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It's just too early to tell," said George Glassman, president of Glassman Automotive Group, which sells five automotive brands outside Detroit. Since then, VinFast shares have retreated, and were down 17.2% at $24.92 at midday on Thursday. The new hybrid sales plan is just another challenge and the luxury carmaker is already talking to dealers. U.S. dealers said there are too many unanswered questions, including how VinFast will distribute parts needed to make repairs. Several dealers said VinFast may need to offer sweetened profit margins to dealers to account for the added risk.

Persons: It's, George Glassman, VinFast, Le, Thuy, Scott Fink, I'm, Tesla, Andrew DiFeo, Augustine, Warren Browne, Rhett Ricart, Dealers, it's, Ricart, Beau Boeckmann, Boeckmann, Ben Klayman, Phuong Nguyen, Matthew Lewis Organizations: Nasdaq, U.S, Reuters, Glassman Automotive, Ford, General Motors, U.S ., Fink Automotive Group, VW, Subaru, GM, Hyundai, Ricart Automotive, Toyota, Honda, Galpin Motors, Thomson Locations: U.S, North America, Detroit, VinFast, Tampa , Florida, St, Jacksonville , Florida, Columbus , Ohio, Los Angeles, VinFast's, Vietnam, Hanoi

☆ EV battery imports face scrutiny under US law on Chinese forced labor
▼ + stars: | 2023-08-17 | by ( Nichola Groom | ) www.reuters.com time to read: +6 min

More than a year of enforcement of the Uyghur Forced Labor Prevention Act (UFLPA) has already stymied development of solar energy projects as detained panel shipments languish in U.S. warehouses. When shipments are detained, CBP provides the importer with a list of examples of products from previous reviews and the kind of documentation required to prove they are not made with forced labor, CBP told Reuters. "The timing of these changes does not reflect any specific changes in strategy or operations," a CBP spokesperson said in a statement, adding that the list of eight product types was "not exhaustive." In a report to Congress last month on UFLPA enforcement, CBP listed lithium-ion batteries, tires, "and other automobile components" among the "potential risk areas" it was monitoring. The stepped-up focus on automakers follows a study by Britain's Sheffield Hallam University published in December that said nearly every major automaker has exposure to products made with forced labor in Xinjiang.

Persons: Janet Yellen, Mark Schiefelbein, Dan Solomon, Chevalier, Solomon, Britain's, Ron Wyden, Wyden, we've, Tesla, Brandon Daniels, Nichola Groom, David Shepardson, Jan Schwartz, Daniel Leussink, Matthew Lewis Organizations: Reuters, U.S . Customs, Border Protection, Beijing, Uyghur, Labor, U.S . Solar Energy Industries Association, Biden, CBP, Miller, Britain's Sheffield Hallam University, U.S, Senate, Benz, Volkswagen, Friedrichshafen AG, Bosch, General Motors, Honda, Toyota, Continental AG, Thomson Locations: United States, Diaoyutai, Beijing, China, Xinjiang, U.S, Detroit, UFLPA, Los Angeles, Washington, Hamburg, Tokyo

☆ Japanese rider Noguchi dies at 22 after Mandalika crash
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

Aug 17 (Reuters) - Japanese superbike rider Haruki Noguchi has died aged 22, following critical injuries suffered in a crash last weekend during the fourth round of the Asia Road Championship in Indonesia, organisers said on Thursday. The SDG Honda Racing rider, who finished third at the Suzuka-8 Hours this month, was treated for his injuries at Pertamina Mandalika International Circuit's medical centre. Noguchi had been in intensive treatment for three days at a hospital in Indonesia's eastern region of Nusa Tenggara. The Asia Superbike 1000cc race was cancelled after the incident at Turn 10. Noguchi broke into the motorcycling scene with his 2021 win in the Superstock 600 category at the All Japan Road Racing Championships.

Persons: Haruki Noguchi, Haruki, Noguchi, Pearl Josephine Nazare, Clarence Fernandez Organizations: Asia, Honda, Pertamina, Japan, Racing, Thomson Locations: Indonesia, Indonesia's, Nusa Tenggara, Bengaluru

☆ IPG Mediabrands 'privacy alert' says clients should 'consider' a pause on Google ads product
▼ + stars: | 2023-08-17 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +18 min

Google has disputed the Adalytics report, with a spokesperson describing it in a statement to Insider as "deeply flawed and misleading." An IPG Mediabrands spokeswoman said it was not accurate to say the agency was recommending a pause on any Google product. "What worries me about this Adalytics report is that Performance Max campaigns have allegedly been observed to run on made-for children inventory," Schreurs said. The article also refers to research undertaken by 3rd party (Adalytics) and the Adalytics report also mentions the following IPG/MB clients: 1. GAF For several of the above clients, the Adalytics report references that IPG/Matterkind placed the ad.

