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The Vinfast VF6 all-electric vehicle is on display at the 2022 Los Angeles Auto Show on Nov. 18, 2022 in Los Angeles, California. Vietnamese automaker VinFast, for a short time the third-most valuable car company in the world, has a big problem: It just can't sell enough cars. Designed specifically for the Vietnamese and other Asian markets, the VF3 is priced for "mass appeal," according to VinFast. VinFast's future matters for Vietnam, both because its ambitions dovetail with the Communist Party's own goals, and because of parent company Vingroup's large role in the Vietnamese economy. "We will never let VinFast go," he told Vingroup shareholders at their annual general meeting in April, according to state media.
Persons: Le Thi, VinFast, It's, Vingroup, Pham Nhat Vuong, Tu Le Organizations: Angeles Auto, Nasdaq, General Motors Corp, Ford Motor Co, Communist, Vingroup's, U.S . Securities, Exchange Commission, Sino Locations: Los Angeles , California, Le, U.S, VinFast, North Carolina, California, Vietnam, Ukraine, Asia
You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Advertisement"These people treat creativity like a problem to be solved," he continued. "All these things shouldn't be there in the first place, but all these things are work that some people have to do. "I think we need to have an honest public debate about the advantages, but also the pitfalls and dangers of AI technology," Astray said.
Persons: , Mira Murati, Jeffrey Blackburn, ChatGPT, Murati, Ed Zitron, Zitron, Boris Eldagsen, OpenAI's DALL, Eldagsen, FABRIZIO BENSCH, Miles, doesn't, OpenAI, Sam Altman Organizations: Service, Business, Dartmouth, OpenAI, Sony, Reuters Locations: OpenAI
Adam Jonas, a well-known auto analyst at the investment bank, said Ford remains his top pick in the auto sector. Now, Jonas said Ford could take the spotlight as the focus within the sector shifts from electric vehicle investment to capital discipline. It comes at a tumultuous time for automakers as they grapple with softer-than-anticipated electric vehicle demand. Given an ongoing "unwind" in the electric vehicle story, he said Ford has the potential to flip the stock performance. Jonas' $17 price target for Ford implies the Detroit-based company's stock can rally around 39% over the next 12 months.
Persons: Morgan Stanley, Adam Jonas, Ford, Jonas, outperformance Organizations: Ford, General Motors, GM Locations: Detroit
A retirement savings crisis is looming for people who have 401(k) plans and other retirement balances woefully short of what they will need to live on. But some workers — called "super savers" — are managing to successfully grow their retirement nest eggs. Super savers are workers who are putting away more than 10% of their salaries toward their retirement plans, according to new research from nonprofit Transamerica Institute and its division Transamerica Center for Retirement Studies. The rest, 44%, have reached super saver status — with 15% of workers putting 11% to 15% of their annual pay toward retirement, Transamerica said. Notably, the youngest cohort — Generation Z — has the most super savers, with 53%, followed by millennials and baby boomers, each with 44%, and Generation X, with 40%.
Persons: , Transamerica, millennials, Ted Jenkin, Jenkin Organizations: Transamerica Institute, Transamerica, Retirement Studies, CNBC, Finance, Social Security Workers Locations: Atlanta
Auto dealer outage drags on
  + stars: | 2024-06-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAuto dealer outage drags onCNBC’s Eamon Javers with Proton’s Brad Holton and auto dealer John Hiester, join 'Power Lunch' to discuss cyber threats to automakers and dealers.
Persons: Eamon Javers, Brad Holton, John Hiester Organizations: Auto
But retirees and full-time caregivers have been unable to take advantage of a strong job market. Now, consumers are largely left with the same buying power they had four years ago rather than having seen real income gains over that time that would have helped bolster their financial picture. The outlook for the job market also varies by race with the unemployment rate at 5.6% for Black workers and 5% for Hispanic workers. Food prices have risen around 25% over the past four years while Biden was in office. The rise in food prices has disproportionately impacted lower-income households, which spend around a third of their discretionary income on food, according to a 2022 Agriculture Department survey.
