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☆ Company executives are speaking out on Election Day: Starbucks' Howard Schultz calls for a peaceful transition of power
▼ + stars: | 2024-11-05 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +9 min

Business leaders are speaking out on Election Day — including Starbucks founder Howard Schultz. AdvertisementElection Day has finally come, and executives at some of the biggest companies are speaking out — with former Starbucks CEO Howard Schultz urging a peaceful transition of power and Elon Musk reiterating his support for Donald Trump to the end. Major players like Musk and Blackstone CEO Stephen Schwarzman have previously endorsed former President Trump. "Once every vote is counted and certified, we must accept the results of the election and ensure the peaceful transition of power," he said. In addition to re-posting several pro-Trump messages from other X users, Musk wrote a few election-related posts of his own.

Persons: Howard Schultz, Schultz, Elon Musk, Reid Hoffman, Harris, —, Donald Trump, Stephen Schwarzman, Trump, Mark Cuban, Kamala Harris, Insider's Bryan Metzger, he's, Howard Schultz Howard Schultz, Spencer Platt, Joe Biden, Hillary Clinton, Reid Hoffman Reid Hoffman, Kimberly White, Hoffman, " Hoffman, Marc Piasecki, Musk, Joe Scarborough, Vinod Khosla Vinod Khosla, Steven Ferdman, Vinod Khosla, Kamala, Khosla, Robert F, Kennedy Jr, Cantor Fitzgerald, Howard Lutnick Howard Lutnick, ANGELA WEISS, Howard Lutnick, Lutnick, Palmer Luckey Palmer Luckey, Oculus, Patrick T, Fallon, Palmer, Luckey, Walz, Andrew Bosworth, JOSH EDELSON, Getty Andrew Bosworth, Bosworth, Eli Lilly, Lockheed Martin, General Mills, Johnson Organizations: Starbucks, Trump, Service, Blackstone, Getty, LinkedIn, Greylock Partners, Liberty, SpaceX, Elon Musk Elon, Tesla, Pennsylvania, Billionaire, Sun Microsystems, Wall Street, Philadelphia Inquirer, Financial Times, Bloomberg, Anduril Industries, Meta, Big Tech, National Association of Manufacturers, General Motors, Penske, Panasonic Locations: Jerusalem, Fortnite, AFP

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Persons: it's, Braun, we've, Pricey Braun, Gillette, Heusen, Anne Klein Organizations: Business, Amazon, Braun, Mower, Panasonic, Sports

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Persons: Dyson, we've, Rose, Skip, Braun, Gillette, shea, Heusen, Anne Klein, It's, you've Organizations: Business, Amazon, REVLON, Revlon, Gillette Venus Womens, Panasonic, PURA, Pura, palmetto, Amazon St, St, Sports Locations: Tropez

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Persons: Matte, Slim, It's Organizations: Business, Deal, Samsung, LG, Buyers, Shoppers, Fire, Alexa, Samsung S95D, Dolby, Sony, Panasonic, Toshiba

☆ Google backs a startup that aims to bring mixed reality to any car windshield or plane cockpit
▼ + stars: | 2024-09-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Distance TechnologiesDistance Technologies, a Finnish startup that aims to bring mixed-reality technology to any car windshield or plane cockpit, has raised 10 million euros ($11.1 million) of funding from GV, the venture capital arm of Alphabet and other investors. Distance raised the cash injection in a seed round led by GV, with existing investors FOV Ventures and Maki.vc also stumping up more cash for the startup, the company told CNBC on Thursday. Konttori was formerly chief technology officer of Varjo, another Helsinki-based mixed-reality firm. "The main difference here is that we are driven by the software," Mäkinen told CNBC. For now, Distance has had to use simple optics and normal LCD displays to demonstrate its technology to prospective partners and investors.

