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HONG KONG, Dec 5 (Reuters Breakingviews) - Why would the world’s largest battery maker want to sell shares when it’s already flush with liquidity? It ended June with 102 billion yuan ($14 billion) in net cash, Moody’s calculates. CATL has just started production at a new facility in Germany and is building a plant in Hungary, its first forays West. The company’s long-term loans have increased more than tenfold to more than 70 billion yuan and its long-term bonds by around a third to nearly 20 billion yuan since 2020, per Visible Alpha. But as Zeng’s electric dreams accelerate, he’ll want to be sure CATL’s own batteries are fully charged.

Persons: it’s, CATL, Robin Zeng, Breakingviews, Tesla, Antony Currie, Thomas Shum Organizations: Reuters, Hong, Thailand’s, Ford Motor, Technology, Thomson Locations: HONG KONG, Switzerland, CATL, Hong Kong, Shenzhen, China, Europe, Germany, Hungary, Fitch, Indonesia, Swiss

☆ Ford's US vehicle sales slip 0.5% in November
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsDec 4 (Reuters) - Ford Motor (F.N) posted a 0.5% drop in U.S. new vehicle sales for November on Monday, as the automaker worked to restart some of its key plants following a lengthy workers' strike that impacted vehicle production. Ford reached a deal with the United Auto Workers (UAW) union in late October, ending an over month-long strike the company said will cost it $1.7 billion. Ford's CFO John Lawler said in October restarting the plants would be complicated after the deal, which UAW workers ratified in November. Sales of Ford's electric vehicles jumped 43.2%, to 8,958 units from a year ago, the automaker said on Monday. The company reported total sales of 145,559 vehicles in November, compared with 146,364 units last year.

Persons: David, Dee, Delgado, Ford, John Lawler, Nathan Gomes, Pooja Desai Organizations: New York, REUTERS, Ford, United Auto Workers, UAW, Detroit Three, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

REUTERS/Mike Segar/File Photo Acquire Licensing RightsDec 1 (Reuters) - Retailers like Amazon.com and Foot Locker are signaling optimism for holiday season sales after stronger-than-expected figures during Black Friday and Cyber Monday, as heavy discounts lured budget-strained customers on the peak U.S. shopping days. Early estimates on holiday shopping have been encouraging to some investors after retailers sounded cautious notes in the lead-up to the season. "We know we're buying for wallet share with a value-conscious consumer this holiday season. Deep discounts have been a key feature heading into this year's holiday shopping season and holiday discounts could get even bigger in December, according to some retail executives. Kohl's (KSS.N) CEO Tom Kingsbury said last week the company was "coming out on holiday very aggressively in terms of promotions."

Persons: Mike Segar, Jimmy Lee, we've, Mary Dillon, Tom Kingsbury, Cos, Jason Benowitz, Deborah Sophia, Juby Babu, Pooja Desai Organizations: REUTERS, Adobe Analytics, National Retail Federation, Wealth Consulting, Amazon, Black, BofA, Walmart, Abercrombie, Fitch, American Eagle Outfitters, Roosevelt, Thomson Locations: Robbinsville , New Jersey, U.S, Bengaluru

The logo of a Tesla electric vehicle is placed on a car outside a dealership in Drogenbos, Belgium November 25, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsDec 1 (Reuters) - Tesla shares (TSLA.O) fell about 2% on Friday after the highly anticipated launch of its Cybertruck left analysts concerned about the electric vehicle's steep price tag and a longer wait for significant financial payoff. Musk has said Tesla was likely to reach a production rate of roughly 250,000 Cybertrucks a year in 2025. At $235.45, Tesla was set to lose about $15 billion in market valuation on Friday. "Cybertruck is more of a 'halo' product, in our view, to attract consumers to the brand for the mainstream vehicles Model 3 and Model Y," RBC Capital Markets analyst Tom Narayan said.

