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☆ Why China poses a growing threat to the U.S. auto industry
▼ + stars: | 2024-01-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.

Persons: —, Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America

☆ Inter's perfect start ended by Sassuolo
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

[1/5] Soccer Football - Serie A - Inter Milan v U.S. Sassuolo - San Siro, Milan, Italy - September 27, 2023 U.S. Sassuolo's Domenico Berardi in action with Inter Milan's Alessandro Bastoni REUTERS/Massimo Pinca Acquire Licensing RightsMILAN, Sept 27 (Reuters) - Inter Milan's perfect start to the Serie A season ended as Sassuolo mounted a fine comeback to secure a shock 2-1 victory on Wednesday. Inter led through a first-half goal by Denzel Dumfries but Sassuolo, coming off Saturday's 4-2 home victory over Juventus, secured all three points with goals from Nedim Bajrami and Domenico Berardi. For what we created, we should’ve scored more than one goal," Inter manager Simone Inzaghi told DAZN. If you lose your shape against a team like Sassuolo, it becomes very difficult." Inter visit Salernitana on Saturday in Serie A before hosting Benfica on Oct. 3 in the Champions League group stage.

Persons: Sassuolo's Domenico Berardi, Alessandro Bastoni, Massimo Pinca, Denzel Dumfries, Nedim Bajrami, Domenico Berardi, Stefano Pioli's, should’ve, Simone Inzaghi, DAZN, Dumfries, Sassuolo, Bajrami, Yann Sommer, Berardi, Inzaghi, Victor Osimhen, Matias Vecino, Mattia Zaccagni, Tommy Lund, Ed Osmond Organizations: Soccer, Inter Milan, Inter, Alessandro Bastoni REUTERS, Serie, Wednesday, Juventus, Milan, Cagliari, Salernitana, Serie A, Benfica, Champions League, Napoli, Udinese, Lazio, Torino, Thomson Locations: San Siro, Milan, Italy, U.S, Sassuolo, Gdansk

☆ Top of the table clash gives Milan derby extra edge
▼ + stars: | 2023-09-14 | by ( Trevor Stynes | ) www.reuters.com time to read: +3 min

The match at the San Siro will be the first time since 1962 that the Milan sides meet while top of the table. But this Milan side are a different proposition from the team who put up such a disappointing defence of their league title last season. Preparations for the derby will mostly come down to the last few days with most of their starting players returning from international duty. Milan have a concern over Giroud after he went off injured in France's win over Ireland last week but are hopeful he can recover. Jose Mourinho's AS Roma, with just one point from three games, will try to kick-start their season when they host Empoli on Sunday.

Persons: Stefano Pioli, Massimo Pinca, San Siro, Stefano Pioli's, Tijjani Reijnders, Christian Pulisic, Ruben Loftus, Cheek, Pulisic, Rafael Leao, Loftus, Reijnders, Milan, Sandro Tonali, Olivier Giroud's, Lautaro Martinez, Martinez, Simone Inzaghi, Romelu, Eden Dzeko, Marcus Thuram, Luka Jovic, Fikayo Timori, Simon Kjaer, Jose Mourinho's, Trevor Stynes, Peter Rutherford Organizations: Soccer, Juventus, AC Milan, Allianz, Milan, Inter, Serie, Napoli, Lazio, San, Fiorentina, Champions League, Serie A's, France's, Ireland, Juve, Genoa, Lecce, Jose Mourinho's AS Roma, Empoli, Thomson Locations: Turin, Italy, Saturday's Milan, Milan, Newcastle, Monza

☆ Juventus owners are considering selling club - press
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

Soccer Football - Europa League - Semi Final - First Leg - Juventus v Sevilla - Allianz Stadium, Turin, Italy - May 11, 2023 General view of Juventus flags seen outside the stadium before the match REUTERS/Massimo Pinca/File Photo Acquire Licensing RightsROME, Sept 11 (Reuters) - The Exor holding company that owns Juventus is considering putting the Serie A club up for sale, Italian daily Il Giornale wrote on Monday, without citing sources. Exor believes that after operations to clean up the accounts of Italy's most historically successful team it can put it on sale for at least 1.5 billion euros ($1.61 billion), Il Giornale added. Juventus was banned from UEFA competition for this season after finishing seventh in Serie A last term due to a 10-points deduction for alleged false accounting practices. Speculation has arisen in the past about the possibility of Exor selling Juventus, and in May a company spokesman told Reuters its commitment to the club "remains unchanged." ($1 = 0.9316 euros)Reporting By Gavin Jones, editing by Cristina CarlevaroOur Standards: The Thomson Reuters Trust Principles.

