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☆ Meet the Press – November 3, 2024
▼ + stars: | 2024-11-03 | by ( ) www.nbcnews.com time to read: +55 min

KRISTEN WELKER:As the 2024 election nears the finish line, Vice President Kamala Harris and former President Donald Trump make their last appeal to voters. Vice President Harris and former President Trump and their surrogates are making their closing arguments. North Carolina was the state former president Trump won in 2020 by the smallest margin and both candidates held events there on Saturday. I asked, what is his message to women who are thinking about voting for Vice President Harris. Today, Vice President Harris is in Michigan working to shore up the blue wall, her simplest path to winning the White House.

Persons: KRISTEN WELKER, PRES, KAMALA HARRIS, FMR . PRES, DONALD TRUMP, Kamala Harris, Donald Trump, Steve Kornacki, Liz Cheney, Let's, TONY HINCHCLIFFE, Raphael Warnock of, Doug Burgum, Chuck Todd, Cristina Londoño Rooney, Marc Short, Mike Pence, Jen Psaki, Kristen Welker, . PRES, Harris, Trump, Biden, haven't, Will Nikki Haley, hasn’t, Kamala, TIM WALZ, Donald Trump's, SEN, JD VANCE, FMR, MICHELLE OBAMA, She's, Hurricane Helene, NBC's Dasha Burns, DASHA BURNS, Kristen, Ann Selzer, “, we've, Dasha, We're, Alcindor, YAMICHE, STEVE KORNACKI, Harris ., They've, she's, Joe Biden's, Steve, they've, We've, –, Raphael Warnock of Georgia, Warnock, Press . SEN, RAPHAEL WARNOCK, It's, Martin Luther King Jr, Barack Obama, I've, I’ve, we're, They're, Governor Burgum, DOUG BURGUM, Nikki Haley, NIKKI HALEY, they're, Trump's, I'm, he's, Emerson, Iowa that's, I'd, Trump hasn't, It’s, Biden's, There's, Burgum, JEN PSAKI, Chuck, hasn't, CHUCK TODD, who's, – KRISTEN WELKER, she’s, Harris isn't, Jen, that's, Cristina, let's, CRISTINA LONDOÑO ROONEY, They’re, Obama, there's, o’clock, Clinton, JD Vance, RUDOLPH, MAYA RUDOLPH, we'd, Hillary Clinton, Marc, We'll, it's Organizations: FMR, NBC, Puerto Rico, Trump, Democratic, Republican, Washington, Telemundo, Staff, White House Press, Press, Rockefeller, Des Moines Register, NBC News, DONALD TRUMP : Georgia, GOV, TIM, FIRST, United States Capitol, Des Moines, White, Muslim, National, Black, Press ., Ebenezer Baptist Church, New York Times, Central, American, UN, Penn State football, Madison, –, Iowa, Republicans, oversampled, Puerto Ricans, Obama, it's, Democratic Party Locations: America, FMR ., United States, Puerto Rico, Raphael Warnock of Georgia, North Dakota, New York, ., Wisconsin, North Carolina, Pennsylvania, ELON, Hurricane, Greensboro, Iowa, Michigan, Detroit, East Lansing, Dearborn , Michigan, Gaza, Arizona, Des, Washington, Ebenezer, Georgia, Trump's, Puerto Rican, Madison, Korea, Ukraine, Israel, Iran, American, Pennsylvania , Wisconsin, Kansas, Puerto, Puerto Ricans, Trump, , Wisconsin, it's New Hampshire, New Hampshire

☆ The China threat and the EV slowdown— 2 takeaways from a busy few weeks in auto news
▼ + stars: | 2024-11-03 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

A price war in China poses a threat to profitability. Amid the flurry of news, two themes stand out: the China threat and EV slowdown loom large for automakers. AdvertisementAnother EV price war threatens profitabilityIn China, the world's largest auto market, EV leaders BYD and Tesla are engaged in a bitter price war that initially weighed heavily on BYD's bottom line. The Chinese EV market is more competitive than ever, according the GM's Barra, who questioned the sustainability of a broader price war in the region driven by an uptick in Chinese EV startups selling inexpensive vehicles. Inexpensive Chinese EVs have long threatened the US EV market.

