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☆ Rivian and VW join up to design vehicle software
▼ + stars: | 2024-06-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Rivian and Volkswagen Group are forming a joint venture to create vehicle software, the two companies announced Tuesday. The two automakers did not provide a name for the new joint venture company or name its leadership team. Rivian’s fundamental vehicle software design is expected to provide the basis for the new company’s software. The technologies designed by the company will include both the user-interface software that runs things like the entertainment system and gauges and deeper vehicle software that interacts with things like the vehicle’s motors. VW already has its own vehicle software subsidiary, Cariad, and that company will continue with its work, VW chief executive Oliver Blume said on a conference call.

Persons: CNN —, RJ Scaringe, that’s, ”, Scaringe, it’s, Oliver Blume, what’s, Blume, ” Scaringe Organizations: CNN, Volkswagen Group, VW, Volkswagen, Porsche’s, Porsche Locations: Georgia, Atlanta

☆ ‘Months to correct, if not years’: Car dealerships and customers feel the impact as CDK outage drags on
▼ + stars: | 2024-06-25 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +7 min

“The financial impact it will directly have on us will take months to correct, if not years,” Callahan said. Tom McParland, the owner of Automatic Consulting, a national car buying service, said the outage was impacting customers because they have fewer dealers to choose from. “It limits the customer’s leverage.”Some dealers also can’t apply factory rebates without CDK’s software, so customers may miss out on money-saving deals. Under normal circumstances, the CDK software allows the dealership to register a vehicle almost instantaneously, but now the process faces heavy delays. He told CNN he was able to buy the car but was unable to sign the title.

Persons: Ryan Callahan, ” Callahan, CDK, Tom McParland, ”, McParland, Michael Deveney, “, ” Deveney, Katelyn Salvato, hasn’t, Salvato, …, We’ve, they’ve, Scott Campbell, Nicolas, CNN they’ve, Don Aycock, Robbie Jacob, Jacob, Tekion Organizations: New, New York CNN, Mazda, North America, Automatic Consulting, Midway Automotive, Massachusetts, of Motor Vehicles, Pride Motor Group, “, DMV, CNN, Massachusetts Department of Transportation, Capital City Buick GMC, Porsche, Buick, Diego —, Kia, Cox Automotive Locations: New York, Seekonk , Massachusetts, Lynn, Berlin , Vermont, Los Angeles, ”, Clay County , Florida, Diego

Moreover, the partnership will enable Rivian to cut operating costs by leveraging volumes of supplies including chips and components, he said. It will also help Rivian, known for its flagship R1S SUVs and R1T pickups, turn cashflow positive. Volkswagen will immediately invest $1 billion in Rivian through a note that will convert to stock on Dec. 1, subject to regulatory approvals. The German automaker will also invest $2 billion in Rivian stock - $1 billion each in 2025 and 2026 - subject to the startup hitting certain milestones, and provide a $1 billion loan in 2026. Rivian stock has halved so far this year.

Persons: Stephane Mahe, RJ Scaringe, Vitaly Golomb, Herbert Diess, Diess, Rivian, Scaringe, Sam Fiorani, Mavka Capital's Golomb, VW's Cariad, Abhirup Roy, Ben Klayman, Noel Randewich, Christina Amann, Harshita Varghese, Sayantani Ghosh, Rod Nickel, Matthew Lewis, Leslie Adler Organizations: Volkswagen, REUTERS, Reuters, JV, Audi, Porsche, Lamborghini, Bentley, Volkswagen Group, Mavka, VW, AutoForecast Solutions, Traders, S3 Partners, Rivian, Thomson Locations: Reze, Nantes, France, Europe, Asia, North America, U.S, German, South Carolina, San Francisco, Detroit, Oakland , California, Berlin, Bengaluru

☆ Trade between the US and Germany is growing. Concerns over China might be driving the shift.
▼ + stars: | 2024-06-24 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Trade between the US and Germany was 63.2 billion euros in the first quarter of 2024, edging out the 60 billion euros of trade between China and Germany, according to data from the German government. AdvertisementElectric vehicles are causing riftsAutomobiles are at the center of a new dispute between China and Germany. Nearly a third of German car sales in 2023 came from China, according to Reuters, leaving the industry vulnerable to a trade war. The slump in German exports to China is a sign of vulnerability in trade relations, according to the FT. In 2022, trade between China and Germany was 50 billion euros greater than that between Germany and the US.

