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☆ GM's Cruise to recall 950 driverless cars after accident involving pedestrian
▼ + stars: | 2023-11-08 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

A self-driving GM Bolt EV is seen during a media event where Cruise, GM's autonomous car unit, showed off its self-driving cars in San Francisco, California, U.S. November 28, 2017. REUTERS/Elijah Nouvelage/File Photo Acquire Licensing RightsNov 8 (Reuters) - Cruise is recalling 950 driverless cars from the roads across the United States and may withdraw more following an accident involving one of its robotaxis, General Motors' (GM.N) self-driving unit and the U.S. auto regulator said on Wednesday. All affected driverless vehicles will also be repaired before returning to service, it said. "Today we have issued a voluntary recall of part of our AV software based on a new analysis of our AV's post-collision response on October 2nd," Cruise said. Late last month, Cruise said it would suspend all operations nationwide after the California Department of Motor Vehicles ordered the robotaxi operator to remove its driverless cars from state roads.

Persons: Elijah Nouvelage, Cruise, Abinaya Vijayaraghavan, Chandni Shah, Anil D'Silva Organizations: GM Bolt, REUTERS, General Motors, U.S, Traffic Safety Administration, NHTSA, Reuters, California Department of Motor Vehicles, Thomson Locations: San Francisco , California, U.S, United States, San Francisco, crosswalks ., Phoenix , Arizona, Houston, Austin, Dallas, Texas, Miami , Florida, Bengaluru

☆ Cruise reportedly knew its robotaxis struggled to detect children and large holes but kept operating anyway
▼ + stars: | 2023-11-07 | by ( Kylie Kirschner | Tom Carter | ) www.businessinsider.com time to read: +4 min

Cruise's driverless cars have reportedly had issues detecting children and large holes on roads. California revoked Cruise's robotaxi permits, and its service in the US has since been suspended. According to internal materials reviewed by The Intercept, Cruise knew about certain safety issues while its fleet of robotaxis was in operation. Cruise has maintained that its driverless vehicles are safe. We have the lowest risk tolerance for incidents with children and treat them with the highest safety priority," Cruise told Insider.

Persons: —, Cruise Organizations: Intercept, Cruise's, Service, The Intercept, Cruise, California Department of Motor Vehicles, Forbes Locations: California, San Francisco, robotaxis

MINNEAPOLIS (AP) — The American Civil Liberties Union of South Dakota announced Monday that it is suing South Dakota over a state law that restricts content on vanity plates. Hart intended for the personalized license plate to refer to his business and its mission of promoting tribal sovereignty, the news release said. According to the complaint filed Friday, the state Department of Revenue denied Hart's application in 2022. Political Cartoons View All 1234 ImagesThe department used its authority to recall at least three personalized plates in 2022, the lawsuit says. It names both the state's Department of Revenue and the state's Motor Vehicle Division.

Persons: Lyndon Hart, REZWEED ”, ” Hart, Hart, Kendra Baucom, “ GAYPRIDE, ”, Georgia —, ___ Trisha Ahmed, @TrishaAhmed15 Organizations: American Civil Liberties Union of South Dakota, ACLU, South Dakota Motor Vehicle Division, of Revenue, state's Department of Revenue, Vehicle Division, Motor, U.S, 8th Circuit U.S, Appeals, state's, Motor Vehicles, Associated Press, America Statehouse News Initiative, America Locations: MINNEAPOLIS, South Dakota, U.S ., North Carolina, Delaware , Oklahoma, Georgia

☆ Cruise confirms robotaxis rely on human assistance every four to five miles
▼ + stars: | 2023-11-06 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

This Cruise in San Francisco seemingly could not figure out how to pull aside on a narrow street to let a buss pass. First, Vogt confirmed that the General Motors -owned company does have a remote assistance team, in response to a discussion under the header, "GM's Cruise alleged to rely on human operators to achieve 'autonomous' driving." The CEO wrote, "Cruise AVs are being remotely assisted (RA) 2-4% of the time on average, in complex urban environments. CNBC confirmed with Cruise spokesperson Tiffany Testo that the comments were accurate and came from the company's CEO. Cruise recently took the drastic move of grounding all of its driverless operations following a collision that injured a pedestrian in San Francisco on October 2.

