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The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel. U.S. West Texas Intermediate (WTI) crude futures lost 68 cents, or 0.9%, to $74.86. OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday, an OPEC+ source said on Monday. The Middle East crisis had impacted oil prices as investors worried about impacts on supply.

Persons: Angus Mordant, Rebecca Babin, Goldman Sachs, Arathy Somasekhar, Paul Carsten, Florence Tan, Mohi Narayan, Peter Graff, Mark Potter, Tomasz Janowski, Cynthia Osterman, David Gregorio Our Organizations: REUTERS, HOUSTON, Brent, . West Texas, Organization of, Petroleum, Reuters, Saudi, CIBC Private Wealth, ING, OPEC, United, International Energy Agency, Qatar, Hamas, U.S . Commodity Futures Trading Commission, Thomson Locations: Loving County , Texas, U.S, Saudi, Russia, OPEC, Saudi Arabia, United Arab Emirates, Iraq, Turkey, United States, Gaza, Houston, London

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel, while U.S. West Texas Intermediate (WTI) crude futures lost 68 cents, or 0.9%, to $74.86. "We still expect an extension of the unilateral Saudi and Russia cuts through at least the first quarter of 2024," the bank added. Higher crude stockpiles in the United States have also put downward pressure on prices, analysts said. The Middle East crisis had impacted oil prices as investors worried about impacts on supply.

Persons: Angus Mordant, Rebecca Babin, Goldman Sachs, Arathy Somasekhar, Paul Carsten, Florence Tan, Mohi Narayan, Peter Graff, Mark Potter, Tomasz Janowski, Cynthia Osterman Organizations: REUTERS, HOUSTON, Brent, U.S, West Texas, Organization of, Petroleum, Reuters, Saudi, CIBC Private Wealth, ING, OPEC, United, International Energy Agency, Qatar, Hamas, Thomson Locations: Loving County , Texas, U.S, Saudi, Russia, OPEC, Saudi Arabia, United Arab Emirates, Iraq, Turkey, United States, Gaza, Houston, London

☆ Long-term demand for EVs remains intact despite short-term soft spot, says autos analyst
▼ + stars: | 2023-11-21 | 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 EmailLong-term demand for EVs remains intact despite short-term soft spot, says autos analystTom Narayan, lead equity analyst for global autos at RBC Capital Markets, dissects the latest car registration data and weighs in on what he says are misconceptions about electric vehicles in the U.S. and Europe.

Persons: Tom Narayan Organizations: RBC Capital Markets Locations: U.S, Europe

___Their recommendations include securing land rights for women, promoting women's cooperatives and encouraging women to lead on developing climate policy. The link between phenomena like uterine prolapse and climate change is indirect but significant, said Seema Bhaskaran, who tracks gender issues for the nonprofit Transform Rural India Foundation. “It must prioritize awareness programs that emphasize the specific health challenges women face in the wake of climate change as a critical step towards increasing public knowledge. These efforts will also serve as a call to action for governments, institutions, and communities to prioritize women’s health and well-being as a central component of their climate initiatives,” she added. “Definitely there is a very clear recognition that climate has a health impact and health needs to be considered more seriously,” she said.

Persons: Manju Devi, Devi, hadn’t, ___, Seema Bhaskaran, Bhaskaran, Savita Singh, Singh's, Singh, ”, Babita Kumari, Kumari, Poonam, COP28, Anjal Prakash, Shweta Narayan Organizations: DELHI, India Climate Journalism, Associated Press, Stanley Center for Peace, Security, Press Trust of India, India's, Transform Rural, Foundation, Climate Central, Population Foundation of India, Bharat Institute of Public, Indian School of Business, United Nations, Health, AP Locations: Delhi, Dubai, India, New Delhi, Syaraul, Uttar Pradesh, Nanu, U.S

☆ Monthly Meeting Q&A with Jim Cramer on 20 stocks in everything from tech to industrials to drugs
▼ + stars: | 2023-11-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +12 min

