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☆ The new F-150 and 8 other cool things we saw at the Detroit auto show
▼ + stars: | 2023-09-16 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +1 min

The North American International Auto Show kicked off in Detroit this week. While it looks different than it used to, automakers brought a lot to the show. Here are nine things that stood out to Insider reporters this year. The Detroit show looks a lot differently than it used to. Here are the nine things that stood out to Insider this year.

Persons: Ford Organizations: North American, Service, American, United Auto Workers union, Motor, General Motors, Toyota Locations: Detroit, Wall, Silicon, Motor City

☆ Ford CEO says UAW proposal could force bankruptcy
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

Ford Motor President and CEO Jim Farley attends the press day of the North American International Auto Show in Detroit, Michigan, U.S. September 13, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsSept 14 (Reuters) - Ford Motor (F.N) Chief Executive Jim Farley said Thursday the United Auto Workers union proposal to hike wages by 40%, cut workweeks and add new pension benefits could bankrupt the company. "You want us to choose bankruptcy over supporting our workers," Farley, in a CNBC interview, said of the UAW proposal. Farley said if the UAW proposal had been in effect since 2019, instead of making about $30 billion in profits over four years, the company would have lost about $15 billion "and gone bankrupt by now." Reporting by David Shepardsond; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Farley, Rebecca Cook, Farley, David Shepardsond, Jonathan Oatis Organizations: Ford Motor, North American, REUTERS, Ford, United Auto Workers, CNBC, UAW, Thomson Locations: Detroit , Michigan, U.S

☆ U.A.W. Strike Looms Over Detroit Auto Show
▼ + stars: | 2023-09-14 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

He added that workers at all three companies were prepared to strike and stay away from their factory stations as long as it took to win big gains. But a prolonged strike would almost certainly jeopardize the automakers’ plans to roll out new cars and trucks to take advantage of still strong demand. The auto industry has spent much of the last three years struggling to produce enough vehicles because of pandemic shutdowns and supply chain chaos. Those other automakers operate U.S. plants that use nonunion workers and their production is unlikely to be affected directly by the strike. The Detroit show, officially the North American International Auto Show, was once one of the premier auto expositions in the world.

Organizations: North American Locations: Texas, Detroit, Michigan

☆ Insider Today: Apple's new iPhone is here
▼ + stars: | 2023-09-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

This post originally appeared in the Insider Today newsletter. But the show's real stars were the new versions of Apple's iPhone and Apple Watch. But if you were hoping a new iPhone will send Apple's stock soaring, think again. Prior to Tuesday's event, Apple's shares fell an average of 0.2% on days a new iPhone was announced, according to Barron's. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Bond, Elon Musk's, Justin Sullivan, Octavia Spencer, Tim Cook, Max, Insider's Sarah Jackson, Jordan Hart, Lakshmi, iPhones, Gary Coronado, Jamie Dimon, — Warren Buffett —, Bill Gross, DoubleLine's Jeffrey Gundlach, Pimco, DoubleLine's, Gross, Anna Moneymaker, Thomas Trutschel, isn't, Sundar Pichai, Elon, Walter Isaacson, Read, Kent Walker, Chelsea Jia Feng, Patreon, Naomi Osaka, Shaquille O'Neal, Allegra, Dayquil, Jennifer Aniston, Reese Witherspoon, Yelp, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Jets, Apple, Apple Watch, Getty, Bloomberg, JPMorgan, Wall, Google, Software, Amazon, FDA, North American, Detroit Auto, GMC, Bourbon Locations: Wall, Silicon, Milwaukee, Lakshmi Varanasi, ., China, that's, Latvia, Estonia, Chelsea, Colorado, Arizona, Morocco, New York City, San Diego, London, New York

All-new: 2024 GMC Acadia The show's one big new model reveal came as General Motors unveiled the completely redesigned 2024 GMC Acadia on Wednesday morning. 2024 GMC Acadia GMProduction of the 2024 Acadia is expected to begin early next year at a plant in mid-Michigan, with vehicles slated to hit dealer showrooms during the first quarter. The company revealed its refreshed 2024 F-150 pickup truck lineup Tuesday night to a large crowd in downtown Detroit, not far from the show floor. Jeep unveiled a refreshed 2024 version of its Gladiator pickup in Detroit on Sep. 13, 2023. Not surprisingly, the Gladiator's new grille is very similar to the revamped grille that the Wrangler itself will be sporting for the 2024 model year.

