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☆ What is a catalytic converter and why do people keep stealing them?
▼ + stars: | 2024-05-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

CNN —Johnny Wactor, an actor who formerly starred in “General Hospital,” caught people in the act of stealing the catalytic converter from his car Saturday. But, up to last year, catalytic converter thefts had been rising sharply, up by a factor of four, since 2020. A catalytic converter cleans a car’s exhaust, making the air safer to breathe for all of us. On its website, the US Environmental Protection Agency has called the catalytic converter “one of the great environmental inventions of all time.” But it’s not what the catalytic converter does that attracts desperate criminals. For the most part, the catalytic converters end up getting sold to recycling companies that strip out the materials to make new catalytic converters.

Persons: Johnny Wactor, ”, Wactor, It’s, they’ve, Richard Waitas, That’s, Scott Vollero, Christopher Gaines, you’ve, it’s Organizations: CNN, “, National Insurance, US Environmental Protection Agency, National Automobile Dealers Association, Recycling Locations: Angeles, California

☆ US tells owners to stop driving older Nissan vehicles over air bag concerns
▼ + stars: | 2024-05-29 | by ( ) edition.cnn.com time to read: +2 min

Owners of nearly 84,000 older Nissan vehicles in the United States equipped with recalled, unrepaired Takata air bags should immediately stop driving them due to a safety hazard, the US National Highway Traffic Safety Administration said on Wednesday. “If you have one of these vehicles, do not drive it until the repair is completed and the defective air bag is replaced,” NHTSA said in a statement, noting that Nissan dealers are offering free towing, mobile repair and in some places loaner vehicles. Over the past decade, more than 100 million Takata air bag inflators have been recalled worldwide - including 7 million in the United States - in the biggest auto safety callback on record. The air bag problems have been blamed on propellant that can break down after long-term exposure to high-temperature fluctuations and humidity. Toyota in January urged owners of 50,000 of its older vehicles - the 2003-2004 model year Corolla, 2003-2004 Corolla Matrix and 2004-2005 RAV4 - in the United States to get immediate recall repairs because a Takata air bag inflator could explode and potentially kill motorists.

Persons: unrepaired, Stellantis, Dodge Organizations: Nissan, Traffic Safety Administration, Nissan Sentra, Nissan Pathfinder, NHTSA, Chrysler, Toyota Locations: United States

☆ Dollar firm ahead of global inflation data
▼ + stars: | 2024-05-27 | by ( ) www.cnbc.com time to read: +4 min

The dollar made a steady start to the week, as investors were focused on U.S., European and Japanese inflation data to guide the global interest rate outlook. The euro , which gained 0.9% on the dollar last week, was in the middle of a range it has held for more than a year at $1.0846. German inflation on Wednesday and euro zone readings on Friday will be watched for confirmation of a European rate cut that traders have priced for next week. The dollar had fallen back after data showed a slowdown in consumer price rises in April and disappointing retail sales, before strengthening last week thanks to better-than-expected PMI survey data. China's yuan finished last week weaker than 7.24 per dollar, its lowest level since early May.

Persons: Sterling, Bob Savage, BNY, China's, Scott Gold, would've, Justin D'Anethan Organizations: New, U.S, Federal, Swiss, Tokyo CPI Locations: Britain, United States, U.S, Asia, New York

☆ This Memorial Day kicks off a buyer’s market for new cars
▼ + stars: | 2024-05-24 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —Memorial Day weekend is shaping up to offer some of the best deals on new cars in years. The new car market is finally a buyer’s market again. The Volkswagen ID.4 and Kia Niro EV, for instance, are selling at average discounts of more than 13%, according to Edmunds.com. Vehicles from the outgoing 2023 model year now account for 6.8% of all new vehicles on dealers’ lots, according to Edmunds.com. Dealers for Stellantis brands – Dodge, Chrysler, Jeep and Ram – are offering the biggest discounts, according to Edmunds.com.

