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The maker of Tre model electric trucks has decided to make battery electric trucks only to order and focus on hydrogen fuel cell trucks. The company laid off 270 employees in June and liquidated assets of a recently acquired battery maker last month. Nikola forecast third-quarter revenue of $18 million to $28 million, compared with estimates of $34.5 million, according to Visible Alpha. Other electric vehicle (EV) startups also have toiled to ramp up production, meet delivery targets and raise funds as cash reserves dwindled. Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check.

Persons: Stephen Girsky, Brendan McDermid, Nikola, NKLA.O, Michael Lohscheller, Girsky, Tre, Trevor Milton, Akash Sriram, Abhirup Roy, Will Dunham, Anil D'Silva, Sriraj Kalluvila, David Gregorio Our Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, U.S, General Motors, Friday's, Nikola, Fisker, Thomson Locations: New York City, U.S, Phoenix, Bengaluru, San Francisco

Nikola's investors on Thursday approved a proposal that will allow the company to issue more shares. The maker of Tre model electric trucks has been trying to pivot to hydrogen fuel cell technology. Nikola forecast third-quarter revenue of $18 million to $28 million, compared with estimates of $34.5 million, according to Visible Alpha. It had cash and cash equivalents of $226.7 million at the end of the second quarter, compared with $441.8 million, a year earlier. The company laid off 270 employees in June and liquidated assets of a recently acquired battery maker last month.

Persons: Stephen Girsky, Brendan McDermid, Nikola, okayed, Michael Lohscheller, Girsky, Tre, Trevor Milton, Akash Sriram, Abhirup Roy, Anil D'Silva, Sriraj Kalluvila, David Gregorio Our Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, General Motors, Thomson Locations: New York City, U.S, Bengaluru, San Francisco

REUTERS/Brendan McDermid/File photoAug 4 (Reuters) - Nikola (NKLA.O) on Friday named its fourth CEO in as many years as the electric truck maker navigates a host of challenges including dwindling cash reserves, lingering supply chain snags and a pivot to hydrogen fuel cell technology. The Tre battery-electric trucks maker forecast third-quarter revenue of $18 million to $28 million, compared with estimates of $34.5 million, according to Visible Alpha. Nikola's investors approved a proposal that will allow the truck maker to issue more shares to raise funds. Milton stepped down as CEO in 2020 after short-seller Hindenburg issued a scathing report that labeled Nikola a "fraud." Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check.

Persons: Stephen Girsky, Brendan McDermid, Nikola, Michael Lohscheller, Trevor Milton, Milton, Hindenburg, Romeo Power, Akash Sriram, Anil D'Silva Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, General Motors, EV, Lordstown Motors, Thomson Locations: New York City, U.S, Phoenix , Arizona, Bengaluru

☆ EV maker Nikola names fourth CEO in as many years
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] Stephen Girsky, Managing Partner for VectolQ, speaks during a Reuters Newsmaker event on the Future of Autonomous Vehicles in New York City, U.S. June 20, 2017. REUTERS/Brendan McDermid/File photoCompanies Nikola Corp FollowAug 4 (Reuters) - Electric truck maker Nikola said on Friday that Michael Lohscheller will step down as chief executive officer less than a year after taking over the job and would be replaced by Stephen Girsky at the end of the month. Girsky, who is currently the company's chairman, will be Nikola's fourth CEO in as many years. Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check. Reporting by Akash Sriram in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephen Girsky, Brendan McDermid, Nikola, Michael Lohscheller, Lohscheller, Akash Sriram, Anil D'Silva Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, Nikola, Thomson Locations: New York City, U.S, Phoenix , Arizona, Europe, Bengaluru

☆ LSEG’s dealmaking payoff arrives in installments
▼ + stars: | 2023-08-03 | by ( Neil Unmack | ) www.reuters.com time to read: +4 min

LSEG (London Stock Exchange Group) CEO David Schwimmer speaks during the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. Yet two and a half years after CEO David Schwimmer got the keys, the London Stock Exchange operator is growing revenue and mostly beating its targets. The deal increased LSEG’s exposure to selling data, typically a more predictable source of revenue. Annual subscriber value, a closely watched metric which measures the recurring revenue in LSEG’s data division, rose nearly 7% in the first six months of the year. Schwimmer’s dealmaking is paying off, but the former Goldman Sachs (GS.N) banker has a few more installments to collect.

