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☆ Private equity is ready to make moves as the economy sours, but its approach to dealmaking might be different than in years past
▼ + stars: | 2022-11-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

When the going gets tough, PE gets going. Insider's Casey Sullivan and Rebecca Ungarino examined one segment of Wall Street that is primed to take off despite an economy that has left almost everyone hurting. The big question is where will PE firms look to deploy capital. How long PE firms resist those types of deals still remains to be seen, though. People who left Wall Street for crypto aren't second guessing themselves.

☆ Toyota's new Prius has a little more MPG but lots more power
▼ + stars: | 2022-11-16 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —Toyota unveiled an all-new version of its famous Prius hybrid car Wednesday just ahead of the Los Angeles Auto Show. With its batteries fully charged, the new Prius Prime will go at least 50% farther without burning any gasoline as today’s Prius Prime does, according to Toyota. It will be able to produce up to 220 horsepower, 100 horsepower more than today’s Prius Prime. Almost every vehicle in Toyota’s line-up is now available with hybrid power. Along with the Prius, Toyota also unveiled the Toyota BZ Compact SUV concept.

Companies Tesla Inc FollowSAN FRANCISCO, Nov 14 (Reuters) - California prosecutors have asked a court to delay a trial for a Tesla (TSLA.O) Model S driver who faces manslaughter charges over a 2019 crash that left two people dead, according to court documents. Prosecutors want to push back the trial to late February or later, saying two police officers assigned to the case would be on medical leave and vacation. The Los Angeles County District Attorney's Office said the two sides will set a new date for the trial on Tuesday. In October, prosecutors charged Tesla driver Kevin George Aziz Riad of "vehicular manslaughter with gross negligence." Tesla was not charged in the case, but the company's claims about its partially automated driving systems are expected to be in focus.

☆ New car prices are finally coming down. But not by much
▼ + stars: | 2022-11-10 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

CNN —New car prices are finally coming down. Over the past few months, though, prices have fallen to only about $230 over MSRP, on average, according to Edmunds. Land Rover models, on average, still sell for $4,500 over sticker price while Kia models sell for about $1,600 over sticker price. For the past 17 months, though, according to Cox Automotive, vehicle inventory shortages have enabled car dealers to push prices above MSRP. Used car prices are also starting to come down a bit, something that could prod new car shoppers back into the market, said Drury.

☆ Honda posts 16% rise in Q2 operating profit, missing estimates
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Nov 9(Reuters) - Japan's Honda Motor Co (7267.T) on Wednesday posted a 16% rise in second-quarter operating profit, missing analysts' estimates. Operating profit totalled 231.2 billion yen ($1.59 billion)in the three months to end-September, versus an average estimate of 243.3 billion yen profit in a poll of 10 analysts by Refinitiv. The same period a year earlier, the company earned 198.9 billion yen. ($1 = 145.7500 yen)Reporting by Satoshi Sugiyama; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

☆ Binance just bought FTX. Here's how rumors of insolvency and fears of contagion led Sam Bankman-Fried into a deal.
▼ + stars: | 2022-11-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +8 min

Here's the short of it: The once-top-dog crypto firm, FTX, helmed by 30-year-old billionaire Sam Bankman-Fried, is being bought by Binance amid significant liquidity issues and rumors of insolvency. But Binance CEO Changpeng "CZ" Zhao seemed to think saving a floundering FTX was worth the risk of any future downside. CoinDesk published a revealing report on November 2 about the crypto trading firm Alameda Research, another branch of Sam Bankman-Fried's empire. It turns out that the trading firm held billions of dollars' worth of FTX's native token, FTT. Anthony Georgiades, co-founder of blockchain company Pastel Network told me he doesn't think Binance is too concerned about making those investors whole again at this point.

☆ Honda is testing vehicles that could see and communicate in a way that's similar to humans
▼ + stars: | 2022-11-08 | by ( ) www.businessinsider.com time to read: +2 min

Honda is testing a range of "micro-mobility" vehicles that will be able to cooperate with humans. The concept vehicles could help people who don't own cars move around cities. The function would allow them to quickly recognize passable areas, "in the same way that people recognize such areas by seeing things with their own eyes," per the press release. The second is The WaPOCHI, an electric robot designed to follow users around like a pet, per the press release. It'll track users using AI and cameras and is designed to support users in walking, by performing tasks like carrying their bags or other items.