(Anthony) Jim Cramer: There were some China statistics that showed that the consumer was doing slightly better. (David) Jim Cramer: The roadblock is that the money is at the state level. (Narayan) Jim Cramer: " Own, don't trade" is about trying to keep us in a stock that otherwise we would trade out of. (Jim) Jim Cramer: First, I think we have to remember Ford actually has a lot of money on its balance sheet — a lot of cash. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jeff Marks, Estee Lauder, Anthony, Jim Cramer, Wynn, It's, David, I'm, Narayan, it's, Steve Jobs, John, Tom Jorden, That's, Capex, Paul, Procter, Jim Farley, Jim, Ford, Shawn Fain, Farley, Donald, Larry Culp, He's, GEHC, Eli Lily, Louis, Lilly, Zepbound, We've, Alzheimer's, tirzepatide, hasn't, Edmundo, we've, haven't, Linde, Theresa, Jim Cramer Rob Kim Organizations: Investing Club, Club, Caterpillar, Amazon, Nvidia, Apple, Web Services, Natural Resources, Exxon, Procter, Gamble, United Auto Workers, GE Healthcare, Electric, GE, General, Merck, Drug Administration, Novo Nordisk, Linde, LIN, Trust, Barrick, CNBC Locations: China, reaccelerate, GEHC

☆ India’s gamified equities are a wake-up call
▼ + stars: | 2023-11-08 | by ( Pranav Kiran | ) www.reuters.com time to read: +4 min

The result is an acceleration of Indian savings away from gold and real estate into financial products. However, it is also leading to what Ashish Gupta, chief investment officer at Axis Bank’s mutual fund, dubs “the gamification of Indian equities”. A frenzy for index options has driven up volume in the derivatives market to the tune of $4.3 trillion a day. Retail traders made up a higher share of equity derivatives turnover than their institutional counterparts on the National Stock Exchange between 2017 and 2021. Whatever the fix, it’s a reminder that India’s digital leapfrog which other developing countries are urgently trying to replicate has a dark side too.

Persons: Francis Mascarenhas, Ashish Gupta, Gupta, weren’t, Ananth Narayan, SEBI, Nithin Kamath, Zerodha, Lalit Keshre, Una Galani, Thomas Shum Organizations: Bombay Stock Exchange, REUTERS, Rights, Reuters, National Stock Exchange, Tiger, Securities, Exchange Board of India, Thomson Locations: Mumbai, India, U.S

☆ Coal free by 2070? India’s push toward renewables won't stop coal reliance for the next two decades
▼ + stars: | 2023-11-03 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +6 min

The country's leaders have been optimistic about its path to net zero, making bold claims that 50% of its power generation will come from renewables by 2030, and 100% by 2070. "This heightened power demand necessitates a reliable, cost-effective, and consistent power generation source, which coal currently fulfills," he highlighted. Nearly 10% of the country's electricity demand comes from space cooling and this will increase ninefold by 2050, the IEA said. Unreliable renewablesDespite being able to produce cheap wind and solar energy, only 22% of India's power generation is met by renewables. These complexities render it challenging to rely solely on renewables for consistent and dependable power generation," Narayan said.

Persons: Money Sharma, Anil Kumar Jha, Jha, Neshwin Rodrigues, Prakash Singh, Sooraj Narayan, Wood, Sooraj Narayan Wood Mackenzie, Narayan, Sumant Sinha, Sinha, CNBC's, Wood Mackenzie's Narayan Organizations: Afp, Getty, Coal, CNBC, National Thermal Power Corporation, International Energy Agency, Ministry of Coal, Jha, Bloomberg, Investment, Invest India, Nurphoto Locations: Uttar Pradesh, India, Coal India, Dadri, Asia, Uttarakhand, Kerala

An aerial view shows an oil factory of Idemitsu Kosan Co. in Ichihara, east of Tokyo, Japan November 12, 2021, in this photo taken by Kyodo. Brent January crude futures rose 0.3%, or 28 cents, to $85.30 a barrel by 0330 GMT, after falling more than 1% on Tuesday. Brent December futures settled 4 cents lower at $87.41 a barrel at the contract's expiry on Tuesday. Interest rate hikes aimed at taming inflation can slow economic growth and reduce oil demand, while rate cuts to spur spending could increase oil consumption. The Fed, which will end its meeting on Wednesday, is expected to hold rates steady, according to a poll by CME's Fedwatch tool.

