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So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. “We’re quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range,” he told CNBC on Thursday. Gjaja’s comments came a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. Gjaja said the decision wasn’t taken lightly, especially the cancellation of the upcoming three-row vehicle, which Ford CEO Jim Farley and other executives had been touting as a game changer for several years. He said the Ford, in part, developed the skunkworks team to prove that Ford can compete against the Chinese automakers.
Persons: Marin Gjaja, We’re, , Warren Buffett, Gjaja, Jim Farley, ” Farley, Ford, ” BofA’s John Murphy, John Lawler, Lawler, ” Gjaja, ” There’s, we’ve, ” Ford, Thursday, Organizations: DETROIT, Ford, CNBC, North America, EV, , ICE, Wall Street, GM, General Motors Locations: U.S, Europe, North, California, China,
In this article F Follow your favorite stocks CREATE FREE ACCOUNTA banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California. So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. "We're quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range," he told CNBC on Thursday. Gjaja's comments come a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. He said the Ford, in part, developed the "skunkworks" team to prove that Ford can compete against the Chinese automakers.
Persons: Mario Tama, Marin Gjaja, Warren Buffett, Gjaja, Jim Farley, Farley, Ford, BofA's John Murphy, John Lawler, Lawler, There's, we've, Michael Wayland Organizations: Ford, Getty, DETROIT, CNBC, North America, EV, Wall Street, GM, General Motors Locations: Glendale , California, U.S, Europe, North, California, China
They are part of Louisville’s burgeoning tenants union, which mobilizes the residents of low-income apartment complexes, rural trailer parks and gentrifying neighborhoods to challenge the corporate landlords that they say have devastated affordable housing. Midsize cities like Louisville contain many of the fault lines that created America’s housing crisis: gentrification, federal development schemes and redlining. If this country’s affordable housing crisis can be solved here, it could establish a template for helping the nation’s poor and marginalized find stability. Josh Poe, 47, and Jessica Bellamy, 36, founded the Louisville Tenants Union in 2022 because they believe that organizing is the answer to the nation’s housing woes. “Tenant organizing,” Poe told me with pastoral conviction, “will be to the 21st century what labor organizing was to the 20th century.”
Persons: Donna Goldsmith, Goldsmith, , , Josh Poe, Jessica Bellamy, ” Poe Organizations: Kentucky Derby, Louisville, Louisville Tenants Union Locations: Louisville, Ky, Southern
Ngu Thazin wanted to leave her war-torn country for a better future. Yet she gladly took a job in Japan changing diapers and bathing residents at a nursing home in a midsize city. “And I want to send my family money.”Japan desperately needs people like Ms. Thazin to fill jobs left open by a declining and aging population. The number of foreign workers has quadrupled since 2007, to more than two million, in a country of 125 million people. Many of these workers escaped low wages, political repression or armed conflict in their home countries.
Persons: Ngu Thazin, , Thazin Locations: Japan, Myanmar, midsize, , ” Japan
Many fleet sales, especially daily rentals, have historically been viewed as a negative for auto companies. But Ford has proven that's not always the case by breaking out financial results for its "Ford Pro" fleet business. Ram, GM retoolAs Ford touts its fleet business, its closest rivals have amped up their operations. It launched "GM Envolve" last year, its overhauled fleet and commercial business focused on fleet sales, digital telematics and logistics for commercial customers. EV goalsGM Envolve includes the company's EV commercial business BrightDrop, which was folded back into the automaker last year instead of it acting as a subsidiary.
Persons: Mark Hazel, It's, Ford, Ferrari, Jim Farley, Wolfe, Joe White, Farley, BofA's John Murphy, Ram, Christine Feuell, Stellantis, Ram Ram, Ken Kayser, Sandor Piszar, Motors, Piszar, EV600 Organizations: Ford DETROIT, U.S, automakers, Ford Motor, General Motors, Chrysler, P Global Mobility, Ford, Ford Pro, Wolfe Research, North, GM, Ford Super Duty, Reuters, GM retool, CNBC, Software, Stellantis, GM Envolve, Sierra, GM Fleet, EV Locations: Dearborn , Michigan, U.S, North America, Europe, Kentucky, Louisville , Kentucky, Stellantis, Detroit
"While company reported 2Q results ahead of guidance on higher take-rate, weaker 3Q guidance and removal of FY GMS outlook suggest no near-term visibility," the analyst wrote. Etsy stock is 20% lower on the year but has increased 16% since July 8. Positively, AmEx did see slightly better [small or midsize enterprise] spend in Q2'24," wrote analyst Donald Fandetti. Bank of America lifted its price target to $563 from $555, while Citi increased its target to $580 from $555. Its price target of $220, up from $175, implies upside of 23% from Wednesday's close.
