DIRS.INFO The most relevant business & tech news

☆ Forget the U.S: Pros say another top market looks cheap and offers the 'best' opportunities
▼ + stars: | 2023-10-09 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

Attractive returns and the breadth of opportunities are among the many reasons the U.S. has long reigned supreme for investors. In terms of countries, Japan looks to offer the best combination of earnings growth, cheap valuations and policy support," Tom Stevenson, investment director at Fidelity International, told CNBC Pro. "Japanese shares are trading on around 15 times this year's expected earnings and 14 times earnings two years out," he said. "There has been some increase in this multiple during the recent rally in Japanese shares, but they remain relatively cheap compared to the U.S. which trades on around 20 times earnings." Among his choices is the Baillie Gifford Japanese Fund, which he describes as a "growth-focused fund run by an experienced manager."

Persons: Tom Stevenson, Daniel Hurley, Rowe Price, Stevenson, TRP's Hurley, Fidelity's Stevenson, Hurley, Baillie Gifford Organizations: Fidelity International, CNBC, CNBC Pro, Japan, Tokyo Exchange Group, Stock, Japan's, Bank of Japan, Sony, Astella Pharmaceuticals, Fund, Schroder Japan Trust, SoftBank, SBI Holdings, Hitachi, Nippon Gas, Toyota, Japan IMI Locations: Japan, U.S

☆ San Francisco quarterback Brock Purdy makes nearly $1 million a year—but splits rent with a roommate and drives a Toyota SUV
▼ + stars: | 2023-10-09 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +3 min

San Francisco 49ers starting quarterback Brock Purdy, a captain on one of the league's two remaining undefeated teams, isn't one of them. He splits rent with one of his teammates, an offensive lineman, and drives a Toyota Sequoia SUV, he told NBC's "TODAY" last week. It has the the third-highest cost of living in the U.S., possibly contributing to Purdy's desire for a roommate. A one-bedroom apartment or condo's median monthly rent in San Francisco is $2,993 — 137% higher than the national median — according to Zillow data. And in baseball, New York Yankees star pitcher Gerrit Cole kept driving his 2006 Toyota Tacoma truck after signing a $324 million contract for a simple, logical reason: It still worked, he told NJ.com in 2021.

Persons: Brock Purdy, NBC's, Purdy, Rob Gronkowski, Gronkowski, Kawhi Leonard, Gerrit Cole, NJ.com, hasn't Organizations: National Football League, San Francisco 49ers, Toyota Sequoia, NFL, of Famer, CNBC, National Basketball Association, Sports Illustrated, San Antonio Spurs, New York Yankees, Toyota Tacoma, 49ers Locations: San Francisco, U.S

☆ Desmond Tutu's modest car reminds South Africans of his values
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +2 min

Archbishop Desmond Tutu laughs as crowds gather to celebrate his birthday by unveiling an arch in his honour outside St George's Cathedral in Cape Town, South Africa, October 7, 2017. REUTERS/Mike Hutchings/File Photo Acquire Licensing RightsCAPE TOWN, Oct 7 (Reuters) - South Africa's anti-apartheid hero Desmond Tutu could have chosen practically any car in the world when billionaire Warren Buffett offered to buy him a vehicle. The Desmond Tutu Intellectual Property Trust, which manages his legacy, has put the old car on show along with his books and possessions in honour of Tutu's 92nd birthday, which he would have celebrated on Saturday. The car, displayed in Cape Town, the city where the archbishop lived for most of his later life, became a symbol of Tutu's values. Desmond Mpilo Tutu, awarded the Nobel Peace Prize in 1984 for his non-violent opposition to white minority rule, died in 2021.