Persons: buss, Kyle Vogt, aren't, Vogt, GM's Cruise, Tiffany Testo, Cruise Organizations: Cruise, Hacker, General Motors, CNBC, DMV, NBC, California Department of Motor Vehicles, Google Locations: San Francisco, California

☆ PayPal raises full-year profit forecast above Wall Street estimates
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 1 (Reuters) - PayPal Holdings (PYPL.O) raised its forecast for full-year adjusted profit above Wall Street estimates on Wednesday, as the payments giant banks on resilient consumer spending trends during the key holiday shopping season. The company said it expects adjusted profit for the full-year to be about $4.98 per share from $4.95 earlier. PayPal cut its annual forecast of adjusted operating margin expansion to 75 basis points from 100 basis points expected earlier. Total payments volume increased 13% on FX-neutral basis to $387.7 billion in the third quarter, beating Street expectations of $377.9 billion. The firm earned $1.30 per share on an adjusted basis in the third-quarter, beating Wall Street expectations of $1.23 per share.

Persons: Dado Ruvic, Jamie Miller, Manya Saini, Krishna Chandra Organizations: PayPal, REUTERS, PayPal Holdings, Wall, Adobe Analytics, Apple, FX, U.S . Commerce Department, Thomson Locations: U.S, Bengaluru

☆ Aurora opens first commercial route for driverless trucks
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Tina Bellon/File Photo Acquire Licensing RightsNov 1 (Reuters) - Aurora Innovation (AUR.O) on Wednesday opened its first lane for driverless trucks connecting Dallas and Houston, supported by its commercial trucking terminal in Houston, ahead of a launch in 2024. "Bringing our commercial-ready terminals and services online a year ahead of our planned commercial driverless launch between Dallas and Houston enables us to focus next year on integrating our driver-ready trucks into our customers' operations," said Chief Product Officer Sterling Anderson. Aurora said it would operate its terminals day and night, which will support more than 75 commercial loads for pilot customers. Aurora's portfolio of products includes Aurora Driver, its self-driving technology that can be employed across vehicle types, and driverless trucking subscription service Aurora Horizon. Aurora has partnerships with Uber Technologies (UBER.N), Toyota (7203.T), Volvo (VOLVb.ST), and PACCAR (PCAR.O), among others.

Persons: Tina Bellon, Sterling Anderson, Aurora, Zaheer Kachwala, Varun Organizations: REUTERS, Aurora, Wednesday, Dallas, Command, General Motors, California Department of Motor Vehicles, Uber Technologies, Toyota, Volvo, Thomson Locations: Palmer, Dallas , Texas, U.S, Dallas, Houston, Bengaluru

☆ Dollar holds near 150 yen as c.bank policy, data deluge awaited
▼ + stars: | 2023-10-30 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration shot January 21, 2016. A PMI data deluge, inflation figures in the euro zone and U.S. nonfarm payrolls also add to the mix of the event-packed week. "I think for the FOMC and the Bank of England, they will be pretty low key with them leaving interest rates on hold. The BOJ meeting will be the most interesting one (given) heightened speculation over a policy tweak at this meeting." The yen was last 0.1% lower at 149.75 per dollar, getting a slight reprieve after having struck a one-year trough of 150.78 per dollar last week.

