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General Motors is investing $625 million in the electric vehicle supply chain. The funds will help Lithium Americas Corp develop and operate a major lithium mine in Nevada. Despite EV production cuts, GM aims to strengthen the domestic lithium supply chain. AdvertisementDetroit-based automaker General Motors is pumping money into the domestic supply chain for electric vehicle batteries. Related stories"Today's joint venture announcement is a win-win for GM and Lithium Americas," Evans continued.
Persons: , Jonathan Evans, " Evans, Jeff Morrison, GM's Organizations: Motors, Americas Corp, Service, General Motors, EV, GM, US Department of Energy, DOE, Lithium, Rio Tinto, Street Journal Locations: Nevada, Detroit, Humboldt County , Nevada, Thacker, North America, Lithium Americas, Rio
AdvertisementThe US's efforts to produce more semiconductor chips have encountered some challenges over the past few years, but the tide may be turning. In 2022, President Joe Biden signed the CHIPS Act into law, which included $39 billion in manufacturing incentives for chip production in the US. Last year, TSMC announced that the official opening of its first Arizona fab would be pushed back from 2024 to 2025. TSMC's production of Apple chips is good news for Americans hoping to land jobs in the industry, Patel said. He said he thinks TSMC's production of Apple chips would bode well for the future.
Persons: TSMC, Biden, It's, , Tim Culpan, Culpan, Tim Cook, Dylan Patel, SemiAnalysis, Mark Muro, Apple, Harris, Joe Biden, Arizona hasn't, it's, Morris Chang, Patel, Muro, bode Organizations: Apple, Service, Brookings Institution, Biden, Management, Workers, Brookings Institute, Semiconductor Industry Association Locations: Arizona, Taiwan, Phoenix
She took the rare step of answering questions in the town-hall style radio program — and got some tough ones about her commitment to the Black church and Black voters’ economic problems. On Wednesday, Harris will venture into the lion’s den on Fox News hoping to reach another important group of voters. Trump trails Harris among female voters in most polls and badly needs to narrow that gender gap with 20 days to go. Vice President Kamala Harris participates in an interview with radio host Charlamagne Tha God, in Detroit on October 15, 2024. But Harris hit back on Charlamagne Tha God’s “The Breakfast Club,” saying that Black voters need to think carefully about the future.
Persons: Donald Trump, Kamala Harris, , , Charlamagne, Jacquelyn Martin, Harris, Barack Obama, Trump, ” Harris, Megan Varner, Gabriel Sterling —, , Jim Crow, John Micklethwait, Scott Olson, “ You’ve, ” Trump, Vladimir Putin, Bob Woodward’s, Kevin Lamarque, Reuters Harris Organizations: CNN, Republican, Economic, of Chicago, Black, White, Fox News, Trump, Metropolitan Library, Peach State, GOP, Bloomberg, Economic Club, Getty, Bloomberg News, Reuters Locations: Washington, Detroit, Atlanta, Georgia, Peach, Chicago, British
A Russian man has been rescued in the stormy Sea of Okhotsk after surviving for more than two months in a tiny inflatable boat that lost its engine, but his brother and nephew were dead, officials said on Tuesday. The prosecutor’s office in the far east of Russia said the man was rescued by a fishing vessel off the Kamchatka Peninsula on Monday. Their bodies were reportedly found in the boat when the Angel fishing vessel rescued Pichugin. Media reports said the three men had travelled to the Shantar Islands, off the north-western shore of the Sea of Okhotsk. The man was saved by Russian rescuers after drifting for 67 days in the Sea of Okhotsk.
Persons: Mikhail Pichugin, , Prosecutors Organizations: Transport Prosecutor's, Reuters, Komsomolskaya Pravda Locations: Okhotsk, Russia, Sakhalin, 110lbs, East Asia
Striking Boeing workers and their supporters picket outside the Boeing Co. manufacturing facility in Renton, Washington, on Sept. 16, 2024. Earlier, Boeing separately said in a filing that it has an agreement with a consortium of banks for a $10 billion credit agreement. "The credit facility provides additional short term access to liquidity as we navigate through a challenging environment," the company said in a statement. Boeing shares are down nearly 43% this year through Monday's close. Boeing is trying to shore up its balance sheet as it faces warnings from credit ratings agencies that it could lose its investment grade rating.