Persons: Desmond Tutu, Mike Hutchings, Warren Buffett, Mercedes Benz, Tutu's, Mamphela Ramphele, Tutu, Ramphele, Nelson Mandela, Desmond Mpilo Tutu, Esa Alexander, Anait Miridzhanian, Andrew Heavens Organizations: REUTERS, Toyota Corolla, Trust, Reuters, Thomson Locations: St George's Cathedral, Cape Town , South Africa, Cape Town, Africa

☆ Tesla cuts US prices of Model 3, Y in push to meet delivery goal
▼ + stars: | 2023-10-06 | by ( Urvi Manoj Dugar | ) www.reuters.com time to read: +2 min

Tesla Model 3 vehicles are shown for sale at a Tesla facility in Long Beach, California, U.S., May 22, 2023. The price cuts by Tesla - now by about 2.7% to 4.2% - started in January to support sales in an uncertain economy and fend off competition from U.S. automakers such as Ford and China's BYD. The standard Model 3 sedan is now $1,250 cheaper at $38,990, while the Model Y long-range variant costs $2,000 less at $48,490, the automaker's website showed. Overall, the standard Model 3's prices have come down by about 17% since the start of the year, while the Model Y long-range variant has seen a drop of over 26%. The price cuts will also add pressure on the "Detroit Three" as they deal with an unprecedented strike by autoworkers' union.

Persons: Mike Blake, Tesla, autoworkers, Urvi Dugar, Jyoti Narayan, Nilutpal, Shubham Kalia, Akash Sriram, Nivedita Bhattacharjee, Arun Koyyur Organizations: Tesla, REUTERS, U.S, Ford, Toyota, Alpha, Reuters, Thomson Locations: Long Beach , California, U.S, Bengaluru

☆ Auto workers worry it takes less labor to build electric cars. Maybe not, some researchers say
▼ + stars: | 2023-10-06 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

It’s not that simple, though, and some researchers argue that the labor savings of electric vehicles have been greatly overstated. These were among several research reports that found little total difference in the labor hour requirements of EV manufacturing compared to gas-powered cars. Boston Consulting estimates that making battery cells takes up about 8% of the total labor to produce an entire automobile. That’s slightly higher than the percentage of labor needed to produce a gasoline engine, he said. Ford also expects to train 5,000 people to work at a joint-venture battery manufacturing facility currently under construction in Kentucky.

Persons: That’s, Turner Cotterman, Cotterman, ”, Erica Fuchs, Nathan Niese, Gerald Johnson, “, Fuchs, “ You’ve, ” Ford, Ford, that’s, Niese, They’ve Organizations: CNN, United Auto Workers, Carnegie Mellon University, McKinsey, Company, Carnegie Mellon, Boston Consulting, EV, General Motors, Battery, Toyota, BMW, Hyundai, UAW Locations: United States, Marshall , Michigan, Kentucky, Ohio, Boston

In a few cases, according to NHTSA, ARC air bag inflators could be blocked by small pieces of debris, stopping the gases from escaping as they should. In May 2023, General Motors recalled 1 million GM vehicles with the air bags. NHTSA estimated the risk of one of these inflators rupturing at one in every 370,000 air bag deployments. But officials said the only way to know if an air bag has the defect is for it to actually rupture. NHTSA and various automakers are still working to get vehicle owners to replace all the air bags involved in that recall.

Persons: Jacob Tarvis, Marlene Beaudoin, Tarvis, inflators, Kia Optima, General Motors, ”, Donna Glassbrenner, Steve Gold, Gold, “, — Ford Organizations: CNN, Traffic Safety Administration, ARC Automotive, Delphi Automotive Systems, NHTSA, ARC, Chrysler Town &, General, GM, BMW, Fiat Chrysler Automobiles —, Hyundai, Kia, Benz, Porsche, Tesla, Toyota, Volkswagen Locations: United States, Canada, Turkey, Traverse

☆ These 2 Chinese EV makers are in awkward pricing ranges and might fail
▼ + stars: | 2023-10-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThese two Chinese EV makers are in awkward pricing ranges and 'the days are numbered'Jason Hsu of Rayliant Global Advisors discusses China's global push in the EV sector and picks two Chinese automakers as the Toyota and Nissan of the EV world.

