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☆ Ford CEO Jim Farley Throws Shade at the Cybertruck's Viral Off-Road Video
▼ + stars: | 2023-11-16 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

A video of Tesla's Cybertruck struggling to make it up a dirt hill went viral on Friday. On Wednesday, Ford CEO Jim Farley appeared to shade the rival carmaker with his own off-road demo. On Wednesday, Ford CEO Jim Farley appeared to shade the rival carmaker by posting a video of the F-150 Lightning, his company's flagship electric vehicle, making its way up a very similar dirt hill. 👍 pic.twitter.com/uCMUSxUIpj — Jim Farley (@jimfarley98) November 15, 2023He captioned the video, "F-150 Lightning does it all." The F-150 Lightning was released to consumers in 2022, and is the company's first fully electric pickup truck.

Persons: Tesla's Cybertruck, Jim Farley, —, Elon Musk, Tesla, ord Organizations: Ford, Service, EO Locations: Hollister

☆ EV maker Canoo slashes spending for second half of 2023, forecasts smaller loss
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

A view shows the Canoo logo on a Canoo LV (Lifestyle Vehicle) electric vehicle outside a manufacturing site in Livonia, Michigan, U.S. November 29, 2022. The EV maker expects capital expenditure of $30 million to $40 million in the second half of 2023, compared with its prior forecast range of $70 million to $100 million. Canoo projects core loss to be between $85 million and $105 million for the second half, versus its previous range of $120 million to $140 million. Adjusted loss per share was 6 cents, compared with LSEG estimates of a 12-cent loss. Its cash and cash equivalents were $8.3 million as of Sept. 30, compared with $5 million in the preceding three months.

Persons: Rebecca Cook, Canoo, Tony Aquila, EVs, Aquila, Samrhitha, Shilpi Majumdar Organizations: REUTERS, Ford, General Motors, U.S . Defense Department, Walmart, NASA, Thomson Locations: Livonia , Michigan, U.S, Oklahoma, Bengaluru

☆ It's increasingly unlikely Amazon will ever catch up to Walmart in online groceries
▼ + stars: | 2023-11-15 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Amazon is continuing to lose market share to Walmart in the online grocery space, per new data. Amazon has spent 2023 reevaluating its grocery strategy, particularly for its Amazon Fresh stores. AdvertisementAfter years of trying to get shoppers to order groceries online, Amazon is still losing ground to Walmart. Walmart's grocery sales online have eclipsed Amazon's by increasingly wide margins since 2019, according to data from Insider Intelligence. By the end of 2024, Walmart will have 26.9% of online grocery sales, while Amazon will have just 18.5%, according to the data.

Persons: —, Brian Lau, Andy Jassy, Amazon, Lau Organizations: Walmart, Intelligence, Amazon, Service, Insider Intelligence, Business, Insider Inc, Whole Foods, Axios, Foods, Bloomberg Businessweek, Bloomberg

☆ Here’s a rapid-fire update on all 35 stocks in our portfolio, including a new industrial
▼ + stars: | 2023-11-15 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Honeywell International (HON): This is the most undervalued stock in our portfolio, Jim said. In a diversified stock portfolio, Jim said there's always room for high-quality companies like P & G, which also has a track record of raising its dividend. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club.

Persons: Jim Cramer's, Jim, Bausch, That's, Dupont De Nemours, Dupont, Danaher, Walt Disney, Estee Lauder, Locker, Vimal Kapur, we're, We've, we've, Linde, Eli Lilly, Eli, hasn't, Mark Zuckerberg, Meta's, Zuckerberg, Morgan Stanley, Morgan Stanley's, Ted Pick, James Gorman, he's, there's, Patience, Stanley Black, Decker, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Amazon Web Services, Broadcom, VMWare, Bausch Health, Caterpillar, Costco Wholesale, Coterra Energy, Disney, Eaton Corp, Emerson, Ford, Union Auto Workers, GE Healthcare Technologies, General Electric, GE, Management, Google, YouTube, Honeywell International, Honeywell, Linde, LIN, Reality Labs, Microsoft, Nvidia, U.S, Oracle, Palo Alto Networks, Procter & Gamble, Starbucks, Constellation Brands, Corona, Modelo, Stanley, TJX, Wynn Resorts, WYNN, Trust Locations: China, India, Salesforce's, redeploy

