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☆ Wall Street wants updates on EVs and short-term guidance from GM's investor day
▼ + stars: | 2022-11-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. GM will look to address such concerns during an investor event, which kicks off at 1 p.m. Analyst are expected to press executives on updates to its previously announced plans, short-term guidance and potential macro-offsets in the years ahead, especially in 2023. "At the last Investor Day, GM promised ICE-like EV margins by 2030. The company also has plans for capacity of 1 million EVs in China by then as well.

☆ Ford must bring more work in-house to preserve jobs - CEO
▼ + stars: | 2022-11-15 | by ( Joseph White | ) www.reuters.com time to read: +2 min

[1/2] Ford CEO Jim Farley attends the official launch of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, U.S. April 26, 2022. Electric vehicles will require 40% less labor to build than current combustion vehicles, Farley told a conference in Detroit sponsored by the Rainbow PUSH Coalition, a civil rights group. Bringing production of electric vehicle motors, batteries and other components in-house was necessary to preserve jobs and to be competitive, Farley said. 1 U.S. electric vehicle maker, builds much of the hardware for its electric vehicles, including batteries. Ford has begun building an electric vehicle manufacturing complex in Western Tennessee called Blue Oval City.

☆ Your Boss Is Over Hybrid Work. Here’s How to Keep Your Flexibility.
▼ + stars: | 2022-11-14 | by ( Ray A. Smith | ) www.wsj.com time to read: 1 min

Employees are finding it takes extra work to hold on to the flexible habits companies allowed in the thick of the pandemic. More companies are stepping up in-office work requirements or backtracking on earlier pledges to soften the rigid 9-to-5 schedule. General Motors Co. is requiring salaried employees to be in the office three days a week starting at the end of January, after holding off on a similar plan this fall. Last week, Elon Musk told Twitter Inc. staff he expected most of them to show up at least 40 hours a week, ending the remote-work option that the company’s previous leaders said would continue.

☆ Elon Musk's SpaceX buys ad campaign on Twitter for Starlink
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

Nov 14 (Reuters) - SpaceX has bought an advertising package on Twitter for its satellite internet service Starlink, said Elon Musk, who owns both the rocket company and the social media platform, in a tweet on Monday. loading"SpaceX Starlink bought a tiny – not large – ad package to test effectiveness of Twitter advertising in Australia & Spain. The chief executive of Tesla Inc (TSLA.O) and SpaceX had last week told advertisers that he aimed to turn the social media platform to pursue truth and put an end to fake accounts. He also raised the possibility of Twitter going bankrupt days after he said the platform saw a "massive" drop in revenue and blamed activist groups pressuring advertisers. Reporting by Akriti Sharma and Akash Sriram in Bengaluru; Editing by Vinay Dwivedi and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Major ad firm Omnicom recommends clients pause Twitter ad spend - The Verge
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

Nov 11 (Reuters) - Advertising and marketing conglomerate Omnicom Group Inc (OMC.N) has recommended that clients pause their spending on Twitter in the short term, The Verge reported on Friday, citing an internal memo. Omnicom serves over 5,000 clients in 70 countries, including McDonald's Corp (MCD.N), Apple (AAPL.O) and Johnson & Johnson (JNJ.N). "The risk to our clients' brand safety has risen sharply to a level most would find unacceptable," the report added, citing the Omnicom memo. Last month, U.S. automaker General Motors Co (GM.N) said it had temporarily halted paid advertising on Twitter. read moreReporting by Mehnaz Yasmin in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Waymo starts full-fledged robotaxi services in Phoenix
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

Nov 10 (Reuters) - Alphabet Inc's (GOOGL.O) Waymo said it was opening up its autonomous ride-hailing service for customers in Phoenix, Arizona on Thursday, pushing ahead with the deployment of robotaxi services in the United States. Investors have been worried about the timeline for autonomous vehicle deployment, as it has been stretched by tough regulatory scrutiny, and delayed commercial adoption of the technology. The autonomous vehicle technology company looks to deploy its Waymo One robotaxi services in Los Angeles and San Francisco in the near future. Customers with the Waymo app can hail a ride within Phoenix's downtown area, the company said on Thursday, after months of test runs. Prior to launching full-fledged services in Phoenix, Waymo operated trips round the clock in Phoenix's East Valley region and provided trips to and from the city's Sky Harbor airport.

