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JPMorgan is moving to the sidelines on Comerica ahead of its first earnings announcement following the banking sector crisis. The bank lowered its rating on Comerica shares to neutral from overweight. However, he notes that if the Fed decides not to cut rates, Comerica could have increased revenue growth potential and see its stock outperform the sector. Comerica shares were up 1% during premarket trading Thursday. CMA YTD mountain Comerica shares —CNBC's Michael Bloom contributed to this report.

☆ US first-quarter auto sales set to rise on better inventory
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

But rising interest rates and fears of a recession may play spoilsport in an industry where most vehicle purchases are financed with loans, analysts say. "Consumers are facing credit uncertainty as rapidly rising interest rates have created barriers to entry for even the most qualified buyers," said Jessica Caldwell, executive director of insights at auto research firm Edmunds. The automaker is set to post a 15% rise in first-quarter U.S. sales, while Japanese rival Toyota Motor Corp's (7203.T) sales are likely to fall nearly 10%, when they publish data beginning Monday, according to consultant Cox Automotive. Toyota has continued to struggle with inventory shortages sparked by supply constraints, losing its crown as the top selling U.S. automaker to GM. Trucks and crossover SUVs are expected to account for majority of new retail sales in the quarter, according to automotive data company J.D.

☆ MLB roundup: Kodai Senga shines in debut as Mets down Marlins
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +12 min

[1/2] Apr 2, 2023; Miami, Florida, USA; New York Mets starting pitcher Kodai Senga (34) pitches against the Miami Marlins in the first inning at loanDepot Park. /Rhona Wise-USA TODAY SportsApril 3 - Right-hander Kodai Senga struck out eight batters in his major league debut, leading the New York Mets to a 5-1 win over the host Miami Marlins on Sunday afternoon. Marlins starter Trevor Rogers (0-1) lasted just 4 1/3 innings, allowing four hits, two walks and four runs, three earned. He allowed one run on three hits while walking two and striking out six in his first start of the season. Two of Houck's five hits allowed were home runs by Baltimore's Adam Frazier (3-for-4, two RBIs, two runs) and Cedric Mullins (2-for-5, run, three RBIs).

☆ MLB roundup: Trayce Thompson's 3 HRs power Dodgers' rout
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +10 min

Rangers 16, Phillies 3Mitch Garver hit a pair of three-run home runs in Texas' rout of Philadelphia in Arlington, Texas. Blue Jays starter Kevin Gausman (0-1) struck out seven and walked one in six innings. Nationals starter Josiah Gray (0-1) allowed five runs on seven hits -- including three home runs -- in five innings. Gray (1-0) allowed three hits, struck out one and walked four in the second game of the three-game series. The Rays scored the seven runs on six hits, and Yandy Diaz added two runs with a home run the following inning.

☆ After school shooting, some trans Tennesseans face backlash
▼ + stars: | 2023-03-31 | by ( Jonathan Allen | ) www.reuters.com time to read: +6 min

[1/2] Mykul Coscia, who performs drag as Eazy Love at Play, a night club, poses for a portrait after a deadly shooting at the Covenant School in Nashville, Tennessee, U.S. March 29, 2023. Even before the shooting, many transgender Tennesseans felt villainized by their state's efforts to regulate the lives of gay and trans people, and were increasingly fearful for their safety. Police identified the Nashville shooter as Audrey Elizabeth Hale, and initially referred to Hale as female. Every time there is a school shooting, Story VanNess said she has sleepless nights: she was a special education teacher in a Knoxville school for several years before becoming the director of trans and non-binary programs at Knox Pride. "We've had another school shooting but, because this shooter was trans, that's taken a back seat so politicians can demonize trans people.

☆ Senators unveil new rail safety bill in wake of toxic Ohio derailment
▼ + stars: | 2023-03-30 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +2 min

John Fetterman and Bob Casey of Pennsylvania and Sherrod Brown of Ohio – would build on provisions of the bipartisan Railway Safety Act. Brown and his fellow senator from Ohio, Republican J.D. Norfolk Southern CEO Alan Shaw endorsed parts of the bipartisan bill. The Feb. 3 derailment in East Palestine, Ohio, released toxic chemicals into the environment. Shaw said Norfolk Southern would continue to support cleanup efforts in the area.