Persons: Joseph Prezioso, Joe Biden, Donald Trump, Ronald Reagan, Julia Pollak, Pollak, Joseph Davis, Biden, MAGA, Julian Assange, Trump, Davis Organizations: Gloucester High School, AFP, Getty, Homeowners, ZipRecruiter, NBC, Consumer, Vanguard, NBC News, Food, Bureau of Labor statistics, Agriculture, Federal Reserve, Walmart, Aldi, Target, Gas Locations: Gloucester , Massachusetts, U.S, Arizona, Nebraska , Colorado
Rival United Airlines — second to Delta in net profit margins — is circling. Delta plans to open Delta One lounges in Boston and Los Angeles later this year, and is studying airports where it could open others. Like other airlines, Delta accepted billions in federal aid to weather the pandemic. Luxury air travel and the United States didn't go together for many years — and might not still, if you ask well-heeled globetrotters. And at Delta and other airlines, many of the perks for luxury flyers come through lounges.
Persons: Benoit Tessier, Ed Bastian's, Bastian, Ed Bastian, John F, Raymond James, Savanthi Syth, Andrew Nocella, Patrick Quayle, Quayle, Richard Anderson, Anderson, Delta, Barack Obama's, They're, Shai Weiss, Claude Roussel, Joe Biden, United States didn't, Henry Harteveldt, Scott Kirby Organizations: Airbus, Delta Air Lines, Reuters Delta Air Lines, Transportation Department, Rival United Airlines —, CNBC, Delta Air Lines Inc, Bloomberg, Getty, American Express, Kennedy International Airport, United, Boeing, U.S, Labor, Southwest Airlines, U.S ., JetBlue Airways, Delta, Corporate, Northwest Airlines, Endeavor, Virgin, American, Sky Club, New, LaGuardia, Etihad Airways, Singapore Airlines, Atmosphere Research, Airlines, Sky Clubs, Los Angeles International Airport, JFK, American Airlines, JPMorgan, Consumer Electronics, Starbucks Locations: punctuality, New York, Delta, Chicago, Boston, Los Angeles, Dubrovnik, Croatia, Amman, Jordan, Cape Town , South Africa, Atlanta, U.S, Queens, N.Y, United, Tokyo, York, United States, Las Vegas
"It was harder than the initial assault," Kostial said of being stalked. The Aetna NDA only silenced her about the terms of her settlement, not the sexual assault. Kostial has discussed her situation with Vincent White, a New York city-based lawyer who specializes in workplace NDAs and advises signatories on the risks associated with breaking them. Kostial is fearful that if they wed, her wife's finances could be affected if either SAP or Aetna pursues her for breaking her NDA. AdvertisementWhenever she's seized by anxiety, Kostial reminds herself of how hard she's fought to move past the sexual assault and why she's coming forward.
Persons: , Ashley Kostial, she'd, She'd, Kostial, abrasions, Aetna, Brad Schleier, Schleier, hadn't, NDAs, Taylor Glascock, Kira, She's, Nina Wasow, Jodi Short, Evan Starr, Morton , Illinois Taylor Glascock, galling, Vincent White, White, Zelda Perkins, Harvey Weinstein's, Julie Macfarlane, she's, Hey Ashley —, he'd Organizations: Service, SAP, Marriott, Business, Ariba, Aetna, Aetna NDA, BI, University of California College of the, San, National Labor Relations Board, University of, Plano Police Department Locations: Plano , Texas, Plano, Phoenix, spokespeople, Aetna, Berkeley , California, California, New York, New, Maryland , New Jersey, New Mexico, But Arizona, San Francisco, NDAs, Morton ,, Oakland, Texas, Arizona, Illinois
“A high risk of famine persists across the whole of the Gaza Strip as long as conflict continues and humanitarian access is restricted,” the report said. The Rafah crossing – a key transitway for humanitarian aid to Gaza – has been closed since early May, and only a handful of other land crossings remain open. Humanitarian aid workers continue to face tremendous risks to try to distribute the desperately needed aid to Gaza. “The humanitarian space in the Gaza Strip continues to shrink and the ability to safely deliver assistance to populations is dwindling,” the report said. “The humanitarian situation is deteriorating rapidly, and the specter of famine continues to hang over Gaza,” Phillips-Barrasso told CNN.
