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☆ Mercedes-Benz begins building battery recycling factory in southern Germany
▼ + stars: | 2023-03-03 | by ( Industry Insight | Reuters Professional | Green Is The New Black As Fashion Sector Fast-Forwards On Sustainability Trend | ) www.reuters.com time to read: +1 min

Companies Mercedes Benz Group AG FollowFRANKFURT, March 3 (Reuters) - Mercedes-Benz (MBGn.DE) laid the foundation stone for a sustainable battery recycling factory in Kuppenheim, southern Germany on Friday. The pilot plant will have an annual capacity of 2500 tonnes and will contribute to the production of more than 50,000 battery modules for new electric Mercedes-Benz vehicles. Subject to talks with the public sector, the pilot factory will be completed a few months later. The Kuppenheim plant already runs a CO2-neutral operation with solar and green electricity. "We are sending an important signal of innovative strength in Baden-Württemberg and Germany for sustainable electromobility," said Jörg Burzer, management board member of Mercedes-Benz in production and supply chain management.

☆ Cisco works with Mercedes-Benz to create mobile office
▼ + stars: | 2023-02-27 | by ( Supantha Mukherjee | ) www.reuters.com time to read: +1 min

[1/2] Cisco's Webex system is displayed on Mercedes-Benz E-Class dashboard, in this undated illustration picture obtained by Reuters. Cisco/Handout via REUTERS/IllustrationBARCELONA, Feb 27 (Reuters) - Cisco (CSCO.O) is working with Mercedes Benz (MBGn.DE) to add its Webex conferencing tools to the dashboard of vehicles arriving in dealerships in the coming weeks, the company said on Monday, as it seeks to turn the car into a mobile office. Zoom has tied up with Tesla (TSLA.O) to equip its vehicles with conferencing tools and Cisco plans to announce other partnerships at the MWC telecoms conference in Barcelona this week. They include one with Samsung (005930.KS) for Webex integration in its flagship phones and another with Intel (INTC.O) for private 5G. Reporting by Supantha Mukherjee in Barcelona; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ The Magic of Your First Car
▼ + stars: | 2023-02-09 | by ( Adali Schell | Remy Tumin | ) www.nytimes.com time to read: +1 min

The ability to get behind the wheel of a car for the first time and go anywhere is a distinct American rite of passage. For many young people, their first car grants them a freedom to explore their city on an intimate level, with their windows down and music blasting – and away from the prying eyes of parents. The photographer Adali Schell, 21, grew up in Los Angeles and spent last summer documenting the members of his creative community in their cars. Finding a place to belong “feels so scarce” in L.A., Adali said. But in the confines of an old Mercedes Benz (now powered by vegetable oil), a former taxi cab, a beat-up Volvo and a “mom” car, this group of artists and students found “a stronger sense of self and sense of security.”

☆ This fund manager says there's a 'value gap' in European markets. Here's how he's playing it.
▼ + stars: | 2023-02-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

There's a "value gap" in European markets, and that's creating a unique opportunity for investors to buy up top-notch financial and industrial names at a bargain, according to David Herro, chief investment officer of international equities at Harris Associates. European markets dropped sharply last year as war concerns mounted in Ukraine, energy prices surged, and the Chinese economy struggled. But even as share prices dropped, earnings continued improving, opening up what Herro calls a value gap. When it comes to international markets, Herro's got the credentials to support this type of declaration. "Just about every one of the major European financials is over capitalized, and distributing that money back to shareholders positions," Herro told CNBC.

☆ Huawei turns to patents for a lifeline — including those in the U.S.
▼ + stars: | 2023-02-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

In 2022, Huawei announced it signed more than 20 new or extended licensing agreements for its patents. But the sheer number of patents filed meant Huawei ranked fourth last year by the number of patent grants in the U.S., IFI said. For Huawei, licensing its patents to other companies has the potential to claw back a bit of that revenue. Huawei did not break down specific figures, and only said it met its intellectual property revenue expectations for 2021. "I don't think they had a choice in terms of sort of boosting their licensing revenue."

☆ Trump questions whether not paying taxes is 'even a crime' as he laments his former CFO Weisselberg's jailing
▼ + stars: | 2023-01-21 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Donald Trump questioned whether his former CFO not paying taxes was "even a crime." Allen Weisselberg, 75, has been sentenced to five months for his role in a Trump Organization tax dodge scheme. Weisselberg, 75, was earlier this month sentenced to five months for his role in masterminding a Trump Organization tax dodge scheme. Weisselberg was sentenced days before the Trump Organization was hit with a $1.6 million fine during the company's sentencing for its December conviction on payroll-tax fraud. The former CFO remained loyal to his former employer throughout the trial, continuing to insist that Trump himself did nothing wrong.