Persons: Jason Hsu Organizations: Rayliant Global, EV, Toyota, Nissan

☆ Michael Lewis says being around Sam Bankman-Fried was a downgrade from his more materialistic life: 'The food was worse. The company was worse.'
▼ + stars: | 2023-10-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Michael Lewis, the author of "Going Infinite," said being around SBF was a lifestyle "downgrade." Lewis met Sam Bankman-Fried more than 100 times and interviewed his FTX colleagues for the book. So I always felt it was a downgrade moving into his world," Lewis told Emily Donaldson in a Wednesday report in The Globe and Mail, a Canadian newspaper. I would have had as much trouble with this crowd when I was 25," Lewis told Donaldson. Lewis told CBS's "60 Minutes" the crypto exchange would still be making "tons of money" if there hadn't been a run on customer deposits.

Persons: Michael Lewis, Lewis, Sam Bankman, —, Emily Donaldson, Fried, Donaldson, CBS's Organizations: Service, Canadian, Toyota Corolla, Bankman Locations: SBF, The Globe, Bahamas, Hong Kong

☆ Washington reusable rocket startup Stoke Space raises $100 million
▼ + stars: | 2023-10-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Washington-based startup Stoke Space raised $100 million in new funds, the company announced Thursday, as it aims to develop a fully reusable rocket called "Nova." Stoke's latest investment round was led by Industrious Ventures – with the firm's Steve Angel, chairman of chemicals giant Linde , joining the Stoke board of directors. While a number of U.S. companies are aiming to develop reusable rockets to compete with the success of Elon Musk's SpaceX, Stoke is taking a different approach from its rivals. Stoke is developing Nova to be a "medium" class rocket that can deliver 5,000 kilograms to low Earth orbit. That puts Nova in the middle of the launch market, between Rocket Lab's "light" Electron and SpaceX's "heavy" Falcon 9 in terms of capability.

Persons: Steve Angel, fundraise, Bill Gates, Andy Lapsa, Elon, Lapsa, Nova Organizations: Stoke Space, Linde, Stoke, University of Michigan, Sparta Group, Breakthrough Energy, Point72 Ventures, MaC Ventures, Toyota Ventures, CNBC, SpaceX Locations: Washington, Stoke

☆ Toyota deal: We now have 9 of the 10 top automakers as our clients, says LG Energy Solution CEO
▼ + stars: | 2023-10-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailToyota deal: We now have 9 of the 10 top automakers as our clients, says LG Energy Solution CEOKwon Young-soo, CEO of South Korean battery maker LG Energy Solution, discusses its battery supply deal with Toyota for U.S. electric vehicles. He says "out of the 10 global automakers, we're working with eight of them. One thing I wanted to change was the fact that we didn't have any business with the No. 1 player, Toyota. Now, we have a deal with Toyota."

Persons: Kwon Young Organizations: Toyota, LG Energy, South, LG, U.S Locations: South Korean

☆ Porsche-backed Sensigo deploys AI tools to smooth vehicle repairs
▼ + stars: | 2023-10-05 | by ( Paul Lienert | ) www.reuters.com time to read: +2 min

REUTERS/Leonhard Simon/File Photo Acquire Licensing RightsOct 5 (Reuters) - German automaker Porsche (P911_p.DE) and investor UP.Partners have launched Sensigo, a California-based startup using artificial intelligence to enable vehicle service technicians to diagnose, resolve and eventually predict repair issues. Sensigo said its AI-powered service platform and tools can improve the repair process for customers and techs, while boosting service center profitability, reducing repair costs and minimizing warranty risk. The partners’ first startup, Pull Systems, announced in March, manages electric vehicle battery performance. In addition to Porsche, UP’s investment partners include Toyota’s (7203.T) Woven Capital, Alaska Air Group (ALK.N), ARK Invest and others. Portfolio companies include aerial vehicle startups Skydio and Beta Technologies.

