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☆ She Rose From Poverty as China Prospered. Then It Made Her Poor Again.
▼ + stars: | 2023-08-29 | by ( Li Yuan | More About Li Yuan | ) www.nytimes.com time to read: +1 min

Two years ago, as she walked through a hospital hallway in handcuffs and shackles to get tested for Covid, Sun Junli felt ashamed and defeated. The poor village girl in northwestern China had become a successful businesswoman. In 2018, state-owned banks abruptly stopped lending to her business, a chain of cafe restaurants, and the pandemic destroyed her cash flow. By May 2021, Ms. Sun had lost her restaurants, and she was serving 16 days in detention for owing her employees about $28,000 in wages. “We all came from nothing and worked hard to create wealth,” Ms. Sun said.

Persons: Sun Junli, Sun, Weeks, “, ”, Ms Organizations: Toyota Camry Locations: China, Xianyang, Shaanxi Province

☆ Vinfast rallies on after becoming world's third-most valuable automaker
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

The logo of VinFast is pictured at the 2022 Paris Auto Show in Paris, France October 17, 2022. The company made a blowout debut on Wall Street this month and has quickly grown in valuation to become the third-most valuable automaker - only behind Tesla (TSLA.O) and Toyota (7203.T). The stock was on track to add nearly $50 billion to its market capitalization, based on the premarket share price of $90.55. Vinfast expects to sell as many as 50,000 electric vehicles this year, compared with Tesla's projection to deliver 1.8 million cars. To drive sales, Vinfast is breaking away from the direct-to-consumer approach used by Tesla and turning to dealers.

Persons: Stephane Mahe, Pham Nhat Vuong, Tesla, Vinfast, Akash Sriram, Devika Organizations: REUTERS, Toyota, Ford Motor, General Motors, Reuters, P Global Mobility, U.S, Tesla, Thomson Locations: Paris, France, U.S, United States, North Carolina, Bengaluru

Buying a used car is a risk but gap coverage and a warranty make me feel better about that risk. When I started looking for a used car, I weighed everything I wanted in a car, and the biggest factor in my decision was cost. But I also know that getting a used car is one of the best choices I can make for the environment. Tax credits for used electric cars are worth up to $4,000The tax credits offered for electric cars have varied over the years, but the most recent big change came in August 2022, and it came with both upsides and downsides. Most of the tax credits for new electric cars only apply to cars assembled in the US.

Persons: I've, haven't, it's, Max Energi, It's, Joe Biden's, I'm Organizations: Service, Metro, Costco, Toyota Prius Prime Locations: Wall, Silicon, Virginia, Washington

☆ The Iten killings: Deaths of elite athletes casts spotlight on domestic violence
▼ + stars: | 2023-08-25 | by ( Faith Karimi | ) edition.cnn.com time to read: +15 min

Iten, Kenya (CNN) Martin Tirop pumps his fists in the air as Faith Kipyegon wins her third 1,500-meter gold medal at the World Athletics Championships on Tuesday in Budapest. Instead, on October 13, 2021, Martin Tirop made a gruesome discovery inside his sister's three-bedroom bungalow in Kenya's capital of distance running. In October 2021, Martin Tirop found the body of his sister, Agnes Tirop. In fact, their March 2016 marriage had been a secret, with Agnes' family only finding out after her death at 25. "Agnes Tirop.

Persons: Martin Tirop, Kipyegon, Agnes, Agnes Tirop, she'd, Martin, gurney, Jurkenaite, David Blood, Iten, Joan Chelimo, they're, Weeks, Eliud Kipchoge, She'd, Irungu Houghton, Njeri Migwi, Martin Tirop's, Ibrahim Rotich, Rotich, Tirop, Richard Warigi, Ngigi Mbugua, Mutua, CNN's, Houghton, Joan Chelimo's, Agnes Tirop's, Chelimo, Dinah, Vincent Tirop, Dinah Tirop Organizations: CNN, Adidas, Tokyo, Toyota, David Blood Investigators, crowing roosters, Boston Marathon, New, New York City Marathon's, Amnesty International, Kenyan, Criminal Investigations, Bahraini, Investigations, Investigators, Amnesty, Tirop's, Tirop's Angels, UN Locations: Iten, Kenya, Budapest, Kenya's, Switzerland, Germany, Nairobi, It's, Kaptagat, New York, Amnesty International Kenya, Mombasa, Ethiopia, Nandi County