Persons: David Schwimmer, Brendan McDermid, Blackstone, Schwimmer, dealmaking, Goldman Sachs, LSEG, Thomson, Peter Thal Larsen, Streisand Neto Organizations: London Stock Exchange Group, Reuters, REUTERS, Brendan McDermid LONDON, London Stock Exchange, London Stock, Thomson Reuters, Microsoft, Deutsche, Jefferies, P, Revenue, Blackstone, Thomson Locations: New York City , New York, U.S, Refinitiv, Breakingviews

☆ Gunman kills two at Moldova's main airport before being arrested - police
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

CHISINAU, June 30 (Reuters) - A foreign national shot dead two people at Moldova's main international airport on Friday after being denied entry into the country, police and the interior ministry said. Police detained the man after the incident at Chisinau International Airport, the east European country's largest airport. Moldova's Newsmaker website cited unnamed officials saying the man had seized a gun from a border police officer after being taken to an area to be barred entry. Moldova, which gained independence from the Soviet Union in 1991, has a population of 2.6 million and is pushing to join the European Union. Reporting by Alexander Tanas, Writing by Olena Harmash and Tom Balmforth; Editing by Timothy HeritageOur Standards: The Thomson Reuters Trust Principles.

Persons: Moldova's, Alexander Tanas, Olena Harmash, Tom Balmforth, Timothy Organizations: Police, Chisinau International Airport, Facebook, European Union, Timothy Heritage, Thomson Locations: CHISINAU, Chisinau, Turkey, Moldova, Soviet Union, Romania, Ukraine

[1/4] Holly O’Neill, President of Retail Banking at Bank of America speaks during a Newsmaker interview with Reuters in New York City, New York, U.S., May 31, 2023. "The consumer is still very healthy," Holly O'Neill, Bank of America's president of retail banking, said at a Reuters Newsmaker event. U.S. consumer spending increased more than expected in April, boosting the economy's growth prospects for the second quarter. Consumer spending on Bank of America cards fell 1.2 percent in April compared with a year earlier, the first year-on-year decline since February 2021, its data showed. The biggest shot O'Neill took in her career was moving to the consumer bank after serving as chief operating officer of the private-banking division.

Persons: Holly O’Neill, Mike Segar, Holly O'Neill, O'Neill, Erica, Lananh Nguyen, Saeed Azhar, Nupur Anand, Nick Zieminski Organizations: Retail Banking, Bank of America, Reuters, REUTERS, Bank of America Corp, Bank of, JPMorgan Chase &, First, Bank, Thomson Locations: New York City , New York, U.S

Under his leadership, Morgan Stanley became a wealth management powerhouse that aims to manage $10 trillion in assets. Morgan Stanley bought money manager Eaton Vance, online broker E*Trade, and stock-plan manager Solium Capital under Gorman's leadership. He was also the key architect behind Morgan Stanley's purchase of Smith Barney, a brokerage and investment adviser, in 2009. The acquisitions have made Morgan Stanley's U.S. wealth business an "asset gathering monster," and a "killer machine," he said on an earnings conference call last month. "This structure will ensure the continued stability of Morgan Stanley, while at the same time positioning it for a decade of exciting growth under new leadership."

☆ Europe throws ignition cars a thin lifeline
▼ + stars: | 2023-03-28 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

Bowing to pressure from automaking Germany, the European Union has agreed to exempt cars that run on carbon-neutral synthetic fuel from a ban on new combustion engine vehicles in 2035. loadingFor mass-market brands, electric cars will likely remain the cheapest option. RBC industry analysts expect electric and plug-in hybrid vehicles to make up 90% of Western European passenger vehicle sales by 2035. Yet, it will do little to stop the hollowing out of Europe’s combustion engine supply chain. The deal paves the way for EU ministers to approve the 2035 phaseout law for CO2-emitting cars on March 28.