Persons: Maki.vc, Konttori, Roni Hiranand, Meta, Jussi Mäkinen, Mäkinen, he's Organizations: Technologies, GV, FOV Ventures, CNBC, Helsinki, Google Ventures, Companies, Huawei, Bosch, Continental, Panasonic, Distance Technologies Locations: Finnish, Helsinki, China

☆ Goldman names its top global battery stocks — giving 2 over 50% upside
▼ + stars: | 2024-09-25 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

CATL Goldman is buy-rated on Chinese battery maker Contemporary Amperex Technology Co, or CATL. The company — which has a global market share of 40% — "is the largest and most innovative battery maker globally," the bank's analysts wrote. Goldman has a price target of 307 Chinese yuan ($43.65) on the stock, giving it potential upside of around 55%. Gotion Another Shenzhen-listed Chinese stock Goldman likes is Gotion High Tech . Goldman has a buy rating on Gotion at a price target of 31.40 Chinese yuan, giving it potential upside of around 66.4%.

Persons: Goldman Sachs, — CATL, CATL Goldman, CATL, Goldman, — CNBC's Michael Bloom Organizations: LG Energy, Panasonic, Samsung SDI, Amperex Technology Co, Shenzhen Stock Exchange, Battery Technology, China Clean Technology, High Tech Locations: China, Gotion, Shenzhen

☆ SpaceX Starlink has 2,500 airplanes under contract after United megadeal, director says
▼ + stars: | 2024-09-17 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

A Starlink terminal installed on a Hawaiian Airlines aircraft. Hawaiian AirlinesPARIS — SpaceX nearly doubled its backlog of Starlink in-flight Wi-Fi orders with last week's United Airlines deal, a company director said Tuesday. Last week, United said it will outfit its more than 1,000 planes with Starlink and won't charge customers for the Wi-Fi. SpaceX has previously announced in-flight deals and has started service with Hawaiian Airlines , Qatar Airways, Japan's Zipair, Latvia's airBaltic and semi-private charter airline JSX. Nick Galano, SpaceX director of Starlink Aviation Sales and Partnerships, center, speaks at the World Space Business Week conference in Paris on Sept. 17, 2024.

Persons: Nick Galano, United, Gogo, Japan's, Latvia's, Galano, SpaceX, Michael Sheetz Galano, Glenn Latta, Latta, We've Organizations: Hawaiian Airlines aircraft, Hawaiian Airlines PARIS, SpaceX, United Airlines, IFC, Starlink's, Viasat, Panasonic, Thales, Hawaiian Airlines, Qatar Airways, Starlink Aviation, CNBC, Delta Air Lines, Delta Locations: Paris, United

☆ United Airlines to offer free Wi-Fi using Starlink from Elon Musk's SpaceX
▼ + stars: | 2024-09-13 | by ( Leslie Josephs | Michael Sheetz | ) www.nbcnews.com time to read: +2 min

United Airlines said Friday that it plans to offer inflight Wi-Fi for free using Starlink from Elon Musk’s SpaceX on its hundreds of jetliners, the biggest inflight internet deal yet for the satellite service provider. The team-up comes as airlines have been investing in faster inflight Wi-Fi, sometimes offering it for free, in a bid to attract higher-paying customers like business travelers. Delta Air Lines announced in early 2023 that onboard internet would be free for members of its SkyMiles loyalty program. Hawaiian Airlines, which has a deal with Starlink, also offers complimentary inflight Wi-Fi. JetBlue Airways has offered free Wi-Fi for years.

Persons: United Organizations: Airlines, Elon Musk’s SpaceX, Delta Air Lines, Hawaiian Airlines, Starlink, Fi, JetBlue Airways, SpaceX, JSX, United, ViaSat, Panasonic, U.S, Atlantic, Pacific

United Airlines said Friday that it plans to offer inflight Wi-Fi from SpaceX's Starlink for free on its hundreds of jetliners, the biggest inflight internet deal yet for the SpaceX business. The team-up comes as airlines have been investing in faster inflight Wi-Fi, sometimes offering it for free, in a bid to attract higher paying customers like business travelers. Delta Air Lines announced in early 2023 that onboard internet would be free for members of its SkyMiles loyalty program. Hawaiian Airlines , which has a deal with Starlink, also offers complimentary inflight Wi-Fi. JetBlue Airways has offered free Wi-Fi for years.