Persons: Boeing's, Kelly Ortberg, Ortberg Organizations: Boeing, Boeing Co Locations: Renton , Washington, Monday's
The four leaders had planned to meet the prior week with Ukrainian President Volodymyr Zelensky at Ramstein Air Base, a meeting that was scrapped when Biden postponed his foreign travel as Hurricane Milton barreled toward the southeastern US. Biden pledged to reschedule the trip to Germany, but the outlook for the meeting of the so-called European Quad, had been unclear. Zelensky went ahead with his planned travel to Germany on Friday for a bilateral visit with Scholz, in which the German leader pledged an additional $1.5 billion in new aid. Zelensky met with Vice President Kamala Harris during a visit to Washington in September and met in person with former President Donald Trump, too. This is a breaking story and will be updated.
Persons: Joe Biden, Olaf Scholz, Emmanuel Macron, Keir Starmer, Volodymyr Zelensky, Biden, Milton, Zelensky, Scholz, Kamala Harris, Donald Trump Organizations: Washington CNN, Ramstein Air Base, Russia, Kiel Institute Locations: Berlin, Ukraine, Germany, France, German, Washington
European stocks are heading for a mixed start to the week Monday, with regional markets lacking direction after a choppy week last week. The region's major indexes closed higher on Friday as investors assessed U.K. growth figures and looked ahead to a fiscal stimulus announcement by China over the weekend. China's Minister of Finance Lan Fo'an in a press briefing on Saturday hinted at more debt issuance amid efforts to shore up the economy, stating the government had a "rather large" space to increase deficit. Asia-Pacific markets were mixed on Monday and China stocks volatile as investors assessed the weekend press briefing. Meanwhile, U.S. stock futures were little changed in overnight trading Sunday as investors waited to assess whether the next batch of key corporate earnings could power the market to more records; Bank of America, Goldman Sachs and Johnson & Johnson report their latest results on Tuesday before the market opens, while Morgan Stanley and United Airlines are set to release results Wednesday.
Persons: Finance Lan Fo'an, Goldman Sachs, Johnson, Morgan Stanley Organizations: China's, Finance, Bank of America, Johnson, United Airlines Locations: China, Asia, Pacific
China property stocks jumped Monday after Beijing layed out more support measures over the weekend to shore up the troubled sector. While the Hang Seng Index was last down 0.4% in volatile trading Monday, the Hang Seng Mainland Properties Index rose over 2%. Shares of other real estate developers also saw significant gains, including China Overseas Land & Investment and Yuexiu Property gaining nearly 7% and 6%, respectively. Real estate was also the leading gainer in Mainland China's CSI 300, advancing nearly 5%, while the broader index was up 2%. The rally came after China's Ministry of Finance outlined new policy measures focused on stabilizing the beleaguered real estate sector.
Persons: Tommy Xie, Leonard Law Organizations: China Jinmao Holdings Group Ltd, Beijing, Mainland, China Resources, China Overseas Land & Investment, Yuexiu, China's CSI, China's Ministry, Finance, OCBC Bank, Lucror Analytics, CNBC Locations: Jinmao, Shanghai, China, China's, Asia
"China's growth recovery and north Asia's earnings rebound in 2024 remain our key investment themes and overweight areas," Goldman Sachs' strategists, led by Timothy Moe, wrote in a Saturday note. Asia-Pacific markets opened higher Monday, as investors assessed China's weekend press briefing and awaited a slew of economic data this week from the region. Both metrics missed expectations of economists polled by Reuters, who estimated CPI to rise 0.6% and PPI to decline 2.5%. China is set to release its trade data for September on Monday, with exports expected to rise 6%, a slower growth than 8.7% in August, while imports are estimated to grow 0.9%, compared to 0.5% in August. China watchers also look ahead to the week with a busy set of economic data, including China's third-quarter GDP, September industrial output growth, retail sales and unemployment rate.
Persons: Goldman Sachs, Timothy Moe, Finance Lan Fo'an Organizations: China's, Finance, Reuters, PPI Locations: Asia, Pacific, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCredit Agricole: Still need more fiscal subsidies to boost Chinese consumptionXiaojia Zhi, Chief China Economist at Credit Agricole, says the government still needs to introduce more fiscal stimulus to shore up consumer sentiment despite signs of stabilization in China's consumer spending.