Persons: Yves Herman, Elon Musk, Wedbush, Bernstein, Musk, Tesla, Tesla's, Rivian, R1T, Tom Narayan, Samrhitha Arunasalam, Chavi Mehta, Devika Organizations: REUTERS, General Motors, Hummer, RBC Capital, Thomson Locations: Drogenbos, Belgium, Bengaluru

[1/3] Tesla's new Cybertruck is shown on display at a Tesla store in San Diego, California, U.S., November 20, 2023. Cybertruck, Tesla's first new model in nearly four years, is critical to its reputation as a maker of innovative vehicles. "We dug our own grave with Cybertruck," Musk said last month, warning that it would take a year to 18 months to make the vehicle a significant cash flow contributor. The billionaire has said Tesla was likely to reach a production rate of roughly 250,000 Cybertrucks a year in 2025. Tesla has faced "enormous challenges in reaching volume production" with the Cybertruck because of its new technology and design, Musk said.

Persons: Mike Blake, Elon Musk, Tesla's, Musk, Tesla, Eric Noble, Rivian, R1T, Rivian's R1T, Ford's, Seth Goldstein, Paul Waatti, Akash Sriram, Hyunjoo Jin, Sayantani Ghosh, Bill Berkrot Organizations: REUTERS, New York Times, Dodge, Ford, General Motors, Hummer, Morningstar, Thomson Locations: San Diego , California, U.S, Bengaluru, Hyunjoo, San Francisco

All eyes are now on the personal consumption expenditure (PCE) index- the Fed's preferred inflation gauge- for October, due at 8:30 a.m. ET, which is expected to show inflation eased in the previous month. The PCE index is expected to rise 0.1% on a monthly basis in October, moderating from a 0.4% increase in September. Data cloud company Snowflake (SNOW.N) added 8.2% after it forecast fourth-quarter product revenue above Street estimates on artificial intelligence driven demand. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Caitlin Ochs, Russ Mould, AJ Bell, Jefferies, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Wall, Federal Reserve, Dow e, Ford Motor, Inc, Thomson Locations: New York City, U.S, Chicago, Bengaluru

☆ Ford takes $1.7 billion profit hit from UAW strike
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +3 min

The automaker now expects adjusted earnings before interest and taxes (EBIT) of $10 billion to $10.5 billion for 2023. In July, it forecast adjusted EBIT of $11 billion to $12 billion. Ford said the new outlook included $1.6 billion in lost profits in the fourth quarter due to interruptions in production of high-margin trucks and SUVs. A month into the strikes, Ford said the company was "at the limit" of what it could spend on higher wages and benefits. The deal UAW leaders finally approved included a pay hike of at least 30% for full-time workers and more than double pay for others.

Persons: David, Dee, Delgado, Ford, Shawn Fain, walkouts, Bill Ford, Tesla, Nathan Gomes, Anil D'Silva Organizations: New York, REUTERS, Ford, GM, UAW, Canadian, Chrysler, EV, Thomson Locations: Manhattan , New York City, U.S, United States, Michigan, Bengaluru

☆ UAW launches bid to organize Tesla and 'entire non-union auto sector' in US
▼ + stars: | 2023-11-29 | by ( David Shepardson | ) www.reuters.com time to read: +6 min

Shawn Fain, president of the United Auto Workers (UAW) speaks as U.S. President Joe Biden (not pictured) joins striking members of the United Auto Workers (UAW) on the picket line outside GM's Willow Run Distribution Center, in Belleville, Wayne County, Michigan, U.S., September 26, 2023. "To all the auto workers out there working without the benefits of a union, now it's your turn," UAW President Shawn Fain said in a video posted on a website urging auto workers to sign electronic cards seeking union representation. The UAW for decades has unsuccessfully sought to organize auto factories operated by foreign automakers. The website asks Tesla workers to join, saying CEO "Elon Musk is the richest man in the world, with a net worth of $230 billion. The question is, will Tesla workers get their fair share?"