Persons: United Organizations: Airlines, SpaceX, Delta Air Lines, Hawaiian Airlines, Starlink, Fi, JetBlue Airways, JSX, United, ViaSat, Panasonic, U.S, Atlantic, Pacific

How to stream NFL games without cableBelow, we'll dive deeper into all your NFL streaming options. We'll show you how to watch Thursday Night Football, Monday Night Football, Sunday Night Football, and more, whether you want an all-inclusive streaming service or cheaper monthly subscriptions. What you get:Local games on FoxLocal games on CBSSunday Night Football on NBCMonday Night Football on ESPNNFL Network gamesWhat you don't get:Thursday Night Football gamesOut-of-market games**Out-of-market games are available with the NFL Sunday Ticket package. What you get:Thursday Night Football gamesExclusive Wild Card game in January 2025What you don't get:Local games on CBSLocal games on FoxMonday Night Football on ESPNSunday Night Football games on NBCNFL Network gamesOut-of-market Sunday afternoon gamesNFL+NFL+ Subscription NFL Plus lets you stream live games to your phone or mobile device, and watch on-demand content from NFL Films and the NFL Network. The platform will let you watch local and primetime broadcast games (regular and postseason), NFL Network games, and out-of-market preseason games.

Persons: we've, Hulu's, Peacock, Al Michaels, Kirk Herbstreit, Kaylee, There's, DAZN, Flatenna, ExpressVPN, you'll Organizations: Business, NFL, Super, Football, TV, NFL Network, Fox, NBC, ESPN, CBS, Sling, ESPN NFL Network, Fubo, Hulu, Fox Local, Disney Plus, Disney, YouTube, NFL Redzone, Sports, NFL Sunday, Sunday, CBS Local, Fox Monday, Paramount, Nickelodeon, Comedy Central, BET, MTV, Showtime, Fox Sunday, Amazon, Amazon Prime, Thursday, ESPN Sunday Night, NBC NFL Network, NFL Films, NFL RedZone, MLB, NHL, UFC, ESPN ESPN, Jets, 49ers, Bengals, Seahawks, Lions, Ravens, Buccaneers, Chargers, Cardinals, Giants, Steelers, Cowboys, Bears, Apple, Android, Smart, Sony, LG, Panasonic, PlayStation, Xbox, Night Football NFL Network, Twitch Locations: United States, China, United Kingdom, Canada, Australia, AWST

☆ Small caps are finally getting their moment in the sun. Here's why managers think the rally can last
▼ + stars: | 2024-07-25 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Instead, small caps spent the first half of this year doing what they've been doing for the last decade: falling behind. The Russell 2000 Value was up 10%, while the Russell 2000 having gained 11%. A sustainable rally Small caps have underperformed for roughly the last decade, but they've typically done better historically. Meanwhile, Teton Westwood's Galluccio thinks it can last much longer: "I think small caps stand to outperform for the next three years." "The last decade was the first time in many, many years when small caps underperformed, leading the talking heads to say that quality, quality, quality is large-cap growth.

Persons: Jerome Powell, they've, Russell, Nicholas Galluccio, It's, You've, I've, Mike Rode, Rode, Galluccio Organizations: Federal, TW Smallcap Equity, Fama, Investments, Panasonic, LSEG Locations: Fama French, De Soto , Kansas

☆ Japan’s aging society is transforming the baby care business.
▼ + stars: | 2024-07-05 | by ( Rosa Deacostanoya | Rosa De Acosta | ) edition.cnn.com time to read: +4 min

Last year, almost 30% of the Japanese population was 65 or older. In June 2023, Japanese Prime Minister Fumio Kishida unveiled a multi-billion dollar package of measures to encourage families to have more children. The growth of the older population is also changing the consumer product market. Demand for adult diapers in Japan has been rising, while the need for baby diapers has fallen. Electronics giant Panasonic has been researching and developing products aimed at the older population since 1990, according to its website.