Persons: Zhi Organizations: Credit, Chief China, Credit Agricole
Berkshire Hathaway's Bank of America stake has finally been cut to below the key 10% threshold, keeping Warren Buffett's next potential moves under wraps for a few months. The first 700 million shares had a low cost basis of only about $7 per share, while the average cost of the next 300 million shares was in the $30s, Goldberg estimated. "When we sell something, very often it's going to be our entire stake," Buffett said in 2020 when he entirely dumped his holdings in airlines. Still, Buffett sounded negative towards banking following 2023's regional bank crisis that took down Silicon Valley Bank, Signature Bank and First Republic Bank. It's gotten changed by [the regional bank crisis].
Persons: Warren Buffett's, Brian Moynihan, Jason Goldberg, Buffett, Goldberg, It's, That's, digitalization, fintech, Goldman Sachs, Wells Organizations: Berkshire Hathaway's Bank of America, Bank of America, Barclays, Federal, Bank, Signature Bank, First Republic Bank, JPMorgan, U.S . Bancorp Locations: Berkshire, Charlotte, Wells Fargo, U.S
Individuals looking to help storm victims can also be tricked into donating to fake charities, FEMA says. CNN’s Impact Your World team has ways viewers and readers can help Hurricane Milton victims through vetted charities here. Noting that many areas in the county have “incurred severe property damage because of back-to-back impacts from Hurricane Helene and Hurricane Milton,” Pinellas County’s Office of Consumer Protection urged residents in a public advisory Thursday to be cautious when hiring someone to make storm-related repairs. John Falchetto/AFP/Getty ImagesSeniors are more susceptibleIn the aftermath of Hurricane Milton, Florida authorities are also fighting to stop insurance scams targeting storm victims, often the elderly, says Patronis, the state’s chief financial officer. Florida is home to over 6.3 million seniors – anyone 60 and older, according to the Florida Department of Elder Affairs.
Persons: Hurricane Milton, Ron DeSantis, , Jimmy Patronis, Melanie McGovern, McGovern, they’re, I’m, ’ ” McGovern, Helene, Milton, , it’s, ” McGovern, heartstrings, GoFundMe, they’ve, DCNOnline.org, John Falchetto, Fraudsters, ” Patronis Organizations: CNN, Gov, Better, FEMA, Consumer Protection, National Center for Disaster, ” Pinellas County’s Office, , Lakes Country, Getty, Florida Department of Elder Affairs, Lakes Country Club Village, State Locations: Hurricane, Florida, Pinellas County, Siesta Key, ” Pinellas, Pinellas, Fort Pierce , Florida, AFP, Hurricane Milton, United States, Fort Pierce
Asked about the note, Trump campaign press secretary Karoline Leavitt did not deny that Lighthizer has been meeting with investors. But she cautioned, "No policy should be deemed official unless it comes from President Trump directly." Lighthizer is advising Trump's presidential campaign on economic issues, according to Inside U.S. Trade. Lighthizer is also a director of Trump Media, the publicly traded social media company that is majority owned by the former president. Lighthizer's reported conversations, and his apparent influence with Trump, both underscore how central tariffs are to carrying out Trump's overall economic vision.
Persons: Robert Lighthizer, Donald Trump, Donald Trump's, Wall, Piper Sandler, We've, Trump, Karoline Leavitt, Lighthizer, Trump's, AFPI, Lighthizer's, Kamala Harris, Anna Kelly, Harris, Joe Biden, Kelly Organizations: Republican, Trade, CNBC, U.S, Trump Cabinet, Center for American Trade, Trump, America, Policy, Trump Media, Democratic, Republican National Locations: York , Pennsylvania, Washington
DUBAI, United Arab Emirates — Bracing itself for a retaliatory strike for last week’s ballistic missile attack, Iran has been urging its Arab neighbors not to allow Israel to use their airspace as part of any potential attack, two diplomats from Gulf nations told NBC News Friday. Israel has vowed to respond to the strikes and while the nature and timing of the attack remain unclear, Iran warned countries that do help Israel in any way could potentially become part of a war, one of the diplomats said. His death came days after several Hezbollah leaders were killed by exploding pagers and walkie-talkies, an attack which Israel was widely believed to have been behind. Both militant groups are backed by Tehran and Pezeshkian has portrayed Iran as “exercising restraint” because it waited for two months after Haniyeh's death before launching the attack on Israel. NBC News has reached out to the Israel Defense Forces for comment but has not received a response.