☆ Tesla's backtracked $50,000 resale fee could be a sign the Cybertruck isn't destined for the mainstream yet
▼ + stars: | 2023-11-15 | by ( Grace Kay | Nora Naughton | ) www.businessinsider.com time to read: +4 min

The fee could be a sign the Cybertruck might be a smaller release than expected, experts said. AdvertisementTesla's rescinded $50,000 resale fee is the latest sign the Cybertruck won't hit the market in large numbers anytime soon. These restrictions are rare, but they're most commonly used on limited-production vehicles, Stephen Beck, founder and managing partner of consultancy cg42, told Business Insider. "It's really hard to say how many people on the reservation list will actually buy it," Moody told Business Insider. "There will be just as many people who want to work the system to make money as people who want to own this vehicle," Moody said.

Persons: Tesla, —, Elon Musk, Stephen Beck, cg42, Elon, Beck, Musk, Brian Moody, Moody, Ivan Drury, Edmunds, Drury, Ford, John Cena Organizations: Service, Ford GT, scalpers

☆ African online retailer Jumia's Q3 losses narrow with further fall expected
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Workers are seen inside an Africa-focused tech startup Jumia Technologies, pickup station in downtown central business district in Nairobi, Kenya November 16, 2021. REUTERS/Monicah Mwangi/File Photo Acquire Licensing RightsJOHANNESBURG, Nov 15 (Reuters) - African e-commerce firm Jumia Technologies said on Wednesday that cost savings had helped it reduce third quarter losses by 67% from a year earlier, with a further sharp drop expected this year. It now expects an adjusted 2023 EBITDA loss of $80 million to $90 million compared to the previously communicated range of $90 million to $100 million. Quarterly active consumers fell 24.3% to 2.3 million, largely driven by deliberate decisions to focus on core categories and reduce consumer incentives. Inflation effects persisted in the period, affecting both consumers' spending power and sellers' ability to source goods from abroad, Jumia said.

Persons: Monicah, Jumia, Francis Dufay, Nqobile Dludla, Kirsten Donovan Organizations: Technologies, REUTERS, Rights, Jumia Technologies, New York Stock Exchange, Revenue, Thomson Locations: Africa, Nairobi, Kenya, Rights JOHANNESBURG

☆ Hamas bodycam video shows early moments of massacre and tunnels under Gaza
▼ + stars: | 2023-11-15 | by ( Oren Liebermann | ) edition.cnn.com time to read: +7 min

Hamas video provided by Israeli Defense ForcesThe video marks the first time that Israel has publicly released footage of Hamas tunnels in Gaza it says were being used on the day of the attack. The video shows him run past one man who readies a rocket-propelled grenade on his shoulder. The video shows the gunman with the bodycam charging the last bit as he spots an Israeli soldier on the ground. He asks God for victory and “well-deserved martyrdom.”Hamas video provided by Israeli Defense ForcesFrom here, the group advances on motorbikes, speeding along nearly empty Israeli roads. The timestamp on the video shows that it is just after 7:40 in the morning.