Persons: Max, IPG Mediabrands, Adalytics, wasn't, IPG, Ruben Schreurs, Schreurs, Edward J, Markey, Marsha Blackburn, Dyson, Matterkind, Biden's Organizations: Google, YouTube, The New York Times, Federal Trade Commission, COPPA, Republican, New York Times, Brand, Adalytics, NY Times, BMO, BMW, Nike, Intuit, Honda, FTC, United States, Association, MFK Locations: Massachusetts, Tennessee, United, MFK

The UAW president has rattled automakers with combative rhetoric, delivered via Facebook Live videos, including one where he threw contract proposals from Stellantis into a trash can. U.S. President Joe Biden on Monday urged the automakers and the union to come to a "fair agreement." The three automakers have signaled such a move would add billions in liabilities and make their unionized U.S. operations uncompetitive. Fain said the union's analysis concluded that the automakers could fund defined-benefit plans for roughly the same cost as current 401(k) savings plans. Walkouts at the Detroit Three could benefit Tesla (TSLA.O) and other non-union automakers including Toyota Motor (7203.T), Honda Motor (7267.T), Nissan Motor (7201.T) and Hyundai Motor (005380.KS), Anderson said.

Persons: Shawn Fain, Fain, Joe Biden, Biden's, Anderson, Joe White, Matthew Lewis Organizations: DETROIT, United Auto Workers, Reuters, Detroit Three, General Motors, Ford, UAW, Facebook, Detroit, Monday, Anderson Economic Group, Toyota, Honda, Nissan, Hyundai, Thomson Locations: North America, Michigan, U.S, Detroit, East Lansing , Michigan

☆ Acura is late to the EV party — but its first electric SUV looks like a winner
▼ + stars: | 2023-08-17 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

The 2024 Acura ZDX. The 2024 Acura ZDX. The 2024 Acura ZDX. The 2024 Acura ZDX. The 2024 Acura ZDX.

Persons: Mercedes, Tesla, Lexus's Organizations: Acura, Cadillac, BMW, Audi, Mercedes, Morning, Elon, General Motors, Honda, EV, Acura Acura, Google, Tesla Locations: fashionably

☆ Some of America's poorest communities are landing clean energy projects
▼ + stars: | 2023-08-16 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

This is just one example of a struggling community that has landed a major investment in clean energy since President Joe Biden signed the Inflation Reduction Act into law exactly one year ago Wednesday. The $750 billion law — the largest climate investment in US history — has helped spark a boom in private investment, especially in clean energy, electric vehicles and batteries. Importantly, many of these clean energy projects are set to be built in communities that really need the help. New plants could bring people into the labor force who have been left behind,” the Treasury analysis finds. The $4.4 billion investment is expected to create 300 new jobs and support countless existing ones.

Persons: Joe Biden, —, Wally Adeyemo, ‘, it’s, ” Daniel Yergin Organizations: New, New York CNN, Adams Fork Energy, CNX Resources, Treasury Department, CNN, Honda, LG Energy, Treasury, Bank of America, ” Bank of America, P, P Global Locations: New York, Mingo County , West Virginia, Mingo County, Fayette County , Ohio, Columbus, Marysville , Ohio

☆ 'China has disappointed': These are the top markets and stocks to invest in, according to the pros
▼ + stars: | 2023-08-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

In contrast, nearly $1 billion went into emerging market ex-China mutual funds, according to Refinitiv data that Reuters cited. Here are some alternatives to China and the stocks to invest in, according to the pros. Japan Japan stocks have been an investor favorite this year, seeing the highest inflows in 20 years, according to Eastspring Investments. Demand for Japan funds has surged among European investors, according to data from research firm Cerulli. The bank screened for Japan stocks with the following attributes: resilient earnings, price-to-book (P/B) ratio below 1.5, and potential P/B upside relative to return on equity.

