DIRS.INFO The most relevant business & tech news

☆ Ford CEO Jim Farley's frustration builds as he vows to transform the automaker
▼ + stars: | 2023-02-03 | by ( Phil Lebeau | ) www.cnbc.com time to read: +4 min

In this article F Follow your favorite stocks CREATE FREE ACCOUNTwatch nowFord CEO Jim Farley is frustrated. In short, Farley wants Ford to become a far more efficient company, and he needs it to happen quickly. Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022, at the automaker's Ford Rouge Electric Vehicle Center. Farley said the answer is not simply cutting jobs, which has historically been the way automakers have cut costs. Will this new push to cut costs hurt Ford's growth in production and sales of electric vehicles?

☆ Ford and General Motors enter a new phase of uncertainty on prices and demand
▼ + stars: | 2023-01-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

At least, General Motors and Ford Motor likely will be doing that this week as they report fourth-quarter results and 2023 guidance, with Wall Street watching for signs of weakening consumer demand and a tougher pricing landscape. Either issue would mean lower profits this year for the automakers, which are expected to report relatively solid fourth-quarter results over subdued year-ago earnings. Automakers have reported record results in recent years amid the tight supply of new vehicles and resilient consumer demand. Ford on Monday cut the starting prices on its electric Mustang Mach-E, weeks after EV industry leader Tesla slashed its own prices. GM is scheduled to report its results Tuesday before markets open, followed by Ford after the bell Thursday.

[1/4] Ford Mustang Mach-E GT is seen during the Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. The move comes as electric vehicle manufacturers are feeling pressure from Tesla's price cut to respond. "Ford just cut Mustang EV prices in response to Tesla’s price cut. "Tesla’s price cut was a major blow to the prospects of competing EV models and the Mustang Mach-E directly competes with Tesla’s Model Y," said Garrett Nelson, an analyst at CFRA Research. Ford said existing Mustang Mach-E customers awaiting delivery of vehicles will automatically receive the price cut.

☆ Ford hits back at Tesla's price cuts by lopping nearly $6,000 off the Mustang Mach-E
▼ + stars: | 2023-01-30 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

The price reductions for the Mustang Mach-E vary by trim level and performance package. At the highest end, the Mach-E GT with extended range now goes for $63,995, a $5,900 reduction from the previous price. Elon Musk's long-term play on the price cuts, which Deutsche Bank estimates could cost the company $7 billion in profits this year, could protect its customer base amid rising competition and increase its market share. Gjaja would not say how the price cuts impact Mach-E's profitability, only saying it would vary by trim level. Ford CEO Jim Farley has publicly set his sights on Tesla, vowing last spring to unseat Musk's car company as the top seller of electric vehicles.

☆ Ford’s EV price cuts could pressure profitability, a headwind the automaker needs to address
▼ + stars: | 2023-01-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Ford Motor (F) confirmed Monday what Jim Cramer has been speculating for weeks: Price cuts on its electric vehicles following similar moves by Tesla (TSLA). Depending on the models, Ford's price reduction "hurts our decision to own Ford," Jim said Monday after the automaker said the move will make some Mach-E trims unprofitable. Last year, Ford announced a split of its EV and internal combustion engine units into separate businesses — called Ford Model e and Ford Blue, respectively — aiming to increase efficiencies unique to each and maximize profits. F 1Y mountain Ford (F) 1 year performance The Club's take With investors concerned about margin pressure due to the price cuts, we'll be looking for messaging on Ford's next steps to address the problem. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Ford boosts production of Mach-E and drops prices to compete with Tesla
▼ + stars: | 2023-01-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Ford is boosting production of its popular Mustang Mach-E electric SUV and dropping its sticker price weeks after Tesla dropped prices of its vehicles. it has since been joined in the electric Ford lineup by the workhorse Ford F-150 Lightning. Tesla announced price cuts of as much as 20% on its electric vehicles earlier this month, after raising prices in 2022. Ford announced last summer that it was increasing production of the Mach-E as it added capacity for more battery production. Customers who complete the transaction for their Mach-E after today’s announcement will pay the new lower price, Ford said.

