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☆ Here's how the project to develop one tractor might revolutionize the farming and automotive industries in the UK
▼ + stars: | 2024-03-26 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

A special cover is used on a farm's waste collection areas (known as slurry lagoons) to catch methane emissions that would otherwise escape into the air. CNH IndustrialThe potential of the methane tractor extends far beyond the farm. Industry leaders pulled together to work on the projectThe success of the methane tractor project is testament to the power of collaboration. Beyond the agricultural sector, the methane tractor project holds promise for transforming the entire automotive sector. By demonstrating the viability of alternative fuel technologies in heavy-duty vehicles, this initiative paves the way for a more sustainable future in transportation.

Persons: Andrew Damant, CNH, Derek Neilson, Eminox, David Phillips, Neilson Organizations: UK's Department for Business and Trade, Advanced Propulsion Centre, Eminox, Mobile, Automotive Transformation Fund, Advanced, Industry, Insider Studios, UK Department for Business, Trade Locations: Cornwall, Europe, CNH, New Holland

☆ Investing in Space: Pentagon's satellite constellation awards near $10 billion
▼ + stars: | 2024-01-18 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +11 min

Now we're pushing $10 billion in awards, to build more than 400 satellites, with seven companies in the mix. York Space has been tapped to make more satellites than anyone but Northrop Grumman, to the tune of $1.3 billion. – The Wall Street Journal / Deere Hyperspectral satellite imagery company Pixxel opens Bengaluru facility, a 30,000-square-foot facility in India for satellite manufacturing. – KeyBancBoldly goingKurt Vogel named as NASA associate administrator for the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency. – NASAfor the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency.

Persons: Yasin Ozturk, CNBC's Michael Sheetz, – Northrop, Lockheed Martin, L3Harris, Northrop Grumman, you've, Momentus, John Plumb, –, Artemis, – SpacePolicyOnline, Tom Mueller's, Redwire, KeyBanc, Kurt Vogel, Chiara Pedersoli, Marco Fuchs, – OHB, – OHB Frank Di Pentino Organizations: SpaceX, . Space Force, Cape Canaveral Space Force, Anadolu Agency, Getty, Space Force, Space Development Agency, – Northrop Grumman, Lockheed, York, Space, Lab, Sierra Space, CNBC, CNBC NASA, Boeing, NASA, NASA ESA, Science, Technology, Industry, ISS, – NASA SpaceX, Deere, Street, Deere Deere, KKR Locations: Cape, Florida, United States, U.S, Brazil, Bengaluru, India

☆ John Deere, Meet Elon Musk: SpaceX Satellites to Link Farm Giant’s Equipment
▼ + stars: | 2024-01-15 | by ( Bob Tita | Micah Maidenberg | ) www.wsj.com time to read: 1 min

Deere has been investing billions of dollars in building out computer-assisted services for farmers. Photo: Alan Look/Zuma PressDeere said it would tap SpaceX’s satellite fleet to propel the tractor maker’s digital farming push and help automate planting and harvesting in remote locations. The world’s largest farm machinery manufacturer signed a deal with SpaceX’s Starlink business to connect tractors, seed planters, crop sprayers and other equipment in areas that lack adequate internet service, allowing them to use Deere’s digital products.

Persons: Deere, Alan Look, Zuma Press Deere, SpaceX’s Organizations: Zuma Press

☆ Why U.S. ports are getting a $21 billion upgrade
▼ + stars: | 2023-12-17 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +3 min

U.S. ports are receiving multimillion dollar grants to upgrade cargo handling infrastructure. The grants are part of the Biden administration's $21 billion commitment to modernize port infrastructure in the U.S.Midsize port cities such as Baltimore are among the 2023 grant recipients. In November, the Port of Baltimore received a $47 million grant to kick-start an offshore wind manufacturing hub, among other improvements. More than $653 million in Port Infrastructure Development Program grants were awarded to U.S. ports in 2023 by the U.S. Department of Transportation, Maritime Administration. Ports America formed a public-private partnership with the state of Maryland to manage equipment and operations in sections of the Port of Baltimore.