Persons: Leonhard Simon, UP.Partners, Sensigo, Paul Lienert, Nick Macfie Organizations: Porsche, REUTERS, Systems, Alaska Air Group, ARK Invest, Beta Technologies, Thomson Locations: German, Munich, Germany, California, Santa Monica, Capital, United States, Detroit

☆ You have to pay a whopping $76,000 just to be allowed to own a car in Singapore
▼ + stars: | 2023-10-05 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

Drivers in Singapore have to bid for a Certificate of Entitlement to own a car there. AdvertisementAdvertisementIf you want to own and drive a car in Singapore, you're going to have to pay up: Drivers have to now shell out a whopping $76,000-plus to get the right to buy a vehicle there. That certificate is now upwards of a record 146,002 Singapore dollars, about $106,000, for an SUV, Reuters reported. AdvertisementAdvertisementIt costs at least 76,000 Singapore dollars just to own a smaller vehicle, or what's considered a standard Category A car. The expense comes on top of the cost of the car itself, making vehicle ownership in Singapore unobtainable for many.

Persons: —, what's Organizations: Service, Reuters, Toyota Locations: Singapore, Singapore unobtainable, New York

☆ Toyota, LG Energy Solution sign $3 billion battery supply deal in U.S. EV push
▼ + stars: | 2023-10-05 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

The deal will support Toyota's expanding battery EV line-up, which includes a new model that will be assembled at a manufacturing plant in Kentucky — its largest globally — starting in 2025. LG Energy Solution also supplies other automotive giants such as America's General Motors , South Korea's Hyundai, and Japan's Honda . Less than five months ago, LG Energy Solution said it will build a $4.3 billion EV battery plant in the U.S. with Hyundai, in a bid to leverage tax credits. LG Energy Solution will invest about 4 trillion Korean won ($3 billion) "to establish new production lines for battery cells and modules exclusively for Toyota, with completion slated for 2025." Chinese competitionLG Energy Solution is currently the world's third-largest EV battery producer after Chinese EV player BYD, according to data from South Korean energy market research firm SNE Research.

Persons: Youngsoo Kwon, Kwon, Toyota's, Japan's Organizations: Korea's LG Energy, Toyota, LG Energy, CNBC, America's, Motors, Hyundai, Japan's Honda, U.S, Lexus, LG, EV, BYD, SNE Research Locations: U.S, Kentucky, Toyota's Tokyo

Toyota logo is seen at a Toyota Society Motors showroom in Karachi, Pakistan, July 27, 2022. LGES will invest $3 billion in its Michigan battery facility to supply Toyota exclusively. LGES also is a partner with General Motors (GM.N) in the Ultium battery joint venture, which is building a separate $2.1 billion plant in Lansing, Michigan to supply GM's electric vehicles. LGES will supply Toyota with 20 gigawatt-hours of high-nickel NCMA battery modules annually from the South Korean company's Michigan facility. The battery maker will establish new production lines in Michigan for pouch-type battery cells and modules for Toyota.

Persons: Akhtar Soomro, LGES, Shivansh, Shilpi Majumdar, Cynthia Osterman Organizations: Toyota, Toyota Society Motors, REUTERS, LG Energy, General Motors, Hyundai, Honda, Panasonic, Prime Planet Energy & Solutions, Korean company's, Thomson Locations: Karachi, Pakistan, KS, U.S, Michigan, Lansing , Michigan, North Carolina, Korean company's Michigan, Bengaluru