☆ Ferrari CEO welcomes EU decision on e-fuels
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: 1 min

Companies Ferrari NV FollowMILAN, March 27 (Reuters) - The chief executive of Ferrari (RACE.MI) on Monday welcomed plans to exempt cars that run on e-fuels from the European Union's planned 2035 phaseout of new combustion engine vehicles. The decision would give the luxury Italian carmaker "greater freedom on the propulsion scheme," CEO Benedetto Vigna told a Reuters newsmaker event. Ferrari, which is renowned for its roaring petrol engines, is already producing plug-in hybrid cars and has promised its first full-electric vehicle for 2025. Reporting by Lisa Jucca and Giulio Piovaccari; writing by Keith Weir; editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

Known for its Birds Eye, Chef Boyardee and Slim Jim brands, Conagra is increasing some of its prices in its current fiscal 2023 third quarter. "We don't currently have any plans to take additional pricing beyond that," Connolly said, noting the plans could change if inflation persists. The price of groceries eaten at home rose an estimated 11%-12% in 2022, versus a 7%-8% increase in restaurant menu prices, according to estimates from the U.S. Department of Agriculture. "If you're going to spend your day at home instead of in the office, odds are the breakfast and the lunch that you're going to have is going to be a product like a Healthy Choice Power Bowl," Connolly said. "We've now moved it to just about everything we sell in our frozen meals business," he said.

NEW YORK, Jan 10 (Reuters) - Conagra Brands Inc (CAG.N) Chief Executive Officer Sean Connolly said in a Reuters Newsmaker interview on Tuesday that he sees double-digit inflation in fiscal 2023, although protein costs are moderating. The company, known for its brands Birds Eye and Chef Boyardee, raised its full-year forecasts last week, after beating quarterly results, helped mainly by higher prices for its snacks and ready-to-eat meals. Its share price rose 12% in 2022 and shot up further after the improved forecasts. Packaged food makers have undergone several rounds of price increases in the past year to shield their profit margins from higher costs, which people have accepted as they find eating out far more expensive than cooking at home. Reporting by Jessica DiNapoli and Hilary Russ in New York Editing by Lisa Shumaker and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Nasdaq CEO to take on additional role as board chair
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: 1 min

[1/2] file photo: President and CEO of Nasdaq Adena Friedman attends the Reuters NEXT Newsmaker event in New York City, U.S., November 30, 2022. REUTERS/Brendan McDermidDec 19 (Reuters) - Exchange operator Nasdaq Inc (NDAQ.O) said on Monday Chief Executive Officer Adena Friedman would take on the additional role of board chair. Friedman replaces Michael Splinter, who will take on the role of lead independent director for the exchange operator. Friedman has been Nasdaq's CEO for over five years. Reporting by Niket Nishant and Anirban Chakroborti in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. tells Turkey no need for additional checks on oil tankers
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: 1 min

[1/2] U.S. Treasury Department Deputy Secretary Wally Adeyemo attends the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. REUTERS/Brendan McDermidWASHINGTON, Dec 7 (Reuters) - U.S. Deputy Treasury Secretary Wally Adeyemo told Turkish Deputy Foreign Minister Sedat Onal in a call on Wednesday that the price cap on Russian oil does not necessitate additional checks on ships passing through Turkish territorial waters, the U.S. Treasury Department said. A Turkish measure in force since the start of the month has caused a logjam by requiring vessels to provide proof they have insurance covering the duration of their transit through the Bosphorus strait or when calling at Turkish ports. Reporting by Eric BeechOur Standards: The Thomson Reuters Trust Principles.

☆ Energy crisis highlights need to broaden renewables' supply chain
▼ + stars: | 2022-12-01 | by ( Laila Kearney | ) www.reuters.com time to read: +4 min

[1/2] Enel CEO Francesco Starace speaks during the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. REUTERS/Brendan McDermidNEW YORK, Dec 1 (Reuters) - The global energy crisis sparked by war in Ukraine has underscored how parts of the renewables supply chain might face similar struggles if not quickly diversified, energy executives told the Reuters NEXT conference this week. "Out of this crisis, you learn that there are many other things that might follow this same pattern," said Francesco Starace, CEO of Italy's Enel (ENEI.MI), speaking at the conference on Thursday in New York. Starace noted how solar panels are produced overwhelmingly in China, saying that, and the manufacture of other energy components critical to transitioning from fossil fuels, are potential problem areas. South Africa, the most industrialized country in Africa, will need to add more than 50,000 megawatts (MW) of new power generation capacity to help meet demand and stabilize its grid, Brian Dames, chief executive officer of African Rainbow Energy & Power, said at a Reuters NEXT panel on Wednesday.

