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☆ Teslas are the only EVs taking off in America: Mazda CEO
▼ + stars: | 2023-11-27 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Masahiro Moro told Fortune that EVs other than Tesla are "not taking off" in the US. EVs face a reckoning amid slowing demand with auto companies cutting spending and reducing targets. AdvertisementMazda's CEO has said that Tesla is the only company seeing real success in a fragile EV landscape, with other electric cars "not taking off." Other EVs are not taking off, inventory is piling up," he said. It recently killed off its only EV sold in the US, the Mazda MX-30, after reportedly selling just 66 of them this year .

Persons: Masahiro Moro, Fortune, Elon Musk's, —, Tesla, Elon, Ford, Moro Organizations: Service, US, Ford, General Motors, Mazda, EV, Atlas Public

Google's search engine earned its huge market share by almost instantaneously presenting people with helpful information culled from the billions of websites that have been indexed since former Stanford University graduate students Larry Page and Sergey Brin developed the technology during the late 1990s. These agreements don’t preclude users from switching to a different search engine in their settings, but it’s a tedious process that few people bother to navigate. “You get up in the morning, you brush your teeth and you search on Google,” Nadella said. “Google must think they getting a great benefit from those default agreements, but maybe they're really not worth that much,” Olson said. That would be ironic.”Although the trial is focused on Google's search engine, a government victory could have more sweeping consequences across the technology industry if Mehta decided all default settings are anti-competitive and outlaws all defaults in the settings.

Persons: it's, Judge Amit Mehta, Mehta, “, ”, Luther Lowe, Larry Page, Sergey Brin, Department's, Bing, Satya Nadella, ” Nadella, Bing —, Nadella, Florian Schaub, ” Schaub, Eddy Cue, David Olson, ” Olson, Siri Organizations: Google, U.S, Justice Department, Stanford University, Apple, Microsoft, University of Michigan, Verizon, Boston College Law School Locations: U.S, Europe

☆ Car buyers can get their EV tax credits up front at the dealership starting in January
▼ + stars: | 2023-10-06 | by ( Ella Nilsen | ) edition.cnn.com time to read: +2 min

CNN —People shopping for electric vehicles starting next year will be able to get a $7,500 federal tax credit off the sticker price while at the dealership, rather than having to wait months to receive their tax returns. The changes to how car buyers can get the federal tax break on EVs — part of the Inflation Reduction Act — were announced by the Biden administration on Friday, and are being rolled out to car dealerships before they take effect starting January 1. More foreign companies are building EV factories in the US in order to take advantage of the tax credits in the future. The Biden administration is currently contacting dealers with information on how they register with a new federal website to eventually offer consumers up-front tax credits. Car dealers will then be reimbursed by the government within 72 hours of selling the car, according to a Treasury news release.

Persons: Biden, ”, Laurel Blatchford, Ford Organizations: CNN, Treasury, “, IRS, General Motors, Volkswagen, George Washington University

PARIS (AP) — An afternoon of stardom, surprise and style reverberated in the heart of Paris Fashion Week on Saturday. As Andreas Kronthaler for Vivienne Westwood unfolded, it became clear: Fashion’s wild heart is alive and beating stronger than ever. The eccentric behind this show is no stranger to the spotlight, and it’s clear he’s carving his niche within the Westwood legacy. Political Cartoons View All 1190 ImagesDelving into Kronthaler’s history with Westwood, one can trace his growth. Anderson hailed Westwood as a “climate revolutionary,” expressing her deep respect for the designer’s proactive stance on climate change.