☆ Japan's Honda launches new EV model in China
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 5 (Reuters) - Japan's Honda Motor Co (7267.T) unveiled the second model of its new China-only electric vehicle (EV) lineup on Saturday, targeting the fast-growing, battery-driven car segment in the world's largest auto market. It began selling the first model in China in April. "Honda is transforming itself into an electric brand in China with a series of unique and diverse electric mobility products that only Honda can offer," said Honda CEO Toshihiro Mibe in a statement. Honda laid out a target to roll out 30 EV models globally and produce some 2 million EVs a year by 2030 earlier this year. Last year, it said it would introduce only electrified vehicle models in China after 2030, including battery electric, hydrogen fuel-cell or petrol-electric automobiles.

☆ Honda launches new EV model in China
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

☆ Midterms could be a positive catalyst for stocks as investors await next big inflation report
▼ + stars: | 2022-11-04 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

There are two big hurdles for markets in the week ahead - another potentially hot consumer inflation report and the Congressional midterm elections. "100% of the time, the S & P 500 has been up 12 months after the midterm election." Midterm rallies Stocks tend to gain in the final months of midterm election years, and strategists have been expecting the market to move higher. CFRA Chief Market Strategist Sam Stovall said even when interest rates are climbing, the midterm election has been a catalyst for stocks. He examined market performance in other midterm election years when interest rates were going up.

☆ Some Dodge, Chrysler vehicles deemed dangerous over airbag defect
▼ + stars: | 2022-11-03 | by ( ) www.nbcnews.com time to read: +2 min

Stellantis said replacement driver-side air bags have been available for the vehicles subject to the stop driving notice since 2015. Stellantis said a Takata air bag was suspected in a third death. “Left unrepaired, recalled Takata air bags are increasingly dangerous as the risk of an explosion rises as vehicles age,” said NHTSA Acting Administrator Ann Carlson. Last year, the NHTSA opened a probe into 30 million vehicles built by nearly two dozen automakers that have potentially defective Takata air bag inflators. The 30 million vehicles that are part of the 2021 investigation have inflators with a “desiccant” or drying agent.

☆ Chrysler-parent urges 276,000 U.S. owners to stop driving after air bag deaths
▼ + stars: | 2022-11-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 3 (Reuters) - Chrysler-parent Stellantis (STLA.MI) is urged owners of 276,000 older U.S. vehicles to immediately stop driving after three crash deaths tied to faulty Takata air bag inflators were reported in the last seven months. Stellantis said replacement driver-side air bags have been available for the vehicles subject to the stop driving notice since 2015. More than 30 deaths worldwide and hundreds of injuries in various automakers' vehicles are linked to Takata air bag inflators that can explode, unleashing metal shrapnel inside cars and trucks. Stellantis said a Takata air bag was suspected in a third death. Last year, the NHTSA opened a probe into 30 million vehicles built by nearly two dozen automakers that have potentially defective Takata air bag inflators.

☆ Chrysler-parent air bag crash deaths prompt U.S. alert
▼ + stars: | 2022-11-03 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 3 (Reuters) - Chrysler-parent Stellantis (STLA.MI) on Thursday urged owners of 276,000 older U.S. vehicles to immediately stop driving after three crash deaths tied to faulty Takata air bag inflators were reported in the last seven months. Stellantis said replacement driver-side air bags have been available for the vehicles subject to the stop driving notice since 2015. Stellantis said a Takata air bag was suspected in a recent third death also in a 2010 Charger. There have been more than 400 U.S. injuries reported tied to Takata air bags. Last year, NHTSA opened a probe into 30 million vehicles built by nearly two dozen automakers that have potentially defective Takata air bag inflators.

Critics say Tesla's claims and Autopilot have contributed to accidents – and deaths - by making drivers inattentive. The U.S. Department of Justice is investigating whether Tesla itself should face criminal charges over its self-driving claims, Reuters reported. The car's Autopilot system, which can control speed, braking and steering, was engaged at the time of the crash. The family of Gilberto Lopez is suing Tesla with trial scheduled for July. "The narrative of Tesla potentially shifts from this innovative tech company doing cool things to this company just mired in legal trouble.