Persons: , Gaza –, Netanyahu, Joe Biden, Israel, Matthew Miller, dory, it’s, , Cindy McCain, “ There’s, It’s, Kate Phillips, ” Phillips, Barrasso, Philippe Lazzarini Organizations: CNN, Hamas, Integrated, IPC, , Food, Mercy Corps, , UNRWA Locations: Gaza, Israel, Rafah, United States
Morsa Images | Digitalvision | Getty ImagesIt's no secret that many college graduates are struggling with student loan debt. Nearly 1 in 5 student loan borrowers in the U.S. — or 19% — say they are hiding their loan balance from their partner, according to a new report from NerdWallet . Shame, guilt, depression and anxiety swirling the topic of student debt can lead borrowers to keep the details of their loans secret, therapists say. If your significant other doesn't also have outstanding student debt, the topic can feel especially taboo, he added. Student debt can make it harder to buy a house, start a family and save for the future, research shows.
Persons: Traci Williams, Clay Cockrell, Cockrell, Kate Wood, Wood, you've Organizations: Getty, Harris Poll, Finance Locations: U.S, NerdWallet, East Point , Georgia, New York
Moreover, the partnership will enable Rivian to cut operating costs by leveraging volumes of supplies including chips and components, he said. It will also help Rivian, known for its flagship R1S SUVs and R1T pickups, turn cashflow positive. Volkswagen will immediately invest $1 billion in Rivian through a note that will convert to stock on Dec. 1, subject to regulatory approvals. The German automaker will also invest $2 billion in Rivian stock - $1 billion each in 2025 and 2026 - subject to the startup hitting certain milestones, and provide a $1 billion loan in 2026. Rivian stock has halved so far this year.
Persons: Stephane Mahe, RJ Scaringe, Vitaly Golomb, Herbert Diess, Diess, Rivian, Scaringe, Sam Fiorani, Mavka Capital's Golomb, VW's Cariad, Abhirup Roy, Ben Klayman, Noel Randewich, Christina Amann, Harshita Varghese, Sayantani Ghosh, Rod Nickel, Matthew Lewis, Leslie Adler Organizations: Volkswagen, REUTERS, Reuters, JV, Audi, Porsche, Lamborghini, Bentley, Volkswagen Group, Mavka, VW, AutoForecast Solutions, Traders, S3 Partners, Rivian, Thomson Locations: Reze, Nantes, France, Europe, Asia, North America, U.S, German, South Carolina, San Francisco, Detroit, Oakland , California, Berlin, Bengaluru
The U.S. surgeon general, Dr. Vivek Murthy, on Tuesday declared gun violence in America a public health crisis, recommending an array of preventive measures that he compared to past campaigns against smoking and traffic safety. The step follows years of calls by health officials to view firearm deaths through the lens of health rather than politics. The National Rifle Association has vigorously opposed this framing and promoted legislation that effectively quashed federal funding for research into gun violence for a quarter-century. also unsuccessfully lobbied against Dr. Murthy’s nomination as surgeon general by Barack Obama in 2014, calling him “a serious threat to the rights of gun owners.”Dr. Murthy’s 32-page advisory calls for an increase in funding for firearm violence prevention research; advises health workers to discuss firearm storage with patients during routine medical visits; and recommends safe storage laws, universal background checks, “red flag” laws and an assault weapons ban, among other measures.
Persons: Vivek Murthy, Murthy’s, Barack Obama, ” Dr Organizations: National Rifle Association Locations: U.S, America
She founded the e-commerce retailer Wildberries in 2004 while on maternity leave from her job as an English teacher. A Wildberries delivery point in St. Petersburg. Bakalchuk told Bloomberg in 2018 that she used to make deliveries herself in the company's early days. Bakalchuk owns 99% of the company, and her husband owns 1%. In 2020, The Bell reported Vladislav Bakalchuk earned $5 million from selling stock in an internet provider, raising questions about Bakalchuk's status as a self-made billionaire.
Persons: Artem Priakhin, Wildberries, Otto, Bakalchuk, Sergei Anufriev, Bell, Vladislav Bakalchuk Organizations: Wildberries, Getty, Bloomberg Locations: St . Petersburg, German, Moscow, Wildberries
Cars sit on a Chevrolet dealership's lot on June 20, 2024 in Chicago, Illinois. DETROIT – U.S. auto sales through the first half of the year are expected to be up by 2.9% compared to a year ago, but there are concerns that the auto industry may not be able to continue the momentum during the last six months of the year. Vehicle inventory levels are growing, incentives are increasing and there's growing uncertainty during the second half of the year surrounding the economy, interest rates and U.S. presidential election, according to Cox Automotive. The auto data and research firm expects sales growth to slow during the second half of the year to end 2024 at 15.7 million units, roughly a 1.3% increase compared to 2023. And, unlike in recent years, growth is coming from commercial sales compared to more profitable sales to consumers.