Persons: —, It's, Ford, Tesla, China's, Mary Barra, Barra, Mark Ford, he's Organizations: Service, Ford, Volkswagen, VW, EV, Companies, Power, Dealers Locations: China, Germany, Europe, BYD

☆ Japan plans automated cargo transport system to relieve shortage of drivers and cut emissions
▼ + stars: | 2024-11-03 | by ( ) www.cnbc.com time to read: +4 min

Apart from making up for a shrinking labor force and the need to reduce workloads for drivers, the system also will help cut carbon emissions, she said. The plan in Switzerland involves an underground pathway, while the one being planned in London will be a fully automated system running on low-cost linear motors. Japan's shortage of truck drivers is worsening due to laws that took effect earlier this year that limit the amount of overtime drivers can log. The domestic transport capacity stands at about 4.3 billion metric tons, almost all, or more than 91%, by trucks, according to the Japan Trucking Association. As is true in most places, truck drivers have tough jobs requiring them to be on the road for days at a time, work that most jobseekers find unappealing.

Persons: Stanislav Kogiku, it's, Yuri Endo, Endo Organizations: Getty, Japan, Ministry of Land, Transport, Japan Trucking Association, Trucking Association Locations: Shinjuku , Tokyo, Tokyo, Osaka, Infrastructure, Tourism, Japan, Switzerland, Great Britain, London, U.S, United States

☆ 11 surprising things from this earnings season, including my favorite stock so far
▼ + stars: | 2024-11-03 | by ( Jim Cramer | ) www.cnbc.com time to read: +17 min

Horton makes the most sense as a Kamala Harris stock because of a promised $25,000 toward a first home. I don't know if either candidate can pull off huge tariffs (Trump) or a credit (Harris). Here are eleven surprising things about this earnings season that you can store up and pull out when the election is confirmed. The deficit will begin to hurt the stock market hard next year even if the economy continues to cool. Away from the hyperscalers, I like Marvell , where CEO Matt Murphy bought $1 million worth of stock in the open market.

Persons: beckons, Joe Biden, Biden, Donald Trump, D.R, Horton, Kamala Harris, Harris, let's, Let's, Trump, haven't, Myers, Abbvie, Eli Lilly, Anat Askenazi's, Abbott, neonatologists, Reckitt, Jim Hurst, Danaher, Jason Hollar, It's, Amgen, That's, Estee Lauder, Parker, Pat Gelsinger's, He's, Matt Murphy, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: U.S, NBC News, White, Ford Motor, Trump, Costco, Volkswagen, Bankers, Banco Santander, Apple, Amazon, GE Vernova, U.S ., Treasury, Merck, NEC, FDA, CDC, NIH, GE Healthcare, Cardinal Health, NPC, Nvidia, Caterpillar, Linde, Devices, heaven's, Intel, Marvell, Micron, Arista, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: Europe, Germany, China, Portugal, Ireland, Italy, Greece, Spain, It's, Santander, —, Bristol, U.S, Taiwan, Eaton, Dover, Norwegian, Caribbean, San Francisco

☆ Luxury European automakers are getting crushed in China
▼ + stars: | 2024-11-01 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

AdvertisementThe days of European carmakers dominating China's luxury vehicle market are over. A study by AlixPartners found that Chinese automakers released 40 over-the-air software updates between March 2023 and February this year, compared with just two from legacy automakers. AdvertisementHard to quitDespite a challenging environment, Western premium automakers can ill afford to give up on China. As well as increased competition, European automakers face a geopolitical headache. AdvertisementTim Urquhart, principal automotive analyst at S&P Global Mobility, told BI the European Union's tariffs on Chinese automakers meant Beijing could impose levies on European car imports in retaliation.

