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☆ NAB delays RBA rate cut expectations to May 2025, sees soft landing for the Australian economy
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNAB delays RBA rate cut expectations to May 2025, sees soft landing for the Australian economyNAB's CFO Nathan Goonan expects only a marginal slowdown in business credit growth, telling CNBC that Australia is still on track to see solid growth in 2025.

Persons: Nathan Goonan Organizations: NAB, CNBC Locations: Australia

☆ A string of failures ended with 2 Navy SEALs drowning on a dangerous mission to intercept smuggled weapons, investigation finds
▼ + stars: | 2024-10-11 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Two US Navy SEALs drowned during a January raid on a vessel smuggling weapons to the Houthis. A new investigation outlines a string of failures that led to that fatal outcome. AdvertisementTwo US Navy SEALs drowned during a raid to intercept smuggled weapons off the coast of Somalia earlier this year. An investigation found that their deaths were preventable and were ultimately caused by a string of failures in the lead-up to the dangerous mission. Their names were redacted in the investigation, but the Navy has already identified them as the two SEALs who died.

Persons: —, Christopher Chambers, Nathan Gage Ingram, Adm, George M, Lewis B, Puller, Chambers, Ingram, Michael Kurilla Organizations: US Navy, Service, US Naval Forces Central Command, Command, US, Navy, Special Warfare, Warfare, Tactical Locations: Somalia, Iran, Yemen, Gulf of Aden

☆ Megan Ellison, the award-winning daughter of billionaire Larry Ellison, has a headache on her hands
▼ + stars: | 2024-09-14 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +2 min

Read previewMegan Ellison's award-winning video game company has a problem: Nobody wants to work there. Ellison is the daughter of Larry Ellison, the billionaire cofounder of the world's third-largest software company, Oracle. Megan Ellison founded her film studio, Annapurna Studios, in 2011, later adding Annapurna Interactive, the company's gaming division, in 2016. The company told Bloomberg that it explored the idea of a "spinoff" company, but could not reach an agreement. "Our top priority is continuing to support our developer and publishing partners during this transition," Ellison told the outlet.

Persons: —, Megan Ellison's, Ellison, Larry Ellison, Megan Ellison, Edith Finch, Nathan Gary —, Gary, Deborah Mars, Nathan Vella, Annapurna, Hector Sanchez, We're Organizations: Service, Oracle, Annapurna Studios, Annapurna Interactive, Business, Bloomberg, Annapurna, Hollywood, Epic

☆ Navy SEALs dropped in on a nuclear-powered submarine in the Pacific, drilling for a higher-end fight
▼ + stars: | 2024-08-11 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

AdvertisementWest Coast-based Naval Special Warfare (NSW) operators assemble a combatant rubber raiding craft near the Los Angeles-class fast-attack submarine USS Greeneville (SSN 772). West Coast-based Naval Special Warfare (NSW) operators conduct military dive operations and prepare to board the Los Angeles-class fast-attack submarine USS Greeneville (SSN 772). AdvertisementA West Coast-based Naval Special Warfare (NSW) operator climbs aboard the Los Angeles-class fast-attack submarine USS Greeneville (SSN 772). West Coast-based Naval Special Warfare (NSW) operators maneuver a combatant rubber raiding craft and board the Los Angeles-class fast-attack submarine USS Greeneville (SSN 772). In January, Navy Special Warfare Operator 2nd Class Nathan Gage Ingram showed how seriously SEALs take this when he jumped into the dark waters of the Arabian Sea after his teammate, Navy Special Warfare Operator 1st Class Christopher J.

