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☆ Energy companies with large refinery businesses will be under pressure: Analyst
▼ + stars: | 2024-11-01 | 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 EmailEnergy companies with large refinery businesses will be under pressure: AnalystNeal Dingmann from Truist talks about the challenges facing the energy industry.

Persons: Neal Dingmann Organizations: Email Energy

☆ Why fast-food chains and big brands love loyalty programs
▼ + stars: | 2024-11-01 | by ( Nora Redmond | ) www.businessinsider.com time to read: +6 min

Fast-food chains and retailers are using loyalty programs to drive sales amid inflation challenges. AdvertisementRetailers and fast-food chains are leaning into loyalty programs to drive sales. Starbucks' loyalty program is also growing. AdvertisementThe power lies in the perksHowever, a good loyalty program should be about more than just the points. Advertisement"In a marketplace where choices are endless, a strong loyalty program doesn't just retain customers, it also builds a relationship that feels personal and valuable," she said.

Persons: —, McDonald's, Chris Kempczinski, Kempczinski, It's, Laxman Narasimhan, Paschal, Lindsey Wasson, Burger, Kevin Shahnazari, Zsuzsa Kecsmar, Zarina Stanford, doesn't, Kecsmar Organizations: Service, Global, Starbucks, Costco, AP, KFC, Burger King, Nike Locations: Colorado

☆ Nvidia to join Dow Jones Industrial Average, replacing rival chipmaker Intel
▼ + stars: | 2024-11-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Nvidia is replacing rival chipmaker Intel in the Dow Jones Industrial Average, a shakeup to the blue-chip index that reflects the boom in artificial intelligence and a major shift in the semiconductor industry. Intel shares were down 1% in extended trading on Friday. Nvidia shares rose 1%. Nvidia's market cap has swelled to $3.3 trillion, second only to Apple among publicly traded companies. Intel shares have fallen by more than half this year as the company struggles with manufacturing challenges and new competition for its central processors.

Persons: Jensen Huang, Sherwin Williams, Dow Jones, Dow Organizations: Nvidia, EIFO, NVIDIA, Vilhelm, Intel, Dow Jones, Dow Inc, Apple, Companies, Microsoft, Meta, Google, Dow, Amazon, Walgreens Boots Alliance, AMD Locations: Kastrup, Denmark

☆ Sean ‘Diddy’ Combs case: What the Jane Doe ruling could mean for the other already-filed cases
▼ + stars: | 2024-11-01 | by ( Kara Scannell | ) edition.cnn.com time to read: +6 min

But it isn’t always a deterrent – Combs’ former girlfriend Cassie Ventura filed a lawsuit accusing Combs of abuse last November. Judges weigh the John or Jane Does’ privacy rights against the Constitution’s presumption of open courts and the defendant’s rights to defend themselves. It is also usually permitted when a John or Jane Doe can establish with medical documentation that they will suffer harm. A New York state judge this week ordered hearings to consider whether to allow numerous John Doe lawsuit against Combs to proceed anonymously. A Jane Doe sued Weinstein on August 2020, alleging he raped her during the Cannes Film Festival in 2007 when she was 22.

Persons: Jane, Sean “ Diddy ” Combs, Combs, ”, Roberta Kaplan, Jean Carroll, Donald Trump, – Combs, Cassie Ventura, Imran Ansari, Harvey Weinstein, John, Jane Doe, John Doe, Doe, Jessica Clarke, —, ” Clarke, “, Mitchell Garabedian, they’ve, Judge Mary Kay Vyskocil, “ Plaintiff, Plaintiff, ” Tony Buzbee, Weinstein, ” Judge Vyskocil Organizations: CNN, Lawyers, Hollywood, MTV, ”, Cannes Film Locations: York, Tennessee

With evolving workplace priorities, the Workforce Innovation board also predicted which new roles might emerge in the C-suite, including "chief transformation officer" and "chief experience officer." AdvertisementTim Paradis: We've seen new C-suite roles emerge in recent years, like chief AI officer and chief ethics officer. Then, while there is a "chief AI officer" role that's picking up, there is also a lot of focus on automation. Pittman: I think that a lot of these roles — whether it's chief diversity officer, chief risk officer, chief digital officer — are really about building new competencies that are not widely spread. AdvertisementThe number of companies naming chief transformation officers grew about 140% over the last couple of years.