Persons: Shawn Fain, Joe Biden, Evelyn Hockstein, Fain, Elon Musk, Tesla, Harley Shaiken, David Shepardson, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three automakers, Tesla, Toyota, Volkswagen, Hyundai, Nissan, BMW, Mercedes, Benz, Detroit, General Motors, Ford Motor, New York Times, Honda, Subaru, Mazda, Volvo, University of California, White, Detroit Three, Lexus ES, Union, Thomson Locations: Belleville, Wayne County , Michigan, U.S, Detroit, America, Mississippi, Tennessee, Chattanooga , Tennessee, Berkeley, Georgetown , Kentucky, Washington

☆ UAW launches bid to organize Tesla and 'entire non-union auto sector'
▼ + stars: | 2023-11-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Shawn Fain, president of the United Auto Workers (UAW) speaks as U.S. President Joe Biden (not pictured) joins striking members of the United Auto Workers (UAW) on the picket line outside GM's Willow Run Distribution Center, in Belleville, Wayne County, Michigan, U.S., September 26, 2023. REUTERS/Evelyn Hockstein/File Photo Acquire Licensing RightsWASHINGTON, Nov 29 (Reuters) - The United Auto Workers union said on Wednesday it is launching a first-of-its-kind push to publicly organize the entire nonunion auto sector after winning new contracts with the Detroit Three automakers. "To all the auto workers out there working without the benefits of a union, now it's your turn," UAW President Shawn Fain said in a video posted on a website urging auto workers to sign electronic cards seeking union representation. "I want this type of contract for all auto workers and I have a feeling the UAW has a plan for that," he said at an event with Fain. The UAW for decades has unsuccessfully sought to organize auto factories operated by foreign automakers.

Persons: Shawn Fain, Joe Biden, Evelyn Hockstein, Fain, Tesla, Elon Musk, David Shepardson, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three automakers, Tesla, Toyota, Volkswagen, Hyundai, Nissan, BMW, Mercedes, Benz, Detroit, General Motors, Ford Motor, Detroit Three, Lexus ES, Union, Thomson Locations: Belleville, Wayne County , Michigan, U.S, Detroit, Mississippi, Tennessee, Chattanooga , Tennessee, Georgetown , Kentucky, Washington

LONDON, Nov 29 (Reuters) - The owners of fund administrator Alter Domus are pursuing the sale of a stake in the Luxembourg-based group that could value it at more than 4 billion euros ($4.4 billion), three people familiar with the matter told Reuters. Alter Domus offers back office services to private capital funds, such as fund accounting and reporting, and oversees around $2 trillion in client assets. Permira, Alter Domus, Goldman Sachs and Raymond James all declined to comment. Alter Domus shareholders were reported in June 2022 to have held initial discussions with potential buyers, but a deal never materialised as soaring borrowing costs and market volatility rocked the deals market. Earlier this year, Reuters reported that buyout group Thomas H. Lee Partners had clinched a deal to invest in U.S. fund administrator Standish Management.

Persons: Alter Domus, Goldman Sachs, Raymond James, Thomas H, Lee, Standish, Pablo Mayo Cerqueiro, Amy, Jo Crowley, Emma, Victoria Farr, Anousha Sakoui, Tomasz Janowski Organizations: Reuters, Goldman, Domus, Alter Domus, Lee Partners, Standish Management, Thomson Locations: Luxembourg, London, Frankfurt

[1/7] Hota's CEO Holly Sheng poses for a photo in their factory in Taichung, Taiwan November 13, 2023. The crates of shafts and gears at the factory contain some of the more than 20 million parts Hota produces each year. Hota's factory will be near Texas, home to Tesla's headquarters, and Mexico, where Tesla plans to build a gigafactory. Most Taiwanese manufacturers seeking a North American foothold choose Mexico over the United States due to costs, Sheng said. Similarly, Hota would never be able to completely replace its established Taiwan production base.