☆ Toyota profit to rise but eyes will be on its shaky supply chain, EV strategy
▼ + stars: | 2022-10-31 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +3 min

TOKYO, Oct 31 (Reuters) - Toyota Motor Corp (7203.T) is expected to report a small quarterly profit increase on Tuesday, with soaring costs of parts and materials nearly offsetting the benefits from the plunging Japanese yen and a rebound in production. Toyota warned earlier this month that it is unlikely to meet its 9.7 million vehicle production goal for this financial year due to a scarcity of chips. It will be the first profit increase in three quarters and mark a big improvement from a sharper-than-expected 42% plunge in June quarter profit, partly helped by the yen which has further extended its loss. Toyota estimated in August material cost for the full year to be 1.7 trillion yen, a 17% increase. Just a year into its $38 billion EV plan, Toyota is already considering rebooting it to better compete in a market growing beyond its projections, Reuters reported this month.

☆ NHL roundup: Ducks win in OT to end 7-game slide
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +4 min

[1/5] Oct 30, 2022; Anaheim, California, USA; Anaheim Ducks center Trevor Zegras (11) passes during the 2nd period against the Toronto Maple Leafs at Honda Center. Zegras finished a rush with a shot from the left circle for his sixth goal of the season, ending Anaheim's seven-game losing streak. Yegor Chinakhov scored in the second period for the Blue Jackets, who have lost three straight and four of five. Golden Knights 2, Jets 1 (OT)Jack Eichel scored with seven seconds remaining in overtime as Vegas edged Winnipeg in Las Vegas. Lawson Crouse and Nick Bjugstad scored for Arizona, which dropped its second straight at Arizona State University's 5,000-seat Mullett Arena.

☆ 2023 Honda HR-V: A User-Friendly Crossover That’s Just What You Need
▼ + stars: | 2022-10-28 | by ( Dan Neil | ) www.wsj.com time to read: 1 min

GROWTH SPURT The 2023 Honda HR-V EX-L AWD has been redesigned and re-engineered to share vehicle architecture with the Honda Civic sedan. The HR-V is now almost 9.4 inches longer and 2.6 inches wider. I’ll be in the karmic wash cycle for a thousand years just getting the stink of borrowed Ferraris off me. Compared to those bums, the 2023 Honda HR-V EX-L (compact crossover) is a beautiful study in appropriateness, necessity and sufficiency, finely calibrated in a zillion consumer studies, I’m sure, and priced where the spiritually evolved can get at it: $30,590, as tested. Everything you need; a few things you must have; and about as fast as you can legally go.

☆ One factory worker takes on Mexico's powerful unions
▼ + stars: | 2022-10-27 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +9 min

CTM representatives say their unions defend worker rights, offer perks such as scholarships and sports programs and abide by Mexico's new labor rules. Along with La Liga, other new unions have also won victories over powerful rivals in the past year at GM, Japan's Panasonic (6752.T) and French glassmaker Saint-Gobain (SGOB.PA), pledging better pay. Even among the new crop, La Liga stands out for its broader vision: targeting companies no matter the sector, no matter the location. Leaving her three kids at home, she is traveling factory to factory seeking support. What's more, to drum up support, La Liga must fight a deeply embedded culture of fear and apathy around speaking out.

☆ Yellen touts U.S. battery investments in election battleground Ohio
▼ + stars: | 2022-10-27 | by ( David Lawder | ) www.reuters.com time to read: +2 min

CLEVELAND, Oct 27 (Reuters) - U.S. Treasury Secretary Janet Yellen hailed the beginnings of a Midwest "Battery Belt" on Thursday as a result of the Biden administration's investments in clean energy, infrastructure and semiconductors. "Since January of last year, companies have announced over $100 billion in EV, battery, and charging investments here in America," Yellen said, citing plans for a $4.4 billion battery plant in central Ohio announced earlier this month by Honda Motor Co and LG Energy Solution . "The wave of new battery investments in the Midwest has been so significant that some commentators are dubbing the region as the new 'Battery Belt,'" Yellen said. Yellen also said that bill provides bonus incentives that will encourage investments in low-income communities and cities and sectors that have seen chronic disinvestment and job losses. "This is a place-based investment strategy designed to broaden economic opportunity across all communities," Yellen said.

