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☆ Renault and Nissan forgo Wednesday announcement of alliance deal -media
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 3 (Reuters) - Renault SA (RENA.PA) and Nissan Motor Co (7201.T) are set to forgo a Wednesday announcement of a deal to restructure their automotive alliance as they struggle to bridge their differences, Japanese television network JNN reported. The French and Japanese carmakers remained apart on how to share intellectual property, JNN said late on Friday. There are no plans on when to make an announcement, the network said. The companies have been aiming to announce the new alliance structure as early as this month, Reuters reported this week. The question of how to share technology and intellectual property has proved to be a sticking point in the talks.

☆ Renault and Nissan forgo Dec. 7 announcement of new deal -JNN
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 3 (Reuters) - Automakers Renault and Nissan are set to forgo an announcement on Dec. 7 of a new deal on their restructured alliance as they struggle to bridge their differences, Japanese TV network JNN reported on Friday. Renault is looking to Nissan to invest in its EV business, while Nissan is seeking the sale of part of Renault's 43% stake in Nissan to put the two partners on a more equal footing. The two parties decided to forgo an announcement on Dec. 7 as they had not reached an agreement as of Friday on how to share intellectual property, JNN said. Neither Renault nor Nissan immediately responded to a request for comment. Reuters previously reported that both parties had raised Dec. 7 as a possible date for an announcement of the new alliance structure.

☆ Goldman Sachs says this little-known biotech stock can double on potentially ‘blockbuster’ revenue
▼ + stars: | 2022-12-01 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Investors should buy biopharma stock Altimmune as it can double from here depending on the success of a new obesity drug, according to Goldman Sachs. However, the analyst expects that the growing obesity market is not a "zero-sum game" and has niches for new players. "We believe that cardiovascular and lipid benefits conferred by pemvidutide will allow ALT to earn meaningful market share and blockbuster revenues," Jenkins wrote. The analyst expects further studies on the pemvidutide's treatment on other diseases could also help differentiate the drug. Shares of Altimmune are up 8% this year, but the analyst expects they'll advance further.

But satellite images and photos show the Chinese-owned ship had loaded the oil four months earlier in Venezuela, an OPEC nation in South America under U.S. oil sanctions. Two of those tankers, including the Young Yong, were designated this month by U.S. authorities for violating sanctions on Iran, one of Venezuela's closest allies. The U.S. Treasury declined to comment on the involvement of the Young Yong or the other vessels identified by Reuters in shipping Venezuela crude. Indonesian authorities said in early November that the Young Yong had run aground off the Riau Islands on Oct. 26. The United States imposed oil trading sanctions on Venezuela in 2019 after calling Maduro's re-election the previous year a sham.

☆ Renault-Airbus partnership to develop new generation of electric batteries
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] A model of Airbus A350-1000 jetliner is displayed at the China International Aviation and Aerospace Exhibition, or Airshow China, in Zhuhai, Guangdong province, China September 28, 2021. REUTERS/Aly Song/File PhotoPARIS, Nov 30 (Reuters) - European planemaker Airbus (AIR.PA) announced on Wednesday a partnership with French carmaker Renault (RENA.PA) to develop a new generation of electric batteries for cars and planes. Engineering teams from both companies will join forces to mature technologies related to energy storage, one of the main roadblocks for the development of long-range electric vehicles, Airbus said in a statement. "Aviation is an extremely demanding field in terms of both safety and energy consumption, and so is the car industry." The collaboration will focus on energy management optimisation and battery weight improvement while also studying the full life cycle of future batteries and assessing their carbon footprint.

☆ Renault chairman says confident of reaching deal with Nissan on future of alliance
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: 1 min

PARIS, Nov 29 (Reuters) - Renault's (RENA.PA) chairman on Tuesday told Reuters on Tuesday he was "confident" the French carmaker will reach an agreement with its Japanese partner Nissan (7201.T) on the future of their alliance. Ongoing talks between Renault and Nissan about their alliance could prompt the biggest reset in the tie-up since the 2018 arrest of longtime executive Carlos Ghosn, but it still has to be confirmed how they play out. Asked by Reuters whether any announcement on the matter will be made by mid-December, as suggested by some sources, Chairman Jean-Dominique Senard declined to comment. Reporting by Gilles Guillaume, writing by Tassilo Hummel, editing by Dominique VidalonOur Standards: The Thomson Reuters Trust Principles.