Persons: Morgan Stanley, Robinson, Brian, Ossenback, — Lisa Kailai Han, Oppenheimer, Jason Helfstein, Etsy's, Etsy, Helfstein, he's, Lisa Kailai Han, Wells, David Lantz, Lantz, Carvana, Raymond James, Brian Vaccaro, Vaccaro, AmEx, Donald Fandetti, Fandetti, Goldman Sachs, Ross Sandler, Andrew Percoco, Fred Imbert Organizations: CNBC, GE, JPMorgan, Carvana, TAM, Management, American Express, America Express, Meta, Wall Street, Goldman, Citi, Barclays, Bank of America, Google, GE Vernova, General Electric Locations: C.H, Etsy, Wingstop, Wells Fargo, Q2'24, 2H24, Wednesday's
AdvertisementSpeed and ease — that's how generative AI is changing the game for finance professionals. In a survey of 780 banking and capital-markets employees by Accenture Research, 62% of respondents expect generative AI to increase people's stress and burnout. "Employees with AI skills will replace people without AI skills," Andrew Chin, the chief AI officer at the $759 billion money manager AllianceBernstein, told BI. AdvertisementA data scientist at a midsize hedge fund told BI that generative AI models are a "superpower for coders." The firm's ultimate aim is to use generative AI to replicate the success of its best bankers for all advisors.
Persons: Christina Melas, Rowe Price's Sébastien, Eric Burl, Alyssa Powell, Thomas H, Lee, Keri Smith, Smith, Ken Griffin, They've, Goldman Sachs, Marco Argenti, Argenti, It's, I've, drudge, Andrew Chin, AllianceBernstein, Lisa Donahue, Donahue, Jobs, who's, He's, he'd, ChatGPT, Accenture's Smith Organizations: Bain Capital Ventures, Management, Business, Bain Capital, Man Group, Accenture Research, Finance, Wall Street, Blackstone, Sigma, Citadel, Milken Institute Global Conference, Excel, Accenture, Northern Trust, Citibank, Citi, JPMorgan Locations: New York City, New York
It was because I knew that working in Big Tech in Silicon Valley would change me into a different person and I'd never move back. It's been 11 years since then, and I think I've gotten happier with my life here now that I've worked at a few different jobs in Big Tech. But despite this, working in the US suits me better than working in India because of my individualistic mindset. Some people back home think very competitively — they've hinted that they think I'm just plain lucky, and if they had the opportunity, they'd do it too and much better. Even if I had all the resources to go back to India, it'd be different — I've grown apart from who I was.
Persons: Uday Padyana, I'd, It's, I've, India I've, I'm, it's, they've, there's, , haven't, would've, India I'm, could've, it'd, Jeff Bezos's, Jane Zhang Organizations: Service, Big Tech, Big, Business, PayPal, Uber Locations: Silicon Valley, India, Big Tech, Silicon, Atlanta, Washington , DC, American, janezhang@businessinsider.com
None of that sounds like it should bode very well for stocks, but the S&P 500, a measure of the broad U.S. stock market, has returned about 16% so far in 2024. This has been even the bull's dream of a year," says Ryan Detrick, chief market strategist at the Carson Group. Indeed, the likes of Microsoft, Nvidia, Amazon.com and Alphabet have all enjoyed returns over the past year that have vastly outgained the broad market. All 11 S&P 500 sectors sport positive returns year-to-date, with six featuring double-digit returns. That could "loosen up the gears" in what has been a stubborn housing market and should encourage business investment — both good signs for the broader market, he says.
Persons: bode, Ryan Detrick, You've, Christopher R, Jackson, you've, Detrick Organizations: Federal Reserve, Carson Group, Microsoft, Nvidia, UBS Wealth Management Locations: U.S
Introduction to the Hilton Honors Business CardThe Hilton Honors American Express Business Card is worth considering if you're loyal to Hilton and qualify for a small business credit card. Hilton Honors Amex Business Card OverviewThe Hilton Honors American Express Business Card is the only business card in the Hilton credit card family. The other three — Hilton Honors American Express Card, Hilton Honors American Express Surpass® Card, and Hilton Honors American Express Aspire Card — are great options if you're in the market for a consumer-focused Hilton credit card. Hilton Honors Amex Business Card Benefits and FeaturesThe Hilton Honors Amex Business Card comes with several perks that can make your travels more comfortable and help you save money. Hilton Business Credit Card Annual Fees and Other CostsThe annual fee on Hilton Honors Amex Business Card more than doubled in early 2024, jumping up to $195.