☆ Car companies and dealers are so desperate to demystify electric cars that they'll let you drive one for a month before buying
▼ + stars: | 2023-03-27 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Hyundai launched Evolve+ in February, a program that lets the "EV curious" try driving an electric car for a flat monthly rate. Brad Sowers, president at Jim Butler Auto Group in Fenton, Missouri, offers DriveBLACKTIE, a way to help customers try an EV without a major commitment. But automakers and dealers are desperate to speed up EV adoption, as they spend trillions of dollars to develop and launch new electric cars. EV adoption in the US has been slower than elsewhere across the globe due to a lack of public charging infrastructure, inventory availability, cost, and more. Allowing drivers to take home EVs and try them out could help increase education and familiarity with electric cars, with relatively little effort on the part of automakers and dealers.

☆ Manhattan DA Alvin Bragg's ties to billionaire George Soros are not as close as Republicans claim
▼ + stars: | 2023-03-22 | by ( Brian Schwartz | ) www.cnbc.com time to read: +6 min

As Manhattan District Attorney Alvin Bragg moves to bring an expected indictment against Donald Trump, Republicans lawmakers leaping to the former president's defense have fixated on what they call Bragg's ties to billionaire George Soros. There is also no indication the Open Society Policy Center's donation was directed toward an eventual Color of Change campaign to influence Bragg. The funding from Soros' nonprofit was not targeted toward the campaign to support McCarter, the Color of Change official told CNBC. Open Society's website says the group's donation was intended "to support [Color of Change]'s social welfare activities" over the course of five years. Months before Bragg won a 2021 Democratic primary on his way to becoming Manhattan DA, George Soros' son, Jonathan, and his wife, combined to donate $20,000 to Bragg's campaign, state records show.

☆ Norfolk Southern CEO says he supports parts of new rail safety bills
▼ + stars: | 2023-03-22 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +3 min

Norfolk Southern CEO Alan Shaw on Wednesday told senators that his railroad company supports parts of two bipartisan rail safety bills that came in the wake of a derailment last month of a train carrying toxic materials in Ohio. Shaw did not fully endorse the Railway Safety Act, which includes provisions calling for two-person crews on all railroad locomotives. "We're not aware of any data that links crew size with safety," Shaw said Wednesday. "There are significant opportunities for advanced technology to enhance rail safety, and we encourage Congress to consider additional research into on-board rail car defect detection technology." Ohio sued Norfolk Southern last week, seeking damages, civil penalties and a "declaratory judgement that Norfolk Southern is responsible," Attorney General Dave Yost said.

☆ Norfolk Southern CEO told that railroads' planned voluntary safety improvements aren't enough
▼ + stars: | 2023-03-22 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Norfolk Southern CEO Alan Shaw returns to Capitol Hill Wednesday facing pressure to support rail safety legislation proposed in the wake of his railroad’s massive toxic spill from a February 3 derailment in East Palestine, Ohio. “We support legislative efforts to enhance the safety of the freight rail industry,” was the only discussion of the legislation in his prepared remarks. Shaw said the railroad would support increasing fines and penalties for people found tampering with railroad facilities and safety equipment, without endorsing proposals for potential fines on railroads found guilty of safety violations. They said residents who live near freight rail tracks can’t depend on the railroad’s voluntary measures to improve safety. Vance said it is important to raise the maximum fine for rail safety violations from the current limit of $225,455.

☆ Spring training roundup: Max Fried stays unbeaten, Braves blank Twins
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +7 min

Ozuna's home run -- his first of the spring -- came in the third inning and completed the scoring. Twins starter Kenta Maeda (0-1) gave up five runs (all earned) and five hits in four innings. For the Blue Jays, starter Alek Manoah (1-2) gave up one run and five hits in six innings. Rockies 7, Royals (split squad) 0 (six innings)German Marquez tossed five shutout innings as visiting Colorado blanked Kansas City in Las Vegas. Elehuris Montero and Michael Toglia went deep for the Rockies, while Matt Beaty doubled for the Royals' only extra-base hit.