Persons: Israel CNN —, “ Allahu Akbar, ”, “, God, Ein HaShlosha Organizations: Israel CNN, CNN, Israel Defense Forces, IDF, Israeli Defense Forces, Hamas, AK Locations: Tel Aviv, Israel, Gaza, Kissufim, Nova, Ein, Re’im

☆ US House: Court fights could tip control in 2024
▼ + stars: | 2023-11-14 | by ( Joseph Ax | ) www.reuters.com time to read: +8 min

The state's highest court, the Court of Appeals, will hear arguments this week over whether to order a new map for 2024, as Democrats have asked, or to maintain the current map, as Republicans have argued. The new map was made possible by the state Supreme Court, after two conservative judges won election in 2022. The court's previous Democratic majority had thrown out a Republican map as an illegal gerrymander. UTAH: DEMOCRATS COULD GAIN ONE SEATThe state Supreme Court is weighing whether a Republican-drawn map that divided Democratic-leaning Salt Lake County into four districts violated the state constitution. The Republican state party has appealed.

Persons: Shannon Stapleton, Ron DeSantis, Al Lawson, Steve Jones, Brian Kemp, Jim Cooper, Joseph Ax, Jason Lange, Scott Malone, Jonathan Oatis Organizations: REUTERS, U.S . House, Representatives, Census, Democrats, Democratic, House, SEAT, Republican, Black Democrat, District, Black, U.S, Supreme, NORTH CAROLINA, REPUBLICANS, SOUTH CAROLINA, South, voters, NEW, SEAT Republicans, SEAT Civil, U.S . Department of Justice, Thomson Locations: Queens, New York City, U.S, Alabama, New York, FLORIDA, Florida, Black, GEORGIA, LOUISIANA, ALABAMA, UTAH, Salt Lake County, NEW MEXICO, TENNESSEE, Nashville's, TEXAS

☆ Drivers of boxy SUVs and pickup trucks are more likely to kill pedestrians, study finds
▼ + stars: | 2023-11-14 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

Researchers at the institute looked at records of almost 18,000 incidents in which vehicles struck pedestrians. Tall front ends are common among full-size trucks and SUVs but they aren’t exclusive to very big vehicles. In general, vehicles with box-shaped front ends, even when they’re only medium height, are roughly 26% more likely to kill a pedestrian, according to the IIHS. NHTSA has also proposed adding pedestrian safety tests to its regimen of crash tests and other safety measurements for new vehicles. But automakers should also consider pedestrian safety in the design of their vehicles, IIHS president David Harkey said in a statement.

Persons: aren’t, IIHS, ”, Wen Hu, “, that’s, Motors, Ford, David Harkey Organizations: CNN, Insurance Institute for Highway Safety, Research Transportation, Vehicles, Institute, Traffic, Administration, ”, Alliance, Automotive Innovation, NHTSA, U.S

☆ Found document suggests Iran sought to help Hamas make its own weapons ahead of attack, sources say
▼ + stars: | 2023-11-14 | by ( Jake Tapper | Katie Bo Lillis | ) edition.cnn.com time to read: +4 min

The Israeli government declined to comment on the document, though sources in the government confirmed its authenticity on background. Israeli officials say this is the first known instance of Iran attempting to fund this kind of university-hosted training for Hamas operatives, a claim US officials said they could not confirm. Current and former US officials say the program is part of a well-known training program Iran provides to students from allied countries and groups to project soft-power influence across the region. As of now, Israeli intelligence has identified only a few Hamas military operatives who have already arrived in Iran. One candidate is marked to study “technologies,” one to study “physics,” one to study engineering,” one to study “programming,” one to study “law” and two to study “management.”

Persons: Jonathan Panikoff, ”, Panikoff, ” Panikoff Organizations: Washington CNN, CNN, Hamas, Lebanese, United Nations, Islamic Revolutionary Guard Corps Locations: Gaza, Iran, Israel, East, Tehran, “

Motor vehicles with higher, more vertical front ends raise risks for pedestrians, according to a highway safety organization. But among vehicles with hood heights between 30 and 40 inches, a blunt, or more vertical, front end increases the risk to pedestrians. Vehicles with hood heights of more than 40 inches and blunt front ends angled at greater than 65 degrees were 44% more likely to cause fatalities. “There’s no functional benefit to these massive, blocky fronts.”While sloping front ends did not reduce the risk posed by vehicles with the tallest hoods, they did make a difference for vehicles with hood heights of 30 inches to 40 inches. There was a 25% increase in the risk of a fatality for vehicles with flat hoods — those with angles of 15 degrees or less — compared with vehicles with more sloping hoods.