Bilt Mastercard® holders will also get eight days to earn bonus rewards, up to a max of 50,000 points. For December's Rent Day, Bilt is giving you a 100% transfer bonus to IHG, the chance to earn up to 50,000 bonus points, and more. To earn points with the Bilt Mastercard®, you must use your card at least five times per statement period. That makes your Bilt Rewards worth 1.4 cents each when transferring to IHG during this 100% transfer bonus. You'll earn 2,500 Bilt points per friend you refer to the Bilt Mastercard® — and 10,000 bonus points after successfully referring five members.

☆ Florida Sen. Rick Scott says Republicans should 'stop compromising' with Democrats, arguing that Senate GOP leaders 'routinely cave in' to Joe Biden and Chuck Schumer
▼ + stars: | 2022-11-20 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Sen. Rick Scott said GOP leaders had become too accommodating to Democratic leaders in Washington. The Florida lawmaker spoke this weekend before the Jewish Republican Coalition in Las Vegas. "Republican leaders in the Senate routinely cave in and allow Schumer and Biden to win," he said. A new era where Republicans actually give the voters a positive reason for voting for them is coming," he continued to say. "I ran for leader because Republican leaders in the Senate routinely cave in and allow Schumer and Biden to win.

☆ 'Compelling' and 'attractive': These stocks are firing on all cylinders, JPMorgan says
▼ + stars: | 2022-11-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Analysts at JPMorgan said this week there's a whole host of stocks that they say are flying under the radar. CNBC Pro combed through top JPMorgan research to find some unique stocks that are just too compelling to ignore. At the same time, Allstate's low stock valuation is "compelling," with a "depressed multiple on depressed earnings." With visibility improving, now's the time to buy the stock, JPMorgan concluded. ... .Our positive view reflects an expected recovery in margins & ALL's compelling valuation.

You probably already know that most travel credit cards offer some form of rental car insurance. It's often said the Chase Sapphire Preferred is the best starter travel credit card — and primary rental car insurance is a big reason why. If you're using a business credit card that offers primary car rental insurance, you need to be renting a car for business purposes in order to receive the coverage. Whether your coverage comes from a credit card, the auto rental agency, or your personal insurance plan, you should get rental car insurance. Of all rental car insurance options, primary insurance with a credit card is the best value.

☆ Renault considers transferring over half of Nissan stake to match holdings - Nikkei
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Renault SA (RENA.PA) may transfer more than half of a stake it owns in Nissan Motor (7201.T) to a trust to match the Japanese carmaker's holdings in itself, the Nikkei newspaper reported on Thursday. Renault would transfer a 28% stake it owns in Nissan to and would be left with a 15% stake, equivalent to what Nissan owns in the French automaker, the Nikkei said. Renault, which currently owns 43% of Nissan, would give up voting rights tied to the transferred shares, the newspaper added. Spokespeople for Renault and Nissan were not immediately available to comment. People with knowledge of the talks have said that Renault's stake in Nissan could be reduced to 15%.

☆ These transformative leaders in healthcare are dealing with an unprecedented era of politics in the medical industry amid the COVID-19 pandemic
▼ + stars: | 2022-11-15 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +7 min

Sign up for our newsletter to get the latest healthcare news and analysis — delivered weekly to your inbox. But while the peak of the pandemic appears to be in the rearview, the healthcare industry has continued to be governed by political forces. This year, healthcare focused on transgender people and abortion rights has come under attack. Other healthcare professionals are using federal power to prevent the spread of infectious diseases other than COVID-19. Social stigma from the monkeypox outbreaks has mildly echoed the intense social and political stigma of HIV, which Daskalakis has focused on for the majority of his career.

☆ Gauging Sam Bankman-Fried's fraud liability with Vanderbilt's Yesha Yadav
▼ + stars: | 2022-11-14 | 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 EmailGauging Sam Bankman-Fried's fraud liability with Vanderbilt's Yesha YadavYesha Yadav, professor and associate dean at Vanderbilt University Law School, joins 'Squawk on the Street' to discuss FTX's bankruptcy fallout, the withdrawal struggles crypto investors face, and the liability questions surrounding Sam Bankman-Fried.