Persons: Fumio Kishida Organizations: Hong Kong CNN, United Nations, UN, Euromonitor, Oji Holdings, Electronics, Panasonic, Ministry of, Hong, Seniors Locations: Hong Kong, Japan, China, Indonesia, Malaysia, Asia, South Korea, Taiwan, Africa, Europe, Northern America, America, Caribbean, Northern Africa, Western Asia, Saharan Africa

☆ New airplane business class seat design has huge 45-inch TV screen
▼ + stars: | 2024-06-04 | by ( Francesca Street | ) edition.cnn.com time to read: +3 min

The two aviation powerhouses recently joined forces to reimagine the future of airplane TV and movie-viewing, via a swanky concept called MAYA. MAYA, which stands for “Most Advanced Yet Achievable,” is an ergonomic business class seat that comes equipped with an Astrova Curve 45-inch ultra-wide, ultra-high-definition OLED display. Collins Aerospace/Panasonic AvionicsThe screen syncs up with passengers’ personal devices, offering an impressive headphone-less audio system. Collins Aerospace/Panasonic AvionicsNot only is MAYA’s curved screen three times larger than classic business class seat options, Panasonic also envisages the seat offering an Ultra-Widescreen CinemaScope (21:9) display – a screen format more commonly found in cinemas. With that in mind, Masson calls the screen the “cinematic centerpiece” of MAYA’s design, but stresses the screen’s not only designed for movies.

Persons: you’ve, Andrew Masson, ” Collins, Masson, “, ” Organizations: CNN, Collins Aerospace, Panasonic, Panasonic Avionics, Aircraft Interiors, AIX, CNN Travel Locations: Hamburg, Germany

☆ U.S. tariff hikes on China EVs will benefit these global stocks, Bernstein says
▼ + stars: | 2024-05-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

On top of that, the Inflation Reduction Act (IRA) subsidies to reshore the battery supply chain to the U.S. are also "having the desired impact," it added. It named companies such as LG Energy Solution and Samsung SDI which have more than 65% of U.S. battery manufacturing capacity. LG Energy Solution has the additional benefit of being the most exposed to growth and IRA benefits, they added. But Bernstein said it prefers Samsung SDI to LG Energy Solution for now, as the former offers "growth at a reasonable price." Bernstein gave Samsung SDI and LG Chem an outperform rating and LG Energy Solution a market perform rating.

Persons: Bernstein, Freyr, — CNBC's Michael Bloom Organizations: U.S, LG Energy, Samsung SDI, LG Chem, Umicore, Basf, LG, Panasonic, Tesla, SolidEnergy Systems Locations: U.S, North America, decouple, China, South Korea, Europe

☆ The 4-day workweek could be here sooner than you think
▼ + stars: | 2024-03-30 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +9 min

AdvertisementThe much-coveted four-day workweek is back in the news this month after Sen. Bernie Sanders introduced new legislation and held a congressional hearing calling for a 32-hour national workweek. The buzz around a shorter workweek became a certified boom with the COVID-19 pandemic. AdvertisementThe four-day workweek has, in many ways, become shorthand for any shorter workweek, encompassing a wide variety of flexible schedules. Attracting top-tier employees is just one reason Dimitri Cavathas, CEO of Lower Shore Clinic, started considering a four-day workweek for his company. Lawmakers in several states have introduced legislation posing four-day workweek trials or research programs, including California, Massachusetts, Maryland, and Hawaii, though none have passed yet.