Persons: —, Aston Martin, James Bond, Chris Brownridge, BYD, Lutz Meschke, Max, Xiaomi, Steve Dyer, Dyer, AlixPartners, Mercedes, GAO, China's, Tim Urquhart, Urquhart Organizations: BMW, Mercedes, Benz, Porsche, Service, upstarts, Volkswagen, Royce, British, Bloomberg, Reuters, Getty, P Global Mobility Locations: China, British, London, Korea, Western Europe, Beijing

☆ China's Zeekr reports EV deliveries in October nearly doubled, clocks its best monthly numbers
▼ + stars: | 2024-11-01 | by ( Sonia Heng | In Sonia-Heng | ) www.cnbc.com time to read: +1 min

ZEEKR EV cars are displayed at the 45th Bangkok International Motor Show in Bangkok, Thailand, March 25, 2024. Chinese electric carmaker Zeekr said Thursday its deliveries surged by 92% in October from a year ago, helping the company clock its best month at 25,049 vehicles. That beat the prior record of 21,333 deliveries in September, bringing Zeekr's total for the year to nearly 168,000. Earlier in the week, Chinese smartphone and home appliance company Xiaomi said it delivered more than 20,000 electric vehicles in October. Xiaomi aims to deliver 100,000 electric cars by the end of November.

Persons: Zeekr, Xpeng, Li Auto, BYD, Aito, Xiaomi Locations: Bangkok, Thailand

☆ Is this the deal to end Boeing’s crippling 7-week strike?
▼ + stars: | 2024-11-01 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +10 min

New York CNN —More than 30,000 Boeing workers will vote again Monday on whether or not to end a crippling seven-week strike. The deal is not significantly different from an offer rejected by nearly two-thirds of membership just over a week ago. And it happened 10 years ago at Boeing, when about two-thirds of members rejected an offer that ended the pension plan. Despite its many problems, Boeing is a major force in America economy, and it is the largest American exporter. Ending the strike is important for Boeing’s new CEO, Kelly Ortberg, who started in the job just five weeks before the strike began.

Persons: it’s, ”, “, John Deere, “ It’s, Brandon Felton, we’ve, Jon Holden, haven’t, ” Holden, you’ve, ’, hasn’t, Lindsey Wasson, Holden, What’s, Max fuselages, David Ryder, they’ve, Kelly Ortberg, Ortberg, “ Ortberg Organizations: New, New York CNN, Boeing, International Association of Machinists, Labor, ” Union, United Auto Workers, CNN, IAM, ”, Anderson Economic Group, Anderson, Reuters, Alaska Airlines Locations: New York, Michigan, Seattle, America

☆ ‘I’m unable to respond:’ What it’s like to live with narcolepsy
▼ + stars: | 2024-11-01 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +9 min

“What’s scary and embarrassing is that I can see people come to help me, but I’m unable to respond.”Horsnell has narcolepsy, a sleep disorder that makes it hard to stay awake for long periods. In fact, it’s estimated that only 25% of people who have narcolepsy are diagnosed and receive treatment, according to the Narcolepsy Network. “But the terrifying thing was, I’m lying in a puddle of my sweat and I’m hearing everybody whisper, ‘Is he OK? Horsnell’s experience with narcolepsy hallucinations, however, is quite different. As a trained speaker for Project Sleep’s Rising Voices of Narcolepsy leadership program, he visited the White House in 2023 to raise awareness about narcolepsy and sleep disorders.

Persons: Matthew Horsnell, ”, Horsnell, “, ” Horsnell, Jennifer Mundt, Mundt, ” Mundt, “ There’s, aren’t, orexin, Heather Lill, it’s Organizations: CNN, Northwestern University’s Feinberg School of Medicine, Narcolepsy, cataplexy, “, Narcolepsy Network, Scientists, US Food and Drug Administration, Society, Behavioral Sleep, Sleep Research Society, American Academy of Cardiovascular Sleep, White House Locations: Chicago, United States

☆ The lack of tariffs on plug-in hybrid EVs in Europe adds momentum for BYD's sales: Analyst
▼ + stars: | 2024-10-31 | 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 EmailThe lack of tariffs on plug-in hybrid EVs in Europe adds momentum for BYD's sales: AnalystTu Le of Sino Auto Insights says he expects "fireworks" between Tesla and BYD's competition in China and discusses the caveat in the European EV tariffs that benefits BYD.

