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He ordered up an economic analysis and spoke to company officials about the plant, according to White House officials. On Thursday, Biden will visit Belvidere to showcase that same auto plant, which has reopened as part of the settlement of a targeted strike by the United Auto Workers union. O'Malley Dillon said the UAW contracts and the auto plant reopening reflect a larger focus on workers by the president. The contracts, if approved by 146,000 union members in the coming weeks, would dramatically raise pay for auto workers. Top assembly plant workers would earn roughly $42 per hour.

Persons: Joe Biden, Biden, he's, ”, Jen O’Malley Dillon, White, O'Malley Dillon, Donald Trump, Gene Sperling, Trump, Shawn Fain, J.B . Pritzker, Stellantis Organizations: WASHINGTON, Biden, White, United Auto Workers, Dodge, UAW, Labor, White House, Illinois Gov, Motors, Ford, Republican Locations: Chicago, Belvidere, China, United States

☆ Mike Johnson is the first Republican House speaker from the South since Newt Gingrich, putting the region back in the driver's seat of GOP politics
▼ + stars: | 2023-10-29 | by ( John L. Dorman | ) www.businessinsider.com time to read: +6 min

Rep. Mike Johnson's ascent to the House speakership last week took most in the GOP by surprise. He's now the first House speaker from the South since Newt Gingrich held the gavel in the 1990s. "This happened sort of suddenly," the Louisiana Republican said last Wednesday after succeeding Rep. Kevin McCarthy of California as speaker and as the new leader of the House GOP conference. Rep. Mike Johnson takes the oath of office to become the next House speaker on October 25, 2023. Challenges to Republican-drawn congressional districts across the South could give Democrats a significant opening to flip the House in 2024.

Persons: Mike Johnson's, He's, Newt Gingrich, —, couldn't, Kevin McCarthy of, Johnson, Bill Clinton, Sen, Mitch McConnell, Joe Biden, Mike Johnson, Alex Brandon Cue McConnell, Steve Scalise, Gingrich —, Drew Angerer, Gingrich, Donald Trump, Kim Chandler, McCarthy Organizations: GOP, Service, Louisiana Republican, Southern Republican, Republican, White House, House Republicans, AP, Democratic, Kentucky Locations: Washington, Louisiana, Kevin McCarthy of California, Georgia, Kentucky, Southern, Ukraine, New York, Chicago, Denver, Johnson's, Kim Chandler In Alabama, Black, Alabama's, Florida, Arkansas, South Carolina , Tennessee

☆ Jim Cramer says Amazon is firing on all cylinders, but urges patience on stumbling Ford
▼ + stars: | 2023-10-27 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Dow, Jim Cramer's, Jim, that's, —, Patience Organizations: CNBC, Microsoft, Nasdaq, Amazon, Services, United Auto Workers Locations: oversold, Michigan

☆ Li Keqiang, Former China Premier Sidelined by Xi Jinping, Dies at 68
▼ + stars: | 2023-10-26 | by ( James T. Areddy | Chun Han Wong | ) www.wsj.com time to read: 1 min

China’s former premier, Li Keqiang , whose efforts to retool his country’s economy faltered under the dominance of top leader Xi Jinping , died Friday after suffering heart failure, state media said. Li, who served a decade as premier until March, was in Shanghai when he experienced a sudden heart attack on Thursday, the official Xinhua News Agency said in a brief report.

Persons: Li Keqiang, Xi Jinping, Li Organizations: Xinhua News Agency Locations: Shanghai

☆ Tesla downshifts out of ludicrous mode
▼ + stars: | 2023-10-19 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

The Model Y maker’s gross and operating profit margins were once the envy of the entire American automotive industry. As Tesla began rolling more vehicles off the production line than it could sell, however, Musk repeatedly offered discounts to rev demand. Even setting aside tough financial comparisons because of the factory shutdowns needed to retool its best-selling vehicles, progress has been sluggish. Tesla’s gross margin at its core automotive business, adjusting for regulatory credits, has fallen nearly in half, to 16.3%, according to the latest quarterly results released on Wednesday. Tesla sold just a hair under half of all U.S. battery-powered rides in the third quarter, according to Cox Automotive, down from 75% in early 2022.