Persons: Holly Sheng, Ann Wang, Sheng, Hota, Tesla, Sarah Wu, Anne Marie Roantree, Sam Holmes Organizations: REUTERS, Rights, Mfg, Ford Motor, General Motors, Hota, Reuters, DETROIT, Hota's, Washington incentivises, Thomson Locations: Taichung, Taiwan, Rights TAICHUNG, Hota's, China, North America, New Mexico, Asia, United States, Santa Teresa , New Mexico, Mexico, Detroit, U.S, Texas, American, Washington, Arizona

☆ Citi bankers leave for Jefferies as municipal banking department in turmoil -Bloomberg News
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

General view of Jefferies Financial Group offices in Manhattan, New York City, U.S., December 8, 2021. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsNov 27 (Reuters) - A team of bankers focused on healthcare at Citigroup (C.N) has left for rival Jefferies Financial (JEF.N) after the firm's executives mulled closing the municipal banking department altogether, Bloomberg News reported on Monday. The group of about 10 bankers departing for Jefferies included managing directors Brian Carlstead, Ben Klemz and Katherine Meyers, the report said, citing people familiar with the matter. CEO Jane Fraser has been weighing whether to shutter the bank's municipal-bond trading and origination business. Citi's municipal offering business has been under scrutiny from Texas attorney general, who in January halted the bank's ability to underwrite most municipal bond offerings in Texas, saying Citi has discriminated against the firearms sector.

Persons: Eduardo Munoz, Brian Carlstead, Ben Klemz, Katherine Meyers, Jane Fraser, Pritam Biswas Organizations: Jefferies Financial, REUTERS, Citigroup, Jefferies, Bloomberg, Citi, Thomson Locations: Manhattan , New York City, U.S, Texas, Bengaluru

☆ Japan's Sumitomo Mitsui Financial Group CEO dies at 65
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

Sumitomo Mitsui Financial Group Inc (SMFG)'s new chief executive Jun Ohta attends a news conference in Tokyo, Japan, December 14, 2018. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Nov 27 (Reuters) - Sumitomo Mitsui Financial Group (SMFG) (8316.T) on Monday said group CEO Jun Ohta died on Nov. 25 aged 65 of pancreatic cancer. Japan's second-biggest lender after Mitsubishi UFJ Financial Group (8306.T) said it plans to announce a successor in the near future as soon as an appointment is made. Ohta joined The Sumitomo Bank, a predecessor of SMFG, in 1982 and rose to group CEO in April 2019. Ohta recently sought to expand SMFG's footprint in overseas markets through an alliance with U.S. investment bank Jefferies Financial Group (JEF.N).

Persons: Jun Ohta, Kim Kyung, Japan's, Toru Nakashima, Ohta, Mariko Katsumura, Rocky Swift, Kim Coghill, Christopher Cushing Organizations: Sumitomo Mitsui Financial Group Inc, REUTERS, Rights, Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial, Sumitomo Bank, Keidanren, Jefferies Financial, Thomson Locations: Tokyo, Japan, SMFG

☆ US durable goods orders fall on weakness in transportation equipment sector
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

Durable goods are seen on sale in a store in Los Angeles, California, U.S., March 24, 2017. Economists polled by Reuters had forecast durable goods orders would decline 3.1%. Durable goods orders rose 4.0% on a year-over-year basis in October. These so-called core capital goods orders were previously reported to have risen 0.5% in September. Business spending on equipment spending contracted in the third quarter.

Persons: Lucy Nicholson, Detroit's, Lucia Mutikani, Paul Simao Organizations: REUTERS, Rights, United Auto Workers, UAW, Data, Reuters, Manufacturing, General Motors, Ford, Chrysler, Civilian, Boeing, Machinery, Thomson Locations: Los Angeles , California, U.S, Department's

"In the more recent macro environment, consumer demand has been even more uneven and difficult to predict," Best Buy CEO Corie Barry said. U.S. holiday sales are expected to rise at its slowest pace in five years, according to data from the National Retail Federation, as Americans are likely to pull back on holiday shopping. REUTERS/Bing Guan/File Photo Acquire Licensing RightsLast week, industry bellwether Walmart (WMT.N) warned of cautious consumer spending as the holiday shopping season gets underway. Retail executives said higher interest rates, inflation and a resumption in student loan repayments will keep consumer wallets under pressure. Still, some investors expect holiday sales starting Black Friday to hold "some positive surprises."