☆ Why Auto Marketing Looks Poised for Growth in 2023
▼ + stars: | 2023-01-27 | by ( Megan Graham | ) www.wsj.com time to read: +5 min

A year like that might typically drive auto marketing off a cliff. “We haven’t taken our foot off the accelerator, because we do see the transformation of EVs occurring,” Mr. Wager said. “You don’t put a vehicle in the Super Bowl to sell 20,000 vehicles—that doesn’t make any sense,” Mr. Wager said. “You wouldn’t put it on television normally, unless you’re creating the halo of the electrification of the brand,” Mr. Wager said. Kia will be at the Super Bowl again this year, this time advertising its Telluride SUV.

Companies Goodyear Tire & Rubber Co FollowJan 25 (Reuters) - The U.S. Justice Department is investigating Goodyear Tire & Rubber Co (GT.O) for its handling of a recalled tire that has been linked to eight deaths and dozens of injuries, the Wall Street Journal reported, citing people with knowledge of the matter and documents reviewed by the newspaper. "We cooperated fully with the National Highway Traffic Safety Administration's (NHTSA) review of the G159 275/70R22.5 tire, which concluded in June, 2022," the company said in an emailed statement to Reuters. In June last year, Goodyear said it would recall 173,000 G159 tires used on recreational vehicles because of the potential of catastrophic tread separations. However, the company said in October that it did not believe its tires were defective. Reporting by Aishwarya Nair in Bengaluru, additional reporting by Priyamvada C; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ I drove electric SUVs from Kia, Hyundai, and Tesla — and I see why the Korean brands are gaining on Elon Musk
▼ + stars: | 2023-01-18 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

The Kia EV6 and Hyundai Ioniq 5 are some of the trendiest new electric vehicles challenging Tesla. The trendy Korean SUVs are stylish, fun, and technologically advanced — and are making trouble for Tesla's Model Y. The 2022 Hyundai Ioniq 5. The 2022 Kia EV6. The Tesla Model Y. Tim Levin/InsiderPlus, they drive greatThe Model Y accelerates like nobody's business and takes turns like a sports car.

☆ Call us back, Ye! Kanye West changed his number and now lawyers say they can't get in touch with him.
▼ + stars: | 2023-01-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Lawyers who repped Ye aka Kanye West still can't reach him, they said in court filings. The rapper, who goes by Ye, changed the phone number he used to communicate with his lawyers. In Friday's filing, the lawyers say that Ye changed his phone number. The lawyers at Greenberg Traurig aren't the only ones having trouble getting in touch with Ye. In the Friday filing, the lawyers at Greenberg Traurig said they have spoken to the lawyers for Thomas St. John about their shared predicament.

☆ Why some cars from the 1990s are soaring in value
▼ + stars: | 2023-01-16 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +8 min

CNN —Not that long ago, cars from the 1990s were just used cars. In addition to insuring collectible cars, Hagerty also owns the auction company Broad Arrow. Values for 1990s-era collectible cars have risen by an average of 78% over the past three years, “which is huge,” Rabold said. Cars from the ’90s have at least some modern comfort and safety features, and even relatively inexpensive cars can have respectable power and performance. We’re talking about “collectible” cars.

☆ Singapore 2022 bunker fuel sales dip 4.3% y/y to 47.9 mln tonnes
▼ + stars: | 2023-01-13 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

SINGAPORE, Jan 13 (Reuters) - Sales of marine fuel in Singapore, including sales of liquefied natural gas and biofuels, fell 4.3% year-on-year to 47.9 million tonnes in 2022, official data showed on Friday. Bunkering sales of low-sulphur fuel oils (LSFO) were down 8.3% from the previous year to 30.1 million tonnes in 2022, Reuters calculations based on data from the Maritime and Port Authority of Singapore (MPA) showed. Total high-sulphur fuel oil (HSFO) sales for bunkering were up 6.2% from the previous year to 13.7 million tonnes in 2022, while sales of marine gasoils (MGO) dipped 6.2% to 3.8 million tonnes in 2022. Bunker sales of biofuel blends reached 140,000 tonnes with more than 90 biofuel bunkering operations completed in Singapore, surpassing bunker sales of liquefied natural gas (LNG) which totalled 16,000 tonnes, the MPA said. A total of 577.7 million tonnes of cargo was handled in 2022, with vessel arrival tonnage hitting 2.83 billion gross tonnage (GT).

☆ I've driven 19 electric cars. Here are 4 reasons you should consider buying one (that have nothing to do with the environment).
▼ + stars: | 2023-01-10 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

I've driven electric cars from Tesla, Audi, Porsche, Hyundai, Kia, Volkswagen, Rivian, and more. EVs are quick, fun, and quietThe 2022 Kia EV6 GT-Line. Tim Levin/InsiderAlmost all EVs, from budget Chevys to sporty Audis, have more pep in their step than comparable gas cars. The 2022 Kia EV6. Tim Levin/InsiderSince electric cars lack bulky components like an engine and transmission, automakers enjoy lots of flexibility to add extra interior room for people and stuff.