☆ The founder of Tesla's biggest China rival reportedly drank a glass of battery fluid to impress one of Warren Buffett's lieutenants
▼ + stars: | 2023-10-04 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Its founder, Wang Chuanfu, once drank battery fluid to impress big-name investors, the Wall Street Journal reported. AdvertisementAdvertisementThe founder of Chinese automaker BYD, Tesla's biggest global EV rival, once drank battery fluid in front of a big-name investor to show just how serious he was about his company, the Wall Street Journal reported Wednesday. David Sokol, a lieutenant of Warren Buffett's Berkshire Hathaway, noticed BYD's momentum and visited the company in Shenzhen as early as 2008, according to the Wall Street Journal. BYD saw some hiccups as other Chinese EV makers entered the market and Tesla shored up its Chinese operations. Aside from BYD's unique business achievements, its two head executives also have a noteworthy and fascinating dynamic, the Wall Street Journal reported.

Persons: Elon Musk, Wang Chuanfu, BYD, —, Stella Li, Tesla, David Sokol, Warren Buffett's Berkshire Hathaway, Sokol, Wang Organizations: Elon, Wall Street Journal, Service, EV, Wall Street, Sony, Wall, Motorola, Nokia, Toyota Corolla Locations: China, Shenzhen, Berkshire, BYD, Europe, Southeast Asia, Munich

Cars for sale are parked at used car dealerships in Singapore October 17, 2022. Including COE, registration fees and taxes, a new standard Toyota Camry Hybrid currently costs S$251,388 ($183,000) in Singapore, compared with $28,855 in the U.S. A small, government-subsidised flat in Singapore costs about S$125,000. Now Guan lives without a car, focusing on other perks that Singapore offers for his family. "As a family man, it doesn’t affect me much as Singapore still has a good and stable education system. ($1 = 1.3725 Singapore dollars)Reporting by Xinghui Kok; Editing by Miyoung Kim and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Edgar Su, COEs, Tan Ern Ser, Tan, Jason Guan, Guan, Xinghui Kok, Miyoung Kim, Gerry Doyle Organizations: REUTERS, Rights, Toyota Camry, Toyota Rush, COE, Singapore, Thomson Locations: Singapore, Rights SINGAPORE, U.S

☆ US new vehicle sales jump in third quarter as UAW strike casts shadow
▼ + stars: | 2023-10-03 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 3 (Reuters) - Top global automakers on Tuesday reported a rise in U.S. new vehicle sales for the third quarter, buoyed by resilient demand for latest models and improved supplies. EV sales jumped 28% in the third quarter from the preceding quarter, the company said. Meanwhile, Asian brands posted strong gains in the quarter. Toyota Motor Corp (7203.T) posted a 12.2% rise in third-quarter U.S. sales. However, the South Korea-based automaker said rising interest rates "make it very, very challenging for consumers to purchase a vehicle."

Persons: Andrew Kelly, Tesla, Nathan Gomes, Joseph White, Sriraj Organizations: GMC, General Motors Company, REUTERS, General Motors Co, EV, United Auto Workers, UAW, Detroit Three, GM, Motor, Toyota Motor Corp, Kia, Hyundai, U.S, Reuters, Monday, Thomson Locations: Queens , New York, U.S, KS, South Korea, Bengaluru, Detroit

☆ GM third-quarter US sales surge 21% on resilient demand for SUVs, pickups
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 3 (Reuters) - General Motors Co's (GM.N) third-quarter U.S. auto sales jumped about 21%, the company said on Tuesday, fueled by improved supply and sustained demand for its SUVs and pickup trucks. The Detroit automaker's quarterly sales rose to 674,336 vehicles, from 555,580 vehicles a year earlier. Rival Toyota Motor Corp (7203.T) reported a 12.2% rise in third-quarter U.S. auto sales. While it did not address the impact of the latest strike, a 40-day UAW strike in 2019 led to a 6% fall in sales in the fourth quarter of that year and cost the automaker $3.6 billion.