Persons: —, Biden, EVs, Robert Habeck, Habeck, Oliver Rakau, Martin Wolf Organizations: Service, Business, European Union, Bloomberg, European Commission, BMW, Porsche, Volkswagen, Reuters, EU, European Union Chamber of Commerce, Atlantic Council, Oxford Economics, US, Trump, Biden Locations: China, Germany, Russia, Ukraine, West, Beijing, European, materializing, Red, Europe, Brussels

☆ 34-year-old making $400,000 at TikTok: Being let go from Meta in 2022 was 'perfect timing'
▼ + stars: | 2024-06-24 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +13 min

TubeMogul was competing for an ad tech partnership with Netflix, so Lee learned about the company's own technology and culture. Lee started working at Netflix on its digital marketing programmatic buying team in 2014, earning a salary of $110,000. "It was actually perfect timing that I got laid off," Lee says of being part of Meta's November 2022 job cuts. While she wants to continue increasing her salary, money alone isn't enough. On her TikTok, YouTube and Instagram accounts, Lee shares career and lifestyle advice based on her experiences.

Persons: Sora Lee, Lee, Mickey Todiwala, she'll, hustles, Lee didn't, she's, you've, TubeMogul, Andrew Evers, Lisa Setyon, haven't, Jackson, Tesla, doesn't, I'm, Lee isn't Organizations: CNBC, University of California, TikTok, ByteDance, Netflix, Meta, Facebook, Child, Savings, Porsche, YouTube Locations: Berkeley, South Korea, San Mateo , California, TikTok, RSUs, TubeMogul, New York, Austin , Texas, Los Angeles, Meta's, Lake Tahoe, U.S

☆ Far-right blogger Jim Hoft used The Gateway Pundit's company funds to buy himself a Porsche and an oceanside Florida condo
▼ + stars: | 2024-06-18 | by ( Jacob Shamsian | Jack Newsham | ) www.businessinsider.com time to read: +5 min

Hoft appeared to view the distinction between his personal finances and TGP Communications, the now-bankrupt corporate entity that owns The Gateway Pundit, as little more than a formality. Both he and his brother, Joe Hoft — a Gateway Pundit cofounder — took loans from the company, he said. AdvertisementSome of the creditors suing The Gateway Pundit claim the bankruptcy is a legal maneuver to try to escape from accountability in other courts. Coomer has also sued Hoft after The Gateway Pundit falsely accused him of being on "a conference call filled with Antifa-sympathizing callers" to rig the election. He used the company to give himself an $800,000 loan to purchase a condo in 2021 in Jensen Beach, Florida, he said.

Persons: —, Jim Hoft, Hoft, Joe Hoft, We've, Ruby Freeman, Wandrea Moss, Eric Coomer, Freeman, Moss, Donald Trump, Rudy Giuliani, Coomer, Louis Organizations: Service, TGP Communications, Business, Voting Systems, New, New York City, Porsche, Trump, White House, US Trustee's, Pundit Locations: Florida, Georgia, New York, Jensen Beach , Florida, St

☆ Uber, Khosla, Nvidia invest in $200 million funding round for autonomous trucking startup Waabi
▼ + stars: | 2024-06-18 | by ( Riley De León | ) www.cnbc.com time to read: +3 min

Autonomous trucking startup Waabi announced Tuesday it has raised $200 million in an oversubscribed Series B funding round led by existing investors Uber and Khosla Ventures. Waabi's latest funding round also includes Nvidia, a new investor in the company, as well as Porsche and the venture capital arm of Volvo. Using generative AI, Waabi has built a single AI system that is capable of reasoning, just as humans do, and that can come up with problems human minds couldn't conceptualize. The new investor round brings Waabi's total funding to $280 million since being founded in 2021. "This funding round gives us everything we need, both financially and strategically, to launch fully driverless trucks and accelerate our growth in 2025," Urtasun said.