Persons: —, Alex Perlman, Kenneth Douglas, Alex, Blake L, Chaney, We've, GWOT, that's, Alex Smedegard Frogmen, Nathan Gage Ingram, Christopher J, Chambers, frogmen Organizations: Service, Warfare, Navy, Craft, Business, West Coast, Los, Submarine Squadron, Special Warfare, Big Navy, Army Green Berets, Marine Raiders, Recon Marines Locations: China, Russia, Beijing, Moscow, Los Angeles, Greeneville, West Coast, NSW, Angeles, Virginia, Coast, Makin

☆ These stocks are the most hated on the Street, but their fundamentals are improving
▼ + stars: | 2024-05-31 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Some stocks on Wall Street are absolutely hated by analysts and investors, but their fundamentals are improving, leaving a potential buying opportunity for contrarian investors, according to UBS. Most analysts currently covering the stock have assigned it a hold rating, with predicted upside of about 16% to consensus price targets. "The iconic automaker continues to enjoy strong profits from its core markets and a policy driven investment cycle in the U.S," the analyst wrote. Most analysts have assigned Airbnb stock a hold rating. The analyst consensus has shares at a hold rating, with predictions suggesting the stock could rise an average of 26% from its Thursday close.

Persons: Jonathan Golub, Bernstein, Daniel Roeska's, Wedbush, Scott Devitt, Ben Chaiken, Jan, Chaiken, Clorox, Estee Lauder, — CNBC's Michael Bloom Organizations: UBS, Stocks, Wall, Ford Motor, Ford, Cruise, Mizuho, Pfizer, Gartner, Northern Trust

But while the company's profile in the industry has stayed constant and swaggering, behind the curtain, its business has been increasingly troubled, 10 insiders told Business Insider. Creator economy professionals mingled beneath glowing jellyfish and coral light fixtures inside Jellysmack's creator lounge during VidCon 2023. "As a startup in the ever-evolving creator economy, we are constantly testing and adapting our business model," the Jellysmack spokesperson told BI in a statement. Advertisement"The world was falling apart with the pandemic, but early Jellysmack felt like a dream," the second former staffer told BI. BI viewed two Jellysmack contracts and an email exchange between Jellysmack and one of its creator clients to verify the practice.

Persons: —, SoftBank, lanyards, Jellymack, Jellysmack, YouTubers, Brad Mondo, Meta, Michael Philippe, Jellysmack cofounders Swann Maizil, Robin Sabban, Nathan Guetta, Condé Nast, Youri Hazanov, Sean Atkins, hasn't, Snapchat —, Amanda Perelli, JellyFi, deprioritize, that's, it's, Ollie Forsyth, They've Organizations: Service, Business, Facebook, influencers, BI, YouTube, Disney, Comcast, Keli, Big Tech, cryptocurrency, MTV, HBO, Copyright Capital, SoftBank, Productions, OKA Media, Network Media LLC, Crime, Star, Spotify, Crime Network Locations: VidCon, SoftBank

☆ Tech: Big inflows with one exception
▼ + stars: | 2024-05-06 | 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 EmailTech: Big inflows with one exceptionNathan Geraci, The ETF Store President, joins CNBC’s Bob Pisani on ETF Edge to discuss the big inflows into tech

Persons: Nathan Geraci, Bob Pisani Organizations: Email Tech, Edge

☆ A high-powered NYC lawyer is suing his ex for custody of their poodle and $208K, saying the pet is 'more than a dog' to him
▼ + stars: | 2024-04-25 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

A New York City lawyer is suing his ex-boyfriend, also a lawyer, for custody of a miniature poodle. The couple purchased the dog — Raven — together in 2020, but broke up last month. Taylor Leighton, who called the dog his 'child,' is also seeking more than $200,000 in damages. AdvertisementA New York lawyer is suing his former boyfriend, also a lawyer, for custody of their miniature poodle and more than $200,000 in damages, according to an affidavit published by the Daily Beast. AdvertisementIn the affidavit, Leighton argued that although Nathan Greess contributed $2,000 toward the purchase, it was only because he owed money for household expenses.