☆ Trump Organization hit with $1.6 million fine for criminal tax fraud scheme
▼ + stars: | 2023-01-13 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

One of those executives was former Trump Organization Chief Financial Officer Allen Weisselberg, who pleaded guilty to tax fraud charges last summer and agreed to cooperate with prosecutors against his longtime employer. The Trump Corp. and The Trump Payroll Corp., two subsidiaries of the Trump Organization, were both sentenced to the maximum possible fines under New York laws. The Trump Organization has denied all wrongdoing and is planning to appeal the verdict. The Trump Organization, former President Donald Trump 's business empire, was hit with a $1.6 million fine Friday for tax fraud and other crimes committed as part of a yearslong scheme to help some of its top executives avoid paying taxes on compensation. Prosecutors and Trump Organization lawyers gather at the Manhattan Criminal Courthouse for the sentencing hearing in New York City, U.S. January 13, 2023.

☆ Police investigate New York hit-and-run that left Jewish man injured as possible hate crime
▼ + stars: | 2023-01-12 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +1 min

A Hasidic Jewish man in New York City was left with a broken leg after a car crashed into him in a hit-and-run, as police say the incident is being investigated as a possible hate crime. The vehicle, a 2017 Mercedes Benz, was traveling southbound on Albany Avenue and was making a left turn when it collided with the victim. Surveillance video footage shows the vehicle turn and slam into the man without stopping, throwing the victim onto the ground, and continue driving on. Police said the NYPD’s Hate Crime Task Force has been notified. Got to be safe,” Usher Berkovich, who lives nearby, said to NBC New York.

☆ Mercedes expects double-digit growth in India in 2023 despite weak rupee
▼ + stars: | 2023-01-08 | by ( Aditi Shah | ) www.reuters.com time to read: +2 min

NEW DELHI, Jan 8 (Reuters) - Mercedes Benz (MBGn.DE) expects double-digit sales growth in India this year, despite concerns that a weaker rupee could increase car prices, the head of its local unit said in an interview. So that's some headwind we see when it comes to the growth potential," Iyer said. "But we are starting the year with a very healthy order bank and that gives us the confidence of a double-digit growth even for 2023," said Iyer. Mercedes plans to launch 10 new cars in India in 2023, most costing more than 10 million rupees ($120,000), the top-end segment that grew 69% in 2022. The company launched three EVs in India in 2022 including a locally assembled, electric model of its flagship S-Class sedan.

☆ Carmakers will reverse out of public markets
▼ + stars: | 2022-12-28 | by ( Neil Unmack | ) www.reuters.com time to read: +3 min

Shares of carmakers like Stellantis (STLA.MI) and BMW (BMWG.DE) are suffering, as investors fret over a potential recession and falling car sales. It’s an opportunity for deep-pocketed funds or backers to steer them out of public markets altogether. There are risks: Carmakers are loath to borrow too much, for fear of damaging their financial services divisions. Assume a private equity buyer teamed up with the Quandt clan and acquired minority investors’ shares at a 25% premium, using debt, for 37 billion euros. If public markets dislike European carmakers, there may be a private market solution.

☆ Man fatally slashed two strangers in random encounters around New York City, officials say
▼ + stars: | 2022-12-27 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

After a 20-second-long, caught-on-camera dispute, Codrington, 35, slashed Cunningham across the neck with a knife, leaving him to die, Essig said. At 11:30 p.m. on Dec. 22, Codrington entered a Lower East Side bar with a pit bull and a baseball bat, Essig said. Afterward, Essig said, Codrington went home, then said he’d “cool off” with a walk through the park. In May, a 48-year-old man was shot and killed riding a train between Brooklyn and lower Manhattan. Despite random acts, the number of crimes reported on public transit by September was averaging slightly below pre-pandemic levels, though ridership was also down.

☆ Faraday Future slides on signaling need for funds to start production
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

Dec 16 (Reuters) - Shares of Faraday Future Intelligent Electric (FFIE.O) tumbled 21% premarket on Friday after the company unveiled production plans for its much-delayed luxury electric car that hinged on securing additional financing. The company is in talks with new and existing investors to raise the $150 million to $170 million in capital needed to start production in March and deliveries a month later of the FF 91 Futurist, Faraday disclosed on Thursday. The company, which said it required investors to approve an increase in the number of shares to secure the financing, is also grappling with top-level changes. Last month, the board appointed Faraday Future's China Chief Executive Xuefeng Chen as its global CEO after Carsten Breitfeld was asked to resign. Reporting by Akash Sriram in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

That compares with a valuation of about $9 billion in its maiden external fundraising last year. In doing so, it joins a growing list of Chinese automakers looking to launch or expand sales of EVs in the region. The automotive group led by founder Li Shufu now houses seven brands manufacturing electric vehicles, of which three are high-end brands. According to two of the sources, Zeekr also considered Hong Kong as its listing venue but picked New York in the hope of achieving a higher valuation. Zeekr was established by Geely, formally known as Zhejiang Geely Holding Group (GEELY.UL), in April 2021 to tap into increasing Chinese demand for premium EVs.