☆ UAW members authorize strike at Detroit Three automakers
▼ + stars: | 2023-08-25 | by ( Shivansh Tiwary | ) www.reuters.com time to read: +2 min

Aug 25 (Reuters) - The United Auto Workers (UAW) union on Friday voted in favor of authorizing a strike at the Detroit Three automakers if an agreement over a new contract is not reached before the current one expires on Sept. 14, UAW President Shawn Fain said. "Our members expectations are high because Big Three profits are so high," Fain said. Stagnant pay, high healthcare costs, less sick time and uncertain scheduling have pushed American union workers to rethink their priorities after pandemic to seek higher wages, and better work-life balance. Michigan-based Anderson Economic Group has estimated that a 10-day strike that shuts down the automakers could cost manufacturers, workers, suppliers and dealers more than $5 billion. Walkouts at the Detroit Three could benefit Tesla (TSLA.O) and other non-union automakers, including Toyota Motor (7203.T) Honda Motor (7267.T), Nissan Motor (7201.T) and Hyundai Motor (005380.KS), Anderson said.

Persons: Shawn Fain, Fain, Aerosystems, Anderson, Shivansh, Nathan Gomes, Arun Koyyur Organizations: United Auto Workers, UAW, Detroit Three, General Motors, Ford Motor, Big, U.S, GM, Ford, Anderson Economic, Detroit, Toyota, Honda, Nissan, Hyundai, Thomson Locations: U.S, Detroit, Michigan, Bengaluru

☆ Lionel Messi lifts MLS to new heights, but the league needs more than 'the GOAT' to grow
▼ + stars: | 2023-08-24 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

Marco Bello | ReutersSince joining, Inter Miami rose to the highest-selling MLS team for tickets from the 13th spot on StubHub. The average ticket price for Inter Miami on StubHub is $161, nearly 64% higher than the league average. The overall average MLS ticket price is up to $98, while the average ticket price for the Leagues Cup overall was $152. Yes, what we're seeing in pricing for the MLS for Messi games is unprecedented. "Those average ticket prices were still three times what we're seeing for Messi games so far this year," Budelli said.

Persons: Lionel Messi, Logan Riely, Messi, it's, Camilo Durana, Lee Berke, David Beckham, Wayne Rooney, Thierry Henry, Neymar, Cristiano Ronaldo, Karim Benzema, Germain, –, Leo Messi, Marco Bello, he's, Durana, Marc de Grandpré, that's, Adam Budelli, Tom Brady –, StubHub, Lebron James, Budelli, Berke, Tom Brady, Adam Glanzman Organizations: FC Dallas, Toyota, Major League Soccer's Inter Miami CF, MLS, NFL, NBA, Public Investment Fund, French, Paris Saint, FC Barcelona, Inter Miami, Reuters, Messi, Apple, North, Liga MX, U.S, Leagues, Saturday, Red Bulls, New York Red Bulls, NFL Sunday, Tampa Bay, Disney, ESPN, ABC, Tampa Bay Buccaneers, New England Patriots, Gillette, Getty Locations: Frisco , Texas, U.S, Saudi Arabia, Argentine, Fort Lauderdale , Florida, Harrison , New Jersey, Manhattan, StubHub, Foxborough , Massachusetts

The renewed discussion hasn’t done much to revive the prospects of Japan’s own Communist Party, however. Mr. Saito is not a fan of the group, which he sees as well-meaning but stale. And even in rich nations, he does not call for people to give up their creature comforts. He recently moved into a three-story home in an upscale neighborhood on the outskirts of Tokyo and drives a compact Toyota. Achieving degrowth communism, he believes, is less about personal choices and more about changing overarching political and economic structures.

