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☆ Toyota cuts output target amid chip crunch as profit tumbles 25%
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

Operating profit for the three months ended September fell to 562.7 billion yen ($3.79 billion), well short of an average estimate of 772.2 billion yen in a poll of 12 analysts by Refinitiv. A year earlier, Toyota sales reported a 749.9 billion yen profit. Toyota said it now expects to produce 9.2 million vehicles this fiscal year, down from the previously forecast 9.7 million but still ahead of last financial year's production of 8.6 million units. Amid the gloom, shares in Toyota fell more than 2%, versus a 0.1% rise in the Nikkei (.N225) average. Toyota estimated in August that materials costs for the full year will be 1.7 trillion yen, a 17% increase from previous estimate.

☆ Some Twitter workers are calling Elon Musk's advisers 'Elon's goons,' a report says
▼ + stars: | 2022-11-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Elon Musk has been outlining plans to overhaul Twitter, assisted by his inner circle. Some Twitter workers have been calling his advisers "Elon's goons," the New York Times reported. Musk's plans include overhauling Twitter's verification process and potentially rebooting Vine. Current and former Twitter workers have been sending each other private messages in the midst of mounting uncertainty at the company, with some staff calling Musk's advisors "Elon's goons," The New York Times reported. Many Twitter staff are concerned about their job security and are scrambling to complete tasks assigned by Musk's team so they can keep hold of their jobs.

☆ Toyota profit to rise but eyes will be on its shaky supply chain, EV strategy
▼ + stars: | 2022-10-31 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +3 min

TOKYO, Oct 31 (Reuters) - Toyota Motor Corp (7203.T) is expected to report a small quarterly profit increase on Tuesday, with soaring costs of parts and materials nearly offsetting the benefits from the plunging Japanese yen and a rebound in production. Toyota warned earlier this month that it is unlikely to meet its 9.7 million vehicle production goal for this financial year due to a scarcity of chips. It will be the first profit increase in three quarters and mark a big improvement from a sharper-than-expected 42% plunge in June quarter profit, partly helped by the yen which has further extended its loss. Toyota estimated in August material cost for the full year to be 1.7 trillion yen, a 17% increase. Just a year into its $38 billion EV plan, Toyota is already considering rebooting it to better compete in a market growing beyond its projections, Reuters reported this month.

☆ How newsletter startup Workweek plans to become the next Condé Nast — and sell chicken sandwiches
▼ + stars: | 2022-10-11 | by ( Dan Whateley | ) www.businessinsider.com time to read: +7 min

Workweek is a media company built around a roster of 21 newsletter writers. This summer, the operations team at the business-focused media startup Workweek began brainstorming the best way to open a chicken restaurant. Regardless of whether Workweek begins selling chicken or not, the project is already a success in its CEO Adam Ryan's eyes. "One of the things that we wanted to answer was, could we make 10 times more revenue per subscriber than the average media company?" Heading into 2023, Workweek plans to expand its talent roster and grow into new content verticals.

☆ The climate crisis has world leaders rethinking nuclear power
▼ + stars: | 2022-08-18 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Climate change and Russia's invasion of Ukraine has world leaders looking again at nuclear power. Gavin Newsom's plan to keep a nuclear power plant open points to a trend. Nuclear power doesn't emit greenhouse gases and provides 10% of global electricity. Gavin Newsom wants to extend the life of a nuclear plant that was slated to close by 2025. The race to combat the climate crisis and shore up energy supplies after Russia's invasion of Ukraine is pushing policymakers to reconsider nuclear power.

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