DIRS.INFO The most relevant business & tech news

☆ CNH Industrial buys Augmenta to boost crop treatment accuracy
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

MILAN, March 13 (Reuters) - Italian-American vehicle maker CNH Industrial (CNHI.MI) has acquired U.S. company Augmenta, valuing its strategic partner at $110 million, in a bid to help farmers harness technology to increase the effectiveness of crop spraying. CNH, a maker of farm machinery and construction equipment sees so-called precision technologies as a key competitive feature in its agriculture business, its largest one. The group, whose revenue topped $25 billion in 2022, has said it was pursuing an estimated contribution from precision technology components of $1 billion to this year's net sales. CNH already owned a 10.5% stake in Augmenta through its venture capital arm CNH Industrial Ventures. The deal, which will be funded with available cash, is expected to be closed in the first quarter, CNH Industrial said.

☆ Caterpillar union workers vote in favor of six-year labor agreement
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

March 12 (Reuters) - The United Auto Workers (UAW) union said members at four local chapters working at Caterpillar (CAT.N) have voted in favor of a new six-year labor contract with the firm, preventing a strike at the world's largest construction and mining equipment-maker. The contract covers roughly 7,000 union workers at plants in central Illinois and a parts distribution center in York, Pennsylvania. It wasn't immediately clear how many members voted to ratify the contract. Rank and file union workers at the company have expressed anger and frustration over the deal, saying that wage increases weren't commensurate in the face of rising inflation. The UAW's contract ratification with Caterpillar comes just six months ahead of the deadline for the union and the three Detroit automakers concluding new master contracts covering roughly 143,000 workers.

☆ CNH Industrial CEO on the impact of inflation and rising rates on the agricultural and construction equipment business
▼ + stars: | 2023-03-01 | 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 EmailCNH Industrial CEO on the impact of inflation and rising rates on the agricultural and construction equipment businessCNH CEO Scott Wine discusses the health of the farm and construction equipment business, whether customers are slowing investment and expansion due to inflation and rising rates, and the impact of global commodity prices.

☆ Silicon Valley layoffs are a boon for tech-hungry farm equipment makers
▼ + stars: | 2023-02-13 | by ( Bianca Flowers | ) www.reuters.com time to read: +7 min

The executives said the newly available tech talent could inject much-needed expertise into farm equipment manufacturing, helping to transform the industry through the use of more artificial intelligence and automation. Detroit automakers are also hiring tech workers to meet the growing software needs of vehicles, auto executives have said. REMOTE-CONTROLLEDDeere's main rival, Irving, Texas-based Caterpillar Inc. (CAT.N), is also making a big push to recruit tech talent. "Companies really need to jump into action," said Michael Solomon, co-founder at 10x Management, a compensation negotiation agency for senior tech talent. The amenities aim to attract tech workers.

☆ Global investors losing appetite for Chinese government bonds
▼ + stars: | 2023-02-10 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

Signs of a peak in developed market rates are another reason why China's bonds, yielding roughly 3% on 10-year investments, are less appealing, given the potential greater capital gains elsewhere. "If investors are saying that I want to trade the China recovery, the answer is not Chinese government bonds (CGBs). "China bonds served as a very good type of diversifier, in particular over the past 3 years," said Pang. But as global rates hit a peak, it made sense to plough limited cash into better yielding markets, he said. ($1 = 6.7969 Chinese yuan renminbi)Reporting by Summer Zhen Additional reporting by Rae Wee in Singapore Editing by Vidya Ranganathan and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ CNH Industrial CEO on the global economy
▼ + stars: | 2023-02-02 | 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 EmailCNH Industrial CEO on the global economyScott Wine, CEO of CNH Industrial, joins 'The Exchange' to discuss the strength of the agricultural business worldwide, new frontiers in agriculture technology development, and new industrial equipment products coming to market in 2023.

REUTERS/Phil NobleCOVENTRY, England, Feb 1 (Reuters) - Developing fully autonomous vehicles (AVs) that can go everywhere has proven harder and more expensive than expected, but investors are continuing to fund startups that target simpler self-driving vehicle solutions far removed from pedestrians and other vehicles operated by unpredictable humans. Earlier promises made by robotaxi companies of operating fleets of vehicles by the early 2020s have fallen well short. BMW iVentures has also invested in AV truck technology firm Kodiak Robotics, which managing partner Sage said has adopted a simpler approach to areas like mapping. Construction and agricultural equipment - used off-road in low-traffic environments - has been another growth area for AV startups. U.S. agricultural equipment maker AGCO Corp (AGCO.N), for instance, is using the Palo Alto, California-based startup's software for an experimental automated electric planter.

