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☆ Gold heads for monthly gain on hopes for an end to rate-hike cycle
▼ + stars: | 2023-07-31 | by ( ) www.cnbc.com time to read: +2 min

Bars of gold are seen at the Krastsvetmet company, one of the world's largest producers of precious metals in Moscow, Russia on January 31, 2023. Gold prices were bound for their biggest monthly gain in four on Monday as expectations grew that major global central banks may be nearing the end of current monetary policy tightening cycles. Spot gold was down 0.2% at $1,954.79 per ounce by 0431 GMT, while U.S. gold futures slipped 0.4% to $1,953.80 per ounce. Gold prices were set to end the month about 1.8% higher, the most since March, as expectations that U.S. interest rates could be nearing their peak put the dollar on track for its second straight monthly decline. Other precious metals also looked set to post monthly rises, with spot silver leading at 6.5%, but down 0.5% on the day at $24.22 an ounce.

Persons: Matt Simpson, Simpson, Baden Moore Organizations: Federal Reserve, Central Bank, National Australia Bank Locations: Moscow, Russia, China

☆ Analysis: Country music is at a crossroads. Two of its most viral songs show why
▼ + stars: | 2023-07-29 | by ( Aj Willingham | ) edition.cnn.com time to read: +8 min

The struggle for the soul of country music is on full display now as two very different songs have been making headlines. Michael Loccisano/Getty ImagesThese two songs, so differently received yet recorded under the same big country umbrella, are an embodiment of the crossroads where country music currently stands. Like all musical traditions that fuse, evolve and splinter, country music and its legions of fans are engaged in a negotiation for the genre’s main identity. When the Dixie Chicks spoke out against the Iraq War in the early 2000s, their popularity in country music circles never fully recovered.. Small towns, fast cars and American values are as essential to country music as four chords and the truth.

Persons: Jason Aldean, Luke Combs, Tracy Chapman, Chapman, Combs, ”, Tracy, ” Chapman, “, Luke, Bryan Bedder, they’ve, Aldean, Little Richard, Otis Redding, ” Aldean, —, Holly G, Morgan Wallen, Michael Loccisano, foremothers, Willie Nelson, Dolly Parton, ” Combs, it’s Organizations: CNN, CMT, Billboard, Singer, Amarillo, Black Opry, Washington Post, Texas Democrat, country’s, Dixie, Grand Ole Opry Locations: Copenhagen, underrepresentation, Aldean, Macon , Georgia, Iraq

☆ Gold prices brace for biggest weekly decline in five
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: +2 min

At Agosi AG in Pforzheim, freshly cast gold granules are on display that have a fine gold content of 99.99 percent. Gold prices held near two-week lows on Friday after strong U.S. economic data spurred the dollar and bond yields in a high interest rate environment that dragged the non-interest-bearing metal towards its biggest weekly decline in five. Bullion has declined 0.4% so far in the week, heading for its biggest weekly fall since June 23. "Any confirmation of an adjustment at the upcoming meeting will bring about upside risks to global bond yields and weigh on the non-yielding yellow metal further." Higher U.S. interest rates and Treasury bond yields raise the opportunity cost of holding gold.

Persons: Bullion, Yeap Jun Rong Organizations: Agosi AG, Bank of Japan, IG, U.S, Fed, Higher Locations: Pforzheim, Baden, Württemberg, U.S

☆ The biggest investment opportunity in Japan lies in its second tier companies: portfolio manager
▼ + stars: | 2023-07-27 | 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 EmailThe biggest investment opportunity in Japan lies in its second tier companies: portfolio managerJamie Halse of Platinum Asset Management sees a 'great fundamental story' in Japan and explains why he thinks more investors should be looking into that market.

Persons: Jamie Halse Organizations: Asset Management Locations: Japan

☆ Gold hits 1-week high on softer dollar after Powell's comment
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold prices rose to a one-week high on Thursday, supported by a slightly weaker dollar, while traders digested fairly balanced comments from U.S. Federal Reserve Chair Jerome Powell after a widely expected interest rate hike. The Fed raised interest rates by a quarter-of-a-percentage point on Wednesday, highlighting that another 25 basis-point hike could be in September based on a wide range of data. Gold is highly sensitive to rising interest rates as they increase the opportunity cost of holding non-yielding bullion. The dollar index was lower, supporting bullion as a weaker dollar makes gold cheaper for holders of other currencies.