Persons: Jason Lee, nonfarm payrolls, Carol Kong, Israel, Chris Weston, Christian Scherrmann, Rae Wee, Muralikumar Organizations: Hong, REUTERS, Rights, Bank of, U.S . Federal Reserve, Bank of England, Commonwealth Bank of Australia, New Zealand, Aussie, Fed, Thomson Locations: Hong Kong, Rights SINGAPORE, Bank of Japan, Gaza's, Palestinian, U.S

☆ Dollar holds near 150 yen as central bank policy, data deluge awaited
▼ + stars: | 2023-10-30 | by ( ) www.cnbc.com time to read: +3 min

A Chinese bank employee counts 100-yuan notes and U.S. dollar bills at a bank counter in Nantong in China's eastern Jiangsu province on August 6, 2019. The dollar inched broadly higher in cautious trade on Monday and held near 150 yen as traders looked to a policy decision by the Bank of Japan later in the week, alongside other major central bank meetings and a slew of economic data releases globally. A PMI data deluge, inflation figures in the euro zone and U.S. nonfarm payrolls also add to the mix of the event-packed week. "I think for the FOMC and the Bank of England, they will be pretty low key with them leaving interest rates on hold. The yen was last 0.1% lower at 149.75 per dollar, getting a slight reprieve after having struck a one-year trough of 150.78 per dollar last week.

Persons: nonfarm payrolls, Carol Kong, Israel, Chris Weston, Christian Scherrmann Organizations: Bank of, U.S . Federal Reserve, Bank of England, Commonwealth Bank of Australia, New Zealand, Aussie, Fed Locations: Nantong, China's, Jiangsu, Bank of Japan, Gaza's, Palestinian, U.S

☆ US probes GM's Cruise robocars over pedestrian close calls
▼ + stars: | 2023-10-27 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +4 min

NHTSA previously made public another Oct. 20 letter in which it raised concerns over several hard-braking incidents by Cruise vehicles that resulted in collisions. Safety officials cited two videos where Cruise vehicles came close to pedestrians in crosswalks and appeared to nearly strike them. Cruise had been operating an Uber-like service with unmanned vehicles, primarily in San Francisco, but the company halted that service this week. As of Friday, Waymo vehicles continued driverless passenger operations in San Francisco, its main hub. Reporting by Greg Bensinger in San Francisco Additional reporting by David Shepardson in Washington Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Heather Somerville, Cruise, Greg Bensinger, David Shepardson, Matthew Lewis Organizations: General Motors Corp, REUTERS, FRANCISCO, General Motors, National, Traffic Safety Administration, NHTSA, Cruise, California Department of Motor Vehicles, Teamsters, Thomson Locations: San Francisco, California, U.S, crosswalks, Arizona, Texas, Washington

☆ US consumer spending exits third quarter on strong note; monthly core inflation rises
▼ + stars: | 2023-10-27 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Excluding the volatile food and energy components, the PCE price index rose 0.3%, after edging up 0.1% in August. The so-called core PCE price index rose 3.7% on a year-on-year basis in September, the smallest gain since May 2021, after increasing 3.8% in August. Stripping out housing, the core PCE price index rose by a mild 0.2%. The super core PCE price index advanced 4.3% year-on-year in September. Policymakers are watching the super core PCE price index to try and gauge their progress in combating inflation.

Persons: Bing Guan, Sal Guatieri, James Knightley, Chris Low, Pooja Sriram, Lucia Mutikani, Chizu Organizations: REUTERS, Commerce Department, Federal, BMO Capital Markets, Commerce Department's, Economic, Reuters, Consumer, ING, FHN, Treasury, Fed, Barclays, Thomson Locations: SoHo, New York City, U.S, WASHINGTON, Toronto, New York

NEW YORK (AP) — Cruise, the autonomous vehicle unit owned by General Motors, is suspending driverless operations nationwide days after regulators in California found that its driverless cars posed a danger to public safety. The choice to suspend its driverless services isn't related to any new on-road incidents, Cruise added. The pedestrian became pinned under a tire of the Cruise vehicle after it came to a stop. Three rear-end collisions that reportedly took place after Cruise AVs braked hard kicked off the investigation. “We welcome NHTSA’s questions related to our safety record and operations," Cruise spokesperson Hannah Lindow said in a statement sent to The Associated Press Friday.