☆ Marsai Martin and Omari Harwick play to win in ‘Fantasy Football’
▼ + stars: | 2022-11-23 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —The new film “Fantasy Football” capitalizes on some of its stars natural talent. Marsai Martin channels lots of girl-boss energy playing Callie Coleman, a tech-savvy young woman whose father’s long career in the NFL lands him with the Atlanta Falcons team. (Martin, 18, set a Guinness World Record in 2020 as the youngest Hollywood executive producer to work on a major production.) Marsai Martin as Callie Coleman and Omari Hardwick as Bobby Coleman in "Fantasy Football." “We respect each other and we brought out the best in each other.”“Fantasy Football” debuts Friday on Paramount+.

☆ Vietnamese EV maker VinFast to supply 2,500 units to U.S. car subscription service Autonomy
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

"VinFast will begin delivering vehicles to Autonomy over the next 12 months," the companies said in a joint statement, noting Autonomy had initially ordered just 400 units in August. Autonomy allows users to subscribe to the use of one of their EVs, rather than having to buy or lease a car. VinFast has registered almost 65,000 reservations globally, and it expects to sell 750,000 EVs per year by 2026. In March, VinFast said it would build a production plant in North Carolina with an initial projected capacity of 150,000 EVs a year. According to the statement, VinFast is planning to showcase two new EV models, VF 6 and VF 7 at the upcoming Los Angeles auto show this week.

☆ Google Maps got a big update that shows where fast-charging EV stations are and more
▼ + stars: | 2022-11-17 | by ( Sofia Pitt | ) www.cnbc.com time to read: +1 min

If you drive an EV, you'll be able to filter charging stations to find the most time-efficient option. The update is available in countries where EV charging stations are available, according to Google. Google Maps is also getting an update to its augmented reality tool. When you hold up your phone, for example, and tap the camera icon in Maps, you'll see nearby landmarks, parks, hotels, restaurants, bars, banks and ATMs. You'll also see info like how busy the location is, whether or not it's open, what the price range is and how it's rated by Google Maps users.

"The softer inflation data took some wind out of the dollar's sails," said Joe Manimbo, senior market analyst at Convera in Washington. "The dollar is steadier because we're having this residual, geopolitical skittishness as well as signs of a fairly sturdy U.S. economic backbone in the forms of U.S. retail sales." Retail sales rose 1.3% in October, more than the 1.0% increase that economists polled by Reuters had forecast. The dollar briefly pared losses on release of the retail sales data, but later fell against the euro to trade little changed against major currencies. Yields fell further on the market's benign inflation outlook.

☆ Poland missile relief dents dollar; stocks retreat
▼ + stars: | 2022-11-16 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/IllustrationLONDON, Nov 16 (Reuters) - Global stocks eased from two-month highs on Wednesday while the safe-haven dollar fell, after Poland's president said a missile that hit his country was probably a stray Ukrainian defence projectile, dispelling fears that it originated from Russia. Data on Wednesday showed U.S. retail sales rose by 1.3% in October, compared with expectations for a 1.0% rise, showing consumers were undeterred by high inflation last month. This gave a bump to the dollar, which cut some of the day's losses and weighed heavily on European shares. The dollar, which acts a safe haven in times of geopolitical or market turmoil, rallied overnight, before falling throughout the European session. Gold rose 0.2% on the day to $1,776 an ounce, supported by a slightly weaker dollar, while Brent crude futures fell 0.6% to $93.33 a barrel, having retreated from an overnight high of $94.79.

☆ European shares pulled down by Mercedes, defence stocks up after Poland blast
▼ + stars: | 2022-11-16 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

SummarySummary Companies Mercedes slides on report of China EV price slashesEuropean autos sector eyes worst day in nearly 7 weeksBiden says missile that hit Poland may not have come from RussiaNov 16 (Reuters) - European shares fell on Wednesday, with Mercedes Benz Group leading losses in automobiles stocks, while a blast in Poland kept sentiment subdued and pushed up defence stocks. The pan-European STOXX 600 (.STOXX) index fell 0.4% by 0924 GMT. Auto stocks (.SXAP) tumbled 2.8% to lead sectoral declines, and were headed for their biggest one-day percentage fall in almost seven weeks. The European aerospace and defence (.SXPARO) sector climbed 0.9% following news of the blast. Multiple data points signalled a euro zone recession amid the European Central Bank's aggressive monetary tightening cycle to control record-high inflation.