Persons: Jerome Powell, Brian Lan, Powell Organizations: Aurum, U.S . Federal, GoldSilver Locations: U.S, Brian Lan of Singapore, United States, China

☆ Gold listless as traders avoid big bets ahead of Fed decision
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: +2 min

Gold struggled for momentum on Wednesday as traders refrained from making big bets ahead of the U.S. Federal Reserve's policy decision later in the day. Spot gold held steady at $1,963.99 per ounce by 0546 GMT, while U.S. gold futures were up 0.1% to $1,965.20. Gold is highly sensitive to rising interest rates as they increase the opportunity cost of holding non-yielding bullion. Along with policy guidance from the European Central Bank, traders also await second-quarter U.S. GDP data due on Thursday. As per the International Monetary Fund, the bank should start preparing for future monetary tightening.

Persons: Gold, Jun Rong, Yeap Organizations: U.S, IG, Treasury, European Central Bank, PCE, Bank of Japan's, Monetary Fund Locations: Siberian, Krasnoyarsk, Russia, U.S . Federal, U.S, Asia, Japan

With these Delta credit card offers, you can earn up to 100,000 Delta miles, which don't expire. Delta Credit Card OffersAmex Delta credit cards give you the ability to use Delta miles in a way that non-cardholders can't. However, Insider estimates that Delta miles are worth 1.1 cents each, on average, when booking award flights. That's much higher than the previous card bonus, which was 50,000 bonus miles and 10,000 MQMs after meeting minimum spending requirements. Amex Business Delta Reserve Card ReviewDo You Qualify for These Delta Card Bonuses?

Persons: cardholders, Insider's, you've, We're, Miles, You'll, you'll, it's Organizations: Delta, Getty, Service, American Express, Delta SkyMiles Gold American, Card, U.S . Supermarkets, U.S, PayPal, Reading Chevron, American, TSA, Delta Sky, Global, TSA PreCheck, Delta Sky Club, SkyMiles Reserve American, ®, SkyMiles ®, Delta SkyMiles ®, Delta Sky Clubs, Chevron, American Express Card, Delta Reserve, Gold Business American, Business American, Delta American Express, SkyMiles Reserve Business, SkyMiles, Delta SkyMiles, Express Locations: Wall, Silicon, delta.com, U.S, Delta

☆ HGTV's Galey Alix wants to be a star. Will the spotlight crush her — or set her free?
▼ + stars: | 2023-07-25 | by ( Anna Peele | ) www.businessinsider.com time to read: +19 min

Alix is the creator and star of the HGTV show "Home in a Heartbeat With Galey Alix," which premiered in April and streams on Max. Galey Alix Gravenstein comes from a family of overachievers. Alix got to work with Jay Delgado, remaking Calloway's blank white box into a Galey Alix take on a rich person's beach house. In April 2021, Parker, who had no renovation experience, offered to help Alix with an install. He and Lauren Parker insist Alix is OK because she's able to ask people like them for help without fear.

Persons: Galey Alix, Nancy Meyers, Dale Moss, Alix, semiprivate, fiancé, Goldman Sachs, Joanna Gaines, Drew Scott, Alix gravitates, Jay Delgado, PJ Fetscher, Instagram, she's, she'll, Sonya Revell, —, It's, Goldman, I'm, Galey Alix Gravenstein, she'd, Alix didn't, Alix's fiancé, Carrie Calloway, who'd, Mac, Calloway, I'd, Lauren Parker, Parker, Delgado, Fetscher, Kay Marryshow, she's fallible, Phil, Alix's Instagram, it's, She's, Moss, of Moss, he's, Rebecca Zisser, Crystal, Anna Ruiz, Agency Gerard, Ester Gattuso, Susana Betancourt Organizations: grays, Goods, Fort, HGTV, Goldman, Target, University of Florida, Home Depot, Parker, Netflix, Crystal Cox, Agency, Agency Gerard Artists Locations: Italian, Fort Lauderdale, Max, Florida, overachievers, New York, Connecticut, fiancé's Connecticut, Westport , Connecticut, Target, Instagram, Australia, London, India , Puerto Rico, Wyoming, Orlando, peeking

☆ Gold prices range-bound as traders focus on central bank decisions
▼ + stars: | 2023-07-24 | by ( ) www.cnbc.com time to read: +2 min

A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt. arranged in Budapest, HungaryGold prices held steady on Monday as investors awaited a U.S. Federal Reserve meeting this week where the central bank could signal a pause in interest rate hikes from July. Spot gold was little changed at $1,960.01 per ounce by 0536 GMT, while U.S. gold futures fell 0.2% to $1,961.80. With a Fed rate hike in the July meeting nearly certain, "a positive outlook for gold revolves around central bank buying to drive long-term gold prices," said Michael Langford, chief investment officer at Scorpion Minerals. Along with the Fed, the European Central Bank, or ECB, and the Bank of Japan are also meeting this week.