Persons: it's, Duncan Aldred, wasn't, Ford, Jim Farley, John Emmert, Motors, Cadillac, Alex MacDonald, Gladiator, Stellantis, Jim Morrison Organizations: DETROIT, Detroit, United Auto Workers, Detroit Auto, North American, CNBC, General Motors, Acadia, GMC, GMC Acadia GM, GM, Chevrolet Traverse, Buick, CT5, Cadillac CT5, Google, Jeep, Apple Locations: Acadia, Michigan, U.S, Yukon, Detroit, Toledo ., North America

☆ Ford to replace rear cameras in new recall, take $270 million charge
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: +1 min

Ford Motor said on Friday it will recall 169,000 U.S. vehicles to replace rearview cameras and update software and is taking a $270 million charge to address the callback. It was the latest in a series of recalls for rear camera-related recalls by the No. The Detroit automaker in May issued a recall of 422,000 vehicles in the United States because the rearview camera display might fail following an earlier camera recall in January of 462,000 vehicles worldwide. Ford said in the latest recall it has 3,486 warranty reports alleging rear camera failures and reports of two minor crashes but no injuries. Since 2021, NHTSA has been investigating if Ford delayed a 2020 recall of 620,000 vehicles for a rear camera issue and if it recalled enough vehicles.

Persons: Ford Organizations: Ford, Co, Auto, Ford Motor, Detroit, Traffic Safety Administration, Bronco, Securities and Exchange Commission, NHTSA Locations: Detroit , Michigan, U.S, United States

☆ Factbox: Stocks to watch as Hurricane Idalia makes landfall in Florida
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

Hurricane Idalia hits Florida's west coast in a composite image from the National Oceanic and Atmospheric Administration (NOAA) GOES-East weather satellite August 30, 2023. NOAA/Handout REUTERS Acquire Licensing RightsNEW YORK, Aug 30 (Reuters) - Millions of Florida residents evacuated to higher ground after Hurricane Idalia, an "extremely dangerous" Category 3 storm, made landfall on Wednesday at the state's Gulf Coast. Idalia was forecast to unleash destructive winds and torrential downpours that will cause coastal flooding up to 16 feet (5 m) deep. An early news briefing by Florida Governor Ron DeSantis was interrupted for a few seconds by a power cut. Shares of NextEra Energy (NEE.N), which owns the Florida Power & Light Company, the state's largest utility, was little changed at $67.51.

Persons: Idalia, Ron DeSantis, Kinder Morgan, Owens Corning's, Chibuike Oguh, Lance Tupper, Marguerita Choy Organizations: National Oceanic, Atmospheric Administration, NOAA, Handout REUTERS, Florida, NextEra Energy, Florida Power & Light Company, Duke Energy, Generac Holdings, Chevron, Universal Insurance Holdings, Allstate Corporation, American International, Home, Lowe's, Thomson Locations: Florida, Gulf Coast, Idalia, Georgia, South Carolina, U.S, Gulf, Mexico, New York

☆ Factbox: Stocks to watch as Idalia makes landfall in Florida
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

Electric power transmission pylon miniatures and Nextera Energy logo are seen in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Aug 28 (Reuters) - Florida is bracing for Tropical Storm Idalia as it intensifies into a major hurricane on Monday before making landfall on the state's Gulf Coast by Wednesday morning. About 20 million Floridians are under hurricane and tropical storm watches, and authorities have begun issuing evacuation orders. Shares of NextEra Energy Inc (NEE.N), which owns the Florida Power & Light Company, the state's largest utility, was little changed at $68.06, up 0.154%. Reporting by Chibuike Oguh in New York; editing by Lance Tupper and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Idalia, Here's, Ron DeSantis, –, Owens Corning, Chibuike Oguh, Lance Tupper, Nick Zieminski Organizations: REUTERS, Simpson, National Hurricane Center, POWER Florida, NextEra Energy Inc, Florida Power & Light Company, Duke Energy Corp, Generac Holdings, Universal Insurance Holdings, Allstate Corporation, American International, Home, Lowe's, Thomson Locations: Florida, Coast, Big, New York