Persons: — Cruise, Cruise, ” Cruise, Cruise’s robotaxis, robotaxi, Cruise's, Cruise AVs, Hannah Lindow Organizations: General Motors, California Department of Motor Vehicles, Cruise, General Motors Co, Detroit, California Department of Motor, Traffic Safety Administration, Associated Locations: California, San Francisco, Cruise, Los Angeles, Phoenix, Austin

☆ US auto safety agency investigating two new GM Cruise crash reports
▼ + stars: | 2023-10-26 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company’s headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. REUTERS/Heather Somerville/File photo Acquire Licensing RightsWASHINGTON, Oct 26 (Reuters) - U.S. auto safety officials said on Thursday they are investigating two additional reports of General Motors (GM.N) Cruise self-driving cars engaging in inappropriately hard braking that resulted in collisions. The National Highway Traffic Safety Administration (NHTSA) said in December it had opened a formal safety probe into the GM robotaxi unit Cruise after reports of three crashes in which Cruise vehicles were struck from behind by other vehicles after the autonomous vehicles braked quickly, resulting in two injuries. "Inappropriately hard braking results in the Cruise vehicles becoming unexpected roadway obstacles and may result in a collision with a Cruise vehicle," NHTSA said in its letter. The DMV in August had directed Cruise to remove half of its driverless vehicles after another crash.

Persons: Heather Somerville, Cruise, David Shepardson, Rod Nickel Organizations: General Motors Corp, REUTERS, Rights, General Motors, Traffic Safety Administration, GM, NHTSA, Cruise, California's Department of Motor Vehicles, Thomson Locations: San Francisco, California, U.S

Cruise, the autonomous vehicle startup owned by General Motors, has paused all of its driverless operations after collisions led to investigations, a disagreement with state regulators, and a suspension of its licenses in California earlier this week. The autonomous vehicle maker, founded by CEO Kyle Vogt in 2013, had previously initiated driverless operations in San Francisco, Austin, Phoenix, Houston, Dallas and Miami. According to DMV records obtained by CNBC, the Cruise autonomous vehicle came to a complete stop and "subsequently attempted to perform a pullover maneuver while the pedestrian was underneath the vehicle." The move comes two days after GM CEO Mary Barra said several times that the automaker believes Cruise vehicles are safer than human drivers. Cruise will keep running its autonomous vehicles with human safety drivers behind the wheel, supervising the drives, the company also said on Thursday.

Persons: Cruise, Kyle Vogt, Mary Barra, Barra Organizations: General Motors, GM, California Department of Motor Vehicles, DMV, The, The California Public Utilities, CNBC, Cruise, Barra, Honda Locations: California, San Francisco, Austin, Phoenix, Houston, Dallas, Miami, The California

☆ Here's what reportedly led to Cruise robotaxis getting banned in San Francisco
▼ + stars: | 2023-10-25 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

Officials have banned Cruise robotaxis in San Francisco, warning they are a risk to public safety. Cruise was banned from operating its robotaxi service in San Francisco on Tuesday, with regulators warning that the controversial autonomous car company's vehicles posed "an unreasonable risk to public safety" following a series of accidents. "I can confirm that Cruise showed the full video to the DMV on October 3rd, and played it multiple times," they said. Cruise has been a controversial presence in San Francisco ever since it received approval to run its robotaxi service 24/7 in the city in August. AdvertisementAdvertisementFollowing the suspension of its driverless permits, Cruise announced that it would pause its driverless car services in San Francisco entirely.