Persons: Israel, Masoud Pezeshkian, Abbas Araghchi, Araghchi, Prince Mohammed bin Salman, Pezeshkian, Vladimir Putin, Sameh Khadr Hassan Al, Ismail Haniyeh, Hassan Nasrallah, Haniyeh, Nasrallah, Joe Biden, Benjamin Netanyahu, Yoav Gallant, Biden, Rasoul, Ayatollah Ali Khamenei, ” Biden, Abu al, Askari, Matthew Savill, wouldn’t, , Israel “ Organizations: NBC, Gulf Cooperation Council, United, United Arab Emirates, U.S, European Union, West Bank, Israel, AFP, Getty, Israeli, Iran’s, Hezbollah, Military Sciences, Royal United Services Institute, NBC News, Israel Defense Forces Locations: DUBAI, United Arab Emirates, Iran, Israel, Jordan, United Arab, Washington, Qatar, Saudi Arabia, Ashgabat, Russian, United States, Tehran, Syria's, Damascus, Brig, Gen, Fars, Iraq, U.S, London, Gaza, Lebanon, Beirut, Deir el
China is expected to announce extra fiscal policy support on Saturday. The lack of consumer support in China's last stimulus package disappointed investors. According to a Bloomberg survey, most analysts expect authorities to pledge $283 billion of fiscal stimulus at Saturday's highly anticipated press conference. Chinese authorities followed up by announcing Saturday's press conference, which promised to introduce new measures centered on fiscal policy. Some analysts remain less sure about what fiscal stimulus will actually achieve on its own, pointing out that Beijing needs to pursue structural reforms to revive consumer confidence.
Persons: , Lan Fo'an, China's, Mark Williams, Stephen Roach, Arthur Kroeber, Gavekal Organizations: Bloomberg, Service, Finance, Analysts, CSI, Reform Commission, Capital Economics, Asia, Financial Times Locations: China, Beijing, Yale
“I am the hopey changey guy so I understand people feeling frustrated, feeling we can do better,” Obama said. Obama slams Trump over false hurricane conspiracy theoriesThe former president on Thursday accused Trump of violating basic American values. “When did that become OK?”But the Trump campaign is not letting go of claims that were debunked even by many Republican state and local officials. At a Harris campaign office, Obama wondered whether the reticence of some “brothers” to support the Democratic nominee came down to sexism. But Democratic concerns about Harris’ campaign are palpable.
Persons: Barack Obama, Kamala Harris, , Obama, Donald Trump, ” Obama, , , Bill Clinton, Trump, Harris, , Joe Biden, Obama’s, CNN’s Kayla Tausche, Birtherism, Biden, “ You’ve, ” Sen, JD Vance, CNN’s Edward, Isaac Dovere, He’s, he’s, Hillary Clinton, Quinn Glabicki, Howard, Will Trump Organizations: CNN, White, Democratic, Republican, GOP, , Univision, Trump, Pittsburgh Locations: Ohio, Pennsylvania, Pittsburgh, America, Iowa, US, United States, Nevada, Arizona, Michigan , Wisconsin, Georgia
Around 400,000 claims worth $10 billion are being processed for eligible business owners who applied for tax refunds under the Covid-era Employee Retention Credit (ERC) program, the IRS said Thursday. He also highlighted recently announced tax relief for those in affected regions, including filing and payment extensions for individuals and businesses. For taxpayers with fully processed ERC claims whose mail routes have been disrupted, the U.S. The tax program allows businesses to claim up to $26,000 per employee on its payroll. “It’s past time to eliminate this fraud-ridden pandemic-era policy so we can concentrate on getting our fiscal house in order.”The tax program was originally projected to cost the government $55 billion.
