industry is overcoming economic headwinds to meet changing consumer preferences as it chips away at the dominance of beer. Despite supply chain issues and high inflation, the beverage alcohol industry has a lot to toast to these days, said Chris Swonger, president and CEO of DISCUS. "This is a great American success story," Swonger said of the industry's market share supremacy. As the spirits industry works to maintain its top spot this year amid fears of a recession, here are some key trends industry leaders who spoke to CNBC see shaping the business today. The company runs incubator and accelerator programs to develop Black talent within the spirits industry.

Persons: Casamigos, Alo, Jason Koerner, Beer, Chris Swonger, Swonger, We're, George Clooney, Mark Wahlberg, Wahlberg, Aron Marquez, Ryan Reynolds, Sean, Diddy, Combs, Kendall Jenner, Dwayne Johnson, Michael Jordan, David Beckham, it's, Patrick Shorb, Molson Coors, Tobin Ludwig, Pinkard Organizations: Alo Miami, Getty, CHICAGO, CNBC, Diageo, Chicago, Brands, Heineken, Anheuser, Busch InBev, Molson, Hella, Black Locations: Miami, United States, Chicago, Pennsylvania

The pan-European STOXX 600 index (.STOXX) closed 0.1% higher ahead of a slew of economic data due later this week. Telecom Italia (TIM) (TLIT.MI) fell 2.7% as a government-sponsored offer rivalling KKR's bid for the former phone monopoly's prized grid failed to materialise over the weekend. The EURO STOXX index (.STOXXE), which houses major companies in the eurozone, inched down 0.1%. On the economic front, euro zone consumer confidence rose by 1.7 points in February from January, as expected, figures showed. Forvia, the European car parts maker born from Faurecia's (EPED.PA) takeover of Hella (HLE.DE), forecast stable 2023 sales, sending Faurecia nearly 2.3% higher.

☆ Car parts maker Forvia sees stable sales in 2023
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: 1 min

Feb 20 (Reuters) - Forvia, the European car parts maker born from Faurecia's (EPED.PA) takeover of Hella (HLE.DE), on Monday forecast 2023 sales in the range of 25.2 billion to 26.2 billion euros ($26.9 billion to $28.0 billion), after its annual sales of 25.5 billion euros reached the upper end of its guidance. The group, which sells seats, dashboards and fuel systems to carmakers, also targets an operating margin of between 5% and 6% for the current fiscal year and a net cash flow exceeding 1.5% of sales. The guidance is based on estimated worldwide automotive production of 82 million vehicles, Forvia said in its earnings statement. ($1 = 0.9355 euros)Reporting by Dagmarah Mackos in Gdansk; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ European shares flat as Telecom Italia drags eurozone stocks
▼ + stars: | 2023-02-20 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +2 min

The pan-European STOXX 600 index (.STOXX) was flat after opening marginally higher. That also boosted oil prices, lifting European energy stocks (.SXEP) by 0.3%. The EURO STOXX index (.STOXXE), which houses major companies in the eurozone, dipped 0.1%. Telecom Italia (TIM)(TLIT.MI) shares dropped 3% as a government-sponsored offer rivalling KKR's bid for the former phone monopoly's prized grid failed to materialise over the weekend. The European autos and auto parts sector index (.SXAP) rose 0.6%.

☆ French car parts group Faurecia to sell SAS cockpit unit to Motherson
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +1 min

PARIS, Feb 19 (Reuters) - French car parts maker Faurecia (EPED.PA) has agreed to sell its SAS Cockpit Modules arm to automotive supplier Motherson Group (SAMD.NS), in a transaction based on an enterprise value of 540 million euros ($577.5 million), Faurecia said on Sunday. Faurecia last year took over German rival Hella (HLE.DE) to form a new European car parts company called FORVIA, and Faurecia chief Patrick Koller said the sale of the SAS business would help FORVIA to focus better on its core activities. "I am convinced that this transaction would unlock additional value for SAS," Koller said in a statement. "This would also allow FORVIA to focus on its core business activities developing breakthrough technologies and would fulfil our non-strategic asset divestment programme of 1 billion euros by end-2023," he added. ($1 = 0.9351 euros)Reporting by Sudip Kar-Gupta; Editing by David Goodman and David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Investments flow to automated vehicles in non-auto settings
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

