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☆ Tesla price cuts are "a warning"-Renault brand CEO
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +1 min

Companies Renault SA FollowTesla Inc FollowPARIS, April 17 (Reuters) - A wave of price cuts by Tesla (TSLA.O) is a "warning" for rival manufacturers of electric vehicles, the chief executive of French car maker Renault's flagship brand said on Monday. But Fabrice Cambolive, the CEO of the Renault brand, said Tesla's price cuts would force the group to take a close look at its pricing policy worldwide. "We will analyse country by country, market by market, which level of competitiveness we need to have to stay in the match," he told reporters. Worldwide sales for the brand reached 354,545 units in the first three months of the year, the company said on Monday. Sales for the Renault brand, which represents two-thirds of group sales, fell by 9.4% last year, also recording their fourth consecutive annual decline.

☆ Gen Zs don't have a lot of money, but they're traveling anyway
▼ + stars: | 2023-04-17 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +4 min

Gen Zs aren't easing into the travel market — they are exploding into it. Source: Morning ConsultYet unlike past generations, Gen Zs aren't waiting until they have high-paying jobs or a nest egg of savings to travel. Rather, "they are finding ways to fit it into their budgets now," according to Morning Consult's report on Gen Z travel trends. Only 11% Gen Zs who travel frequently come from households earning $100,000 or more annually, according to Morning Consult. Gen Zs and millennials also want — and will shell out more for — pools and pet-friendly accommodations, according to Hopper's "2023 Travel Trends Report."

☆ LVMH CEO Bernard Arnault's wealth soared to a record high of $210 billion on the same day protestors swarmed the company's headquarters in Paris
▼ + stars: | 2023-04-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

LVMH boss Bernard Arnault's fortune soared by $12 billion on Thursday to a record high of $210 billion, per Bloomberg. LVMH shares hit a record high in Thursday trade after a strong first-quarter earnings report. On Thursday, LVMH shares price on the Euronext Paris stock exchange hit a record high of 884.50 euros, or $979, before closing 5.7% higher at 883.90 euros a piece. LVMH's Arnault has featured frequently in protest slogans and chants, per Reuters on Thursday. LVMH shares are extending gains on Friday, trading 0.7% higher at 889.90 euros at 9:57 a.m. in Paris.

☆ Bernard Arnault's fortune nears $210B as he widens gap with Elon Musk
▼ + stars: | 2023-04-14 | 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 EmailBernard Arnault's fortune nears $210B as he widens gap with Elon MuskCNBC's Andrew Ross Sorkin reports on the wealth gap amongst the world's richest.

☆ Renault strikes battery deal with Verkor for premium EVs
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

PARIS, April 13 (Reuters) - Renault (RENA.PA) on Thursday announced a long-term commercial partnership with French start-up Verkor for the supply of electric batteries with an overall capacity of 12 GWh per year, including for Renault's future compact Alpine model. Under the new deal, Verkor - in which Renault started to invest in 2021 - will produce batteries for its premium Renault and Alpine models in a plant in Dunkirk, northern France. The first car using the Verkor batteries will be the Alpine C-Crossover GT, which Renault plans to start building in 2025. Asian battery producer Envision AESC will also provide batteries to the group, used in smaller and less powerful vehicles from another factory located in Douai, close to Dunkirk. Reporting by Gilles Guillaume, writing by Tassilo Hummel, editing by Benoit Van OverstraetenOur Standards: The Thomson Reuters Trust Principles.

If you have one of the Chase IHG Rewards credit cards, you'll earn an extra 10 points per dollar with the IHG® Rewards Premier Credit Card and IHG® Rewards Premier Business Credit Card, or 5 points per dollar with the IHG® Rewards Traveler Credit Card. Other ways to redeem IHG pointsOpt for airline miles instead of IHG Rewards pointsIf you'd rather receive airline miles for your stays instead of IHG Rewards points, that's an option, though redemption rates vary by airline. Transfer IHG points to a friendThere's also an option to transfer IHG points to a friend or family member at a cost of $5 per 1,000 points, or buying them through IHG's website. Some of these redemptions are as low as 100 IHG points, so if you haven't had any activity in your account recently, this is a good way to keep your IHG points from expiring. Use IHG points to attend special eventsThrough IHG Auctions, you can redeem IHG points for concerts, sports, special events, or other experiences.