Persons: we're, Cox, Jonathan Smoke Organizations: CDK, DETROIT, Cox Automotive Locations: Chicago , Illinois, United States, Canada, DETROIT – U.S
At large events all over the world, the scenes of extreme heat stress are starting to look familiar. And lines of the faithful — whether they seek religion, music, ballot boxes or sport — sweating under slivers of shade. And in many ways, that heavy toll was just the latest sign that crowd control and heat waves fueled by climate change are on a dangerous collision course. During India’s recent election, dozens of poll workers died on the job. Even as heat kills more people today than any other extreme weather event, there is still a dangerous cultural lag.
Organizations: Boy Scouts Locations: Saudi Arabia, South Korea, Australia, Europe, North America
A systems outage caused by a cybersecurity incident has paralyzed nearly 15,000 car dealerships across North America since last Wednesday. In an automated voice message to clients, CDK said it is making “significant progress” in restoring its core application. Auto dealerships use CDK’s software to manage everything from scheduling to records, said Saturday it has begun restoring its software. Other services, such as state inspections, repairs and parts deliveries, have come to a standstill in some parts of the country. CDK has said it is working to investigate the shutdown after two cyber incidents brought down its systems.
Persons: CDK, CNN’s Eva Rothenberg Organizations: New, New York CNN, CDK, Auto, Bloomberg Locations: New York, North America, Eastern European
An app that helps people find relief from the heat. A tiny insurance policy that pays working women when temperatures soar. Local laws that help outdoor workers get water and shade on sweltering days. As dangerous heat becomes impossible to ignore, an array of practical innovations are emerging around the world to protect people most vulnerable to its hazards. Instead, they’re based on ideas that are practical and already known to work.
Persons: they’re Organizations: World Meteorological Locations: United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAllstate CEO Tom Wilson: Accident reduction from self-driving cars has not yet impacted revenueTom Wilson, Allstate CEO, joins CNBC's 'Squawk Box' to discuss inflation, auto and home insurance, and more.
Persons: Tom Wilson Organizations: Allstate
Joanna Bailey, a family physician and obesity specialist, doesn’t want to tell her patients that they can’t take Wegovy, but she has gotten used to it. Around a quarter of the people she sees in her small clinic in Wyoming County would benefit from the weight-loss medications known as GLP-1s, which also include Ozempic, Zepbound and Mounjaro, she says. The drugs have helped some of them lose 15 to 20 percent of their weight. But most people in the area she serves don’t have insurance that covers the cost, and virtually no one can afford sticker prices of $1,000 to $1,400 a month. “Even my richest patients can’t afford it,” Dr. Bailey said.
Persons: Joanna Bailey, ” Dr, Bailey Organizations: West Virginia —, West Virginia’s Public Employees Insurance Agency Locations: Wyoming, West Virginia
In the 1960s, there were six people of working age for every retired person, according to the World Economic Forum. “What you’re seeing is increased spending on programs like Medicare and Social Security as the baby boomers are aging into those programs. And then of course, fewer workers relative to the number of people who are receiving Social Security and Medicare benefits,” said Dahl. Social Security payments still provide about 90% of income for more than a quarter of older adults in the United States, according to Social Security Agency surveys. But without intervention, the Social Security trust fund will be depleted by the mid-2030s, meaning that only a portion of retirees’ expected benefits will be paid out.
