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☆ What JD Vance's rise tells us about the influence of Peter Thiel — and Silicon Valley in the age of Donald Trump
▼ + stars: | 2024-07-26 | by ( Peter Kafka | ) www.businessinsider.com time to read: +12 min

Without Peter Thiel, Vance does not get anywhere near the US Senate. And in Silicon Valley, the conservative movement is much stronger, and more muscular than it was before. AdvertisementThere's this narrative, promoted by people like Thiel, that Silicon Valley is super-liberal. Because Silicon Valley has conservative roots in addition to roots in the counterculture. AdvertisementLike I said, the liberal nature of Silicon Valley has always been sort of overplayed.

Persons: —, I'm, Donald Trump, Vance, Peter Thiel —, Max Chafkin, who's, Thiel, Peter Thiel's, Trump, JD Vance, Narya, It's, supercharge, Bill Pugliano, David Sacks, Peter Thiel, revel, that's, he's, Elon Musk, Marc Andreessen, They're, Elon Musk's, Apu Gomes, Steve Jobs, Ben Horowitz Organizations: Service, Republican, Trump, Business, Bloomberg Businessweek, Republican National Convention, YouTube, Ohio Senate, The, Thiel, Twitter Locations: Silicon Valley, Mithril, Narya, Ohio, West Coast, —, America, Silicon, San Francisco

☆ Elon Musk and Tesla are on the rise after a brutal start to the year
▼ + stars: | 2024-07-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, a tough sales report for Tesla can't slow the EV maker's turnaround . After a dreadful start to the year, the EV maker has been running on all cylinders on a full charge. Tesla's polarizing CEO also notched a massive victory when investors approved Elon Musk's $55 billion pay plan . But what is new at Tesla, and what sparked the company's recent market rally, are big promises from its CEO. As automakers reconsider their EV strategy , Tesla has figured out how to build cars cheaper than anyone else .

Persons: —, I'm, Tesla, Jordan Strauss, Chelsea Jia Feng, Insider's Nora Naughton, BI's Filip De Mott, hasn't, Karol Serewis, Musk's, Nora, it's, he's, Musk, Apu Gomes, Steve Cohen's Point72, Ken Griffin's, Mark O'Hare, Larry Fink, execs, Marc Benioff, trouncing, It's, Jenny Chang, Rodriguez, they've, Morgan Stanley, Beryl, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, Chelsea, Wall, Elon Musk's, Getty Images, Getty, Ken Griffin's Citadel, BlackRock, EU, Google, YouTube Locations: Wick, Jamaica, New York, London

☆ 911 call logs for Tesla's HQ reveal reports of 'terroristic' threats and attempted extortion
▼ + stars: | 2024-06-26 | by ( Natalie Musumeci | Grace Kay | ) www.businessinsider.com time to read: +14 min

"Wire $300,000 dollars to bitcoin account within 12 hours," the email to Kirkhorn added, according to the incident report. The case was ultimately suspended and no arrest was ever made, according to the incident report and Dark. AdvertisementSome Tesla workers told BI that tight production deadlines and the intensity of the work could sometimes create a high-pressure environment. We were just standing outside the building waiting to go back to work," one worker, who was there during the ordeal, told BI. The sheriff's office told local news at the time that the building was cleared and there was "nothing to substantiate the presence of a shooter at all."

Persons: —, Elon Musk, Musk, Tesla, Zachary Kirkhorn, Zachary Kirkhorn —, Austin Gigafactory, Kirkhorn, Travis, Kristen Dark, SUZANNE CORDEIRO, Austin, Joe Biden, Justin Mathew McCauley of, McCauley's, McCauley, Justin Sullivan, they'd, Apu Gomes, X, Mark Zuckerberg, Zuckerberg, Meta, Sheryl Sandberg, John Lennon Organizations: Service, Business, Securities, Exchange Commission, BI, YouTube, Tesla's, Tesla, Street Journal, Office, Musk, FOX, Austin, Factory, Getty, Elon, SEC, Meta, Twitter, BBC Locations: Austin, Travis, Texas, Nigeria, Justin Mathew McCauley of Minnesota, Minnesota, Fremont , California, Tesla's, Sparks , Nevada, Nevada

☆ Elon Musk's payday drama comes to a head today
▼ + stars: | 2024-06-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

It's always sunny at Business Insider when "Welcome to Wrexham" star Rob McElhenney is around. In today's big story, we're looking at the drama between Tesla shareholders over Elon Musk's bumper pay package that gets decided on today . As funny as that sounds, the battle over Elon Musk's pay package is no joke. One longtime Tesla investor said the EV maker is " kind of the bottom of the pecking pole of Elon's companies ." Vote here on if you're for or against Musk's pay package .