Locations: Europe, China

☆ Former Acting U.S. Trade Representative: Trump’s Tariffs Are a Terrible Idea
▼ + stars: | 2024-10-31 | by ( Miriam Sapiro | ) www.usnews.com time to read: +7 min

As a former acting U.S. trade representative who also served on the National Security Council, I’ve engaged in international economic policymaking firsthand. Trump’s main economic idea is to indiscriminately impose tariffs on U.S. trading partners, but it is American importers, exporters and consumers who will pay the price. When Trump last levied tariffs, the EU, Canada, China and other trading partners imposed their own tariffs in retaliation. While President Joe Biden left most of Trump’s tariffs against China in place, he managed to negotiate agreements that led to the easing of many retaliatory measures. As president, Harris would lead an economy that helps everyone, not just those at the very top.

Persons: you’re, it’s, you’ve, Kamala Harris, Donald Trump, I’ve, Harris, Shawn Fain, “, ” Harris, Harris ’, Trump, Smoot, Hawley, Mitch McConnell, “ I’m, Trump’s, Davidson, Joe Biden, Biden Organizations: National Security Council, United Auto Workers, Democratic Party, Republican, Foundation, European Union, Pennsylvania Farm Bureau, ”, Harley, EU Locations: Pennsylvania, Michigan, Wisconsin, America, China, U.S, EU, Canada

☆ Marc Andreessen says US carmakers need to make a $20,000 EV if they don't want to 'lose the auto industry' to China
▼ + stars: | 2024-10-31 | by ( Jaures Yip | ) www.businessinsider.com time to read: +6 min

Investors Marc Andreessen and Ben Horowitz said Chinese EVs are beating out American and European automakers. Andreessen Horowitz founders Marc Andreessen and Ben Horowitz said on their podcast that Chinese automakers have developed high-quality and affordable vehicles supported by a robust supply chain ecosystem. With the American auto industry struggling with slowing growth in its EV market, American automakers need to be able to offer a compelling $20,000 EV that also competes on quality if the US doesn't want to "lose the auto industry," Andreessen said. Andreessen said that Chinese car brands are outperforming American EV automakers in affordability and quality, calling them "super technologically sophisticated." AdvertisementTo keep up, American automakers need to be able to offer a similarly affordable and full-featured car at the $20,000 price point, Andreessen said.

Persons: Marc Andreessen, Ben Horowitz, Andreessen Horowitz, Xiaomi's, —, It's, Andreessen, they've, Horowitz, Jim Farley, " Horowitz, Elon Musk, Tesla, Musk, Xiaomi Organizations: Service, Centre, Strategic & International Studies, Ford, Porsche, Porsche Cayenne, American EV, Elon, Nissan Locations: China, Mexico, Dubai, American

☆ FICO and VantageScore are the 'Coke and Pepsi' of credit scoring, says credit expert—what to know about each
▼ + stars: | 2024-10-31 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

When you view your credit score, you're likely to see a different three-digit number depending on whether you checked your score online, on your banking app or via another means. Although you have multiple credit scores, they're mainly calculated by two companies: VantageScore and FICO, which are the two main credit scoring systems used by the majority of lenders to evaluate how well you're managing your credit. "Think of those like Coke and Pepsi," John Ulzheimer, a credit expert who formerly worked for FICO and Experian, tells CNBC Make it. And your credit history needs to be at least six months long in order for FICO to generate your score. Although FICO scores are also used by lenders when you apply for credit, a mortgage or an auto loan, FICO weighs the factors it uses to calculate its credit scores differently.

Persons: John Ulzheimer, VantageScore, FICO, Matt Schulz, LendingTree's, Schulz Organizations: Pepsi, FICO, CNBC Locations: U.S

Stellantis worker at work inside of the new Hybrid and PHEV Vehicles Stellantis Group eDCT Assembly Plant on April 10, 2024 in Turin, Italy. Auto giant Stellantis on Thursday reported a 27% decline in third-quarter net revenues, but said it was making headway in addressing operational issues such as U.S. inventories. The Netherlands-based company, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, said that net revenues for the July-September period came in at 33 billion euros ($35.8 billion). Analysts had expected third-quarter net revenues to come in at 36.6 billion euros, according to an LSEG-compiled consensus. Stellantis said it is set to reach its target of slimming down the U.S. stocks by 100,000 units by the end of November.