Persons: John Deere, Walter Kemmsies Organizations: Biden, BMW, Maryland Port Administration, Port Infrastructure Development Program, U.S . Department of Transportation, Maritime Administration, Tacoma Husky, North, Environmental Protection Agency, U.S . Department of Defense, Kemmsies, Port Authority of, CNBC, Midwest ., Port Locations: U.S, Baltimore, Port, Washington, Long Beach , California, Port Authority of Georgia, Savannah, Maryland, Port of Baltimore, Midwest

☆ CNH launches $1 bln buyback, NYSE single listing plan effective from Jan 2
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

MILAN, Nov 7 (Reuters) - Farm and construction equipment maker CNH Industrial (CNHI.MI) said on Tuesday its plan to abandon the Milan stock market and retain a single listing for its shares on the New York Stock Exchange would be effective from Jan. 2 next year. The Italian-American group, whose shares are currently traded both on the NYSE and in Milan, earlier this year announced a plan to abandon its Italian listing. CNH said in a statement on Tuesday that the Milan Stock Exchange had approved an application it filed to delist its ordinary shares from Milan bourse and had set the Jan. 2 date for when a NYSE single listing will be effective. As part of its New York single-listing plan, CNH announced a new share buyback program worth up to $1 billion. Since it spun-off its truck and bus unit in January 2022, now separately listed as Iveco Group (IVG.MI), the majority of CNH stock trading has progressively shifted to NYSE, the company said.

Persons: CNH, Goldman Sachs, Giulio Piovaccari, Alvise Armellini, Keith Weir Organizations: MILAN, CNH, New York Stock Exchange, NYSE, Milan Stock Exchange, Milan bourse, Euronext Milan, Iveco Group, Milan, BNP, Thomson Locations: Milan, American, South America, York, Europe

Nov 7 (Reuters) - Agricultural and construction machinery maker CNH Industrial on Tuesday lowered its 2023 revenue forecast, citing a softening for its farm machinery, predominantly in South America, sending its shares plummeting. A Milan-based trader told Reuters European funds were also selling the stock ahead of CNH's delisting from the Milan bourse. The Italian-American company lowered its net revenue forecast from industrial activities, which accounts for the majority of CNH's revenue, of between 3-6% this year, down from a previous forecast of 8-11%. CNH, which houses brands such as Case IH and New Holland, reported third-quarter net sales from industrial activities down 1% year on year at $5.33 billion. CNH, which also announced a new share buyback programme as part of plans to achieve single listing on the New York Stock Exchange, reported quarterly adjusted operating profit from industrial activities of $657 million, down from $670 million a year earlier.

Persons: Scott Wine, Alessandro Parodi, Giancarlo Navach, Bianca Flowers, Kirsten Donovan, David Goodman, David Evans Organizations: Reuters, Milan bourse, Deere, Co, Caterpillar Inc, IH, South, New York Stock Exchange, Thomson Locations: South America, Milan, New York, American, New Holland

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsOct 23 (Reuters) - Jason Andringa’s company was part of the stampede of U.S. businesses that built factories in China. But the mood of Vermeer and many other global producers has turned sour on China. Rather than expand in China, these companies are directing new investments to other low-cost countries such as Vietnam and India. Ryan Gunnigle, CEO of Atlanta-based toy maker Kids2, said he is continuing to invest in his China factories, adding both automation and new capacity. The CEO of Danby Appliances, a Canadian company that sells over half of its products in the U.S., got 85% of its goods from Chinese factories five years ago.

Persons: Lucy Nicholson, Jason Andringa’s, Vermeer, Biden, Joe Biden, Xi Jinping, Gina Raimondo, Matt Dollard, Ryan Gunnigle, Kids2, Jim Estill, He’s, Danby, Timothy Aeppel, Anna Driver Organizations: Port, REUTERS, U.S ., U.S, Nvidia, Wall Street, U.S . Bureau, China Business Council, Reuters, Asia Pacific Economic Cooperation, Trump, RSM US, Appliances, Thomson Locations: Port of Long Beach, Port of Los Angeles, Los Angeles , California, U.S, China . Iowa, China, Mexico, Asia, San Francisco, Beijing, Washington, Taiwan, Vietnam, India, Atlanta, Canadian, Turkey, Canada

☆ AGCO Corp to acquire $2 billion stake in Trimble unit to boost agri portfolio
▼ + stars: | 2023-09-28 | by ( Kannaki Deka | ) www.reuters.com time to read: +2 min

People look at AGCO equipment as they attend National Farm Machinery show in Louisville, Kentucky, February 12, 2016. REUTERS/Meredith Davis/File Photo Acquire Licensing RightsSept 28 (Reuters) - AGCO Corp (AGCO.N) said on Thursday it would acquire an 85% stake in navigation products maker Trimble's (TRMB.O) agribusiness for $2.0 billion in cash as the tractor and seeding equipment firm seeks to boost its precision-agriculture portfolio. "This deal significantly enhances AGCO's technology stack with disruptive technologies that cover every aspect of the crop cycle," AGCO Chief Executive Eric Hansotia said. The precision-agriculture approach employs technology and the global positioning system to ensure that seeds, fertilizer and chemicals are used correctly. The stake's purchase price represents an implied enterprise value of about $2.35 billion for the business, AGCO said.