Persons: ”, Wen Hu, “ Organizations: The Insurance Institute for Highway Safety, IHS, Research Transportation Locations: U.S

☆ Ford offers the latest twist in the truck tailgate wars. Here's a look at 100 years of Ford tailgates.
▼ + stars: | 2023-11-13 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

The new Ford Pro Access tailgate is the latest in 100 years of Ford tailgates. AdvertisementAdvertisementFord's latest take on the pickup truck tailgate is hitting dealer lots on the 2024 Ford F-150. The refreshed F-150 can be equipped with the new Pro Access Tailgate, which has several new configurations. In addition to dropping open like a typical truck tailgate, the Pro Access Tailgate can swing out like a door to provide easier access to the bed. AdvertisementAdvertisementTake a look at the evolution of the Ford tailgate here:

Persons: Ford tailgates, Ford, —, Ram, It's Organizations: Ford, Chevrolet, Service

☆ Korea, Taiwan and Vietnam will continue to benefit from tech exports pickup in 2024: Goldman Sachs
▼ + stars: | 2023-11-13 | 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 EmailKorea, Taiwan and Vietnam will continue to benefit from tech exports pickup in 2024: Goldman SachsAndrew Tilton of Goldman Sachs shares the investment bank's Asia growth outlook in 2024.

Persons: Goldman Sachs Andrew Tilton, Goldman Sachs Organizations: Email Korea, Goldman Locations: Taiwan, Vietnam, Asia

☆ Hyundai Motor breaks ground on $1.5 bln EV plant in South Korea
▼ + stars: | 2023-11-13 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

ULSAN, South Korea, Nov 13 (Reuters) - Hyundai Motor Co (005380.KS) on Monday broke ground on a 2 trillion won ($1.52 billion) dedicated electric vehicle (EV) plant in South Korea, as the automaker accelerate a shift to electrification. Hyundai Motor Group, which encompasses Hyundai Motor, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. Hyundai Motor Group's Executive Chair Euisun Chung, Hyundai Motor's Chief Executive Officer and other officials, including the Ulsan Metropolitan City Mayor, attended the event to witness the ground breaking of the EV factory, the automaker's first new plant in South Korea in 29 years. The groundbreaking comes after Hyundai Motor said it would stick to its EV rollout plans - a contrast to some rivals that have pulled back on EV production due to cooling demand. Last year, Hyundai Motor Group broke ground on a $5.54 billion EV and battery plants in the U.S. state of Georgia.

Persons: Euisun Chung, Jaehoon Chang, Chang, 1,316.5100, Heekyong Yang, Ed Davies Organizations: Hyundai, Hyundai Motor, Kia Corp, Hyundai Motor Group, Kia, Genesis, Hyundai Motor's, Ulsan Metropolitan City Mayor, EV, General Motors Co, Chevrolet Silverado, GMC, Ford Motor, Tesla Inc, GM, Honda, Thomson Locations: ULSAN, South Korea, Ulsan, U.S ., Georgia, United States, Michigan, Mexico

☆ Hyundai plans to make 200,000 EVs a year at $1.5 billion plant in South Korea
▼ + stars: | 2023-11-13 | by ( Diksha Madhok | ) edition.cnn.com time to read: +1 min

New Delhi CNN —Hyundai Motor has kicked off construction on a 2 trillion won ($1.5 billion) facility in South Korea that will be dedicated to manufacturing electric vehicles. The group, which owns the Hyundai and Kia brands, held the groundbreaking ceremony on Sunday in Ulsan, where the carmaker built its first assembly plant in 1968. The new factory will be capable of producing 200,000 electric vehicles a year, the company said in a statement. The Korean carmaker’s investment in electric vehicles comes at a time when some of its rivals are taking the foot off the pedal. Meanwhile, Hyundai Motor Group, is also investing $5.5 billion in Georgia to build electric vehicles and battery facilities.

