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☆ Volkswagen Q3 earnings stagnate below pre-pandemic levels
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 28 (Reuters) - Volkswagen (VOWG_p.DE) reported third-quarter earnings of 4.3 billion euros ($4.29 billion), behind pre-pandemic levels, following 1.6 billion in one-off effects from the suspension of Russian activities and its Porsche AG (P911_p.DE) listing. The results beat last year's third quarter when chip shortages reduced sales across the auto industry, but they lagged behind pre-pandemic profits as the carmaker grapples with supply chain bottlenecks and high costs. Volkswagen maintained its outlook for the year of hitting the upper end of a 7%-8.5% earnings margin, compared with its third-quarter margin of 6%, given a strong recovery in the Chinese market and an easing of semiconductor supply. High-value brands buoyed earnings with a 19.4% margin for sports and luxury brands and 14.1% for premium brands. ($1 = 1.0022 euros)Reporting by Victoria Waldersee, editing by Rachel More and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Ford Can’t Afford Other Bets Like Driverless Cars
▼ + stars: | 2022-10-27 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Ford, which unveiled its new Mustang lineup last month, swung to a loss in the third quarter. Ford decision to reverse out of the driverless-taxi business shows a laudable focus on delivering tangible products—but also the company’s financial weakness relative to crosstown rival General Motors . Alongside third-quarter results published late Wednesday, Ford said it was shutting down Argo, the automated-driving business it controls jointly with Volkswagen . The U.S. auto maker will take a write-down of $2.7 billion and recruit several hundred Argo employees to its own driver-assistance and software teams, where it sees nearer-term prospects for developing services that might actually make money.

☆ Stocks making the biggest moves premarket: Meta, Ford, Honeywell, Caterpillar & more
▼ + stars: | 2022-10-27 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Meta — The social media stock dropped 22.8% after Meta reported an earnings miss and a weaker-than-expected fourth-quarter forecast. Meta reported earnings of $1.64 per share on revenue of $27.71 billion. Caterpillar — Shares popped 5.1% after Caterpillar reported earnings that beat on the top and bottom lines. Caterpillar was expected to earn $3.16 per share on revenue of $14.33 billion, according to consensus estimates from Refinitiv. The defense company reported revenue of $8.97 billion, compared to forecasts of 9.13 billion, according to consensus estimates compiled by Refinitiv.

☆ Ford CEO puts the brakes on the company's plan for fully autonomous cars, saying there's a long way to go before it can develop them at scale
▼ + stars: | 2022-10-27 | by ( Stephen Jones | ) www.businessinsider.com time to read: +3 min

Ford is shifting its priorities away from developing fully autonomous cars. CEO Jim Farley said development of the vehicles at scale was "a long way off." The shift means that Ford is closing down Argo AI, a robo-taxi startup it jointly backed with VW. "Profitable, fully autonomous vehicles at scale are a long way off," CEO Jim Farley said, in a statement published alongside the automaker's third-quarter earnings, Wednesday. A vehicle with Level 4 ADAS capability is considered to be fully autonomous and can navigate most road situations without the need for human assistance.

☆ Volkswagen to work with Mobileye on automated driving after Argo exit - sources
▼ + stars: | 2022-10-27 | by ( Jan Schwartz | ) www.reuters.com time to read: +2 min

REUTERS/Shannon StapletonBERLIN, Oct 27 (Reuters) - Volkswagen (VOWG_p.DE) plans to expand its cooperation with Intel's Mobileye (MBLY.O) to include its automated driving program after Wednesday's decision to no longer invest in self-driving startup Argo AI, two sources familiar with the plan told Reuters on Thursday. Mobileye, which develops autonomous driving technologies, already cooperates with VW's software unit Cariad. Volkswagen's and Ford Motor's F.N exit from Argo came after three years of joint efforts on the development of automated driving systems and investments of more than $3 billion, highlighting the cost pressure automakers face in that field. Israel-based Mobileye went public this week, being valued at more than $20 billion. Chief Communications Officer Dan Galves said earlier this week that based on its design wins with automakers, the company's assisted driving systems would be deployed in 270 million cars by 2030.