Persons: Covid, Cox, ”, Eric Barbosa, we’ve, “, Barbosa, –, Ram –, Edmunds, Ivan Drury, Brian Finkelmeyer, Brian Moody, Kelley Organizations: CNN, Toyota, Ford, Ford Bronco, Cox Automotive, GMC, Volkswagen, Kia Niro, Cavender Auto Group, Vehicles, Dealers, – Dodge, Chrysler, Jeep, Dodge, Lincoln Nautilus, Consumers, Honda, Kia, Autotrader Locations: San Antonio , Texas, Edmunds

☆ Wall Street is about to see its biggest trading change in years
▼ + stars: | 2024-05-24 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Buying or selling a stock is about to get a lot snappier starting next Tuesday. But that doesn’t mean it’ll get smoother, at least right away — and some financial firms are preparing to handle any possible bumpiness. Clearinghouses, which sit between buyers and sellers, collect margins from traders as evidence that they can afford to make the transaction. Baird has had a T+1 committee in place since last summer to ensure such hiccups don’t happen, Lee said. “The existing two-day period to settle trades exposes investors and the industry to unnecessary risk and is ripe for change,” Robinhood CEO Vlad Tenev said in a February 2021 release.

Persons: “, That’s, ” Gary Gensler, ”, Rich Lee, Baird, Lee, Reddit, Vlad Tenev, Max, Gregory Wallace, Brian West, Mike Whitaker, ” “, ” Whitaker, Read, Meta, that’s, Clare Duffy, Patrick Collison, Nat Friedman, Tobi Lütke, Charlie Songhurst, White, OpenAI Organizations: CNN Business, Bell, New York CNN, Securities and Exchange Commission, Employees, GameStop, AMC Entertainment, AMC, Robinhood, Investors, Boeing, FAA, Federal Aviation Administration, Wolfe Research, ABC, Microsoft, Meta Locations: New York, OpenAI

☆ TSA agents think the crew-member lane at airports is a huge security flaw that staff abuse for smuggling
▼ + stars: | 2024-05-23 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Read previewAirport security officers have concerns over the special crew-member lanes that enable flight attendants and airline pilots to bypass typical passenger screening procedures. However, former and current TSA agents told Business Insider the lanes were "terrible" and that cabin crews could be "a bigger flight risk than the passengers themselves." 'KCM should be eliminated'TSA agents told BI these stories of cabin-crew wrongdoing "completely breach the trust that we put in them." "Transportation Security Officers conduct security screening for prohibited items at airport checkpoints and checked baggage screening," a TSA spokesperson told BI. However, Harmon-Marshall said airlines should do a better job of educating their crews about the dangers of the program, particularly when a flight crew is walking around in their uniforms.

Persons: —, John F, Charlie Hernandez, Sarah Valerio Pujols, Emmanuel Torres, Jarol Fabio, Dennis Ring, Marsha Gay Reynolds, Ben Schlappig, Schlappig, Caleb Harmon, Marshall, Harmon, there's, they'll, they're, they'd Organizations: Service, Transportation Security Administration, Airlines for America, Air Line Pilots Association, International, Business, TSA, Kennedy International, Prosecutors, Delta Air Lines, NBC News, New York Post, Airlines, America, Transportation Locations: New York

☆ GM all-electric Chevy Equinox goes on sale as the latest test for EV production and demand
▼ + stars: | 2024-05-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

The Equinox EV is launching with higher-priced models that start at roughly $43,000 to $51,100 (without any incentives). The Equinox EV is arriving to market following the Blazer EV and alongside GM's more than $96,000 Silverado EV RST. Equinox EVAll of that being said, the Equinox EV is an Equinox in name only. Outside of the U.S., the Equinox EV will be sold in Canada, Mexico, the Middle East and some South American markets such as Brazil. GM's 2024 Chevrolet Equinox EV (right) next to a gas-powered Chevy Equinox on May 16, 2024 in Detroit.