Persons: Waabi, couldn't, Raquel Urtasun, Jensen Huang, Urtasun Organizations: Uber, Khosla Ventures, Nvidia, Porsche, Volvo, Uber Freight, U.S, Trucking, CNBC Locations: Toronto, Dallas, Houston, Texas, U.S, Waabi

☆ How the super rich ship their cars
▼ + stars: | 2024-06-05 | by ( Simon Usborne | ) edition.cnn.com time to read: +6 min

Hallworth's business, Dan Car Logistics, ships more than 100 flash cars a year. If anything, he says, the flow of wheels has reversed; he’s often transporting cars from London to Dubai for people travelling or doing business there. December was the busiest month, and the biggest destinations for cars leaving the UAE were Frankfurt, Zurich and Chicago. Some of Hallworth's clients have been put off storing cars in cities like London. “We always want the owner’s ID, the registration documents of the cars and to get a feel of the customer,” he says.

Persons: Naran, ”, Daniel Hallworth “, he’s, “, ” Dan Hallworth, Daniel Hallworth Hallworth, Hallworth, ” Mercedes, Chiron, Daniel Hallworth, “ I’ve, “ It’s, I’m Organizations: CNN, Porsche Carrera GT, Private Jets, Porsche, London Volkswagen, Dan Car Logistics, Cape Town, Samsung TV, Nissan, Bugatti, London . Newspapers, Police, Etihad Cargo, UAE, Daniel Hallworth Etihad Locations: Zimbabwe, Dubai, London, Los Angeles and New York, Emirates, hatchbacks, Cape, Manchester, England, East, Harrods, Los Angeles, Marbella, Spain, Qatari, Heathrow, Abu Dhabi, Frankfurt, Zurich, Chicago

☆ Porsche reveals first-ever 911 hybrid sports car, starting at $164,900
▼ + stars: | 2024-05-28 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Porsche on Tuesday revealed the first-ever production hybrid version of its iconic 911 sports car, with a starting price of $164,900. The 2025 911 Carrera GTS hybrid marks a significant change to the iconic German sports car amid the automotive industry's focus on increasing electrified vehicles and tightening fuel economy standards. "We developed and tested various ideas and approaches to decide on a hybrid system that optimally suits the 911," Frank Moser, Porsche vice president of the 911 and 718 model lines, said in a release. The new 911 Carrera GTS can accelerate from 0 to 60 mph in 2.9 seconds – 0.3 seconds quicker than the prior non-hybrid GTS model – and reach a top track speed of 194 mph. It is powered by a newly developed 3.6-liter boxer hybrid engine that produces 532 horsepower and 449 foot-pounds of torque.

Persons: Frank Moser Organizations: Porsche, Carrera, Volkswagen

☆ Porsche reveals a new hybrid 911 as more consumers embrace hybrids over electric vehicles
▼ + stars: | 2024-05-28 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

They have become increasingly popular in the United States even as sales of purely electric models have started to slow. The German automaker Porsche, a division of Volkswagen AG, already sells plug-in hybrid models like the Cayenne e-Hybrid SUV and Panamera e-Hybrid four-door car, but a hybrid 911 is another matter. Initially, hybrid power will be available in only one version of the car, the high performance 911 Carrera GTS. In another major change for Porsche, this car will not be a plug-in hybrid, as other Porsche hybrid models have been. Besides hybrids, Porsche also sells fully electric cars, the Taycan and the new Macan Electric SUV.