☆ Spring training roundup: Nats score 8 in ninth to beat Astros
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +5 min

Blake Rutherford hit an RBI single, Cody Wilson -- who pinch-ran for Arcia -- hit a two-run double and Vargas singled home Wilson. The Yankees had 15 hits, led by Wilmer Difo (2-for-4, home run), Benjamin Cowles (homer) and Estevan Florial (2-for-4, three RBIs). Cardinals 16, Marlins 2Masyn Winn went 3-for-4 with four RBIs and Willson Contreras doubled and went 2-for-3 with three RBIs as St. Louis throttled Miami in Sarasota, Fla. The Cardinals collected 17 hits, with Dylan Carlson contributing two hits, two RBIs and two runs. The Marlins' Jerar Encarnacion went 2-for-3 with one RBI.

☆ Your car probably isn't worth as much as you think. Here's how to know what it's really worth.
▼ + stars: | 2023-03-18 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

During the peak of car inventory problems, drivers could have traded in used cars for thousands. Meanwhile, the average transaction price for a used vehicle peaked at $31,300 in April 2022, J.D. But, "These used car values have been dropping over the last year. Car buying won't ever revert to normal, but that's all to say, it's no longer the best environment to get thousands of dollars for your used car that's probably worth a lot less (no offense). "While we've seen some cooling since their peak, used prices remain extremely elevated still," Paris said.

☆ EV owners are increasingly frustrated with home charging, and it should worry every electric car maker
▼ + stars: | 2023-03-16 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

EV owners need to learn more about cost-saving options for home charging. Power study of EV owners who use Level 2 home-charging stations found that overall satisfaction in the home charging experiences has declined 12 points since last year. Where you are and what you drive mattersGeography played a role in overall satisfaction levels with home charging, J.D. Only about half of EV owners in the study said they had an understanding of their local utility company programs for home charging. "This can snowball into helping potential EV owners make a more informed purchase decision, as well as minimizing home charging concerns and supporting greater EV adoption," Chung said.

☆ Buying a car won't ever go back to normal — so you might as well buy now
▼ + stars: | 2023-03-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +7 min

What makes it a good idea to buy a car right now? It's important to remember that car buying is probably never going back to "normal." Used prices are expected to go back up again, creating a short window of opportunity. As for interest rates: It's hard to say what will happen in the long run. A cash buyer ready to undertake sufficient due diligence can certainly get a solid deal in today's car market."

☆ 9 questions you should always ask when buying a car
▼ + stars: | 2023-03-15 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

Many of the car brands with more inventory on lots than others might also have higher loan payments. "The role of a dealer isn't just to sell them a car, it's to help them find the lowest interest rate possible, and that's both new car dealers and used car dealers. "Even based on the specific car, one bank may provide a lower interest rate on a specific sort of make and model." The used car market might be even more complicated for car shoppers than the new market right now. As a result, far fewer car shoppers have opted to lease a car in recent years.

REUTERS/Gaelen MorseCompanies Norfolk Southern Corp FollowMarch 14 (Reuters) - The state of Ohio sued Norfolk Southern (NSC.N) Tuesday over the Feb. 3 derailment of a freight train that released over a million gallons of hazardous materials and pollutants into the environment around the town of East Palestine. Since the Ohio derailment caused cars carrying toxic vinyl chloride and other hazardous chemicals to spill and catch fire, Norfolk Southern has been under pressure over a number of train derailments. Last week, Norfolk Southern CEO Alan Shaw was sharply questioned at a U.S. Senate hearing and will appear at another March 22 rail safety Senate hearing. Those suits claim Norfolk Southern was negligent and has created a nuisance for residents, among other claims for liability. Last week, Norfolk Southern agreed to create a new first responders training center and expand a training program in Ohio.

☆ Why EV dealers might try to coax you into a 6-month lease
▼ + stars: | 2023-03-13 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Only used electric cars priced under $25,000 can qualify for a used EV tax credit. Automakers might offer shorter lease terms on new EVs to get those cars into the used market sooner. And automakers and dealers, in anticipation of what the used EV tax credit can do for them in terms of spurring demand with customers who might not consider an EV otherwise, might adjust their EV lease contracts accordingly. But for other, cheaper models, automakers want to profit off those cars as much as possible, so that might mean some unconventional lease terms. That gives customers the opportunity to lease an EV for a short period of time and makes the used EV market more accessible.