Persons: Maggie Hulce, Julia Hood, Alicia Pittman, Neil Murray, that's, Kenon Chen, Anant Adya, everybody's, Justina Nixon, Saintil, We've, we've, Borgonovo, Tim Paradis, Nixon, It's, Pittman, Chen, isn't Organizations: Business, Workforce Innovation, Boston Consulting, Clear, Infosys, IBM, Saintil, Mastercard

☆ Higher taxes will make it harder for Britain to build 'the next Nvidia,' tech execs say
▼ + stars: | 2024-11-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

The lower capital gains tax rate was increased to 18% from 10%, while the higher rate climbed to 24% from 20%. Reeves said the increases will help bring in £2.5 billion ($3.2 billion) of additional capital to the public purses. Still, Reeves said the U.K. would still have the lowest capital gains tax rate of any European G7 economy. watch nowReeves announced that the rate of tax on carried interest, which is charged on capital gains, would rise to 32%, up from 28% currently. She nevertheless urged the government to look seriously at mandating that pension funds diversify their allocation to riskier assets like venture capital — a common ask from VCs to boost the U.K. tech sector.

Persons: Rachel Reeves, Reeves, BADR, Paul Taylor, Taylor, Haakon Overli, Dawn Capital, Overli, Anne Glover, Glover, Clarity, Steve Hare, Sage, Sean Reddington, Reddington Organizations: Labour Party Conference, ACC Liverpool Convention Center, Anadolu, Getty, LONDON, Labour, CGT, National Insurance, Unicorn Council, Nvidia, Dawn, NVIDIA, Amadeus Capital, Wealth, Norway's, Fund Global, Saudi Arabia's Public Investment Fund Locations: Liverpool, British, Britain, VCs

☆ Russia's struggle to kick the Ukrainians out is likely only going to get tougher
▼ + stars: | 2024-11-01 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +7 min

AdvertisementRussia's retaking territory in Kursk, but efforts to drive the Ukrainian forces out of the country will likely only get more difficult. Ukrainian troops invaded the Kursk region in southwestern Russia in August, and at one point, they held roughly 500 square miles of Russian territory. Russia's response to the shock assault was slow, but a larger effort to drive the Ukrainians out is now underway. Michael Bohnert, a warfare expert at RAND Corporation, told BI Ukraine doesn't have to defend Russian cities. Russia's military is larger than Ukraine's, which means that the more resources Russia uses, the harder it will be to defend.

Persons: —, William Alberque, Matthew Savill, YAN DOBRONOSOV, Michael Bohnert, it's, Alberque, Vladimir Putin, Ukraine would've, Savill, Russia's, Volodymyr Zelenskyy, Zelenskyy Organizations: Kursk ., Service, Stimson Center, Royal United Services Institute, UK Ministry of Defence, Getty, Russia Ukrainian, RAND Corporation, Ukraine, Ukraine's, Korean, Russian Defense Ministry Press, AP Locations: Russia, Ukraine, Kursk, Russian, Ukrainian, Sudzha, AFP, Russia's Kursk, Ukraine Ukraine, Russia's

In the previous presidential election, more than 3 million Pennsylvanians requested mail-in ballots and 85% – just over 2.6 million – voted by mail. To date, more than 2 million people have requested mail-in ballots in Pennsylvania and so far, 71% – over 1.5 million – have returned them. In one transaction, voters apply for, complete and submit their mail-in ballot at a designated election site before Election Day. “A handful of people were allegedly turned away from early voting lines in Bucks County. The county responded by agreeing in court to additional days, not just hours, of early voting,” the senior official said.

Persons: Donald Trump, Trump’s, it’s, ” Jon Sherman, Trump, “ There’s, ”, Dan Mallinson, Vance, ” Vance, Harris Organizations: Pittsburgh CNN, Elections, Republicans, Republican, Penn State, Democratic Locations: Pennsylvania, Bucks County, Philadelphia, Keystone, Pennsylvania’s, Penn State Harrisburg, Allegheny County, Bucks

☆ The toughest part is just starting for Intel: Analyst
▼ + stars: | 2024-11-01 | 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 EmailThe toughest part is just starting for Intel: AnalystDavid Nicholson of The Futurum Group discusses the challenges Intel is likely to face after a positive earnings result in Q3.