Persons: ”, Euisun Chung, General Motors Organizations: New, New Delhi CNN — Hyundai, Hyundai, Kia, Ulsan, Hyundai Motor Group, General, Ford Locations: New Delhi, South Korea, Ulsan, Korean, Georgia

☆ Tesla will sue you for $50,000 if you try to resell your Cybertruck in the first year
▼ + stars: | 2023-11-12 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Tesla has released the sale terms for its long-awaited Cybertruck ahead of its 30 November release. AdvertisementAdvertisementCustomers set to receive the first Tesla Cybertrucks this November will be prevented from reselling their vehicles during the first year, according to Tesla's terms and conditions. Tesla added a section titled "For Cybertruck Only" to its Motor Vehicle Order Terms, which laid out the new rules. If Tesla does not want to purchase the vehicle, it may then agree to let the customer sell it to someone else. First announced in 2019, the Cybertruck is Tesla's first new product in years, and it is expected to shake up the electric pickup truck market.

Persons: Tesla, Musk, —, Elon Musk Organizations: Service, Fast Company Locations: @ElectrifyExpo, Austin

☆ Joe Manchin wants to mobilize the middle of the country. What does that even look like?
▼ + stars: | 2023-11-11 | by ( Zachary Wolf | Analysis Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

The idea that either party could pick up six Senate seats in a single election seems crazy today, when only a handful of seats are viewed as truly competitive. The country and West Virginia changed around ManchinJust before Manchin arrived in the Senate, there were two Democrats representing West Virginia and two Republicans representing Arizona. One person who is running to replace Manchin, West Virginia Gov. While they are on defense in key races across the country, Democrats’ two remotely plausible pickup opportunities, in Florida and Texas, are also states that went for Trump. Meanwhile, now that he’s not running for reelection, Manchin wants to take his brand on the road.

Persons: Sen, Joe Manchin, Manchin, There’s, there’s, Jim Justice, Donald Trump, Joe Biden, CNN’s Simone Pathe, Kyrsten Sinema, ”, What’s, codifying Roe, Wade, “, ” Manchin, He’s Organizations: CNN, Republicans, Senate, Republican, Democrats, Dakotas, West, Arizona, West Virginia Gov, Democratic, GOP, White House, Trump, Democratic Party, ’, The, House, Biden, White Locations: Kentucky, West Virginia, Massachusetts, Arkansas, Arizona, Manchin, Montana and Ohio, Pennsylvania, Wisconsin, In Arizona, Florida, Texas, Alabama, Georgia, New York, North Carolina, Washington, America

☆ UAW workers at GM's Flint plant narrowly vote against new labor deal
▼ + stars: | 2023-11-10 | by ( Shivansh Tiwary | ) www.reuters.com time to read: +2 min

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook Acquire Licensing RightsNov 10 (Reuters) - United Auto Workers (UAW) union members at General Motors' (GM.N) Flint assembly plant in Michigan have narrowly voted against a proposed contract with the U.S. automaker, the local chapter said. In a Facebook post on Thursday, the UAW Local 598 said 51.8% of votes cast were against the proposed deal. The vote signals that approval of the deal, which is set to raise costs significantly for GM, is not guaranteed. Union workers are voting on contracts from each of Chrysler-owner Stellantis (STLAM.MI), General Motors and Ford Motor (F.N), after the first coordinated strike against Detroit's Big Three automakers.

