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CNN —Germany announced Wednesday that it is ramping up its border controls with neighboring Poland and the Czech Republic to “limit human trafficking,” as the country faces fierce debate on its migration policy while asylum applications surge. Police will carry out “additional flexible checks and mobile controls along the smuggling routes at the borders with Poland and the Czech Republic,” Interior Minister Nancy Faeser told the press. The announcement came as the interior minister raised the possibility of implementing fixed controls along the borders with its two eastern neighbors this week. Until now, the southern state of Bavaria on the Austrian border was the only part of Germany with stationary border controls, a legacy of the 2015-2016 migration crisis when Europe’s leading economy took in over a million refugees. “We are fighting to keep internal border controls open within the European Union.

Persons: CNN —, Nancy Faeser, Lisi Niesner, Chancellor Olaf Scholz’s, Faeser, Italy –, Berlin’s, ” Alexander Handschuh, Handschuh, Angela Merkel’s Organizations: CNN, Police, ”, Immigration, Scholz’s Social Democratic Party, European Union, Office, Migration, Refugees, German Federal Police, German Association of Towns Locations: Poland, Czech Republic, Czech, Bavaria, Austrian, Germany, Polish, Forst, Hesse, Italy, Berlin, –, Brussels, “, Ukraine, Municipalities

☆ As Russia's war in Ukraine drags on, Kyiv's neighbors are loading up on new high-tech military gear
▼ + stars: | 2023-09-27 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +8 min

AdvertisementAdvertisementRussia's invasion of Ukraine has upended European security, driving countries there to plan once again for the possibility of a major land war. Those European countries have transferred billions of dollars' worth of military hardware to Ukraine, and now they are seeking to rebuild their own stocks. Poland and Romania both border Ukraine and have been affected by the war. US Army/Markus RauchenbergerBased on disclosed weapon transfers, Poland is Europe's second biggest contributor of military aid to Ukraine, sending Kyiv large quantities of Soviet-era arms. AdvertisementAdvertisementPoland also announced in September a $2 billion purchase of several hundred Naval Strike Missiles from Norway.

Persons: —, Markus Rauchenberger, HIMARS, Mariusz Blaszczak, Attila Husejnow, Abrams, DANIEL MIHAILESCU, spender, Constantine Atlamazoglou Organizations: Service, US Army, Baltic Fleet, Polish, Getty, Patriot, Lower Tier Air and Missile Defense Sensors, US, US State Department, Apaches, NATO, Polish Air Force, Washington, Getty Images, Naval, Missiles, Reuters, Fletcher School of Law, LinkedIn, Twitter Locations: Ukraine, Europe, Eastern Europe, Poland, Romania, Warsaw, Bucharest, Norway, NSMs, Kaliningrad, Poland's, Belarus, South Korea, Seoul, Romanian, AFP, Getty Images Romania, Eastern, Slovakia, Czech Republic

That's about 1 million square kilometers less ice than the previous winter record set in 1986. REUTERS/Ueslei Marcelino/File Photo Acquire Licensing RightsThe summer Antarctic sea ice extent also hit a record low in February, breaking the previous mark set in 2022. Sea ice extent there grew between 2007 and 2016. The shift in recent years toward record-low conditions has scientists concerned climate change may finally be presenting itself in Antarctic sea ice. The study found that warming ocean temperatures, driven mainly by human-caused greenhouse gas emissions, are contributing to the lower sea ice levels seen since 2016.

Persons: It's, it's, Walt Meier, NSIDC, Ueslei Marcelino, Meier, Ariaan Purich, Jake Spring, Bill Berkrot Organizations: U.S, National, Data, REUTERS, Communications, Australia's Monash University, Thomson Locations: Antarctica

☆ Video shows Ukraine's 'hornet' drones following Russia's tanks and plopping grenades on top of them
▼ + stars: | 2023-09-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

Ukraine published a video showing its drones dropping grenades on Russian tanks on open roads. The drones followed the vehicles for a short distance, before dropping the explosives on the tanks. AdvertisementAdvertisementUkraine's military released a video on Wednesday of its drones harassing Russian tanks with grenades. The drones, which a video caption called the "Hornets of Dovbush," were seen dropping the grenades on the Russian armor after tailing the vehicles on an open road. The Ukraine war has increasingly seen the use of drones on the battlefield, including small commercial drones taped with artillery shells.