Persons: Michael Wayland, Mark Reuss, Tesla, Kathleen Murawski, Chevy Bolt, It's, We've, Rory Harvey, we've, Marissa West, West, Paul Waatti, Waatti Organizations: CNBC DETROIT, General Motors, GM, CNBC, Chevy, GMC Hummer EV, Blazer, Global, Silverado EV RST, Silverado, GM North America, Chevrolet, Motors, EV Locations: Detroit, China, U.S, Canada, Mexico, Brazil

☆ Federal appeals court rejects Hunter Biden’s latest bid to pause gun trial
▼ + stars: | 2024-05-21 | by ( Marshall Cohen | ) edition.cnn.com time to read: +3 min

CNN —A federal appeals court on Tuesday rejected the latest attempt by Hunter Biden to pause his upcoming gun trial while the president’s son pursues some long-shot appeals. The quick decision came from the same three-judge panel that previously rejected one of Hunter Biden’s attempts to throw out the indictment. This is one of several bids by Hunter Biden to slow down or postpone his gun trial. Hunter Biden testified at a court hearing last year that he has been sober since 2019. That trial is scheduled for late June, a few weeks after the gun case is expected to wrap up.

Persons: Hunter Biden, Hunter Biden’s, Joe Biden, hasn’t, David Weiss, he’s, Weiss, Hunter, Beau Biden, Prosecutors, Weiss ’, Hallie Biden, Biden’s, Beau, Hallie Biden’s, ” Weiss ’, Stuart Goldberg Organizations: CNN, Republican, Democratic, Justice Department, Justice Locations: Delaware, California, Los Angeles

☆ Britain’s election campaign hasn’t started yet, but the mudslinging is well underway
▼ + stars: | 2024-05-18 | by ( Luke Mcgee | ) edition.cnn.com time to read: +7 min

He lost two general elections as Labour leader in campaigns that focused heavily on his views regarding national security. The context for Sunak’s attack on Starmer is that the UK will vote in a general election at some point this year. “Of course Rishi doesn’t believe that Starmer himself is a threat to national security,” a senior Conservative told CNN. It’s just ridiculous and it clearly winds him up when we point it out.”No one knows for sure when the election campaign proper will start. Until then, Britain is braced for months of mudslinging between Sunak and Starmer.

Persons: Rishi Sunak, Keir Starmer, Sunak, Starmer, –, Jeremy Corbyn, Corbyn, Toby Melville, Rishi doesn’t, ”, ” David Gauke, ” Gauke, ” Starmer, “, ” Keir Starmer, Leon Neal, cynically, won’t, It’s Organizations: CNN, British, Labour Party, Labour, PM, NATO, Conservative, Conservative Party, “ Locations: Britain, Russia, Iran, North Korea, Rwanda, Gaza, Sunak

☆ Auto incentives are back — but high interest rates weaken deals for buyers
▼ + stars: | 2024-05-16 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Simonskafar | E+ | Getty ImagesIncentives are coming back to the auto market, but high interest rates are weakening those deals for car shoppers. In today's market, consumers are more likely to see it as "free money," she said, especially as auto loan rates stay high. watch nowWhen you roll that into your new car loan, it increases your payment. Search for available incentives: Car shoppers will have to a do lot more shopping and research to find available incentives, Caldwell said. Know your credit score: While shoppers might come across 0% financing offers, those deals are often reserved for buyers with excellent credit.

Persons: Jessica Caldwell, Trump, Brian Moody, Kelley, Edmunds, Caldwell, That's, that's, Moody Organizations: Getty, Finance, Biden Locations: Edmunds

☆ Curfew Imposed Amid Protests in Pacific Territory of New Caledonia
▼ + stars: | 2024-05-14 | by ( Yan Zhuang | More About Yan Zhuang | ) www.nytimes.com time to read: +1 min

The authorities in New Caledonia, a semiautonomous French territory in the South Pacific, put a curfew in place on Tuesday and banned all public gatherings after protests against a proposed constitutional change turned violent overnight. France’s High Commission of the Republic in New Caledonia announced on Tuesday that a “massive mobilization” of security and defense forces has been sent to quell the protests. In addition, a curfew was imposed in the capital, Noumea, for Tuesday night, and all public gatherings were banned along with the sale of alcohol and the transportation of weapons, the High Commission said. The latest protests started on Monday, before a scheduled Tuesday vote in the French Parliament on a change to New Caledonia’s Constitution that would expand French citizens’ eligibility to vote in provincial elections. Some pro-independence activists in the territory fear the amendment would water down their movement.