Persons: David Nicholson Organizations: Intel

☆ NASA reestablishes contact with Voyager 1 using an old radio transmitter
▼ + stars: | 2024-11-01 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

Voyager 1 is now using a radio transmitter it hasn’t relied on since 1981 to stay in contact with its team on Earth while engineers work to understand what went wrong. NASA's Voyager 1 spacecraft is depicted in this artist's concept traveling through interstellar space, or the space between stars, which it entered in 2012. Voyager 1 has been using one of its two radio transmitters, called an X-band based on the frequency it utilizes, for decades. In the meantime, engineers sent a message to Voyager 1 on October 22 to check that the S-band transmitter was working and received confirmation on October 24. “The S-band signal is too weak to use long term,” Waggoner said.

Persons: Bruce Waggoner, hasn’t, Waggoner, it’s, ” Waggoner Organizations: CNN, NASA, JPL, Caltech, Jet Propulsion Laboratory, Space, Network, Engineers, Space Network Locations: Pasadena , California

☆ What a potential Harris administration could actually do to protect abortion access
▼ + stars: | 2024-11-01 | by ( Annie Nova | ) www.cnbc.com time to read: +8 min

Democratic presidential nominee Vice President Kamala Harris speaks during a campaign rally at Shell Energy Stadium in Houston, Texas, Oct. 25, 2024. But what could Harris actually do to support abortion access in a post-Roe landscape? Even so, she said, a Harris administration could increase the availability of medication abortions and, crucially, it could fight Republican and activist attempts to further limit reproductive rights. A Harris administration would not enforce the Comstock Act, a controversial federal law passed in 1873 that bans the mailing of obscene matter. "A Harris administration wouldn't be able to change what the Supreme Court is saying, but it could de-prioritize those prosecutions," Ziegler said.

Persons: Kamala Harris, Justin Sullivan, Roe, Wade, Harris, Republican Donald Trump, Alina Salganicoff, Salganicoff, Donald Trump, Olivier Douliery, Mary Ziegler, Ziegler, it's, Jonathan Ernst, Reuters Harris, Kevin Wang, Comstock, wouldn't, Biden, Jeff Kowalsky Organizations: Democratic, Shell Energy, Getty, White, NBC, Republican, Trump, New York Times, Republicans, Washington , D.C, Afp, Wisconsin Public Radio, Supreme, Reuters, Guttmacher Institute, Wisconsin's Madison South Health Center, U.S . Department of Justice, DOJ, Labor, Northwest Activities Center, AFP Locations: Houston , Texas, U.S, Washington, Women's, Washington ,, KFF, Detroit

☆ A fast-changing Chinese coffee market awaits Starbucks CEO Brian Niccol
▼ + stars: | 2024-11-01 | by ( Eunice Yoon | ) www.cnbc.com time to read: +4 min

In this article SBUX Follow your favorite stocks CREATE FREE ACCOUNTPeople seen around the Starbucks coffee store in Shenzhen, China. Costfoto | Nurphoto | Getty ImagesThe formerly Nasdaq-listed Luckin Coffee ran into accounting issues and went through a de-listing. Starbucks has an express version of its coffee stores in China called Starbucks Now, where most patrons order drinks on the app for pick up. Competition from everywhereOn top of the Chinese coffee rivals, Starbucks is competing with a host of other local chains on tea. With more and more Chinese wanting a daily java fix, grab-and-go coffee is becoming widely available at tea chains and convenient marts.

Persons: Jakub Porzycki, Brian Niccol, Niccol, CNBC's Andrew Ross Sorkin, Price, Zhang Peng, Auntea Jenny, Mixue, Jenny, Tim Hortons Organizations: Nurphoto, Starbucks, Nasdaq, Shanghai Starbucks, Lightrocket, Getty, KFC Locations: Shenzhen, China, Shanghai, Cotti, Beijing, Luckin, Costa Coffee

☆ Morgan Stanley says ‘this is the most important election’ in a long time for these tax-free assets
▼ + stars: | 2024-11-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +8 min

Next week's presidential election could have a big impact on municipal bonds, according to Morgan Stanley. In that case, the federal tax exemption becomes worth more, said Dan Close, head of municipals at Nuveen. However, studies have shown a move of just a couple percentage points "doesn't really move the needle" for muni demand, Brandon said. The TCJA increased the AMT exemption and raised the income level at which the exemption would phase out. That's because banks and insurance companies in the U.S. own about a quarter of all outstanding muni bonds, he explained.