Persons: Brent, Edward Moya, CME's, Goldman Sachs, Antony Blinken, Mohi Narayan, Emily Chow, Jamie Freed Organizations: Kyodo, U.S . Federal Reserve, . West Texas, Treasury, Federal, Market, American Petroleum Institute, Central Bank, Bank of England, Israel, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, DELHI, Israel, ., U.S, Europe, China, East, Gaza, New Delhi, Singapore

☆ EV sales for automakers will be sluggish in the near term, says RBC Capital's Tom Narayan
▼ + stars: | 2023-10-30 | 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 EmailEV sales for automakers will be sluggish in the near term, says RBC Capital's Tom NarayanTom Narayan, RBC Capital global auto analyst, joins 'Power Lunch' to discuss the impact of the UAW's tentative deal on automakers.

Persons: Tom Narayan Tom Narayan Organizations: RBC, RBC Capital

☆ General Motors' stock has been punished 'somewhat unfairly' by the UAW strike, says analyst
▼ + stars: | 2023-10-25 | 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 EmailGeneral Motors' stock has been punished 'somewhat unfairly' by the UAW strike, says analystTom Narayan of RBC Capital Markets says the issue of the UAW strike is "overblown" and shares why he is optimistic on the prospects for the stock.

Persons: Tom Narayan Organizations: General Motors, UAW, RBC Capital Markets

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford//File Photo Acquire Licensing RightsNEW DELHI, Oct 24 (Reuters) - Oil prices rose on Tuesday, recovering some of the previous day's losses, as investors remained nervous that the Israel-Hamas war could escalate into a wider conflict in the oil-exporting region, causing potential supply disruptions. But Israel continued its bombardment of Gaza on Monday after launching air strikes over southern Lebanon overnight. U.S. crude stockpiles were expected to have risen last week, while distillate and gasoline inventories fell, a preliminary Reuters poll showed on Monday. Reporting by Mohi Narayan in New Delhi and Yuka Obayashi in Tokyo; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Nick Oxford, Yuki Takashima, Israel, Vandana Hari, Takashima, Mohi Narayan, Yuka Obayashi, Sonali Paul Organizations: REUTERS, Brent, U.S, West Texas, Nomura Securities, Vanda Insights, American Petroleum Institute, Energy Information Administration, U.S . Department of Energy, Thomson Locations: Cushing , Oklahoma, DELHI, Israel, U.S, Gaza, Lebanon, Palestinian, OPEC, China, New Delhi, Tokyo

[1/4] Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. To prevent demand from waning, market leader Tesla, with industry-leading profit margins, has been the first and most aggressive in slashing prices, forcing others to follow suit and squeezing margins. "If interest rates remain high ... it's that much harder for people to buy the car. They simply can't afford it," Musk said, adding he would "accelerate" expansion of the Mexico factory if interest rates come down. That is not expected in the United States until June 2024, based on current market estimates , with recent robust economic data suggesting the central bank might leave interest rates higher for longer.

Persons: Aly, Elon Musk, Musk, Tesla, Ford, Tom Narayan, Narayan, Abhirup Roy, Ben Klayman, Jamie Freed Organizations: REUTERS, FRANCISCO, Wednesday, General Motors, Ford, EV, GM, Chevrolet Silverado, GMC, Air, RBC Capital Markets, Reuters, Thomson Locations: China, Shanghai, Mexico, Michigan, Detroit, U.S, United States, San Francisco

☆ Amazon to launch drone deliveries in Italy and UK in late 2024
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

The logo of Amazon is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. The customers in these locations will have the option to have their packages delivered by a drone starting late 2024, Amazon said in a statement. Drone deliveries would be integrated into Amazon's existing fulfillment network and will be deployed from same-day delivery sites, the company added. Amazon's drone based service, called Prime Air, is currently available in two cites in California and Texas, where it launched last year. Reporting by Jyoti Narayan in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Amazon, Jyoti Narayan, Shailesh Organizations: Viva Technology, Porte de, REUTERS, Thomson Locations: Porte, Paris, France, Britain, Italy, United States, California, Texas, Bengaluru

☆ Tesla Q3 earnings: Here's what to expect
▼ + stars: | 2023-10-18 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla Q3 earnings: Here's what to expectTom Narayan, RBC Capital Markets global auto analyst, joins 'Power Lunch' to discuss Tesla ahead of its earnings.