Persons: Rebecca Cook, Stellantis, Erik Gordon, Mack Trucks, Nathan Gomes, Shivansh, Sriraj Organizations: General Motors, REUTERS, United Auto Workers, UAW, U.S ., GM, Workers, Chrysler, Ford, Detroit's Big, Silverado, Detroit Three, University of Michigan, Detroit, Honda, Volvo Group, Thomson Locations: Detroit , Michigan, U.S, Flint, Michigan, Bengaluru

☆ Man vs. Musk: A Whistleblower Creates Headaches for Tesla
▼ + stars: | 2023-11-10 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: +1 min

(Some of the information came from a second, unidentified Tesla employee.) The Data Protection Authority in the Netherlands, where Tesla has its European headquarters, is investigating whether the breach violated privacy laws. Tesla and three lawyers representing the company did not reply to requests for comment. In the United States, Benson Pai, a former Tesla production worker, has sued the automaker in federal court in California, claiming that lax security by Tesla exposed employee information that could be sold to criminals. Lawyers for Mr. Pai are seeking approval from a judge to pursue the case as a class action on behalf of tens of thousands of Tesla employees.

Persons: Handelsblatt, Tesla, Krupski, Benson Pai, Pai Organizations: Wired, Data Protection Authority, Mr Locations: Netherlands, United States, California

The party in 2024 is defending Democratic-held seats in West Virginia, Montana and Ohio — all states that Trump carried handily in 2020. They have very few pickup opportunities — their best being Republican-held seats in Texas and Florida, both states Trump won twice. Meanwhile, the White House issued a statement praising Manchin's dedication to the people of West Virginia and his accomplishments in Washington. Biden said the Manchin family "should feel proud of the Senator’s service to West Virginia and to our country. When asked about a prospective Manchin presidential run, Biden's campaign declined to comment.

Persons: Joe Biden's, ” Manchin, Utah Sen, Mitt Romney, Romney, Dan Winslow, “ Sen, ” Romney, Liz Johnson, Manchin, Cornel West, Robert Kennedy Jr, Joe Manchin, Donald Trump, ”, Rahna Epting, “ Joe Manchin, “, Matt Bennett, Bennett, he’s, ” Bennett, America’s, Biden, Trump, Sen, Kyrsten Sinema, David Bergstein, we’ve, Jim Justice, Will Weissert Organizations: Democratic, Federal, Commission, Progressive, White House, White, West, Republican, Senate Democrats, Republican Gov, Associated Press Locations: Boston, Manchin, Utah, Texas, Massachusetts, West Virginia, New Hampshire, Trump's, West Virginia , Montana, Ohio, Michigan, Nevada , Pennsylvania, Wisconsin, Arizona, Florida, West, Washington

☆ Amazon’s top Fresh exec says store reopenings are part of broader grocery revamp
▼ + stars: | 2023-11-10 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +7 min

Peters now oversees Amazon Fresh and reports to ex-Tesco executive Tony Hoggett, who leads Amazon's physical stores business. Shoppers check out the sale items as they wait in line for the new Amazon Fresh store to open on E. Colorado Blvd in Pasadena, CA Thursday, September 15, 2022. In addition to the Woodland Hills Fresh store, Amazon reopened locations in nearby Pasadena and Irvine this week, after redesigning two Chicago-area Fresh stores in August. Amazon Fresh store in Los Angeles neighborhood of Woodland Hills Annie Palmer'Where's the butter located?' On Thursday, Amazon said it's opening the Fresh grocery delivery service to everyone in the U.S., after trials in a handful of cities.

Persons: Annie Palmer, Andy Jassy, Claire Peters, Peters, Tony Hoggett, Dilip Kumar, Stephenie Landry, Jeff Bezos, Amazon, Honey Grahams Organizations: Amazon, Woolworths, Amazon Fresh, Tesco, CNBC, Walmart, . Colorado, Medianews, los Angeles Daily, Getty, Citibank, Amazon Web, Woodland, Foods, Alexa Locations: Los Angeles, Woodland, ., Pasadena , CA, Woodland Hills, Amazon, Pasadena, Irvine, Chicago, U.S

☆ Here’s why saving this Illinois auto plant is a ‘gigantic deal’
▼ + stars: | 2023-11-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

Now the United Auto Workers union can add one more. Illinois is not a political battleground state like Michigan or Ohio, which have far more auto plants. But that plant is now due to reopen as an assembly plant in 2027, building a new midsize pickup truck. President Joe Biden speaks to the United Auto Workers union in Belvidere, Illinois, on Thursday. And it’s what happened with the last GM assembly plant in Detroit, its Hamtramck Assembly plant, that as part of the 2019 labor deal was closed in early 2020 and re-tooled to make electric pickups, reopening in November 2021.