Organizations: High Commission Locations: New Caledonia, South, France’s, Republic, Noumea

☆ Stellantis to rapidly grow exports of Chinese EVs to Europe, other countries
▼ + stars: | 2024-05-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

That's due, in part, to new American tariffs on China-made EVs, Tavares said, citing among other reasons as well. The Biden administration on Tuesday announced stiff new tariff rates on billions' worth of Chinese imports, including quadrupling tariffs on imported Chinese electric vehicles, from 25% to 100%. The joint venture's expansion plans include at least six EVs by 2027, according to a presentation by Stellantis and Leapmotor. The announcement comes amid increasing geopolitical tensions surrounding China-made electric vehicles in the U.S., Europe and other regions. Many in and around the automotive industry fear the less-expensive, China-made vehicles will flood the markets, undercutting domestic-produced EVs.

Persons: Carlos Tavares, Zhu Jiangming, EVs, Tavares, Biden, " Tavares, Stellantis Organizations: Stellantis, Leapmotor, Europe —, Asia Pacific Locations: China, Europe, Europe — France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, Romania, East, Africa, India, Asia, South America, U.S, Hangzhou

☆ Why are hundreds of Teslas parked outside a dying shopping mall? A local news station solved the mystery.
▼ + stars: | 2024-05-14 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Read previewChesterfield Mall, set to shut down in October, has become an unexpected parking lot for hundreds of Tesla vehicles over the last few months. The Teslas, including Cybertrucks, parked outside of the Chesterfield, Missouri, shopping spot puzzled people passing by, especially as the number of EVs seemed to increase over time. According to the report, Tesla is storing unsold vehicles at the mall until it shuts down. Staenberg said Tesla has occupied the space for about six or seven months and can stay until the mall closes in October. Inventory lots aren't uncommonTesla isn't the only car brand to store its unsold vehicles outside a dealership.

Persons: —, Michael Staenberg, Tesla, Staenberg, Tim Lowe, KTVI, General Motors, ramping Organizations: Service, Business, Chesterfield Mall, Ford's, Plant, General, oversupply, Cox Automotive, EV Locations: Chesterfield , Missouri, Chesterfield, Ford's Michigan, Wayne, Grand Blanc , Michigan, Berlin

☆ Furniture flippers are getting roasted online for painting vintage wood pieces 'millennial gray'
▼ + stars: | 2024-05-12 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +9 min

How do you feel about painted furniture?" Halfpoint Images/Getty ImagesDemand is up for vintage wood furniture — without paintPart of the backlash certainly stems from the current state of the furniture industry, in which it's increasingly difficult to get your hands on brand-new, high-quality furniture. As a result, the secondhand furniture market is booming, with vintage furniture sellers proliferating on places like Instagram and Facebook Marketplace. The flippers said most of the hate comments tend to come from flips of midcentury modern furniture, in particular, a beloved and lasting design aesthetic from around roughly the 1930s to 1970s. Despite all the vocal online haters of painted furniture, there's a reason furniture flippers do it: the pieces sell.

Persons: —, Christina Clericuzio, grandma, Clericuzio sanded, Clericuzio, TikTok, Jennifer Beck, flipper, Gen Z, it's, she's, she'd, Beck, It's, Mike Coleman, he's, Coleman, Christina Clericuzio's Organizations: Service, Business, United Furniture, Facebook, The Washington Post, Big, Ikea Locations: Connecticut, Tennessee, Anthropologie, Mesa , Arizona, Chicago

☆ An art market full of cracks is about to face a $1 billion test
▼ + stars: | 2024-05-10 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Art auction sales at Christie's, Sotheby's and Phillips over the next two weeks are expected to total $1.2 billion, down 18% from a year ago and nearly half the total for the May 2022 sales, according to ArtTactic. It extends a recent decline for the art market from its post-Covid peak, when cheap money, a booming stock market and fiscal stimulus saw record sales. It's the buyers showing up and what the work will sell for that will define our perception of the art market right now. Price pressuresDealers and art experts say the auction art market is stalled over price, with sellers not willing to get a lower price than they might have gotten at the peak of the market in 2021-2022. "The question they're asking is, 'Should we buy in to the art market right now?'"