Persons: Tom Narayan Organizations: RBC Capital

☆ India's top regulators investigating some alternate investment funds -sources
▼ + stars: | 2023-10-17 | by ( Jayshree P Upadhyay | ) www.reuters.com time to read: +3 min

A bird flies past the new logo of the Securities and Exchange Board of India (SEBI) at its headquarters in Mumbai, India, April 19, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsOct 17 (Reuters) - India's markets regulator and its central bank are investigating about a dozen cases of alternate investment funds (AIFs) allegedly being used to circumvent regulations, including "evergreening" of stressed loans, according to three sources with direct knowledge of the matter. The central bank has initiated enquiries into these cases, according to the first and third sources. In other cases under investigation, AIFs have been used to evade caps on foreign investment in certain sectors, the first and third sources said. Priority payouts are when an investment is split into senior and junior tranches based on the risk and priority of payout.

Persons: Francis Mascarenhas, Ananth Narayan, AIFs, Jayshree, Jamie Freed Organizations: Securities and Exchange Board of India, REUTERS, Securities, Exchange Board of India, Reserve Bank of India, AIFs, Thomson Locations: Mumbai, India

☆ Rolls-Royce to cut 2,500 jobs in cost cutting drive -Sky News
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Rolls-Royce is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in Villepinte near Paris, France, June 27, 2018. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 16 (Reuters) - Rolls-Royce Holdings (RR.L) is set to axe about 2,500 staff as soon as Tuesday as part of a cost-cutting drive by its new chief executive, Sky News reported on Monday. Rolls-Royce did not immediately respond to a request for comment. In May, Rolls-Royce said it had made no decisions regarding changes to its workforce, in response to a Sunday Times report that it was expected to cut about 3,000 non-manufacturing staff. Reporting by Jyoti Narayan in Bengaluru; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Royce, Benoit Tessier, Tufan Erginbilgic, Jyoti Narayan, Jonathan Oatis Organizations: Nuclear, REUTERS, Royce Holdings, Sky News, Sunday Times, Thomson Locations: Villepinte, Paris, France, Bengaluru

☆ China considers new stabilization fund to prop up stock market, Bloomberg reports
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

People stand at a shopping mall near the CCTV headquarters and China Zun skyscraper, in Beijing's central business district (CBD), China September 7, 2023. REUTERS/Tingshu Wang//File Photo Acquire Licensing RightsOct 12 (Reuters) - China is considering creating a state-backed stabilization fund to shore up confidence in its equity markets, Bloomberg News reported on Thursday. The plan calls for the fund to have access to total capital of up to hundreds of billions of yuan, the report said, adding that implementation details have not been finalized and there could be a chance the proposal will be scrapped. This move comes as China's "Big Four" state banks said late on Wednesday that their controlling state parent shareholder Central Huijin Investment bought their Shanghai-traded shares, and plans to further increase its holdings in the next six months. Reporting by Jyoti Narayan in Bengaluru; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Jyoti Narayan, Sonali Paul Organizations: REUTERS, Bloomberg, Financial, China Securities Regulatory Commission, Central Huijin Investment, Thomson Locations: China, Beijing's, Shanghai, Bengaluru

[1/4] Cars pass under an overpass at the General Motors Car assembly plant in Oshawa, June 1, 2012. REUTERS/Mark Blinch/File Photo Acquire Licensing RightsOSHAWA, Ontario, Oct 10 (Reuters) - General Motors (GM.N) and Canadian union Unifor reached a tentative agreement on Tuesday just hours after 4,300 workers went on strike at three GM facilities. The union said the tentative agreement follows the pattern agreement Unifor reached with Ford Motor (F.N) last month and includes wage hikes of up to 25%. GM has lost 34,176 vehicles of production since the start of the UAW strike, according to an estimate by Deutsche Bank. GM has laid off 2,300 U.S. workers due to the impacts of the UAW strike.