Persons: Saito, Mahbub ul Haq Organizations: Communist Party, Chinese Communist Party, Toyota, United Nations Locations: Soviet Union, Tokyo, G.D.P

HONG KONG, Aug 23 (Reuters Breakingviews) - Volkswagen’s (VOWG_p.DE) China shortcut sets a tricky roadmap for its western rivals. An increasingly competitive Chinese market means others may also need to plot a new route. VW’s western peers may feel they do not need to follow in its tracks. Second, VW’s Xpeng deal highlights how companies need to adapt quickly to stay relevant in China. Both partnerships will see the companies jointly develop intelligent, connected electric vehicles for the Chinese market.

Persons: China’s, that’s, Bernstein, Alix, Elon Musk’s, VW’s, Auto, Neil Unmack, Pranav Kiran, Thomas Shum Organizations: Reuters, HK, FAW, SAIC, VW, BMW, upstarts, Alix Partners, Elon, Mercedes, Benz, Nissan, General Motors, Honda, Toyota, Volkswagen, Volkswagen’s Audi, Zhejiang Leapmotor Technology, Jetta, Thomson Locations: HONG KONG, China, Xpeng, Kingdom, Shanghai, Hong Kong, Zhejiang

"Hybrid is a great alternative to a pure electric vehicle (and) it's an easier sell to a lot of customers." Interest in hybrids is rebounding as consumer demand for pure electrics has not accelerated as quickly as expected. Sales of pure electrics will claim about 37%, leaving combustion vehicles — including so-called “mild” hybrids — with a nearly 40% share. In addition to new pure electric models coming soon, "we are very bullish on hybrids going forward," a spokesperson said. Hyundai and sister brand Kia offer seven hybrid models, with Ford and Lincoln six.

Persons: Mike Blake, Tim Ghriskey, Ingalls, Snyder, ”, Sam Fiorani, Ford, Jim Farley, ” Farley, “, Stellantis, GlobalData, ” Stellantis, Andrew DiFeo, Augustine, Biden, “ I've, I've, Paul Lienert, Ben Klayman, Nick Zieminski Organizations: Toyota, Los Angeles Auto, REUTERS, Rights, Ford, Reuters, AutoForecast Solutions, P Global, General Motors, Chrysler Pacifica, U.S, Lexus, Hyundai, Kia, Lincoln, Chevrolet Corvette, Thomson Locations: Los Angeles , California, U.S, America, New York, St, Jacksonville , FL, Detroit

☆ The best and worst parts of being an NBC page: In the 70s, I worked with stars like Regis Philbin and Johnny Carson and was paid $1.90 an hour
▼ + stars: | 2023-08-22 | by ( Shelley Herman | ) www.businessinsider.com time to read: +9 min

I was an NBC page two weeks laterIt was 1976 and I was 20, still in college and clueless. Now in its 90th year, the NBC Page program is one of the most prestigious entry-level positions in the entertainment industry. I wish I could tell you there was one straight, surefire way to becoming an NBC page, but there isn't. My other friend Al got his NBC page job when the women who worked behind the scenes on "Wheel of Fortune" spotted him as a contestant on the show. She is the author of "My Peacock Tale: Secrets of an NBC Page."

Persons: Shelley Herman, Elvis Presley, pagedom, Janus, Jim Croce, Alice, Regis Philbin, Gene Rayburn, Chuck Barris, Peter Marshall, Neil, Al, Sandy, Johnny Carson, Pete, Julian Goodman, Chance, Hawkins, Roxanne, Don Rickles, Peter Isackson, C.P.O, Sharkey, Dinah, Johnny, Sid Caesar, Imogene, Sid, John Travolta, Diana Hyland, Jeff, Alfred Hitchcock, Hitchcock, Redd Foxx, Sanford, Son, Dick Clark, Freddie Prinze, Johnny Carson's, Harry Chapin, I've Organizations: NBC Studios, Service, Sears, Toyota, NBC Burbank, NBC, USC, Pasadena Civic Locations: Wall, Silicon, Burbank , California, Las Vegas, California, Pasadena

☆ Toyota halts production at Czech plant due to parts shortage
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

A Toyota Logo is seen at a Toyota dealership in Zaventem, Belgium, November 25, 2022. REUTERS/Johanna Geron/File Photo Acquire Licensing RightsPRAGUE, Aug 22 (Reuters) - The Czech plant of Japan's Toyota (7203.T) halted production due to a parts shortage caused by a fire at a local supplier, a spokesperson for the carmaker said on Tuesday. "We had to stop production yesterday evening. The outage is the second this year at the plant which produces 1,000 cars a day after a break in February. The Czech Republic is heavily dependent on the auto industry, led by Volkswagen's Skoda Auto (VOWG_p.DE).