Persons: Andreas Kronthaler, Vivienne Westwood, Pamela Anderson, Christina Hendricks, he’s, Ariel, Westwood, PAMELA ANDERSON, VIVIENNE WESTWOOD, Anderson, ” Anderson, Stella McCartney, Chloe, “ Vivienne, Don’t, Louise Trotter, trailblazer Marie, Louise Carven, Ma Organizations: PARIS, Westwood, VIVIENNE WESTWOOD SHOW, Associated Press, trailblazer Locations: Paris, Vendome

☆ Amazon.com faces an array of US consumer, state antitrust lawsuits
▼ + stars: | 2023-09-26 | by ( Mike Scarcella | ) www.reuters.com time to read: +5 min

In the California case, Judge Ethan Schulman in San Francisco Superior Court in March ruled against Amazon's bid to dismiss the lawsuit. CONSUMERS' PRICE INFLATION CLAIMSAmazon faces a pair of consumer lawsuits in Seattle federal court. The consumer plaintiffs, Chun wrote, "allege the type of conduct that antitrust law is intended to prevent." E-BOOKSIn Manhattan federal court, a prospective class action from consumers accuses Amazon of artificially inflating the price of retail trade e-books on the site. U.S. District Judge Gregory Woods has not yet ruled on objections from Amazon and the plaintiffs to Figueredo's report and recommendation.

Persons: Benoit Tessier, Rob Bonta, Ethan Schulman, Amazon's, Schulman, Richard Jones, Jones, John Chun, —, Chun, Ricardo Martinez, Valerie Figueredo, Gregory Woods, Mike Scarcella, Chris Sanders, Matthew Lewis Organizations: REUTERS, U.S . Federal Trade Commission, Amazon.com, Big Tech, FTC, GENERAL, District of Columbia, Walmart, Costco, Amazon, San Francisco Superior Court, District, U.S, Thomson Locations: Bretigny, Paris, France, CALIFORNIA, WASHINGTON, GENERAL California, District, Washington ,, California, Columbia, San Francisco, Seattle, U.S, Maryland, Manhattan, Washington

☆ SEC investigating Illumina over acquisition of cancer test developer Grail
▼ + stars: | 2023-08-11 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The Securities and Exchange Commission is investigating Illumina over its controversial $7.1 billion acquisition of cancer test developer Grail, the DNA sequencing company said in a securities filing late Thursday. Last month, the SEC informed Illumina about the probe and requested documents and communications related to the deal. The company's market value has fallen to roughly $28 billion from around $75 billion the month the deal closed. Illumina's Grail deal has also faced heavy scrutiny from antitrust regulators in the U.S. and European Union. The European Commission, the EU's executive body, fined Illumina a record $476 million last month for closing the acquisition without first securing regulatory approval.

Persons: Illumina, That's, Carl Icahn Organizations: The Securities, Exchange Commission, SEC, Union, The European Commission, Illumina, U.S . Federal Trade Commission Locations: Illumina, San Diego , California, U.S

☆ Obama-era rules banning low-efficiency light bulbs are now in full force. You don't have to throw away your incandescents, but switching to LEDs could lower your utility bills.
▼ + stars: | 2023-08-02 | by ( David Hamilton | Associated Press | ) www.businessinsider.com time to read: +4 min

They effectively end the sale and manufacture of incandescent light bulbs. You don't have to throw away incandescent bulbs you already own, but switching could save you money. You can thank — or blame — new federal energy efficiency regulations that went into full effect Tuesday. Practical incandescent bulbs, which trace their origin to an 1880 Edison patent, can't meet those standards. How LED bulbs save energy and moneyIncandescent bulbs create illumination by running an electric current through a filament that heats it until it glows.

Persons: —, Thomas Edison, Obama, Donald Trump, Biden, Volodymyr Plysiuk Organizations: Service, FRANCISCO, Energy Department, Energy Information Administration, Getty Locations: Wall, Silicon

☆ Biden Administration Moves to Tighten Fuel Economy Rules
▼ + stars: | 2023-07-28 | by ( Coral Davenport | More About Coral Davenport | ) www.nytimes.com time to read: +3 min

That would be the equivalent of taking more than 233 million vehicles off the road from 2022 through 2050. “Better vehicle fuel efficiency means more money in Americans’ pockets and stronger energy security for the entire nation,” Transportation Secretary Pete Buttigieg said. The administration is aiming to ensure that two-thirds of all new passenger cars sold in the United States are all-electric by 2032, up from just 5.8 percent last year. Both agencies will take public comment on the rules, and then go back to the drawing board before issuing the final, legally enforceable rules next year. But, should a Republican win the White House in 2024, the new president could begin the legal process of rolling back the rules.