☆ Stocks to watch as Idalia makes landfall in Florida
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Aug 28 (Reuters) - Florida is bracing for Tropical Storm Idalia as it intensifies into a major hurricane on Monday before making landfall on the state's Gulf Coast by Wednesday morning. Idalia is predicted to transform into a Category 3 on the Saffir-Simpson Hurricane Wind Scale when it makes landfall in northern Florida's Big Bend area, where the panhandle transitions into the peninsula, the National Hurricane Center said. About 20 million Floridians are under hurricane and tropical storm watches, and authorities have begun issuing evacuation orders. Shares of NextEra Energy Inc (NEE.N), which owns the Florida Power & Light Company, the state's largest utility, was little changed at $68.06, up 0.154%. Duke Energy Corp (DUK.N) said on Monday it is mobilizing approximately 4,500 people - power line technicians, vegetation workers, damage assessors and support personnel – to respond to power outages as Idalia reaches Florida.

☆ The looming crisis that's going to crush homeowners from coast to coast
▼ + stars: | 2023-08-23 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +16 min

To maintain profitability, insurance companies have to take in more in monthly premium payments from customers than they pay out in damage claims. This has prompted insurance companies to back out of certain markets or pressure states to raise caps on premiums. Without robust rate caps such as those in California, insurance costs have risen by over 200% while DeSantis has been in office. He also signed legislation in December that protects insurance companies from liability claims and disincentivizes homeowners from filing claims to begin with. Despite these policies, insurance prices have continued to go up and insurers have continued to flee the market.

Persons: Cinda Larimer, Larimer's, Larimer, Anthony Roach, Larimer's who's, I've, Roach, Chubb, Justin Sullivan, Benjamin Keys, Anita Waters, Waters, Ron DeSantis, DeSantis, Desantis, Hurricane Ian, Dale, Deb Weideling, they've, Keys, Philip Mulder, Jeffrey Greenberg, Jeff Goodell, Xavier Cortada, I'm, Cortada, we're, Betsy, Cinda Larimer wasn't, , haven't, Taylor Dorrell Organizations: Navy, Insurance, Rush, Allstate, American International Group, University of Pennsylvania's Wharton School, US Army Corps of Engineers, . Farmers Insurance, AAA, Washington Post, National Bureau of Economic Research, US Treasury, Universal, Getty, Miami, Dakotas, Nationwide, Penn, National Flood Insurance, FAIR, Bay Area Locations: Paradise , California, Paradise, Sacramento, California, , California, . State, Florida, South Carolina, South Florida, Fort Myers Beach, Hurricane, In Miami, States, Louisiana , Oregon, Colorado, Hawaii, Coast, Minnesota, Midwest, Bay, Columbus , Ohio

☆ Insurer AIG profit beats estimates on gains in life and retirement unit
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File PhotoAug 1 (Reuters) - American International Group (AIG.N) exceeded second-quarter profit expectations on Tuesday, driven by growth at its life and retirement unit and lower-than-expected catastrophe losses in what was a very expensive quarter for the industry. AIG, one of the world's biggest commercial insurers, said net premiums written in its general insurance arm for the quarter ended June grew 10% to $7.5 billion. AIG's life and retirement unit saw a 42% jump in premiums and deposits, partly helped by record sales in fixed index annuities. AIG's general insurance accident year combined ratio was 88%, compared with 88.5%, a year earlier. The metric excludes catastrophe losses and a ratio below 100 signifies that the insurer earns more from premiums than it pays out in claims.

Persons: Brendan McDermid, Mawar, Gallagher, Noor Zainab Hussain Organizations: AIG, REUTERS, American International, Companies, Thomson Locations: New, New York, Guam, United States, Bengaluru

☆ Vlatko Andonovski: US coach hits back at criticism of team after draw against Portugal
▼ + stars: | 2023-08-01 | by ( George Ramsay | Tara Subramaniam | ) edition.cnn.com time to read: +6 min

CNN —US coach Vlatko Andonovski said it was “insane” for anyone to question the team’s commitment as he responded to criticism from former American international soccer star Carli Lloyd. “Everyone is entitled to opinion and, you know, they can say whatever they want, but I just know how this team feels,” he added. “We know that it’s not good enough … We’re not happy with our performance, but we qualify for the next round. “The performances aren’t where we want them,” experienced forward Megan Rapinoe, who came on as a second-half substitute against Portugal, told reporters. It’s clear, as the players themselves know, that things haven’t clicked for Andonovski’s team yet.