Persons: Johanna Geron, Tomas Paroubek, Robert Muller, Kirsten Donovan Organizations: Toyota, REUTERS, Rights, Volkswagen's Skoda, Hyundai, Thomson Locations: Zaventem, Belgium, Czech, Czech Republic, KS

☆ US OKs state auto-repair law after raising hacking concerns
▼ + stars: | 2023-08-22 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

After discussions with Massachusetts, NHTSA said the state had clarified that automakers could comply with the law using a "short-range wireless compliance approach, implemented appropriately." The Massachusetts attorney general's office said it appreciated "NHTSA’s clarification today that our state law is not preempted by federal law." Automakers now must comply with the state law, the office said. The Alliance for Automotive Innovation, a trade group representing major automakers including General Motors (GM.N), Toyota Motor (7203.T) and Volkswagen (VOWG_p.DE) declined to comment but previously argued the state law would require automakers "to remove essential cybersecurity protections from their vehicles." The White House competition council engaged behind the scenes to help reach a resolution, a senior administration official said.

Persons: Brian Snyder, general's, Senators Elizabeth Warren, Ed Markey, David Shepardson, Jonathan Oatis, Andy Sullivan Organizations: Boston, REUTERS, Rights, Traffic Safety Administration, NHTSA, Alliance, Automotive Innovation, General Motors, Toyota, Volkswagen, Senators, Massachusetts, House, Thomson Locations: Somerville , Massachusetts, U.S, Massachusetts

☆ As China Falls Into Deflation, the Mood Turns Dark
▼ + stars: | 2023-08-21 | by ( Li Yuan | More About Li Yuan | ) www.nytimes.com time to read: +2 min

Consumer prices in China fell last month for the first time in more than two years. Chinese banks extended $47.5 billion of new renminbi loans, tumbling 89 percent from June — and half the amount of a year earlier. China slipped into deflation after the government’s draconian “zero Covid” policy drastically suppressed consumption and business activity last year. With anxiety running high, people are already saving more and spending less. He bought apartments in two complexes in 2019 and the developers of both stopped building after running out of money.

Persons: —, Chenggang Xu, ”, “, Liu Organizations: Stanford University, Toyota Corolla Locations: China

☆ Goldman Sachs names 6 stocks set to beat 'intense competition' in the EV industry
▼ + stars: | 2023-08-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

The second comprises companies that tap opportunities leveraging new tech and business, said Goldman, naming stocks such as Panasonic, Toyota Industries and Hon Hai Precision Industry. Tesla : Goldman noted that Tesla is ramping up its in-house battery manufacturing capabilities — in addition to its partnerships with battery suppliers. Goldman gave Toyota a buy rating, and 12-month target price of 2,800 Japanese yen ($19.25), representing about 19% potential upside. Toyota Industries : Last year, Toyota Industries developed a bipolar nickel-metal hydride battery for hybrid vehicles. Goldman gave Toyota Industries a neutral rating, and 12-month target price of 9,200 Japanese yen, representing about 7% potential downside.