Persons: —, Rob McElhenney, Elon, Apu Gomes, Chelsea Jia Feng, Insider's Grace Kay, they're, he's, Brooks Kraft, Musk, it's, Gwynne Shotwell, Somodevilla, Blackstone, Dan Ives, Araya Doheny, Patrick Fallon, Jenny Chang, Rodriguez, Henrik, Fisker, VCs, that's, whittle, Mark Zuckerberg, de Haro, Gen Zers, Mike Verdu, Slack, Brad Smith, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Elon, Getty, Retail, Brooks Kraft LLC, Nvidia, Tesla, Wall, SpaceX, Federal Reserve, Big Apple, Apple, Microsoft, BI, Adobe Locations: Wrexham, Delaware, Tesla, Manhattan, New York, London

☆ How to Save Tech Industry: Fire Managers, Put Tech People in Charge
▼ + stars: | 2024-06-11 | by ( Ed Zitron | ) www.businessinsider.com time to read: +11 min

This disastrous mindset has hollowed out Silicon Valley's ability to innovate and caused regular people to grow increasingly frustrated with everyday tech. The large platforms have generally ignored this feedback for one big reason: The tech industry has been taken over by career managers. Now Google Search is more profitable and worse, elevating spammy content and outright scams, a problem exacerbated by artificial intelligence. AdvertisementBut today's tech products feel built to sell a dream of the future rather than solve a customer's existing pains. As long as the tech industry is controlled by people who don't build things, it will continue to build products that help raise growth metrics rather than help consumers with tangible problems.

Persons: scammers hawking, Meta's, Hewlett Packard, Kevin Systrom, Mike Krieger, Adam Mosseri, Systrom, Krieger, Mosseri, Mark Zuckerberg, Instagram, Kylie Jenner, Kim Kardashian, Sundar Pichai, Prabhakar Raghavan, Raghavan, Ben Gomes, Gomes, it's, Sam Altman, Helen Toner, Ilya Sutskever, Larry Summers, Fidji Simo, Meta —, —, Steve Jobs, Steve Wozniak Organizations: Facebook, Google, Microsoft, Amazon, Oracle, Adobe, Meta, Builders, Apple, Xerox, HP, Department, Reuters Institute, Oxford University, Silicon Valley Locations: Silicon, Silicon Valley

☆ Taylor Swift shows support for Lady Gaga shutting down pregnancy rumors: 'It's invasive & irresponsible to comment on a woman's body'
▼ + stars: | 2024-06-05 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +3 min

Read previewLady Gaga and Taylor Swift are teaming up to squash "invasive" and "irresponsible" speculation about women's bodies. The photos fueled speculation that Gaga was expecting her first child with her boyfriend, Michael Polansky. Related stories"Can we all agree that it's invasive & irresponsible to comment on a woman's body," Swift wrote. Taylor Swift commented on Lady Gaga's TikTok to show her support. In the 2020 documentary "Miss Americana," Swift opened up about avoiding paparazzi photos during her eating disorder recovery.

Persons: —, Gaga, Taylor Swift, Michael Polansky, Swift, Gaga's TikTok, Pedro Gomes, TAS24, TikTok Swift, Gaga's Organizations: Service, The Daily, Business, Poets Department

☆ I work in the unpredictable film industry so I started blogging as a side hustle. Now it supports me fully — here's how I built it.
▼ + stars: | 2024-05-21 | by ( Elle Hardy | ) www.businessinsider.com time to read: +6 min

I could be on a three-month film set or a nine-month series set and then go months without a call. I started working on YouTube thumbnails and event flyers for the music industry. For example, a friend helped repair my dishwasher, so I put together "gift ideas for makers and tinkers." AdvertisementI started posting in groups and asking for gift ideas to write blog posts about. It's not money I would make on a film set, but it was something.

Persons: —, Ana Julia Gomes, I've, John Wick, Jessica Jones, It's, I'm, DINK Organizations: Service, Business, Constellation, Apple, DJ, WordPress, Facebook Locations: Berlin, Cuba, Miami, New York City

☆ Raine details 3 themes driving its sports investing as it hunts for more deals
▼ + stars: | 2024-04-25 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Raine was an early investor in DraftKings — which helped establish the US sports-betting sector — and has been investing at a rate of about three companies a year. Raine is looking to take stakes in leagues with rights they can monetize in various ways and invest in growing, founder-led companies. Raine says college sports still hold a big opportunity for outside investors, even if the structure of college athletics adds complexity. In 2019, Raine helped the Pac-12 Conference explore raising private equity (which it ultimately decided against doing). Raine also helped the PGA Tour raise $3 billion this year through a for-profit entity.