☆ Treasury's Adeyemo says underlying health of U.S. economy 'quite strong'
▼ + stars: | 2022-12-01 | by ( Dan Burns | ) www.reuters.com time to read: +2 min

NEW YORK, Dec 1 (Reuters) - The underlying health of the U.S. economy is quite strong and massive investments being made in manufacturing and infrastructure will help bring inflation down over the longer term, Deputy Treasury Secretary Wally Adeyemo said on Thursday. Legislation like the bipartisan infrastructure law, the Inflation Control Act and a law to promote domestic semiconductor production would make long-needed investments in the economy that would help bring inflation under control, he said. U.S. Treasury Department Deputy Secretary Wally Adeyemo attends the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. Adeyemo said the U.S. economy was better-placed than any other economy to do well despite the rising cost of capital, and labor force participation was starting to increase, albeit not at the desired rate. Reporting by Daniel Burns; Writing by Andrea Shalal; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ Meta executive says holiday sales were earlier and bigger this year
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

Nov 30 (Reuters) - The head of Meta Platforms' (META.O) business group said on Wednesday that the holiday shopping season started earlier than usual this year and produced a Black Friday sales weekend that appeared to be the biggest on record. Consumers anxious about supply shortages were stocking up early on desired gifts, while businesses with excess inventory sought to clear it out with heavy discounts, said Meta Vice President of Global Business Nicola Mendelsohn, speaking in an interview at the Reuters NEXT conference. The holiday ad sales could be a welcome respite for Meta, which has been struggling this year as advertisers and consumers pulled the plug on spending amid soaring costs and rapidly rising interest rates. [1/3] Vice President for the Global Business group at Meta Nicola Mendelsohn speaks during a Reuters NEXT Newsmaker event in New York City, U.S., November 30, 2022. To view the Reuters NEXT conference live on Nov. 30 and Dec. 1, please click hereReporting by Katie Paul and Aditya Soni; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Canada says war, climate concerns show need for supply chain shift
▼ + stars: | 2022-11-30 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

Canada also launched an Indo-Pacific strategy on Sunday meant to counter Chinese power in the region. Canadian Prime Minister Justin Trudeau is interviewed by Reuters Editor-in-Chief Alessandra Galloni via video link during a Reuters NEXT Newsmaker event in New York City, U.S., November 30, 2022. REUTERS/Brendan McDermidChina now dominates the critical-mineral portion of the electric vehicle supply chain. In recent months, Canada has also been reminding its top trading partner, the United States, of its value as a neighbor. "We of course stand with those protesters," Trudeau said.

☆ Moderna exec says COVID trials improved diversity recruiting
▼ + stars: | 2022-11-30 | by ( Caroline Humer | ) www.reuters.com time to read: +1 min

[1/4] Chief Medical Officer of Moderna Paul Burton attends the Reuters NEXT Newsmaker event in New York City, U.S., November 30, 2022. REUTERS/Brendan McDermidNEW YORK, Nov 30 (Reuters) - Moderna Inc's top scientist said on Tuesday that the vaccine maker has learned how to better recruit from diverse populations for its clinical trials from running its COVID-19 vaccine studies. Moderna has worked to match that diverse enrollment in its other ongoing trials, Burton said. He said enrollment of people of color in its Respiratory Syncytial Virus (RSV) and Cytomegalovirus (CMV) vaccine trials was probably over 35%. To view the Reuters NEXT conference live on Nov. 30 and Dec. 1, please click here.

☆ Oreo maker Mondelez pulls ads off Twitter, citing hate speech -CEO
▼ + stars: | 2022-11-08 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +1 min

"What we’ve seen recently since the change on Twitter has been announced, is the amount of hate speech increase significantly," Van de Put said. Twitter last week laid off half its workforce as advertisers pulled spending amid concerns about content moderation. Twitter, which has lost many members of its communications team, did not immediately respond to a request for comment. Van de Put added that Mondelez, which makes Cadbury and Milka chocolates, is expecting a strong holiday season. Reporting by Jessica DiNapoli in New York Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Reeling from floods, Pakistan seeks climate compensation, debt relief
▼ + stars: | 2022-11-07 | by ( Valerie Volcovici | ) www.reuters.com time to read: +2 min

SHARM EL-SHEIKH, Egypt, Nov 7 (Reuters) - Pakistan's prime minister said his country would need debt relief and would seek compensation for climate damage as it recovers from catastrophic floods that cost the country some $30 billion. Speaking on Monday at the COP27 climate conference alongside U.N. Secretary-General Antonio Guterres, Prime Minister Shehbaz Sharif said that Pakistan's escalating public debt was hampering its recovery. "Millions of people are going into winter without shelter or livelihood," Sharif said. "Women and children are still looking to us to protect their basics needs." "There should be a way to have a (debt) swap exchanging the payments of the debt to investments in the rehabilitation and recovery and reconstruction from natural disasters," the secretary general said.