Persons: Michael Langford, Jerome Powell, Christine Lagarde, Tim Waterer Organizations: Heraeus SA, Solar, Federal Reserve, Scorpion Minerals, Fed, European Central Bank, Bank of Japan, KCM Trade, UBS Locations: Budapest, Hungary, U.S

☆ A Singles Party, Where Chaos Is the Point
▼ + stars: | 2023-07-24 | by ( Gina Cherelus | More About Gina Cherelus | ) www.nytimes.com time to read: 1 min

“Are any of you guys drinking Jack and Coke right now,” Jesus Valdes shouted at two women who were sipping cocktails during a crowded singles mixer at American Whiskey, a bar in Midtown Manhattan. They were not, and Mr. Valdes let out a sigh of frustration. He was playing Chaotic Bingo, a game in which guests were given a sheet that listed 25 characteristics they had to find in someone else, including someone who’s had sex this month and someone you’d want to kiss later. First one to circle five across received one free year of Tinder platinum. Mr. Valdes, 34, a professor from Staten Island, said that he had met a few people already that he was interested in, including one “stand out,” but that it was early and he still wanted to mingle.

Persons: Coke, ” Jesus Valdes, Valdes, who’s, . Valdes Locations: Midtown Manhattan, Staten Island

☆ Here's what the Costco 'star of death' means for your favorite warehouse items
▼ + stars: | 2023-07-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Costco price tags convey a lot of information for employees and customers in the warehouse. Recently, an asterisk on Bud Light products led to rumors that Costco was giving the "star of death" treatment to Bud Light in the wake of a conservative boycott. But closer inspection of the signage showed that only 16-ounce cans of Bud Light and 12-ounce bottles of Bud Light Platinum were getting the star of death treatment. Costco did not respond to Insider's questions regarding the status of Bud Light in its stores. With that one little symbol, buyers can communicate with store managers across the country and help them plan ahead, the Texas manager said.

Persons: markdowns, Justin Sullivan, I've, Bud Light, Dominick Organizations: Service, Costco, Bud Locations: Texas, Wall, Silicon, Novato , California

☆ Opinion: Ryan Gosling’s ‘Kenergy’ is all I need
▼ + stars: | 2023-07-21 | by ( Opinion Holly Thomas | ) edition.cnn.com time to read: +6 min

Everything changed when Ryan Gosling, the twice-Oscar-nominated star of “Half Nelson,” “La La Land,” “The Notebook,” “Blade Runner 2049” and “Drive” was sent the script for Greta Gerwig’s “Barbie” movie. The film depicts Ken as pure superficiality, the acme beta man who exists only under the glow of Margot Robbie’s Barbie gaze. His platinum, almost white-bleached hair has lit up every interview, radiating the “Kenergy” he references like punctuation. Asked by one reporter how we might “find our Kenergy,” Gosling replied without missing a beat: “It’s there the whole time… Look no further. In becoming Ken, Gosling dashed one of Hollywood’s most tedious clichés, proving that it is possible to transform into a marshmallow-for-brains “himbo” without turning into an egomaniacal nightmare.

Persons: Holly Thomas, Katie Couric, CNN — Robert Pattinson, “, they’re, ” Holly Thomas Holly Thomas, Jared Leto’s, Viola Davis, ”, Daniel, Lewis, Oscar, Christy Brown, Ryan Gosling, Greta Gerwig’s “ Barbie, Ken, Margot Robbie’s Barbie, Gosling, Jimmy Fallon, “ Barbie, ” Gosling, ” Ryan Gosling, Margot Robbie, Barbie, Kenergy, husbanding, Hi, “ You’ll, Robbie, Gosling’s Barbie, —, that’s, it’s, Ken ”, It’s Barbie, “ Barbie ”, “ I’m Organizations: Katie Couric Media, CNN, acme, Warner Brothers Discovery, Warner Bros ., Alpha, Twitter Locations: London, La, Leicester, “