Persons: Pete Buttigieg, Biden’s, ”, Michael Gerrard Organizations: Transportation Department, Environmental Protection Agency, United, Columbia University, Transportation, Republican, White House Locations: United States

☆ US plans water heater standards, says they will save consumers $11 billion
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, July 21 (Reuters) - The U.S. Department of Energy on Friday proposed energy efficiency standards on water heaters it said would save consumers $11.4 billion on energy and water bills annually. The standards on residential water heater efficiency, which are required by Congress, have not been updated in 13 years. The proposal would require the most common-sized electric water heaters to achieve efficiency gains with heat pump technology and gas-fired water heaters to achieve efficiency gains through condensing technology. Tankless water heater maker Rinnai (5947.T), however, said the proposed standards for its products were "technologically impossible" and would reduce consumer choice. Former President Donald Trump, a Republican, complained about efficiency standards for shower heads, saying that they interfered with the rinsing of his hair.

Persons: Jennifer Granholm, Joe Biden, Donald Trump, Biden, Timothy Gardner, Nichola Groom, Alison Williams, Matthew Lewis Organizations: U.S . Department of Energy, Congress, DOE, Energy, Natural Resources Defense Council, Democrat, Republican, Energy Department, Thomson Locations: United States, Washington, Angeles

☆ Warren Buffett cashed in his monster bet on Microsoft buying Activision Blizzard - but left some money on the table
▼ + stars: | 2023-07-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett exited his wager on Microsoft buying Activision Blizzard last quarter, filings show. Buffett built a $5 billion Activision stake, wagering the stock would hit Microsoft's offer of $95. One of Buffett's deputies oversaw Berkshire's purchase of 14.7 million Activision shares in 2021. After Microsoft bid $69 billion for Activision in January 2022, Buffett scooped up nearly 50 million shares as an arbitrage. The good news has sent Activision stock up 11% this month to $93, less than 2% below Microsoft's offer price.

Persons: Warren Buffett, Buffett, He's, Berkshire Hathaway, he'd, Charlie Munger, Charlie, Munger, Warren Organizations: Microsoft, Activision Blizzard, Activision, Service, Securities and Exchange Commission, SEC, US Federal Trade Commission Locations: Wall, Silicon, British

[1/2] Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. Nonetheless, Microsoft, which makes the Xbox gaming console, has been seeking the contract extension to ensure that Activision is not wooed by another potential acquirer or has a change of heart, the source said. The terms of the extension under negotiation and whether it would come with more financially advantageous terms for Activision could not immediately be learned. Microsoft and Activision did not immediately respond to requests for comment. Microsoft and Activision are negotiating potential remedies with the Competition and Markets Authority (CMA) which they hope will appease its antitrust concerns.

Persons: Dado Ruvic, Anirban Sen, Matthew Lewis, Stephen Coates Organizations: Microsoft, Activision, REUTERS, Microsoft Corp, Competition, Markets Authority, CMA, Sony Group, Sony, U.S . Federal, Thomson Locations: Britain, U.S, New York

New York City's yellow taxis have been a symbol of the metropolis for decades. But taxi drivers only make up about 10% of the total driver landscape in the city — giving way to Uber and Lyft . In addition, to driving a taxi, drivers have to own or lease a medallion, which can cost a fortune. Prices subsequently tanked with the rise of Uber and Lyft which caused great anguish for drivers who owned their own medallion. Now, taxi drivers are fighting for space in the industry as they recover from the medallion crisis and COVID-19 pandemic.

Persons: it's, hailers, David Do Organizations: National Library of Medicine, New York, New York City Taxi, Limousine Commission Locations: York, New York City

☆ Charter will offer a cheaper cable TV option without sports to reflect changing landscape
▼ + stars: | 2023-07-10 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

A change-up is coming to Charter Communications ' cable TV packages -- particularly for sports networks. The cable and broadband company said Monday that it plans to start offering a new, two-tier cable package system that will allow customers to select a cheaper, sports-free TV option. Diamond Sports Group, the owner of the largest regional sports networks portfolio, filed for bankruptcy protection earlier this year. But they're often considered expensive for consumers and could turn off potential streaming customers. Beginning in the third quarter, the company said its Spectrum-branded cable TV business will be relaunched as two new services.