☆ Analysis: Ford, VW pop the automated-vehicle bubble with Argo AI exit
▼ + stars: | 2022-10-26 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

DETROIT, Oct 26 (Reuters) - The road map to fully self-driving vehicles is being rewritten once again, this time by Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE). VW also bought Argo shares from Ford for $500 million. Ford previously injected $1 billion into Argo when it bought control of the company in 2017. Before it acquired the stake in Argo, VW flirted with at least two other U.S.-based self-driving startups: Alphabet Inc's (GOOGL.O) Waymo and Aurora Innovation (AUR.O). VW reportedly considered a $13.7 billion investment in 2018 in Waymo for a 10% stake that would have valued Waymo at $137 billion.

DETROIT, Oct 26 (Reuters) - Ford Motor Co (F.N) on Wednesday reported a third-quarter net loss driven by its decision to shift spending from the Argo AI self-driving business. Ford posted a net loss in the quarter of $827 million, after taking a $2.7 billion noncash pretax impairment on its investment in Argo AI. The automaker said Argo will be "wound down" and that "talented engineers" will be offered positions with Ford. Chief Executive Jim Farley on Wednesday said Ford will shift its development focus away from fully self-driving systems developed by Argo to advanced driver assistance systems (ADAS) created internally at Ford. GM on Tuesday reported a net profit of $3.3 billion on record third-quarter revenue of $41.9 billion.

☆ Ford Posts Loss as It Takes $2.7 Billion Charge on Argo Driverless Venture
▼ + stars: | 2022-10-26 | by ( Nora Eckert | ) www.wsj.com time to read: 1 min

Ford Motor swung to a third-quarter loss because of a hefty charge associated with the shutdown of the auto maker’s autonomous-driving venture Argo AI, the latest setback in the pursuit of self-driving cars. The Dearborn, Mich., company, which invested in Pittsburgh-based Argo in 2017, said Wednesday that it is shifting its focus away from the development of fully autonomous driving technology and to partially automated features that Ford and other auto makers already offer. Ford will absorb several hundred of Argo’s roughly 2,000 employees, the auto maker said.

☆ Ford to Take $2.7 Billion Charge on Argo Driverless Startup Stake
▼ + stars: | 2022-10-26 | by ( Nora Eckert | ) www.wsj.com time to read: 1 min

A driverless car operated by Argo AI on the road in Austin, Texas, last May. Ford Motor said it is taking a $2.7 billion charge on its investment in driverless-car firm Argo AI as that startup shuts down its operations. The Dearborn, Mich., company, which invested in Pittsburgh-based Argo in 2017, said Wednesday that it is shifting its focus away from the development of fully autonomous driving technology and to partially automated features that Ford and other auto makers already offer. Ford will absorb some Argo employees, the auto maker said.

☆ Volkswagen no longer investing in self-driving startup Argo AI
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 26 (Reuters) - Volkswagen AG (VOWG_p.DE) is no longer investing in Argo AI, the company said on Wednesday, concentrating its automated driving efforts on its existing partnerships with Bosch and Horizon Robotics in China. Volkswagen disclosed a $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup, in June 2020. The investment meant the startup was jointly controlled by the German carmaker and Ford Motor Co (F.N), which made an initial investment in Argo AI shortly after it was founded. "Volkswagen is working with Argo AI to enable further working opportunities for employees and continue developing the promising projects on autonomous driving. All further cooperations with Ford remain unchanged," Volkswagen's statement said.