Persons: Hilton, Amex, Hilton LXR, Hilton Tru, you'll, Cardholders, You'll, aren't Organizations: Business, Hilton, Honors American Express, Hilton Honors American Express, Diamond, Express, Hilton Honors American, Hilton Honors, Card, Honors, Tru, Hilton Gold, Hotel Brands Conrad Hotels, Resorts, Hilton DoubleTree, Hilton Embassy, Inn, Hilton Hilton Hotels, Garden Inn, Hilton Homewood, Hilton LivSmart Studios, Hilton Signia, Hilton Tempo, Hilton Waldorf Astoria Hotels, Resorts Hilton, Hilton Diamond, Emerald, Chase, Baggage, Hilton Business, Air France, KLM, Delta Air Lines, United Airlines, Chevron, Hilton Business Credit, Hyatt Locations: Chevron, IHG
But before my second was born, my family moved to rural New Hampshire for my husband's job. The kids' school (a town over) is 20 minutes from home, while the grocery store is 25. When the kids inevitably break a bone during their adventures, we need to drive 45 minutes to the hospital. My life feels more relaxed hereAfter three years of living in that town, going even more rural felt like an easy choice. My kids didn't choose to live in the middle of nowhere, and I don't want it to hold them back.
Persons: , I'm, Maxx I'd Organizations: Service, YouTube, Business, Walmart Locations: Boston, New Hampshire, Vermont, Massachusetts
Read previewInfluencer marketing has been on a growth tear recently , and midsize creators are one of the biggest beneficiaries, said former marketer Emmy Petit. She has over 100,000 followers on social media but under 1 million, which she categorizes as a midsize creator. Advertisement"Most people I know are seeing year-over-year growth" in brand partnership income, Petit told BI, speaking about other midsize creators. One reason advertising budgets are expanding is the demand for cross-platform sponsored content, Petit said — and it's giving midsize creators like her a chance to cash in. Petit said some midsize creators are also achieving success by speaking directly to the camera, as though they're on FaceTime with their audience.
Persons: , Petit, she's, Today's, Linqia, influencers, She's Organizations: Service, Business, Petit, YouTube, Brands Locations: TikTok
The Hyundai Santa Fe is a mid-size three-row family SUV that's all-new for 2024. I recently reviewed a well-equipped Santa Fe in the off-road focused XRT trim. I was impressed by the Santa Fe's rugged looks, useful interior features, and updated tech. This year, Hyundai gave the Santa Fe a full-on makeover, complete with rugged, angular looks and a standard third-row seat. While still slotted between Hyundai's compact Tucson and the brand's flagship Palisade, the new Santa Fe now has a distinct look and feel that stands out from the crowd.
Persons: Organizations: Hyundai, Service, Business Locations: Hyundai Santa Fe, Santa Fe, Santa, Fe, Tucson, Palisade
Read previewI'm American, and my husband is Spanish. My daughter is being raised as an American but with the cultural inputs from her time in Spain. I've noticed some differences between Spanish kids and American kids. There's an emphasis on mealtime being family timeIn Spain, kids are taught to be seen and not heard. I hate seeing parents plug their kids into tablets or cellphones, something that never happens with Spanish kids.
Persons: , I've, I'm, It's Organizations: Service, Spain —, Business Locations: Spanish, Spain, Spain — Zaragoza
CNN —Measuring about half the length of a Ford F-150, Kei trucks look almost like toys in comparison to your standard pickup truck. Instagram page Kei Trucks Appreciation Society (@keitrucksas) sells Kei truck-themed merchandise from hoodies to stickers and posts memes for its more than 95,000 followers. On X, Kei truck fans share pictures of mini trucks they spot in the wild. Most states lack Kei-specific regulation entirely, and so far, only 19 states allow Kei trucks on public roads. And data from Edmunds showed that Americans were trading in more midsize and large pickup trucks for compact trucks than vice versa.