Persons: Joe Ravitch, Jeff Sine's, It's, Raine, Colin Neville, that's, Garrett Gomes, Raine isn't, Banks, JPMorgan Chase, Neville Organizations: Imagine, Business, Apple, Premiere Lacrosse League, RCX Sports, Private, Florida State, Sixth, JPMorgan, CNBC, PGA Locations: DraftKings, Florida

☆ Travel news: ‘World’s largest wildlife crossing’ being built in Los Angeles
▼ + stars: | 2024-04-20 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

CNN —In travel news this week: the world’s best and busiest airports, the European capital banning new hotels, the Hawaiian attraction being removed because of bad tourist behavior, plus the real-life animal crossing being built over a California freeway. Snakes will, however, be very welcome on “the world’s largest wildlife crossing,” under construction over the major 101 Freeway in Los Angeles. The Wallis Annenberg overpass will span 10 lanes and provide safe passage for mountain lions, coyotes, bobcats, toads and even ants. World’s best and busiest airportsThe world’s busiest airports were revealed in an annual ranking released Monday, with Atlanta’s Hartsfield-Jackson International holding strong in the No. US National Park Week starts April 20, kicking off with a free entry day on Saturday to all NPS sites.

Persons: Wallis, It’s, Alyssa Kopp, Mary Gomes Kopp, Doha’s, Florence’s, it’s, America’s Organizations: CNN, Aegean Airlines, Atlanta’s Hartsfield, Jackson International, UAE, Qatar, Doha’s Hamad international Airport Locations: California, Tokyo, Osaka, Los Angeles, Crete, Europe, Dubai, Amsterdam, Netherlands, Canary, Spanish, Africa, Italy, Ponte, Lake Mead, Hawaii

☆ Their partially sighted cat went missing on a flight. Weeks later they still don’t know what happened to it
▼ + stars: | 2024-04-17 | by ( Julia Buckley | ) edition.cnn.com time to read: +11 min

That’s what happened to Alyssa Kopp and her mother Mary Gomes Kopp when their cat Rodri went missing on a flight in Europe on March 8. ‘She was so grateful’Alyssa Kopp and her mother Mary Gomes Kopp rescue stray animals on Crete. Gomes Kopp and her husband, Alyssa’s stepfather, are German but have a home on the Greek island of Crete. They had been adopted by a German family, and Gomes Kopp had offered to bring them over. Gomes Kopp was allowed into an aircraft loading area one time, but has not been allowed back since.

Persons: CNN —, they’ve, Alyssa Kopp, Mary Gomes Kopp, Rodri, Gomes Kopp, Alyssa’s, ”, Kopp, “, it’d, ” Rodri, Alyssa, Alyssa Kopp Rodri, we’d, ” Kopp, –, ‘, Nicolas Economou, Goldair, ‘ Rodri, ’ Gomes Kopp, “ It’s Organizations: CNN, Aegean Airlines, Rodri, Airlines, Staff, Athens International, Iberia, Naia, Tenerife Locations: Europe, Aegean, Crete, It’s, Germany, Munich, Chania, Athens, –, “, Greece, Iberia, Spain, Madrid

☆ Passion and purpose inspire Brazilian chefs to serve authentic cuisines like the Carnival-favorite dishes feijoada and coxinha
▼ + stars: | 2024-04-15 | by ( Leila Jordan | ) www.businessinsider.com time to read: +8 min

The Brazilian chefs Leticia Schwartz and Luiza Souza shared their favorite dishes, including feijoada. Souza and Schwartz shared their favorite Brazilian dishes that embody the spirit of Rio during Carnival and beyond. Bar da Gema's fried polenta with oxtail, one of the restaurant's most popular dishes. Nico Schinco for BI"Feijoada is the most iconic food of Brazil and from Rio," Schwartz said. One of Bar da Gema's most popular dishes is coxinha, fried teardrop-shaped dough filled with shredded meat.