Instead of having Argo develop self-driving car technology for cars without steering wheels, brakes or accelerator pedals — what is known in the industry as Level 4 or L4 technology — Ford will instead pursue in-house development of a lower level of automated driving technology. Ford reported automotive revenue of $37.2 billion, a jump of $4 billion from a year ago and $1 billion more than the analysts’ forecasts. It also was hit with $1 billion in higher-than-expected supplier payments, and a $1.5 billion increase in commodity costs. But in the end, the big news of the earnings report was a major change in direction on self-driving vehicles. He said there is only so much talent available to develop the different driver assistance and self-driving features.

☆ Ford's earnings beat, significant free cash flow mean we're sticking with the auto stock
▼ + stars: | 2022-10-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Cash flow from operating activities was $3.8 billion, while adjusted free cash flow came in at $3.6 billion, beating analysts' estimates of $1.4 billion. Meanwhile, what stood out to us the most in the quarter was the significant free cash flow the business is generating. Adjusted EBIT came in at $204 million, well ahead of the $31 million loss predicted by Wall Street. Adjusted EBIT came in at $229 million, also a beat on analysts' estimates of $125 million. This target has not been attained despite the more than $100 billion Ford invested in the technology.

☆ Ford, Volkswagen-backed Argo AI to shut down- TechCrunch
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

[1/2] An Argo Ai self driving prototype vehicle is seen outside a Ford and Volkswagen joint news conference in New York City, New York, U.S., July 12, 2019. REUTERS/Mike SegarOct 26 (Reuters) - Self-driving startup Argo AI will shut down operations and its employees and parts will be absorbed by its main backers, Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE), TechCrunch reported on Wednesday, citing people familiar with the matter. Ford did not immediately respond to a Reuters request for comment, while Argo AI and Volkswagen declined to comment. Argo AI in July said it had laid off about 150 employees as it made adjustments to its business plans. Started in 2016, Pittsburgh-based Argo AI was developing the technology behind driverless vehicles.

DETROIT, Oct 26 (Reuters) - Ford Motor Co (F.N) on Wednesday reported a third-quarter net loss driven by its decision to shift spending from the Argo AI self-driving business. Ford posted a net loss of $827 million, after taking a $2.7 billion noncash pretax impairment on its investment in Argo AI. The automaker said Argo will be "wound down" and that "talented engineers" will be offered positions with Ford. The other key investor in Pittsburgh-based Argo, Volkswagen AG (VOWG_p.DE), said it, too, expects to hire some personnel from Argo. Adjusted free cash flow in the quarter was $3.6 billion, with the outlook for the full year raised to $9.5 billion to $10 billion.

☆ Stocks making the biggest moves after hours: Meta Platforms, ServiceNow, Align Technology and more
▼ + stars: | 2022-10-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines after the bell:Meta Platforms — The Facebook parent plunged more than 13% after missing earnings estimates for the third quarter. Meta beat revenue estimates, posting a better-than-expected decline year-over-year but shared disappointing guidance for the fourth quarter. ServiceNow — The software stock soared 12.4% postmarket as earnings per share came in 12 cents ahead of Wall Street expectations. Align Technology — The maker of Invisalign dental straighteners toppled 16.8% after missing earnings estimates for the recent quarter. O'Reilly Automotive — Shares gained more than 3% after hours following a beat on revenue and earnings for the third quarter.

☆ Ford, VW pull plug on robotaxis in blow to self-driving car industry
▼ + stars: | 2022-10-26 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +3 min

Ford said Wednesday that it had concluded that the large-scale profitable commercialization of self-driving cars was further out then expected. Some Argo AI employees will join Ford for that work, Farley said. The company was developing robotaxis, self-driving vehicles that can operate in a ridehail service that does not require human drivers. The team effort allowed Ford and VW to share the hefty costs of developing self-driving cars. Companies have found that developing self-driving cars is incredibly expensive.