Persons: it’s, Louis, Simona Paravani, , Elon Musk, Kimberly, Clark, Mark Schneider, he’s, Emmanuel Macron, Donald Trump, Molly Dahl, Dahl, Eric Schmidt, ” Schmidt, Goldman Sachs, Stefano Scarpetta, Li Qiang, Juliana Liu, Joyce Jiang, Li, China’s, Xi Jinping, Biden, Max Prosecutors, haven’t, Max, Read Organizations: London CNN, Organisation for Economic Co, Development, Economic, Federal Reserve Bank of St, BlackRock, Disease Control, Congressional Budget Office, CBO, Social Security, Social, Social Security Agency, Google, Summit, Federal Reserve Bank of Richmond, OECD, ” Companies, West Chinese, CNN, EV, Prosecutors, Boeing, Max, US Justice Department, Alaska Air, Justice Department, Federal Aviation Administration Locations: Chad, Niger, Somalia, Samoa, Tonga, Tajikistan, United States, London, China, Beijing, Dalian, Canada, Beijing’s “
Finland has a history of being the happiest country in the world, and it's among the most gender-equal, too. Many Nordic countries have generous paid leave policies, government-subsidized child care, free college (which can level access to high-paying jobs), pay gap reporting requirements and pay transparency policies. At Framery, a Finnish manufacturing company with roughly 400 employees, the difference between what men and women get paid is roughly 1%. Anni Hallila, Framery's head of people and culture, explains three strategies that helped them effectively close their business's gender pay gap. Salary reviews happen twice a yearFramery's compensation team does a pay audit for their workforce twice a year, Hallila says.
Persons: Anni Hallila, Hallila, Framery Organizations: Nordic Locations: Finland, Framery, Finnish
Americans' workplace retirement account balances are growing — but they're still lower than what people say they need to be on track for retirement, new data reveals. The median account balance in the U.S. is now $35,286, according to Vanguard's annual How America Saves report, which tracked the performance of 401(k)s and similar plans in 2023. Some of the lower balance totals have to do with age, too: People often make and save less money earlier in their careers. "People tend to accelerate retirement contributions as they get older because they tend to earn more, but also because they're getting closer to retirement age," says Michelle Gessner, a certified financial planner in Houston. Compound interest is interest that's continually earned on both the principal amount and any accumulated interest, leading to exponential growth over time.
Persons: That's, they're, Michelle Gessner, that's Organizations: America, Northwestern Mutual Locations: U.S, Houston
Doctors told CNN they are being forced to turn away parents begging for baby milk, unable to even triage young patients with chronic illnesses compounded by severe hunger. Dozens of other Gazans crowd together to access water as aid workers nearby distribute thick, steaming red soup from large saucepans. It is God’s decision, but it is caused by people,” her father, Ahmed Maqat, told CNN, after she died on Saturday. But health workers told CNN there are few alternatives, with shortages of lactose free or soya milk for infants. Children line up for food aid in Jabalya refugee camp, the northern Gaza, on June 13.
Persons: CNN — Younis, Ghanima Juma’a, Khan Younis, , Israel ramped, , Doctors, Israel, Younis, Hassan Kalash, CNN Israel, General António Guterres, Benjamin Netanyahu, Court’s, Omar Al Qatta, Israel —, Razan, Um Razan Mheitem, Kamal Adwan, Amal, Samaher, Ahmed Maqat, Maqat, Deir Al Balah, Ashraf Amra, Ahmed Kahlot, OCHA, Omar Al, Ismail Madi, Ahmad, Joe Biden … Organizations: CNN, Nasser Hospital, UN, Integrated, Palestine, UNRWA, Programme, Getty, Humanitarian Affairs, Aqsa Martyrs Hospital, Kamal, Kamal Adwan Hospital, Ministry of Health Locations: Nasser, Gaza, Khan, Rafah, Israel, Asda’a —, Gaza’s, Israeli, Jabalya, AFP, Al, Aqsa, Deir Al, Anadolu, soya
They were descendants of Koreans who ​moved to Northeast China​, fleeing Japan’s brutal colonial rule ​in the early 20th century. In a twist of history,​ many like them have come to South Korea in recent decades,​ looking for better-paying jobs in their forebears’ homeland, ​now one of the world’s richest countries. The disaster drew new attention to the stark ​realities faced here by migrant workers, from China and from elsewhere. South Korea, with its shrinking population, has been rapidly increasing the number of workers it accepts from abroad to ​toil at the lowest rung of ​its labor market. Foreign workers are nearly three times as likely as the average South Korean to die in a work-related accident, according to a recent study.
Persons: Locations: China, South Korea, Hwaseong, Seoul, Koreans
Watch CNBC's full interview with Allstate CEO Tom Wilson
  + stars: | 2024-06-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Allstate CEO Tom WilsonAllstate CEO Tom Wilson joins CNBC's 'Squawk Box' to discuss inflation, auto and home insurance, and more.
Persons: Tom Wilson, CNBC's Organizations: Allstate
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