☆ Drug shortages’ effects on cancer research may be felt for years to come
▼ + stars: | 2023-07-20 | by ( Jen Christensen | ) edition.cnn.com time to read: +8 min

But these shortages aren’t just bad for current patients, experts say; their effects on cancer research may be felt for years to come. The National Cancer Institute, the federal government’s main agency for cancer research and training, told CNN that at least 174 of its own trials may be affected by the shortages. Cisplatin and other platinum-based drugs are prescribed for 10% to 20% of all cancer patients, according to the National Cancer Institute. Crucial work on hold“With drug shortages, trials have become almost like an impossible task. “These drug shortages come and go, and there’s no real rhyme or reason, and there seems to be no rhyme or reason in terms of which institutions have shortages.

Persons: Joe Biden, it’s, ’ ”, Shadia Jalal, Indiana University Melvin, Jalal, She’s, they’ve, ” Jalal, “, ”, haven’t, “ We’ve, Mark Fleury, Fleury, you’re, ” Fleury, Dmitry Walker, Merck, We’ve, ” Walker, there’s, Biden, Lawrence Feldman, ” Feldman, Feldman, Dr, Sanjay Gupta, ‘ Organizations: CNN, National Cancer Institute, American Society of Health, Cancer, Indiana University, Bren Simon Comprehensive Cancer Center, Hematology, Oncology, IU School of Medicine, Hoosier Cancer Research Network, Veterans Administration, American Cancer Society Cancer Action Network, American Cancer Society, WVU Medicine, US Food, Pharmacists, National Comprehensive Cancer Network, University of Illinois Medical Center, CNN Health Locations: United States, China, Chicago

☆ Gold near 9-week high on weaker dollar, hopes of Fed rate pause
▼ + stars: | 2023-07-20 | by ( ) www.cnbc.com time to read: +2 min

Gold prices climbed on Thursday to a near nine-week peak, amid a weaker dollar and bets that the U.S. Federal Reserve might soon pause its interest rate hiking cycle. Spot gold rose 0.4% to $1,984.29 per ounce by 0521 GMT, close to its highest since mid-May. Gold has been supported by the dollar weakening and inflation prints coming in lower, said Brian Lan of Singapore dealer GoldSilver Central. The dollar index was 0.2% lower, close to an over one-year low, making gold cheaper for holders of other currencies. Spot silver rose 0.2% to $25.21 per ounce, platinum was down 0.1% to $971.87 while palladium slipped 0.6% to $1,300.21.

Persons: Brian Lan, We've, Lan, Baden Moore Organizations: U.S . Federal, GoldSilver Central, Investors, National Australia Bank Locations: Brian Lan of Singapore, Asia

☆ Self-healing metal? It's not just the stuff of science fiction
▼ + stars: | 2023-07-19 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

Self-healing metal is still just science fiction, right? Metal fatigue can cause catastrophic failures in areas including aviation - jet engines, for instance - and infrastructure - bridges and other structures. It occurs at the nanoscale, and we have yet to be able to control the process," Boyce added. Scientists in the past have fashioned some self-healing materials, mostly plastics. Study co-author Michael Demkowicz, a Texas A&M University professor of materials science and engineering, predicted self-healing in metal a decade ago.

Persons: Ryan Schoell, Khalid Hattar, Dan Bufford, Chris Barr, Craig ., Read, Brad Boyce, Boyce, Michael Demkowicz, Demkowicz, Will Dunham, Rosalba O'Brien Organizations: government's Sandia National Laboratories, Sandia National Laboratories, M University, Thomson Locations: New Mexico, WASHINGTON, Texas

☆ Gold retreats on dollar uptick, traders bet on Fed pause
▼ + stars: | 2023-07-19 | by ( ) www.cnbc.com time to read: +2 min

On display at Agosi AG in Pforzheim is a gold bar that weighs 12.5 kilograms (400 ounces), has a fine gold content of 99.99 percent and lies on gold granules. Gold prices eased on Wednesday from a 1-1/2-month high touched in the previous session, dragged by a slightly stronger dollar, even as investors bet that recent U.S. economic readings make the case for a pause in the Federal Reserve's rate-hike stance. Spot gold fell 0.1% to $1,976.05 per ounce by 0350 GMT, after hitting its highest since May 24 at $1,984.19 on Tuesday. The dollar index edged higher from a more than one-year low hit on Tuesday, making gold more expensive for holders of other currencies. "Gold prices may have to reclaim the key psychological level of $2,000 to potentially provide more conviction for buyers," said Yeap.