Persons: Kei, , George Zotos, Bill Pugliano, Zotos, Tetsu Ichino, , I’ve, it’s, Andrew O’Bright, Kei truck’s, ” Zotos, Melissa Torre, Torre, Mark Schirmer, Mercedes ’ Smart, ” Schirmer, Ford, Edmunds, Ivan Drury, Drury, Organizations: CNN, Ford, Silverado, American International Detroit Auto, Research, JDM Imports, Philadelphia, Torre, Daihatsu, Cox Automotive, Mercedes, Benz, Insurance Institute for Highway Safety, Ford Maverick, Hyundai, Hyundai Santa Cruz Locations: Japan, New York, Detroit , Michigan, Rockville , Maryland, Maryland, Chicago, Kei, U.S, Hyundai Santa
The Embraer Praetor 600 is a $21 million super-midsize business jet. See inside the $21 million aircraft that's fully fly-by-wire and has touchscreen cabin controls. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Embraer, Service, Airbus, Boeing, Business
Shares of small- and midsize companies, or "SMID caps" for short, have lagged behind their large-cap peers in recent years, including 2024. Large caps may lead for a while longer, Oppenheimer researchers wrote in a July 9 note. AdvertisementOppenheimerHowever, SMID caps have quietly but consistently built momentum throughout this year, even though they haven't broken out yet. "Each of these unconfirmed averages are maintaining above prior breakout levels and their 200-day average," Oppenheimer researchers wrote. Within SMID caps, Oppenheimer is especially bullish on midsize growth stocks.
Persons: , Oppenheimer Organizations: Service, Nvidia, Business, Medicines, Zeta Global
Bank of America said this week that a slate of stocks is poised for upside as the summer heats up. CNBC Pro combed through Bank of America's research to find buy-rated stocks that are too attractive to ignore. Carnival Carnival is coming off better-than-expected earnings in late June. Bank of America analyst Andrew Didora said in a recent note that this bodes well for the stock in the months ahead. Palantir "We're still in the early innings of AI adoption and expect Palantir (PLTR) to continue to see significant upside from this trend.
Persons: Andrew Didora, Didora, Jason Kupferberg, Kupferberg, Mariana Perez Mora, Palantir, Mora, We're Organizations: of America, Nvidia, CNBC, Bank of, Palantir Technologies, Bank of America, CCL, Palantir, U.S . Department of Defense, Blackwell,
The Biden administration reached a settlement with General Motors after determining that the automaker sold nearly six million cars that emitted more planet-warming carbon dioxide than the company had claimed, violating federal regulations. An investigation by the Environmental Protection Agency found that in those years G.M. had sold about 4.6 million full-sized pickup trucks and sport-utility vehicles, and 1.3 million midsize sport-utility vehicles, that it claimed met the pollution standards, but in fact hadn’t. “E.P.A.’s vehicle standards depend on strong oversight in order to deliver public health benefits in the real world,” said E.P.A. “Our investigation has achieved accountability and upholds an important program that’s reducing air pollution and protecting communities across the country.”
Persons: , , Michael S, Regan Organizations: Biden, General Motors, Obama, Environmental Protection Agency
Rivian stock surged 37% after it secured a $5 billion deal with Volkswagen. The companies will form a joint-venture to develop next-gen vehicle software and electrical architecture. AdvertisementRivian stock soared 37% on Wednesday after it struck a $5 billion deal with Volkswagen. The two companies will form a joint-venture to collaborate on next-generation vehicle software and electrical architecture, which will be utilized in cars from both brands. As part of the deal, Volkswagen will invest an initial $1 billion in Rivian via a convertible note that will convert into Rivian stock later this year, assuming the companies receive regulatory approval for the deal.
Persons: , RJ Scaringe, Dan Ives, Ives Organizations: Volkswagen, Service, JV, Volkswagen Group's, Rivian Locations: Rivian
I was not interested in my dad's college, Purdue, because it lacked a humanities focus. I asked to visit Ball State University in Muncie, Indiana, because I had heard good things about the midsize college. AdvertisementI was irritated and surprised but still wanted to visit Ball State. Ball State lacked the national ratings of the other schools but was renowned for several programs, including one that interested me. I fell in love with Ball StateI attended a summer high school journalism workshop at Ball State, which clinched the deal for me.
Persons: , impatiently, Aren't, we've, Amy, David, Dorothy, Oz, Tom K, Ryan, Jim Davis, Garfield, I'm, I've Organizations: Service, Business, Purdue, Indiana University, Ball State University, Big Ten, Ball State, Ball, Indiana Locations: Minnesota, mater, Muncie , Indiana
The Hyundai Santa Fe is a three-row mid-size family SUV that's all-new 2024. I was disappointed by its laggy power delivery, excessive road noise, and intrusive safety tech. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Squeezed in between the compact Tucson and the midsize Palisade is the Santa Fe.