Persons: CNN —, didn’t, Ferdinand Porsche Sr, Ferdinand “ Ferry, Ferry’s, Ferdinand “ Butzi Organizations: CNN, CNN — Porsche, Porsche, Volkswagen AG, Carrera, Volkswagen Locations: United States, Cayenne

☆ I live in Germany where there are laws around how to name your child. Kids can't be named after titles, places, or brands.
▼ + stars: | 2024-05-25 | by ( Naomi Kaye Honova | ) www.businessinsider.com time to read: +4 min

AdvertisementAmong my kids' classmates and friends, I can't name a single child born in recent years whose name falls into this category. Related storiesOne of my kids technically has a gender-neutral name, but admittedly, it wasn't an issue when we named him in Germany. Another interesting fact is that common German last names, like Schroeder or Fischer, can't be given as first names in Germany. The reason for these names being rejected is due to child protection grounds, as they are seen by German law as acts of child cruelty. Fortunately, this particular law was never an issue for us — we certainly never intended to give our children names like Stalin or Captain Marvel.

Persons: —, Frank Zappa's, Dweezil, Kanye West, Kim Kardashian's, Luca, It's, didn't, Sir, Chanel, Bentley, Schroeder, Fischer, Parker, Sawyer, Carter, Adolf Hitler, Carola, Schokominza, Lenin, Stalin, Marvel Organizations: Service, Moon Unit, Kanye, Business, Prada, Nazi, Pepsi Locations: United States, Saint, Chicago, Germany, London, Ireland, Brooklyn, Memphis, Berlin, Oslo, Dublin

☆ Iga Świątek: How ‘introverted’ tennis star became a four-time grand slam champion and the world’s highest-paid female athlete
▼ + stars: | 2024-05-24 | by ( George Ramsay | ) edition.cnn.com time to read: +8 min

CNN —Calm and understated, Iga Świątek rarely appears flustered by the triumphant highs and heart-breaking lows of professional tennis, but discovering that she would be crowned world No. Since rising to the top of the rankings, the Polish star has been a dominant force in women’s tennis, winning 16 titles – 21 in total – and only once dropping from the No. “When we started working in 2019, I was really, really introverted,” says Świątek. Last year, she became the first female athlete to be sponsored by sportswear brand On and has helped to develop the company inaugural tennis range. Świątek was estimated by Forbes to be the world's highest-paid female athlete last year.

Persons: Świątek, ”, “, –, ” Świątek, Aryna Sabalenka, Susana Vera, Roland Garros, you’re, there’s, hasn’t, “ We’re, Yves Herman, Daria Abramowicz, Karolína Muchová, Julien de Rosa, it’s, Eileen Gu, Coco Gauff, Emma Raducanu, Naomi Osaka, Aryna, Williams, Maria, Sharapova, ” Max Eisenbud, Taylor Swift, Andre Agassi, Lindsey Vonn, Robert Prange, Eisenbud, I’ve, ” “, Monica Seles, Justine Henin – Organizations: CNN, tennis, CNN Sport, Madrid, Reuters, Porsche, Rolex, Getty, Forbes ’, Tennis, Forbes, Serena, Brands Locations: Madrid, Rome, AFP, American, Świątek

☆ Volkswagen in concrete discussions over car partnerships in India
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +1 min

The logo of German car giant Volkswagen (VW) is seen on a Volkswagen ID Buzz van during the company's annual press conference to present the business report, on March 14, 2023 in Berlin. Volkswagen is in concrete talks about partnering up on passenger car production in India, the group's finance chief said on Thursday, adding it was tough to earn money in the market that still presents a "clear" opportunity. "We are in very good discussions," Arno Antlitz told the Reuters Events Automotive Europe conference in Munich, "it's very, very concrete," he added, without specifying. "I think we shouldn't underestimate the potential in India in terms of a market ... and in terms of regulatory uncertainty between the U.S. and China. At 101,553 delivered vehicles, India is so far a small market for Volkswagen, accounting for little more than 1% of deliveries across the whole group in 2023.

Persons: Arno Antlitz, Antlitz Organizations: Volkswagen, Reuters, Automotive, U.S, India's Mahindra, SKODA, Audi, Porsche, Lamborghini Locations: Berlin, India, Munich, China, Washington, Beijing, Aurangabad, Pune

☆ Indian teen allegedly kills two while drunk driving. As punishment, he was told to write an essay
▼ + stars: | 2024-05-22 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

CNN —Anger is growing in India after a teenager who allegedly killed two people while drunk driving was ordered to write an essay as punishment, with many demanding a harsher penalty and accusing the judiciary of leniency. The minor was taken into custody and later presented to the Juvenile Justice Board, where he was released on bail and given 15 days of community service. He was also asked to write an essay about road safety, Fadnavis said. “This was a surprising order passed (by the Juvenile Justice Board),” Fadnavis said. “It was wrong (to allow the minor to drive),” he told reporters outside his home, while fighting back tears.

