DIRS.INFO The most relevant business & tech news

☆ The 2023 Super Bowl Ads Will Feature Booze, Betting and Jesus
▼ + stars: | 2023-02-10 | by ( Megan Graham | Patrick Coffee | ) www.wsj.com time to read: +10 min

The Super Bowl ads on Sunday are poised to promote an unusual mix of alcohol brands, gambling and Jesus. The Super Bowl still regularly draws an audience of around 100 million people, making it TV’s biggest event of the year and advertising’s biggest night. Planters’ Super Bowl ad features comedians mocking Mr. Peanut. The ads are likely to strike a lighter tone than the occasionally somber messages of Super Bowl ads in recent, highly politicized years or the early pandemic, said Anjali S. Bal, an associate professor of marketing at Babson College. Many Super Bowl advertisers have again released their ads well before Super Bowl Sunday to increase their chances of being seen.

In a letter addressed to Secretary of Labor Marty Walsh, the group of Democratic lawmakers, led by Michigan Congressman Dan Kildee, pressed the department "to take immediate action to rid Hyundai's supply chain of child labor." The news agency reported that state and federal authorities were investigating as many as ten suppliers for potential child labor violations there. In their letter to Walsh, the lawmakers commended the Labor Department for its enforcement actions in the matter so far. After Reuters' first story about child labor at SMART last July, the department and Alabama state authorities launched a probe into the supplier. The lawmakers said they want the Labor Department to take further action because "additional automotive parts suppliers for Hyundai, mainly in Alabama, are also suspected of child labor violations."

☆ Why you won't see many car ads during Sunday's Super Bowl
▼ + stars: | 2023-02-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

The average cost of a 30-second commercial during last year's Super Bowl was $6.5 million, up more than $2 million over 2016 rates. Automakers — historically among the largest Super Bowl advertisers — are mostly bypassing this Sunday's NFL championship game to preserve cash or spend ad dollars elsewhere. And EV startup Polestar, whose ad was a success in the 2022 Super Bowl, said it will also not advertise this year. Ferrell also appeared in GM's Super Bowl ad promoting EVs two years ago. Stellantis has not released its ads, while GM, Kia and WeatherTech released their commercials earlier this week.

"We don't see (price cuts) at this point in time," Rowan told Reuters. "Demand for our (battery electric vehicles) is the highest that we've ever seen, the backlog for that as well." Those price cuts are expected to hit EV startups like U.S. firm Rivian RIVN.O more than established brands. Henrik Fisker, CEO of U.S. EV maker Fisker (FSR.N), told Reuters he also has no plans to lower prices, arguing that the EV startup's cars were already competitively priced. Despite the price cuts, some suppliers say they have seen no EV production surge so far.

☆ How Budweiser Tackled a Beer-Free World Cup
▼ + stars: | 2023-02-09 | by ( Katie Deighton | ) www.wsj.com time to read: +9 min

In the end, the brewer found a way to navigate the World Cup beer-free and roll with the media attention that the alcohol ban generated. Soccer’s 2022 FIFA World Cup in Qatar ran from Nov. 20 to Dec. 18. World Cup sponsors Kia and Adidas similarly maintained their reputational scores, according to the Morning Consult data. Budweiser doesn’t pay a reported $75 million for the official beer sponsorship of the World Cup just to serve beer at stadiums. But the ban on alcoholic Budweiser undermined the impetus for being at the World Cup, Mr. Marcondes said.

☆ High-tech dashboards, driving assistants vex luxury vehicle owners -study
▼ + stars: | 2023-02-09 | by ( Joseph White | ) www.reuters.com time to read: +2 min

The gap in reliability scores between luxury brands and those for mass market brands such as Kia were the widest in the 34 years that J.D. Power sets Tesla aside from other brands in the rankings because the electric vehicle maker doesn't provide it with full access to information about owners. Other luxury brands fared poorly, too. Infotainment systems complaints, such as problems with wireless Bluetooth phone connections, dragged down scores from vehicle owners of several luxury brands, according to the report. Even as luxury brands compete to offer more advanced digital content and dashboard features, luxury vehicle owners are finding fault with the infotainment systems at about double the rate as owners of mass-market brands, Hanley said.