Persons: Leticia Schwartz, Luiza Souza, —, Schwartz, Nico Schinco, Gema, Kristin Bethge, Souza, Leandro Amaral, Amaral, Rio doesn't, Eduardo Gomes, brigadeiro, Brazil it's, BI Schwartz, hasn't Organizations: Service, Brazil's, BI Souza, Catholic, BI, Rio, polenta, Ash Locations: Rio de Janeiro, Greenwich , Connecticut, Rio, Bahia, Brazil, Brazilian, sprinkles, France, French, Portugal, French Guiana, Rio ., Minas Gerais, Curitiba

☆ Swelling US debt could tip US markets into crisis as soon as next year, Wharton professor says
▼ + stars: | 2024-04-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Market chaos could come next year if the US doesn't adjust its fiscal path, Joao Gomes told CNBC. The US can't afford to extend tax cuts next year, he said. If it doesn't adjust its fiscal trajectory soon, 2025 could be the year when markets start to roil, Wharton professor Joao Gomes warned. "That's something that could definitely happen to us next year," Gomes told CNBC on Thursday. "I think we'll have a serious debate next year about the tax cuts and whether to extend them or not," he said.

Persons: Joao Gomes, Wharton, —, It's, Gomes, Maya MacGuineas, Gomes isn't, Jamie Dimon, Ken Griffin Organizations: CNBC, US, Service, Bank of America, Penn Wharton Budget Model, Trump Administration, White House, Federal, Wall Locations: roil

☆ Wharton professor Joao Gomes on rising national debt: We just can't afford the tax cuts
▼ + stars: | 2024-04-04 | 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 EmailWharton professor Joao Gomes on rising national debt: We just can't afford the tax cutsJoao Gomes, Wharton School professor of finance, joins 'Squawk Box' to discuss the rising national debt, the potential impact on the economy if nothing is done to revert the course, and more.

Persons: Joao Gomes Organizations: Wharton School

☆ Bolsonaro: Brazil’s ex-president presented coup plot to top military leaders, court documents allege
▼ + stars: | 2024-03-15 | by ( Kareem El Damanhoury | Julia Vargas Jones | ) edition.cnn.com time to read: +1 min

São Paulo, Brazil CNN —Former President Jair Bolsonaro presented top Brazilian military leaders with a plan to stage a coup after he lost the 2022 election, newly released court documents have alleged. The country’s Supreme Court released the testimonies from former army commander Marco Antonio Freire Gomes and former air force commander Carlos de Almeida Baptista Jr. to the Brazilian Federal Police on Friday. Bolsonaro allegedly presented the plan in a meeting on December 7, 2022, at the presidential palace in Brasilia. In their testimonies, both Gomes and Baptista Jr. said they refused to carry out Bolsonaro’s alleged plan to stay in power and threatened to arrest him, documents show. Bolsonaro surrendered his passport to authorities in early February as part of a police investigation into an alleged coup attempt.

Persons: São, Jair Bolsonaro, Marco Antonio Freire Gomes, Carlos de Almeida Baptista Jr, Bolsonaro, Gomes, Baptista Jr, Bolsonaro’s, São Paulo, ”, Luiz Inácio Lula da Silva Organizations: Brazil CNN —, Brazilian Federal Police, CNN Brasil Locations: São Paulo, Brazil, Brasilia ., Brazil’s, São, Brasilia, Brasília

☆ Wharton finance professor sounds the alarm on soaring U.S. debt
▼ + stars: | 2024-03-14 | 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 EmailWharton finance professor sounds the alarm on soaring U.S. debtJoao Gomes, Wharton Professor, joins 'Fast Money' to discuss the growing federal debt and why it could spell disaster for the markets and economy in the future.

Persons: Joao Gomes, Wharton Organizations: Wharton

☆ Embraer CEO: We see growth in Asia for 'all of our business units'
▼ + stars: | 2024-02-21 | 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 EmailEmbraer CEO: We see growth in Asia for 'all of our business units'Francisco Gomes Neto of Embraer says that the company is seeing growth in Asia for both the commercial aviation and defense businesses and expects the deals they have already signed to "open the door for new markets".

Persons: Francisco Gomes Neto Organizations: Embraer Locations: Asia

☆ A Massachusetts high school wants to call in the National Guard to help quell a 'disturbing increase' in violent fights, drug abuse, and truancy
▼ + stars: | 2024-02-20 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

A high school committee in Massachusetts has asked the National Guard for help as it struggles to rein in student violence and drug abuse in its halls. "The National Guard does bring positivity, we use them to deploy COVID vaccinations." Rodrigues suggested that National Guard service members or staff be deployed as hall monitors and substitute teachers. "I know that the first thought that comes to mind when you hear 'National Guard' is uniform and arms," said Gomes. National Guard soldiers are not the answer," he said in a statement on Monday, per local station Boston 25 News.