Persons: That's, they're, Tom Montemagno, Dan Finnerty Organizations: Communications, Charter Communications, Diamond Sports Group, Disney, ESPN, DirecTV, — Spectrum SportsNet, SportsNet, Lakers, Time Warner Cable, Monday, Dodgers, Spectrum Networks Locations: U.S

☆ Auto industry seeks to soften Biden vehicle emissions proposal
▼ + stars: | 2023-06-28 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

June 28 (Reuters) - The trade group representing nearly all major automakers wants the U.S. Environmental Protection Agency to soften its proposal to sharply cut vehicle emissions through 2032 saying it is "neither reasonable nor achievable." The EPA, which declined to comment immediately, said the proposed 2027-2032 standards would cut emissions by 56% compared to the existing 2026 requirements. The group called the proposal a "de facto battery electric vehicle mandate." The group said the EPA proposal "substantially underestimates the cost of batteries while overestimating the availability of consumer and manufacturing tax credits." Environmentalists are pressing the Biden administration not to soften the proposal.

Persons: Joe Biden's, Biden, David Shepardson, Howard Goller Organizations: . Environmental Protection Agency, Alliance, Automotive Innovation, General Motors, Volkswagen, Toyota, EPA, Thomson

☆ Microsoft and Activision Chiefs Testify Merger Will Benefit Consumers
▼ + stars: | 2023-06-28 | by ( Kellen Browning | ) www.nytimes.com time to read: +1 min

Satya Nadella, the chief executive of Microsoft, appeared in federal court on Wednesday to pledge his support for open platforms and consumer choice, underscoring the tech giant’s commitment to closing its $70 billion acquisition of Activision Blizzard over regulators’ objections. “If it was up to me, I would love to get rid of the entire ‘exclusives on consoles,’” Mr. Nadella testified, rebutting claims from tech regulators that Microsoft’s deal for the video game giant would curtail competition and restrict Activision’s games only to players on Microsoft’s Xbox console. “I have no love for that world.”The fourth day of a hearing in U.S. District Court in San Francisco that could determine the deal’s outcome was the highest-profile session, with appearances by Mr. Nadella and Activision’s chief executive, Bobby Kotick. The Federal Trade Commission’s challenge of the blockbuster acquisition, led by its chair, Lina Khan, is viewed as a test of whether more aggressive efforts to curb tech giants can be successful. is seeking a preliminary injunction that would prohibit the companies from closing the deal before the agency has the chance to argue its case in its internal court.

Persons: Satya Nadella, ’, Nadella, rebutting, Bobby Kotick, Lina Khan Organizations: Microsoft, Activision Blizzard, Federal Locations: U.S, San Francisco

☆ US lawmakers urge FTC to finalize new consumer protections for car buyers
▼ + stars: | 2023-06-22 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, June 21 (Reuters) - A group of 17 Democratic U.S. lawmakers on Wednesday urged the Federal Trade Commission to finalize new consumer protections for car buyers despite objections from auto dealers who argue the rules would actually raise the cost of buying a car. They argued that "unfair and deceptive practices involving motor vehicle dealers have widespread consequences." The lawmakers said the FTC should require dealers to provide a legally enforceable "Offering Price" "that includes all pre-installed and mandatory add-on products" and finalize regulations prohibiting specific misrepresentations, among other reforms. The FTC wants to ban fees for add-on products and services that provide no consumer benefits like "nitrogen-filled" tires that contain no more nitrogen than normal air. "Dealers also pack vehicle sales with mandatory and price-inflated add-ons, increasing the cost and creating further confusion and uncertainty about a vehicle’s ultimate price," the lawmakers wrote.