Persons: Morningstar, “, ”, Derrick Irwin, there's, Oliver Lee, BofA, Joanne Peng, Allspring's Irwin, Irwin, Fomento, He's, Morgan Stanley, Will, ” Irwin, Cerulli’s Peng Organizations: Morningstar, CNBC Pro, Reuters, Allspring Global Investments, CNBC, “, Eastspring Investments, Ivailo, Mitsui & Co, Honda Motor, Nomura, Kansai Electric Power, Mitsubishi Motors, Panasonic, Mexicano, HDFC Bank, HDFC Locations: European, China, India, Beijing, Japan Japan, Japan, Europe, Vietnam, Asia, Indonesia, Malaysia, Southeast Asia, Mexico, America, Will China

Nissan late last month upgraded its full-year operating profit forecast, raising it by 30 billion yen ($208 million) to 550 billion yen. About 20 billion yen of that came from the currency, CFO Stephen Ma told a briefing. At smaller Subaru (7270.T), a move of one yen against the dollar has a 20 billion yen impact on operating profit, CFO Katsuyuki Mizuma said earlier this month. On Wednesday, a Honda official said its April-June operating profit came in tens of billions of yen higher than expected, with the weak yen accounting for about half of that. It is unclear how long the weak yen will last.

Persons: Aly, Satoru Aoyama, Stephen Ma, Katsuyuki Mizuma, Eisuke Sakakibara, Mizuma, Daniel Leussink, David Dolan, Toby Chopra Organizations: Auto, REUTERS, Toyota, Honda, Nissan, Fitch, Japan, U.S . Federal Reserve, Subaru, Lexus, Reuters, Thomson Locations: Auto Shanghai, Shanghai, China, Asia, Europe, CHINA

That is by far the most ever spent on clean energy in a year. Solar and Wind Power Have Taken Off Electricity generation per year, in terawatt hours China 600 TWh 500 Solar Wind U.S. China 400 E.U. It would shred regulations designed to curb greenhouse gases, dismantle nearly every federal clean energy program and boost the production of fossil fuels. 1 2 3 4 5 Even Tulsa, with its strong links to oil and gas, is embracing clean energy. “But we also understand that energy is energy, whether it is generated by wind, steam or whatever it might be.”Around the country, clean energy is taking root in unlikely locales.

Persons: ”, Fatih Birol, Al Gore, Crews, Francis Energy, Dewey, Bartlett Jr, “, J.W, Peters, Mr, Lazard, Gregory Nemet, —, Biden, Tesla, Giovanni Bertolino, Jon Creyts, Steve Uerling’s, Uerling, Cathy Zoi, It’s, Mary Barra, ’, Barra Organizations: Buses, Port, International Energy Agency, India India, Energy, The New York Times, Heritage Foundation, Republican, Ford, University of Tulsa’s School of Petroleum Engineering, “ Oil, Drillers, Navistar, Public Service Company of Oklahoma, Francis, Solar Power, U.S . Steel, Gas, University of Wisconsin -, Panasonic, United, European Union, United States ’, General Motors, RMI, Ford Fusion, Tesla, Postal Service, Amazon, Peterbilt, Companies, Francis Energy, BMW Group, Honda, Hyundai, Kia, Benz Group Locations: Pittsburgh, Milwaukee, Port of Los Angeles, Houston, Europe, United States, America, China, Britain, terawatt, India, U.S, States, Beijing, London, Tokyo, Washington, Oslo, Dubai, Tulsa, Okla, Italian, Oklahoma, Oklahoma City, Texas, Galveston, In Arkansas, Republican, University of Wisconsin - Madison, Georgia, Korean, Nevada, tailpipes, California, New York, San Francisco, Canada, South Korea, Russia, Ukraine, Steve Uerling’s Tulsa, E.U, G.M

☆ Indonesia gives automakers more time to qualify for EV credits in investment bid
▼ + stars: | 2023-08-10 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +3 min

[1/5] A worker stands near a Mini Cooper Electric car, that is displayed during the Gaikindo Indonesia International Auto Show in Tangerang, near Jakarta, Indonesia, August 10, 2023. REUTERS/Willy KurniawanTANGERANG, Indonesia, Aug 10 (Reuters) - Indonesia said on Thursday it would give automakers two more years to qualify for electric vehicle incentives in Southeast Asia's largest auto market, a move followed by investment commitments by China's Neta EV brand and Mitsubishi Motors. The moves announced at the Jakarta auto show come as Indonesia races Thailand and India to build out an EV industry as an alternative to China, the world’s largest producer. Indonesia is Southeast Asia’s largest auto market and its second-largest production hub behind Thailand. Until now, only two manufacturers have shifted enough production to Indonesia to qualify for full incentives: Wuling Motors (0305.HK) and Hyundai (005380.KS).

