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☆ Nissan, Renault to invest $600 million to make 6 new models in India
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike BlakeTOKYO, Feb 13 (Reuters) - Nissan Motor Co (7201.T) and Renault SA (RENA.PA) said on Monday they would invest $600 million to make six new models in India, one of three markets in which the two automakers plan to coordinate closely in a revamped alliance announced last week. Two models would be electric vehicles (EVs), the companies' first in India; the others would be sports utility vehicles. Unlike Nissan, Renault does not have a significant presence China, the United States and Japan, raising the stakes for its success in India. Industry-wide sales in India surged 23% last year to 4.4 million vehicles, overtaking the Japanese market, according to S&P Global Mobility. The Chennai plant can produce about 500,000 vehicles a year, but last year Renault sold only 87,000 in India and Nissan 35,000.

☆ Nissan and Renault Fix One Problem, Leave Others
▼ + stars: | 2023-01-30 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

A new era for the unhappy marriage of Nissan and Renault brings hope but also complications. On Monday, the two auto makers announced a shake-up of the cross-shareholdings that underpin their beleaguered global alliance. Renault will transfer most of its stake in its Japanese peer to a trust for eventual sale, where it won’t carry voting rights. The companies will then have 15% effective stakes and 15% voting rights in each other, redressing an imbalance that has upset Nissan for years and held back cooperation since unifying former boss Carlos Ghosn was arrested in 2018.

Moeller-Maersk and Mediterranean Shipping Co. created the so-called 2M alliance in 2015 to help them reduce costs by sharing cargo on major ocean routes. Rivals formed similar partnerships, creating the Ocean Alliance and THE Alliance. Global trade volumes fell 9.5% year over year in November 2022, according to London-based Container Trade Statistics, and global shipping rates have been sliding at a steep pace since early last year. He said the winding down of 2M raised questions over the future of the other two alliances, Ocean Alliance and THE Alliance. So the in-transit issues and all the penalties have pretty much faded away.”Target said in an email that it renegotiates its shipping rates regularly.

☆ JetBlue and American announced 11 all-new routes as the pair beefs up its controversial Northeast Alliance — see the full list
▼ + stars: | 2022-12-09 | by ( Taylor Rains | ) www.businessinsider.com time to read: +6 min

JetBlue Airways and American Airlines announced 11 new routes as part of their Northeast Alliance. Walter Bibikow/Getty ImagesJetBlue will start once-daily flights between New York and Hyannis near Cape Code in the spring of 2023. Just dance/ShutterstockJetBlue will start once-daily flights between New York and Bermuda in the spring of 2023. Aleenah AnsariJetBlue will start once-daily flights between Boston and Vancouver in the spring of 2023. American will start once-daily flights between New York and Knoxville on May 5.

The meeting between the global economic powerhouse and Gulf energy giant comes as Saudi ties with Washington are strained by U.S. criticism of Riyadh's human rights record and Saudi support for oil output curbs before the November midterm elections. China, the world's biggest energy consumer, is a major trade partner of Gulf oil and gas producers. Saudi Arabia is its top oil supplier and state-run Saudi Aramco has annual supply deals with half a dozen Chinese refiners. While economic ties remain anchored by energy interests, bilateral ties have expanded under the Gulf's infrastructure and technology push, part of diversification plans that have gained importance as the world turns away from fossil fuels. Saudi Arabia and its Gulf allies have said they would continue to expand partnerships to serve economic and security interests, despite U.S. reservations about their ties with both Russia and China.

☆ The world needs more economic alliances than security ones, analyst says
▼ + stars: | 2022-11-16 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +3 min

Countries should strike up more economic alliances than security and defense ones, as those could make the world "more dangerous," the president of the Center for China and Globalization said on Tuesday. The U.S. for example, could consider joining — or "re-joining" — the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Henry Wang said at the SALT iConnections conference in Singapore. "The U.S. is the vibe of globalization and [has] always taken the lead on globalization," Wang said. Wang added that there should be more economic alliances and fewer security ones such as the AUKUS, Five Eyes and the Quadrilateral Security Dialogue, an informal strategic alliance. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership is a multilateral trade deal signed in 2018 that was formed after the United States, under the Trump administration, withdrew from the Trans-Pacific Partnership.