☆ U.S. autonomous vehicle group picks ex-Senate aide as director
▼ + stars: | 2022-10-25 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The Autonomous Vehicle Industry Association (AVIA) has tapped Jeff Farrah as its first executive director, the group told Reuters. U.S. lawmakers have been divided for years over how to amend current auto safety regulations to encompass self-driving cars, including the scope of consumer and legal protections. In August, U.S. House members launched a bipartisan effort to help revive stalled legislative efforts to boost self-driving vehicles. In July, the National Highway Traffic Safety Administration said GM's Cruise and Ford sought exemptions to deploy up to 2,500 self-driving vehicles annually without human controls. The Transportation Trades Department for the AFL-CIO, told U.S. lawmakers in 2021 that autonomous vehicles place "millions of jobs at risk" and any self-driving legislation should not apply to commercial trucks.

☆ Exclusive emails show Austin officials bragging about its lack of oversight of a new self-driving delivery service from Ford and Argo AI
▼ + stars: | 2022-10-24 | by ( Caroline Haskins | ) www.businessinsider.com time to read: +5 min

Several cities launched an autonomous vehicle delivery service for Walmart orders with Ford vehicles using Argo AI's self-driving car technology. In 2016, Arizona Governor Doug Ducey announced Uber's self-driving car pilot by proclaiming that Arizona "welcomes Uber self-driving cars" while states with regulatory laws do not. Part of the companies' motivation for the self-driving car delivery service is the drive to meet Walmart's consumer demands for "next-day or same-day delivery." Argo AI was founded in 2016 by two former engineers from Google and Uber's self-driving car programs, respectively. Argo AI hired more than 1,700 people in 6 years but laid off many of its recruiters in July.

☆ Mississippi community with Confederate monument gets Emmett Till statue
▼ + stars: | 2022-10-21 | by ( Associated Press | ) www.nbcnews.com time to read: +6 min

A Mississippi community with an elaborate Confederate monument plans to unveil a larger-than-life statue of Emmett Till on Friday, decades after white men kidnapped and killed the Black teenager for allegedly whistling at a white woman in a country store. In 2007, a Mississippi prosecutor presented evidence to a grand jury of Black and white Leflore County residents after investigators spent three years re-examining the killing. This year, a group searching the Leflore County Courthouse basement found an unserved 1955 arrest warrant for “Mrs. Roy Bryant.” In August, another Mississippi grand jury found insufficient evidence to indict Donham, causing consternation for Till relatives and activists. The Till statue in Greenwood will be watched by security cameras.

☆ CIA reveals model used to plan strike against Al-Qaeda leader Zawahiri
▼ + stars: | 2022-09-25 | by ( Dan De Luce | Dan De Luce Is A Reporter For The Nbc News Investigative Unit. | ) www.nbcnews.com time to read: +4 min

The CIA on Saturday unveiled the model of Ayman al-Zawahiri’s safe house in Kabul used to plan the U.S. drone strike that killed the Al-Qaeda leader last month. The scale model of Zawahiri’s house was shown to reporters as part of a tour of a newly refurbished museum at the agency's headquarters. “This was the model that was used to brief President Biden on the Zawahiri mission,” said Janelle Neises, deputy director of the CIA museum. Zawahiri was struck by a Hellfire missile as he stood on the balcony of the house, U.S. officials say. “He carved a trail of murder and violence against American citizens, American service members, American diplomats and American interests,” Biden said.

This is the first time Cruise has acknowledged the long-term need for remote human operators. Truly autonomous vehicles are far behind the optimistic rollout schedules predicted just a few years ago. In a June interview on YouTube, Musk said developing self-driving cars was "way harder than I originally thought, by far." Over time, those people will act as "air traffic controllers," supervising a growing number of autonomous cars. "Even decades from now you will not get to 100% truly autonomous vehicles," Kaveh added.

☆ Driverless taxis approved in California for the first time – but the rollout will be gradual
▼ + stars: | 2022-06-03 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +2 min

Autonomous car company Cruise is rolling out driverless taxis in San Francisco. Autonomous car company Cruise is on track to operate driverless taxis in San Francisco after winning California's first driverless deployment permit on Thursday. There has long been a buzz around driverless cars. More than $100 billion has been invested in autonomous vehicle technology since 2010, according to McKinsey. This could be the year that the potential of driverless cars is realised as Cruise joins an exclusive list of companies operating commercially.