Persons: workweek, —, Sen, Bernie Sanders, Richard Nixon, Alex Soojung, Kim Pang, haven't, Pang, You've, Phil McParlane, McParlane, Getty, nix, Dimitri Cavathas, Cavathas, Paul Sancya Organizations: Service, Global, Panasonic, Lower Shore Clinic, United Auto Workers, AP, Fortune Locations: Scotland, Maryland, Greece, The Maryland, California , Massachusetts, Hawaii, US

☆ This new SUV’s stereo lets you make phone calls your passengers can’t hear
▼ + stars: | 2024-03-29 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

Only the driver can hear the call and the person on the other end of the call can’t hear the music playing in the SUV. That’s not a new idea, but headrest speakers are usually found in convertibles where music, phone calls and navigation instructions have to overcome buffeting wind noise. Meanwhile, the person on the other end of the phone call won’t hear the music at all. I could hear Dunn talking but the voice on the other end of the phone came through, at first, as just an intermittent quiet buzz. I could hear Dunn talking to me but not the music that was still playing in the car.

Persons: there’s, McIntosh, That’s, Gabby Jones, that’s, Tom Dunn, Dunn Organizations: New, New York CNN, Infiniti, Benz, Panasonic Automotive, New York, Bloomberg, Getty, Panasonic Locations: New York, Mercedes, Bentley, Manhattan

TOKYO (AP) — Japan has slipped to the world’s fourth-largest economy as government data released Thursday showed it fell behind the size of Germany's in 2023. Japan fell from the second-ranked economy behind the U.S. to the third-largest in 2010 as China's economy grew. The comparisons among nations’ economies look at nominal GDP, which doesn’t reflect some different national conditions, and is in dollar terms. Japan’s nominal GDP totaled $4.2 trillion last year, or about 591 trillion yen. The gap between developed countries and emerging nations is shrinking, with India certain to overtake Japan in nominal GDP in a few years, Okazaki said.

Persons: Germany’s, Japan’s, Tetsuji Okazaki, ”, Okazaki, Konosuke Matsushita, ___ Yuri Kageyama Organizations: TOKYO, —, Monetary Fund, Japan, University of Tokyo, Honda, Honda Motor Co, Panasonic Corp, Japan Inc Locations: — Japan, Japan, Germany, India, U.S

☆ Strong economic growth but high unemployment: A look at Nevada’s economy
▼ + stars: | 2024-02-08 | by ( Alicia Wallace | Tami Luhby | ) edition.cnn.com time to read: +13 min

In Las Vegas, the cacophony of voices, music, ringing slot machines and car horns that typically pulsed through the Las Vegas Strip was replaced by silence, the chirps of birds and the wails of sirens. In tourism-dependent Nevada, the unemployment rate rocketed even higher, topping out at 30.6% that month. “This is an unemployment rate that’s not driven by job losers, this is an unemployment rate driven by job seekers,” he said. Homes under construction in the Summerlin community, on July 31, 2023, in Las Vegas, Nevada. As of December 2023, the Reno metro area’s unemployment rate was just 0.2 percentage points above the nation’s 3.7% rate.

Persons: John Simpson, Steve, Sisolak, ” Simpson, It’s, ”, they’re, I’ve, Stephen M, Miller, Mario Tama, Bob Potts, there’s, There’s, Nevadans, Annie E, Casey Foundation’s, Jamelle Nance, Marty Elquist, ” Elquist, “, Andrew Woods, Nicholas Irwin, Start’s Simpson, Irwin, Ethan Miller, Maurice Page, Page, Tesla, ” Potts, Carolyn Cole, Potts, You’ve, you’ve Organizations: CNN, Las, Republican Party, of Labor Statistics, University of Nevada, Lee Business School’s Center for Business, Economic Research, New York, Nevada Governor’s, Economic, Las Vegas, New, Workforce, Children’s, Alliance of Nevada, Education, Development, Silver State, Center for Business, UNLV, Reno, ”, Homes, Nevada Housing Coalition, Harvard University’s, for Housing Studies, Silver, Means, Reno Industrial Park, Apple, Panasonic, Google, Reno Industrial, Los Angeles Times, NCAA, NFL, NFL Pro Bowl Locations: Nevada, Las Vegas, Reno, ” Nevada, State, New York, New, Las, New Mexico, Vegas, “ Nevada, Silver, UNLV . Nevada, California, Sparks, Las Vegas , Nevada, Florida, Hawaii, Clark County, Sparks , Nevada, New Orleans, Denver, Southern Nevada, Northern Nevada, Los Angeles