Persons: Devendra Fadnavis, Fadnavis, ”, ” Fadnavis, Prashant Patil, Amitesh Kumar, Kumar, Suresh Koshta, ” Rahul Gandhi, India’s, ” Gandhi, Salman Khan, Khan Organizations: CNN, Porsche, Juvenile, Board, Pune Police, Indian National Congress, Bombay, Court Locations: India, Pune, Maharashtra, Mumbai

☆ Meme Stock Craze: the Sad Return of Roaring Kitty, GameStop, and AMC
▼ + stars: | 2024-05-16 | by ( Emily Stewart | ) www.businessinsider.com time to read: +5 min

Gill, who goes by Roaring Kitty on X and YouTube and by DeepFuckingValue on Reddit, was at the center of the 2021 GameStop saga. Shares of AMC, GameStop's fellow meme stock, surged by nearly 80% on Monday and 30% on Tuesday. What's changed is Roaring Kitty is tweeting, and not even really about a company. If you bought GameStop or AMC shares in 2021, it might not be a bad time to consider selling some to break even. Roaring Kitty is back, and people are tossing their money into the GameStop slot machine.

Persons: Keith Gill, Gill, Roaring Kitty, DeepFuckingValue, Davids, — Gill, tweeting, hasn't, me Gill, they're, it's, Robinhood, Bitcoin, Matt Damon, Eminem, Peter Kafka, cryptocurrency, Kitty Organizations: GameStop, YouTube, Porsche, AMC, UFC Locations: Massachusetts, What's, America

☆ Hyper-luxury golf carts that you can drive on the road
▼ + stars: | 2024-05-13 | by ( Jack Bantock | ) edition.cnn.com time to read: +7 min

But one Danish company is on a mission to put the art in golf cart. “When it came to the golf cart 18 years ago, they all looked the same – there weren’t any serious high-end products out there,” Lynge told CNN. You want something that’s sort of Lamborghini-shaped – very low and wide – but the golf cart is the exact opposite.”Tiger Woods rides a conventional golf cart at a tournament in 2005. Lynge took the prize ceremony event as an opportunity to pitch a dream that would be realized in 2016 – a Garia golf car inspired by Mercedes-Benz Style. “Really expensive … super exclusive, but also the coolest golf car you’ll ever see,” Lynge said.

Persons: Anders Lynge, Soren Bak Hansen, ” Lynge, Garia, Lynge, –, “, Woods, Jeff Gross, Mercedes, Lars Larsen, Lynges, ”, we’ve Organizations: CNN, Augusta National, Garia, Bentley, Lamborghini, Kussmaul, Mercedes, Benz, US, Lars Larsen Group Locations: Turnberry, Scotland, Copenhagen, German, Europe, €, London

☆ MDMA therapy could be legalized by summer. Why are so many advocates sounding the alarm?
▼ + stars: | 2024-05-13 | by ( Anna Silman | ) www.businessinsider.com time to read: +52 min

Last summer, thousands of tie-dyed Burners and Patagonia-clad tech founders converged on the MAPS Psychedelic Science conference in Denver. The experience "broke the spell of this trauma, and she was able to rebuild her life," Doblin told The Guardian . The video team's job was to store recordings of every MDMA therapy session performed in the clinical trials. Grof believes in something called an "inner healing intelligence," an innate capacity for self-healing that psychedelic therapy helps unleash. Another time, a patient who had come to an MDMA therapy session later acknowledged they had been under the influence of LSD during treatment.