☆ How Catherine Cortez Masto clinched the Nevada seat — and the Senate
▼ + stars: | 2022-11-13 | by ( Natasha Korecki | Natasha Korecki Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +5 min

The campaign's internal data moving into the fall showed that a significant number of Nevadans still didn't know Laxalt's stance on abortion, said an adviser to Cortez Masto. Cortez Masto clinched Nevada, and that clinched control of the Senate for Democrats, overcoming historical trends that punish the party in the White House. Gas and inflation should have spelled disaster for Cortez Masto, as it did for Nevada Gov. Of those who did vote, 62% backed Cortez Masto. Laxalt did dominate the state's 15 rural counties, but there just weren't enough votes to overcome Cortez Masto in Clark and Washoe counties.

☆ FEC flags excessive contributions to Sen. Catherine Cortez Masto and challenger Adam Laxalt in pivotal Nevada race that's still undecided
▼ + stars: | 2022-11-10 | by ( Warren Rojas | ) www.businessinsider.com time to read: +3 min

The FEC is asking questions about campaign contributions to Adam Laxalt and Catherine Cortez Masto. Government watchdog OpenSecrets reports that the Cortez Masto and Laxalt campaigns have raised $52.9 million and $15.5 million, respectively, as of October 19. Campaigns must adequately respond to the inquiries or face potential action by the FEC, including audits, investigations, and fines. The FEC reached out to Warnock rival Herschel Walker's campaign in March regarding excessive contributions from 17 supporters. Cortez Masto has until December 12 to respond to the FEC.

☆ Analysis: Separation anxiety over Renault's five-way split
▼ + stars: | 2022-11-10 | by ( Gilles Guillaume | ) www.reuters.com time to read: +5 min

The main plank of the strategy is the separation of its combustion engine business from its electric vehicle (EV) operation. ELECTRIC PUSHAn early mover in electric cars, Renault has fallen behind newer, more agile rivals such as Tesla (TSLA.O). By teaming up its new businesses with the best available partners, "Renault hopes to win medals in those different sports instead of remaining at an average level in all five", he said. "This contrasts with what some other automakers have said, notably Volkswagen (VOWG_p.DE), Mercedes (MBGn.DE), and Stellantis (STLA.MI), who do not believe in (electric vehicle) business separations," he said. Reporting by Gilles Guillaume Writing by Nick Carey Editing by Silvia Aloisi and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Autos giant Renault is betting the market for gasoline cars will continue to grow
▼ + stars: | 2022-11-09 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

The tie-up with Geely comes as Renault fleshes out plans to establish an EV spin-off called Ampere. According to Renault, France-based Ampere "will develop, manufacture, and sell full EV passenger cars." This was because, Pieton argued, it created "a world-leading supplier of ICE and hybrid powertrains with around 19,000 employees in the world, covering 130 countries." "Manufacturers need to be flexible in their powertrain offerings according to market needs — which differ across the world." The U.K., for example, wants to stop the sale of new diesel and gasoline cars and vans by 2030.

☆ Nissan posts 45% rise in Q2 operating profit, hikes full-year outlook
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

A year earlier it earned 63.4 billion yen. The company raised its full-year operating profit forecast to 360 billion yen from 250 billion yen. That compares with a 335.13 billion yen average forecast by 21 analysts. Renault has a 43% stake in Nissan while the Japanese automaker has a 15% non-voting stake in Renault. Like other Japanese automakers, Nissan has been forced to make adjustment to its production plan due to persistent semiconductor supply disruptions.

☆ Renault CFO: Nissan eyeing equity stake in electric and software unit Ampere
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: 1 min

PARIS, Nov 8 (Reuters) - Nissan (7201.T) is considering taking an equity stake in the Ampere unit, which could be listed on the stock market at the end of 2023, Renault (RENA.PA) chief financial officer Thierry Pieton told an investor presentation on Tuesday. The scale of Renault's planned overhaul- encompassing the gasoline engine business it has code-named "Horse" and the electric one code-named "Ampere" - speaks to the pressure automakers now feel from investors and regulators to quicken their move to electric vehicles, with Europe having effectively banned combustion engines from 2035. Reporting by Gilles Guillaume and Sudip Kar-Gupta, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Renault's joint venture with Geely will employ 19,000 people at 17 powertrain factories and three research and development hubs, the companies said, adding they expect to reach a final agreement and launch the new company in 2023. Renault and Geely will each hold 50%, the companies said in a statement that did not detail other financial terms. Nissan has said it is considering an investment in the Ampere electric venture. Renault and Geely said they expect their new joint venture would supply internal combustion engines and hybrid powertrains to both Nissan and the junior partner in Renault's existing alliance, Mitsubishi Motors (7211.T). Renault and Geely have an existing joint venture in South Korea.