Persons: Stellantis Organizations: Vehicles, Auto, Dodge, Fiat, Chrysler, Peugeot, Analysts, U.S, Atlantic Locations: Turin, Italy, Netherlands, U.S, Milan, China

☆ Endeavor is using AI to modernize manufacturing. Check out the 9-slide deck it used to raise a $7 million seed round.
▼ + stars: | 2024-10-31 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Endeavor has secured $7 million to modernize manufacturing with AI technology. San Francisco-based Endeavor, launched by 22-year-old Sahitya Senapathy, is developing an AI platform to help modernize manufacturing firms. Endeavor aims to automate many of the manual tasks in the industry, which otherwise consume a lot of time. AdvertisementThe startup uses large language models to automate administrative manufacturing processes, such as purchase orders, invoices, and shipping notices. Check out the 9-slide pitch deck it used to secure the fresh funds.

Persons: —, Senapathy, they're Organizations: Endeavor, BI, Service, San, Business, Craft Ventures, Endeavor's, Heartland Ventures, Web Locations: San Francisco

☆ The US is on the cusp of a lithium boom to loosen China's grip on EVs
▼ + stars: | 2024-10-31 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +7 min

AdvertisementThe US is on the cusp of a lithium boom after years of laying the groundwork for an electric-vehicle supply chain that doesn't rely on China. The three sites, expected to come online between 2026 and 2028, would massively increase the US's lithium supply. A Tiehm's buckwheat plant in Esmeralda County, Nevada, grows beside where the Rhyolite Ridge lithium-boron mine is planned. AdvertisementRowe said Ioneer redesigned the Rhyolite Ridge mine to limit its footprint in the critical habitat of the endangered wildflower, Tiehm's buckwheat. The Biden administration, in issuing the permit for the mine, said it would not jeopardize the flower's survival.

Persons: —, Biden, Bernard Rowe, VCG, Rowe, Karl Friedhoff, Robyn Beck, Thacker, Ioneer, brines Organizations: Service, EV, Atlantic Council, Chicago Council, Global Affairs, House, Biological Diversity, Biden, Western Shoshone Defense, AP, Resources, Survey Locations: Nevada and California, China, Nevada, Thacker, Australia, South America, Chile, Argentina, Shanghai İnternational Port, Asia, Japan, India, Ioneer, California, Texas, Shoshone, Esmeralda County , Nevada, Oregon, Arkansas

☆ The E.U. is imposing duties on electric vehicles from China after trade talks fail
▼ + stars: | 2024-10-30 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +3 min

BRUSSELS, Belgium — The European Union is imposing duties on imports of electric vehicles from China starting Wednesday after talks between Brussels and Beijing failed to find an amicable solution to their trade dispute. According to the commission, which manages trade disputes on behalf of the 27 E.U. member countries, sales of Chinese-built electric cars jumped from 3.9% of the EV market in 2020 to 25% by September 2023, in part by unfairly undercutting E.U. Other EV manufacturers in China, including Western companies such as Volkswagen and BMW, would be subject to duties of 20.7%. The measures were published in the bloc’s legal Official Journal late Tuesday, meaning duties entered into force as of midnight, said E.U.

Persons: we’re, Valdis Dombrovskis, undercutting, ’, Hildegard Müller, VDA, ” Müller, E.U, Arianna Podesta Organizations: Trade Organization, SAIC, Geely, Volvo, Britain’s MG, EV, Volkswagen, BMW, China’s Commerce Locations: BRUSSELS, Belgium, China, Brussels, Beijing, Germany

☆ Stocks making the biggest moves premarket: Eli Lilly, Caterpillar, VinFast, Alphabet and more
▼ + stars: | 2024-10-30 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Eli Lilly — The drug maker tumbled 7.5% after missing analyst expectations for the third quarter and cutting full-year guidance. Eli Lilly earned $1.18 per share, excluding items, on $11.44 billion in revenue. Analysts polled by LSEG had anticipated earnings of $1.47 a share and $12.11 billion in revenue. Caterpillar — Shares fell more than 5% in the premarket after the industrial giant reported weaker-than-expected earnings for the third quarter. The company posted a profit of $5.17 per share, while analysts polled by LSEG had forecast earnings of $5.34 per share.