Persons: Jaden Smith, Aaron Rodgers, bro, Andrew Huberman, Rick Doblin, Doblin, mainstreaming psychedelics, influencers, Johnson, Elizabeth Nielson, Aubrey Marcus, ayahuasca, Matthew Stockman, Helena —, Timothy Leary, —, Hitler, Stanislav Grof, zombified, Brad Burge, Michael Mithoefer, Annie Mithoefer, Oprah, Sen, Joe Biden, MDMA's neurotoxicity, they'd, Albert Hofmann, David Bronner, Dr, Joe's, Bronner, Bronner's, Richard Rockefeller, John D, Rockefeller Jr, Rockefeller, Neşe, Johns Hopkins, who's, Devenot, Rick Friedman, Betty Aldworth, MAPS's multimillionaire, Tim Ferriss, Cody Swift, Zendo, Aldworth, Erica Siegal, Seth Whitelaw, Amy Emerson, JULIE JAMMOT, Ifetayo Harvey, Harvey, Lauren Unger, Unger, Casey Hardison, Harvey didn't, Hardison, Doblin's, Baylee Ybarra Gatlin, Gatlin, negligently, There's, Michael Pollan's, Steve Jurvetson, Elon Musk's who's, Genevieve, Steve Cohen, Alexandra, Mark Zuckerberg's, Dustin Moskovitz, Cari, Gwyneth Paltrow, Paltrow, Sergey Brin, Joe Green, Green, Zuckerberg, Genevieve Jurvetson, Michael Pollan, Jonathan Lubecky, he'd, Rebekah, Robert Mercer, Elizabeth Koch, Charles Koch, Rachel Nuwer, Koch, she'd, MAPS's, Elizabeth Crystal, Joe Rogan, didn't, Jesus Christ, Crystal, Meaghan Buisson, Richard Yensen, Donna, Yensen, Buisson, weren't, Robert, Rebekah Mercer, Sean Zanni, Grof, They've, Kayla Greenstien, it's, George Sarlo who'd, Vicky Dulai, Sarlo's, Dulai, Gul Dolen, Michael Mullette, who'd, Marla Aufmuth, Mullette, Lily Kay Ross, David Nickles, Ross, Greenstien, Rick, Lenny Ignelzi, biostatisticians, Lykos, Peter Thiel, Kara Swisher, Kris Lotlikar, Federico Menapace, Mo Septimus, Handout, Monnica, Williams, Lotlikar, Henry Elkus, Helena ., Elkus, Emerson, ICER Organizations: Science, New York Jets, rockstar, Multidisciplinary Association for Psychedelic Studies, Lykos Therapeutics, and Drug Administration, FDA, Business, Florida's New College, Jewish Telegraphic Agency, Sarasota Herald, Tribune, New College, Guardian, Drug, Harvard's Kennedy School of Government, eBay, Nevada, Doblin, Pentagon, Department of Veterans Affairs, Department of Defense, Staff, Corporation, PBC, pharma, New Yorker, New York Mets, Bloomberg, CBS, Breitbart, CBC News, BI, Porsche, Santa Cruz, New York Times, longtime, Mullette Corporation, New York, Health Canada, Compass, Sciences, Psychedelic Science, Whole Foods, McKinsey, Big Pharma, Vine Ventures, Lucid, Street Journal, Investments, Gawker, Publicly, PBC alums, Numinus, US Army Locations: Patagonia, Denver, Harvard, Colorado, Skokie , Illinois, Ireland, Czech, Sarasota, Arcturus, Florida, Swiss, Vietnam, Washington, Santa Cruz, Chicago, California, Iraq, British Columbia, New York, Hawaii, Santa, Nature, Moderna, Europe, Helena, Yale, Australia, Canada, Israel, Ukraine, ICER, . Upper

☆ Porsche’s iconic 911 is going hybrid
▼ + stars: | 2024-05-13 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

A hybrid Porsche 911, with its gas engine assisted by at least one battery-powered electric motor, will officially be revealed in an online event on May 28. Porsche itself already sells plug-in hybrid models like the Cayenne e-Hybrid SUV and Panamera e-Hybrid four-door car but a hybrid 911 is another matter. This new hybrid model will be the closest Porsche can get to an electric 911 without raising those sorts of philosophical questions. But we do know the hybrid 911 is clearly faster than the current purely gas-powered 911. The faster time indicates the hybrid 911 has greater power due to the addition of electric assistance.