Persons: Vlatko Andonovski, Carli Lloyd, “, Lloyd, ” Andonovksi, ”, Ana Capeta, “ It’s, We’re, ” Megan Rapinoe, Buda Mendes, What’s, Megan Rapinoe, haven’t, ” Alex Morgan, Inês Pereira, Carmen Mandato, Alex Morgan, Kelley O’Hara –, Sophia Smith, Julie Ertz, it’s, ” What’s, Andonovski, ” Morgan, we’ll, Jéssica Silva, Kim Price, Rose Lavelle, Lindsey Horan, You’re Organizations: CNN, American, FOX, Portugal, Vietnam, FIFA, USSF, Getty, Cal Sport Media, US Locations: Portugal, Auckland, , New Zealand, Sweden, Buda, Netherlands

☆ A key test for EV sales and the adoption curve is coming
▼ + stars: | 2023-07-30 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

The company says it will reach 400,000 cumulative units of EV production by early 2024 and that its EV business will reach profitability by 2025. "They have dozens of EV models over the next two to three years. watch nowAmong analysts who believe the stock is due for a bigger drop, expected EV sales disappointment is among the factors. But GM's EV plans come as Ford announced it is slowing down its plans to expand EV production to a 600,000 annual rate. "This will be the first year U.S. EV sales reach 1 million," Downey said.

Persons: Scott Mlyn, Brian Downey, Autotrader, Ford, Dan Ives, It's, they'll, Morgan Stanley, Adam Jonas, Mary Barra, Adam Jones, Colin Langan, Garrett Nelson, Chad Lyons, Lyons, Katie Minter, Rebecca Cook, Reuters Paul Jacobson, Jacobson, Ives, Downey, Tesla, Barra, they're, they've, Cox, Goodcarbadcar.net . Ford Organizations: Silverado, New York Auto Show, CNBC, General Motors, Cox Automotive, Kia, Porsche, Hyundai, Chevrolet Silverado, Wedbush Securities, Investors, GM, United Auto Workers union, Wall Street, Deutsche Bank, GMC Hummer EV, Chevy Silverado, GMC Sierra EV, Chevy Blazer, GMC, Blazers, Jaguar, Audi, North American, Reuters, EV, Cox, Ford's, Ford, Goodcarbadcar.net, Volkswagen, BMW – Locations: Detroit, Detroit , Michigan, U.S

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

☆ Tesla created secret team to suppress thousands of driving range complaints
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: +19 min

He expected to get something close to the electric sport sedan's advertised driving range: 353 miles on a fully charged battery. The directive to present the optimistic range estimates came from Tesla Chief Executive Elon Musk, this person said. Driving range is among the most important factors in consumer decisions on which electric car to buy, or whether to buy one at all. Electric cars can lose driving range for a lot of the same reasons as gasoline cars — but to a greater degree. Independent automotive testers commonly examine the EPA-approved fuel-efficiency or driving range claims against their own experience in structured tests or real-world driving.

Persons: Daniel Acker, Alexandre Ponsin, Tesla, Elon Musk, Elon, Scott Case, Case, Gregory Pannone, Pannone, carmaker, Ford, Jonathan Elfalan, Edmunds, Elfalan, They've Organizations: Tesla Motors Inc, North American, Bloomberg, Getty, Reuters, Tesla, South, Environmental Protection Agency, EPA, Ford, Chevrolet, Hyundai Kona, National Science Foundation, SAE International, U.S, Porsche, Benz, EV, Independent, General Motors, Hyundai, Korea Fair Trade Commission, Service Locations: Detroit , Michigan, Colorado, California, Las Vegas, Austin , Texas, Nevada, U.S, Seattle, Vegas, Henderson, Utah

The Bolt does not align with GM's long-term EV technology strategy, but it is the Detroit automaker's best-selling and most affordable EV in North America, by far. Barra and GM officials did not say how much the new Bolt would cost or where it would be built. For GM, the Bolt has been the mainstay for its North American EV sales. In the first six months of this year, U.S. Bolt sales totaled 33,659 vehicles, outselling Ford's Mustang Mach-E, Hyundai's Ioniq 5 and other EVs from established automakers. Bolt sales rebounded this year after GM was forced to halt production of the car for nearly six months to fix problems linked to battery fires.