Persons: Morgan Stanley, Donald Trump, Kamala Harris, Craig Brandon, Harris, Dan Close, Brandon, MOrgan Stanley, munis, Nuveen's, —, Close, Trump, Morgan Stanley's Brandon, Byron Anderson, He's Organizations: taxpers, AMT, Trump, muni, munis, Republican, Medicare, Democratic, AAA, Investments Locations: Nuveen, U.S

CNN —In the closely watched battleground state of Michigan, election officials are under the microscope, with isolated mistakes or missteps serving as fodder for election deniers to lay the groundwork for widespread doubt of election results. Some of the confusion appears to have originated from a post on X by Matthew DePerno, one of the more high-profile election deniers in Michigan. DePerno has pleaded not guilty in the voting machines case. When it does happen, we take it extremely seriously,” Michigan Secretary of State Jocelyn Benson and Washtenaw County Prosecutor Eli Savit said in a statement. Despite the recent challenges, election officials in Michigan say they are confident that they are prepared to withstand efforts to undermine confidence in the results.

Persons: Lawrence Kestenbaum, “, Matthew DePerno, DePerno, Donald Trump, Lara Trump, Jocelyn Benson, ”, Ben Decker, Eli Savit, can’t, Kestenbaum, David Becker, Benson, Elon Musk, Dominion “, Joe Biden’s, ” he’s, ” Kestenbaum, Kylie Atwood Organizations: CNN, GOP, Republican National Committee, Democrat, Trump, Pundit, University of Michigan, Authorities, Department, Election Innovation, Research, Investigations, Michigan, Tech, Benson, The Michigan Department of State, of, “ Dominion, Dominion Locations: Michigan, Washtenaw County, Ann Arbor, of Michigan, Barry County , Michigan

“She has been pretty resistant to having those conversations,” said one senior Democrat familiar with the pre-election discussions with the vice president. While Harris’ transition team has been operating out of government-provided offices in Washington, Trump’s transition team is working from Manhattan and the Willard Hotel in Washington. A Harris victory would trigger the first same-party transition since 1989, when President Ronald Reagan handed off the presidency to his vice president, George H.W. Yet the extent to which Harris would retain members of the Biden administration is largely unknown. While Harris has maintained relationships with individual Cabinet and administration officials, some believe she will prefer to start anew with her own team.

Persons: CNN — Kamala Harris, Donald Trump, Harris, ”, “, I’ve, he’s, Joe Biden, Biden, Harris –, Harris ’, Ronald Reagan, George H.W, George H.W . Bush, “ They’re, Yohannes Abraham, Josh Hsu, Dana Remus Organizations: CNN, Harris Cabinet, Trump, White, Democratic, GOP, West Wing, White House, Biden, Republican, Association of Southeast Asian Nations Locations: Washington, Manhattan, Washington ., California, George H.W .

☆ Super Micro's 44% plunge this week wipes out stock's gains for the year
▼ + stars: | 2024-11-01 | by ( Ari Levy | ) www.cnbc.com time to read: +4 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. The company's recent challenges date back to August, when Super Micro said it would not file its annual report on time with the SEC. Super Micro disclosed on Wednesday that Ernst & Young had resigned as its accounting firm just 17 months after taking over from Deloitte & Touche. That's up from $2.1 billion a year earlier and $1.9 billion in the same fiscal quarter of 2023. WATCH: I don't know if Super Micro is guilty or innocent, says Jim Cramer

Persons: Charles Liang, Dow Jones, Ernst, Young, Ernst & Young, Jim Cramer Organizations: Super, Computer Inc, Super Micro, Nasdaq, U.S, SEC, Hindenburg Research, Street, Department of Justice, Deloitte, Touche, CNBC, Ernst, Argus Research, Justice Department, Micro Locations: Taipei, Taiwan