Persons: Willy Kurniawan TANGERANG, Agus Gumiwang Kartasasmita, ” Agus, Wuling, Hiroyuki Ueda, Stefanno Sulaiman, Kevin Krolicki, Conor Humphries Organizations: Cooper, REUTERS, China's, Mitsubishi Motors, Toyota, Daihatsu, Honda, Mitsubishi, New Energy Automobile, Wuling Motors, HK, Hyundai, Wuling, Air EV, Reuters, Gaikindo, Auto Show, Astra Motor, PT Astra International, Thomson Locations: Indonesia, Tangerang, Jakarta, Thailand, India, China, Southeast, Neta, Gaikindo Indonesia

☆ Honda posts 78% jump in Q1 operating profit
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Honda logo is displayed at the 44th Bangkok International Motor Show in Bangkok, Thailand, March 23, 2023. REUTERS/Athit Perawongmetha/File PhotoCompanies Honda Motor Co Ltd FollowTOKYO, Aug 9 (Reuters) - Japan's Honda Motor (7267.T) reported a 78% rise in quarterly profit on Wednesday, boosted by both increased sales, especially in the North American market, and a weaker yen. Japan's second-biggest automaker by sales said operating profit totalled 394.4 billion yen ($2.76 billion) in the three months through June, handily beating the average 324.74 billion yen estimate in a poll of 10 analysts by Refinitiv. That compared with a 222.2 billion yen profit in the same period last year. Honda maintained its forecast for a 1.0 trillion yen operating profit for the current year, lower than the 1.117 trillion yen average forecast from 22 analysts.

Persons: Athit, Japan's, Daniel Leussink, David Dolan, Chang, Ran Kim Organizations: REUTERS, Honda Motor, Honda, Refinitiv, Thomson Locations: Bangkok, Thailand, American

Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song/File PhotoAug 9 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Producer prices in China have been falling on an annual basis every month since October, and more importantly, the pace of decline has accelerated this year. The range of PPI forecasts is -6.1% to -2.9%, and the CPI range is -0.9% to 0.5%, according to Reuters polls. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Aly, Jamie McGeever, Deepa Babington Organizations: REUTERS, Wall Street, CPI, Bridgestone, Honda, Sony, Nasdaq, China CPI, PPI, Thomson, Reuters Locations: Shanghai, China, Japan, Asia, South Korea

☆ Springboks include injured skipper Kolisi in World Cup squad
▼ + stars: | 2023-08-08 | by ( Mark Gleeson | ) www.reuters.com time to read: +3 min

JOHANNESBURG, Aug 8 (Reuters) - South Africa captain Siya Kolisi was included in the squad for next month’s Rugby World Cup but other key players left out because of injury, including influential flyhalf Handre Pollard and World Cup-winning centre Lukhanyo Am. There are 12 World Cup debutants but the Boks kept the bulk of the side that won the tournament in Japan four years ago. Also out is Lood de Jager, the giant lock who was also part of team four years ago. He heads a list of players who compete at a third World Cup tournament. South Africa play in Pool B at the World Cup where they also meet Romania, Ireland and Tonga.

Persons: Siya Kolisi, flyhalf Handre Pollard, Kolisi, Pollard, de Jager, Jacques Nienaber, De Jager, Nienaber, Frans Malherbe, Trevor Nyakane, Eben Etzebeth, Steph du Toit, Duane Vermeulen, Damian de Allende, Jesse Kriel, Kurt, Lee Arendse, Faf de Klerk, Andre Esterhuizen, Jaden Hendrikse, Cheslin Kolbe, Willie le Roux, Manie, Makazole Mapimpi, Canan Moodie, Cobus Reinach, Damian Willemse, Grant Williams, Pieter, Deon Fourie, Steven Kitshoff, Jean Kleyn, Vincent Koch, Malcolm Marx, Kubota Spears, Bongi Mbonambi, Franco Mostert, Nche, Marvin Orie, Kwagga Smith, Marco van Staden, Jasper Wiese, Christian Radnedge Organizations: Rugby, Lukhanyo, Scotland, Argentina, SA Rugby, Wales, New Zealand, Twickenham, Romania, Tonga, Squad, Panasonic, Knights, Canon Eagles, Harlequins, Suntory, Eagles, Toyota, Honda, Snyman, Leicester Tigers, Thomson Locations: JOHANNESBURG, South Africa, Marseille, Japan, Cardiff, New, Ireland, Montpellier, Ulster, Munster, Stormers