Persons: Rebecca CooK, Mary Barra, Barra, Sam Fiorani, EVs, Sandy Munro, Elon Musk, Fiorani, Bolt, Paul Lienert, Joseph White, Nick Zieminski Organizations: North American, REUTERS, General Motors, Chevrolet Silverado EV, Chevrolet, Detroit, GMC Hummer EV, GM, AutoForecast Solutions, Barra, Bolt, Munro & Associates, UAW, Thomson Locations: Detroit , Michigan, U.S, North America, United States, Ohio, Michigan, Orion, Detroit

☆ U.S. House committees investigate Ford Chinese battery partnership
▼ + stars: | 2023-07-21 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermid/File PhotoWASHINGTON, July 21 (Reuters) - Two U.S. House of Representatives committees said Friday they are investigating Ford Motor Co's (F.N) partnership with Chinese battery company CATL (300750.SZ). Ford announced in February it is spending $3.5 billion to build a battery plant in Michigan using technology from CATL, the world's largest battery maker. The committees said several hundred of the 2,500 Ford plant jobs will be filled by CATL employees from China who will be in charge of setting up and maintaining equipment. Ford still is awaiting guidance from the U.S. Treasury to ensure the partnership does not run afoul of the requirement. Republican Senator Marcio Rubio has urged the Biden administration to investigate the deal and introduced legislation that seeks to bar consumer tax credits for EVs produced using CATL technology.

Persons: Brendan McDermid, Jason Smith, Mike Gallagher, Ford, CATL, Marcio Rubio, Biden, EVs, David Shepardson, Jonathan Oatis, David Holmes Organizations: North American, REUTERS, WASHINGTON, House, Ford Motor, Ford, Chinese Communist Party, U.S . Treasury, Republican, Thomson Locations: Detroit , Michigan, U.S, Michigan, CATL, China, United States, Xinjiang, Beijing

NEW YORK/LONDON, July 11 (Reuters) - One of the world's top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to three people familiar with the matter. Prices for U.S. property catastrophe reinsurance rose by as much as 50% at a key July 1 renewal date, broker Gallagher Re said in a recent report. AXA has been trying to reduce the exposure of its AXA XL property and casualty (P&C) division - which houses XL Re - in an effort to make earnings more predictable. This has caused the reinsurance business to shrink, with revenues dropping by nearly a third last year to $3.2 billion, according to AXA's 2022 accounts. In May, American International Group (AIG.N) agreed the sale of its reinsurance arm Validus Re for roughly $3 billion, or about 1.4 times the unit's book value.

Persons: Reinsurers, Hurricane Ian, Gallagher Re, David French, Pablo Mayo, Amy, Jo Crowley, Carolyn Cohn, Echo Wang, Silvia Aloisi, John O'Donnell, Conor Humphries Organizations: AXA SA, XL, Covea, AXA, AXA XL, American International, Fidelis Insurance Holdings, Reuters, Hamilton Insurance, Pablo Mayo Cerqueiro, Thomson Locations: Bermuda, New York, London, Paris

Recessions haven't always resulted in declining stock markets, and good opportunities can be found amid them. Sectors for recession naysayersThe best sectors for recession disbelievers are the most economically sensitive ones: industrials, materials and financials. Well-positioned companies with good growth prospects currently include: Corteva, Dow Chemical, Ecolab, Linde plc, Martin Marietta Materials, Nucor Corp., PPG Industries and Sherwin-Williams. Currently buyable names include: Campbell Soup Co., General Mills, The Hershey Co., Kellogg's, Kimberly-Clark Corp., Kroger, Procter & Gamble and Walmart. Sector names with reasonable risk levels and good growth prospects include: Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc., Veeva Systems Inc., IQVIA Holdings Inc., Cigna Group and Zoetis Inc.