☆ Trump co-defendant Kenneth Chesebro suspended from practicing law in New York
▼ + stars: | 2024-10-31 | by ( Zoë Richards | Zoë Richards Is A Politics Reporter For Nbc News. | ) www.nbcnews.com time to read: +3 min

A state appeals court in New York on Thursday suspended Kenneth Chesebro, who struck a plea deal with prosecutors pursuing the 2020 election interference case against former President Donald Trump, from practicing law there. An attorney for Chesebro did not immediately respond to a request for comment Thursday evening. Some legal groups filed ethics complaints against Chesebro with the New York Supreme Court’s attorney grievance committee in 2022. Chesebro was admitted to practice law in New York in 2007. Jenna Ellis, another Trump attorney, was banned in May from practicing law in Colorado for three years.

Persons: Kenneth Chesebro, Donald Trump, Chesebro, Joe Biden, Trump, Scott Grubman, “ Ken Chesebro, ”, Michael Teter, Rudy Giuliani, Jenna Ellis Organizations: Trump, Biden, New York, Washington , D.C Locations: New York, Fulton County , Georgia, Fulton County, Georgia, Massachusetts , California , Texas, Florida, Illinois, Washington ,, Colorado

☆ Full transcript: Vice President Kamala Harris interviewed by NBC News' Yamiche Alcindor
▼ + stars: | 2024-10-31 | by ( Nbc News | ) www.nbcnews.com time to read: +7 min

NBC News’ Yamiche Alcindor interviewed Vice President Kamala Harris just before her rally at the Talking Stick Amphitheatre in Phoenix on Thursday afternoon. And I’m going to be all over the country pretty much — especially in the swing states — talking with folks about the issues that relate to them and the contrast between me and Donald Trump. And this, again, is a big contrast between me and Donald Trump. ALCINDOR: Former President Donald Trump has said that he would be a protector of women, whether they like it or not. ALCINDOR: Former President Trump also rode around in a garbage truck to call attention to President Biden’s comments about his supporters and their rhetoric.

Persons: Yamiche Alcindor, Kamala Harris, HARRIS, Donald Trump, Michelle Obama, Trump, Biden’s, I’ve, Biden, you’re, you’ve, Kamala, it’s, That’s Organizations: NBC, Madam, ALCINDOR, United Locations: Phoenix, Arizona, Wisconsin , Pennsylvania, America, United States

☆ Starbucks CEO Brian Niccol: We're evaluating strategic ways to grow in China
▼ + stars: | 2024-10-31 | 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 EmailStarbucks CEO Brian Niccol: We're evaluating strategic ways to grow in ChinaStarbucks CEO Brian Niccol joins CNBC's Andrew Ross Sorkin to discuss the appeal of coffee, putting guardrails around drink customization, the company's menu plan, how the challenges at Starbucks compare to what he faced at Chipotle, the brand's future in China, 2024 election, and more.

Persons: Brian Niccol, Andrew Ross Sorkin Organizations: China Starbucks Locations: China, Chipotle

☆ Endeavor is using AI to modernize manufacturing. Check out the 9-slide deck it used to raise a $7 million seed round.
▼ + stars: | 2024-10-31 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Endeavor has secured $7 million to modernize manufacturing with AI technology. San Francisco-based Endeavor, launched by 22-year-old Sahitya Senapathy, is developing an AI platform to help modernize manufacturing firms. Endeavor aims to automate many of the manual tasks in the industry, which otherwise consume a lot of time. AdvertisementThe startup uses large language models to automate administrative manufacturing processes, such as purchase orders, invoices, and shipping notices. Check out the 9-slide pitch deck it used to secure the fresh funds.

Persons: —, Senapathy, they're Organizations: Endeavor, BI, Service, San, Business, Craft Ventures, Endeavor's, Heartland Ventures, Web Locations: San Francisco

☆ The US economy is in for a double shock if Trump is elected president, Nobel economist Paul Krugman says
▼ + stars: | 2024-10-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Trump's policies could leave the US economy with two major challenges, Paul Krugman said. Krugman pointed to Trump's economic plan, which economists have described as inflationary. Trump's deportation plans could also hit the economy, given that immigration has boosted the job market. AdvertisementThe US could be in for twin shocks if Trump becomes president for a second time, Nobel economist Paul Krugman said. Trump's general economic plan is also widely thought to be more inflationary than Harris's.