Persons: —, Taylor Leighton, Akin Gump Strauss Hauer, Feld, Countess Raven, Raven, Luann, Leighton, Nathan Greess Organizations: Service, Daily, Feld LLP, Housewives, New, Scripps News Locations: York City, York, Minnesota, New York City, Raven

☆ 2024 Review: Oscars hits and misses including best moments, performances and speeches
▼ + stars: | 2024-03-10 | by ( Brian Lowry | ) edition.cnn.com time to read: +7 min

The Oscars faced the double whammy of starting an hour earlier and the switch to Daylight Savings Time. Video Ad Feedback See who Host Jimmy Kimmel thanked in his opening monologue at the Academy Awards 01:04 - Source: CNNBrevity (relatively, anyway). A clip of late Russian opposition leader Alexey Navalny is played onstage during the 96th Annual Academy Awards in Hollywood, California on March 10, 2024. Even with “Oppenheimer” nearly blotting out the sun, seven of the 10 best-picture nominees went home with at least something, with “Maestro,” “Past Lives” and “Killers of the Flower Moon” being the three that left empty-handed. Becky G performs during the 96th Academy Awards.

Persons: Ryan Gosling’s, “ Oppenheimer, ”, Christopher Nolan’s, Emma Stone, Lily Gladstone, Jessica Lange, Michelle Yeoh, Charlize, Theron, Jennifer Lawrence, Sally Field, Richard Harbaugh, A.M.P.A.S, Joy Randolph, He’s, Ken, Ryan Gosling, “ I’m, Ken ”, Emily Blunt, Barbie, Gosling, Jimmy Kimmel, Kimmel, helpfully, Alexey Navalny, Patrick T, Fallon, Jonathan Glazer’s, Mstyslav, Sen, Katie Britt, Donald Trump’s, “ Maestro, Hayao Miyazaki’s, John Cena’s, Becky G, Stewart Cook, Arnold Schwarzenegger, Danny DeVito, Michael Keaton Organizations: CNN, Savings, International Alliance, Alliance, Television Producers, Getty Locations: Hollywood , California, AFP, Gaza, Russian, Mariupol, Ukraine

☆ How, when and where you can watch the 2024 Oscars
▼ + stars: | 2024-03-09 | by ( Tom Page | ) edition.cnn.com time to read: +6 min

Yes, it’s Oscars weekend. Comparisons are already being made to 1998 and 2004, when “Titanic” and “The Return of the King” steamrolled their respective competition on their way to a record 11 Oscars each. Emily Blunt (as Kitty Oppenheimer) with writer, director, and producer Christopher Nolan and Cillian Murphy (as J. Robert Oppenheimer) on the set of "Oppenheimer." The host and presentersJimmy Kimmel on stage at the Oscars in 2023. Gladstone and Stone split the Golden Globes, Stone won the BAFTA and Glastone won the SAG award, leaving this contest finely poised.

Persons: CNN —, “ Oppenheimer, ”, Christopher Nolan’s, Emily Blunt, Kitty Oppenheimer, Christopher Nolan, Cillian Murphy, Robert Oppenheimer, Oppenheimer, Melinda Sue Gordon, We’ll, “ Oppenheimer ”, Jimmy Kimmel, Kevin Winter, Steven Spielberg, Sally Field, Jennifer Lawrence, Dwayne Johnson, Rita Moreno, Al Pacino, Zendaya, Michelle Pfeiffer, Ryan Gosling, Margot Robbie, Greta Gerwig, Barbie, Jaap Buitendijk, “ Barbie, I’m, Ken ”, Billie Eilish, Jon Batiste, Becky G, Scott George, Emma Stone, Nolan, Oscar, Da’Vine Joy Randolph, Alexander Payne’s “, Robert Downey Jr, Lewis Stauss, Jonathan Glazer’s, Justine Triet’s Palme, Anatomy’s, Sandra Hüller, Lily Gladstone, Gladstone, Stone, Glastone, JaNae Collins, Cara Jade Myers, Jillian Dion, It’d, Martin Scorsese, Miyazaki, ” Steven Spielberg Organizations: CNN, Hollywood, Universal, ABC, Hulu Live, Warner Bros . Pictures, Osage, Searchlight Pictures, Globes, BAFTA, SAG, Apple, Sony Locations: “, Poland, France

WASHINGTON (AP) — U.S. officials are revising their preliminary findings on what happened to two Navy SEALs who died during a mission to board an unflagged ship that was carrying illicit Iranian-made weapons to Yemen. Based on further review and interviews with personnel involved in the operations, U.S. officials said Wednesday that Navy Special Warfare Operator 1st Class Christopher J. In a statement, Naval Special Warfare Command said that an investigation is continuing to gather more information on what happened. Chambers, 37, of Maryland, enlisted in the Navy in 2012 and graduated from SEAL training in 2014. Ingram, 27, of Texas, enlisted in 2019 and graduated from SEAL training in 2021.