☆ Stocks making the biggest moves midday: Bed Bath & Beyond, Coinbase, Virgin Orbit and more
▼ + stars: | 2023-01-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Discovery — Shares of the media company jumped more than 6% after Bank of America added the stock to the "US1" list. Coinbase — Shares jumped almost 6% after the cryptocurrency exchange shared plans to trim its workforce by 20%. Bed Bath & Beyond — The retailer jumped nearly 19%. Frontline — Shares of the shipping company jumped 26% after Frontline announced that it was terminating a deal to combine with Euronav. Agilent Technologies — Shares rose more than 4% a day after the company announced a $2 billion share repurchase program.

☆ Fed-up Tesla owners say they're so sick of Elon Musk's antics that they're ditching their cars
▼ + stars: | 2023-01-07 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

Some Tesla owners are done with the electric-car brand over Elon Musk's antics. We spoke to three Tesla owners who say Musk has made them rethink their relationship with the brand. Perkowitz is one of many Tesla owners rethinking their allegiance to the brand as Elon Musk becomes an increasingly erratic and polarizing figure online. "Elon was a really good reason to buy the car," Perkowitz told Insider. "I've been kind of stalling waiting for Elon to come to his senses and say something that makes sense," Perkowitz said.

☆ 2023 Kia EV6 GT: Fast, Furious, Almost as Good as Tesla
▼ + stars: | 2023-01-06 | by ( Dan Neil | ) www.wsj.com time to read: 1 min

NEED FOR SPEED The performance-enabled version of Kia’s EV6 is the 2023 EV6 GT, with an available 576 hp and 545 lb-ft entrained in the dual-motor all-wheel drive system. Car and Driver recorded 0-60 mph acceleration in 3.2 seconds for the GT, which is quicker in their testing than the Porsche Taycan 4S or Ford Mustang Mach-E GT Performance. IF THERE IS one rule that people infallibly remember from driver’s ed, it’s that a yellow traffic light means “clear the intersection.” My wife, Tina, has a particularly expansive interpretation of “yellow,” I’ve noticed, exercising her right-of-way at intersections unto the last millisecond of amber, while I watch through my fingers. It’s for these moments, and drivers, that Kia has purposed the 2023 EV6 GT, a low-volume, time-dilating variant of the company’s chic electric crossover.

☆ At CES 2023, Sony's 'Gran Turismo' flags new entertainment strategy
▼ + stars: | 2023-01-04 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +6 min

It also represents a significant bridging of the divides between Sony Pictures Entertainment, Sony PlayStation and Sony Music, according to a dozen current and former senior executives interviewed by Reuters. “I defined our identity as a creative entertainment company with a solid foundation on technology,” Sony chief executive Kenichiro Yoshida said. Sony’s “creative entertainment” company approach extends beyond content. A Sony-Honda electric vehicle, scheduled to reach consumers by 2026, is being framed as a rolling showcase of Sony’s entertainment, gaming and camera sensor prowess. This August will bring another test of Sony’s strategy when “Gran Turismo” hits theaters after languishing for 12 years.

☆ Dry January is almost here. Here are 7 of our favorite, tasty non-alcoholic beverages to enjoy all month
▼ + stars: | 2022-12-30 | by ( Bethany Biron | ) www.businessinsider.com time to read: +8 min

Dry January is almost upon us, and people around the world are gearing up for a booze-free month. The non-alcoholic beverage market is booming, with sales up 7% to become a $11 billion market in 2022. Here are some of our favorite booze-free options to enjoy all month long, and beyond. In addition to containing zero alcohol, it also has zero calories, zero carbohydrates, and zero gluten, making it a health-conscious option as well. The fizzy beverage has become a fan favorite on social media, with several TikTok posts dedicated to the drink.