☆ Drivers Frustrated With Their Cars Door Handles, Screens, Other Tech
▼ + stars: | 2023-08-07 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +4 min

The auto research firm JD Power assessed dozens of vehicle brands for its latest quality study. The overall quality of new vehicles is deteriorating and nagging problems are on the rise, according to a new study from JD Power. "The basic touch point of door handles is now a percolating problem area as manufacturers attempt to redesign them," JD Power said. JD Power assigned a score to each auto brand based on problems per 100 vehicles, and calculated an industry average of 192 problems per 100 vehicles (PP100), up from 180 in 2022. In terms of vehicles themselves, the Nissan Maxima had the highest initial quality overall, with 106 problems per 100 vehicles, according to the survey.

Persons: Tesla, Dodge, Frank Hanley, Power, JD Power, Ram, Alfa Romeo, Polestar Organizations: JD Power, Fiat Chrysler, French PSA Group, Buick, Chevrolet, Volvo, Chrysler, Volkswagen, Nissan, JD, Dodge, Romeo, GMC, Porsche, Kia, Lexus, Maserati, Hyundai, Honda, BMW, Mitsubishi, Toyota, Ford, Benz, Rover, Mazda, Acura, Lincoln

☆ Aprilia's Espargaro wins in Britain with last-lap pass
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +3 min

Espargaro denied Bagnaia his fifth grand prix win of the season by 0.215 of a second, with the top four separated by just 0.750. Espargaro was up to second by lap six, helped also by team mate Maverick Vinales and Jack Miller clashing and running wide ahead of him. "At that time, my plan was to pass him (Bagnaia) and try to go away," said Espargaro. "But when it started to rain I said 'OK, stay quiet behind Pecco, it's better that he open the track'. Honda's six-times MotoGP champion Marc Marquez fell five laps from the finish, continuing a grim run for the struggling Spaniard who has yet to complete a grand prix this season.

Persons: Aleix Espargaro, Francesco Bagnaia, Binder, Marc Marquez, Espargaro, Ducati's Francesco Bagnaia, Bagnaia, Brad Binder, Marco Bezzecchi, Pramac Ducati's, Jorge Martin, Espargaro's, Maverick Vinales, Jack Miller, Portugal's Miguel Oliveira, Martin, Younger, Alex, Alan Baldwin, Alex Richardson, Ed Osmond Organizations: Prix, Silverstone Circuit, Aprilia, Ducati Lenovo, Red Bull KTM Factory, MotoGP, KTM Bezzecchi, Silverstone, South, KTM, Stowe, Spaniard, Ducati, Thomson Locations: Silverstone, Britain, Bagnaia's, Argentina, London

I lived in Rota, Spain, for a while on assignment with the Navy. I grew up in Texas and was used to driving everywhere and cranking the AC, but that changed in Spain. I walked, biked, and carpooled to save money, ate locally, and learned to keep cool on the cheap. Now that I'm back Stateside I've taken the lessons I learned while deployed in Rota, Spain, and used them to save thousands by employing a few simple lifestyle tweaks. I stopped spending on things and chose experiences insteadIn that tiny Spanish apartment, I had very little room for things.

Persons: Gazpacho, I'm, Honda Organizations: Navy, Service Locations: Rota, Spain, Texas, Wall, Silicon, Florida, States, Europe

☆ Alex Marquez beats Bezzecchi to Silverstone sprint victory
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +2 min

Aug 5 (Reuters) - Spaniard Alex Marquez beat late-charging Marco Bezzecchi to become the fifth different sprint winner in nine rounds of the MotoGP season with victory in the 10 lap race at Silverstone on Saturday. The Gresini Racing Ducati rider, who started on the front row in third place, beat VR46 Ducati's pole-sitter Bezzecchi by 0.366 seconds with Aprilia's Maverick Vinales third. The younger brother of six times MotoGP champion Marc, who finished 18th for the struggling Repsol Honda team, Marquez took the lead from KTM's Australian Jack Miller on the second lap on a drying track after heavy rain. Alex Marquez was one of several fallers in qualifying, with some riders questioning whether the sprint should go ahead on safety grounds before conditions improved. "I didn't expect such difficult conditions in the race," said Bezzecchi, who had a big crash in qualifying after securing pole and came back at Marquez in the closing stages.