Persons: Christopher J, Chambers, Nathan Gage Ingram, Ingram Organizations: WASHINGTON, —, Navy, Special Warfare Command, Navy’s Locations: Yemen, U.S, Chambers, Maryland, Texas

☆ US identifies 2 Navy SEALs declared dead after operation off Somali coast
▼ + stars: | 2024-01-22 | by ( Haley Britzky | ) edition.cnn.com time to read: +3 min

CNN —The two Navy SEALs who the US Navy declared dead after they went missing while conducting an operation on January 11 off the coast of Somalia have been identified as Navy Special Warfare Operator 1st Class Christopher Chambers who was 37 and Navy Special Warfare Operator 2nd Class Nathan Gage Ingram who was 27, the US Navy announced Monday. Blake Chaney, commander of Naval Special Warfare Group 1, said in a statement that Chambers and Ingram “were exceptional warriors, cherished teammates, and dear friends to many.”“Chris and Gage selflessly served their country with unwavering professionalism and exceptional capabilities,” Chaney said. According to biographies provided by Naval Special Warfare Command, Chambers, from Maryland, enlisted in the Navy in May 2012 and had served with SEAL units on the West Coast since 2014. Ingram, from Texas, enlisted in September 2019, immediately going into pre-special warfare training after completing boot camp at Recruit Training Command Great Lakes, Illinois. “During this expansive search operation, airborne and naval platforms from the US, Japan, and Spain continuously searched more than 21,000 square miles to locate our missing teammates.

Persons: Christopher Chambers, Nathan Gage Ingram, Capt, Blake Chaney, Chambers, Ingram “, ” “ Chris, Gage selflessly, ” Chaney, Ingram, CENTCOM, ” CNN’s Natasha Bertrand Organizations: CNN, Navy, US Navy, Special Warfare, NSW, Warfare, Central Command, US, Special Warfare Command, Marine, Recruit Training Command, Terrorism, Medal, National Defense Service, Numerical Meteorology, Oceanography Center, U.S . Coast Guard Atlantic Area Command, University of San, Oceanography, Naval Research Locations: Somalia, West Coast, Iran, Yemen, Maryland, Texas, Lakes , Illinois, Japan, Spain, University of San Diego

☆ Pentagon Names Two SEALs Lost in Raid in Arabian Sea
▼ + stars: | 2024-01-22 | by ( Dave Philipps | More About Dave Philipps | ) www.nytimes.com time to read: +1 min

The Defense Department identified on Monday the two Navy SEALs who were lost at sea and died this month during a nighttime commando raid on a small ship carrying weapons components bound for Yemen. Active-duty and veteran SEALs said it appeared that the men might have sunk quickly before they could be rescued, and that the circumstances of their deaths raised questions about the planning and conduct of the raid. Special Operator First Class Christopher J. Chambers, 37, and Special Operator Second Class Nathan Gage Ingram, 27, were lost on Jan. 11 when SEALs in two stealthy combat speedboats, shadowed by helicopters and drones, boarded a dhow, a type of small wooden cargo ship, in the Arabian Sea off the coast of Somalia. Both SEALs were quickly lost in the waves.

Persons: Christopher J, Chambers, Nathan Gage Ingram Organizations: Defense Department, Navy Locations: Yemen, Somalia

As he went under, Navy Special Warfare Operator 1st Class Christopher J. Blake Chaney, commander of Naval Special Warfare Group 1, which oversees SEAL Team 3. They loaded onto small special operations combat craft driven by naval special warfare crew to get to the boat. Chambers, 37, of Maryland, enlisted in the Navy in 2012, and graduated from SEAL training in 2014. Ingram, 27, of Texas, enlisted in 2019, and graduated from SEAL training in 2021.