☆ Morgan Stanley's favorite buys and shorts for earnings season
▼ + stars: | 2023-01-24 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Stocks are set for big swings this earnings season , and that spells opportunity for investors to buy and short some names, according to Morgan Stanley. More important for investors this earnings season will be the 2023 guidance, the firm said. Given this, traders should expect a rise in price dispersion over the next couple weeks as corporate earnings season unwinds. Seventy companies in the S & P 500 have released results so far this earnings season, according to FactSet data. Here are three positive names, and two negative, that Morgan Stanley highlighted: Bath & Body Works will react positively to earnings, according to Morgan Stanley.

☆ CNH Industrial union workers end strike at two U.S. plants with deal
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +1 min

Jan 22 (Reuters) - Members of two local unions at CNH Industrial NV (CNHI.MI) factories in Wisconsin and Iowa reached an agreement over a new labor contract on Saturday, ending a strike that has been ongoing since last May, the United Auto Workers union said. The contract, which was voted on as an improved "last, best, and final offer" by CNH Industrial workers, included wage increases, shift premium increases, classification upgrades and as other improvements, the UAW said in a statement. The UAW, which represents more than 1,000 hourly workers at the two plants, did not disclose details of the vote. More than 1,000 union members in Racine, Wisconsin, and Burlington, Iowa, walked off their equipment-making jobs in May after a six-year contract expired at the facilities. The agreement came after the local unions had this month rejected a tentative contract.

☆ Investors could find better stock market returns outside the U.S. in 2023
▼ + stars: | 2023-01-11 | by ( Patti Domm | In | ) www.cnbc.com time to read: +9 min

With the dollar weakening, it's time for U.S. investors to get more serious about going abroad for stock market gains. Europe, China, Japan, Asia are actually going to move from losers to winners," he said. The iShares China Large-Cap ETF (FXI), iShares MSCI China ETF (MCHI) and KraneShares CSI China Internet ETF (KWEB) are invested in shares of Chinese companies. Chinese stocks make up 33% of the MSCI Emerging Markets Index. The iShares MSCI Emerging Markets ETF (EEM) represents that index.

☆ CNH Industrial union workers at two U.S. plants reject proposed contract
▼ + stars: | 2023-01-08 | by ( Bianca Flowers | ) www.reuters.com time to read: +3 min

Still, union members said the proposed contract failed to provide enough of a raise to combat inflation, additional vacation days or better healthcare coverage. The UAW represents about 1,000 workers at the plants, and union officials had warned a rejection of the latest offer was likely. With a tightening labor market, union workers in the industrial sector for companies such as Boeing (BA.N) and Deere & Co (DE.N) have gone on strike in recent years. For CNH workers, who last struck the company in 2004, some have taken second jobs to augment strike pay they receive from the UAW. Reporting by Bianca Flowers in Racine, Wisconsin; Editing by Leslie Adler, Ben Klayman, William Mallard and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Deere & Co. will allow farmers to repair their own equipment
▼ + stars: | 2023-01-08 | by ( P.J. Huffstutter | ) www.reuters.com time to read: +3 min

CHICAGO, Jan 8 (Reuters) - The American Farm Bureau Federation and machinery manufacturer Deere & Co (DE.N) signed a memorandum of understanding on Sunday that ensures farmers have the right to repair their own farm equipment or go to an independent technician. The Farm Bureau's memorandum of understanding with Deere "will ensure farmers everywhere are able to repair our own equipment," Farm Bureau president Zippy Duvall said, speaking at the federation's convention in Puerto Rico. It benefits farmers and independent repair facilities in the United States and Puerto Rico, for the "lawful operation and upkeep of Agricultural Equipment," the MOU states. For Deere and rival equipment manufacturers such as CNH Industrial and AGCO Corp, repairing machinery has given them a solid boost for their parts and services business. Duvall said Farm Bureau officials will meet regularly with Deere to discuss "solutions to the challenges farmers are facing in repairing their equipment", and said he hoped other farm equipment makers would take similar steps.