☆ Some of America's favorite cars, like the Toyota RAV4 and Prius, are now vastly unaffordable thanks to flat wages and astronomical prices
▼ + stars: | 2022-10-27 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

Popular cars like the Toyota RAV4 and Ford Mustang aren't affordable to buy used anymore, according to a new study. For example, a three-year-old Toyota Prius will now run you $32,000. A shortage of new vehicles and other pandemic-related factors have driven car prices through the roof in recent years. "From August of 2019, well before the pandemic lockdowns started, to August of 2022, new car prices increased by almost 29 percent, and three-year-old used car prices increased by 52 percent, but incomes increased by only 13%," said Karl Brauer, executive analyst at iSeeCars. A three-year-old used car needs to cost $25,542 or less to be affordable under iSeeCars' criteria.

Oct 21 (Reuters) - Garden equipment and tools maker Husqvarna (HUSQb.ST) on Friday reported third-quarter operating profit well below market expectations, and said it would restructure its business and cut 1,000 jobs. The Swedish company reported a 40% drop in its quarterly operating profit to 555 million Swedish crowns ($49.1 million), down from 926 million crowns a year earlier and below the 644.2 million crowns expected by analysts in a Refinitiv poll. Register now for FREE unlimited access to Reuters.com Register"Price increases compensated for higher raw material and logistics costs. However, lower volumes and higher costs related to supply chain disturbances had a negative impact," Husqvarna said. Husqvarna said the "vast majority" of the job cuts were related to the shift from petrol to battery-powered tools.

☆ Why BMW really decided to make batteries in the US
▼ + stars: | 2022-10-20 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

That sum included $700 million for the construction of a battery manufacturing plant nearby. It’s one of a number of such announcements in recent months and years as automakers gear up to start producing more electric vehicles. The rules allow consumer tax credits only for electric vehicles that meet increasingly strict goals for US-based manufacturing of the vehicles themselves, as well as their batteries. BMW has never said publicly that it intends to make only electric vehicles after any certain time. “We can easily ramp them up,” Zipse said of increasing regulatory demand for electric vehicles.

☆ Honda Motorcycles & Scooters India to launch flexi-fuel model by end-2024
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: 1 min

Employees work on an assembly line of Honda Motorcycles & Scootesr India at Vithalapur town in the western state of Gujarat, India, February 17, 2016. REUTERS/Amit Dave/File PhotoNEW DELHI, Oct 19 (Reuters) - Honda Motorcycles and Scooters India plans to launch a flexi-fuel model of motorcycle in India by end-2024, the company's CEO said on Wednesday. "Our internal target is minimum, one model, the first model of flexi-fuel motorcycle to be launched by end-2024," Atsushi Ogata, chief executive officer of Honda Motorcycles and Scooters India said at the International Conference on Biofuels in New Delhi. Register now for FREE unlimited access to Reuters.com RegisterReporting by Mohi Narayan, Writing by Tanvi Mehta; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Intel's Mobileye IPO eyes significantly lower valuation - report
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

Oct 17 (Reuters) - Intel Corp (INTC.O) is eyeing a valuation that is significantly lower than previously expected for the initial public offering of its self-driving car unit Mobileye, the Wall Street Journal reported on Monday, citing people familiar with the matter. Mobileye, which was originally expected to land a roughly $50 billion valuation, is now set to target one of under $20 billion and sell a smaller number of shares than originally planned, according to the report. Register now for FREE unlimited access to Reuters.com RegisterThe lower valuation underscores the downturn in the market for new listings, with the tech IPO market facing its worst drought in nearly two decades. The self-driving car unit is also planning to launch its roadshow for prospective investors on Tuesday, a day later than anticipated, WSJ reported. Register now for FREE unlimited access to Reuters.com RegisterReporting by Deborah Sophia in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Review: Driving the $360,000 Bentley Continental GT Speed is the closest I'll ever get to heaven on Earth
▼ + stars: | 2022-10-17 | by ( Alanis King | ) www.businessinsider.com time to read: +9 min

The Bentley Continental GT Speed. The Bentley Continental GT Speed. The Bentley Continental GT Speed. The Bentley Continental GT Speed. The Bentley Continental GT Speed.

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