☆ Renault raises planned operating margin goal, but Nissan deal elusive
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

PARIS, Nov 8(Reuters) - French car maker Renault (RENA.PA) said it aimed for an 8% operating margin by 2025 thanks to a plan to split its combustion engine activities from its electric vehicle business, though such a plan still needs the go-ahead from its alliance partner Nissan (7201.T). Renault, ahead of a long-waited investor presentation on Tuesday, set the 8% goal for 2025, with this then raising to more than 10% in 2030, from 5% expected this year. On one hand, it is aiming to revamp its alliance with Nissan and convince the Japanese automaker to invest in a new electric car unit called Ampere. But details have been sketchy so far, and Renault's statement on Tuesday morning only said discussions with Nissan were ongoing. Reporting by Gilles Guillaume; Writing by Silvia Aloisi; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Renault, Geely clinch deal for internal-combustion joint venture
▼ + stars: | 2022-11-08 | by ( Norihiko Shirouzu | ) www.reuters.com time to read: +3 min

The joint venture will employ 19,000 people at 17 powertrain factories and three research and development hubs, the companies said, adding they expect to reach a final agreement and launch the new company in 2023. Renault and Geely will each hold 50%, the companies said in a statement that did not detail other financial terms. Renault and Geely said they expect their new joint venture would supply internal combustion engines and hybrid powertrains to Nissan and the junior partner in Renault's existing alliance, Mitsubishi Motors (7211.T). They said it would have the capacity to supply about 5 million engines and hybrid systems per year once operational. Renault and Geely Automobile also have an existing joint venture in South Korea.

☆ Renault raises profitability targets in business overhaul
▼ + stars: | 2022-11-08 | by ( Gilles Guillaume | ) www.reuters.com time to read: +3 min

Renault's long-standing partner, Japan's Nissan (7201.T) is expected to take a stake in the EV venture, codenamed "Ampere", alongside outside investors, though Renault will keep a majority stake. Shares in Renault fell more than 4% as it gave no details on the state of play of talks with Nissan on the future of their partnership. Aside from the Ampere EV unit and the combustion engine venture, called "Horse", Renault will have an additional three businesses - the Alpine sports-car brand, financial services and new mobility and recycling activities. Using a sports metaphor, he compared the "old" Renault to a pentathlon athlete who would struggle to win gold medals in all five sport specialties. Reporting by Gilles Guillaume; Writing by Silvia Aloisi; Editing by Sudip Kar-Gupta and David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Renault and Google team up to develop a 'software defined' vehicle
▼ + stars: | 2022-11-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The firm's idea of developing a passenger vehicle that uses hydrogen technology is not unique. French automaker Renault is partnering with Google to develop its cars like a tech company makes software. The pact, which expands on a previous collaboration between the two firms, will see Renault commit to making what it calls a "software defined" vehicle using technology from Google's cloud division. Using artificial intelligence, the two companies plan to create a "digital twin" of a new vehicle. The deal will help Renault develop new onboard and offboard applications, the companies said.

REUTERS/Aly SongBEIJING/TOKYO, Nov 7 (Reuters) - Nissan Motor Co's (7201.T) concerns about technology transfers have complicated its partner Renault's (RENA.PA) plans to sell a large stake in its gasoline-engine business to China's Geely (0175.HK), three people familiar with the talks said. Nissan's concerns about technology rights have also been one reason why it has yet to reach a preliminary agreement to invest in Ampere. Renault has a 43% stake in Nissan while the Japanese automaker has a 15% non-voting stake in Renault. People with knowledge of the talks have said the two sides have been discussing a reduction in Renault's stake in Nissan, potentially to 15%. Uchida also said Nissan wanted to see a “fair treatment” of its interests in any new partnership Renault strikes with Geely.

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