Persons: Sherwin, Williams, Mayur, Martin Marietta, JPMorgan Chase, Rowe Price, Willis Towers Watson, Campbell, General Mills, Clark, Willie B, Thomas, Digitalvision Organizations: Westend61, University of Michigan Consumer, Investors, Westinghouse Air Brake Co, Cummins Inc, CSX, Emerson Electric, Otis Worldwide, Carrier, Caterpillar, Honeywell, Illinois Tool, Lockheed Martin Corp, Dow Chemical, Ecolab, Linde plc, Martin, Martin Marietta Materials, Nucor Corp, PPG Industries, XLF, JPMorgan, Rowe Price Group Inc, American International Group, Allstate, The, McLennan, Sectors, Co, Hershey Co, Clark Corp, Kroger, Procter, Gamble, Walmart, Getty Images Health, iShares U.S, Medical Devices, Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc, Veeva Systems Inc, IQVIA Holdings Inc, Cigna, Zoetis Inc Locations: American, The Hartford, Marsh, Kimberly

☆ Lincoln MKC owners asked to park outside due to fire risk
▼ + stars: | 2023-06-02 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +1 min

CNN —Ford, the parent company of Lincoln, and the National Highway Traffic Safety Administration are warning owners of nearly 143,000 Lincoln MKC compact SUVs to park them outside and away from buildings and other vehicles because they could potentially catch fire, even when not running. A Lincoln MKC at the North American International Auto Show in 2014. Stan Honda/AFP/Getty ImagesThe vehicles involved are model year 2015 through 2019 Lincoln MKC SUVs. Owners will be advised by mail to park their vehicles outside and away from other vehicles. Owners can also visit NHTSA’s SaferCar.gov website and enter their vehicles Vehicle Identification Number (VIN) to see if it’s involved in the recall.

Persons: CNN — Ford, it’s, Lincoln, Stan Honda, NHTSA’s Organizations: CNN, National, Traffic, Lincoln, North American, Getty, Ford Locations: Lincoln, AFP, MKCs, North America

☆ Insurer AIG exceeds profit estimates on strong underwriting gains
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

May 4 (Reuters) - American International Group Inc (AIG.N) beat market estimates for first-quarter profit on Thursday, as record underwriting gains cushioned the blow from lower alternative investment returns. AIG, one of the world's biggest commercial insurers, said net premiums written in its general insurance for the quarter ended March grew 5% to $6.97 billion. Total consolidated net investment income rose 9% to $3.5 billion, partially offset by lower alternative investment income, AIG said. The New York-based company's general insurance underwriting income rose 13% to $502 million, its strongest first-quarter underwriting results, the insurer said. The general insurance accident year combined ratio was 88.7%, compared with 89.5%, a year earlier.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Why GM is killing the Chevy Bolt — America's cheapest EV — amid record sales
▼ + stars: | 2023-04-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNTA Chevrolet Bolt EUV on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBCDETROIT — After years of lackluster performance and a fire-provoked recall, the all-electric Chevrolet Bolt EV was finally gaining traction for General Motors . The Bolt EV would start at $26,595, followed by the Bolt EUV at $28,195. A 2019 Chevrolet Bolt EV caught fire at a home in Cherokee County, Georgia on Sept. 13, 2021, according to the local fire department. Cherokee County Fire DepartmentStill, GM touted the Bolt EV as proof of the concept for its electric-powered future.

☆ Markets next week have to contend with how aggressive the Fed drumbeat sounds
▼ + stars: | 2023-04-28 | by ( Scott Schnipper | ) www.cnbc.com time to read: +8 min

"Is Chairman Powell going to say, 'It is likely that we pause now and assess what the economy is going to do?' "The tone on that balance is going to be very critical to how the market is going to move next week." "What is [Powell] going to do? June Fed meeting The betting on Wall Street right now is that, after next week, the Fed will standpat at its next meeting six weeks later, on June 13-14. Beyond Apple, some 161 other companies in the S & P 500 index are scheduled to report latest-quarter results next week.

Dividend stocks may be the way to go for investors as a recession becomes more likely, according to UBS. Dividend stocks on average outperformed the market by 4.5% during the 2001, 2008 and 2020 recessions, the bank said. "Dividend stocks can provide a margin of safety during uncertain times." Given this backdrop, UBS highlighted a slew of dividend stocks with big upsides, based on the bank's price targets. Analysts also forecast three-year dividend growth that's at least in the mid-single digits, in addition to sustainable payout ratios.

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