☆ Louis Vuitton boss Bernard Arnault is only the 3rd person to be worth $200 billion – and his 5 kids are all Nepo babies
▼ + stars: | 2023-04-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Luxury goods mogul Bernard Arnault is the world's richest person. Eric Piermont/Getty ImagesBernard Arnault is currently the world's richest person with a net worth of about $201 billion, according to estimates by Bloomberg. He's only the third person to surpass the $200 billion mark following tech moguls Jeff Bezos and Elon Musk, both of whom have since seen their wealth fall. Arnault cofounded LVMH in the 1980s, and is its CEO and chair. Last year LVMH raised the age limit of its CEO from 75 to 80, extending Arnault's possible tenure.

☆ LVMH boss Bernard Arnault's wealth soared over $200 billion, making him the third person ever after Elon Musk and Jeff Bezos to reach the milestone
▼ + stars: | 2023-04-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

LVMH boss Bernard Arnault's net worth surpassed $200 billion on Tuesday. Arnault is also the first person outside the US to surpass a net worth of $200 billion. His net worth gained $2.4 billion on Tuesday, bringing the Frenchman's fortune to $201 billion, per Bloomberg's index. Shoppers in China are expected to boost the luxury goods sector this year after the country lifted COVID-zero restrictions. The 73-year-old tycoon has not announced who will succeed him as LVMH CEO.

☆ The EV industry is gaining momentum. But public charging is a long way from being accessible to all
▼ + stars: | 2023-04-05 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +7 min

Equally important is making sure these EV chargers are accessible to all. Ensuring EV chargers are accessible to all is a big task, and organizations like Motability are pushing hard to create conditions for change. In collaboration with the U.K. government's Office for Zero Emission Vehicles, it commissioned the British Standards Institution to develop a "national accessible charging standard for EV chargepoints." Separately, it received funding from Motability to develop design guidance for those involved in the charging industry. In July 2022, the U.S. Access Board, an independent federal agency, issued design recommendations for accessible charging stations.

☆ Bernard Arnault just took the Number 1 spot on Forbes' annual billionaires list for the first time. Here's how he built LVMH into a luxury goods empire and became the richest person in the world.
▼ + stars: | 2023-04-04 | by ( Katie Warren | Avery Hartmans | Sarah Jackson | ) www.businessinsider.com time to read: 1 min

Now, a banner year at LVMH has propelled Arnault to the No. 1 spot on Forbes' annual ranking of the world's richest people for the first time, surpassing Elon Musk and Jeff Bezos along the way. Arnault's net worth is currently $211 billion, up $53 billion in the past 12 months for the biggest gain of any billionaire on the list this year. ERIC PIERMONT/AFP/Getty ImagesSource: ForbesMarissa Perino contributed reporting. Taylor Nicole Rogers contributed to an earlier version of this story.

☆ Northvolt, a $12 billion startup founded by an ex-Tesla VP, thinks crushing and shredding old batteries is the way to make electric vehicles truly sustainable
▼ + stars: | 2023-04-03 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +8 min

NorthvoltHow Northvolt's process worksNorthvolt's recycling process, which was dreamed up in 2018 and planned and tested in the following years, involves crushing, shredding, and filtering dismantled batteries. Northvolt is left with a black powder called black mass, which contains nickel, manganese, cobalt, and lithium. Once Northvolt's latest venture, Revolt Ett, is up and running at full capacity, it's expected to recycle 125,000 tons of battery materials each year. Cylindrical cells; shredded pieces of steel, copper, aluminium, plastic, and black mass from mechanical recycling; black mass; and a mix of nickel, manganese, and cobalt sulfates. The Hydrovolt pilot runs Northvolt's recycling process up to the black-mass stage.

☆ Mike Pence gambled his career to become Trump's successor. Now he can't even find a lane to compete against his former boss.
▼ + stars: | 2023-04-01 | by ( Madison Hall | ) www.businessinsider.com time to read: +6 min

Mike Pence gambled his future to become President Donald Trump's running mate and vice president. Two years after leaving office, it appears all for naught, as he can't seem to find a lane to compete against his former boss. This, in part, led to some Trump supporters storming the Capitol whilst chanting "hang Mike Pence." But despite this, Monmouth University polling from March 2023 shows him lagging behind other prospective candidates, like DeSantis and Trump, in favorability polls among evangelical Republicans. According to Morning Consult's surveying, Pence once again received the second-most "unfavorable" polling behind only former Rep. Liz Cheney.