Persons: Hurricane Helene, Hurricane Milton, Mike Martinez, ” Martinez, Maia Toll, Andrew Celwyn, Emily Nichols, , Helene, Toll, Helene lobbed, they’re, , Sen, Thom Tillis, Tillis, Organizations: NBC News, ERC, IRS, U.S . Postal Service, Small Business Administration, Asheville, Intuit, SBA Locations: Hurricane, Asheville , North Carolina, Asheville, N.C, North Carolina, Philadelphia
In today’s edition, senior White House reporter Peter Nicholas looks at where Kamala Harris' campaign thinks it can pick up support with the vice president's media blitz this week. Plus, senior political editor Mark Murray breaks down how Harris and Trump voters think "change" means very different things this election. They want to see her more, and we’re engaging with that and want to continue to do that,” a Harris campaign aide said. One of the sources described the Keystone State as a “problem spot” for the Harris campaign. Read more → Follow live updates from the campaign trail →That’s all from the Politics Desk for now.
Persons: Peter Nicholas, Kamala Harris, Mark Murray, Harris, Peter Nicholas Vice, Howard, Stephen Colbert’s “, “ We’ve, , Donald Trump’s, Miller, Colbert, she’s, ” Harris, Floridians, CBS’s, Trump, Read, Peter → 📈, hite, tate, ord, ake, rump., ike “, Rea, usk., shaw Organizations: NBC, White House, Capitol, Trump voters, CBS, Democratic, Weather Channel, CNN, Univision, USA, Suffolk University, aig Locations: Hurricane Milton, Las Vegas, Nevada, Arizona, ord, osh
One of the sources described the Keystone State as a "problem spot" for the Harris campaign. And Chris Wyant, a Midwest native who also worked on those presidential campaigns, is now helping Harris in Michigan. These advisers are heavy hitters, having held some of the highest-level positions in previous presidential campaigns. But the Harris campaign insists the additions are not part of any kind of shakeup. Democratic presidential campaigns have tapped such senior advisers to oversee or troubleshoot in specific states in past elections.
Persons: Kamala Harris, Paulette Aniskoff, Barack Obama, Harris, Donald Trump, Trump, , Eric Hyers, Andy Beshear's, Joe Biden, Michael Halle, Pete Buttigieg, Nick Rathod, Marlon Marshall, Obama, Hillary Clinton, Chris Wyant, I've, Dan Kanninen, Kanninen Organizations: White, Office, Public, Keystone State, Kentucky Gov, NBC, Democratic Locations: Pennsylvania, Michigan, North Carolina , Georgia , Wisconsin, Arizona, Nevada, North Carolina, Georgia, Midwest, Harris
On Wednesday, Harris' running mate Tim Walz appeared on a "World of Warcraft" Twitch stream. On Wednesday evening, Walz was featured on a "World of Warcraft" Twitch stream. To be sure, this isn't the first time the Harris campaign has attempted to reach out to this demographic. Besides Twitch, Harris' campaign has run ads on the gaming site IGN and during major sporting events like NFL games. AdvertisementRepresentatives for the Harris campaign didn't immediately respond to a request for comment from Business Insider sent outside regular business hours.
Persons: Harris, Trump, Tim Walz, , Kamala Harris, Walz, Blizzard, Preheat, livestream, didn't, Alex Cooper's, Stephen Colbert, Howard Stern, Statista, Gen Zers, millennials, Donald Trump, Logan Paul, Theo Von, Adin Ross, Lex Fridman, I'm, Fridman Organizations: Service, Twitch, GOP, Wired, Amazon, IGN, Business Insider, CBS, Fridman Locations: Minnesota, Arizona
Warren Buffett's Berkshire Hathaway has reduced its stake in Bank of America to below 10% amid a selling spree that started in mid-July. The move brings his holdings down to 775 million shares, or a stake of about 9.987%. Since the holding is now under the key 10% threshold, Berkshire is no longer required to report its related transactions in a timely manner. The next 13F filing in mid-November will only reveal Berkshire's equity holdings as of the end of September. Bank of America CEO Brian Moynihan previously said the market is absorbing the stock, aided by the bank's own repurchasing.
