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Sustainability-linked loans (SLL), which were first used in 2017, offer slightly cheaper borrowing, typically around 2.5-10 basis points less, if companies meet goals such as cutting their carbon emissions or improving board diversity. These let banks strip the sustainability-linked label from the loans if targets are no longer deemed appropriate. The banks' tougher standards are discouraging some borrowers from using SLLs entirely, bankers and lawyers told Reuters. The Engie spokesman said the utility would not agree to linking an event of default to sustainability targets. "We have stated our willingness to walk away when sustainability targets were too soft," said Brittany Agostino, vice president in the environmental, social and governance group at Los Angeles-based Ares.
Persons: Toby Melville, Banks, Constance Chalchat, Pascale Forde Maurice, Elliot Beard, Simmons, Beard, I've, David Milligan, Norton Rose Fulbright, Gemma Lawrence, Pardew, Brittany Agostino, Fredrik Altmann, Tommy Reggiori Wilkes, Isla Binnie, Shankar Ramakrishnan, Simon Jessop, Alexander Smith Organizations: FCA, Financial, Authority, REUTERS, LONDON, BNP, Corporate, Institutional Banking, Reuters, JPMorgan, Ford Motors, SLLs, CIB's, European, Sustainable Investment Banking, Simmons, Norton Rose, Market Association, BMW, Porsche, Thomson Locations: London, Britain, North America, Asia, Los Angeles, New York
After selling off more than 9% this week, shares of defense contractor RTX look poised for a bounce back, according to one technical indicator. Nearly half of Wall Street analysts rate shares a buy. It's the second most oversold stock in the S & P 500 with a 14-day RSI of 19.6. Just 14% of analysts rate shares a buy, with the average price target suggesting nearly 8% downside. Half of Wall Street analysts rate shares a buy, with a price target that implies 7% upside.
Persons: RTX, Lamb Weston, Estee Lauder, Biogen, Goldman Sachs Organizations: Federal Reserve, CNBC Pro, Raytheon, Pratt & Whitney, Wall Street, Ford Motor, Union Pacific, UNP, Pacific, Street, Marathon Petroleum
Detroit wisely gives up to Tesla this time
  + stars: | 2023-06-09 | by ( Jonathan Guilford | ) www.reuters.com   time to read: +3 min
Rallying around Tesla’s design will help. The partnership will also likely kill off competing standards - Tesla, Ford and GM accounted for three-quarters of electric cars sold in 2022, according to Experian. Apple (AAPL.O) and Alphabet’s (GOOGL.O) Google offer software that replaces the infotainment system and Tesla wants others to adopt its self-driving technology. Barra and Farley have given the tech upstarts an inch; Tesla and Big Tech will try to take the next mile. Tesla said in November that it would open its charging design for use by other companies.
Persons: Piper Sandler, Tesla, Mary Barra, Jim Farley, Farley, Jennifer Saba, Sharon Lam Organizations: YORK, Reuters, General Motors, automaker Ford Motor, Elon Musk’s, Ford, Apple, Google, Big Tech, Tesla’s, Ford Motor, Thomson Locations: North America, Canadian, Detroit
COMPASS MINERALS (CMP.N):Ford signed a five-year supply agreement to obtain battery-grade lithium carbonate from Compass' lithium brine development project in Ogden, Utah. Under the agreement, Compass Minerals will deliver up to 40% of its planned, phase-one battery-grade lithium carbonate to Ford once production begins. NEMASKA LITHIUM:Nemaska Lithium, owned by Investissement Québec and Livent (LTHM.N), will supply lithium products, including lithium hydroxide, to Ford over an 11-year period. ENERGYSOURCE MINERALS:EnergySource Minerals will supply lithium hydroxide produced at its Imperial Valley, California site which is expected to be operational in 2025. SOCIEDAD QUIMICA Y MINERA DE CHILE S.A. (SQM):Chile's SQM (SQMA.SN) and Ford have agreed to a long-term lithium supply agreement, the Chilean lithium miner said in a statement Monday.
Jan 4 (Reuters) - More U.S. consumers want to buy an electric vehicle (EV) but are concerned about rising prices, while fewer aimed to purchase gasoline-powered vehicles, a survey by consulting firm Deloitte showed on Wednesday. Nearly 7 in 10 prospective EV buyers in the United States expect to pay less than $50,000 for their next vehicle, according to the survey conducted between September and October 2022. More than half of the respondents in the survey said a lack of affordability was the biggest concern when it comes to EV adoption, at a time when top EV makers are raising prices amid high inflation. Internal combustion engine purchase intent dropped to 62% from 68%. "Although historically high transaction prices are a significant challenge for consumers, a strong desire to reduce refueling costs is driving EV purchase intent around the world," Deloitte LLP vice chair and U.S. automotive leader Karen Bowman said.
U.S. automaker Ford opens $260 million campus in Mexico
  + stars: | 2022-11-01 | by ( ) www.reuters.com   time to read: +1 min
MEXICO CITY, Oct 31 (Reuters) - U.S. automaker Ford Motor Co (F.N) opened its new global technology and business center on the outskirts of Mexico's capital on Monday after a $260 million investment. The new campus will host business operations, global transformation activities and the largest engineering center in Mexico, according to a video shared by the company's Twitter account. loadingThe campus, located in the municipality of Naucalpan, is set to host 9,000 employees working in a hybrid manner, splitting time between home and the campus, Ford Motor said in a statement. Several foreign auto companies have expanded operations and announced new investments in Mexico this year. Reporting by Carolina Pulice and Valentine Hilaire; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
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