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Search resuls for: "Penske"


14 mentions found


☆ Saudi money is flowing to US media and entertainment, from Live Nation to LIV Golf, 5 years after Jamal Khashoggi's murder: 'The ice has thawed'
  + stars: | 2023-04-03 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com   time to read: +20 min
Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Insider identified some key people connecting Middle East investors with American companies. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Vince McMahon's WWE has a long-term partnership with the Kingdom of Saudi Arabia, with a major live WWE event there slated for May. Vince McMahon's WWE was one of the first US companies to create unique events in Saudi Arabia.
☆ 9 Middle Eastern funds and investors pouring money into US media, sports, and entertainment
  + stars: | 2023-04-03 | by ( Lucia Moses | Claire Atkinson | ) www.businessinsider.com   time to read: +9 min
Governments and investors in the Middle East are pouring money into Western media and entertainment. Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment, and they're finding plenty of takers. The channels for money from Saudi Arabia and other parts of the Middle East are complex. Insider broke down the key entities — their owners, leaders, and high-profile investments and joint ventures — in the top three Middle Eastern nations pouring money into US entertainment and media. It describes itself as the largest media company in the Middle East and North Africa and runs one of the largest TV news channels, Al Arabiya.
☆ Saudi money is pouring into Hollywood and media, 5 years after the murder of Jamal Khashoggi. Here's who's cashing in and how.
  + stars: | 2023-03-15 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com   time to read: +13 min
Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Even those media players that are comfortable with invetment from the Middle East may not find funds flowing, one Hollywood veteran said. A major live WWE event in Saudi Arabia is slated for May. Of the growing ties between US entertainment and media and Middle East investors, this person added, "Presumably media organizations got into this to help society make better decisions."
☆ A flurry of earnings reports, Fed rate hike, signs of a bull market
  + stars: | 2023-02-04 | by ( Zev Fima | ) www.cnbc.com   time to read: +7 min
Earnings season continues next week, with Club holdings Linde (LIN), Emerson Electric (EMR) and Walt Disney (DIS) all set to report. Similarly, shares of Meta Platforms (META) have surged over 20% since CEO Mark Zuckerberg reassured investors Wednesday evening that 2023 would be the technology giant's "year of efficiency." The bull case is further supported by continued signs inflation is easing, a still-robust job market and the breadth of market-buying activity since the start of the year. Lastly on Wednesday, the Fed's Federal Open Market Committee raised the federal funds rate by 25 basis points, in line with expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ Earnings and Fed Chair Powell will again drive markets in the week ahead
  + stars: | 2023-02-03 | by ( Patti Domm | In | ) www.cnbc.com   time to read: +8 min
With few economic releases and the earnings season starting to wind down, an appearance by Federal Reserve Chairman Jerome Powell Tuesday could be among the newsiest events for markets in the week ahead. The Fed chair is speaking at the Economic Club of Washington D.C. at midday Tuesday. If he wanted to walk back anything, he could have done it then," said Art Hogan, chief market strategist at B. Riley. Economists said Friday's surprisingly strong jobs report should encourage the Fed to push forward with planned rate hikes. Earnings, earnings, earnings But there continues to be earnings news.
☆ U.S. NTSB to investigate road crash that killed six in New York
  + stars: | 2023-01-29 | by ( David Shepardson | ) www.reuters.com   time to read: +1 min
Jan 28 (Reuters) - The National Transportation Safety Board (NTSB) said on Saturday it will investigate a crash of a Freightliner box truck and a bus that killed six in Louisville, New York. The NTSB said it is launching a six-member team to investigate the crash. Local TV station WWNY said roads were covered with snow and visibility was poor at the time of the crash. Photos of the devastating crash posted by WWNY showed it involved a Penske rental truck - a 2021 Freightliner box truck. The National Highway Traffic Safety Administration said earlier this month that in the first half of 2022 road deaths in crashes involving at least one large truck increased by 10%.
☆ Artificial intelligence and machine learning are helping companies provide even better service for customers
  + stars: | 2023-01-27 | by ( Sponsor Post | Created Hitachi With Insider Studios | ) www.businessinsider.com   time to read: +7 min
By harnessing Hitachi's advanced expertise in artificial intelligence (AI) and machine learning (ML), the partners took their existing model and expanded it into a predictive model they called Proactive Diagnostics. The Guided Repair solution is now being used by more than 9,700 Penske fleet maintenance technicians in more than 880 locations. Using machine learning, the Proactive Diagnostics solution monitors fleet vehicles and tracks anomalies that indicate future potential failures." The Proactive Diagnostics solution provides data archived over days and weeks to give Penske that predictive power so it can act on its knowledge. With its enhanced capacity for analysis, Proactive Diagnostics enables Penske to compare fault codes and search for patterns that signal a potential failure.