Persons: Cruise, —, didn't Organizations: Service, California Department of Motor Vehicles, DMV, Cruise, CA, NHTSA Locations: San Francisco, California

☆ Arizona says closely monitoring use of self-driving vehicles
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A self-driving GM Bolt EV is seen during a media event where Cruise, GM's autonomous car unit, showed off its self-driving cars in San Francisco, California, U.S. November 28, 2017. REUTERS/Elijah Nouvelage/File Photo Acquire Licensing RightsOct 25 (Reuters) - Arizona is closely monitoring the testing and use of self-driving vehicles in the state, its transportation department said on Wednesday, a day after California barred General Motors' (GM.N) Cruise from operating its driverless cars. The Arizona Department of Transportation said it was aware of the announcement from California and was closely monitoring the situation. "Public safety is our highest priority, and we are in regular communication with and closely monitoring Cruise and other companies testing and operating self-driving vehicles in Arizona," it said in a statement. Companies such as Cruise, Alphabet's (GOOGL.O) Waymo and Uber are testing their self-driving car technology in these states and cities.

Persons: Elijah Nouvelage, Hugo Soto, Martínez, Cruise, Waymo, Akash Sriram, Juby Babu, Hyunjoo Jin, Lisa Baertlein, Shailesh Kuber, Anil D'Silva Organizations: GM Bolt, REUTERS, General Motors, The Arizona Department of Transportation, California's Department of Motor Vehicles, Department of Motor Vehicles, Thomson Locations: San Francisco , California, U.S, Arizona, California, Los Angeles, Texas , Tennessee, Pennsylvania, Florida, Nevada, Dallas, Nashville, Bengaluru, Hyunjoo, San Francisco

☆ Cruise’s Driverless-Car Permits Suspended in California by DMV
▼ + stars: | 2023-10-24 | by ( Ryan Felton | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

Cruise has faced problems in one of its biggest markets, San Francisco, as its cars stalled and were involved in incidents. Photo: Poppy Lynch for The Wall Street JournalThe California Department of Motor Vehicles suspended Cruise’s autonomous-driving permit Tuesday, effectively halting its robot-taxi service in San Francisco. The DMV said that Cruise’s vehicles aren’t safe for public operation and the company has misrepresented information related to the safety of the technology of the vehicles. Cruise is majority-controlled by General Motors, which has invested deeply in the division and is looking to introduce a fully autonomous shuttle, called the Origin, that doesn’t have a steering wheel or manual controls.

Persons: Cruise, Poppy Lynch Organizations: The Wall Street, California Department of Motor Vehicles, DMV, General Motors Locations: San Francisco

☆ California officials revoke Cruise's permits to test driverless vehicles
▼ + stars: | 2023-10-24 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

The California Department of Motor Vehicles revoked Cruise’s permits to test and operate fully driverless vehicles on California roads, the agency said in a statement Tuesday. About three weeks ago, a Cruise vehicle hit a pedestrian in downtown San Francisco who had first been hit by another vehicle then and was propelled by this collision into the path of the Cruise driverless car. This was the incident that ultimately precipitated the DMV to revoke the permits, according to an emailed statement from Cruise. Regulators at the National Highway Traffic Safety Administration opened an investigation into the safety of Cruise autonomous vehicles around pedestrians. This summer, Cruise and Waymo, the driverless car arm of Google-parent Alphabet received permission from San Francisco regulators to begin regular paid driverless taxi services in that city.

Persons: CNN — Cruise, Cruise, ” Cruise Organizations: CNN, Motors, The California Department of Motor Vehicles, Department, California DMV, San Francisco Fire Department, Cruise, Regulators, Traffic Safety Administration, DMV, Google Locations: California, San Francisco, Cruise, Phoenix , Arizona, Austin , Texas

☆ California suspends GM Cruise self-driving vehicles as 'not safe' for public
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +4 min

Cruise's AVs posed an "an unreasonable risk to public safety," and "are not safe for the public's operation" California's Department of Motor Vehicles (DMV) said in a statement. The suspension, which came after a series of accidents involving Cruise vehicles, is a major setback to GM's self-driving technology unit and to the nascent autonomous vehicle (AV) industry. That month, a Cruise robotaxi was involved in a crash with an emergency vehicle in San Francisco. Barra said the Cruise robotaxis have better safety records than human drivers. This month, U.S. auto safety regulators opened a probe into whether Cruise was taking sufficient precautions with its autonomous robotaxis to safeguard pedestrians.