Persons: Ed Markey, Ron Wyden, Cory Booker, Brian Schatz, Elizabeth Warren, Richard Blumenthal, Pramila Jayapal, David Shepardson, Chris Reese, David Gregorio, Leslie Adler Organizations: Democratic U.S, Wednesday, Federal Trade Commission, FTC, Reuters, National Automobile Dealers Association, Center for Automotive Research, Alliance, Automotive Innovation, General Motors, Toyota, Volkswagen, Thomson

☆ Vodafone and Three merger faces scrutiny from competition regulators
▼ + stars: | 2023-06-15 | by ( Paul Sandle | ) www.reuters.com time to read: +5 min

The $19 billion tie-up will be scrutinised by Britain's Competition and Markets Authority, the antitrust regulator which made global headlines in April when it blocked Microsoft's $69 billion acquisition of "Call of Duty" maker Activision Blizzard. The long-awaited mobile deal reduces the number of networks from four to three, challenging a tenet long held by regulators that four help to keep prices low in major markets. "The government's desire to make the UK a 5G powerhouse requires a lot of investment," he said. One London-based investment banker, who declined to be named, said he put the chance of the deal receiving the green light from regulators at 50%. A major telecoms investor said the deal could be approved, but only with strong remedies, and that could risk undermining its rationale.

Persons: CK Hutchison, Activision Blizzard, Hutchison, Paolo Pescatore, Peter Broadhurst, Moring, James Gray, Sarah Cardell, Robert Finnegan, Gray, Paul Sandle, Amy, Jo Crowley, Sinead Cruise, Kate Holton, Emelia Organizations: Microsoft, Activision, Hutchison, O2, Vodafone, CK, HK, Britain's Competition, Markets Authority, Ofcom, European Commission, Foresight, Hutchison's, UK plc, Victoria, Crowell, CMA, Reuters, National Security and Investment, Britain's, Tesco Mobile, Telefonica, Thomson Locations: Hong Kong, Britain, Europe, China, London, Germany

☆ Social Security, Medicare reform fight shows divisions among Trump, DeSantis and Pence
▼ + stars: | 2023-06-08 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +9 min

DeSantis has since reversed himself, assuring in recent months that Republicans are "not going to mess with Social Security." Tens of millions of U.S. seniors depend on Social Security and Medicare benefits, and that number is growing as the population ages. Strong majorities of U.S. adults across the political spectrum consistently say they oppose cutting Medicare and Social Security benefits. But many others, including party leaders, have bristled at accusations that the GOP wants to gut Social Security and Medicare. "Social Security, I would do the same thing," he added.

Persons: Mike Pence's, Ron DeSantis, Pence, Donald Trump, Trump, Joe Biden, DeSantis, Trump pollster, Donald Trump's, Steven Teles, Teles, Andrew Caballero, reynolds, We're, Nikki Haley, South Carolina Sen, Tim Scott, meanwhile, Biden, Sen, Rick Scott, Mitch McConnell, Scott's, Kevin McCarthy, Steve Scalise, Elise Stefanik, Jonathan Ernst, Andrew Bates, Paul Ryan, Ryan, Mitt Romney's, Barack Obama, Lady Casey DeSantis, Peter Zay Organizations: Social Security, Republican, Florida Gov, GOP, Great Society, White, Republican Party, Johns Hopkins University, Niskanen, Team Trump Volunteer Leadership, Grimes Community, AFP, Getty, Social, Medicare's, Insurance, Former South Carolina Gov, Republicans, Senate, U.S . Rep, U.S, Capitol, Reuters, Anadolu Agency Locations: Grimes , Iowa, South Carolina, Ky, Washington , U.S, Congress, Lexington, SC

☆ Justice Department wins lawsuit to end JetBlue and American Airlines alliance
▼ + stars: | 2023-05-19 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —American Airlines and JetBlue Airways have to break up their alliance on Northeast US flight routes, a US District Court judge ordered Friday. US District Judge Leo Sorokin ruled in favor of the the Justice Department, giving the Biden administration a victory in its years-long lawsuit against the airlines’ collaboration. The airlines have 30 days to end their partnership, Sorokin ruled – just as the busy summer travel season kicks off. The Justice Department also alleged the two airlines shared revenues earned at these airports, eliminating their incentives to compete with one another. CNN has reached out to American Airlines, JetBlue and the Justice Department for comment.