Persons: Warren Buffett, Warren Buffett's Berkshire Hathaway, Buffett, Omaha's, Brian Moynihan, Goldman Sachs, Wells, It's, digitalization, fintech Organizations: Berkshire, Bank of America, U.S . Securities, Exchange Commission, SEC, JPMorgan, U.S . Bancorp Locations: Omaha , Nebraska, Bank, Berkshire, Wells Fargo, U.S
The Summary Hurricane Milton intensified at one of the fastest rates in recorded history. At nearly every turn, Hurricane Milton has offered surprises. Milton is the strongest Gulf of Mexico hurricane since Hurricane Rita in 2005. However, Lin said, “that doesn’t make it any less dangerous.”Even with slower winds, Milton is expected to remain a major hurricane until landfall Wednesday night. “That would tie 2024 with 2005 and 2020 for 2nd most Gulf hurricane landfalls on record, trailing only 1886,” meteorologist Philip Klotzbach wrote on X.
Persons: Hurricane Milton, Milton, Campeche —, Chris Slocum, ” Slocum, , John Morales, Karthik Balaguru, Jonathan Lin, Milton “, Rita, Slocum, ” Lin, Milton “ wobbled, Lin, Hurricane Irma, Hurricane Helene —, , Helene, Philip Klotzbach Organizations: Hurricane, Hurricanes, National Oceanic, Atmospheric Administration’s, NBC South, Climate Central, Pacific Northwest National Laboratory, Cornell University, National Hurricane Center, Tampa Bay, Atlantic Locations: Gulf, Mexico, Hurricane, Tampa Bay, Africa’s, Caribbean, Gulf of Mexico, Florida, Campeche, NBC South Florida, Milton, Tampa, Florida’s
In today’s edition, politics reporters Matt Dixon and Allan Smith explore why Donald Trump is set to campaign in heavily Democratic states in the final stretch of the 2024 race. Trump plans rallies in solidly Democratic states in the race’s final weeksBy Matt Dixon and Allan SmithGet ready for Donald Trump’s blue state extravaganza. With less than four weeks until Election Day, the Republican presidential nominee is scheduled to hold rallies in staunchly Democratic states he has virtually no chance of winning. President Joe Biden won those states by an average of 20 points in 2020, with his 13-point Colorado win the closest. “Choosing high-impact settings makes it so the media can’t look away and refuse to cover the issues and the solutions President Trump is offering,” a senior Trump campaign adviser said of the strategy.
Persons: Matt Dixon, Allan Smith, Donald Trump, Chuck Todd, Trump, Allan Smith Get, Donald Trump’s, It’s, Joe Biden, George W, Bush, , , Kamala Harris, Matthew Bartlett, Read, There’s, Chuck → 🗞️, ove, Rea, Deb Organizations: NBC, White House, Capitol, Democratic, Republican, Trump, GOP, New York —, White, sce, ics Locations: Colorado , California , Illinois, New York, Colorado, Madison Square, New York City, California, Arizona , Georgia, Michigan, Nevada , North Carolina , Pennsylvania, Wisconsin, Washington, Poli
Storm surge is the abnormal rise in water levels during a storm, as heavy hurricane winds push a bulge of water toward shore as depths become shallower. On Tuesday, Milton "wobbled," according to an early evening forecast from the National Hurricane Center. “Milton has the potential to be one of the most destructive hurricanes on record for west-central Florida,” the National Hurricane Center said Tuesday in an advisory. Northeast Florida could get 3 to 5 feet of storm surge, the hurricane center projects. In 2008, Hurricane Ike pummeled the Texas Gulf Coast as a Category 2 storm and generated a 15-foot storm surge in Galveston Island.
Persons: ” Fritz, ” Chris Slocum, Hurricane Milton, Milton, wobbled, Karen Clark, “ Milton, ” Slocum, , ” Cathie Perkins, Ike pummeled Organizations: National Oceanic, Atmospheric Administration’s, Research, Hurricane, National Hurricane Center, U.S, , Pinellas County Emergency Management, NOAA, Texas Gulf Locations: Mexico, Tampa, , Florida, Pinellas County, Clearwater, St, Petersburg, Northeast Florida, Louisiana, Texas, Texas Gulf Coast, Galveston Island
Our love for cruising saved our marriage after our kids went to college. I love traveling and was excited to do more of it, just the two of us. She even splurged for everyone to get an upgraded balcony cabin, which made all the difference. Felicia SlatteryOnce our kids went away to school, we leaned into our love of cruising together. We've shared memorable moments that have reignited the spark in our marriage, from watching balcony sunsets to embarking on unforgettable shore excursions.
Persons: , He's, we'd, Felicia Slattery, We'd, he'd, We've Organizations: Cruises, Service, Disney
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