☆ Where's Ye? The lawyers who dropped Kanye West after his antisemitic tirades can't locate him to say they've quit.
▼ + stars: | 2022-12-29 | by ( ) www.businessinsider.com time to read: +6 min

The lawyers can't find him to tell him they've quit, and West isn't responding to texts. Lawyers for Greenberg Traurig were able to serve West with documents telling him they no longer wanted to represent him. In that case, held in federal court in California, US District Judge George H. Wu allowed Greenberg Traurig to withdraw on December 2. In court documents first reported by The Sun and reviewed by Insider, lawyers for Thomas St. John said on December 19 that they couldn't serve West with the lawsuit. West's previous lawyers — presumably the ones at Greenberg Traurig — told the management firm they no longer represented West, and the firm couldn't locate any replacement firm.

☆ A tense all-hands meeting at Google leaves employees worried about layoffs
▼ + stars: | 2022-12-12 | by ( Matt Weinberger | ) www.businessinsider.com time to read: +5 min

Oh, and Insider released its inaugural Cloudverse list of the 100 top leaders building the next generation of the Internet. Insider's Hugh Langley reports on a tense all-hands inside Google, where employees once again pushed CEO Sundar Pichai to comment on the possibility of layoffs. Google employees have been worried about layoffs for a while, especially while pretty much all of the search giant's peers in Big Tech have cut jobs in recent weeks and months. Notably, employees used the all-hands to raise concerns over a new performance tool named GRAD. Swapping Big Tech for climate tech.

☆ Ford unveiled a $1.7 million, track-only supercar with 800 horsepower — and it's only making 67 of them
▼ + stars: | 2022-12-09 | by ( Tim Levin | ) www.businessinsider.com time to read: +2 min

Its final sendoff is the $1.7 million Ford GT Mk IV, the most powerful GT to date. The Detroit automaker on Friday unveiled the 2023 GT Mk IV, an extremely limited, $1.7 million version of its GT supercar. The 2023 Ford GT Mk IV. The GT Mk IV is the most powerful GT to date, promising to crank out more than 800 horsepower from a unique twin-turbocharged engine. The 2023 Ford GT Mk IV.

☆ Nike basketball sales aren't expected to suffer after cutting ties with Kyrie Irving as anticipation builds for a Ja Morant signature shoe
▼ + stars: | 2022-12-06 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

Memphis Grizzlies star Ja Morant is expected to get the next Nike signature shoe. "When his signature shoe starts selling, it has the potential to be what Kyrie's was the first three years." Still, Burns noted Nike basketball is on the upswing, and Morant has a strong reputation. The shoe is nearly sold out on Nike's website, suggesting strong demand for performance basketball shoes and room in the market for a new signature shoe. "Nike basketball has rebounded," Burns said, citing the popularity of the GT Cut.

☆ Indonesia's GoTo says some pre-IPO shareholders not taking up secondary offering
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Dec 1 (Reuters) - Indonesian biggest tech firm PT GoTo Gojek Tokopedia (GOTO.JK) said on Wednesday evening that some of its pre-IPO shareholders had decided not to take up a secondary offering of shares at this time. The shareholders were those who considered the proposed transaction, GoTo said in a statement without naming them. Shares of GoTo closed down 6.79% on Wednesday to 151 rupiah a piece prior to the announcement. The announcement came as the eight-month lock-up period for pre-IPO shareholders expired on Wednesday. GoTo, which raised $1.1 billion in an IPO last April, said in October that the purpose for a coordinated secondary offering of shares was to "facilitate an orderly sale through the negotiated market."

Some elements of the Jeep joint venture's failure are particular to Stellantis - and the former car groups that feature among its 14 brands. But data compiled for Reuters by consultancy LMC Automotive expose a problem shared by a number of other global carmakers: plummeting Chinese plant usage. Reuters GraphicsThe Jeep failure in China happened less than two years after Stellantis was formed by the merger of PSA and Fiat Chrysler. "Chinese companies actually have an early mover advantage because they embraced electrification faster than the foreign companies were willing to," he added. While fully-electric cars make up an average of 5% of models foreign carmakers sell in China, they account for 30% of Chinese carmakers' models, according to LMC data.

The House agriculture committee will likely be led starting in January by Glenn "GT" Thompson of Pennsylvania. The farm bill has a historical reputation of bipartisanship, so some advocates told Reuters they are warily optimistic. Passage of the 2014 farm bill was held up more than a year as conservative House Republicans tried unsuccessfully to strip the bill of nutrition programs. Every Republican member of the House agriculture committee signed a letter calling the funding “abusive and troublesome." At an August farm conference in Iowa, Thompson said if he led the agriculture committee, he would "ensure that the farm bill doesn't become a climate bill."

Search resuls for: "GT"

25 mentions found