☆ Emerging markets are getting attention. Morgan Stanley names the 'highest quality' stocks to play it
▼ + stars: | 2023-02-09 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

Emerging market stocks are piquing investor interest. Against that backdrop, Morgan Stanley named a raft of EM stocks it says are of the "highest quality" and are trading at reasonable prices. Morgan Stanley said valuations look "attractive" for the 29 stocks that turned up on its screen. Morgan Stanley likes Alibaba as a play on China's reopening and consumption recovery. Singapore-based utilities firm Sembcorp Industries is another Morgan Stanley favorite.

"We share Congresswoman Sewell's view that the use of child labor is unacceptable," Hyundai said. Sewell's comments are the first from a high-ranking Alabama official on child labor problems in Hyundai's supply chain. The new actions by Hyundai and its discussions with regulators and lawmakers come after Reuters documented child labor in various Alabama auto plants making parts for Hyundai or Kia. The child labor reports have put a spotlight on Hyundai's growing operations in the United States. Regulatory fines for child labor, by contrast, can be relatively small.

☆ Toyota unveils new Grand Highlander, expanding hybrid crossover lineup
▼ + stars: | 2023-02-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

In this article 7203.T-JP Follow your favorite stocks CREATE FREE ACCOUNT2024 Toyota Grand Highlander ToyotaCHICAGO — Toyota Motor is expanding its segment-leading, three-row crossover lineup with the new 2024 Grand Highlander, including two gas-powered hybrid offerings. The automaker revealed the vehicle as a bigger sibling to the Toyota Highlander midsize SUV/crossover on Wednesday night. The Grand Highlander adds to the growing three-row midsize crossover segment in the U.S., which has expanded from 12 nameplates in 2018 to 16 vehicles for 2023, including the Grand Highlander, Edmunds reports. 2024 Toyota Grand Highlander ToyotaThe Grand Highlander was revealed in connection to this week's Chicago Auto Show. 2024 Toyota Grand Highlander ToyotaToyota says the Grand Highlander will offer a suite of active safety and convenience features as well as 13 cupholders and seven USB-C charge ports across the vehicle's three rows.

☆ Tesla just ignited a price war in electric vehicles. Investors should see it as an opportunity
▼ + stars: | 2023-02-06 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +11 min

The event may have created a compelling entry point for investors who have been on the sidelines of the long-term shift to electric vehicles. Electric vehicles are becoming much more popular in the U.S. but still make up a small portion of automobiles on the roads. Cutting prices certainly caught the eye of consumers and boosted interest in Tesla vehicles, according to data from Edmunds. And, there are still issues with electric vehicles that make them impractical for large groups of consumers, said Mike Ward, an analyst at The Benchmark Company. There’s also a huge potential in firms that make batteries, key parts of electric vehicles that are also seeing surging share prices.

☆ Confessions of 20-somethings who live at home and splash out on cars, designer handbags, and nightclubs instead
▼ + stars: | 2023-02-04 | by ( Dan Latu | Kelsey Neubauer | ) www.businessinsider.com time to read: +9 min

They're also spending the money they would have spent on rent on pricey goods and travel. Courtesy of Julia MachajProfession: EngineerIf she weren't living with her parents she'd live in: Stamford, Connecticut, where the rent starts at $1,875, according to Rent.com. Courtesy of Jonathan BranchProfession: AccountantIf he wasn't living with his parents he'd live in: Arlington, Virginia, where rent starts at $1,999, according to Rent.com. He's spent money on: $700 Sony camera and $800 lensesJonathan Branch recently turned 30, but spent his twenties living at home in Fairfax, Virginia. Courtesy of Gabby BeckfordProfession: Travel influencerIf she weren't living with her parents she'd live in: Seattle, Washington, where rent starts at $1,560, according to Rent.com.

☆ Car buyers frustrated with inventory shortages should head to a Ford or GM dealer
▼ + stars: | 2023-02-03 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

In January, dealers were sitting on 37 days' supply, with about 21 days for cars and 41 days for trucks, according to a Deutsche Bank note Thursday. The domestic automakers had higher days' supply than others, with Ford at 60 days, GM at 52 days, and Stellantis (the merger of Fiat Chrysler and the French PSA Group) at 68 days, per Deutsche Bank. Even with inventory improvements, car-buyers need to look out for high interest rates and loan payments. Kekyalyaynen / Shutterstock.comBeware high interest rates and loan paymentsJust because there are available vehicles, that doesn't mean demand for cars is waning. Some automakers' loan payments are much higher than others, pricing buyers out of the market.