Persons: BYD, Elon Musk, Tesla, Musk, they’re, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, U.S, HK, General Motors, Ford, Cox Automotive, Reuters Graphics, Thomson Locations: Detroit, United States, China, Shanghai

☆ Here’s why Biden can’t do much to prevent an auto strike
▼ + stars: | 2023-09-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

New York CNN —President Joe Biden may hope the United Auto Workers union will not strike the nation’s three unionized automakers. Biden doesn’t have the legal authority he would have if a freight railroad or airline was threatening to strike. Joe Biden speaks at the United Auto Workers union hall in Warren, Michigan, during the 2020 presidential campaign. And UAW President Shawn Fain vows the union is ready to strike all three if there aren’t agreements by the 11:59 pm ET contract expiration on September 14. President Joe Biden after touring the General Motors' electric vehicle assembly plant in Detroit in November 2021.

Persons: Joe Biden, Biden doesn’t, Jim Watson, Shawn Fain, Biden Fain, Biden, Jonathan Ernst, ”, Fain, Joe Biden’s, ” Biden, “, ” Fain, Biden’s, Gene Sperling, Julie Su, — Organizations: New, New York CNN, United Auto Workers, UAW, General Motors, Ford, Jeep, Dodge, Chrysler, UPS, Anderson Economic Consulting, GM, Getty, EV, Reuters, SK, White, ICE, Labor, CNN, AFL, CNBC, Teamsters, Congress Locations: New York, West Coast, Michigan, Warren , Michigan, AFP, Southern, Detroit

☆ VCs don't care as much about Y Combinator's Demo Day anymore
▼ + stars: | 2023-09-06 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +5 min

Y Combinator's Demo Day used to be the hottest in-person early-stage event in Silicon Valley. For early-stage venture capitalists, few days on the calendar used to compare to Y Combinator's biannual Demo Day. "All of the funds try to go meet the best YC companies before Demo Day," the same investor told Insider. When asked about startups raising before Demo Day, Y Combinator president and CEO Garry Tan told Insider in an emailed statement that "lots of the best companies raise at Demo Day and after." "Coinbase, Instacart, Whatnot, Rappi, Airbyte, Retool — you could have gotten into their rounds at Demo Day.

Persons: It's, Erik Bruckner, Y, Garry Tan, it's, Bruckner, They're, Y Combinator, Jeff Weinstein, Combinator, Tan, haven't Organizations: YC, Bruckner Ventures, FJ Labs Locations: Silicon Valley, Columbus , Ohio

Biden's Labor Day prediction that the union would not strike against Detroit's automakers ahead of a Sept. 14 contract deadline was soundly rejected by UAW President Shawn Fain. White House Press Secretary Karine Jean-Pierre said Biden's comments about the UAW over Labor Day was him being "an optimistic person." The White House has tried to play a role in several recent large-scale union contract negotiations involving rail workers and West Coast port workers. Trump won Michigan in 2016, helping propel him to the White House; Biden beat him by 154,000 votes in Michigan in 2020. Around half a million more threatened strikes in the first half of 2023, estimates from national labor unions show.

Persons: Joe Biden's, Biden, Biden's, Shawn Fain, Fain, Karine Jean, Pierre, Kate Bronfenbrenner, Donald Trump, Trump, Joe Biden, Joshua Roberts, Harley Shaiken, Shaiken, Nandita Bose, David Shepardson, Joseph White, Heather Timmons, Deepa Babington Organizations: UAW, Biden's Labor, Detroit's, House Press, Labor, General Motors, Ford, carmakers, Anderson Economic, Cornell University's School of Industry & Labor Relations, White House, Wednesday, Workers, Republican, Michigan, State Labor, Metal Workers, Local, REUTERS, University of California, Bureau of Labor Statistics, EV, White, Energy Department, Teamsters, UPS, House, Thomson Locations: Detroit, America, Pennsylvania, Michigan, West Coast, Philadelphia , Pennsylvania, U.S, Berkeley, Michigan , Ohio , Indiana , Illinois, Belvidere , Illinois, Washington

Open Society Foundations said Tuesday that it will spin off its support for Europe's Roma communities into a new foundation and pledged €100 million, around $107 million, for that work. The Roma Foundation for Europe, which will be independent of OSF, launches in January and will be based in Brussels, said the foundations. Under Alex Soros' leadership, the foundations announced in July that it would significantly retool its structure and layoff 40% of its staff globally. “We will also keep up — and dramatically increase — our efforts to secure equal treatment for Europe’s largest ethnic minority, the 12 million Roma (who mostly live in Eastern Europe),” Alex Soros wrote. OSF will not have representatives on the board of the Roma Foundation for Europe, said Jovanovic, adding that the decision to start the foundation was made last year, independently of the restructuring.