Persons: Cruise, Elijah Nouvelage, Cruise's AVs, Mary Barra, robotaxi, Barra, Hyunjoo Jin, David Gregorio Our Organizations: REUTERS, Motors, California's Department of Motor Vehicles, Cruise, GM, DMV, California Department of Motor Vehicles, Traffic Safety Administration, UAW, Detroit Three, Thomson Locations: San Francisco , California, U.S, San Francisco, New York, Texas

☆ California DMV suspends Cruise's self-driving car permits, effective immediately
▼ + stars: | 2023-10-24 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

"When there is an unreasonable risk to public safety, the DMV can immediately suspend or revoke permits," the California DMV said in a statement. The California Department of Motor Vehicles on Tuesday suspended Cruise's deployment and testing permits for its autonomous vehicles, effective immediately. A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company's headquarters in San Francisco. "We learned today at 10:30 am PT of the California DMV's suspension of our driverless permits," Cruise spokesperson Hannah Lindow told CNBC in a statement. The probe, spearheaded by the National Highway Traffic Safety Administration, was prompted by multiple reports involving pedestrian injuries and Cruise vehicles in recent months, and it concerns an estimated 594 self-driving Cruise vehicles, according to the filing.

Persons: Hannah Lindow, Cruise, Philip Koopman, that's, Koopman, Kyle Vogt, — CNBC's Lora Kolodny Organizations: DMV, California DMV, Cruise, General Motors, The California Department of Motor Vehicles, General Motors Corp, CNBC, National, Traffic Safety Administration, Carnegie Mellon University, California's Public Utilities Commission, Google, LinkedIn Locations: California, San Francisco, U.S

SAN FRANCISCO (AP) — California regulators have revoked the license of a robotaxi service owned by General Motors after determining its driverless cars that recently began transporting passengers throughout San Francisco are a dangerous menace. Political Cartoons View All 1215 ImagesIn a statement, Cruise confirmed it has ceased its robotaxi operations in San Francisco. Waymo, which began as as secret project within Google more than a decade ago, has been running another robotaxi service in Phoenix for the past three years. Cruise also is testing a robotaxi service in Los Angeles, where protests against it already have been percolating, as well as Phoenix and Austin, Texas. The DMV initially asked Cruise to cut its driverless fleet in San Francisco in half, a request accepted by the company.

Persons: San Francisco —, Cruise's robotaxis, robotaxi, Cruise, Panini, ”, Waymo, haven't, Mary Barra, ” Barra Organizations: FRANCISCO, —, General Motors, California Department of Motor Vehicles, Public Utilities Commission, Google, GM, Cruise, Detroit, DMV Locations: — California, San Francisco, U.S, Waymo, Phoenix, California, Los Angeles, Austin , Texas

☆ California revokes Cruise's robo-taxi permit, calling them 'an unreasonable risk to public safety'
▼ + stars: | 2023-10-24 | by ( Associated Press | ) www.businessinsider.com time to read: +3 min

California has revoked the license of Cruise, an autonomous robo-taxi service owned by General Motors. California regulators have revoked the license of a robotaxi service owned by General Motors after determining its driverless cars that recently began transporting passengers throughout San Francisco are a dangerous menace. In a statement, Cruise confirmed it has ceased its robotaxi operations in San Francisco. AdvertisementAdvertisementWhile Cruise has been sidelined in San Francisco, another robotaxi operated by Waymo is continuing to give rides throughout the city. Waymo, which began as as secret project within Google more than a decade ago, has been running another robotaxi service in Phoenix for the past three years.