☆ Electric cars are too expensive because Americans insist on having more car than they need
▼ + stars: | 2023-02-02 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

But Americans love SUVs and trucks, and they're going to have to pay for them in the near term. A lot of prospective EV buyers just haven't yet found the types of EVs they're looking for. They don't necessarily need more luxury electric sedans — they want the trucks and SUVs they're used to. A recent study found most car-buyers don't want to spend more than $50,000 to go EV, but they also want electric trucks and SUVs that inherently cost more. Bigger vehicles are often just more expensive, largely because they require bigger batteries — the most expensive part of these new EVs.

☆ The generative AI boom is bringing San Francisco’s tech scene roaring back to life
▼ + stars: | 2023-01-31 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Techies fled from San Francisco during the pandemic, and its resurgence stalled for a while. It's just south of Japantown, mere blocks from San Francisco City Hall, and north of the Mission District. Someone even said it would be "irresponsible" to not work on generative AI in San Francisco. There aren't any skeptics in the space yet, and the majority of generative AI investments land in the Bay Area. Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Matt Weinberger (tweet @gamoid) in San Francisco and Hallam Bullock (tweet @hallam_bullock) in London.

☆ Some Kia and Hyundai models get stolen so often that State Farm and Progressive said they'll no longer insure them in some cities
▼ + stars: | 2023-01-30 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

State Farm and Progressive are temporarily not writing new policies for some Hyundai and Kia cars, per reports. Since 2018, car thefts in Colorado rose by 160%, with Kia and Hyundai cars making up most of the thefts, Denver7 reported. Stolen car claims were almost twice as high for Kia and Hyundai models from 2015 to 2019, according to a report from the Highway Loss Data Institute. Some of the car models use traditional keys and don't have electronic immobilizers in them, meaning people can start the car without a key present. During the pandemic, a trend on TikTok and YouTube went viral teaching people how to hijack some Kia and Hyundai models with a screwdriver and USB charging cord.

☆ Pickleball is tech’s hottest new club. Here’s why it’s gaining popularity in Silicon Valley.
▼ + stars: | 2023-01-30 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

I miss my South Brooklyn pickleball community, but hope to find a consistent place to play in San Diego. Maybe that officially makes me a woman in tech, because right now, it's the hottest club in the industry. I used to play tennis competitively, but I have so much more fun with pickleball. So if you work in tech, let's stop meeting over coffee and chat while dinking instead. These low barriers of entry, plus its social nature, make pickleball perfect for networking.

☆ Why Auto Marketing Looks Poised for Growth in 2023
▼ + stars: | 2023-01-27 | by ( Megan Graham | ) www.wsj.com time to read: +5 min

A year like that might typically drive auto marketing off a cliff. “We haven’t taken our foot off the accelerator, because we do see the transformation of EVs occurring,” Mr. Wager said. “You don’t put a vehicle in the Super Bowl to sell 20,000 vehicles—that doesn’t make any sense,” Mr. Wager said. “You wouldn’t put it on television normally, unless you’re creating the halo of the electrification of the brand,” Mr. Wager said. Kia will be at the Super Bowl again this year, this time advertising its Telluride SUV.

☆ Analysis: India's EV dawn fans expectations fuel demand may peak early
▼ + stars: | 2023-01-27 | by ( Mohi Narayan | ) www.reuters.com time to read: +5 min

Currently, around 90% of Indian petrochemical demand is met by China, he said, so a shift by Indian refiners towards domestic chemical needs could dramatically change supply dynamics. Indian refiners are investing billions of dollars to raise petrochemical capacity. Indian Oil Corp (IOC.NS), the country's top refiner, is raising petrochemical capacity at its Panipat refinery by 13% and building new plants linked to its Paradip and Gujarat refineries. India's state refiners, which dominate fuel retailers, plan to set up EV charging facilities at more than 22,000 fuel stations and highways by 2024. About 40% of India's fuel demand is for diesel, which is mostly used by trucks.

☆ These are the 11 cheapest electric cars you can buy in 2023
▼ + stars: | 2023-01-27 | by ( Tim Levin | ) www.businessinsider.com time to read: +6 min

We've found the 11 cheapest new EVs you can buy in 2023. Chevrolet Bolt EVThe 2023 Chevrolet Bolt EV. ChevroletRetail price: $27,800EPA-estimated range: 247 milesQualifies for EV tax creditChevy recently introduced a big brother for the Bolt EV, the Bolt EUV. MazdaRetail price: $34,110EPA-estimated range: 100 milesMazda's first electric model disappoints in the all-important range department. KiaRetail price: $39,550EPA-estimated range: 253 milesThe Kia Niro gets bold new looks for the 2023 model year.