Persons: Corie Barry, Bing Guan, Fitch, David Silverman, Marvin Ellison, Thomas Hayes, Rachel Wolff, Ananya Mariam Rajesh, Savyata Mishra, Granth Vanaik, Juby Babu, Shounak Dasgupta Organizations: National Retail Federation, REUTERS, Walmart, Retail, Apparel, Abercrombie, Fitch, American Eagle Outfitters, Insider Intelligence, Thomson Locations: United States, SoHo, New York City, U.S, Bengaluru

☆ GM’s driverless ride heads into a ditch
▼ + stars: | 2023-11-21 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

A self-driving GM Bolt EV is seen during a media event where Cruise, GM's autonomous car unit, showed off its self-driving cars in San Francisco, California, U.S. November 28, 2017. Automotive giant GM acquired Cruise in 2016, subsequently bringing on investors including SoftBank’s (9984.T) Vision Fund, Honda Motor (7267.T) and Microsoft (MSFT.O). The question is whether GM’s autonomous division has enough momentum to recover from that loss. CONTEXT NEWSDaniel Kan, co-founder and chief product officer of General Motors’ autonomous taxi business Cruise, resigned from the company on Nov. 20, Reuters reported. California’s Department of Motor Vehicles suspended Cruise’s autonomous license in the state on Oct. 24, saying that the company had “misrepresented” the safety of its technology.

Persons: Elijah Nouvelage, Tesla, that’s, Cruise’s, Cruise, Kyle Vogt, Daniel Kan –, Sam Altman, Elon Musk, Mary Barra hasn’t, SoftBank, Daniel Kan, John Foley, Sharon Lam Organizations: GM Bolt, REUTERS, Reuters, General Motors, Automotive, GM, Cruise, Vision Fund, Honda, Microsoft, Uber Technologies, Ford, U.S . National, Traffic, Administration, California’s Department of Motor Vehicles, Thomson Locations: San Francisco , California, U.S, San Francisco, California

Ford said it would restart construction of the factory near Marshall, Michigan, after being paused two months ago. Ford is pushing for the U.S. Treasury Department to approve lithium-iron, or LFP, batteries made at the Michigan factory to qualify for Inflation Reduction Act EV subsidies. Ford now plans to cut the Michigan battery plant's capacity to 20 gigawatt hours and reduce hiring to 1,700 jobs. Ford said in October that it would cut future electric vehicle investments overall by $12 billion compared to previous plans. The company has previously postponed construction of a battery factory in Kentucky and another in Turkey.

Persons: Ford, CATL, Mark Truby, Truby, Joe White, Anil D'Silva Organizations: DETROIT, CATL, United Auto Workers, U.S . Treasury Department, Ford, Blue, Battery Park Michigan, Michigan, Thomson Locations: Michigan, U.S, Marshall , Michigan, Kentucky, Turkey

Nov 20 (Reuters) - The United Auto Workers (UAW) said Monday that 64% of workers at the Detroit Three automakers voted to ratify new record contracts after a six-week targeted strike, as the union turns its attention to organizing foreign-owned and Tesla auto plants. The UAW for decades has unsuccessfully sought to organize auto factories operated by foreign automakers. In recent weeks, Hyundai Motor (005380.KS), Toyota Motor (7203.T) and Honda Motor (7267.T) have all announced they would hike U.S. factory wages after the UAW contract. Fain told Reuters last week that the UAW was getting expressions of interest in organizing from many Tesla (TSLA.O) workers. Automakers, looking to trim costs as they make the shift to electric vehicles, face higher hourly labor costs.