Persons: CNN —, ” Jörg Bergmeister, didn’t, Ferdinand Porsche Sr, Ferdinand “ Ferry, Ferry’s, Ferdinand “ Butzi Organizations: CNN, CNN — Porsche, Porsche, Volkswagen Locations: Cayenne

☆ Autos analysts pick who can survive China’s cut-throat EV market
▼ + stars: | 2024-05-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Investment analysts are coalescing around a few potential winners in China's car market after a 10-day auto show in Beijing put the ferocious competition on full display. "This year, we notice[d] a meaningful amount of foreign visitors who are Chinese brands' overseas dealers or importers," JPMorgan analysts said. Open to the public After two days of restricting access only to business and media, the Beijing auto show opened to the general public. Jefferies' analysts estimate the policy could boost China's passenger vehicle sales by 1 million units this year, evenly split between electric and gas-powered models. The analysts highlighted their Chinese car stock picks as Leapmotor, Geely and BYD, all rated buy and listed in Hong Kong.

Persons: Nick Lai, BYD, Tesla, hasn't, Elon Musk, Nezha, Asensing, Zhang Haizhou, Morgan, Lei Jun, Xiaomi, Jefferies, Bank of America Merrill Lynch, Leapmotor, — CNBC's Michael Bloom Organizations: Asia Pacific, JPMorgan, Porsche, Apple Vision, Brands, Mazda, Auto, Morgan Stanley Asia Pacific, EV, Bank of America, Trade, Ministry of Commerce, Volkswagen, VW, Toyota Locations: Beijing, China, Asia, Europe, Nio, Zhejiang, Hong Kong

☆ Cramer: Why Apple's Vision Pro could contribute to earnings sooner than expected
▼ + stars: | 2024-05-03 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

Apple did not disclose revenue for the Vision Pro, the company's first new major device since the Apple Watch debuted in 2015. The Vision Pro is generally considered a higher-quality product than rival devices, with its sharper resolution as one key advantage. Jim, however, said the Vision Pro could be a positive contributor to Apple's earnings much sooner than others expect, as enterprise adoption drives more sales. Lowe's is using Vision Pro for immersive kitchen design, while Porsche is using it for "real-time team collaboration for racing," Cook said. He said Friday that Apple's developer conference in June — where more details on its AI strategy are widely expected — will also highlight new software programs written for the Vision Pro.

Persons: Tim Cook, Cook, Jim Cramer, Jim, Nvidia's, Jensen Huang, Jim Cramer's, Angela Weiss Organizations: Vision, Apple, Club, Nvidia, Apple Watch, Wall, Meta, CNBC, Dutch, KLM, Porsche, AFP, Getty Locations: Nvidia's, —, New York City

☆ From Wall Street to Silicon Valley, AI specialists are a hot commodity
▼ + stars: | 2024-04-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Today's big story examines how recruitment for AI talent is ramping up in the tech industry and on Wall Street . AdvertisementEager to understand how to leverage the tech, companies are racing to scoop up AI specialists. But Big Tech companies aren't just competing with each other. With so many venture capitalists eager to fund AI ideas , some AI talent are starting their own companies. Businesses are already fighting the rule, but if it survives the courts it could mean even more movement of AI talent.

Persons: —, We've, we've, Justin Sullivan, Chelsea Jia Feng, Eager, Kali Hays, Ellen Thomas, Banks, it's, Getty, Sean Gladwell, Olga Pyrkina, Tyler Le, Amy Hood, Mark Zuckerberg, Zuckerberg, Johannes Eisele, Swan, Mark Spitznagel, Spitznagel, David Einhorn, there's, Dimitrios Kambouris, Leon Neal, Abanti Chowdhury, Bill Gates, Gates, BI Gates, Satya Nadella, Zs, Herman Miller Eames, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Getty Images, Anadolu Agency, Big Tech, Johannes, Getty, Federal Reserve, Reuters, Research, Capital Economics, Greenlight, Staff, Microsoft, BI, Paramount Locations: California, AFP, America, New York, London, Chicago