Ramon Abbas, known to his millions of Instagram followers as Ray Hushpuppi, pleaded guilty in April last year to conspiracy to engage in money laundering. On social media, where Abbas had posted videos of himself tossing wads of cash like confetti, he referred to himself as a real estate developer. His social media account was a treasure trove of information for investigatorsFederal investigators have described Abbas as a prolific money launderer who leveraged his social media platform to gain notoriety and brag about his wealth. In a 2020 affidavit, federal officials detailed how his social media accounts provided details needed to confirm his identity. Even Abbas’ Instagram birthday party photos helped the investigation.

☆ Uber-rival Beat withdraws from Latin America
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Nov 8 (Reuters) - Ride-sharing app Beat is withdrawing from Latin America to focus on its European operations, the company said in a LinkedIn statement on Tuesday. The startup, which first launched in Greece in 2011 and whose owners included automakers BMW and Mercedes Benz (MBGn.DE), began operating in Latin America in 2019. "Due to a clear strategic decision of the shareholders to focus on its core European markets, our shareholders have made the decision to stop investing in the Latin American region, where Beat operates," the statement said. For those reluctant to pay the premium prices charged for those trips, Beat also offered lower-priced conventional car rides. In an email to users, Beat said it would cease to operate in Mexico, Argentina and Peru as of November 9th.

☆ AI chip startup SiMa.ai launches auto business with former Bosch, Mercedes executive
▼ + stars: | 2022-11-03 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +2 min

OAKLAND, Calif., Nov 3 (Reuters) - Silicon Valley-based AI chip startup SiMa.ai on Thursday said it is entering the automotive industry and has recruited Harald Kroeger, a former executive at top tier auto supplier Bosch and Mercedes Benz (MBGn.DE), to lead that business. Kroeger, who is on the board of electric pickup truck firm Rivian (RIVN.O), will join SiMa.ai’s board, which includes top chip industry executives Moshe Gavrielov, a Taiwan Semiconductor Manufacturing Co. (2330.TW) board member, and Lip‑Bu Tan, an Intel (INTC.O) board member. The announcement comes as chip makers' competition in the automotive industry intensifies with Nvidia Corp (NVDA.O), Qualcomm Inc (QCOM.O), and Intel’s recently listed Mobileye (MBLY.O) all vying for car makers. SiMa.ai’s main product called MLSoC, short for machine learning system on chip, processes video and images, an important technology for assisted and self-driving technology. "I was on the knife's edge," said Krishna Rangasayee, CEO of SiMa.ai about the decision to enter the automotive market which he noted can take years to generate revenue from.

☆ Geely's Zeekr plans electric vehicle sales in Europe in 2023
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Zeekr 001 electric vehicle (EV) by Geely is seen displayed at the Zeekr booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song/File PhotoSHANGHAI, Nov 2 (Reuters) - Zhejiang Geely Holding Group's (GEELY.UL) premium electric car business plans to sell the first electric vehicle produced under the Zeekr brand in Europe next year, Zeekr's CEO said. Zeekr joins a growing list of Chinese automakers looking to launch or expand sales of electric vehicles in Europe next year, including BYD (002594.SZ), Xpeng (9868.HK) and Great Wall Motors (601633.SS). An said Geely would market its 001 electric crossover in Europe next year. The base model Zeekr 001 sells for the equivalent of $41,000 in China compared with $40,000 for the Tesla (TSLA.O) Model Y after a recent price cut.

☆ European markets set to edge lower after hitting five-week high
▼ + stars: | 2022-10-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European markets were on course to open Wednesday marginally lower, with corporate earnings season in full swing and a European Central Bank meeting ahead. However, banking stocks closed down 0.3% amid mixed earnings, with UBS beating market expectations but seeing profits slide. Deutsche Bank reported early Wednesday, and also surpassed analyst forecasts. Other European companies to report include Barclays, Standard Chartered , Mercedes Benz , Heineken and Reckitt Benckiser . Asia-Pacific markets were higher on Fed expectations and comments from the China Securities Regulatory Commission on creating a "regulated, transparent open, lively and resilient" market.

The charges to which Weisselberg pleaded guilty included grand larceny and tax fraud, and he admitted concealing $1.76 million in income. The Trump Organization, which operates hotels, golf courses and other real estate around the world, could face up to $1.6 million in fines for the three tax fraud counts and six other counts it faces. In his guilty plea, Weisselberg admitted to scheming with the company so that "substantial portions" of his and other employees' income was unreported or misreported. Weisselberg has worked for the Trump Organization for nearly half a century. After his guilty plea, he was placed on a paid leave of absence, according to a person familiar with the matter.

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