Persons: Price, Goldman Sachs, Goldman, Hon Hai, Hai, Tesla, BYD, — CNBC's Michael Bloom Organizations: BYD, Toyota Motor, Panasonic, Toyota Industries, Hai Precision Industry, ICT, New, Toyota, EV Locations: Chinese, New Taiwan, EVs

☆ Amazon's 'Thursday Night Football' is winning over advertisers after a bumpy launch year, and a top exec says it will be 'aggressive' in pursuing more live sports
▼ + stars: | 2023-08-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

The tech giant is gearing up for a big 'Thursday Night Football' season with key matchups and new ad offerings. After hitting some snags with its inaugural NFL "Thursday Night Football" season on Prime Video last year, Amazon is bringing plenty of swagger to the field this year. Amazon is getting more TV ad dollars this year as the twin Hollywood strikes rage on, a top exec said. Amazon last year had also softened on its initial ask that advertisers buy the entire season's games and gave them the option to buy a portion of the games. Some advertisers were forgiving, though, given it was Amazon's first go at a live sports broadcast.

Persons: It's, Jay, Amazon's, We're, Al Michaels, Kaylee Hartung, NFL's, haven't, Kelly Metz, Marine, We'll, we'll Organizations: NFL, Football, Minnesota Vikings, Philadelphia Eagles, Toyota, Fox, ESPN, Amazon, Marine, Omnicom Media

[1/2] A worker cleans an electric-powered car Neta V, that is displayed during the Gaikindo Indonesia International Auto Show in Tangerang, near Jakarta, Indonesia, August 10, 2023. Dody Hartono, a visitor at the auto show who plans to buy his first EV by 2024, said he wants a better deal. Indonesia has ambitious EV growth plans as it races Thailand and India to build out an EV industry as an alternative to China, the world's largest producer. CONFIDENCE ISSUESToyota (7203.T), its affiliate Daihatsu, and Honda (7267.T) account for two-thirds of auto sales in Indonesia but have been slow to pivot to EVs. Toyota has said it has no plans yet to build an EV in Indonesia.

Persons: Willy Kurniawan, Dody, EVs, Hartono, China's, Hendra Pratama, Hendra Budi, –, Johan Purnomo, Stefanno Sulaiman, Kevin Krolicki, Himani Organizations: REUTERS, Hyundai, HK, Air EV Lite, Daihatsu, Huawei, Toyota, Honda, Mitsubishi Motors, Thomson Locations: Indonesia, Tangerang, Jakarta, Thailand, India, China, Southeast Asia

☆ A team of engineers turned a Toyota Land Cruiser into an EV and drove it underwater for 4 miles
▼ + stars: | 2023-08-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

A group of Australian engineers drove a Toyota Land Cruiser underwater for 4 miles last month. A team of engineers and divers in Australia converted a Toyota Land Cruiser into an EV and drove it underwater for more than four miles. The 1978 model was driven for 4.3 miles across Darwin Harbor at a depth of about 100 feet last month. A team of 30 divers was needed to get the Land Cruiser across the bottom of Darwin harbor. Bridgitt PhillipsThe volunteers bought the orange Land Cruiser for just over $3,000 in Brisbane.

Persons: Glen Summers, Maddy Stenmark Summers, Summers, Bridgitt Phillips, Maddy Stenmark Organizations: Toyota Land Cruiser, Toyota, Cruiser Locations: Australia, Darwin, Northern, Brisbane

It's just too early to tell," said George Glassman, president of Glassman Automotive Group, which sells five automotive brands outside Detroit. Since then, VinFast shares have retreated, and were down 17.2% at $24.92 at midday on Thursday. The new hybrid sales plan is just another challenge and the luxury carmaker is already talking to dealers. U.S. dealers said there are too many unanswered questions, including how VinFast will distribute parts needed to make repairs. Several dealers said VinFast may need to offer sweetened profit margins to dealers to account for the added risk.

Persons: It's, George Glassman, VinFast, Le, Thuy, Scott Fink, I'm, Tesla, Andrew DiFeo, Augustine, Warren Browne, Rhett Ricart, Dealers, it's, Ricart, Beau Boeckmann, Boeckmann, Ben Klayman, Phuong Nguyen, Matthew Lewis Organizations: Nasdaq, U.S, Reuters, Glassman Automotive, Ford, General Motors, U.S ., Fink Automotive Group, VW, Subaru, GM, Hyundai, Ricart Automotive, Toyota, Honda, Galpin Motors, Thomson Locations: U.S, North America, Detroit, VinFast, Tampa , Florida, St, Jacksonville , Florida, Columbus , Ohio, Los Angeles, VinFast's, Vietnam, Hanoi