Persons: —, Oleksy Dovbush, Robin Hood, Dovbush Organizations: Service, Hornets, Armed Forces Locations: Ukraine, Russian, Dovbush, Russia

☆ Long US shutdown is avoidable but seems inevitable
▼ + stars: | 2023-09-26 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

Their requests are so extreme that the measures stand no chance of passing in the Democratic-controlled Senate, which is required to avoid a shutdown. While it could be either avoidable or short-lived, a longer shuttering of the U.S. government seems inevitable. Both chambers of the U.S. legislative branch are making last-ditch efforts to dodge a shutdown before the Sunday deadline. Representative Marjorie Taylor Greene said on Sunday she opposes the budget’s $300 million charge for training Ukrainian troops – that amounts to 0.02% of the total $1.5 trillion budget. The last stoppage, which lasted a record seven weeks between 2018 and 2019, was only solved through compromise between House Democrats and Senate Republicans.

Persons: Kevin McCarthy, Marjorie Taylor Greene, Donald Trump, McCarthy, Joe Biden, “, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, Congress, U.S . House, Democratic, Republican, House Republicans, Justice Department, Internal, House Democrats, Senate, Republicans, Thomson Locations: U.S, Mexico, Ukraine

☆ US retailers' financial losses jump as retail crime escalates - NRF
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

In 2022, inventory "shrink" as a percentage of total retail sales accounted for $112.1 billion in losses, up from $93.9 billion in 2021, according to the NRF report on Tuesday. Retailers are either being forced to close a specific store location, reduce operating hours or alter in-store product selection to deal with the spike in retail crime, the report added. Dollar Tree (DLTR.O) has said it plans to remove goods like men's underwear, an item most prone to retail theft, from its stores. Retailers are ramping up prevention methods with 34% of respondents increasing internal payroll to support risks related to retail crime and 46% increasing the use of third-party security personnel among other methods, according to NRF. The NRF survey was conducted online among senior loss prevention and security executives in the retail industry with insights from 177 retail brands.

Persons: Brendan McDermid, David Johnston, John Rainey, Ananya Mariam Rajesh, Savyata Mishra, Siddharth Cavale, Shounak Dasgupta Organizations: Black, REUTERS, National Retail Federation, U.S, Kroger, Asset Protection, Retail, Retailers, Walmart, Telsey, Thomson Locations: Brooklyn , New York, U.S, New York, San Francisco , Los Angeles, Houston, Britain, Bengaluru

☆ Sales of newly built homes reverse course, drop nearly 9% in August
▼ + stars: | 2023-09-26 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Sales of newly built homes fell 8.7% in August from July, to a seasonally adjusted annualized pace of 675,000 units, according to the U.S. Census Bureau. The Census count is based on signed contracts during the month, and mortgage rates took a sharp jump higher. The median price of a newly built home sold in August was $430,300, a drop of 2% compared with August of last year. Homebuilders have been lowering prices as well as offering more incentives, like buying down mortgage rates. One of the nation's largest homebuilders, Lennar, recently reported strong earnings, but that was for a quarter where mortgage rates hadn't hit their highest yet.

Persons: Imogen Pattison, Homebuilders, Stuart Miller, Miller, Robert Dietz, NAHB's Organizations: . Census, Mortgage News, Capital Economics, National Association of Home Builders

☆ The US economy could end up like China's as massive debt weighs on growth, market expert says
▼ + stars: | 2023-09-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The US economy could face a "long, slow grind" as huge debts take their toll, Ruchir Sharma wrote. There has been $8 trillion in new federal spending since 2021, he said in the Financial Times. "Many nations have come to regret massive stimulus campaigns, as the resulting debts weighed on growth." Big spender China was credited with 'saving the world' after 2008, but it has seen growth slow since then," Sharma said. When the stimulus and other temporary boosts wear off, the American economy could settle into a long, slow grind."