Persons: Brockton, Maura Healey, Robert Sullivan, Healey, We're, Ana Oliver, Tony Rodrigues, Rodrigues, Claudio Gomes, Gomes, They're, Winthrop Farwell, Sullivan, Brockton's, Ana Reyes Organizations: National Guard, Business, ABC, Guard, Facebook, Boston, Brockton, PBS Locations: Massachusetts, Brockton, Boston, truancy, Commonwealth

Paulo Cesar Gomes, a 56-year-old entomologist, found some mosquito larvae swimming in shallow rainwater inside a car bumper. Captured mosquitos and larvae are kept alive and brought to a city laboratory to be tested for dengue. At locations with positive tests, health agents spray the walls with a product that kills mosquitos and then monitor the location for weeks. In Rio, more than 80% of mosquito breeding sites are located in residential properties, health officials say. Health workers and volunteers went door to door, pacing up and down the narrow streets of Rio's Tabajara working-class neighborhood, or favela, to spread the word.

Persons: Paulo Cesar Gomes, “, ” Ethel Maciel, Gomes, mosquitos, Maciel, Brazil’s, Oswaldo, Mário Sérgio Ribeiro, Vilza da Costa, ”, ” Maciel Organizations: RIO DE, Rio, Brazil's Health Ministry, Associated Press, World Health Organization, Health Ministry, Oswaldo Cruz Foundation Locations: RIO DE JANEIRO, Rio, Janeiro, Brazil, Rio de Janeiro, Rio's, America, Caribbean

A challenger to the mayor of Connecticut’s largest city announced Wednesday that he's staying in the race, despite losing a do-over Democratic primary ordered by a judge who threw out the results of the last one because of allegations of absentee ballot stuffing. Surrounded by supporters, Gomes raised concerns with the recent primary, saying some of his supporters were turned away, among other possible election law violations. His campaign has requested absentee ballots and absentee ballot applications to review. Gomes has come under pressure to bow out of the protracted and complicated race after incumbent Mayor Joe Ganim won last week's primary. Ganim, who has denied any knowledge of alleged absentee ballot stuffing, has accused the Gomes campaign of committing election law violations as well.

Persons: he's, ” John Gomes, Gomes, “, ”, Joe Ganim, Ganim, Republican David Herz, Lamond Daniels, Ned Lamont, Daniels, ” Herz, Herz, William Clark, ” Clark Organizations: Democratic, Independent Party, Republican, City Council, Democratic Gov Locations: Connecticut’s, Bridgeport, New York City, Superior

Last November, a state judge threw out the results of the Sept. 12 Democratic mayoral primary in Bridgeport and ordered a new primary to take its place. Here’s a look at what to expect on election night:PRIMARY DAY, PART 2The special do-over Democratic primary for mayor of Bridgeport, Connecticut, will be held on Tuesday. WHAT’S ON THE BALLOTThe Associated Press will provide coverage for the special Democratic mayoral primary in Bridgeport. It was 17% of registered party members in the Sept. 12 Democratic primary, down from 21% in the 2019 primary. Turnout for the first Democratic mayoral primary on Sept. 12 was about 17% of registered Democrats in Bridgeport.

Persons: Joe Ganim, Ganim, John Gomes, Gomes, David Herz, Lamond Daniels, Sen, Marilyn Moore, Joe Biden, Ganim eked, it’s Organizations: WASHINGTON, Democratic, Voters, Bridgeport, Press, WHO, AP Locations: Bridgeport , Connecticut, Bridgeport, City Hall, Connecticut

☆ The one thing the superrich want in their homes is simple — and it's actually cheap
▼ + stars: | 2024-01-16 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +5 min

"They want to be comfortable everywhere," an interior designer told Sotheby's of his luxury clients. Folks want to be at ease in 2024, according to Sotheby's luxury outlook for the year ahead , and no one has more spending power to make that a decadent reality in their homes than the wealthiest among us. Actor David Harbour showed Architectural Digest his Brooklyn backyard sauna and cold plunge pools, by New York-based modular sauna company Swelter House, in February 2023. "I got really into sauna and cold plunge, like, three years ago," he said, standing in the doorway of the Finnish-style sauna. Eklund's own home in Beverly Hills, California has an infrared sauna and a cold plunge pool, though, he told BI, he's "not the average buyer."