Persons: Robert Frank, Phillips, Paul Allen, Brooke Lampley, Buyers, Sellers, Philip Hoffman, CNBC's Robert Frank, Andy Warhol, Jean, Michel Basquiat, Crystal Lau, Andrew Fabricant, It's, Hoffman, Francis Bacon's, George Dyer, Bacon, Dyer, Michel Basquiat's Organizations: Sotheby's, Fine Art Group, CNBC Dealers, CNBC Locations: —, Gagosian

The three companies collectively operate 75 U.S. casinos that permit indoor smoking, where state law allows. States like Nevada and New Jersey have prohibited indoor smoking more broadly, but carved out exceptions for casinos. Legislation to end indoor smoking at casinos is in various stages in several states across the country, including New Jersey, Pennsylvania and Rhode Island. Advocates for smoking bans point to research by C3 Gaming that concluded smoke-free casinos generate more revenue and outperform competitors that allow smoking. In Las Vegas, MGM Resorts opened the first casino resort on the Strip to prohibit indoor smoking and even smoking on the pool deck.

Persons: Boyd, Bally's, it's, Jan Jones Blackhurst, we've, Marc Oppenheimer, we're, it'll Organizations: Boyd Gaming, Bally's Entertainment, Caesars Entertainment, Trinity Health, Nonsmokers, Rights Foundation, Trinity, Caesars, The Securities, Exchange Commission, C3 Gaming, SBC, North, United Auto Workers, Disease Control, U.S, CNBC, Las Vegas, MGM Resorts, MGM Locations: Livonia , Michigan, Bally's, U.S, Nevada, New Jersey, New Jersey , Pennsylvania, Rhode Island, North America, United States, Pennsylvania, Bensalem, Philadelphia, Las

☆ A port-in-the-storm trade if the consumer continues to get pinched by rates and inflation
▼ + stars: | 2024-05-09 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

The consumer, making up 70% of the U.S. economy, is being hit by higher interest rates and sticky inflation. Consumer spending, also known as personal consumption expenditures (PCE), typically represents about two-thirds of the U.S. GDP. While that is attributed to easing consumer demand for EVs, dealer inventories of ICE vehicles have recovered significantly since the pandemic. Away from consumer discretionary and towards consumer staples. The Consumer Staples Select Sector ETF (XLP) is trading 21 times trailing earnings and about 19.6 times forward earnings estimates versus 25.7 times trailing and 22.83 times forward for the Consumer Discretionary Select Sector Index.

Persons: there's, Tesla, Power Organizations: Starbucks, Investors, PPI, CPI, Federal Locations: U.S

☆ John Leguizamo on His Best Movie Roles: 'Carlito's Way,' 'Encanto'
▼ + stars: | 2024-05-07 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +11 min

Before John Leguizamo was an acclaimed writer, director, and film star, he was a young Latino actor just trying to get into audition rooms. On turning down 'Carlito's Way' multiple times and becoming a leading man(L-R) Al Pacino and John Leguizamo in "Carlito's Way." UniversalYou've spoken before about turning down "Carlito's Way" a few times before you eventually made the call to sign on. John Leguizamo as Luigi in "Super Mario Bros." (1993) Warner BrosOn doing too many 'ice movies' and feeling dissed by 'Mr. On 'Sigma male' Bruno and getting a bonus for 'Encanto'Maribel and Bruno (voiced by John Leguizamo) in "Encanto."