Persons: Ruchir Sharma, Biden, Big spender China, Sharma Organizations: Financial Times, Service, The Rockefeller International, Federal Reserve, China, Reserve Locations: Wall, Silicon, American, China

☆ Egypt’s Government Is Bulldozing the City of the Dead - The New York Times
▼ + stars: | 2023-09-25 | by ( Hussein Omar | ) www.nytimes.com time to read: +2 min

It’s the oldest continuously used Muslim cemetery in the world, and its history traces back to the seventh century. The City of the Dead has always been a city of the living as well. My visits, and the small acts of tending to the dead, helped me make meaning out of a meaningless loss. The City of the Dead does not just house my own personal memories; it is one of the last remaining open repositories of Egypt’s historical memory. Now the dead are being exhumed, the living are being evicted, and the historic buildings that house them both are being bulldozed.

Persons: grievers, Cairenes, I’ve, Abdel Fattah el Locations: Cairo, al, City, Egypt

☆ Ukraine says it launched its missile strike on the headquarters of Russia's Black Sea fleet to coincide with a meeting of Russian naval officers
▼ + stars: | 2023-09-25 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Ukraine said it timed its strike on Russia's Black Sea Fleet to a meeting of the fleet's leadership. Budanov said one of the injured was Colonel General Alexander Romanchuk, the general in charge of Russian forces in Zaporizhzhia. However, he refused to confirm the rumored death of Admiral Viktor Sokolov, commander of Russia's Black Sea Fleet. This suggests that it wasn't just a strike on the Black Sea Fleet HQ, but timed to target key senior leaders during a meeting." AdvertisementAdvertisementThe attack on the Black Sea Fleet headquarters is the latest in a series of attacks on Crimea and Russia's naval presence there.

Persons: Kyrylo Budanov, Budanov, General Alexander Romanchuk, Viktor Sokolov, Sokolov, Rob Lee, Ukraine's Organizations: Fleet, Special Operations Forces, Service, General Staff of, Armed Forces, America, Foreign Policy Research Institute, Black Locations: Ukraine, Crimea, Wall, Silicon, Ukrainian, Sevastopol, Russia, Crimean, Zaporizhzhia

That's about 1 million square kilometers less ice than the previous winter record set in 1986. The summer Antarctic sea ice extent also hit a record low in February, breaking the previous mark set in 2022. While climate change is contributing to melting glaciers in Antarctica, it has been less certain how warming temperatures are impacting sea ice near the southern pole. Sea ice extent there grew between 2007 and 2016. The shift in recent years toward record-low conditions has scientists concerned climate change may finally be presenting itself in Antarctic sea ice.

Persons: It's, it's, Walt Meier, NSIDC, Meier, Ariaan Purich, Jake Spring, Bill Berkrot Organizations: U.S, National, Data, Communications, Australia's Monash University, Thomson Locations: Antarctica

☆ China state asset manager plans $14 bln emerging industry fund -report
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Sept 24 (Reuters) - China Reform Holdings Corp, a Chinese manager of state assets, plans to raise at least 100 billion yuan ($13.70 billion) for a fund that will invest in emerging industries, the China Business News reported on Sunday. China's state-owned enterprises (SOEs) have been ramping up investment in emerging and strategic industries such as artificial intelligence, new energy, new materials and biotech as part of Beijing's SOE reforms. China Reform Holdings was set up in 2021 and tasked with deepening SOE reforms. It managed nearly 860 billion yuan of assets at the end of 2022, according to the company's website. ($1 = 7.2980 Chinese yuan renminbi)Reporting by Shanghai newsroom; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Jamie Freed Organizations: China Reform Holdings Corp, China Business, SOE, China Reform Holdings, Shanghai, Thomson Locations: SHANGHAI, China, China's

☆ Meta and Salesforce are looking to re-hire some workers they just laid off. It's putting those people in an awkward spot.
▼ + stars: | 2023-09-24 | by ( Tim Paradis | ) www.businessinsider.com time to read: +7 min

Companies like Meta, the parent of Facebook, and Salesforce are bringing back some of the workers they let go . In some cases where the layoffs were conducted reasonably well, a return might be something former workers would consider. Whether to return is a question some former Salesforce workers are likely asking. She said workers considering returning to a former employer might ask themselves questions such as: Why was I laid off? Now it's tech workers' turn.