☆ Elon Musk Tries to Convince Wary Advertisers to Stay on Twitter
▼ + stars: | 2022-11-09 | by ( Patrick Coffee | ) www.wsj.com time to read: +6 min

That prompted Mr. Musk to say there has been a “massive drop in revenue” in a tweet last Friday. “I understand if people want to, you know, give it a minute and see how things are evolving,” Mr. Musk said. “Obviously Twitter cannot be simply some extension of me, because then anyone who doesn’t agree with me will be put off,” Mr. Musk said. Other potential new features include letting verified subscribers post high-quality videos that are up to several hours long, according to Mr. Musk. Twitter’s pivot toward subscriptions and e-commerce could also help minimize trolls and fake accounts, according to Mr. Musk.

REUTERS/Andrew KellySEOUL/WASHINGTON, Nov 9 (Reuters) - South Korean battery makers have urged the U.S. government to factor in realities of a complex supply chain for the industry and not hold the sector to "impossible requirements" ahead of the implementation of new U.S. EV tax credit rules. LG Energy Solution Ltd (LGES) (373220.KS), SK Innovation's (096770.KS) SK On and Samsung SDI Co Ltd (006400.KS) expressed their concerns about the electric vehicle tax credit rules in comments submitted to the U.S. Internal Revenue Service (IRS). LGES added in its comment that transforming the supply chain cannot occur "overnight" and urged the United States not to hold the industry to "impossible requirements and timelines". Such market distortions could create artificial costs and barriers along the supply chain," SK On said. Samsung SDI also urged the United States to implement rules that allow flexibility to meet supply chain requirements, adding that automotive supply chain contracts often last several years.

☆ Elon Musk tells Twitter advertisers he wants to stop fake accounts, pursue truth
▼ + stars: | 2022-11-09 | by ( Sheila Dang | ) www.reuters.com time to read: +4 min

[1/3] Elon Musk's photo is seen through a Twitter logo in this illustration taken October 28, 2022. Days after Twitter rattled users and advertisers by cutting half its staff, over 100,000 listeners tuned in to hear Musk speak on Twitter's Spaces feature. In the week since Musk took over, GM, General Mills and Mondelez International Inc (MDLZ.O) have pulled ads off Twitter, concerned Musk could loosen content moderation rules. He told advertisers Twitter would move aggressively to suspend accounts that "engaged in trickery" or deception. Musk said in a tweet on Wednesday that he "killed" a new "official" label for Twitter accounts, on the same day that it began rolling out.

DETROIT/WASHINGTON, Nov 7 (Reuters) - Stellantis (STLA.MI) said on Monday it is pausing all paid advertising posts on Twitter as it waits to see what the platform will look like under the leadership of its new owner Elon Musk. “We're pausing paid advertising posts until we have a clearer understanding of the future of the platform under its new leadership," the automaker said of Twitter in a statement to Reuters. Musk has said Twitter has suffered a "massive" revenue drop since he took over 10 days ago. Stellantis joins a number of major companies that have halted advertising on Twitter, including United Airlines (UAL.O), General Mills Inc (GIS.N) luxury automaker Audi of America and General Motors Co (GM.N). Gilead Sciences Inc (GILD.O) said earlier on Monday the company and its unit Kite were in the "process of pausing advertising" on Twitter.

☆ Foxconn Plans to Invest $170 Million in EV Truck Maker Lordstown Motors
▼ + stars: | 2022-11-07 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

Foxconn Technology Group, the world’s biggest contract manufacturer for electronics, is deepening its investment in Lordstown Motors Corp., a once-troubled EV startup that recently began building its first all-electric pickup truck at a former General Motors Co. plant in Ohio. The two companies said Monday that Taipei-based Foxconn plans to spend $170 million to buy both common stock and newly created preferred shares, providing Lordstown Motors with a fresh injection of capital as it works to increase production of its debut model, the Endurance.

The groups said on Friday they are escalating their pressure and demanding brands pull their Twitter ads globally. Staff who worked in engineering, communications, product, content curation and machine learning ethics were among those impacted by the layoffs, according to tweets from Twitter staff. Shannon Raj Singh, an attorney who was Twitter's acting head of human rights, tweeted on Friday that the entire human rights team at the company had been cut. Musk tweeted that his team had made no changes to content moderation and done "everything we could" to appease the groups. Employees of Twitter Blue, the premium subscription service that Musk is bolstering, were also let go.