Persons: —, San Francisco —, Cruise's robotaxis, robotaxi, Cruise, Panini, Waymo Organizations: General Motors, Service, California Department of Motor Vehicles, Public Utilities Commission, Google Locations: California, San Francisco, U.S, Waymo, Phoenix

☆ Dollar mixed after earlier bounce on strong US retail sales
▼ + stars: | 2023-10-17 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

Retail sales rose 0.7% last month as households boosted purchases of motor vehicles and spent more at restaurants and bars. Despite the positive sales, Jeffrey Roach, chief economist for LPL Financial, noted that there are some headwinds affecting U.S. consumers. "Investors need to look underneath the sales figures to get a better look on the health of the consumer. Rising use of credit and early signs of delinquencies could dampen some of the enthusiasm," he said in a note. Fed funds futures traders are pricing in a 43% chance of an additional interest rate hike this year, but only 12% odds of a rate increase next month, according to the CME Group's FedWatch Tool.

Persons: Dado Ruvic, ”, Marc Chandler, Jeffrey Roach, Jerome Powell, Thomas Barkin, Sterling, Karen Brettell, Samuel Indyk, Emelia Sithole, Jonathan Oatis Organizations: REUTERS, Federal Reserve, Bannockburn Global Forex, LPL Financial, Fed, Richmond Fed, Traders, Bank of Japan, U.S, New Zealand, Thomson Locations: U.S, Bannockburn

☆ US retail sales beat expectations in September; core retail sales rise solidly
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

Retail sales rose 0.7% last month, the Commerce Department said on Tuesday. Retail sales are mostly goods and are not adjusted for inflation. Excluding automobiles, gasoline, building materials and food services, retail sales rose 0.6% in September. Data for August was revised up to show these so-called core retail sales gaining 0.2% instead of 0.1% as previously reported. Core retail sales correspond most closely with the consumer spending component of GDP.

Persons: Eduardo Munoz, Lucia Mutikani, Chizu Organizations: REUTERS, Rights, Commerce Department, Reuters, Federal, Gross, Thomson Locations: New York City, U.S

[1/2] A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company’s headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. NHTSA's preliminary evaluation covers about 594 vehicles and is the first step before the agency seek to force a recall. In December, NHTSA opened a separate safety probe into the autonomous driving system in Cruise vehicles after reports of two injuries in rear-end crashes. NHTSA said Cruise vehicles "may engage in inappropriately hard braking or become immobilized." The DMV in August said it was investigating "recent concerning incidents" involving Cruise vehicles in San Francisco and asked the company to take half its robotaxis off the roads, a request Cruise complied with.

Persons: Heather Somerville, Mary Barra, Cruise, robotaxi, David Shepardsin, Nick Carey, Abinaya, Nivedita Bhattacharjee, Jan Harvey, Nick Zieminski Organizations: General Motors Corp, REUTERS, Rights, General Motors, Traffic Safety Administration, NHTSA, GM, Cruise, California Department of Motor Vehicles, California Public Utilities Commission, Thomson Locations: San Francisco, California, U.S, Cruise, Washington, London, Bengaluru

☆ Strong retail sales, factory output point to robust US growth in third quarter
▼ + stars: | 2023-10-17 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsSummaryCompanies Retail sales increase 0.7% in SeptemberCore retail sales rise 0.6%; August sales revised upManufacturing production increases 0.4%WASHINGTON, Oct 17 (Reuters) - U.S. retail sales increased more than expected in September as households stepped up purchases of motor vehicles and spent more at restaurants and bars, cementing expectations that economic growth accelerated sharply in the third quarter. Retail sales rose 0.7% last month. Economists defended their forecast for tepid retail sales growth, which they said was based on softening consumer confidence. Excluding automobiles, gasoline, building materials and food services, retail sales rose 0.6% in September. Data for August was revised up to show these so-called core retail sales gaining 0.2% instead of 0.1% as previously reported.

Persons: Eduardo Munoz, Goldman Sachs, Christopher Rupkey, James Knightley, Jay Hawkins, Veronica Clark, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: REUTERS, Federal Reserve, Fed, Reuters, Commerce Department's, ING, BMO Capital Markets, Treasury, Financial, Amazon, Commerce Department, Citigroup, Thomson Locations: New York City, U.S, WASHINGTON, New York, Toronto

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