Persons: Sandra Sucher, Harvard Business School who's, Sucher, they'd, Salesforce, Marc Benioff, —, Salesforce execs, What's, who'd, lockdowns, it's, ChatGPT Organizations: Big Tech, Service, Companies, Meta, Facebook, Harvard Business School, Bloomberg, Workers, LinkedIn Locations: Wall, Silicon

☆ China state asset manager plans $14 billion emerging industry fund, China Business News reports
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +1 min

Coins and a banknote of China's yuan are seen in this illustration picture taken February 24, 2022. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsSHANGHAI, Sept 24 (Reuters) - China Reform Holdings Corp, a Chinese manager of state assets, plans to raise at least 100 billion yuan ($13.70 billion) for a fund that will invest in emerging industries, the China Business News reported on Sunday. China Reform Holdings was set up in 2021 and tasked with deepening SOE reforms. It managed nearly 860 billion yuan of assets at the end of 2022, according to the company's website. ($1 = 7.2980 Chinese yuan renminbi)Reporting by Shanghai newsroom; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Jamie Freed Organizations: REUTERS, Rights, China Reform Holdings Corp, China Business, SOE, China Reform Holdings, Shanghai, Thomson Locations: China, China's

☆ Ukraine's new defense minister says he wants to rebuild the country's military industrial complex
▼ + stars: | 2023-09-23 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +2 min

Ukraine's new defense minister says the country is focusing on increasing local arms production. In the meantime, the US has announced another boost to artillery shell production to aid Ukraine. Now, two weeks into the job, Umerov said one of his top priorities is to rebuild Ukraine's cache of ammunition by ramping up local production, using local manufacturers whenever possible, The Economist reported. Umerov said he plans to boost local production by reforming state enterprises and incentivizing private arms manufacturers, which make up between 20% and 30% of local production, according to The Economist. Under Umerov, those private manufacturers could eventually account for as much as 80% of local output within five years, Oleksandr Kamyshin, Ukraine's minister of strategic industries, told the outlet.

Persons: Rustem Umerov, Umerov, Bill LaPlante, Oleksandr Kamyshin Organizations: US, Service Locations: Ukraine, Wall, Silicon, Russia

☆ Apple's iPhone seen gaining market share in India as Pro model demand rises
▼ + stars: | 2023-09-22 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsSept 22 (Reuters) - Apple (AAPL.O) is expected to gain a larger share of India's smartphone sales, with the high-end iPhone 15 Pro and Pro Max models accounting for more of its shipments. The tech giant has been touting India as its next big growth driver amid declining sales of its flagship device. Wait times in India for Apple's latest 15 Pro and Pro Max models, that go on sale Friday, are stretching up to late October, mirroring trends seen in China and the U.S. Still, Apple has a long way to go before the country could bring in sales seen in the company's major markets. Morgan Stanley, in a note earlier this month, estimated that Apple's revenue from India is about half that of China.

Persons: Francis Mascarenhas, Max, Tim Cook, Apple, Morgan Stanley, Yuvraj Malik, Shounak Dasgupta Organizations: Apple, REUTERS, Reuters, Apple's, Counterpoint, IDC, Samsung, Thomson Locations: Mumbai, India, China, U.S, Bengaluru

☆ Morgan Stanley says these 6 global stocks will benefit from a 'monumental shift' in the chip industry
▼ + stars: | 2023-09-22 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

A "monumental shift" is underway in the semiconductor industry — and a raft of stocks are set to benefit, according to analysts at Morgan Stanley . "The transition to 3D 'gate-all-around' architecture marks a monumental shift for leading-edge logic chip architectures," the analysts said. Though industry players expect that initial gains will be "relatively subdued," Morgan Stanley is optimistic that the shift will create a "roadmap into the next decade." Stock picks Here are some of the stocks Morgan Stanley expects will benefit: Lam Research is one of the stocks the bank rated overweight. Morgan Stanley analysts agreed with the company's statement that "gate-all-around is good for the industry, [so] good for ASML."