☆ Musk says Twitter saw revenue slump as activist groups pressured advertisers
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

Nov 4 (Reuters) - New owner Elon Musk said on Friday that Twitter Inc had seen a "massive" drop in revenue and blamed activist groups pressuring advertisers. The world's richest person, who took control of the social media company last week, said the decline came "even though nothing has changed with content moderation and we did everything we could to appease the activists." Twitter recorded a fall in revenue in its last reported quarterly results in July, blaming Musk's $44 billion buyout proposal and a weakening digital advertising market. At a presentation for advertisers in May, some ad agencies and brands were already skeptical on concerns that Musk would scale back content moderation and security protection on the platform. read moreTwitter will form a content moderation council "with widely diverse viewpoints", Musk tweeted last Friday, adding that no major content decisions or account reinstatements will happen before the council convenes.

☆ Cheerios maker General Mills pauses advertising on Twitter
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: 1 min

Nov 3 (Reuters) - General Mills Inc (GIS.N) has paused advertising on Twitter, a company spokesperson said on Thursday, days after the social media platform was acquired by billionaire Elon Musk for $44 billion. "We will continue to monitor this new direction and evaluate our marketing spend," the spokesperson added. The company, known for its Cheerios and Lucky Charms cereals, joins top U.S. automaker General Motors Co (GM.N), which last week said it had temporarily halted paid advertising on Twitter. Reporting by Deborah Sophia in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Cheerios maker General Mills, Audi of America pause advertising on Twitter
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] Packages of Cheerios, a brand owned by General Mills, are seen in a store in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew KellyNov 3 (Reuters) - General Mills Inc (GIS.N) and Luxury automaker Audi of America said on Thursday they have paused advertising on Twitter, days after the social media platform was acquired by billionaire Elon Musk for $44 billion. "We will continue to monitor this new direction and evaluate our marketing spend," a General Mills spokesperson said. Audi of America, the Herndon, Virginia-based U.S. unit of Audi - a Volkswagen Group (VOWG_p.DE) brand - said it would "continue to evaluate the situation." The two companies join top U.S. automaker General Motors Co (GM.N), which last week said it had temporarily halted paid advertising on Twitter.

☆ Factbox: Advertisers react to Twitter's new ownership
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - Advertisers are grappling with Twitter's new ownership under Tesla boss Elon Musk, who once tweeted "I hate advertising". General Motors Co (GM.N)The largest U.S. automaker temporarily paused paid advertising on Twitter after Musk completed his takeover of the social media company. The Detroit automaker said it was "engaging with Twitter to understand the direction of the platform under their new ownership." The Interpublic Group of Companies Inc (IPG.N)The global advertising and marketing services firm recommended that its clients temporarily pause their advertisements on Twitter, The Wall Street Journal reported. Compiled by Alberto Chiumento, Philipp Krach and Antonis Pothitos; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ L'Oréal denies report saying it suspended Twitter ad spending
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

Nov 2 (Reuters) - Cosmetics maker L'Oréal SA (OREP.PA) said it had not suspended advertising spending on Twitter, denying a Financial Times report from earlier on Wednesday that cited sources familiar with the matter. "L'Oréal did not make any decision to suspend advertising spending on Twitter," a company spokesperson told Reuters in an email. Last week, top U.S. automaker General Motors Co (GM.N) said it had temporarily halted paid advertising on Twitter after Elon Musk completed his takeover of the social media company. Musk said in an open letter to advertisers last week that he wanted Twitter to be "the most respected advertising platform in the world." At a presentation for advertisers in May, some ad agencies and brands were already skeptical about Twitter's future.

☆ Aurora says it has enough cash to sustain through mid-2024
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

Nov 2 (Reuters) - Aurora Innovation Inc (AUR.O) has enough cash to sustain its operations through mid-2024, the company said on Wednesday, even as it grapples with an uncertain market for autonomous driving. Shares of the company jumped 8% to $2.03 in extended trading after Aurora said it had over $1.2 billion in cash and short-term investments, which would also be used to develop its self-driving technology. Aurora said that it had over $1.2 billion in cash and short-term investments, which it expects to fund operations through mid-2024 and enable development of the Aurora Driver technology. The company expects to launch Aurora Driver platform at the end of 2024. The company has seen its market value plunge to $2.5 billion from $12.5 billion last November, when it went public.