Persons: Alex Marquez, Marco Bezzecchi, VR46, Bezzecchi, Aprilia's Maverick, Marc, Repsol, Marquez, Jack Miller, Francesco Bagnaia, Jorge Martin, Pramac, couldn't, Alex, Alan Baldwin, Christian Radnedge Organizations: Silverstone, Ducati, Repsol Honda, Pramac Ducati, Marquez, Vinales, Thomson Locations: London

☆ What happened to Jeep? The mother of all SUVs has lost its edge as sales fall and cars pile up on dealer lots
▼ + stars: | 2023-08-04 | by ( Alexa St. John | ) www.businessinsider.com time to read: 1 min

And Jeep has more inventory sitting on lots right now than many of its peers. JeepWhile competing automakers are operating rather lean and intentionally keeping lighter levels of supply at dealerships, the number of cars Jeep has on lots is considerably higher. (This number isn't always a red flag, depending on how popular a car is or how an automaker handled supply shortages in recent years.) Jeep had 77 days' supply at the end of June, according to Cox Automotive — higher than the national average of 53 days. Ford isn't far off, at nearly 76 days, but GM's GMC and Chevrolet sat at 63 and 50 days' supply, respectively, in the same period.

Persons: Ford isn't, Cox Organizations: Jeep, Cox Automotive, GMC, Chevrolet, Toyota, Hyundai, Honda

☆ Treat Williams death: Vermont man cited for negligence in crash that killed the actor, police say
▼ + stars: | 2023-08-02 | by ( Jamiel Lynch | ) edition.cnn.com time to read: +1 min

CNN —A Vermont man has been cited for negligence in the June vehicle crash that killed actor Treat Williams, state police said. Ryan Koss, 35, was issued a citation on a charge of “grossly negligent operation with death,” at the request of the Bennington County State’s Attorney’s Office, Vermont State Police said in a news release Monday. Koss was driving a Honda Element SUV that turned into the path of Williams’ motorcycle on Vermont Route 30 in Dorset, police said. He was airlifted to Albany Medical Center in New York, where he was pronounced dead, officials previously said. The medical examiner determined Williams’ cause of death was severe trauma and blood loss as a result of the crash, state police said.

Persons: Treat Williams, Ryan Koss, ”, Koss, Williams, Prince, Pam Van Sant Organizations: CNN, Vermont State Police, Albany Medical Center, City Locations: Vermont, Bennington County, Dorset, Albany, New York, ”

☆ Japan factory output rises 2% in June as demand buoys manufacturers
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 31 (Reuters) - Japanese factory output improved in June for the first time in two months, government data showed on Monday, highlighting growing confidence among manufacturers buoyed by strong demand. Output rose 2.0% in June from a month prior on a seasonally adjusted basis, missing the 2.4% median market forecast. Electronic components and devices output rose 6.8% as shipments of capacitors used in smartphones increased, the METI official said. Manufacturers surveyed by METI expected output to fall 0.2% in July and increase 1.1% in August, the data also showed. Separate data showed retail sales rose 5.9% in June from a year earlier, in line with economist forecasts.

Persons: Taro Saito, METI, We'll, Satoshi Sugiyama, Kim Coghill, Christopher Cushing Organizations: NLI Research, Bank of, Reuters, Ministry, Economy, Trade, Industry, Toyota, Honda, Nissan, Manufacturers, Thomson Locations: TOKYO, Japan

Tesla, which accounted for more than 60% of U.S. EV sales last year, has the largest network of fast-chargers with almost 18,000 Superchargers. Tesla said earlier this year it would open part of that charging network to EVs from rivals in order to be eligible for a share of funding from $7.5 billion in federal subsidies. The new charging company will support both charging standards but will compete with Tesla's network. CEOs of the seven auto brands said a charging network built out like gas stations with restrooms, food service and retail operations would support a faster EV rollout. Automakers, however, lack the necessary electricians or experience working with retailers, said Andres Pinter, co-CEO at installation and maintenance company Bullet EV Charging Solutions.