☆ A stripper and escort who caters to Wall Street clients says she has invested more than $57K in cosmetic treatments
▼ + stars: | 2024-02-05 | by ( Julia Naftulin | ) www.businessinsider.com time to read: +9 min

Mia Lee, a stripper and professional escort, has optimized her beauty routine so she can jam-pack her schedule with work. She doesn't worry about makeup, skincare, or her period due to procedures she's gotten over the years. She shared the beauty treatments, cosmetic procedures, and other products she's purchased over the past decade or so, which she views as career investments. Lee left her job as a forensic accountant on Wall Street making six figures to pursue working for herself as a professional escort and stripper. Lee said that the $8 purchase is meant to preserve her youthful visage and prolong the other facial treatments she's done.

Persons: Mia Lee, she's, Lee, —, Petit Mort, sweats, Penelope Dario Lee, hasn't, She's, Penelope Dario, Dysport, doesn't, Lee doesn't, Uber Organizations: Service, Wall Street, Business, YouTube, BI, Wall, grays, Panasonic Locations: Love

☆ Shares of Tesla suppliers in Asia take a beating after automaker misses targets
▼ + stars: | 2024-01-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A Tesla Inc. Model 3 long range electric vehicle charges at the Tesla Supercharger station in Kettleman City, California, U.S., on Wednesday, July 31, 2019. Shares of electric vehicle makers and Tesla 's Asia suppliers tumbled on Thursday after the EV maker missed fourth quarter revenue and profit targets on Thursday and warned of slower sales this year. South Korean display manufacturer LG Display, known to supply the car displays for Tesla's Model 3, fell more than 4%. Battery suppliers to Tesla also saw declines. LG Energy Solution fell 3.8%, while Samsung SDI and Panasonic Holdings both declined about 2%.

Persons: Tesla Organizations: Tesla Inc, Tesla, LG, Battery, LG Energy, Samsung SDI, Panasonic Holdings Locations: Kettleman City , California, U.S, Asia, Texas, South

☆ Panasonic puts productivity boost ahead of new EV plant in U.S.
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: +3 min

The Panasonic Energy Co. headquarters in Moriguchi, Osaka Prefecture, Japan, on Thursday, Jan. 11, 2024. The battery unit, Panasonic Energy, had previously said it aimed to decide on building the factory by the end of March. Panasonic Energy has a plant in Nevada and has broken ground on a second one in Kansas. The unit expects the Kansas plant to take its annual auto battery capacity to 80 gigawatt hours, or GWh, a year. Given the human resources requirements of a new plant, Kusumi said it was generally better to have fewer production sites.

Persons: Kentaro Takahashi, Yuki Kusumi, Kusumi Organizations: Panasonic Energy Co, Panasonic, EV, Bloomberg, Getty, Panasonic Energy, EVs, General Motors, Ford, U.S Locations: Moriguchi, Osaka Prefecture, Japan, North America, Tokyo, United States, Nevada, Kansas, Oklahoma, Europe

☆ One country dominated clean energy growth this year, and it isn't the US, UK, or Germany. It's China, by a landslide.
▼ + stars: | 2023-12-27 | by ( Associated Press | ) www.businessinsider.com time to read: +11 min

In the United States, California continues to have the most solar energy, followed by Texas, Florida, North Carolina, and Arizona. China was one of the few growing markets this year for wind, the Global Wind Energy Council said. Faster permitting and other improvements in key markets such as Germany and India also helped add more wind energy. The top three markets this year are still China, the United States, and Germany for wind energy produced on land, and China, the United Kingdom, and Germany for offshore. The analysts are predicting that the global industry will rebound next year and make nearly 12% more wind energy available worldwide.