Persons: Paul Krugman, Krugman, —, Trump, Harris Organizations: Service, Peterson Institute for International Economics, Financial Times, University of Chicago, American Immigration, New York Times Locations: York

☆ I left my Big Tech job to bootstrap my own business. I went from making nearly $300,000 to not paying myself a salary.
▼ + stars: | 2024-10-31 | by ( Pooja Shah | ) www.businessinsider.com time to read: +7 min

In October 2023, Soni Mehra left her Big Tech job to focus on her own home decor business. I was accustomed to working with larger teams in Big Tech, so I've had to get used to balancing multiple tasks. Thankfully, I can rely on savings from my prior Big Tech roles. I no longer make the same salary as I did in Big Tech, but still prioritize spending money on things my partner and I value, like travel. People ask me if I'd ever return to Big Tech.

Persons: Soni Mehra, Mehra, —, Gabrielle Wesley, Uber, I'd, I've, I'm Organizations: Big Tech, Service, Uber, Marble Lotus, Business, San, San Francisco Bay Area, Environmental, University of California, Mars, LinkedIn, Marble, Big, Entrepreneurs Locations: Delhi, India, San Francisco Bay, Berkeley, Mars Wrigley North America, COVID, Big Tech, Bay

☆ South Carolina death row inmate cites race of jurors in request for stay
▼ + stars: | 2024-10-31 | by ( Andy Rose | ) edition.cnn.com time to read: +6 min

Moore is the last person remaining on South Carolina’s death row to be convicted by a jury with no Black members, his defense attorneys say. “No other South Carolina death penalty case has involved an unarmed defendant who defended himself when the victim threatened him with a weapon,” they said in a statement. “He’s a human being who made mistakes,” Lyndall Moore told the AP. Moore’s attorneys responded Wednesday the case’s “unique procedural backdrop” should allow the justices to consider their arguments. Henry McMaster Meg Kinnard/APIn an earlier federal court request for a stay of execution, Moore’s attorneys expressed concern about McMaster’s past comments regarding clemency for death sentences, the ruling denying that request shows.

Persons: “, Richard Moore, Moore, James Mahoney, Mahoney, ”, Henry McMaster, ” Lyndall Moore, Trey Gowdy –, –, Gowdy, Gowdy’s, general’s, McMaster, Henry McMaster Meg Kinnard, … ” Organizations: CNN, US, Defense, Republican, Associated Press, Gov, AP, Supreme, GOP, Correctional Institution, Columbia . South Carolina Department of Corrections, Spartanburg Herald, South Carolina Gov, McMaster Locations: South Carolina, Spartanburg County, Carolina, Broad, Columbia .

☆ Starbucks CEO Brian Niccol: We're tracking down the sharpies
▼ + stars: | 2024-10-31 | 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 EmailStarbucks CEO Brian Niccol: We're tracking down the sharpiesStarbucks CEO Brian Niccol joins CNBC's Andrew Ross Sorkin to discuss the appeal of coffee, putting guardrails around drink customization, the company's menu plan, how the challenges at Starbucks compare to what he faced at Chipotle, the brand's future in China, 2024 election, and more.

Persons: Brian Niccol, Andrew Ross Sorkin Locations: Chipotle, China

Stellantis worker at work inside of the new Hybrid and PHEV Vehicles Stellantis Group eDCT Assembly Plant on April 10, 2024 in Turin, Italy. Auto giant Stellantis on Thursday reported a 27% decline in third-quarter net revenues, but said it was making headway in addressing operational issues such as U.S. inventories. The Netherlands-based company, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, said that net revenues for the July-September period came in at 33 billion euros ($35.8 billion). Analysts had expected third-quarter net revenues to come in at 36.6 billion euros, according to an LSEG-compiled consensus. Stellantis said it is set to reach its target of slimming down the U.S. stocks by 100,000 units by the end of November.

Persons: Stellantis Organizations: Vehicles, Auto, Dodge, Fiat, Chrysler, Peugeot, Analysts, U.S, Atlantic Locations: Turin, Italy, Netherlands, U.S, Milan, China

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