Feb 1 (Reuters) - Corporate and private investors have turned from funding autonomous trucks and passenger cars to companies and applications in a variety of non-automotive settings, from construction and mining to airports and agriculture. Among them:Company: Aurrigo (AURR.L)Headquarters: Coventry, UKStatus: publicFounded: 1993Focus: urban & airport shuttlesMarket capitalization: $40 millionCompany: OxboticaHeadquarters: Oxford, UKStatus: privateFounded: 2014Focus: passenger shuttles, warehouse vehicles, last-mile deliveryInvestors: ZF, BP, Ocado, Eneos, AXA, TencentMoney raised: $256 millionValuation: $720 millionPartners: ZF, BP, OcadoCompany: EinrideHeadquarters: Stockholm, SwedenStatus: privateFounded: 2016Focus: logistics yardsInvestors: Maersk, Ericsson, TemasekMoney raised: $655 millionPartners: Maersk, Bridgestone, InBev, GECompany: OutriderHeadquarters: Golden Colorado, USAStatus: privateFounded: 2017Focus: yard & warehouse vehiclesInvestors: Nvidia, Sumitomo, Abu Dhabi Investment FundMoney raised: $200 millionValuation: $550 millionCustomers: Georgia-PacificCompany: TeleoHeadquarters: Palo Alto, California, USAStatus: privateFounded: 2019Focus: construction & mining equipmentInvestors: UP Partners, Trucks, F-Prime, K9Money raised: $12 millionValuation: $44 millionCompany: Parallel SystemsHeadquarters: Los Angeles, USAStatus: privateFounded: 2020Focus: railcarsInvestors: Anthos, Congruent, Embark, RiotMoney raised: $53 millionValuation: $188 millionCompany: KodiakHeadquarters: Mountain View, California, USAStatus: privateFounded: 2018Focus: trucks, defense vehiclesInvestors: BMW, Bridgestone, PilotMoney raised: $198 millionValuation: $506 millionCustomers: IkeaCompany: Fox RoboticsHeadquarters: Austin, Texas, USAStatus: privateFounded: 2017Focus: forkliftsInvestors: Menlo, Eniac, Congruent, AMEMoney raised: $33 millionCompany: Apex.AIHeadquarters: Palo Alto, California, USAStatus: privateFounded: 2017Focus: agriculture equipmentInvestors: Toyota, Airbus, Agco, Daimler Truck, ZF, Jaguar Land Rover, Volvo Group, Hella, ContinentalMoney raised: $74 millionValuation: $297 millionSources: PitchBook, companiesReporting by Paul Lienert in Detroit Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

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☆ This scientist was irked by the phrase 'hella' big — so he created 2 new units of measurement
▼ + stars: | 2023-01-10 | by ( Adam Rogers | ) www.businessinsider.com time to read: +13 min

Metric measurements — also known as the International System of Units, or SI — are managed by a formal international organization. The prefixes Brown came up with are ronna and ronto for 1027 and 10-27 and quetta and quecto for 1030 and 10-30. In fact, SI units used to be based on actual, real-life physical artifacts. "If everyone sticks to SI prefixes," Brown says, "you don't have to go on Wikipedia to find out how long a light-year is or the power in 1 jansky." Pražák proposed sticking to Greek words and letters.

☆ China has a 10,000 euro cost advantage in small EVs, auto supplier says
▼ + stars: | 2023-01-05 | by ( Joseph White | ) www.reuters.com time to read: +3 min

The issue is "more dangerous" for Europe than the United States, Koller told Reuters in an interview, as high duties have limited China's U.S. market share. Koller said Chinese EV makers can produce vehicles for less because they have lower research and development costs, lower levels of capital spending and lower labour costs than rivals in Europe. Forvia, the company created when French auto supplier Faurecia took 82% control of German supplier Hella, is the seventh largest automotive component maker in the world. By contrast, high duties in the United States on Chinese-made vehicles have so far kept China's share of the U.S. auto market negligible. Koller said Forvia will invest more in the United States, in part to take advantage of federal incentives provided in the Inflation Reduction Act signed into law in August.