Persons: Meredith Davis, Eric Hansotia, Oppenheimer, Trimble, AGCO, Morgan Stanley, Kannaki, Vinay Dwivedi Organizations: Farm Machinery, REUTERS, AGCO, Thomson Locations: Louisville , Kentucky, Ukraine, Bengaluru

☆ 13 brands, from Coca-Cola to REI, that are pouring money into movies and TV to reach consumers with Hollywood-style storytelling
▼ + stars: | 2023-09-01 | by ( Lucia Moses | ) www.businessinsider.com time to read: +10 min

Mattel's Barbie is just one of many big brands getting serious about making Hollywood-style entertainment. "Barbie" may be the movie of the summer, but lots of other big brands are getting serious about making Hollywood-style entertainment. Brands are also getting more systematic about tracking the projects' outcome so they can justify the cost. Neutrogena: Neutrogena Studios launched in 2021 and is J&J Consumer's first brand-funded content studio to make feature documentaries and scripted shorts. Showtime/PepsiPepsiCo: PepsiCo's Content Studio is led by veteran PepsiCo marketer Lou Arbetter.

Persons: Barbie, Ron Howard, Brian Grazer's, Oscar, Michael Sugar, Brian Newman, REI, Michael Sugar's, Jae Goodman, Lauren Denowitz, Coke, Brian Grazer, Ron Howard's, Selman Careaga, John Deere, Mara Downing, Al Roker, Jill Wilfert, Robbie Brenner, J.J, Abrams, Lena Dunham, Barney, Daniel Kaluuya, J, Sebastian Garcia, Laurie Hernandez, Matt Damon, Ben Affleck's, Entertainment —, Justin Biskin —, Howard, Lou Arbetter, Max, Robert Rodriguez, Nadia Hallgre, Stanley Nelson, Arbetter, It's, Procter, Kimberly Doebereiner, Paolo Mottola, Kyra Sedgwick, Watiti, Saint Laurent, Anthony Vaccarello, Saint, Pedro Almodóvar, Ethan Hawke, Pedro Pascal, it's, Paolo Sorrentino, David Cronenberg, Kelly Mullen, Bryce Dallas Howard, Lena Waithe, WePresent, Holly Fraser, Moses Sumney, Solange Knowles, Riz Ahmed, Aneil, Fraser Organizations: Hollywood, Procter, Gamble, Brands, Unilever, InBev, Waffle Iron Entertainment, draftLine Entertainment, Netflix, Coca Cola, Entertainment, Global, Deere, Warner Bros, Warner Brothers, Universal Studios, Mattel, Neutrogena Studios, Studio, Kerry, Seattle Film, Ghetto Film, HBO Nike, Nike, Waffle, Apple, HBO, Showtime, Pepsi PepsiCo, PepsiCo, Pepsi Super, Pepsi, G Studios, Imagine, Amazon's, Hulu, Paramount, Blue Fox Entertainment, Saint Laurent Productions, Unilever Entertainment, Imagine Entertainment, Monotype Locations: Hollywood, Kerry Washington, American, Cannes, Britain

The Moline, Illinois-based company posted a 60% rise in quarterly profit, yet investors were seemingly unimpressed as shares slumped for the world's largest farm equipment maker. While it easily beat profit expectations, Deere's stock slump is consistent with other cyclical companies that have outperformed estimates. Deere expects 2023 net income between $9.75 billion and $10.00 billion, up from its previous outlook of $9.25 billion to $9.50 billion. Construction and forestry equipment sales increased 14% on solid demand backdrop fueled by U.S. President Joe Biden administration's $1 trillion infrastructure deal. Sales from equipment operations rose about to $14.28 billion compared to $13 billion a year ago.