☆ Worldwide Exchange exclusive with the CEO of CNH Industrial and his outlook on the global economy
▼ + stars: | 2022-12-16 | 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 EmailWorldwide Exchange exclusive with the CEO of CNH Industrial and his outlook on the global economyScott Wine, CEO of CNH Industrial, discusses the state of the U.S. and global economy amid recession fears and decades-high inflation.

☆ Talks over new job contracts at Italian auto groups to continue in January - union
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: 1 min

MILAN, Dec 12 (Reuters) - Ongoing talks over new job contracts in Italy for Stellantis (STLA.MI), Ferrari (RACE.MI), CNH Industrial (CNHI.MI) and Iveco (IVG.MI) will be extended into January, a union representative said on Monday. Gianluca Ficco of UILM union told Reuters talks, which where initially scheduled to end this week, would "predictably" continue next month, when unions and the four companies deal with key issues, including proposed salary increases. Stellantis was not immediately available for comment. Reporting by Giulio Piovaccari, editing by Cristina CarlevaroOur Standards: The Thomson Reuters Trust Principles.

☆ CNH Industrial's CEO sees lack of growth in China's construction market
▼ + stars: | 2022-12-08 | by ( Bianca Flowers | ) www.reuters.com time to read: +2 min

Dec 8 (Reuters) - Farming and construction manufacturer CNH Industrial's (CNHI.MI) decision to permanently halt construction sales in China was due to declining market share and competition from local companies, the company's CEO said on Thursday. Mounting debt from Chinese property developers has been the catalyst for falling housing prices in the region and an overall real estate downturn that translated to a slump in construction sales for CNH Industrial and its rival Caterpillar (CAT.N). The company said on Dec. 1 it would stop selling its construction equipment in China effective Dec. 31. CNH Industrial, like other agriculture equipment makers, is expanding offerings of electric-powered tractors and precision agriculture products that the company displayed at its first technology day in Phoenix, Arizona. Agriculture sales accounted for 80% of third-quarter revenue and the machinery maker is forecasting $900 million in net sales of precision technology for fiscal year 2022.

☆ Western firms’ Chinese red lines are not their own
▼ + stars: | 2022-12-02 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

Yet companies’ red lines on China are out of their hands. Undeterred by growing geopolitical tensions and slowing Chinese growth, several Western companies have this year intensified the rate at which they bet on the People’s Republic. If Western states decide to impose sanctions, boards would have their red lines decided for them. Western companies will keep betting on the Middle Kingdom, until their governments stop them. The report predicts China will become the largest global market for luxury goods by 2025.

☆ Dollar slips from one-week high on China hopes as Powell speech looms
▼ + stars: | 2022-11-30 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The risk-sensitive New Zealand and Aussie dollars rose, while the offshore Chinese yuan hovered near a one-week peak. "But there's a back and forth between dollar selling and dollar strength, because earlier in the week, all we could talk about was hawkish Fedspeak," he added. The euro ticked up 0.11% to $1.0339, lifting from a one-week low reached earlier on Wednesday at $1.0319. The New Zealand dollar strengthened 0.29% to $0.6218 while the Aussie adding 0.1% to $0.66935. "Expectations for an end to China's zero‑covid policy in coming months, combined with more targeted restrictions in the meantime, can provide support to CNH, AUD and NZD."

☆ Atlantia exit highlights Milan's battle to retain market heavyweights
▼ + stars: | 2022-11-25 | by ( Elisa Anzolin | Hadeel Al Sayegh | ) www.reuters.com time to read: +4 min

snapshotFEW NEWCOMERSOn the plus side, four companies joined the main Euronext Milan market this year, including truckmaker Iveco (IVG.MI), which was the result of a spin off. The situation is healthier for Euronext Growth Milan itself, a market dedicated to small and medium-sized enterprises with minimum access requirements. Over the past 20 years, the main market has lost 268 listed companies and gained only 185, according to Intermonte research published in March. In contrast, the less regulated SME market has attracted 263 listed companies and seen 68 delistings. CULTURAL ISSUEThe fact that there are relatively few listed companies has its roots in the country's history, said Andrea Beltratti, professor of Political Economy at Milan's Bocconi University.

The interest rate on her operating note doubled this year and will be higher in 2023. Now, his interest rate is 7.35%, and he expects it could reach 8% by year’s end – a 142% increase in eight months. "It's easier to get financing when interest rates are cheap because [banks] are willing to take more risk," said a CNH Industrial dealer representative, who declined to be named. In separate statements, Deere and AGCO said interest rates they offer depend on loan terms, borrower creditworthiness and equipment type. CNH Industrial said interest rates for larger equipment are lower than rates for smaller machinery.