Persons: Zeljko Jovanovic, ” Jovanovic, Alex Soros, George Soros, Soros, ” Alex Soros, Jovanovic, Alex Organizations: Roma, Roma Foundation for Europe, OSF, OSF's, Office, Associated Press, European Union, European Commission, AP, “ POLITICO, Central European University, Roma Foundation for, European Roma Institute for Arts and Culture, Roma Entrepreneurship Development, Democracy, Roma Education Fund, Associated, Lilly Endowment Inc Locations: Brussels, Roma, Europe, Berlin, “, Ukraine, Moldova, Western Balkans, Eastern Europe, Roma Foundation for Europe

☆ Bosch closes deal to buy US semiconductor foundry in EV chip push
▼ + stars: | 2023-08-30 | by ( Sarah Wu | ) www.reuters.com time to read: +2 min

Production at the new company, called Robert Bosch Semiconductor LLC, will start in 2026. The TSI facility would become the "third pillar" of in-house semiconductor production, along with two sites in Germany, Bosch said. Like other automotive manufacturers, Bosch was hit hard over the past two years by disruption to semiconductor production in Asia, exacerbated by the COVID-19 pandemic. The silicon carbide chips Bosch said it will manufacture at the TSI Roseville site are increasingly in demand by electric vehicle manufacturers. Demand for silicon carbide semiconductors is growing by 30% annually, Bosch said.

Persons: Wolfgang Rattay, Bosch, Paul Thomas, Sarah Wu, Christopher Cushing Organizations: Bosch, REUTERS, Rights, Robert Bosch Semiconductor LLC, Bosch Mobility, Thomson Locations: Munich, Germany, Rights TAIPEI, California, U.S, Roseville , California, Asia, Roseville

☆ US weekly jobless claims fall; tight labor market underpinning economy
▼ + stars: | 2023-08-17 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The labor market is only slowing at the margin, with job gains in July being the second-smallest since December 2020. Labor market strength, excess savings accumulated during the COVID-19 pandemic and greater credit card usage to fund purchases have kept a recession at bay. Some economists saw the slight elevation as indicating a small margin of slack in the job market. The Philadelphia Fed’s business conditions index increased to a reading of 12.0 this month from -13.5 in July. A survey this week from the New York Fed showed business conditions in the “Empire State” remained depressed in August.

Persons: Shannon Stapleton, ”, Christopher Rupkey, Jerome Powell’s, Jeffrey Roach, Bill Adams, Daniel Silver Organizations: WASHINGTON, REUTERS, Federal, Labor Department, Reuters, Treasury, Conference, Labor, LPL Financial, Conference Board, Comerica Bank, Philadelphia Fed, New York Fed, JPMorgan Locations: New York City, U.S, New York, Ohio, California, Texas , Michigan , New Jersey, Pennsylvania, Virginia, Charlotte , North Carolina, Dallas, New Jersey, Delaware, Philadelphia, “

Biden and UAW President Shawn Fain met briefly in the West Wing last month while UAW leadership was at the White House briefing senior staff on their positions. Fain has publicly warned that UAW is prepared to strike, saying nearly 150,000 members will strike if the three automakers do not meet their demands. Ford pointed out that it employs more UAW members and builds more cars and trucks at US plants than any other automaker. For the most part, those plants are joint ventures between automakers and battery makers, and thus will not be covered under the UAW contracts with the Big Three. But the union has yet to reach a deal with plant management on a contract, and workers there are paid about half of what UAW members are paid at the Big Three.