Persons: Rebecca Cook, General Motors, Nathan Gomes, Sriraj Organizations: General Motors, REUTERS, General, Detroit, U.S, Rival Toyota Motor Corp, Kia, Hyundai, United Auto Workers, UAW, Detroit Three, GM, Thomson Locations: Detroit , Michigan, U.S, KS, Bengaluru

☆ US car sales climb despite strike and rising interest rates
▼ + stars: | 2023-10-03 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —US new car sales soared in the third quarter, despite the combination of a strike at General Motors, Ford and Stellantis, high prices and rising interest rates. “New-vehicle sales have remained somewhat consistent as pent-up demand keeps sales afloat despite economic challenges,” said Jessica Caldwell, Edmunds’ head of insights. “However, the landscape can change dramatically, and quickly, if the strike continues.”Rising ratesAnother factor that could slow sales at all automakers is rising interest rates, which is raising the average car payment to record levels. It’s the highest average interest rates for both types of loans since the start of the Great Recession and financial crisis of 2007. “Spiked interest rates remain the biggest impediment to affordability in both the new and used car markets today,” said Caldwell.

Persons: that’s, ”, Ivan Drury, Edmunds, “, ” Ford, Jessica Caldwell, Ford Bronco, Caldwell Organizations: New, New York CNN, General Motors, Ford, GM, Jeep, Dodge, Chrysler, Edmunds ., Toyota, Lexus, United Auto Workers, UAW, Ford Explorer, Lincoln Aviator, Traverse, Buick Enclave, Federal Reserve Locations: New York, Edmunds, Ford Chicago

DETROIT (AP) — Automakers posted big increases in new vehicle sales during the summer, despite high prices, rising interest rates and even a limited strike against Detroit companies. Industry sales rose 16.3% from July through September as consumer demand stayed strong, even given an average new vehicle loan rate of 7.4% and an average vehicle price of more than $45,500. Vehicle supplies also continued to recover from shortages of computer chips and other parts that began during the pandemic and are finally abating. General Motors posted a 21.2% increase, while Toyota sales rose 12.2%. Kia sales rose 13.8%.

Persons: ”, Ivan Drury, Drury, General Motors, Power, Ford Organizations: DETROIT, Detroit, Industry, Federal Reserve, General, Toyota, Honda, Nissan, Hyundai, Kia, Ford, Analysts, United Auto Workers, General Motors, Stellantis Locations: U.S

☆ Tesla's Cybertruck is still MIA
▼ + stars: | 2023-10-02 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Details on Tesla's futuristic-looking Cybertruck are still sparse. AdvertisementAdvertisementThe Tesla Cybertruck still hasn't officially launched yet, missing CEO Elon Musk's third-quarter target. Details on the Cybertruck are still sparseSome Cybertruck order-holders have told Insider that they are concerned about how few details Tesla has shared with them on the Cybertruck. And this isn't just any Tesla vehicle launch: it's Tesla's entrance into the highly-competitive pickup truck market, where specs and prices are closely followed by shoppers. Tesla hasn't set a date for the Cybertruck launch partyIn late August, Tesla said customers could buy invitations to a Cybertruck delivery event using 30,000 referral credits, which owners accrue through Tesla purchases.

Persons: Elon Musk, —, hasn't, Elon Musk's, Tesla, Musk, Sam Fiorani, Fiorani, Ford Organizations: Service, Industry, AutoForecast Solutions, General Motors, Toyota

☆ US new auto sales likely rose in Q3, but UAW strikes may pose speed bump
▼ + stars: | 2023-10-02 | by ( Shivansh Tiwary | ) www.reuters.com time to read: +2 min

But that may change after the United Auto Workers (UAW) union launched unprecedented, coordinated strikes against GM, Ford (F.N) and Stellantis (STLAM.MI) last month. "The production disruptions caused by the strike will have ramifications for potential sales levels moving through the fourth quarter," S&P Global Mobility said in a note. The automakers haven't disclosed a financial hit from the strikes so far and September sales are likely to be unscathed given the inventory built up in anticipation of the strike. U.S. new vehicle sales likely rose 17% to 3,941,700 units, whereas, the September seasonally adjusted annualized rate is expected to be 15.4 million units, consultants J.D. Automakers are expected to report quarterly sales in the coming days.