Persons: Nathan Gage Ingram, Christopher J, Chambers, Chris, Gage selflessly, ”, Blake Chaney, Joe Biden, “ Jill, USS Lewis B, Puller, Ingram, Chaney Organizations: WASHINGTON, —, Navy's, Navy, Special Warfare, NSW, White, — Navy, ”, USS, Central Command, U.S . Navy, Warfare, Marine Locations: Somalia, Yemen, Gulf of Aden, Gaza, East Africa, Iran, West Coast, Maryland, Texas

☆ 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

☆ Explainer: GM-owned Cruise's wrong turn could slow robotaxi push
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +3 min

Robotaxis are autonomous self-driving cabs which require no human interaction to operate the vehicle. When did driverless cabs become a reality? Cruise followed with its first driverless ride service last year in San Francisco, and slowly expanded to include Phoenix, Arizona, and Austin, Texas. The use of driverless cabs also raises the prospect of job losses and could attract pushback from unions. Regulatory hurdles facing robotaxisCommercializing fully autonomous vehicles, especially robotaxis, has been harder than expected with tough regulations, complicated technology and heavy investments forcing some to cut jobs.

Persons: Elijah Nouvelage, Cruise, Here's, Waymo, Nathan Gomes, Devika Organizations: San, GM Bolt, REUTERS, General Motors, Companies, Technologies, Amazon.com, Ford, Volkswagen, Argo, Thomson Locations: San Francisco, San Francisco , California, U.S, United States, Phoenix , Arizona, Austin , Texas, Bengaluru

☆ Keysight Technologies beats quarterly profit estimates
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

Nov 20 (Reuters) - Keysight Technologies (KEYS.N) beat market estimates for fourth-quarter profit on Monday, as the electronic equipment maker continued to benefit from steady demand in segments such aerospace and defense. Keysight provides electronic design and test products such as oscilloscopes, network emulators and software that are used in aerospace and defense industries, including electromagnetic spectrum operations, radar, signal monitoring, space, satellite, commercial and military aircraft. The company said it saw a 4% rise in revenue from segments aerospace, defense and government, aided by investments in defense technology modernization, electromagnetic spectrum operations, radar and space and satellite. California-based Keysight forecast its first-quarter 2024 adjusted profit to be between $1.53 and $1.59 per share, compared with LSEG estimates of $1.68 per share. Reporting by Priyamvada C and Nathan Gomes in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Priyamvada C, Nathan Gomes, Shilpi Majumdar Organizations: Keysight Technologies, Thomson Locations: California, Bengaluru

☆ Stellantis workers vote to ratify new labor contract
▼ + stars: | 2023-11-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

People attend a Stellantis presentation at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsWASHINGTON, Nov 17 - United Auto Workers (UAW) members at Chrysler parent Stellantis NV (STLAM.MI) have voted to ratify tentative record-setting labor deal, the union's vote tracker showed on Friday. The contract also hikes wages of current temporary workers by 150% by 2028 and will make them permanent employees. Workers on Thursday at General Motors (GM.N) voted to approve the deal, with about 55% of nearly 36,000 members in favor. Another 2,500 Stellantis U.S. salaried workers are unionized and are not being offered the current buyout.

Persons: David, Dee, Delgado, Stellantis, David Shepardson, Nathan Gomes, Arun Koyyur, Nick Zieminski, Jonathan Oatis Organizations: New York, REUTERS, Rights, United Auto Workers, UAW, Chrysler, Stellantis, Detroit Three, Workers, General Motors, Ford, Thomson Locations: Manhattan , New York City, U.S, Washington, Bengaluru

☆ Hyundai unveils its first high-performance electric car
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 15 (Reuters) - Hyundai Motor (005380.KS) unveiled its first high-performance electric vehicle(EV), an N sport variant of its IONIQ 5 crossover SUV. The N brand is the company's high-performance brand, akin to AMG for the Mercedes and the M lineup for the BMW. The IONIQ's N variant will be powered by dual motors producing 641 horsepower, nearly double the output of the most powerful variant of the standard outgoing model. Hyundai unveiled the performance EV in Los Angeles on Wednesday, ahead of the Los Angeles Auto Show opening on Friday.