Persons: Joe Biden, –, —, ” Biden, Biden’s, Shawn Fain, Fain, Biden, ”, “, ” Ford, Stellantis, Ford, “ Stellantis, Vanessa Yurkevich Organizations: Washington DC CNN, United Auto Workers, – Ford, General Motors, “, AFL, CIO, UAW, Biden, Wing, White, Ford, Dodge, Chrysler, EV, CNN, Big, GM, Workers, LG Locations: Warren , Ohio

☆ Fintech VCs are readying their checkbooks as cash-strapped startup founders run out of options
▼ + stars: | 2023-08-08 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Fintech funding has been on a decline from 2021's peak levels, but VCs see signs of a rebound. VCs are itching to get back to dealmaking as they see early signs of a rebound in the fintech industry. Cash-strapped founders who didn't want to fundraise in a down market and get valuations slashed are running out of options and time. They dominated the fintech market in the past several years, but the shine is wearing off, Shriner said. Fintech VCs will get to spend more time on due diligence, looking beyond so-called "vanity metrics," Fernandez said.

Persons: Cash, didn't, Mark Peter Davis, Davis, We're, Tripp Shriner, Robert Ruark, Ruark, B2C, VCs, Shriner, — crowdedness, Stephanie Choo, Marcos Fernandez, KPMG's Ruark, Fintech, Fernandez Organizations: Interplay, Investors, Point72 Ventures, KPMG, Tiger, Portage Ventures, Fiat Ventures Locations: dealmaking, VCs, overvaluations

☆ What the Street missed in earnings at Apple and Amazon — and where shares go next
▼ + stars: | 2023-08-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

In one quarter — one off-cycle quarter that didn't feature a no new iPhone — Apple (AAPL) delivered a whopping $81.8 billion in sales. I came up with "own it, don't trade it" for Apple because there have been so many quarters like this one. The people who sold Apple shares on Friday no doubt sold it on their Apple devices. I would be more worried if Apple's customer satisfaction went down than I am that iPhone sales lagged. Apple CEO Tim Cook speaks during Apple's Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California, on June 5, 2023.

Persons: Tim Cook, Luca Maestri, Tim, Jensen, da, Huang, Andy Jassy, Roku, Jassy, Goldman Sachs, Jim Cramer's, Jim Cramer, Jim, Josh Edelson Organizations: Apple, ESPN, Amazon, Web Services, Nvidia, Services, Walmart, Oracle, Amazon Web, Google, Jim Cramer's Charitable, CNBC, Apple's Worldwide, AFP, Getty Locations: Indonesia, India, Philippines, Mexico, Turkey, Texas, New Jersey, Cupertino , California

☆ US labor market resilient; productivity rebounds in second quarter
▼ + stars: | 2023-08-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Other data from the Labor Department on Thursday showed a marked slowdown in labor costs in the second quarter, thanks to a sharp rebound in worker productivity. That added to reports last month showing a significant moderation in annual inflation in June as well as wage growth in the second quarter. Reuters GraphicsWorkers were more productive in the second quarter, which helped to curb growth in labor costs. Nonfarm productivity, which measures hourly output per worker, increased at a 3.7% annualized rate in the second quarter after declining at a 1.2% pace in the January-March quarter, the Labor Department said in a third report. Unit labor costs - the price of labor per single unit of output - rose at a 1.6% rate in the second quarter.

Persons: Andrew Kelly, Bill Adams, Nonfarm payrolls, Sarah House, Lucia Mutikani, Safiyah Riddle, Paul Simao, Andrea Ricci Organizations: REUTERS, WASHINGTON, Federal Reserve, Labor Department, Comerica Bank, Labor, The Institute for Supply Management, Treasury, Reuters, Reuters Graphics Workers, Thomson Locations: Manhattan , New York City, U.S, Dallas, California, Ohio, Texas, Georgia, Missouri, Wells, Charlotte , North Carolina

☆ Analysts see hope in Intel's earnings but remain wary of structural issues
▼ + stars: | 2023-07-28 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

"Good results," Citi analyst Christopher Danely said in a Friday note, "but structural issues remain." Citi reiterated a neutral rating and a $34 price target. Deutsche Bank, which described Intel's numbers as "more than marginal," maintained its Hold rating but increased its price target from $32 to $38, citing "abated" inventory challenges. Analysts increased Intel's price target from $30 to $35 and lauded the company's "better-than-expected results. He also said cloud companies were focusing more on securing graphics processors for AI instead of Intel's central processors.