Persons: John Leguizamo, Leguizamo, Brando, James Dean, Shakespeare, William Goldman, Benny Blanco, Luigi, Mario, he's, He's, Al Pacino, I've, Benicio, Annabel Jankel, Rocky Morton, Mr, Smith, you've, Wears, Stanley Tucci, Robin Williams, Vince Vaughn, Sid, Sloth, Fox, —, Mike Berg, Peter Ackerman, Chris Wedge, Philip Seymour Hoffman, Ben Stiller, Ray Romano, Denis Leary, Michael Keaton, would've, hadn't, Bruno, Coco, that's, Lin, Manuel Miranda, Spike Lee, Sam, Mel Blanc, I'd Organizations: Broadway, New York Daily News, Warner Bros, Marvel, Sigma, Walt Disney Animation, Disney, Cannes, HBO Locations: Jackson Heights , Queens, Toro, Puerto Rican

☆ Can Philadelphia Fix One of the Most Drug-Plagued Neighborhoods in the Country?
▼ + stars: | 2024-05-07 | by ( Campbell Robertson | Rachel Wisniewski | ) www.nytimes.com time to read: +1 min

The vow was unequivocal: The city of Philadelphia was finally going to root out the drug trade that has long monopolized the streets of Kensington. Antonio Alvarez, 58, surrounded by grandchildren on his porch, believed the drug market would go quiet, temporarily, and then return as it always had. Harris Steinberg, 57, standing at the counter of his auto parts shop, said that everything along Kensington Avenue — the tents, dealers and stray needles — was already moving to the neighborhood’s back streets. But, she said, she was stuck on a waiting list for a shelter bed. No one except the drug dealers said that they were happy with how things were in Kensington, one of the most sprawling areas of open drug use and dealing on the East Coast.

Persons: Antonio Alvarez, Harris Steinberg, — Locations: Philadelphia, Kensington, Elizabeth, East

☆ The US crackdown on Russian trade is working as Putin struggles to fund his war
▼ + stars: | 2024-05-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Trade with Russia has slumped in the first quarter amid tightening US sanctions, the Financial Times said. After a December executive order bolstered its sanctioning power, the department has amplified warnings against foreign lenders that facilitate trade with Russia. At the same time, the US' crackdown has proliferated trade in the Russian ruble, as other currencies increasingly fall out of favor. That's as foreigners are still free to buy rubles on the Moscow Exchange when settling payments with Russian parties. AdvertisementStill, the ruble faces restricted convertibility, making it difficult to reach trade volumes once possible under the dollar.

Persons: —, Vladimir Potanin, That's Organizations: Financial Times, Companies, Service, US Treasury Department, United Arab Locations: Russia, China, Turkey, Ankara, United Arab Emirates, Austria, Russian, Iran, Tehran, Moscow, UAE, dirhams

☆ Missing surfers: Bodies found in Mexico confirmed as those of missing American and Australian tourists
▼ + stars: | 2024-05-05 | by ( Kathleen Magramo | Karol Suarez | ) edition.cnn.com time to read: +2 min

CNN —Three bodies found dumped in a well with gunshot wounds to the head have been confirmed as missing tourists, including a US citizen, Mexican authorities said Sunday. Relatives of American Jack Carter Rhoad and Australian brothers Jake and Callum Robinson identified their bodies without having to perform genetic tests, the Baja California Attorney General’s office said in a statement on Sunday. The vehicle was confirmed to be the same one Callum Robinson posted an image of on Instagram a week before the trio went missing. Photos of the American and Australian surfers on a beach in Ensenada, Mexico on May 5, 2024. In 2015, the bodies of Australian surfers Dean Lucas and Adam Coleman were found in a burned-out van in Sinaloa state.

Persons: Jack Carter Rhoad, Jake, Callum Robinson, Jesús Gerardo “, “ El, Maria Elena Andrade Ramirez, “, ”, Karen Castaneda, Dean Lucas, Adam Coleman Organizations: CNN, Ministry, Foreign Ministry, Authorities Locations: California, Ensenada, Tijuana, Baja California, Santo Tomas, Instagram, Mexico, Sinaloa

☆ Autos analysts pick who can survive China’s cut-throat EV market
▼ + stars: | 2024-05-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Investment analysts are coalescing around a few potential winners in China's car market after a 10-day auto show in Beijing put the ferocious competition on full display. "This year, we notice[d] a meaningful amount of foreign visitors who are Chinese brands' overseas dealers or importers," JPMorgan analysts said. Open to the public After two days of restricting access only to business and media, the Beijing auto show opened to the general public. Jefferies' analysts estimate the policy could boost China's passenger vehicle sales by 1 million units this year, evenly split between electric and gas-powered models. The analysts highlighted their Chinese car stock picks as Leapmotor, Geely and BYD, all rated buy and listed in Hong Kong.