Persons: Mark Blinch, Unifor, Lana Payne, Payne, we’re, Darrell Colley, Stellantis, Arlyn McAdorey, Shivansh Tiwary, Jyoti Narayan, David Shepardson, Mark Potter, Matthew Lewis, David Gregorio Our Organizations: General Motors, REUTERS, Rights, Ford Motor, Workers, GM, Ford, United Auto Workers, UAW, Deutsche Bank, Chrysler, Unions, Thomson Locations: Oshawa, Rights OSHAWA, Ontario, U.S, United States, Oshawa , Ontario, Bengaluru, Washington

Cars pass under an overpass at the General Motors Car assembly plant in Oshawa, June 1, 2012. Unifor said it would go on strike at GM's Oshawa assembly complex, St. Catharines powertrain plant and the Woodstock parts distribution center, all in Ontario. Members at the CAMI Assembly Plant in Ingersoll, Ontario, are not on strike because they are covered by a separate agreement. GM has lost 34,176 vehicles of production since the start of the UAW strike, according to an estimate by Deutsche Bank. The UAW has struck two GM assembly plants in the United States and 18 parts distribution centers.

Persons: Mark Blinch, Unifor, Wells Fargo, Wells, Lana Payne, Shivansh Tiwary, Jyoti Narayan, David Shepardson, Mark Potter, Matthew Lewis Organizations: General Motors, REUTERS, General, GM, St, Chevrolet, Chevrolet Silverado, GM North America, Ford Motor, Unifor, United Auto Workers, UAW, Deutsche Bank, Ford, Chrysler, Unions, Thomson Locations: Oshawa, Canada, U.S, St, Catharines, Woodstock, Ontario, St . Catharines, CAMI, Ingersoll , Ontario, United States, Bengaluru, Washington

The walkout by workers came after Canadian union Unifor said GM was "stubbornly refusing" to match the contract the labor union reached with Ford Motor (F.N), which offered wage increases of up to 25% in Canada. The walkout adds to the headache faced by the automaker in the U.S. where it is racking up millions of dollars in losses per week due to the United Auto Workers (UAW) strike that started Sept. 15. GM has lost 34,176 vehicles of production since the start of the UAW strike, according to an estimate by Deutsche Bank. GM has laid off 2,300 U.S. workers due to the impacts of the UAW strike. At the Oshawa plant, workers build Chevrolet Silverado trucks, one of GM's most profitable models, while the plant's stamping operations supply various parts for GM North America.

Persons: Mark Blinch, Unifor, Lana Payne, Wells Fargo, Shivansh Tiwary, Jyoti Narayan, David Shepardson, Jamie Freed, Arun Koyyur, Mark Potter Organizations: General Motors, REUTERS, General, Ford Motor, GM, Detroit Three, Unifor, United Auto Workers, UAW, Deutsche Bank, St, Chevrolet, Chevrolet Silverado, GM North America, Oshawa, Catharines, Ford, Chrysler, Thomson Locations: Oshawa, Canada, U.S, United States, St, Catharines, Woodstock, CAMI, Ingersoll , Ontario, St . Catharines, Bengaluru, Washington

Cars pass under an overpass at the General Motors Car assembly plant in Oshawa, June 1, 2012. GM has lost 34,176 vehicles of production since the start of the UAW strike in September, according to an estimate by Deutsche Bank. At the Oshawa plant, workers build light- and heavy-duty Chevrolet Silverado trucks, one of GM's most profitable models, while the plant's stamping operations supply various parts for GM North America. Unifor has used the "pattern bargaining" approach in its talks, reaching a deal first with Ford and then expecting GM and Stellantis to match. Unifor represents about 18,000 workers at the Canadian facilities of Ford, GM and Chrysler parent Stellantis (STLAM.MI).