Persons: Jun Rong, Wang Tao Organizations: Agosi AG, Reuters, Palladium Locations: Pforzheim, ., U.S, China

☆ Make your money work harder with the right rewards credit card
▼ + stars: | 2023-07-19 | by ( Sponsor Post | Created Insider Studios With Marriott Bonvoy | ) www.businessinsider.com time to read: +5 min

The Marriott Bonvoy® American Express® Card rewards spending and nights at hotels participating in Marriott Bonvoy. It pays to be a Marriott Bonvoy® MemberThe Marriott Bonvoy® American Express® Card rewards its members for their ongoing loyalty. For people who are on the move and want a credit card that moves with them, the Marriott Bonvoy® American Express® Card is the ace in the pack. Learn more about the Marriott Bonvoy® American Express® Card. This article was created by Insider Studios with the Marriott Bonvoy® American Express® Card.

Persons: you'll, you've, haven't, — that's, they're Organizations: Marriott, Elite, American Express, —, Marriott Bonvoy, Insider Studios Locations: Marriott Bonvoy

☆ India’s Surat Diamond Bourse: World’s new largest office building is bigger than the Pentagon
▼ + stars: | 2023-07-18 | by ( Oscar Holland | ) edition.cnn.com time to read: +6 min

The newly-opened Surat Diamond Bourse is billed as a “one-stop destination” for over 65,000 diamond professionals, including cutters, polishers and traders. The trading center’s architects say it comprises over 7.1 million square feet of floor space, which would mean it has surpassed the Pentagon as the world’s largest office building. According to the project’s CEO, Mahesh Gadhavi, Surat Diamond Bourse will save thousands of people from traveling — sometimes daily — to Mumbai by train to do business. The design was also informed by Morphogenesis’ research into how the Indian diamond trade operates. Edmund SumnerPlans for transformationAerial images of Surat Diamond Bourse show that the gargantuan building’s surroundings are, for now, remarkably low-rise.

Persons: Narendra Modi, Mahesh Gadhavi, Edmund Sumner “, ”, Gadhavi, Morphogenesis, Sonali Rastogi, Edmund Sumner, Rastogi, Modi, “ Organizations: CNN, Surat Diamond Bourse, Pentagon, Indian, Democratic, Building Council Locations: Belgian, Antwerp, Russia, Africa, Mumbai, India, Surat, Gujarat, Surat Diamond, —, New Delhi, ”

☆ Gold prices tick up as traders await Fed cues
▼ + stars: | 2023-07-18 | by ( ) www.cnbc.com time to read: +2 min

Gold bars of different sizes lie in a safe on a table at the precious metals dealer Pro Aurum. Spot gold rose 0.3% to $1,959.54 per ounce by 0359 GMT. While the upcoming Fed meeting might temporarily dim the appeal of gold, "the Fed is closer to end of tightening cycle," said OCBC Executive Director and FX Strategist Christopher Wong. "We also favor long gold as a risk-off hedge (safe haven proxy) against slowing global growth or any risk-off market event," Wong added. Investors will also watch for U.S. retail sales data for June later in the day while weak Chinese economic data released the previous day continued to weigh on sentiment.

Persons: Christopher Wong, Wong, Janet Yellen Organizations: Aurum, U.S, U.S . Federal, Bloomberg TV, European Central Bank, Bank of England, Reserve Bank of Australia's Locations: United States, U.S ., U.S

☆ Ford slashes prices of F-150 Lightning trucks as EV price war heats up
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

July 17 (Reuters) - Ford Motor (F.N) deepened a price war in the electric-vehicle industry on Monday by slashing the prices of its F-150 Lightning trucks, including a 17% cut for the base model, as it aims to boost its share of an EV market dominated by Tesla (TSLA.O). The Detroit automaker, which had raised Lightning prices earlier this year, said it was able to cut prices on improvements in scale and battery raw material costs. The move comes amid a price war started by Tesla a few months ago, which has seen the EVs of legacy automakers piling up at dealers as sales slow. Ford also said it has temporarily closed its Rouge Electric Vehicle Center in Michigan to complete final plant upgrades as it aims to triple the facility's annual run rate to 150,000 Lightning trucks, beginning this fall. Battery raw material prices have been one of the factors that pushed up EV prices.