Persons: Shawn Fain, Fain, Joe Biden, Biden, ”, Jim Farley, Farley, Mary Barra, Gerald Johnson, Mark Stewart, David Shepardson, Chizu Nomiyama, Sriraj Kalluvila, Jonathan Oatis, Aurora Ellis Organizations: United Auto Workers, UAW, Detroit Three, Hyundai Motor, Toyota, Honda, Reuters, “, Tesla, Ford, General Motors, Thomson Locations: U.S, Washington

☆ Nikola CFO Anastasiya Pasterick to resign
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

The logo of Nikola is seen on a truck, during the press day preview of the Los Angeles Auto Show in Los Angeles, California, U.S. November 16, 2023. Pasterick was appointed to the role in March this year after the exit of Kim Brady, who was credited with taking Nikola public through a merger with a blank-check firm in 2020. The company expects to wrap up its search for a new CFO soon and Pasterick will assist with a transition through Dec. 1, it said. Key financial leaders will report to CEO Stephen Girsky in the interim. The news comes just months after Nikola named its fourth CEO in four years, with Girsky immediately taking over from Michael Lohscheller.

Persons: Nikola, David Swanson, NKLA.O, Anastasiya Pasterick, Pasterick, Kim Brady, Stephen Girsky, Girsky, Michael Lohscheller, Seher, Devika Organizations: Los Angeles Auto, REUTERS, Ford, Thomson Locations: Los Angeles , California, U.S, Bengaluru

Nov 20 (Reuters) - Rivian Automotive (RIVN.O) said on Monday that CEO RJ Scaringe would directly oversee all product development effective immediately as the electric-vehicle maker gears up to unveil and launch its smaller and cheaper vehicle family. Chief Product Development Officer Nick Kalayjian would move to the role of executive vice president, vehicle engineering and propulsion before transitioning to an advisory role, the company said. "It's a big year for product for Rivian, so RJ is doubling down on the introduction of our new technologies in 2024 and the design and development of R2," a spokesperson for Rivian told Reuters. The company's product reporting structure will include software, autonomy, design, vehicle, electrical, propulsion and programs categories, Rivian said. "I know that (Scaringe) spending more time working with our product teams will create significant value for all of us and our shareholders," Kalayjian, who joined Rivian in 2020, said in another internal email seen by Reuters.

Persons: RJ Scaringe, Nick Kalayjian, Rivian, Nick, Scaringe, Tesla, Elon Musk, Kalayjian, Abhirup Roy, Bhanvi, Shilpi Majumdar, Bill Berkrot Organizations: Rivian, RJ, Reuters, General Motors, Ford, Thomson Locations: Rivian, San Francisco, Bengaluru

☆ Explainer: GM-owned Cruise's wrong turn could slow robotaxi push
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +3 min

Robotaxis are autonomous self-driving cabs which require no human interaction to operate the vehicle. When did driverless cabs become a reality? Cruise followed with its first driverless ride service last year in San Francisco, and slowly expanded to include Phoenix, Arizona, and Austin, Texas. The use of driverless cabs also raises the prospect of job losses and could attract pushback from unions. Regulatory hurdles facing robotaxisCommercializing fully autonomous vehicles, especially robotaxis, has been harder than expected with tough regulations, complicated technology and heavy investments forcing some to cut jobs.

Persons: Elijah Nouvelage, Cruise, Here's, Waymo, Nathan Gomes, Devika Organizations: San, GM Bolt, REUTERS, General Motors, Companies, Technologies, Amazon.com, Ford, Volkswagen, Argo, Thomson Locations: San Francisco, San Francisco , California, U.S, United States, Phoenix , Arizona, Austin , Texas, Bengaluru

☆ 'Dupes' clothing, perfume craze lures holiday shoppers as major brands fret
▼ + stars: | 2023-11-20 | by ( Katherine Masters | ) www.reuters.com time to read: +7 min

Hashtag searches for dupes of major brands - including Skims underwear and Deckers' (DECK.N) Ugg boots - have been viewed millions of times on TikTok. Graphic shows pictures of four original products and their original prices under named brands compared with the prices of their 'dupe' counterparts. Newer technologies like the Google Lens app allow people to take photos of items they like and find similar products for sale. In other cases, dupe sellers opt to replicate the look of higher-priced originals with cheaper materials to maximize profit. However, experts say dupe sellers have grown increasingly skilled at avoiding brand logos and other design features that could infringe existing patents or copyrights.