Persons: Christopher Danely, Danely, Ross Seymore, Pat Gelsinger, Leswing, Michael Bloom Organizations: Intel, Wall Street, Citi, Nvidia, AMD, Deutsche Bank, JPMorgan

☆ Ron DeSantis is trailing Trump in the polls because he hasn’t ‘hit him hard enough’ and isn’t a ‘memorable personality,’ political experts say
▼ + stars: | 2023-07-27 | by ( Lloyd Lee | Hannah Getahun | ) www.businessinsider.com time to read: +6 min

Ron DeSantis hoped that Donald Trump's legal woes would hurt his opponent, per The New York Times. A USC political science professor told Insider that DeSantis hasn't hit Trump "hard enough." With eight months until the primaries, the public's opinion can still change — and so can Trump's legal standing. As for Trump's top challenger for the GOP nomination, Grose said DeSantis hasn't quite "hit him hard enough." Regardless, it appears like the DeSantis campaign is working hard on its reboot.

Persons: Ron DeSantis, Donald Trump's, Trump, Jack Smith, Christian Grose, Grose, DeSantis, Biden, Justice Department's, kowtowing, Anthony Fauci, Cal Jillson, Jillson, —, Ronald Reagan, Bill Clinton, Donald Trump, He's Organizations: New York Times, Trump, USC, Service, GOP, Truth, University of Southern, Republican, Biden Administration, Department of Justice, Justice, CNN, Southern Methodist University, Politico Locations: Florida, Wall, Silicon, Trump, University of Southern California, DeSantis, Iowa, New Hampshire

☆ US match to showcase best of women's football, says Dutch coach
▼ + stars: | 2023-07-26 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

The United States are gunning for an unprecedented third straight title while the Dutch will want to revive the spirit of their 2017 European Championship win. "This will be an example of modern women's football. It will be a fight from the first minute until the last with teams who want to compete, teams who want to win, teams who respect each other, who both have no fear," Jonker told reporters. "Both want to win the group so this is going to be a really good match." "We all know America has been one of the best teams in the world for a long, long time.

Persons: Amanda Perobelli WELLINGTON, Andries Jonker, gunning, Jonker, Lineth Beerensteyn, Vivianne Miedema, Jackie Groenen, Groenen, We're, Amy Tennery, John Stonestreet Organizations: Soccer Football, FIFA, United, United States Training, United States, debutants, Vietnam, America, Thomson Locations: New Zealand, United States, Newtown, Wellington , New Zealand, Netherlands, Wellington, Dutch, debutants Portugal, America

☆ Column: Can Spain & Portugal solve Europe's industrial power cost crisis? Maguire
▼ + stars: | 2023-07-26 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

These price caps in turn look set to result in widening power price discounts for consumers based in Spain and Portugal - known as Iberia - compared to Western European consumers, and may offer potential power price relief for industry. read moreSince then, the power price differences for Iberia-based consumers and those in Germany, Europe's largest power consumer, have been significant: Power prices in Spain for the second half of 2022 averaged less than half of those in Germany. For those firms, Spain and Portugal will likely emerge as potential locations for some production processes and operations, due mainly to lower energy costs. Spain and Portugal have not been entirely free from some power cost inflation even with the Iberian Exception. So far in 2023 Spain's power prices have averaged around 90% more than the average for 2018 through 2020.

Persons: Gavin Maguire, Kim Coghill Organizations: International Energy, Reuters, Thomson Locations: Ukraine, Germany, France, Poland, Spain, Portugal, Western Europe, Iberia, Europe, Europe's, Spanish, Asia, Africa, Northern, Southern Europe

☆ Snap Revenue Falls Amid Efforts to Retool Ad Business
▼ + stars: | 2023-07-25 | by ( Lindsey Choo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/snap-q2-earnings-report-2023-98bf1c94

Persons: Dow Jones

☆ US weekly jobless claims fall to two-month low
▼ + stars: | 2023-07-20 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

Unadjusted claims fell by 326 to 257,976 last week. Reuters GraphicsThough the labor market remains tight, last week's drop in claims was likely exaggerated by difficulties adjusting the data for seasonal patterns. The claims data covered the week during which the government surveyed businesses for the nonfarm payrolls component of July's employment report. Claims fell during the June and July survey weeks. At current levels, the so-called continuing claims are low by historical standards, indicating that some laid-off workers are quickly finding work.