Persons: Sotheby's, —, Loro Piana, Kendall Roy, Robert Stilin, Stilin, Michael Gabellini, Gabellini Shephard, Kendall Jenner, Kardashian, Fredrik Eklund Bravo, Fredrik Eklund, John Gomes, David Harbour, Eklund, luxuriating, Liliya Krueger, Jenner Organizations: Service Locations: Los Angeles, Brooklyn, New York, Beverly Hills , California

☆ US Airlines Cancel Over 2,000 Flights Due to Massive Winter Storm
▼ + stars: | 2024-01-12 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) -Airlines in the United States canceled more than 2,000 flights on Friday after a massive winter storm knocked out power and affected businesses in 12 states ahead of a likely brutal freeze over the weekend. A total of 2,058 flights were canceled and 5,846 flights were delayed as of 5.30 p.m. Southwest Airlines led the list of cancellations with 401 flights, followed by SkyWest at 358. "We expect some operational challenges due to the weather in the Midwest today and potentially tomorrow due to the winter weather in the region," Delta Air Lines said. Southwest Airlines said in a travel advisory that some of its flights in Chicago, Detroit and Omaha could be impacted.

Persons: SkyWest, Nathan Gomes, Abhinav Parmar, Sriraj Kalluvila, Arun Koyyur, Shounak Dasgupta Organizations: Reuters, Airlines, United States, Southwest Airlines, Air Lines, Federal Aviation Administration, FAA, Alaska Airlines Locations: United, Midwest, Chicago, Detroit, Omaha, Bengaluru

☆ Ford's US vehicle sales slip 0.5% in November
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsDec 4 (Reuters) - Ford Motor (F.N) posted a 0.5% drop in U.S. new vehicle sales for November on Monday, as the automaker worked to restart some of its key plants following a lengthy workers' strike that impacted vehicle production. Ford reached a deal with the United Auto Workers (UAW) union in late October, ending an over month-long strike the company said will cost it $1.7 billion. Ford's CFO John Lawler said in October restarting the plants would be complicated after the deal, which UAW workers ratified in November. Sales of Ford's electric vehicles jumped 43.2%, to 8,958 units from a year ago, the automaker said on Monday. The company reported total sales of 145,559 vehicles in November, compared with 146,364 units last year.

Persons: David, Dee, Delgado, Ford, John Lawler, Nathan Gomes, Pooja Desai Organizations: New York, REUTERS, Ford, United Auto Workers, UAW, Detroit Three, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ Ford takes $1.7 billion profit hit from UAW strike
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +3 min

The automaker now expects adjusted earnings before interest and taxes (EBIT) of $10 billion to $10.5 billion for 2023. In July, it forecast adjusted EBIT of $11 billion to $12 billion. Ford said the new outlook included $1.6 billion in lost profits in the fourth quarter due to interruptions in production of high-margin trucks and SUVs. A month into the strikes, Ford said the company was "at the limit" of what it could spend on higher wages and benefits. The deal UAW leaders finally approved included a pay hike of at least 30% for full-time workers and more than double pay for others.

Persons: David, Dee, Delgado, Ford, Shawn Fain, walkouts, Bill Ford, Tesla, Nathan Gomes, Anil D'Silva Organizations: New York, REUTERS, Ford, GM, UAW, Canadian, Chrysler, EV, Thomson Locations: Manhattan , New York City, U.S, United States, Michigan, Bengaluru

☆ EVs struggle with reliability due to charging, battery issues - Consumer Reports survey
▼ + stars: | 2023-11-29 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

On average, new EVs had 79% more problems than gasoline-powered vehicles, Consumer Reports' 2023 Annual Auto Reliability survey showed. "For the legacy automakers, (EVs) are really new technologies, so they don't have a lot of experience with batteries, charging and motors." Jake Fisher, senior director of Auto Testing at Consumer Reports, said in an interview with Reuters. Consumer Reports survey covers 20 problem areas including engine, electric motors, transmission and in-car electronics. "Even with monumental shifts in the auto marketplace, what matters most to consumers remains the same: finding safe, reliable cars," said Marta Tellado, President and CEO of Consumer Reports.

Persons: Albert Gea, Jake Fisher, Fisher, Elon, Stellantis, Marta Tellado, Nathan Gomes, Shweta Agarwal Organizations: REUTERS, Electric, Consumer, Auto Testing, Reuters, U.S, General Motors, Buick, Benz, Chrysler, Lexus, Toyota, Thomson Locations: Barcelona, Spain, U.S, North America, Bengaluru

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