☆ Mario Gabelli likes this under-the-radar industrial into 2023
▼ + stars: | 2022-11-22 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Gabelli Asset Management's Mario Gabelli said he's interested in CNH Industrial N.V. , a maker of agricultural and heavy construction that is under under new management. When choosing between CNH and competitor Deere & Co .'s John Deere, he said the valuation and market cap was better for the former. The company said net sales in industrial activities for 2022 would be 16% to 18% higher than the prior year. Likes energy stocks still Gabelli also said energy stocks would benefit from what he called a crisis as America has leaned on its oil reserves during the Russia-Ukraine war. He pointed to Halliburton and Dril-Quip as examples of stocks that he likes during this tumultuous period.

Companies Petroleos Mexicanos FollowMEXICO CITY, Nov 17 (Reuters) - Under pressure to increase production, Mexico's state oil company Pemex has risked fines for violations that cause environmental damage rather than delay output to fix the underlying issues, according to two senior company sources. Mexican law stipulates that the oil regulator can only levy fines for breaches of development plans rather than for environmental damage. The world's most indebted oil company, whose profits were for years plundered to fund government spending, has struggled to reverse a decade of declining oil production. Reuters GraphicsIn Mexico, fines are decided by various factors including if it is a first or repeated offense, and damage caused. Fines are low to avoid depleting Pemex funds that could be used to resolve the underlying problems, the sources at the regulator said.

"There's a growing perceived chance that the Fed will be the last major central bank to throw in the towel and arrest its tightening cycle," said Francesco Pesole, FX strategist at ING. U.S. payrolls data released later on Friday will provide the latest indication of the health of the U.S. economy. In contrast, Friday data showed euro zone business activity contracted last month at the fastest pace since late 2020. CHINA HOPESFriday's 'risk on' move in currencies, as well as commodity and share markets, followed reports China could relax its anti-COVID restrictions, which have been hobbling economic activity. "CNH (the yuan traded offshore) will tell you if investors are running hot or cold in China markets.

☆ Yuan jumps, dollar pauses, sterling claws back some ground
▼ + stars: | 2022-11-04 | by ( Rae Wee | ) www.reuters.com time to read: +5 min

The offshore yuan jumped more than 1% in the Asia session to a one-week peak of 7.2441 per dollar, and last traded 7.2621. But traders said the most potent boost to the yuan came from speculation that China could relax anti-COVID restrictions,which have been hobbling economic activity. And as is typically the case, this type of 'risk on' move indicated by the yuan will have a magnetic attraction across Asia markets." The Australian dollar rose 0.86% to $0.6342, further buoyed by the positive sentiment on China, as the Aussie is often used as a liquid proxy for the yuan. DOLLAR DOMINANCEFed rate futures now point to a terminal rate of about 5.15% by mid-2023, after the Federal Reserve raised interest rates by three-quarters of a percentage point this week.

☆ The Fed, earnings, jobs and China: How we think about this week's deluge of data
▼ + stars: | 2022-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

It is very premature, in my view, to think about or be talking about pausing our rate hikes. The news sent those stocks reliant on China for growth — Starbucks, Estee Lauder and Wynn Resorts, among many others — higher. Or bad news could just be bad news if weak data signals a recession ahead. And good news could be good news: for example, if China reopens and U.S. companies exposed to the region see a boost in demand. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Italian auto groups view 8.4% pay hike request as too high, union says
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

MILAN, Oct 26 (Reuters) - Four auto groups believe pay increase requests proposed by Italian unions, including a 8.4% annual rise for next year, is too high, the UILM union said on Wednesday as talks got underway. The FIM-CISL, UILM, Fismic, UGLM and AQCF unions also requested wage increases of 4.5% for 2024 and 2.5% for 2025 to help workers recover purchasing power lost due to a Europe-wide spike in consumer price inflation. He added Stellantis considered the new contract it is discussing with unions a "valuable tool" to achieve its competitiveness ambitions in Italy. Unions and the companies have scheduled seven more meetings to be held between mid-November and mid-December. Reporting by Giulio Piovaccari Editing by Cristina Carlevaro, Mark Potter and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "CNH"

25 mentions found