Persons: Rubeela Farooqi, Unadjusted, Lucia Mutikani, Andrea Ricci, Paul Simao Organizations: Federal Reserve, Labor Department, Reuters, Reuters Graphics, Thomson Locations: WASHINGTON, White Plains , New York, California, Georgia, South Carolina, Oregon, Michigan , Kentucky , Indiana , New York , New Jersey , Iowa, Illinois, U.S

☆ US producer inflation muted; labor market still tight
▼ + stars: | 2023-07-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

That was the smallest year-on-year gain since August 2020 and followed a 0.9% increase in May. CORE INFLATION SLOWINGExcluding the volatile food and energy components, the so-called core goods prices fell 0.2% last month after climbing 0.1% in May. In the 12 months through June, the core PPI advanced 2.6%. That was the smallest year-on-year gain since February 2021 and followed a 2.8% increase in May. While inflation is slowing, the labor market remains tight.

Persons: Bill Adams, Jeffrey Roach, Christopher Rupkey, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: PPI, Labor Department, Federal Reserve, Comerica Bank, Reuters, Financial, Services, Wholesale, Fed, Energy, LPL Financial, Treasury, CPI, Thomson Locations: WASHINGTON, U.S, Dallas, Charlotte , North Carolina, Stocks, New York

☆ EV sales: Hyundai overtakes GM, but Tesla's U.S. dominance continues
▼ + stars: | 2023-07-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Meanwhile, Hyundai — including the Kia brand that's owned by the same parent company — increased its EV sales by roughly 11% during that time to 38,457 units. GM, which was second in EV sales through the first quarter, more than quadrupled electric car and truck sales to 36,322 units through June compared with a year earlier. And Volkswagen more than doubled EV sales to 26,538 units sold through June. Scott Mlyn | CNBCGM's EV sales thus far have been disappointing, especially when it comes to new models with the automaker's "Ultium" battery technologies. Correction: GM was second in EV sales through the first quarter of this year.

Persons: Brandon Bell, Tesla, Andrew Frick, hasn't, Elon Musk, Musk, disappoints Hyundai's, Randy Parker, we're, Parker, Scott Mlyn, Cadillac Lyriq, Mary Barra, Barra, It's, —, Phil LeBeau, Lora Kolodny Organizations: Getty, Hyundai Motor, General Motors, Motor Intelligence, Hyundai, Kia, GM, Ford Motor, EV, Ford, U.S, Automotive, Biden, Hyundai Motor America, New York Auto Show, CNBC, GMC Hummer, Cadillac, Chevrolet, Aspen Ideas, Chevrolet Silverado, Detroit Locations: Austin , Texas, U.S, Mexican, Texas, North America, South Korea

☆ How Utilities Use Money From Your Bills to Block Clean Energy - The New York Times
▼ + stars: | 2023-07-05 | by ( David Pomerantz | ) www.nytimes.com time to read: +1 min

Second, we have to retool nearly everything else that burns oil and gas — like cars, buses and furnaces that heat buildings — to run on that clean electricity. These changes are underway, but their speed and ultimate success depend greatly on one kind of company: the utilities that have monopolies to sell us electricity and gas. But around the country, utility companies are using their outsize political power to slow down the clean energy transition, and they are probably using your money to do it. State regulators are supposed to make sure that customers’ monthly utility bills cover only the cost of delivering electricity or gas and to set limits on how much utilities can profit. In doing so, they are conscripting their customers into an unknowing army of millions of small-dollar donors to prolong the era of dirty energy.

☆ Column: German electricity generation still stunted despite lower prices
▼ + stars: | 2023-07-05 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +4 min

Germany January-June electricity generationBut unless power prices undergo a significant further and persistent decline, total German energy consumption - and output - may remain depressed and cause enduring economic harm. Despite persistently lower prices, German total electricity generation was 247 terawatt hours (TWh) in the first half, 12.4% lower than the 282 TWh generated over the same period in 2022. This shows the deep impact on total electricity consumption from sustained cuts to power use by certain production lines and smokestack plants. For German energy producers, subsidies are available to build renewable supply capacity from solar and wind sites, which can help lift total electricity supply relatively quickly and help end users decarbonise. And without further steep, sustained reductions in power costs in coming months, many of these businesses may risk permanent contractions or closure even though power costs have already retreated sharply from last year's peaks.

Persons: Gavin Maguire, David Gregorio Our Organizations: Reuters, Thomson Locations: Ukraine, Europe, Germany

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