Meanwhile, Merck's investment strategy in China has not changed but the healthcare and chip materials maker is "mindful of the potential risks", Garijo noted in the Reuters Newsmaker interview. China is a key region for the semiconductor industry and drug companies, but geopolitical challenges are growing. While Taiwan has lived under the Chinese threat for decades, war games in early August have rattled nerves in the semiconductor industry. There is a need for "constructive dialogue" with markets like China that are important to German industry, and Merck, said Garijo. "We are mindful of the potential risks ... but our investment policy has not changed," she said.

FILE PHOTO - Maersk CEO Soren Skou answers questions from the press after publishing the company's quarterly accounts, in Copenhagen, Denmark, November 2, 2021. Moller-Maersk's (MAERSKb.CO) chief executive said on Thursday he expects a "modest" pick-up in trade for the upcoming holidays this year amid concerns about the slowing global economy and consumer demand. "Volumes headed into the Christmas season are lower than a normal year," Soren Skou said in a Reuters Newsmaker interview. Ocean freight volumes will be flat or lower this year, though there is still congestion in global supply chains, he said. Maersk has raised its 2022 profit guidance twice this year as high freight rates persisted longer than expected.

☆ Предвыборный Апокалипсис и его всадники. Чем пугают избирателей в Молдове
▼ + stars: | 2021-07-09 | by ( ) newsmaker.md time to read: +10 min

Привычные для молдавских избирателей «русские танки» и «натовские сапоги» сменили в этой предвыборной кампании «смуглые дети», «фашизня» и «приход Антихриста». В связи с этим, по словам Литвиненко, Додон не хочет, чтобы ЦИК запретил или ограничил подвоз избирателей на участки для голосования. Глава офиса AUR в Молдове Влад Билецкий во время предвыборных дебатов призывал избирателей вместе «остановить этот бардак», чтобы партия AUR с партнерами могла сформировать коалицию в будущем парламенте. В противном случае, по словам Билецкого, придется создавать компромиссную коалицию, но в Молдове не было успешного опыта компромиссных коалиций. При этом, по его словам, AUR и в Молдове может попасть в парламент (в Румынии это парламентская партия) и приведет ее туда ПСРМ.

Persons: Игорь Додон, Додон, Владимир Воронин, Воронин, Антихристом, Антихрист, Богдан Цырдя, Штефан, Майя Санду, Цырдя, Сергей Литвиненко, Литвиненко, Плахотнюк, Ренато Усатого, Илан Шор, Влад Билецкий, Билецкий, Усатый, Шор, Василий Костюк, Путин, Костюк, Марк Ткачук, Ткачук, Стелла Жантуан, Жантуан, Корнелиу Чуря, Чуря Organizations: PAS Facebook, PAS, ПКРМПСРМ, ПСРМ, ПКРМ, Совет по предупреждению и ликвидации дискриминации и обеспечению равенства, ЦИК, Румынская партия «Альянс за объединение румын» (), Демократия дома, Гражданский конгресс Locations: Кишинев, Молдова, Украина, Армения, Сирия, Беларусь, Румыния

☆ «Вот так выглядит политическая смерть… Ахахахахах!» Честный подкаст NM о выборах
▼ + stars: | 2021-07-09 | by ( ) newsmaker.md time to read: 1 min

Многие конкуренты называют грядущие выборы решающими. А опросы убеждают нас в том, что кандидатов, по сути, два. Что нам пытались продать на этот раз? В новом редакторском подкасте NewsMaker обсуждаем главное, что нам показала очередная «предвыборка», и к чему Молдове стоит готовиться дальше. У микрофонов — Галина Васильева, Евгений Шоларь и Ольга Гнаткова.

Persons: Галина Васильева, Евгений Шоларь, Ольга Гнаткова Locations: Молдова

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