Persons: Lauren Maginness, Shannon Stapleton, Maginness, Estee, Tom Ford, Dupes, “, ”, Penny Pincher, Leslie Ghize, Doneger Tobe, Calvin McDonald, Ian Taplin, Juozas Kaziukenas, Kaziukenas, Maria Boschetti, Mike Scheschuk, Birkenstock, Katherine Masters, Dorothy Kam, Vanessa O'Connell, Rod Nickel, Matthew Lewis Organizations: REUTERS, Abercrombie, Fitch, Scout, Walmart, Department, Nordstrom, Circana Inc, COMMERCE, Wake Forest University, eBay, Google, HK, Amazon, New, Thomson Locations: New York City, U.S, Hong Kong, TikTok, Los Angeles, Zara, Italy, New York

☆ Nikola CFO to resign less than a year after joining
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

The logo of Nikola is seen on a truck, during the press day preview of the Los Angeles Auto Show in Los Angeles, California, U.S. November 16, 2023. REUTERS/David Swanson Acquire Licensing RightsNov 17 (Reuters) - Electric-truck maker Nikola (NKLA.O) said on Friday Chief Financial Officer Anastasiya Pasterick would resign to "pursue other opportunities" less than a year after joining the loss-making company. Pasterick was appointed to the role in March this year after the exit of Kim Brady, who was credited with taking Nikola public through a merger with a blank-check firm in 2020. The company expects to wrap up its search for a new CFO soon and Pasterick will assist with a transition through Dec. 1, it said. The news comes just months after Nikola named its fourth CEO in four years, with Girsky immediately taking over from Michael Lohscheller.

☆ Hyundai, Kia see strong demand for EVs, despite rivals' concerns
▼ + stars: | 2023-11-17 | by ( Abhirup Roy | ) www.reuters.com time to read: +4 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLOS ANGELES, Nov 17 (Reuters) - Hyundai Motor (005380.KS) and Kia (000270.KS) see strong U.S. demand for electric vehicles (EVs), senior executives at the South Korean automakers told Reuters ahead of the Los Angeles Auto Show. The comments run against industry fears that inflation and higher interest rates will undermine the boom in EV sales. Inflation and high interest rates have raised the costs of buying a car. The cuts helped drive EV sales in the third quarter up 50% from a year earlier to a record of more than 300,000 vehicles. Reporting by Abhirup Roy in Los Angeles; Editing by Peter Henderson and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Jose Munoz, Hyundai's, Munoz, Steven Center, we'll, Elon Musk, Spencer Imel, Langston, Subaru's, Atsushi Osaki, Abhirup Roy, Peter Henderson, Matthew Lewis Organizations: Hyundai Kona, New York, REUTERS, Hyundai, Kia, South Korean, Los Angeles Auto, Tesla, Ford Motor, EV, Kia America, Cox Automotive, General Motors, Ford, Langston Co, Reuters, Thomson Locations: Manhattan , New York City, U.S, KS, Los Angeles, Savannah ( Georgia, United States, Swedish

☆ Stellantis workers vote to ratify new labor contract
▼ + stars: | 2023-11-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

People attend a Stellantis presentation at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsWASHINGTON, Nov 17 - United Auto Workers (UAW) members at Chrysler parent Stellantis NV (STLAM.MI) have voted to ratify tentative record-setting labor deal, the union's vote tracker showed on Friday. The contract also hikes wages of current temporary workers by 150% by 2028 and will make them permanent employees. Workers on Thursday at General Motors (GM.N) voted to approve the deal, with about 55% of nearly 36,000 members in favor. Another 2,500 Stellantis U.S. salaried workers are unionized and are not being offered the current buyout.

Persons: David, Dee, Delgado, Stellantis, David Shepardson, Nathan Gomes, Arun Koyyur, Nick Zieminski, Jonathan Oatis Organizations: New York, REUTERS, Rights, United Auto Workers, UAW, Chrysler, Stellantis, Detroit Three, Workers, General Motors, Ford, Thomson Locations: Manhattan , New York City, U.S, Washington, Bengaluru

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