☆ Biden tax credits aim to jolt electric delivery truck demand
  + stars: | 2022-12-29 | by ( Lisa Baertlein | ) www.reuters.com   time to read: +3 min
The first-of-its-kind incentives, established under President Joe Biden's Inflation Reduction Act (IRA), will offer tax credits of $7,500 or $40,000 depending on the size of the electric vehicle (EV). The IRA's commercial EV credits do not have "made in the USA" rules that apply to passenger cars. That will "help level the playing field for electric vehicles," said Ben King, associate director at Rhodium Group, a research firm. Jim Farley, chief executive at electric van market leader Ford Motor Co (F.N), this year predicted that IRA tax credits would have a "dramatic impact on the adoption of EVs." More commercial EV purchases should lower manufacturing costs and vehicle sticker prices - which should attract even more buyers, experts said.
☆ Auto dealer stocks rally despite Wall Street's 'demand destruction' theory
  + stars: | 2022-10-27 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
Vehicles are displayed for sale at an AutoNation car dealership on April 21, 2022 in Valencia, California. DETROIT – Shares of AutoNation , Group 1 Automotive and other automotive dealers rallied Thursday following strong third-quarter earnings and optimistic outlooks regarding consumer demand for new vehicles. "Clearly, there is some normalization that's going to occur and has occurred," Group 1 CEO Earl Hesterberg told investors after the company beat Wall Street's expectations on Wednesday. Shares of AutoNation were up by as much as 8.2% after the company beat Wall Street's estimates on Thursday. Pricing remains strong, demand remains strong for our products, but we can't ignore what others are saying out there and what others are seeing out there," GM CFO Paul Jacobson told reporters Tuesday after reporting strong third-quarter earnings.
☆ Stocks could continue to break higher as Apple, big tech report earnings in week ahead
  + stars: | 2022-10-21 | by ( Patti Domm | In | ) www.cnbc.com   time to read: +9 min
The three major averages closed higher Friday, with the S & P 500 adding 2.37% to close at 3,752.75. Stovall said the S & P 500 had six positive moves of 1% or more in the last 17 trading days, as of Friday. Earnings, earnings, earnings About 150 S & P 500 companies report earnings in the coming week. Technically speaking Scott Redler, partner with T3Live.com, said he is watching a formation in the S & P 500 that could be positive. His first target for the S & P 500 is 3,800.
☆ Nikki Finke, veteran Hollywood journalist, has died
  + stars: | 2022-10-10 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN Business —Nikki Finke, the sharp-tongue Hollywood journalist famous for her seemingly non-stop scoops, has died. “She posted firsthand accounts of how she saw the entertainment business and was unfazed about dressing down its biggest players,” Deadline wrote. In 2002, she joined LA Weekly and wrote its “Deadline Hollywood” column. In 2006, she started “Deadline Hollywood Daily,” which helped usher in an era of fast-paced blogging. “At her best, Nikki Finke embodied the spirit of journalism, and was never afraid to tell the hard truths with an incisive style and an enigmatic spark.
☆ Small Businesses Getting Squeezed Out in Push for Warehouse Space
  + stars: | 2022-10-05 | by ( Liz Young | Paul Berger | ) www.wsj.com   time to read: +4 min
A warehouse crush across the U.S. is squeezing out smaller companies as big retailers fill industrial storage sites with their growing stockpiles of inventory. Karen Galena, president of First Logistics, which has four warehouses in the Chicago area that provide space for retailers and manufacturers, said bigger customers are willing to pay higher prices for increasingly scarce storage space. “It’s tough for the small guy,” Ms. Galena said, noting labor and other costs are rising for warehouse operators. The challenges small businesses face finding warehouse space mirrors difficulties many had securing room on container ships earlier in the Covid-19 pandemic, when ocean carriers drove up rates and bumped smaller shippers to make way for larger clients. He said some companies are even generating revenue from unconventional storage space.
☆ Penske Automotive unit orders 750 Ford electric cargo vans
  + stars: | 2022-04-18 | by ( ) www.reuters.com   time to read: +1 min
April 18 (Reuters) - Penske Truck Leasing has ordered 750 of Ford Motor Co's (F.N) electric E-Transit cargo vans, the unit of Penske Automotive Group Inc (PAG.N) said on Monday. The move comes as several companies including FedEx Corp (FDX.N), UPS (UPS.N) and Deutsche Post (DPWGn.DE) unit DHL are experimenting with electric cargo vehicles as part of their own zero-emission vehicle plans. Penske also said that their long-term plans include adding more of the automaker's E-Transit vans to its wider network of rental, leasing locations across North America. Ford's E-Transit van comes in eight configurations, including three roof heights and three lengths, has an EV driving range of 126 miles. Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
☆ When I bought my house I was hit with over $1,500 in surprise expenses, but I had the money thanks to a simple piece of advice I followed religiously
  + stars: | 2021-01-13 | by ( Stephanie Hallett | Read More | Read Less | ) www.businessinsider.com   time to read: +6 min
Along the way we bumped into over $1,500 in unexpected costs, but we were prepared to cover them thanks to some money advice we'd followed religiously. Before reading that article, I didn't compartmentalize my savings; I didn't have "emergency" money separate from other savings. Once we'd filled our emergency fund with enough cash to cover three months of expenses, we moved on to building our down payment fund. Because we'd followed the advice in Tanza's article, though, we had the money to cover it in our emergency fund. Without our emergency fund to act as a cushion, these surprise expenses might have left us in debt.
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