☆ One of Twitter's top execs quit the day after tweeting that she had a 'great discussion' with Elon Musk about the company's future
▼ + stars: | 2022-11-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Twitter's CCO said she quit her job just hours after Elon Musk completed his $44 billion takeover. On Thursday, Personette tweeted that she'd had a "great discussion" with Musk. "Remember that we create the organization we want to be a part of," Personette tweeted. Personette tweeted on Thursday, just hours before the deal went through, that she'd had a "great discussion" with Musk the prior evening. Personette resigned the day after posting the tweet.

☆ After Elon Musk’s wild weekend on Twitter, will advertisers stick with it?
▼ + stars: | 2022-11-01 | by ( Clare Duffy | ) edition.cnn.com time to read: +8 min

“I think advertisers are bracing to leave,” said Claire Atkin, co-founder of the adtech watchdog Check My Ads. Most marketers bristle at the thought of having their ads run alongside toxic content such as hate speech, pornography or misinformation. Also on Monday, Angelo Carusone, CEO of media watchdog Media Matters for America, tweeted calling on major Twitter advertisers “to be putting pressure on Twitter right now” to better address the increase in hate and other toxic content. “I think advertisers are going to look at this and say, is the weak Twitter advertising product becoming a better or worse investment? After GM announced its Twitter advertising pause, some users on the platform, including some right-leaning political figures, have called for a boycott of the automaker.

☆ Ford, VW pull plug on robotaxis in blow to self-driving car industry
▼ + stars: | 2022-10-26 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +3 min

Ford said Wednesday that it had concluded that the large-scale profitable commercialization of self-driving cars was further out then expected. Some Argo AI employees will join Ford for that work, Farley said. The company was developing robotaxis, self-driving vehicles that can operate in a ridehail service that does not require human drivers. The team effort allowed Ford and VW to share the hefty costs of developing self-driving cars. Companies have found that developing self-driving cars is incredibly expensive.

☆ India to pitch for global biofuels alliance at G20 - oil minister
▼ + stars: | 2022-10-19 | by ( Mohi Narayan | ) www.reuters.com time to read: +2 min

REUTERS/Gary McWilliamsNEW DELHI, Oct 19 (Reuters) - India plans to pitch for a global alliance on biofuels among members of the group of 20 major economies, oil minister Hardeep Singh Puri said on Wednesday, as the world's third biggest oil consumer bids to boost use of cleaner fuels. India will take over the presidency of the group, also called G20, from Indonesia in December. "We will utilise our G20 presidency to try and set up an international biofuels alliance," Puri said at the International Conference on Biofuels. I think we are on our way to setting up an international alliance," he said. India, also the world's third-biggest oil importer, ships in about 85% of its crude needs, but is gradually building capacity to increase its output of biofuels.

☆ Biden's national security plan identifies Russia as imminent danger, China as long-term threat
▼ + stars: | 2022-10-12 | by ( Christina Wilkie | ) www.cnbc.com time to read: +3 min

WASHINGTON — President Joe Biden released his first national security strategy plan on Wednesday, outlining how the United States would "effectively compete" with China in the coming years, "while constraining a dangerous Russia." "Russia and [China] pose different challenges," wrote Biden. In light of America's urgent and ongoing involvement in Russia's war in Ukraine, Biden's strategy for countering Russia struck a pragmatic note. Damage to the Russian military caused by the protracted conflict "will likely increase Moscow's reliance on nuclear weapons in its military planning," Biden wrote. And while Russia poses a regional threat to Europe and a threat to global markets, wrote Biden, the Kremlin "lacks the across the spectrum capabilities of the PRC."

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