Persons: Bianca Flowers, Deere, Kristen Owen, Owen, Jerry Revich, Goldman Sachs, Joshua Jepsen, Joe Biden administration's, Vinay Dwivedi, Elaine Hardcastle, Marguerita Choy Organizations: Deere, Co, REUTERS, Oppenheimer, Co Inc, Goldman, Deere's, U.S, Thomson Locations: Bondurant , Iowa, U.S, Moline , Illinois, Chicago, Bengaluru

☆ Brands are pouring money into film and TV — meet 13 marketers making the biggest moves as Hollywood's new financiers
▼ + stars: | 2023-07-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +10 min

It's not just Barbie — lots of big brands are getting serious about making Hollywood-style entertainment. Insider identified 13 new and established players making the biggest moves in the space. "Barbie" may be the movie of the summer, but lots of other big brands are getting serious about making Hollywood-style entertainment. Neutrogena: Neutrogena Studios launched in 2021 and is J&J Consumer's first brand-funded content studio to make feature documentaries and scripted shorts. PepsiCo: PepsiCo's Content Studio is led by veteran PepsiCo marketer Lou Arbetter.

Persons: It's, Ron Howard, Brian Grazer's, Oscar, Michael Sugar, Brian Newman, REI, Michael Sugar's, Jae Goodman, Lauren Denowitz, Coke, Brian Grazer, Ron Howard's, Selman Careaga, John Deere, Mara Downing, Al Roker, Jill Wilfert, Ryan Gosling, Margot Robbie, Barbie, Ken, Jaap Buitendijk, Robbie Brenner, J.J, Abrams, Lena Dunham, Barney, Daniel Kaluuya, J, Sebastian Garcia, Laurie Hernandez, Matt Damon, Ben Affleck's, Entertainment —, Justin Biskin —, Howard, Lou Arbetter, Max, Robert Rodriguez, Nadia Hallgre, Stanley Nelson, Arbetter, Procter, Kimberly Doebereiner, Paolo Mattola, Kyra Sedgwick, Watiti, Saint Laurent, Anthony Vaccarello, Saint, Pedro Almodóvar, Ethan Hawke, Pedro Pascal, it's, Paolo Sorrentino, David Cronenberg, Kelly Mullen, Bryce Dallas Howard, Lena Waithe, WePresent, Holly Fraser, Moses Sumney, Solange Knowles, Riz Ahmed, Aneil, Fraser Organizations: Hollywood, Procter, Gamble, Companies, Brands, Unilever, InBev, Waffle Iron Entertainment, draftLine Entertainment, Netflix, Coca Cola, Entertainment, Global, Deere, Warner Bros, Warner Brothers, Universal Studios, Mattel, Neutrogena Studios, Studio, Kerry, Seattle Film, Ghetto Film, HBO Nike, Nike, Waffle, Apple, HBO, PepsiCo, Pepsi Super, Showtime, Pepsi, G Studios, Imagine, Amazon's, Hulu, Paramount, Blue Fox Entertainment, Saint Laurent Productions, Unilever Entertainment, Imagine Entertainment, Monotype Locations: Hollywood, Kerry Washington, American, Cannes, Britain

☆ EU weighs concession to Russian bank over Black Sea grain deal -FT
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

July 3 (Reuters) - The European Union is considering a proposal for the Russian Agricultural Bank to set up a subsidiary to reconnect to the global financial network as a sop to Moscow, the Financial Times said on Monday. With the bank under sanctions, the move aims to safeguard the Black Sea grain deal that allows Ukraine to export food to global markets, the newspaper said. Russia last week said that it saw no reason to extend the grain deal beyond July 17 because the West had acted in an "outrageous" way over the agreement, though it assured poor countries that Russian grain exports would continue. Moscow's plan, proposed through U.N.-brokered talks, would let the bank unit handle payments related to grain exports, the paper said, citing unnamed sources. "On the one hand, any opportunities for agricultural exports are good.

Persons: Trofimtseva, SWIFT, Jahnavi, Pavel Polityuk, Kim Coghill, Clarence Fernandez, David Goodman Organizations: European, Russian Agricultural Bank, Financial Times, EU, Thomson Locations: European Union, Moscow, Ukraine, Russia, U.N, Bengaluru

☆ 49. Monarch Tractor
▼ + stars: | 2023-05-09 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

That's why Monarch believes its zero-emission MK-V tractor, which came off production lines this past December, can make a difference in climate change. As the producer of the world's first-ever fully electric, driver-optional smart tractor, Monarch Tractor's goal is to bring sustainability to farming's workhorse. In April, Chinese contract manufacturing giant Foxconn began MK-V tractor production at its Lordstown, Ohio, plant, which Foxconn bought from troubled EV maker Lordstown Motors last year. With growing government and societal incentives to make the shift toward greener farming, Monarch Tractor is confident in its abilities to transform the agriculture industry as we know it. Farm machinery giant Deere , which has a 60% market share in the U.S., has made several acquisitions in the autonomous tractor and machine learning space.