☆ Nissan says it and Renault are confident alliance deal will be sealed soon
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: 1 min

[1/2] A logo of Renault is seen on a car during the French carmaker Renault's 2022 annual results presentation in Boulogne-Billancourt, near Paris, Feburary 16, 2023. REUTERS/Christian HartmannTOKYO, March 31 (Reuters) - Nissan (7201.T) and Renault (RENA.PA) are working well together to sign a final agreement about the reshaping of their alliance and are confident that a deal will be reached soon, Nissan said in a statement on Friday. The company was responding to an earlier report by Japanese news agency Jiji which said that the final contract on the reboot of the alliance may be delayed until after April due to extended discussion on electric vehicles and intellectual property. Reporting by Daniel Leussink and Gilles Guillaume, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

Before you open a bank account for a minor, make sure you outline a clear purpose for the account. A kid's bank account is a type of joint bank account between a child and another individual. Depending on where you bank, you may need to open a traditional savings account or a specialized bank account tailored only for children. A custodial bank account is not the same as a traditional kid's bank account. How to open a bank account for a minorTo open a bank account for a minor, one of the individuals signing up for the account must be over the age of 18.

☆ Britishvolt deal at risk of collapse over power supply contract - FT
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

March 31 (Reuters) - Recharge Industries Pty Ltd's attempt to buy the Britishvolt site is at risk of collapsing due to a dispute with administrator EY over a power supply contract signed by the failed battery startup, the Financial Times reported on Friday. Australia-based Recharge Industries and the British accounting firm hit an impasse over payments related to transferring a grid connection contract with the UK's National Grid, the report said, citing people familiar with the matter. EY, Britishvolt and Recharge Industries did not immediately respond to Reuters' requests for comment. Recharge Industries bought Britishvolt's intellectual property for 8.6 million pounds ($10.61 million) last month, but is yet to pay the 9.7 million pounds for the land despite passing of the deadline, the FT report added. ($1 = 0.8108 pounds)Reporting by Rahat Sandhu in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

☆ How salt built the global economy and how the U.S. uses it today
▼ + stars: | 2023-03-28 | by ( Andrea Miller | Lindsey Jacobson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow salt built the global economy and how the U.S. uses it todayWars were fought over it, roads paved for its trade, taxed levied against it and even cities named for its legacy. Salt, in fact, made global economics possible. The global market for salt was worth over an estimated $13 billion in 2021. But the increased salinization has contaminated drinking water and soils, causing billions in damages. Watch the video above to learn more about the history of salt and the possible solutions for a saltier world.

☆ Australia's United Malt shares soar on near $1 bln offer from France's InVivo
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

The A$5 per-share non-binding offer represents a 45.3% premium to the United Malt stock's last close of A$3.44. Shares in United Malt soared to A$4.64 in their biggest intraday percentage jump ever when they returned to trading. Trading in United Malt shares was halted on Monday. United Malt is the world's fourth largest commercial maltster, producing bulk malt for brewers, craft brewers, distillers and food companies. United Malt has appointed Macquarie Capital as its financial adviser for the deal.

☆ More millennials are turning 40 — and they're changing travel as we know it
▼ + stars: | 2023-03-27 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +6 min

And they're bringing their tech-savviness, social consciousness and spending habits in tow, which is transforming a travel industry intent on staying ahead of the times. "When it comes to nearly all travel behaviors, millennials are the generation most likely to engage — and they do so often," said Lindsey Roeschke, travel and hospitality analyst at Morning Consult. Where millennials stayFrederic Lalonde, CEO of the travel app Hopper, said its customers are twice as likely to stay in a home than a hotel. "It's all driven by our primary users, who are millennials and Gen Z," he said at the Skift Global Forum 2022. Since 2019, Airbnb home rentals increased the most among travelers with children aged six and younger, according to the company.

☆ Wall St ends higher as Yellen vows actions to safeguard deposits
▼ + stars: | 2023-03-23 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

"The market as a whole is telling you is there are a lot of different ways to interpret all the things people are saying." Interest rate hikes by central banks around the world have stressed the banking sector, which became manifest with the recent failures of SVB Financial Group (SIVB.O) and Signature Bank (SBNY.O). Comments from the Bank of England that inflation will probably quickly fade also helped fuel hopes of light at the end of the central bank tightening tunnel. "Every central bank that was on path to raise rates raised them," GLOBALT's Martin added. Shares of First Republic Bank (FRC.N) dropped in volatile trading in the wake of Yellen's testimony.