☆ China's tanking economy is costing major US companies and could throw cold water on America's economic boom
▼ + stars: | 2023-08-17 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

China's slowing economy is chipping away at some American companies' revenues. China's July economic report didn't mention youth-unemployment statistics after it soared to 21.3% in the second quarter, citing economic and social changes. While Chinese manufacturing and construction are struggling to recover, some American companies with strong ties to China are also feeling the effects. Dow's rival DuPont also reported a drop in China sales from existing operations, a 14% year-over-year fall. To be sure, some American companies have performed well in China over the past few months.

Persons: Gamble, Stephen Williamson, Danaher, Rainer Blair, Howard Ungerleider, Edward Breen, Marriott Organizations: DuPont, Danaher, Procter, Service, Citigroup, Intel, Toyota, Nissan, Apple, Starbucks, Street Journal, Monetary Fund Locations: China, Wall, Silicon, American, Ohio, Greater China, Beijing

☆ EV battery imports face scrutiny under US law on Chinese forced labor
▼ + stars: | 2023-08-17 | by ( Nichola Groom | ) www.reuters.com time to read: +6 min

More than a year of enforcement of the Uyghur Forced Labor Prevention Act (UFLPA) has already stymied development of solar energy projects as detained panel shipments languish in U.S. warehouses. When shipments are detained, CBP provides the importer with a list of examples of products from previous reviews and the kind of documentation required to prove they are not made with forced labor, CBP told Reuters. "The timing of these changes does not reflect any specific changes in strategy or operations," a CBP spokesperson said in a statement, adding that the list of eight product types was "not exhaustive." In a report to Congress last month on UFLPA enforcement, CBP listed lithium-ion batteries, tires, "and other automobile components" among the "potential risk areas" it was monitoring. The stepped-up focus on automakers follows a study by Britain's Sheffield Hallam University published in December that said nearly every major automaker has exposure to products made with forced labor in Xinjiang.

Persons: Janet Yellen, Mark Schiefelbein, Dan Solomon, Chevalier, Solomon, Britain's, Ron Wyden, Wyden, we've, Tesla, Brandon Daniels, Nichola Groom, David Shepardson, Jan Schwartz, Daniel Leussink, Matthew Lewis Organizations: Reuters, U.S . Customs, Border Protection, Beijing, Uyghur, Labor, U.S . Solar Energy Industries Association, Biden, CBP, Miller, Britain's Sheffield Hallam University, U.S, Senate, Benz, Volkswagen, Friedrichshafen AG, Bosch, General Motors, Honda, Toyota, Continental AG, Thomson Locations: United States, Diaoyutai, Beijing, China, Xinjiang, U.S, Detroit, UFLPA, Los Angeles, Washington, Hamburg, Tokyo

The UAW president has rattled automakers with combative rhetoric, delivered via Facebook Live videos, including one where he threw contract proposals from Stellantis into a trash can. U.S. President Joe Biden on Monday urged the automakers and the union to come to a "fair agreement." The three automakers have signaled such a move would add billions in liabilities and make their unionized U.S. operations uncompetitive. Fain said the union's analysis concluded that the automakers could fund defined-benefit plans for roughly the same cost as current 401(k) savings plans. Walkouts at the Detroit Three could benefit Tesla (TSLA.O) and other non-union automakers including Toyota Motor (7203.T), Honda Motor (7267.T), Nissan Motor (7201.T) and Hyundai Motor (005380.KS), Anderson said.