Persons: , that's Organizations: Hyundai, Service, Business Locations: Hyundai Santa Fe, Kona, Tucson, Palisade, Santa Fe
AdvertisementDavid Solomon Goldman SachsPressure-cooker cultureWith signs suggesting mergers and acquisitions could soon return — including the megadeals Goldman specializes in — the firm's dealmakers are itching to end 2024 on a high note. In M&A, Goldman has fallen to No. AdvertisementMark Sorrell Goldman SachsGoldman is also seeking to become more interconnected across its business lines via the One Goldman Sachs program. "They figure that if they're talking to one person at Goldman Sachs, they're talking to everybody." The result, bankers said, is an M&A machine built to withstand threats like star dealmakers leaving for more-nimble rivals.
Persons: , Goldman Sachs, Bill Quinn, Goldman, Jacki Zehner, Rishi Bali, Hank Paulson, John Thornton, John Thain, David Solomon, Solomon, Dan Dees, What's, David Solomon Goldman Sachs, Gene Sykes, Alison, It's, LSEG, dealmaking, Goldman dealmakers, Momo Takahashi, We've, Mark Sorrell, Mark Sorrell Goldman Sachs Goldman, Sykes, they're, Sorrell, Dees, it's, Dan Dees Goldman Sachs, we're, John Waldron, Kim Posnett, that's, Timothy Ingrassia, Ingrassia, Stephan Feldgoise, I'm, Reed Alexander Organizations: Service, Business, Goldman, JPMorgan, playbook Bank, Wall Street, Competition, & $ Locations: Silicon Valley, London, New York City, Latin America
Read previewShopify plans to stop referring to its Shopify Plus offering as a stand-alone brand, according to an internal post viewed by Business Insider. By deprecating the Shopify Plus brand, Shopify could be signaling that it no longer needs or wants to differentiate between its various customer segments. To make this obvious, we started a product line called Shopify Plus and built entire marketing campaigns around the Shopify Plus brand. We built Plus brand as a counter-position to the Shopify brand. Shopify Plus will have all the same brand equity as Shopify Advanced or Shopify Basic.
Persons: , Kaz Nejatian, Nejatian, Harley Finkelstein, Shopify, Bobby Morrison, Adrianna Burrows Organizations: Service, Business, Shopify, Manhattan Associates Locations: Shopify's, mstone@businessinsider.com
We asked seven pro investors to identify the best trades of their careers and explain how the lessons from those decisions still apply today. The CBOE Volatility Index, also known as the VIX, shot above 40, essentially meaning traders were betting that the stock market would be exceptionally rocky over the following month. Jeff Muhlenkamp, lead portfolio manager at Muhlenkamp & CompanyJeff Muhlenkamp Muhlenkamp & CompanyJeff Muhlenkamp's namesake Muhlenkamp Fund (MUHLX) has been in the top 3% of its category in the past half-decade, thanks to trades like one he pulled off on Chinese internet firm Baidu (BIDU). "I pretty much expected, 'OK, if I get a double out of this in five years, I'll be happy' — that's pretty decent money," Muhlenkamp said. He noted that industrials within the Russell Mid Cap value index have returned 116% over the previous five years.
Persons: , That's, Michael Burry, Warren Buffett, Berkshire, Rob Arnott, Tim Boyle, Arnott, I'd, Bob Elliott, Bob Elliott's, Elliott, Jeff Muhlenkamp, Jeff Muhlenkamp Muhlenkamp, Jeff Muhlenkamp's, Muhlenkamp, you've, Sona Menon, Cambridge Associates Sona Menon, Bryant VanCronkhite, Allspring Bryant VanCronkhite Allspring Bryant VanCronkhite, VanCronkhite, Russell, industrials, James Davolos, Davolos, George Patton, Harley Bassman, Harley Bassman's, Bassman, Merrill Lynch, I'm Organizations: Service, American Express, Business, Research, Bloomberg, Getty, Bridgewater Associates, Treasury, Securities, Muhlenkamp, Baidu, Google, North, Cambridge Associates, Allspring, Horizon Kinetics, Opportunities Fund, Credit Suisse Locations: industrials, West Africa, New York City, Guinea
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