India's antitrust body in October fined Google $275 million in two cases, which involved abusing its dominant position in the Android operating system market, and pushing developers to use its in-app payment system. "The ministry has to take action," Chandrasekhar said. India's competition watchdog has begun another inquiry into Google after Tinder owner Match Group (MTCH.O) and many startups alleged that a new service fee system Google uses for in-app payments breaches the competition commission's October decision. Google has previously said the service fee supports investments in the Google Play app store and the Android mobile operating system, ensuring it can distribute it for free. About 97% of India's 620 million smartphones run on Android, and the company counts India as a critical growth market.

Toyota forecast operating profit will rise to 3.0 trillion yen ($22.2 billion) this business year, in line with analysts' average forecast of 3.02 trillion yen. That target came operating profit for the fiscal fourth quarter through March surged more than a third to 626.9 billion yen - easily ahead of the average 553.46 billion yen profit estimated by 10 analysts, according to Refinitiv data. Reflecting the weak yen impact, revenue for the business year ended March 2023 grew to a record 37.15 trillion yen. EV ACCELERATIONThe new EV sales target, still a fraction of industry leader Tesla (TSLA.O), would boost Toyota's battery EVs to nearly 2% of total sales volume, up from just 0.4% of its total vehicle sales in the last fiscal year. "We expect an increase in (overall) sales volume in all regions and production volume of 10.1 million (vehicles), due to such factors as ... improvement in semiconductor supply," Toyota said in a statement.

While other automakers like Volkswagen AG (VOWG_p.DE) have also been caught out by the sharp shift in China, Japanese automakers stand out because of their limited showing in the fast-growing category of electric and plug-in hybrid sales. Mitsubishi, like some other Japanese automakers, does not break out China sales figures. Industry data analysed by Reuters showed its first-quarter sales in China fell by 58% from a year earlier. Nissan Motor Co Ltd (7201.T) posted a 45.8% drop in China sales and Mazda Motor Corp (7261.T) sales were down 66.5% in the first quarter. "Japanese automakers could face a similar struggle in the United States as in China," he said.

☆ UK new car sales jump 18% YoY in March; best ever month for EVs
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

April 5 (Reuters) - New car registrations in the UK rose for the eighth consecutive month in March, recording an 18.2% growth from a year earlier, and also marked the best month ever for battery electric car sales, according to industry data released on Wednesday. The Society of Motor Manufacturers and Traders (SMMT) said new car registrations jumped to 287,825 units as supply chain challenges continued to ease, making the first quarter of 2023 the strongest three-month period since 2019. Battery electric vehicle (BEV) sales reached a record monthly high of 46,626, representing 18.6% year-on-year growth, while petrol-powered vehicles remained the most popular fuel type, comprising 56.3% of new units in March. John Wilmot, CEO of car leasing comparison website LeaseLoco, said in a note that it would be foolhardy to declare the car industry is out of the woods just yet, as current reported numbers were still well below pre-Covid levels. Reporting by Sinchita Mitra and Aby Jose Koilparambil in Bengaluru; Editing by Shweta Agarwal and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

☆ Carl Icahn says Illumina’s appeal of FTC order to divest Grail is ‘an almost impossible battle’
▼ + stars: | 2023-04-05 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Carl Icahn on Wednesday said Illumina 's efforts to appeal a Federal Trade Commission order to divest the highly contested Grail acquisition "is an almost impossible battle." Illumina on Monday told CNBC it intends to appeal the FTC's order in federal court, and will seek an expedited decision. The FTC's order reverses an administrative judge's September ruling, which dismissed the commission's initial challenge to the Grail deal. The company last year appealed a similar order by European Union regulators to unwind the Grail deal. The company on Wednesday said in a statement to CNBC that it has a "strong case on appeal" of the FTC's order.

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