Persons: Mohammed bin Rashid Al Maktoum, Joshua A, Bickel, it's, Michael Taylor, IRENA, Karim Shahi, Rafiq Maqbool, Daniel Bresette, Bresette, Abigail Ross Hopper, Wood, Wood Mackenzie, Julia Nikhinson Construction, John Hensley, Seth Wenig, Hau Dinh, Evan Hartley, Paul Braun, John Eichberger, Daan Walter Organizations: Service, International Energy Agency, Business, IEA, United Arab Emirates, Climate, AP, International Renewable Energy Agency, Arizona . Workers, Energy Limited's, Energy, Environmental, Energy Study Institute, Solar Energy Industries Association, Global Energy Monitor, Wind Energy, Clean Power, Workers, Atlas Public, Benchmark Mineral Intelligence, Benchmark, University of Illinois, Panasonic, Toyota, Health, General Motors Co, LG Energy, Transportation Energy Institute, Rocky Mountain Institute Locations: Germany, Spain, Mohammed, Dubai, United, Bickel China, Europe, United States , California, Texas , Florida, North Carolina, Arizona, Karim, Khavda, Bhuj, India, Pakistan, Gujarat, China, Wood Mackenzie, Montauk Point , New York, Asia, United States, State, New London, Conn, United Kingdom, Hai Phong, Vietnam, Kansas, Ohio

☆ EV battery startup ONE cuts workforce by 25%
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

The logo for Our Next Energy (ONE) is seen outside the company's headquarters in Novi, Michigan, U.S., April 25, 2022. Photo taken April 25, 2022. REUTERS/ Rebecca Cook/File Photo Acquire Licensing RightsNov 27 (Reuters) - Our Next Energy (ONE) said on Monday it has cut around 25% of its workforce, or 128 employees, as the electric-vehicle battery startup deals with high borrowing costs and an uncertain economy. Tesla (TSLA.O) supplier Panasonic Holdings (6752.T) said last month that it had cut automotive battery production in Japan in the September quarter, underscoring a global slowdown in EV sales due to high interest rates. Reporting by Zaheer Kachwala in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, Mujeeb Ijaz, Zaheer Kachwala, Maju Samuel Organizations: Next Energy, REUTERS, Energy, Apple, Panasonic Holdings, Thomson Locations: Novi , Michigan, U.S, Michigan, American, Japan, Bengaluru

☆ Warren Buffett pays for Indian payments punt
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsMUMBAI, Nov 27 (Reuters Breakingviews) - Berkshire Hathaway’s (BRKa.N) foray into the digital payments industry in India did not go well. Warren Buffett’s investment firm on Friday sold its remaining shares in $7 billion Paytm, some five years after making its initial investment, locking in a more than 20% loss, per Breakingviews calculations. But Berkshire only invested $260 million, barely a blip next to its $700 billion-odd of assets at the time. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Warren Buffett, Rick Wilking, Warren, –, Vijay Shekhar Sharma’s, it’s, Antony Currie, Katrina Hamlin Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, Rights, Reuters, Berkshire, X, Thomson Locations: Omaha , Nebraska, Rights MUMBAI, Berkshire, India, Una, China, Rome

☆ Julius Baer’s damage control only goes so far
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsMILAN, Nov 27 (Reuters Breakingviews) - Julius Baer (BAER.S) has soothed agitated investors’ fears – but only up to a point. The $11 billion Swiss wealth manager said on Monday that 70 million Swiss francs of recently revealed losses stemmed from 606 million Swiss francs of loans to a single corporate client – which Reuters identified as troubled property group Signa. That’s 40% of the bank’s 1.5 billion Swiss francs riskiest credits, an uncomfortably high concentration. That implies a buffer of 450 million Swiss francs over the 14% threshold at which boss Philipp Rickenbacher gets comfortable doing share buybacks.

Persons: Julius Baer, Arnd, ’, –, Philipp Rickenbacher, Julius Baer’s, Lisa Jucca, Warren Buffett, George Hay, Streisand Neto Organizations: REUTERS, Reuters, X, Thomson Locations: Zurich, Switzerland, China

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