For years, in fact, Paula clownishly put all those larger cousins on notice, warning them that he’d one day beat them up. From the Bloomfield Tahi familyComing to the plate during the kickball game, Paula was chirping at an older cousin playing first base, who’d recently torn his A.C.L. From the Bloomfield Tahi familyPaula was a voraciously social teenager, a cannonball of comic, kinetic energy. From the Bloomfield Tahi familyTo lessen his boredom, the family treated Paula to a road trip to see a favorite uncle in California. He’d try to run off.”On Jan. 13, Paula Tupou Bloomfield Tahi was shot during an altercation with other teenagers near his school in West Valley City, Utah.

And whenever any of these cousins gathered to play kickball — whenever the cousins gathered at all — the name-calling and smack talk flew lovingly in all directions. For years, in fact, Paula clownishly put all those larger cousins on notice, warning them that he’d one day beat them up. “Wait until I hit 18,” he’d say. From the Bloomfield Tahi familyPaula was a voraciously social teenager, a cannonball of comic, kinetic energy. From the Bloomfield Tahi familyTo lessen his boredom, the family treated Paula to a road trip to see a favorite uncle in California.

From the Bloomfield Tahi familyComing to the plate during the kickball game, Paula was chirping at an older cousin playing first base, who’d recently torn his A.C.L. From the Bloomfield Tahi familyPaula was a voraciously social teenager, a cannonball of comic, kinetic energy. He lived with his parents, six of his sisters, his grandma, his aunt and uncle and their six children. From the Bloomfield Tahi familyTo lessen his boredom, the family treated Paula to a road trip to see a favorite uncle in California. He’d try to run off.”On Jan. 13, Paula Tupou Bloomfield Tahi was shot during an altercation with other teenagers near his school in West Valley City, Utah.

Since age 8, Paula played in a kind of Little League feeder program for Hunter High School in West Valley City. And so, ever since he was tiny, Paula wore Hunter High School Wolverines sweatshirts. From the Bloomfield Tahi familyPaula was a voraciously social teenager, a cannonball of comic, kinetic energy. From the Bloomfield Tahi familyTo lessen his boredom, the family treated Paula to a road trip to see a favorite uncle in California. He’d try to run off.”On Jan. 13, Paula Tupou Bloomfield Tahi was shot during an altercation with other teenagers near his school in West Valley City, Utah.

☆ What Guns Did to My Childhood
▼ + stars: | 2022-12-14 | by ( Mitchell S. Jackson | ) www.nytimes.com time to read: +10 min

Isn’t a part of childhood feeling insecure and divining ways to resolve those feelings or else abide them? From Mitchell S. JacksonThe presence of gangs — mind you, a predictable symptom of poverty and neglect — led to the prevalence of guns that shaped much of the normal childhood maturing around me as a kid. It surprises me little to none that Black boys are the likeliest to die by guns. These guns alter their lives in significant ways, not in the least by nullifying the childhood grace of feeling the greatest distance from death. Amen, I’ve never had to sit him down for a stern talk on guns or the violence and grieving they reap.

☆ Faurecia may be 'last of the Mohicans' in pollution control - CEO
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

The new group, whose activity portfolio now includes hydrogen storage, seats, cockpit, lighting, and pollution control, will present its medium-term strategy on Nov. 4. Koller also confirmed the group's objective of reaching 250 million euros ($244 million) in synergies and one billion euros in asset disposals, which he announced shortly after the Hella acquisition. "As for synergies, we are perfectly in line with our business plan. As for asset disposals, we are perfectly confident in our ability to deliver on this billion," he said. ($1 = 1.0227 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Gilles Guillaume, writing by Louise Rasmussen; editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ Biden says he plans to run for reelection in 2024, but here's one reporter's lesson from 2008 on why anything is possible
▼ + stars: | 2022-09-17 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +7 min

He said there was no chance of him becoming vice president. They're real," Biden told me that afternoon. Mark Bowden later asked Biden, then vice president, in his West Wing office about that marathon quote. "That was absolutely, positively true when I said it," Biden told him. I never, never, never, never aspired to be vice president.

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