Persons: Nick Lai, BYD, Tesla, hasn't, Elon Musk, Nezha, Asensing, Zhang Haizhou, Morgan, Lei Jun, Xiaomi, Jefferies, Bank of America Merrill Lynch, Leapmotor, — CNBC's Michael Bloom Organizations: Asia Pacific, JPMorgan, Porsche, Apple Vision, Brands, Mazda, Auto, Morgan Stanley Asia Pacific, EV, Bank of America, Trade, Ministry of Commerce, Volkswagen, VW, Toyota Locations: Beijing, China, Asia, Europe, Nio, Zhejiang, Hong Kong

☆ How to buy your first luxury watch
▼ + stars: | 2024-05-03 | by ( Christy Choi | ) edition.cnn.com time to read: +9 min

Learn the lingoJust like buying a car, there are some technical terms prospective watch buyers can benefit from knowing. Parts of the watchCrown: Small knob found on the side of the watch used to change the date and time. Automatic movement: A mechanical watch that does not need a battery to move, it relies on movement from the wearer to wind. Buy a watch for the right reasons and consider what you need from itDon’t get sucked into hype around a watch. See if the designer made any othersWhile on the lookout for a watch to wear to his wedding, Pang saw a six-figure Audemars Piguet watch.

Persons: you’ve, it’s, Patek Philippe, Cartier, Vacheron Constantin, Sotheby Asia’s, Joey Luk, Charles Frodsham, “, ”, Johnathan Chan, you’re, Helbert Tsang, Tim Stracke, don’t, Luk, Carlos Pang, Pang, Gerald Genta, Chan, … Organizations: CNN, Rolex, Horology, Facebook, IWC, ” Locations: haute, Hong Kong, Geneva

☆ China's automakers must adapt quickly or lose out on the EV boom in the face of regulatory scrutiny abroad and competition at home
▼ + stars: | 2024-05-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The automaker is the joint venture partner of Honda and Toyota in China, and has an electric car brand called Aion. Expanding outside ChinaLike other automakers in China, GAC is also turning overseas. China's overseas car sales surged last year, putting the country on par with Japan as the world's largest exporter of cars. Dyer expects that to drive overseas demand for Chinese electric cars. Chinese consumers placed almost twice as much importance on tech features compared with U.S. consumers, Dyer said, citing AlixPartners' survey.

Persons: Evelyn Cheng, Tesla, Feng Xingya, Feng, Wei Haigang, Wei, Stephen Dyer AlixPartners, There's, Stephen Dyer, AlixPartners, Dyer, BYD, Nio, CATL, Zhong Shi Organizations: CNBC, GAC, Labor, Huawei, Honda, Toyota, China Passenger Car Association, EU, U.S, Factories, Greater China Business U.S, Ministry of Commerce, Tech, Volkswagen, SAIC Motor, Battery, China Automobile Dealers Association, Automotive, Robotics, Lotus Technology, Geely Locations: Beijing, Evelyn Cheng BEIJING, China, East, Mexico, Japan, Malaysia, Thailand, Egypt, Brazil, Turkey, Amsterdam, Greater China, Asia, U.S, Europe

☆ Costco members can save $1,000 or more on an EV from GM, Volvo, or Polestar this summer
▼ + stars: | 2024-05-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

This summer, the wholesale club is swinging big with $1,000 or more off EVs from four brands. There is one catch though: the deal is only available to people who were Costco members as of April 30. AdvertisementOne of the under-appreciated perks of a Costco membership is big savings on new cars. This summer, Costco is swinging big with $1,000 or more off EVs from four brands. From now until July 31, Costco members can take $1,000 off the price of a Cadillac Lyriq, Chevy Equinox EV, Chevy Blazer EV, Volvo C40 Recharge, or Volvo XC40 Recharge.

Persons: — Organizations: Costco, Service, haggling, EV, Blazer EV, Volvo

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