Persons: Mark Blinch, GM, Lana Payne, Unifor, Shivansh Tiwary, Jyoti Narayan, Christian Schmollinger, Jamie Freed, Arun Koyyur Organizations: General Motors, REUTERS, General, U.S, Ford Motor, GM, Detroit Three, Unifor, United Auto Workers, UAW, Deutsche Bank, St, Chevrolet, Chevrolet Silverado, GM North America, Ford, Chrysler, Unions, Thomson Locations: Oshawa, Canada, U.S, St, Catharines, Woodstock, CAMI, Ingersoll , Ontario, St . Catharines, Bengaluru

☆ Canadian union Unifor strikes at GM after contract talks fail
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +3 min

GM was disappointed about being unable to reach a deal at this time but will continue to negotiate with Unifor, the automaker said in a statement. Unifor represents about 18,000 workers at the Canadian facilities of the Detroit Three automakers, which also include Ford (F.N) and Chrysler parent Stellantis (STLAM.MI). Unifor last month ratified a new three-year contract with Ford that offered wage increases of up to 25% to more than 5,600 workers at its Canadian facilities. Unifor said last week that GM was "resisting" a number of important elements of its agreement with Ford. The union had chosen the company as its second bargaining target of the Detroit Three automakers after Ford.

Persons: Mark Blinch, Unifor, Lana Payne, Mack Trucks, Jason Gale, ” Unifor, Shivansh Tiwary, Jyoti Narayan, Christian Schmollinger, Jamie Freed Organizations: General Motors, REUTERS, General, North, Unifor, Detroit Three, Ford, Chrysler, United Auto Workers, UAW, Volvo Group, Detroit, Thomson Locations: Oshawa, St, Catharines, Woodstock, United States, Canada, Ontario, Bengaluru

☆ Tesla cuts US prices of Model 3, Y in push to meet delivery goal
▼ + stars: | 2023-10-06 | by ( Urvi Manoj Dugar | ) www.reuters.com time to read: +2 min

Tesla Model 3 vehicles are shown for sale at a Tesla facility in Long Beach, California, U.S., May 22, 2023. The price cuts by Tesla - now by about 2.7% to 4.2% - started in January to support sales in an uncertain economy and fend off competition from U.S. automakers such as Ford and China's BYD. The standard Model 3 sedan is now $1,250 cheaper at $38,990, while the Model Y long-range variant costs $2,000 less at $48,490, the automaker's website showed. Overall, the standard Model 3's prices have come down by about 17% since the start of the year, while the Model Y long-range variant has seen a drop of over 26%. The price cuts will also add pressure on the "Detroit Three" as they deal with an unprecedented strike by autoworkers' union.

Persons: Mike Blake, Tesla, autoworkers, Urvi Dugar, Jyoti Narayan, Nilutpal, Shubham Kalia, Akash Sriram, Nivedita Bhattacharjee, Arun Koyyur Organizations: Tesla, REUTERS, U.S, Ford, Toyota, Alpha, Reuters, Thomson Locations: Long Beach , California, U.S, Bengaluru

☆ EU, US seek interim steel deal to avoid return of Trump tariffs - Bloomberg News
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

A steel coil is unrolled on the line at the Novolipetsk Steel PAO steel mill in Farrell, Pennsylvania, U.S., March 9, 2018. REUTERS/Aaron Josefczyk/File Photo Acquire Licensing RightsOct 6 (Reuters) - Leaders of the European Union and the U.S. are seeking to announce an interim agreement at an Oct. 20 summit on steel and aluminium trade that would avert the re-imposition of Trump-era tariffs on transatlantic commerce, Bloomberg News reported on Friday. White House and European Commission officials are negotiating a provisional political agreement that would cover the two main planks of the Global Arrangement for Sustainable Steel and Aluminum that the EU and U.S. have been negotiating since 2021, which include tackling non-market excess capacity and carbon emissions, the report said citing people familiar with the talks. Reporting by Jyoti Narayan in Bengaluru; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Aaron Josefczyk, Jyoti Narayan, Jacqueline Wong Organizations: Novolipetsk, REUTERS, European Union, Trump, Bloomberg, White, European Commission, Sustainable Steel, EU, U.S, Thomson Locations: Farrell , Pennsylvania, U.S, Bengaluru

☆ UAW strike enters fourth week: Where things stand
▼ + stars: | 2023-10-06 | 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 EmailUAW strike enters fourth week: Where things standTom Narayan, European autos and commercial truck analyst at RBC Capital Markets, and Ann Marie Uetz, partner and trial attorney with Foley, join 'Power Lunch' to discuss the latest with the UAW strike and where it's headed.

Persons: Tom Narayan, Ann Marie Uetz, Foley Organizations: UAW, RBC Capital Markets

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