Persons: Shawn Fain, Fain, Joe Biden, Biden's, Anderson, Joe White, Matthew Lewis Organizations: DETROIT, United Auto Workers, Reuters, Detroit Three, General Motors, Ford, UAW, Facebook, Detroit, Monday, Anderson Economic Group, Toyota, Honda, Nissan, Hyundai, Thomson Locations: North America, Michigan, U.S, Detroit, East Lansing , Michigan

☆ General Motors is investing in a startup working on better and cheaper EV batteries
▼ + stars: | 2023-08-16 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Future low-cost GM EVs could benefit from the batteries being developed by Mitra Chem. General Motors said on Wednesday it's leading a $60 million financing round in Mitra Chem, a California-based startup working to develop lower-cost batteries for electric vehicles. Mitra Chem, founded by veterans of Tesla and Toyota , is working to develop new types of batteries based on lithium iron phosphate chemistry. Tesla, Rivian and Ford Motor are among the automakers using LFP cells in their more affordable models. Golan said that if Mitra Chem is successful, its batteries could appear in GM's vehicles later in this decade.

Persons: Bolt, Tesla, Mitra Chem, General Motors, Chem, Mitra, Vivas Kumar, Gil Golan, Golan, Mitra Chem weren't Organizations: Ford, EVs, General, Toyota, Ford Motor, Mitra Locations: Orion Township , Michigan, Mitra, California

Consumers purchase gasoline at a gas station as a plane approaches to land at the airport in San Diego, California October 8, 2012. National retail gasoline prices will average $3.90 a gallon this month, predict analysts at Goldman Sachs. Jones said he was relieved prices were not close to the $5 a gallon level of last summer. Total U.S. gasoline stocks this month fell to 216.4 million barrels, the fifth decline in six weeks, according to U.S. government data. Reporting by Laura Sanicola and Shariq Khan; editing by Stephanie Kelly and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Goldman Sachs, Martin Jones, Jones, Irving Oil's, Patrick De Haan, Laura Sanicola, Shariq, Stephanie Kelly, Aurora Ellis Organizations: REUTERS, Consumers, American Automobile Association, Toyota Corolla, Washington , D.C, U.S . Midwest, Total U.S, U.S . National Oceanic, Atmospheric Administration, NOAA, Hurricanes, Thomson Locations: San Diego , California, California, Washington, Massachusetts, Washington ,, U.S, Ohio, Michigan, Whiting , Indiana, New Brunswick, Canada, Trainer ,, Texas, Gulf

☆ Typhoon Lan makes landfall in western Japan, threatens damage
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

Approaching from the Pacific Ocean, Typhoon Lan made landfall at the southern tip of Wakayama prefecture, some 400 km (250 miles) southwest of Tokyo. The typhoon, which followed closely on the heels of Typhoon Khanun during Japan's peak Obon holiday season, lashed wide swathes of central and western Japan with heavy rains and powerful winds. Anticipating the dangerous levels of winds and rains a day earlier, high-speed train operators had also planned suspensions of services affecting the area. Typhoon Lan had sustained winds of 150 kph (93 mph) and was moving northwest across the western part of the main island of Honshu as of 0000 GMT. It was forecast to reach the Sea of Japan by early Wednesday and continue north along the sea, according to Japan's weather agency.

Persons: Typhoon Lan, Khanun, Chang, Kim, Shri Navaratnam Organizations: Toyota Motor Corp, NHK, Toyota Motor, Thomson Locations: Japan, Wakayama prefecture, Tokyo, Mie, Osaka, Tokai, Typhoon, Honshu

Nissan late last month upgraded its full-year operating profit forecast, raising it by 30 billion yen ($208 million) to 550 billion yen. About 20 billion yen of that came from the currency, CFO Stephen Ma told a briefing. At smaller Subaru (7270.T), a move of one yen against the dollar has a 20 billion yen impact on operating profit, CFO Katsuyuki Mizuma said earlier this month. On Wednesday, a Honda official said its April-June operating profit came in tens of billions of yen higher than expected, with the weak yen accounting for about half of that. It is unclear how long the weak yen will last.

Persons: Aly, Satoru Aoyama, Stephen Ma, Katsuyuki Mizuma, Eisuke Sakakibara, Mizuma, Daniel Leussink, David Dolan, Toby Chopra Organizations: Auto, REUTERS, Toyota, Honda, Nissan, Fitch, Japan, U.S . Federal Reserve, Subaru, Lexus, Reuters, Thomson Locations: Auto Shanghai, Shanghai, China, Asia, Europe, CHINA

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