Persons: Tesla, Marin Gjaja, We've, Ford, Nathan Gomes, Shivansh, Pooja Desai Organizations: Ford, Tesla, General, Rivian, Detroit, Reuters Graphics, Electric Vehicle Center, EV, Thomson Locations: Austin, Michigan, Bengaluru

☆ Gold edges lower on slight dollar uptick
▼ + stars: | 2023-07-17 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged lower on Monday as the dollar inched up, although investors largely bet on the U.S. Federal Reserve hitting the brakes soon on interest rate hikes. Spot gold fell 0.1% to $1,952.74 per ounce by 0307 GMT, around $11 lower from the three-month high hit on Friday. "Whilst inflation remains high, markets are responding to the relative change over the absolute level of interest rates going forward. And if peak cycles are close, it is another supportive feature for gold, alongside central bank buying," Simpson added. Lower interest rates decrease the opportunity cost of holding non-yielding bullion.

Persons: Matt Simpson, Simpson, Talim Organizations: Agosi AG, U.S . Federal Reserve, Index, Fed, European Central Bank, Hong, Japan's Nikkei Locations: Pforzheim, U.S, Europe, Hong Kong

☆ Ford’s electric F-150 Lightning just got much cheaper
▼ + stars: | 2023-07-17 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

CNN —Ford announced on Monday that it is slashing prices significantly for its electric F-150 Lightning pickup truck. Since the F-150 Lightning’s release in mid-2021, the auto manufacturer has raised prices several times, citing in part “significant material cost increases” for key electric vehicle battery components like lithium, cobalt, and nickel. The Platinum Extended Range, its most expensive model, is down more than $6,000 to about $92,000. These models are also eligible for a tax credit of up to $7,500 under the 2022 Inflation Reduction Act, according to Ford. Customers can expect these cheaper cars to become available as early as October.

Persons: CNN — Ford, Kelley, Ford, “ We’ve, ”, Marin Gjaja Organizations: CNN, Kelley Blue, Ford Locations: Michigan

☆ Ford cuts F-150 Lightning prices by up to $10,000 just days after Tesla's first Cybertruck rolled off the line
▼ + stars: | 2023-07-17 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Days later, Ford announced price cuts to its F-150 Lightning electric pickup by up to $10,000. Both signal that the world of electric pickup trucks is heating up. Ford said Monday morning it would slash the prices of its F-150 Lightning electric pickup trucks by up to nearly $10,000 just days after Tesla's rival Cybertruck finally rolled off the assembly line. The cheapest electric F-150 dropped nearly $10,000, from $59,974 to $49,995, while the most expensive trim option fell about $6,000, from $98,074 to $91,995. Ford raised Lightning prices several times over the past year.

Persons: Tesla's, Ford, Cybertruck, Tesla, GM's, Stellantis, Ram Organizations: Ford, Morning, EV, GM's Chevrolet

☆ Ford slashes prices of F-150 Lightning trucks, base variant to cost 17% less
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: 1 min

July 17 (Reuters) - Ford Motor (F.N) on Monday slashed the prices of its popular electric F-150 Lightning trucks, with the base variant now starting at about 16.6% less, amid an electric vehicle (EV) price war started by market leader Tesla (TSLA.O). The move also comes as some legacy automakers struggle with slowing EV sales, as Tesla's move to cut prices led to an accumulation of rival EVs at dealers. Ford, which has been pushing to shift to more EV models, said on Monday it had lowered the prices for all variants of the Lightning model. Ford's base Pro variant will now cost customers $49,995, compared to its prior price of $59,974, while the higher end Platinum model will cost about 6.2% less, at $91,995. Reporting by Nathan Gomes in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, EVs, Nathan Gomes, Pooja Desai Organizations: Ford, Thomson Locations: Bengaluru

☆ Ford cuts prices on its electric F-150 Lightning pickups by as much as $10,000
▼ + stars: | 2023-07-17 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +1 min

Ford Motor on Monday cut prices for its electric F-150 Lightning pickup, saying its efforts to boost production and lower costs for battery minerals have paid off. Ford said prices for some of the least expensive versions of the Lighting would fall by nearly $10,000. Prices for all versions, including the top-line Platinum trim, will drop by at least $6,000 from levels set in March. The Dearborn, Michigan factory that makes the Lightning will be closed for several weeks while the production upgrades are put in place, Ford said Monday. Increasing production of the Lightning and other Ford EVs has been a key priority for CEO Jim Farley this year.

Persons: Ford, Ford EVs, Jim Farley Organizations: Ford Locations: Dearborn , Michigan, U.S

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