Persons: Carlos Barria, autoworkers, haven't, J.D, GlobalData, Shivansh, Shounak Dasgupta Organizations: REUTERS, General Motors, Toyota, United Auto Workers, UAW, GM, Ford, P Global Mobility, Detroit Three, Detroit, Thomson Locations: Port of Richmond, San Francisco , California, Edmunds, Bengaluru

By last year, with sanctions elsewhere tightening, Russia was buying more than a quarter of Japan's used-car exports for an average price of almost $8,200. That was more than double the price in 2020, when Russia took about 15% of Japan's used-car exports. Those sales had been on track to top $1.9 billion for all of 2023 before Japan imposed its own tougher sanctions, trade data show. A system of mandatory inspections pushes the cost of maintaining used cars higher for customers in Japan. Battery recycling firm 4R Energy has seen a "significant" tailwind from declining used-car prices, including the Nissan Leaf, said chief executive Yutaka Horie.

Persons: Sergei Karpukhin, Japan's, we've, Olesya Alekseeva, Takanori Kikuchi, Wataru Nishiwaki, Yutaka Horie, Daniel Leussink, Gleb Stolyarov, Kevin Krolicki, Sonali Paul Organizations: Toyota, REUTERS, Rights, SV Alliance, Japan's Ministry, Economy, Trade, Industry, Honda, Energy, Nissan, Sumitomo, Thomson Locations: Moscow, Russia, Ukraine, Japan, New Zealand, Southeast Asia, Africa, Toyama, Russia's Vladivostok, Malaysia, Mongolia, Pakistan, Tanzania, Niigata prefecture

TOKYO (AP) — Business sentiment among big Japanese manufacturers improved in July-September for the second straight quarter, according to a central bank survey released Monday. The Bank of Japan's “tankan” quarterly survey measured business sentiment among major manufacturers at plus 9, up from plus 5 in June. That’s tough for Japan, which imports almost all its oil, at a time when the Japanese yen is weakening. For the tankan’s projection of business sentiment three months from now, large manufacturers are expecting an improvement of 1 point at plus 10. What the Bank of Japan will do to interest rates in coming months is being closely watched.

Persons: ”, Toshihiro Nagahama, ___ Yuri Kageyama Organizations: TOKYO, Japan's, Dai, ichi, Toyota, Nintendo, Bank of Locations: Ukraine, Japan, Bank of Japan

☆ UAW strike chaos isn't all good news for Tesla
▼ + stars: | 2023-10-01 | by ( Tim Levin | Nora Naughton | ) www.businessinsider.com time to read: +5 min

Big gains in the UAW strike could bolster another organizing drive at Tesla. The UAW is looking to remake its reputation among auto workers. AdvertisementAdvertisementA new contract could spur union attempts elsewhereThe UAW strike comes amid a rejuvenated labor movement post-Covid, and after a summer jam-packed with union activism. About 54% of Americans support the UAW strike, according to a recent Morning Consult poll. AdvertisementAdvertisementOrganizing at Tesla still won't be easySome Tesla workers are in the early stages of forming a union, a UAW official told The New York Times.

Persons: —, Elon Musk's Tesla, they're, Arthur Wheaton, Tesla, Shawn Fain, paydays, Fain, Jake Rosenfeld, Louis, Kate Andrias, Andrias, Rosenfeld, Musk, backpay Organizations: UAW, Volkswagen, Honda, Toyota, Service, General Motors, Ford, Elon, United Auto Workers, GM, Cornell University, Detroit, Washington University, Columbia University, New York Times, EV, National Labor Relations Board Locations: Wheaton, Illinois, Michigan, St, New York , California , Nevada, Texas

Search resuls for: "Toyota"

25 mentions found