☆ Atac sinucigaş cu bombă la o catedrală catolică din Indonezia: 14 persoane, rănite
▼ + stars: | 2021-03-28 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

14 persoane sunt rănite în atacul care a fost cel mai probabil un atentat sinucigaş comis de două persoane, a declarat poliţia, citată de DPA și agerpres.ro. "Se crede că trupul găsit la faţa locului este al atacatorului sinucigaş", a declarat şeful poliţiei provinciale Merdisyam. Argo a anunţat că 14 persoane au fost rănite în atac, inclusiv trei gărzi de securitate de la biserică. Explozia de la ora 10.28 dimineaţă (3.28 GMT) a avut probabil o "intensitate puternică", a spus şeful poliţiei. "A fost un act odios ce încalcă principiile oricărei religii", a declarat vicepreşedintele consiliului Anwar Abbas într-un comunicat.

Persons: Iisus, Argo, Merdisyam, Anwar Abbas Locations: indonezian Makassar

☆ (video) 20 cele mai bune filme care au luat Oscarul din 2000 încoace. În acest an, premiile vor fi acordate în aprilie
▼ + stars: | 2021-01-22 | by ( Onixmedia Srl | ) diez.md time to read: +8 min

(video) 20 cele mai bune filme care au luat Oscarul din 2000 încoace. Marele general roman Maximus a condus din nou legiunile spre victorie pe câmpul de luptă. Invidios pe Maximus, moștenitorul tronului, Commodus, ordonă execuția sa și a familie sale. Înfruntând niște încercări, care i-ar fi pus la pământ pe alții, Nash revine la viață și în activitate datorită ajutorului soției sale, Alicia. În laboratorul guvernamental ascuns de securitate în care lucrează, singuratica Elisa este prinsă într-o viață izolată.

Persons: Ma, Ridley Scott, Maximus, Marcus Aurelius, Commodus, John Forbes Nash . Chipeșul, Nash, Alicia, Roxie Hart, Roxie, Velma Kelly . Roxie, Sauron, Aragorn, Maggie Fitzgerald, Frankie Dunn, Billy Costigan, Queenan, Costigan, Frank Costello, Joel, Ethan Coen, Cormac Mccarthy, Jamal Malik, Jamal, George al VI - lea, Lionel Longue, George Valentin, Riggan Thomson, Michael Keaton, Elisa Organizations: Pulitzer, Broadway, Boston Globe Locations: Chicago, Gondor, Minas Tirith, L.A ., Los Angeles, american, indian Mumbai, Irak, localnic, America, coreean

☆ George Clooney a fost spitalizat după ce a slăbit aproximativ 13 kilograme pentru rolul din „The Midnight Sky”
▼ + stars: | 2020-12-10 | by ( ) www.jurnal.md time to read: +3 min

Cu patru zile înainte de a începe lucrul la film, scrie Mirror, Clooney a fost dus la spital acuzând dureri de stomac. A fost diagnosticat cu pancreatită, boală ce poate fi fatală, şi a petrecut câteva zile sub supravegherea medicilor, scrie News.ro. Cineastul, care a mai regizat alte şase filme, a spus că acesta a fost cel mai mare proiect al lui şi că era nevoie să fie în cea mai bună formă pentru a-l duce la capăt. În această perioadă, a spus el, a redescoperit treburile în gospodărie şi aptitudinile de meşter pe care le avea înainte de a deveni faimos, la începutul anilor 1990. Înainte de o nouă schimbare a prefixului, în luna mai, Clooney a spus: „Este un număr mereu surprinzător de spus, dar cred că, dacă duci o viaţă bună, nu îl priveşti aşa.

Persons: Augustine, George Clooney, Felicity, Clooney, Cineastul Organizations: Hollywood Hills Locations: Sully, Finlanda, Hollywood, Los Angeles

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