☆ 31% of new cars sold for above sticker price last month. These 10 models have the biggest premiums
▼ + stars: | 2023-03-10 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

An estimated 31% of new vehicles were sold above MSRP last month, according to a joint forecast from J.D. On average, new autos are priced 8.8% above the manufacturer's suggested retail price, or MSRP, according to new research from iSeeCars.com. The biggest premiums paid are for luxury vehiclesAs for which cars are priced the most above MSRP: Most of them are luxury models, according to the iSeeCars study. Coming in first for the highest premium is the Genesis GV70, whose average price of $56,476 is 27.5% above an MSRP of $44,299. For instance, the Chevrolet Silverado 1500 comes with an average price of $50,116, which is 1.9% below an MSRP of $51,103.

☆ You'll likely pay more and wait longer for repairs to your electric car
▼ + stars: | 2023-03-10 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

If car-buyers can only go to a dealer for service, that might mean longer waits and more expense. What's going on with vehicle repair today? So you can imagine if independent repair shops didn't have the opportunity to work on vehicles." "The industry has been hyper-focused on launches and now these customers are bringing their electric vehicles in for maintenance and repairs." "The EV segment has the potential to spur massive convenience improvements in how customers service their vehicles — but we're not seeing the benefits yet," Sutton added.

☆ Live updates: East Palestine, Ohio train derailment Senate hearing
▼ + stars: | 2023-03-09 | by ( Chris Isidore | Aditi Sangal | ) edition.cnn.com time to read: +2 min

In the lead-up to a Senate committee hearing on the toxic train derailment that spilled chemicals in the Ohio town of East Palestine last month, a bipartisan group of senators is introducing a new bill aimed at shoring up rail safety. The Railway Safety Act of 2023 will be introduced by Republican Sens. Vance of Ohio, Marco Rubio of Florida and Josh Hawley of Missouri, and Democratic Sens. It has a provision requiring “well-trained, two-person crews aboard every train.” And it boosts the maximum fines for rail carriers for wrongdoing. Data compiled by the nonprofit OpenSecrets show that Norfolk Southern, the company involved in the Ohio derailment, spent $1.8 million on federal lobbying last year.

☆ Norfolk Southern CEO to tell senators how he plans to 'make it right' after Ohio derailment
▼ + stars: | 2023-03-09 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +5 min

Drone footage shows the freight train derailment in East Palestine, Ohio, U.S., February 6, 2023 in this screengrab obtained from a handout video released by the NTSB. Norfolk Southern CEO Alan Shaw will tell a U.S. Senate panel Thursday how he plans to "make it right" after one of the company's trains derailed in East Palestine, Ohio, last month. Other committees in Congress are also investigating the East Palestine derailment. On Saturday, another Norfolk Southern train derailed in Ohio, after which residents near Springfield were ordered to shelter in place. Hours after that derailment, internal emails obtained by CNBC indicated that Norfolk Southern was making broad safety adjustments to prevent future incidents.

☆ Automakers are using a legal loophole to get customers an extra $7,500 tax credit — and business is booming
▼ + stars: | 2023-03-09 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Automakers might pass along the commercial EV credit to customers that lease their EVs. Last summer's Inflation Reduction Act introduced rules for new and used EVs to qualify for crucial tax credits. Startup Lucid, along with at least 10 "traditional" automakers, are leveraging the commercial credit, according to data from J.D. Meanwhile, automakers are interested in leasing EVs in part due to the commercial and used EV tax credits. Being able to pass along the commercial EV credit could bring in customers that might not have otherwise considered electric.

☆ Automakers abandoned the 'starter car' — and it's raising prices for everyone
▼ + stars: | 2023-03-07 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Many car companies are prioritizing high-profit vehicles over starter cars. Though those figures are averages, it's clear that lower-end vehicles are more costly than they used to be — a direction automakers have been moving in for years. "There is definitely a void happening in the market for those vehicles," Kunes added. What car buyers can look out forThe used market isn't much better, Kunes noted — the average used vehicle transaction price was $29,226 last month, per J.D. Power — "which really puts a lot of pressure on that lower-end market, and there's no manufacturers really stepping up to fill that void."

☆ The days of sky-high trade-in values are over. Here's how to tell what your car is worth.
▼ + stars: | 2023-03-07 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

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