☆ New Status Symbol for Rich Young Men: a $7,000 Herman Miller Chair
▼ + stars: | 2024-04-28 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

"The Eames chair is basically meme status," said Joel Vanderveen, a 35-year-old from Minnesota who created a subreddit about a decade ago dedicated to all things Eames. "Until the last 10 years, when people would say to me they had an Eames chair, I never knew which one they meant," Kirkham said. The Eames chair is one of those rare luxury goods that checks all those boxes for novices and experts alike, in his view. Not everyone with the Eames chair has a new one, an expensive one, or even a real one. The Eames chair seems eco-friendly, too — they're not going to be tossing it out in two years.

Persons: he'd, that's, Herman Miller Eames, I'd, I'm, Eames, Herman Miller, Amy Auscherman, Herman Miller's, Joel Vanderveen, Charles, Ray Eames, Pat Kirkham, Kirkham, wasn't, it's, It's, Auscherman, Julia Mack, Jennifer Jones, Kyle, He's, Zak Cole, who'd, Shawn Pasternak, they're, Derek Guy, HENRY, Guy, Loren Kreiss, they've, Emily Stewart Organizations: MoMA, Kingston University, Playboy, Porsche, Ikea, Democrat, Business Locations: New York City's Queens, Minnesota, ottoman, London, Brooklyn , New York, San Francisco, Brooklyn, Nashville, Los Angeles, Michigan, Washington, It's, I'm

☆ Rich Young Men Want This Famous $7,000 Herman Miller Eames Chair
▼ + stars: | 2024-04-28 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

☆ Analysis: China’s EV market reshaped by a brutal elimination round
▼ + stars: | 2024-04-24 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —A “life and death race” has begun to unfold in the world’s largest market for electric vehicles (EV). More than a dozen passenger carmakers disappeared from the market last year, according to statistics from the China Passenger Car Association. Too many playersOvercrowding is another major issue plaguing China’s EV industry. Last month, Xiaomi, a Chinese smartphone brand, launched its electric car, the SU7 sedan. “China’s EV industry has entered a stage of cyclical adjustment after two decades of growth,” he said at a forum in Beijing.

Persons: ”, Tesla, Mark Rainford, Richard Yu, Li Auto, “ They’re, Huawei’s Aito, Lei Jun, BYD, Rainford, Gan Jiayue, Wang Chuanfu, Yin Tongyue Organizations: Hong Kong CNN, Auto China, YouTube, China, “, National Development, Reform Commission, China Passenger Car Association, WM, Mitsubishi Motors, Honda, Hyundai, Ford, Huawei, EV, China Association of Auto Manufacturers, China’s EV, Li, Tesla, Porsche, Geely Auto, Meizu, Chery Auto, International Energy Agency Locations: China, Hong Kong, Beijing, Shanghai, oversupply, Meizu

☆ Sebastian Steudtner says he has surfed the ‘unsurfable’ after drone technology measures 93.7-foot wave as world record
▼ + stars: | 2024-04-22 | by ( George Ramsay | ) edition.cnn.com time to read: +3 min

CNN —German surfer Sebastian Steudtner may have broken his own record for riding the biggest wave in history earlier this year. The monster wave in the famed surfing sport of Nazaré, Portugal was provisionally measured at 28.57 meters (93.72 feet), pending ratification. If confirmed, the wave would eclipse Steudtner’s current record of 26.21 meters (86 feet) set in 2020, also in the fishing village of Nazaré. Steudtner holds the record for the biggest wave ever surfed. “We were, for the first time, surfing the biggest waves in stormy conditions which were considered unsurfable.

Persons: Sebastian Steudtner, Steudtner, ”, “, Team Steudtner, Marcus Schmelz, Gigantes de Nazaré, Lucas “, ” Steudtner Organizations: CNN, CNN Sport, ” Porsche, Team, Porsche Engineering, Surf League, Quattro, Siemens Locations: German, Nazaré, Portugal

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