Persons: Joe Biden, Shawn Fain ., “, ”, Jeff Schuster, Fain, Biden, ” Fain, Evan Vucci, ” ‘, Dawn Sims, Stellantis, Schuster Organizations: New, New York CNN —, Motors, Stellantis, Ford, United Auto Workers, UAW, Stellatis, GM, Workers, GlobalData, Chrysler, Hamtramck Assembly Locations: New York, Belvidere , Illinois, Shawn Fain . Illinois, Michigan, Ohio, Belvidere, Illinois, Chicago, Stellantis, Delaware, Edmunds, Sterling Heights , Michigan, Detroit, Hamtramck, Spring Hill , Tennessee, Orion Township , Michigan, Lordstown , Ohio, Warren , Michigan, Baltimore

☆ Democratic Sen. Joe Manchin Won’t Run for Re-Election in West Virginia
▼ + stars: | 2023-11-09 | by ( Katy Stech Ferek | ) www.wsj.com time to read: 1 min

Sen. Joe Manchin said his decision was one of the toughest he has had to make in his lifetime. Photo: Anna Moneymaker/Getty ImagesWASHINGTON—Sen. Joe Manchin (D., W.Va.) said Thursday that he won’t run for another term in the U.S. Senate, as he faced a tough re-election bid in a state that has turned more conservative during his tenure. The decision is expected to hurt Democrats’ effort to hold on to the Senate, which they currently control 51-49. West Virginia is seen as one of Republicans’ top pickup opportunities, along with Montana and Ohio, and Manchin was seen as the only Democrat who had a shot at holding on to the seat.

Persons: Sen, Joe Manchin, Anna Moneymaker, WASHINGTON — Sen, Manchin Organizations: Getty, WASHINGTON, U.S . Senate, Senate, Republicans ’, Democrat Locations: U.S, West Virginia, Montana and Ohio

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. That has left NAB, ranked third for mortgages but first for business loans, in a prime position as the country's retail lenders look elsewhere for growth. We're not abandoning (mortgages), we're tilting towards our business bank." Larger mortgage rival Westpac (WBC.AX) also posted a higher annual profit on Monday, despite a decline in home loan profit. The company's net interest margin, a closely-watched bank metric of lending interest income minus payouts to deposit accounts, shrank to 1.71% as of Sept. 30, from 1.77% at March-end.

Persons: Daniel Munoz, Ross McEwan, We're, Azib Khan, Roushni Nair, Archishma Iyer, Shounak Dasgupta, Jamie Freed Organizations: National, REUTERS, NAB, SYDNEY, National Australia Bank, Westpac, P, Thomson Locations: Sydney, Australia, Bengaluru

☆ 20 US cities where home prices are expected to take off due to affordability and tax advantages — plus where mortgage rates could be by the end of 2024, according to a property-data firm
▼ + stars: | 2023-11-09 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

Contagion from spiking yields quickly trickled into real estate, lifting the average 30-year fixed mortgage rate above 8%. "Even before mortgage rates went up to 8%, we saw significant slowing in home sales activity, and some recent reports pointed to a 12-to-13-year low." But where mortgage rates will be depends on the fed funds rate. Following this trend, CoreLogic indicators forecast that mortgage rates could be at about 6.3% by year-end. Forecasts are based on multiple metrics including home prices, the unemployment rate, real disposable income per capita, and population growth.

Persons: Selma Hepp, Hepp Organizations: Reserve Locations: California

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