Persons: Massimo Pinca, Il Giornale, Agnelli, Exor, Giornale, Gavin Jones, Cristina Carlevaro Organizations: Soccer Football, Europa League, Juventus, Sevilla, Allianz, Rights, Serie, UEFA, Thomson Locations: Turin, Italy, Netherlands

☆ Five railway workers killed in north Italian train accident
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

TURIN, Italy, Aug 31 (Reuters) - Five Italian railway workers were killed when they hit by a train near Turin, the state railway Rete Ferroviaria Italiana (Rfi) said on Thursday. The train was travelling at about 160 kph (100 mph), news agency ANSA quoted police as saying. [1/5]Officials walk on rail tracks on the site of a train accident in which workers were killed, in Brandizzo, Italy, August 31, 2023. Two workers managed to avoid the goods train and were unhurt, ANSA reported. The train driver was treated for shock on the scene and then allowed to go home.

Persons: ANSA, Massimo Pinca, Gavin Jones, Robert Birsel Organizations: Ferroviaria, REUTERS, Thomson Locations: TURIN, Italy, Turin, Brandizzo, Milan

☆ Haaland wins UEFA award, Wiegman dedicates prize to Spain
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

Wiegman dedicated her award to the Spain women's team after the kiss incident involving federation president Luis Rubiales took the spotlight when Spain secured their first Women's World Cup title. "I would like to dedicate this award to the Spanish team - the tam that played in a World Cup such great football that everyone enjoys. World Cup winner Aitana Bonmati, who helped Barcelona to Women's Champions League and Spanish league title, won the women's player of the year award. The 25-year-old registered a competition-high 13 goal contributions in the Champions League with five goals and eight assists. "We have just won the World Cup, but they are talking about other things."

Persons: Manchester City's Erling Braut Haaland, Massimo Pinca, Erling Haaland, Pep Guardiola, Aitana Bonmati, Sarina Wiegman, Kevin De Bruyne, Lionel Messi, Guardiola, Luciano Spalletti, Napoli, Simone Inzaghi, Wiegman, Luis Rubiales, there's, Sarina, Bonmati, Anita Kobylinska, Ed Osmond Organizations: Soccer Football, Monaco, FC Barcelona's Aitana, Rights, Manchester City, UEFA, City, Champions League, English Premier League, FA, Association, Serie, Inter, SPAIN England, Brazil, Wembley, Spain women's, Spanish, Women's Champions League, Thomson Locations: Manchester, Spanish, Norwegian, Monaco, Inter Milan, SPAIN, Spain, Barcelona, Gdansk

☆ Electric truck maker Nikola may do reverse stock split to comply with Nasdaq rules
▼ + stars: | 2023-06-01 | by ( Abhirup Roy | ) www.reuters.com time to read: +2 min

SAN FRANCISCO (Reuters) -Electric truck maker Nikola Corp may execute a reverse stock split if its stock does not comply with Nasdaq’s minimum bid price requirements within a certain period, its chief executive Michael Lohscheller said on Thursday. Nasdaq requires shares trade above $1 and sends a notice if one trades below that mark for 30 consecutive business days. If Nikola cannot comply in those periods, the company can execute the reverse stock split, subject to a shareholder vote, to move its shares above the $1 mark, Lohscheller said. A reverse stock split consolidates the number of existing shares into fewer shares. Cash burn in the first quarter was $240 million, compared with $200 million per quarter in 2022, Nikola said last month.

Persons: Nikola, Michael Lohscheller, Massimo Pinca Nikola, Lohscheller, ”, Cash, ” Nikola Organizations: FRANCISCO, Reuters, U.S, Nikola, REUTERS, Nasdaq, Companies, ” Investors Locations: Turin, Italy

☆ Juventus says first half loss shrinks as pandemic impact fades
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

The result compares with a restated loss of 112.1 million euros for the same period of the previous fiscal year. Juventus said in a statement that revenue development and actions taken to contain costs had also contributed to narrowing the loss in the six months to Dec. 31. It added that although the economic and financial background remained unfavourable, there was a "significant improvement" in the current fiscal year compared to the previous one. The club, which posted a 239 million euro loss for the year to June 30, 2022, had already said in September that it expects to also finish the current fiscal year in the red. Juventus are now in seventh place, just four points outside the European qualifying places.

☆ Kevin Spacey hails Italy museum for having 'the guts' to honour him
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] Oscar-winning actor Kevin Spacey poses as he is awarded by the National Museum of Cinema of Turin with the "Stella della Mole Award" in Turin, Italy, January 16, 2023. REUTERS/Massimo PincaTURIN, Jan 16 (Reuters) - Kevin Spacey picked up a career award in Italy on Monday, despite controversy over the sex crime allegations that have tarnished the reputation of the Oscar-winning American actor. The Museum of Cinema in Turin said it handed the prize in recognition of Spacey's "personal aesthetic and authorial contribution to the development of the art of drama." "I am surely blessed and grateful and humbled and my heart is very full tonight toward the Museum of Cinema for having had le palle (the guts) to invite me tonight," he said. In the run-up to the award ceremony, the Turin-based La Stampa newspaper ran an editorial headlined "Italy, land of plenary indulgence".