☆ Trump holds first 2024 campaign rally in Waco on the 30th anniversary of the city's deadly cult siege — and urges fans to 'take our nation back' ahead of a possible indictment
▼ + stars: | 2023-03-21 | by ( Warren Rojas | ) www.businessinsider.com time to read: +3 min

Former President Donald Trump is holding his 2024 campaign kick-off event Saturday in Waco, Texas. Cult leader David Koresh fought federal agents there in 1993 in a standoff where nearly 100 died. Trump is bracing for indictment any day now and has urged supporters to protest if he's arrested. Trump beat President Joe Biden there by 23 points the last time around, collecting nearly two-thirds of the total votes. Trump campaign aides did not immediately respond to requests for comment about the timing or planning surrounding the upcoming Waco trip.

☆ The US's B-29 bomber was more expensive than the nuclear bomb it dropped on Japan at the end of World War II
▼ + stars: | 2023-03-21 | by ( Miguel Ortiz | We Are The Mighty | ) www.businessinsider.com time to read: +5 min

The Manhattan Project cost about $2 billion, or nearly $30 billion in 2021 dollars. The US's B-29 bomber program cost $3 billion, or just over $44.5 billion in 2021 dollars. In total, the program cost about $2 billion, or nearly $30 billion in 2021 adjusted for inflation. It was pushed through though because it was necessary for the Manhattan Project to work and the war to be won. It was also incapable of carrying and delivering the atomic bomb being developed by the Manhattan Project.

☆ Drag queens say they tweak their performances if they notice a kid in the crowd. Republicans have cast the performances as dangerous for children.
▼ + stars: | 2023-03-20 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

A Florida drag queen said performers adjust shows when there are children and families in the crowd. Republicans have targeted drag events for kids, introducing bills to restrict and prohibit attendance. Family-friendly drag events — such as Drag Queen Story Hour, which was established as a nonprofit in 2015 and has since become a national event — are under fire from Republican lawmakers. Bills prohibiting minors from attending drag queen events, banning drag performances in public, and classifying drag performances as adult-oriented businesses have been filed across the United States in recent months. Another drag queen, Venus Envy, told Insider that while they don't solely participate in family-friendly performances, they are accustomed to "tailoring my shows to my audiences."

☆ US presidents who faced sex scandals before and during their time in office
▼ + stars: | 2023-03-18 | by ( Katie Balevic | ) www.businessinsider.com time to read: 1 min

Franklin D. Roosevelt cheated with his wife's secretary, records show. Eleanor and Franklin D. Roosevelt. CORBIS/Corbis via Getty ImagesRoosevelt, who was in office from 1933 until his death in 1945, had a longtime affair with his wife's secretary, according to The New York Times. FDR married Eleanor Roosevelt, his fifth cousin once removed, in 1905. The couple continued a civil marriage, but there's some evidence Roosevelt's affair with Rutherfurd likely continued during his presidency, according to The Times.

☆ Volkswagen to invest in mines in bid to become global battery supplier
▼ + stars: | 2023-03-17 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

Europe's biggest carmaker wants its battery unit PowerCo to become a global battery supplier, not just produce for Volkswagen's own needs, Thomas Schmall told Reuters in an interview. Long-term, Volkswagen plans to build enough cells to meet half its global battery needs, with most production capacity located in Europe and North America, according to Schmall. "The bottleneck for raw materials is mining capacity - that's why we need to invest in mines directly," he said. Volkswagen released on Thursday the details of a 25,000-euro EV it aims to sell in Europe from 2025. Asian producers like CATL, LG Chem and Samsung SDI dominate global cell production, with almost half of planned battery cell capacity in Europe by Asian players.

☆ Mexico launches appeal in suit against U.S. gun makers
▼ + stars: | 2023-03-16 | by ( Sarah Morland | ) www.reuters.com time to read: +2 min

MEXICO CITY, March 15 (Reuters) - Mexico has filed an appeal in a civil lawsuit against U.S.-based gun manufacturers, it said on Wednesday, looking to crack down on the trafficking of weapons to powerful drug cartels. A U.S. judge in September dismissed the $10 billion lawsuit seeking to hold U.S. gun makers responsible for facilitating the trafficking of deadly weapons across the border. The issue of gun violence in Mexico has drawn new scrutiny on both sides of the border in recent days following the cartel-linked kidnapping of four Americans in the northern state of Tamaulipas, during which two of them and a Mexican bystander were killed. Mexico is not the only country in the region to be plagued by gun violence. Reporting by Sarah Morland; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

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