Jason Connolly/Pool via REUTERS/File PhotoApril 25 (Reuters) - Colorado's governor signed the nation's first right to repair legislation into law on Tuesday, giving the state's farmers and ranchers the autonomy to fix their own equipment. With a Case IH red tractor displayed outside the state Capitol in Denver, Governor Jared Polis, a Democrat, signed The Consumer Right to Repair Agriculture Equipment Act. "This is a common-sense bipartisan bill to help people avoid unnecessary delays from equipment repairs." Right to repair legislation is gaining momentum across the country as lawmakers in 16 states have introduced bills, according to a report by the Public Interest Research Group, an advocacy organization. "Creating more fair market access through right to repair is one of the items that we hope will be included," he said.

☆ Colorado passes first US right to repair legislation for farmers
▼ + stars: | 2023-04-12 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +2 min

The Consumer Right to Repair Agriculture Equipment Act passed 46-14 in Colorado's Senate late on Tuesday, after winning approval in the state House of Representatives in February. The bill garnered bipartisan support as farmers grew increasingly frustrated with costly repairs and inflated input prices denting their profits. Colorado's legislation would mandate farm machinery manufacturers like Deere and rival CNH Industrial (CNHI.MI) to provide farmers with diagnostic tools, software documents, and repair manuals starting Jan 1. State lawmakers are pushing right to repair legislation even though Deere and CNH signed a memorandum of understanding with the American Farm Bureau Federation to allow farmers to fix their equipment, or go to a third-party repair shop. The agreement does not give farmers total access for repairs, said Kevin O'Reilly, director for the campaign of right to repair at the U.S. Public Interest Research Group.

☆ CNH Industrial agrees to buy Hemisphere GNSS for $175 mln
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

MILAN, March 30 (Reuters) - CNH Industrial (CNHI.MI) said on Thursday that it had agreed to buy Hemisphere GNSS, a high-performance satellite positioning technology company, for $175 million to improve automation in its agriculture and construction businesses. Just before that, in 2021, it bought U.S.-based Raven for $2.1 billion to consolidate its presence in the precision farming segment. "Combined with our Raven Brand's capabilities, this development gives us full control of our precision and navigation technologies," CNH said with reference to the deal announced on Thursday. CNH said Hemisphere's core technology capabilities included application-specific integrated circuit chips, circuit boards, radio frequency signal processing, navigation algorithms and satellite-based correction designs. Hemisphere will continue to operate as a standalone business through its operations in the U.S., Canada and Australia, CNH said.

☆ CNH Industrial buys Augmenta to boost crop treatment accuracy
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

MILAN, March 13 (Reuters) - Italian-American vehicle maker CNH Industrial (CNHI.MI) has acquired U.S. company Augmenta, valuing its strategic partner at $110 million, in a bid to help farmers harness technology to increase the effectiveness of crop spraying. CNH, a maker of farm machinery and construction equipment sees so-called precision technologies as a key competitive feature in its agriculture business, its largest one. The group, whose revenue topped $25 billion in 2022, has said it was pursuing an estimated contribution from precision technology components of $1 billion to this year's net sales. CNH already owned a 10.5% stake in Augmenta through its venture capital arm CNH Industrial Ventures. The deal, which will be funded with available cash, is expected to be closed in the first quarter, CNH Industrial said.

☆ Here's why it makes sense that stocks are rallying as rates rise and a recession approaches, and what to own because they could keep going, according to research firm Leuthold Group.
▼ + stars: | 2023-02-24 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

Leuthold Group CIO Doug Ramsey says the "irrational" stock market rally could continue. Ramsey says that when economic indicators hit a low point, it's generally very good for stocks. It might not make a lot of sense that stocks have jumped in 2023 even as recession concerns have risen and interest rates have climbed to 15-year highs, notes Doug Ramsey, investment chief at Leuthold Group. Ramsey concedes that the moves are "irrational," but that doesn't mean there is no reason to be optimistic about stocks. He notes that a closely watched measurement of economic activity, the Conference Board's Leading Economic Index, is in a downturn.

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