☆ Livent trims lithium sales and profit forecast; shares slip
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Lithium producer Livent Corp (LTHM.N) on Tuesday cut the top end of its 2022 earnings and sales forecast, citing inflation and other macroeconomic pressures weighing on its output of the electric vehicle battery metal. Shares fell 2.5% in after-hours trading following the news, despite Livent posting better-than-expected quarterly profit. Livent now expects 2022 sales of $815 million to $845 million, compared with a previous estimate for annual sales between $800 million to $860 million. The company also cut the top end of its adjusted profit forecast by $5 million, to $370 million. In August, Livent struck a six-year lithium supply deal worth nearly $200 million with General Motors Co (GM.N).

☆ UAW Files for Federal Permission to Set Election at Ohio Battery Plant
▼ + stars: | 2022-10-31 | by ( Mike Colias | ) www.wsj.com time to read: 1 min

General Motors co-owns a battery plant in northeast Ohio where the United Auto Workers is looking to hold an election. The United Auto Workers is seeking federal permission to hold an election at a new battery plant in Ohio co-owned by General Motors Co., claiming the factory’s owner has resisted workers’ efforts to unionize. The UAW said Monday that a majority of the facility’s 900 workers have signed cards requesting that the union represent them at the factory, which is owned by Ultium Cells LLC , a 50-50 joint venture between GM and Korean battery supplier LG Energy Solution . The northeast Ohio facility opened in late August.

☆ Elon Musk deletes tweet with unfounded theory about Pelosi attack
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +2 min

[1/2] An image of Elon Musk is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoOct 30 (Reuters) - Twitter's new owner Elon Musk appeared to have deleted a tweet posted on Sunday referencing an unfounded theory regarding the attack on the husband of U.S. House Speaker Nancy Pelosi at their San Francisco home. Neither Musk nor Twitter immediately responded to a request for comment. In a tweet last week, Musk appealed directly to advertisers, saying that under his watch the social network "obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!" The suspect in the Pelosi attack, David DePape, is due to be charged on Monday with multiple felonies for allegedly clubbing Paul Pelosi over the head with a hammer on Friday after forcing his way into the couple's home shouting "Where is Nancy?"

☆ GM Pauses Paid Advertising on Twitter After Elon Musk’s Takeover
▼ + stars: | 2022-10-28 | by ( Mike Colias | ) www.wsj.com time to read: 1 min

GM cars at a Shanghai exhibition in September. The auto maker says it is ‘engaging with Twitter to understand the direction of the platform.’General Motors Co. is pausing its paid advertising on Twitter in the wake of Elon Musk’s acquisition of the social-media site, saying it wants more information about the site’s direction under its new ownership. The Detroit auto maker, which competes against Mr. Musk’s Tesla Inc., characterized the move as a normal step when a media platform undergoes a significant change.

☆ Chrysler parent Stellantis offering U.S. salaried buyouts
▼ + stars: | 2022-10-28 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

Oct 28 (Reuters) - Chrysler parent company Stellantis NV (STLA.MI) said Friday it has offered voluntary buyouts to some of its 13,000 U.S. salaried employees. Salaried workers age 55 or older who have been with the automaker at least 10 years are eligible. 2 U.S. automker had too many people, and that not enough of its workforce had the skills required as the auto industry shifts to electric vehicles and digital services. Earlier this year the Detroit automaker said it was slowing hiring and only replacing key departures or critical needs. Reporting by David Shepardson; editing by Jonathan Oatis and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ GM temporarily halts paid advertising on Twitter
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: 1 min

Oct 28 (Reuters) - General Motors Co (GM.N) said late on Friday it had temporarily halted paid advertising on Twitter after Elon Musk completed his takeover of the social media company. The largest U.S. automaker said it was "engaging with Twitter to understand the direction of the platform under their new ownership. As is normal course of business with a significant change in a media platform, we have temporarily paused our paid advertising." GM said its "customer care interactions on Twitter will continue." Reporting by David Shepardson Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street asks if Musk can manage Twitter, Tesla and more
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +2 min

Oct 28 (Reuters) - As the dust settles on Elon Musk's $44 billion buyout of Twitter, analysts and investors are debating one crucial question - has the billionaire entrepreneur behind Tesla and SpaceX bitten off more than he can chew? Tesla's stock has lost nearly a third of its market value since Musk made an offer to buy Twitter in April, more than double the decline in the benchmark S&P 500 index (.SPX) in the same period. Nelson is among those who believe that Musk can handle the various roles while delivering on Tesla's targets. "If anyone is capable of pulling off this juggling act in our view, you know it's Elon," he said. Tesla stock reacts to Musk's $44 bln deal to buy TwitterReporting by Nivedita Balu, Akash Sriram and Yuvraj Malik in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

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