☆ 'Class, charisma, tenacity': Italian football pays tribute to Vialli
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +3 min

Vialli, who earned 59 caps for Italy and enjoyed a stellar club career with Sampdoria, Juventus and Chelsea, passed away on Friday aged 58 after a long battle with cancer. I can never forget your sense of humour, your class, your charisma, your tenacity. "Nobody can ever forget the memories you gave us with your football and your goals. "Unfortunately, you have had to fight a great and terrible battle in life these past few years. Reporting by Aadi Nair and Tommy Lund Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

☆ Europe - the warning light flashing on carmakers' dashboards
▼ + stars: | 2022-11-03 | by ( Nick Carey | ) www.reuters.com time to read: +3 min

"Obviously the macro(-economic situation) in Europe is more challenging, which gives me pause, personally," Stellantis chief financial officer Richard Palmer said on a conference call with analysts. "If there was anywhere where I was more concerned, it would be Europe than anywhere else really based on the macro." They have also benefited from strong consumer demand amid low vehicle supply, allowing them to raise prices and keep them high even as the semiconductor shortage shows signs of easing. Both BMW and Stellantis said on Thursday they had vehicle order books that stretched into the second quarter of 2023. "And the ones we can build in Europe at the moment we're struggling to get to the point of sale."

☆ Italian economy faces threat from climate change - central bank
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

A person holds an umbrella by the Milan's Duomo cathedral at Duomo square, as temperatures soar during a heatwave in Milan, Italy, July 21, 2022. REUTERS/Massimo Pinca/File PhotoROME, Oct 19 (Reuters) - Rising temperatures risk stunting the growth of the Italian economy over the coming decades, with sectors such as agriculture and tourism among the hardest hit, a Bank of Italy research project said on Wednesday. Gross domestic product per person could fall by anything between 2.8 and 9.5% by 2100 compared with baseline estimates, the report added. Resorts at lower levels faced the greatest risk, with artificial snow unable to compensate fully for the absence of the genuine article. Register now for FREE unlimited access to Reuters.com RegisterWriting by Keith Weir, editing by Alvise Armellini and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Stellantis invests in Turin as part of switch to electric
▼ + stars: | 2022-09-20 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +2 min

REUTERS/Massimo Pinca/File PhotoTURIN, Italy, Sept 20 (Reuters) - Stellantis (STLA.MI)signalled its commitment to the historic carmaking city of Turin on Tuesday with an investment to boost its role in electric vehicle production and as a centre for the recycling of cars and their parts. The Franco-Italian group signed an agreement with its partner Punch Powertrain to increase production of electrified dual-clutch transmissions (eDCT) for hybrid and plug-in hybrid electric vehicles at its Mirafiori plant in Turin, the carmaker said on Tuesday. Chief Executive Carlos Tavares said the company was investing upwards of 10 million euros in the gearbox upgrade, without giving a precise figure. Turin is the historic home of Fiat which merged with France's PSA last year to form Stellantis. At full production, the Mirafiori and Metz facilities together will supply all relevant Stellantis manufacturing sites in Europe.

☆ Stellantis invests in Italian plant as part of switch to electric
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterWorkers install a flag with the logo of Stellantis, the world's fourth-largest automaker which starts trading in Milan and Paris after Fiat Chrysler and Peugeot maker PSA finalised their merger, at the main entrance of FCA Mirafiori plant in Turin, Italy, January 18, 2021. REUTERS/Massimo Pinca/File PhotoTURIN, Italy, Sept 20 (Reuters) - Stellantis (STLA.MI) signed an agreement with its partner Punch Powertrain to increase production in Italy of electrified dual-clutch transmissions (eDCT) for hybrid and plug-in hybrid electric vehicles, the carmaker said on Tuesday. The upgraded facility will be developed within Mirafiori, Stellantis' main plant in Turin, northern Italy, and it will complement the existing capacity of a plant in the French city of Metz, it added. The new Mirafiori e-Transmissions Assembly site is expected to start production in the second half of 2024. Register now for FREE unlimited access to Reuters.com RegisterAt full production, the Mirafiori and Metz facilities together will supply all relevant Stellantis manufacturing sites in Europe.

☆ Alonso will challenge Aston Martin - Krack
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

Alonso is set to make the move from Renault-owned Alpine to Aston Martin in 2023 as a replacement for four-times world champion Sebastian Vettel, who is retiring at the end of the current season. "We think having someone like Fernando is really, really important to make the next step as a team," Krack added. Aston Martin have had 11 top 10 finishes this season, with Vettel's sixth place at the Azerbaijan Grand Prix their best result. "You need to learn to manage champions, which we already did with Sebastian," Krack added. "I would not even say Sebastian is that difficult to manage if you are transparent, honest and straight.

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