☆ Some auto insurers are refusing to cover some Hyundai and Kia models
▼ + stars: | 2023-01-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Progressive and State Farm, two of America’s largest auto insurers, are refusing to write policies in certain cities for some older Hyundai and Kia models that have been deemed too easy to steal, according to one of the insurance companies and media reports. The insurance companies did not tell CNN which cities or states were involved. Hyundai and Kia operate as separate companies in the United States, but Hyundai Motor Group owns a large stake in Kia and various Hyundai and Kia models share much of their engineering. Engine immobilizers are now standard on all Kia vehicles, according to a statement by the automaker and the company says it has been developing and testing security software for vehicles not originally equipped with an immobilize. Hyundai said it is providing free steering wheel locks to some police departments around the country to give local residents who have easily stolen Hyundai models.

☆ Consumer Reports calls Ford’s automated driving tech much better than Tesla’s
▼ + stars: | 2023-01-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

And in a recent ranking by Consumer Reports, which tested ADAS from 12 different carmakers, Tesla’s ranked seventh. GM’s Super Cruise, which ranked second, is the only other system tested by Consumer Reports that works this way. Ford’s driver monitoring technology is one of the major reasons that BlueCruise ranked so highly in Consumer Reports’ testing. Kia and Genesis did not immediately respond to requests from CNN Business for comments on Consumer Reports’ assessments. For the most part, vehicle owner’s manuals were of little use in learning how to use the systems, Consumer Reports said.

☆ Electric car-makers have found a legal loophole to get their customers an extra $7,500 tax credit
▼ + stars: | 2023-01-25 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

The commercial EV credit comes with way fewer requirements that are far less difficult to achieve — and it could be a clever workaround for the passenger vehicle space. Finding a workaroundThe commercial credit was designed to incentivize commercial fleets to electrify. Lucid vehicles don't qualify for the new EV credit given they are priced at higher than the MSRP cap requirements. If an EV is eligible for the new tax credit through a vehicle purchase, it cannot take the credit if leased. If an EV is only eligible for the commercial tax credit through a lease, it cannot take a credit if purchased.

☆ Pliskova back in the Melbourne quarter-finals and feeling good
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

"I've been feeling quite good since I came to Australia," she told reporters. Only two top 10 seeds, Jessica Pegula and Aryna Sabalenka, remain in the quarter-finals, leaving Pliskova as one of the more experienced Grand Slam campaigners. "I feel like these days there is not just top 20 tough opponents, there is like 150 tough opponents," the world number 31 added. "Then the rest, Pegula, I think she's playing great tennis. "If I play like I played today, I think it's tough for anybody to compete with that.

☆ Undercover agents for Russia asked Google how to 'disappear' from trouble. They got caught and sent to prison for years.
▼ + stars: | 2023-01-20 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

Two Iranian-born Swedish brothers were convicted of spying for Russia for 10 years. Prosecutors said the brothers tried to cover their tracks, including by asking Google. Peyman Kia and Payam Kia, two Iranian-born Swedish brothers, spent a decade secretly working for Russia's GRU military-intelligence agency, the Associated Press reported. His younger brother, who is 35, was sentenced to nine years and 10 months. Between 2014 and 2015, the eldest brother worked for Sweden's Säpo domestic-intelligence agency and the armed forces, the court heard.

☆ Sweden Convicts Two Iranian-Born Brothers of Spying for Russia
▼ + stars: | 2023-01-19 | by ( Sune Engel Rasmussen | ) www.wsj.com time to read: +1 min

The Swedish court said that evidence submitted in the case of two brothers convicted of spying included traces of classified information stored on a private computer, among other things. A Swedish court convicted two Iranian-born Swedish brothers to lengthy prison sentences for spying for Russia and its GRU military intelligence service, in a verdict that ratchets up tensions between Moscow and the West while Russia said it had begun an investigation into a U.S. national detained there on espionage allegations. Peyman Kia, 42 years old, was sentenced to life in prison Thursday as what prosecutors called the “driving force” behind the brothers’ decadelong espionage plot, while Payam Kia, 35, was sentenced to nine years and 10 months in jail. The brothers were accused of passing about 90 secret documents from the Swedish security and intelligence service, SÄPO, where the older brother worked, to Russian intelligence between 2011 and 2021, according to the Stockholm District Court.

Search resuls for: "Kia"

25 mentions found