Persons: Tesla, Mercedes Benz, Akshay Singh, Karine Jean, Pierre said, Biden, TESLA, Carlos Tavares, Steve Marcus, –, Andres Pinter, Andre Barlow, Doyle Barlow, Mazard, Abhirup Roy, Jarrett renshaw, Kevin Krolicki, Ben Klayman, Paul Lienert, Diane Bartz, Chizu Nomiyama, Bernadette Baum, Marguerita Choy Organizations: General Motors, Hyundai Motor, Kia, Honda, BMW, EV, Tesla, Industry, White House, U.S, REUTERS, GM, Hyundai, BMW –, American, Solutions, VW, Daimler, Ford, Justice, Justice Department, White, Thomson Locations: U.S, North America, Las Vegas , Nevada, America, Europe, San Francisco, Washington

☆ Apple sneakers on sale for $50,000
▼ + stars: | 2023-07-26 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —When you think of Apple, it’s likely that what first springs to mind is a conveyer belt of revolutionary tech rather than a pair of sneakers. But a pair of “ultra-rare” Apple sneakers is now being sold by auctioneers Sotheby’s for $50,000, fetching a higher price tag than any current Apple product. Complete with the rainbow Apple logo on the tongue and side, the white trainers were custom-made for the company’s employees as a one-time giveaway at a National Sales Conference in the mid-1990s. Although producing sneakers is unusual for Apple, in 1986 the tech brand released a range of clothing and accessories dubbed “The Apple Collection,” featuring mugs, umbrellas, bags, keyrings and even a sailboard, all emblazoned with the rainbow Apple logo, according to a catalog published that year. This pair of sneakers is not the first vintage Apple product to have sold for an eyewatering sum in recent months.

Persons: auctioneers Sotheby’s, “, ” Sotheby’s, Lamy, Braun, Sotherby’s, Steve Jobs Organizations: CNN, Apple, National Sales Conference, Honda

☆ Seven major automakers, including GM and
▼ + stars: | 2023-07-26 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Seven major automakers are coming together to create a joint venture that will build out a large electric vehicle fast-charging network in the North America, in an attempt to make electric vehicles more attractive to consumers. The first of the new charging stations will open next summer, the companies announced, first in the US and, later, in Canada. Vehicles made by other manufacturers, not just these seven, will be able to charge at these stations, as well. The new joint venture will rely on funds from the automakers as well as using grants offered by the federal government to build new EV chargers. There are currently about 35,000 NACS and CCS chargers in the US, but many more will be needed as the number of electric vehicles increases in coming years.

Persons: “, Mary Barra, Brian Moody, Biden Organizations: CNN, Seven, Motors, BMW Group, Honda, Hyundai, Kia, Benz, GM, Cox, Vehicles, Mercedes, US Department of Energy, National Renewable Energy Laboratory Locations: North America, United States, Canada

☆ Australia's O'Callaghan smashes 14-year-old record to win world title
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +3 min

FUKUOKA, Japan, July 26 (Reuters) - Australia's Mollie O'Callaghan finished with a flourish to break the longest-standing world record in women's swimming, claiming the 200 metres freestyle title in a time of one minute, 52.85 seconds at the World Aquatics Championships on Wednesday. Summer McIntosh of Canada was 0.80 seconds behind to take bronze in a world junior record time. Olympic champion Titmus had blazed to the 400m freestyle title on Sunday to erase 16-year-old McIntosh's mark and was well placed to go for another record after topping the semi-final time sheet. Hungary's world record holder Kristof Milak was absent from the men's 200m butterfly that followed, as the Olympic and world champion skipped the meet saying that he was not physically or mentally in a position to compete. The mixed 4x100m medley relay concludes the fourth day of swimming with the Americans tipped to win their third title.

Persons: Mollie O'Callaghan, O'Callaghan, Italian Federica Pellegrini, Ariarne Titmus, Summer McIntosh, Titmus, China's Yang Junxuan, Kristof Milak, Frenchman Leon Marchand, Poland's Krzysztof Chmielewski, Tomoru Honda, Qin Haiyang, Nic Fink, Adam Peaty, Matthew Richards, Ahmed Hafnaoui, Sam Short, Bobby Finke, Shrivathsa Sridhar, Toby Davis Organizations: Wednesday, Channel, Marine Messe Fukuoka, Thomson Locations: FUKUOKA, Japan, Italian, Rome, Australia, Canada, Budapest, Tunisia, United States, Bengaluru

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