Persons: Andrew Kelly, Nathan Gomes, Tasim Zahid Organizations: Hyundai Motor, New York, REUTERS, Hyundai, South, AMG, Mercedes, BMW, Los Angeles Auto, Audi, Porsche, Dodge, EV, Thomson Locations: Manhattan , New York City, U.S, Los Angeles, Bengaluru

Service centers - facilities that play a crucial role in supplying manufacturing companies nearly finished steel products - had paused purchases ahead of the United Auto Workers (UAW) union's coordinated strike against the Detroit automakers. However, many of them were soon forced to place large orders as stocks ran low and operations resumed at the carmakers. Reuters Graphics Reuters GraphicsThe automotive segment makes up about 25% of the total U.S. sheet demand, with about 65% of that attributable to the Big Three Detroit automakers in any given year, CRU data showed. Nucor Corp (NUE.N) has raised HRC prices to $950/st while U.S. Steel (X.N) recently announced a $100/st price increase, without specifying a final rate. Meanwhile, automakers stare at higher costs for a key raw material if prices extend their upward trajectory for longer.

Persons: union's, Ryan McKinley, Morgan, Philip Gibbs, Gordon Lee Johnson, Ananta Agarwal, Nathan Gomes, Arpan Varghese, Sriraj Organizations: Detroit Three, CRU Group . Service, United Auto Workers, UAW, Detroit, CRU, Reuters Graphics Reuters, Big Three Detroit, Cleveland Cliffs, HRC, Nucor Corp, U.S . Steel, KeyBanc, GLJ Research, Thomson Locations: Bengaluru

☆ ‘Unusual environment’: ETF experts see rare circumstance for growth vs. value trade
▼ + stars: | 2023-11-15 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

Value exchange-traded funds have lagged growth in 2023 due to an unusual circumstance unfolding in the market, according to two experts. As of Tuesday's close, the iShares S&P 500 Growth ETF (IVW) has gained 22.84% this year. The iShares S&P 500 Value ETF (IVE) is up 11.27% in the same period. The IVE value ETF fell 7.38% last year, while the IVW growth ETF dropped 30.08%. "If you think about this, that's a really tough pill to swallow for value investors after it appeared value was turning the corner in 2022 following years of underperformance," he added.

Persons: Tom Hancock, Bob Pisani, Nathan Geraci, Geraci, Hancock Organizations: Quality, Big Locations: CNBC's

☆ UAW workers at GM's Spring Hill plant vote against tentative deal
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

An independent contractor hauls vehicles made at the Spring Hill General Motors (GM) manufacturing plant as Union members picket General Motors (GM) in the midst of a tentative deal being reached with the United Auto Workers (UAW), which expanded its strike over the weekend to the General Motors (GM) engine plant in Spring Hill,... Acquire Licensing Rights Read moreNov 14 (Reuters) - Workers belonging to the United Auto Workers (UAW) union at General Motors' (GM.N) Spring Hill plant in Tennessee have voted against a proposed contract with the automaker, the union's vote tracker showed on Tuesday. The Spring Hill manufacturing plant employs 3,932 workers and makes the company's SUV models such as Cadillac XT5 and XT6. Union workers are voting on contracts from each of Chrysler-owner Stellantis (STLAM.MI), General Motors (GM.N) and Ford Motor (F.N), after the first coordinated strike against Detroit's Big Three automakers. GM in October also pulled its full-year profit forecast due to the strike and postponed a $4 billion electric truck plant in Michigan. Reporting by Nathan Gomes in Bengaluru; Editing by Sriraj Kalluvila and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Stellantis, Tesla, Nathan Gomes, Sriraj Kalluvila Organizations: General Motors, United Auto Workers, UAW, Workers, Chrysler, Ford, Detroit's Big, GM, Thomson Locations: Spring Hill, Tennessee, XT6, Michigan, Bengaluru

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