Persons: Morgan Stanley, TSMC, it's, — CNBC's Michael Bloom Organizations: ramping, Materials, ASM, ASML, Intel, Samsung, GAA Locations: U.S, Swiss

☆ Broadcom falls on report Google discussed dropping firm as AI chip supplier
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

The report said Google's deliberations follow a standoff between the company and Broadcom over the price of the TPU chips. Broadcom, Google and Marvell did not immediately respond to Reuters' requests for comment. Broadcom is seen as the second-biggest winner from the generative AI boom after Nvidia (NVDA.O). Google co-designs its AI chips with Broadcom and tech giant has already lined up the semiconductor firm for its sixth generation processor, the analysts said. That push has accelerated this year after prices surged for Nvidia's H100, the chip that powers most generative AI apps, to nearly double its original cost of $20,000.

Persons: Dado Ruvic, Marvell, Hock Tan, Morgan, Kanjyik Ghosh, Aditya Soni, Savio D'Souza, Nivedita Bhattacharjee, Krishna Chandra Organizations: Broadcom, REUTERS, Google, Microsoft, Marvell Technology, Nvidia, Meta, Nvidia's, Thomson Locations: J.P, Bengaluru

☆ Governors, Biden administration push to quadruple efficient heating, AC units by 2030
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: +5 min

Climate Alliance and the Biden administration are expected to announce a pledge Thursday to quadruple the number of heat pumps in U.S. homes by 2030, from 4.7 million to 20 million. Heat pumps use little electricity, yet are able to heat and cool buildings. Buildings account for more than 30% of global greenhouse gas emissions. The pledge on heat pumps is a collection of state initiatives to work toward the goal of ramping down emissions to zero by 2050. Alliance governors have pledged to collectively reduce their greenhouse gas emissions by at least 26% by 2025 and at least 50% by 2030, compared to 2005 emission levels.

Persons: Biden, Washington Governor Jay Inslee, Stephen Porder, Amanda Smith, we've, Janet Mills, Ali Zaidi Zaidi, Kathy Hochul, Alexandra Rempel Organizations: U.S . Climate Alliance, Washington Governor, Brown University, U.S, Heat, International Energy Agency, New, University of Oregon Locations: Brooklyn, New York City, U.S, Pennsylvania, Providence , Rhode Island, Maine, Washington , New York, California, Paris

Persons: Biden, Jay Inslee, Stephen Porder, ”, Amanda Smith, we’ve, Janet Mills, “, Ali Zaidi Zaidi, Kathy Hochul, Alexandra Rempel Organizations: U.S . Climate Alliance, Washington, Brown University, U.S, Heat, International Energy Agency, “, New, University of Oregon, AP Locations: U.S, Pennsylvania, Providence , Rhode Island, Maine, Washington , New York, California, Paris

The so-called “hijab bill” will be enacted for a three-year trial period. On Thursday, the Iranian parliament passed a controversial bill ramping up penalties against women who do not wear the hijab properly. Those who collude with foreign media and governments to promote nudity, improper hijab, or improper dress, face up to 10 years in prison, the new bill adds. Those who are found guilty of ridiculing or insulting the hijab face a fine, in addition to a possible travel ban up to two years, the bill says. The draft law would also mandate broader gender segregation in universities – common hotbeds of civilian protests – and other public spaces.

Persons: CNN —, Mahsa, ”, Majid Asgaripour, Amini’s, ” Sanam Vakil, Hossein Raeesi, Raeesi, General Saeed Montazerolmahdi Organizations: CNN, Guardian Council, Reuters, UN, Authorities, Chatham, Carleton University Locations: Islamic Republic, Tehran, East, North Africa, London, Iranian, Ottawa, Canada, Iran

☆ Zelensky urges Trump to share Ukraine peace plan but says he won’t give territory to Russia
▼ + stars: | 2023-09-19 | by ( Jeremy Herb | ) edition.cnn.com time to read: +6 min

CNN —Volodymyr Zelensky urged Donald Trump to share his peace plans publicly if the former US president has a way to end the war between Ukraine and Russia – but the Ukrainian president cautioned in an interview Tuesday that any peace plan where Ukraine gives up territory would be unacceptable. Pressed Sunday on NBC’s “Meet the Press” about whether the deal would let Putin keep the land he’s taken, Trump said, “No, no. In the interview, Zelensky gave a positive assessment of Ukraine’s ongoing counteroffensive, which has sparked concerns that it’s failing to achieve expected results. “It’s so difficult to understand when you are in war, and when you are not in war,” Zelensky said. McCarthy, who is expected to meet with Zelensky along with other House leaders, declined Tuesday to commit to more funding for Ukraine.

Persons: Volodymyr Zelensky, Donald Trump, ” Zelensky, CNN’s Wolf Blitzer, he’s, ”, Putin, ” Trump, Zelensky, Vladimir Putin, Trump, “, Kevin McCarthy, Joe Biden, Blitzer, McCarthy, ” Biden, Biden, we’ve, ‘ Organizations: CNN, United Nations General Assembly, United Nations, GOP, Senate, Republican, UN, Assembly, White, Capitol, Ukraine, California Republican, Tactical Missile Systems Locations: Ukraine, Russia, Crimea, United, Washington, DC, California

The lawsuit against the IRS is only the latest in a series of counterpunches by the president's son. Now, Hunter Biden could be heading to trial in the midst of his father’s reelection effort. Hunter Biden, according to his memoir, tumbled into drug addiction after the death of his older brother, Beau, in 2015. Earlier this year Hunter Biden hired high-profile attorney Abbe Lowell, a legal heavyweight known for also representing Jared Kushner and Ivanka Trump. “And it is not even touching on the issue of whether people think that he is being prosecuted because he’s Hunter Biden," she said.

Persons: — Hunter Biden, Hunter, Biden, Hunter Biden aren't, ”, David Brock, “, Hunter Biden, Hunter Biden’s, Donald Trump, Biden hasn't, Trump, Hunter Biden's, Michael LaRosa, ” LaRosa, Joe Biden, —, that's, Beau, Abbe Lowell, Jared Kushner, Ivanka Trump, Mr, Jennifer Rodgers, he’s Hunter Biden, ___ Durkin, Michael Balsamo Organizations: WASHINGTON, IRS, White, Democratic, Biden, Associated Press, House Republicans, Trump, Justice Department, Republicans, NORC, for Public Affairs Research Locations: United States, Delaware, Boston

☆ New York is cracking down on illegal weed stores as legal market struggles to take hold
▼ + stars: | 2023-09-18 | by ( Stefan Sykes | ) www.cnbc.com time to read: +3 min

A pedestrian passes a smoke shop in New York City on June 16, 2023. New York authorities are cracking down on unlicensed smoke shops that are selling cannabis. Currently, there are just 23 legal dispensaries open across the state, with only nine in New York City. But its effort has only begun to chip away at the vendors, particularly in New York City. In addition to skirting the tax system, smoke shops operating illegally may also pose significant health risks.

Persons: Spencer Platt, We're, Daniel Haughney Organizations: New, Getty, New York, Office, of Cannabis Management, CNBC, New York state's, Cannabis Management, New York City, New York Medical Cannabis Industry Association, Cannabis Control Locations: New York City, New York, New

☆ Joby Aviation to build air taxi production plant in Ohio
▼ + stars: | 2023-09-18 | by ( Valerie Insinna | ) www.reuters.com time to read: +2 min

A Joby Aviation Air Taxi is seen outside of the New York Stock Exchange (NYSE) ahead of their listing in Manhattan, New York City, U.S., August 11, 2021. Joby intends to begin hiring "immediately" to stand up manufacturing of aircraft components at existing buildings at the Dayton site, Bevirt said. Construction of the new production facility will begin in 2024, with operations to start in 2025. Bevirt declined to comment on initial production rates and how much funding would be immediately allocated to construct the Dayton facility. The state of Ohio and several political organizations have offered up to $325 million in incentives and benefits to develop the Dayton site, Joby said.

Persons: Andrew Kelly, JoeBen Bevirt, Joby, Bevirt, Valerie Insinna, Timothy Gardner Organizations: Aviation Air Taxi, New York Stock Exchange, REUTERS, Rights, Electric, Joby Aviation, Dayton International, Reuters, Federal Aviation Administration, Pentagon, Archer Aviation, Beta Technologies, FAA, Thomson Locations: Manhattan , New York City, U.S, Dayton , Ohio, California, Dayton, Ohio

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