Persons: Eli Lilly, LSEG, XPO, FactSet, Qorvo, Raymond James, Reddit, —, Jesse Pound, Sarah Min, Sean Conlon, Michelle Fox, Samantha Subin, Fred Imbert Organizations: Caterpillar, Revenue, Bloomberg, Emirates, Google, Visa, AMD

☆ The Chinese EV loved by Ford's CEO just got a lot faster
▼ + stars: | 2024-10-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

Ford CEO Jim Farley is a big fan of Xiaomi's SU7 EV — and it just got a major upgrade. The Chinese tech giant unveiled the SU7 Ultra, a high-performance electric car with a max speed of 350km per hour. AdvertisementFord CEO Jim Farley's favorite Chinese EV just got a major upgrade. Speaking on a podcast last week, Ford CEO Farley praised Xiaomi as an "industry juggernaut" and said he was a big fan of the SU7. AdvertisementWestern automakers like Ford are under pressure from Chinese electric car makers, which are expanding rapidly worldwide.

Persons: Jim Farley, —, Jim Farley's, Xiaomi, Farley, Lei Jun, it's, I've, Tesla, Elon Musk Organizations: —, Service, Ford, Citibank Locations: China, presale, Shanghai, Chicago

☆ Stocks making the biggest moves midday: Reddit, Super Micro Computer, Garmin, Snap and more
▼ + stars: | 2024-10-30 | by ( Sean Conlon | ) www.cnbc.com time to read: +6 min

Reddit reported earnings of 16 cents per share, while analysts surveyed by LSEG had expected a loss of 7 cents. For the period, Garmin posted pro forma earnings of $1.99 per share on $1.59 billion in revenue. Wingstop – Shares fell around 19% after the restaurant chain missed analysts' expectations for the third quarter. Wingstop earned 88 cents per share, while analysts were looking for 95 cents per share, per LSEG. Advanced Micro Devices – Shares tumbled 9.5% after AMD gave guidance for fourth-quarter revenue of $7.5 billion, in line with analysts expectations, per LSEG.

Persons: Reddit, LSEG, EY, FactSet, Eli Lilly, XPO, Shack, Thomas Reeg, Wingstop, Chipotle, StreetAccount, Raymond James, Goldman Sachs, Alex Harring, Samantha Subin, Lisa Kailai Han, Sarah Min, Jesse Pound, Michelle Fox Organizations: Garmin, Caesars Entertainment, Google, Visa, AMD, Bloomberg, Emirates, Wall, Bank of America

I found what I was looking for in the Coway Airmega AP-1512HH Mighty, an air purifier designed for medium-to-large rooms. Coway Airmega AP-1512HH Mighty Air Purifier If you need a powerful, energy-efficient air purifier for medium to large rooms, the Airmega AP-1521HH Mighty is your best option. AdvertisementOur review of the Coway Airmega AP-1521HH MightyThe Coway Airmega AP-1512HH Mighty prefilter captures large particles like pet fur. Air quality sensor: Open the air quality sensor cover every two months (or sooner in dusty environments) and clean it with a soft brush or vacuum cleaner. Heidi Borst/Business InsiderConsider the Coway Airmega AP-1512HH Mighty if you're seeking an effective and user-friendly air purifier for a medium-to-large environment.

Persons: unpackaging, Heidi Borst, it's, Max Organizations: Business, Amazon, Walmart, Energy, Environmental Protection Agency, PM, Honeywell Locations: Eco

☆ Spain hit by flash floods that killed 62 people and roiled an economic hub
▼ + stars: | 2024-10-30 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +2 min

Spain's eastern province of Valencia was hit by intense, historic rainfall. 62 people were killed in flash floods in the region. AdvertisementHistoric flash floods in eastern Spain killed 62 people and roiled the region. The roof of a car submerged in water following floods is pictured in Picuana, near Valencia, eastern Spain, on October 30, 2024. Per a Spanish government briefing, the auto industry is the most significant in Valencia province.

Persons: —, JOSE JORDAN, Pedro Sánchez Organizations: Service, Spain's State Meteorological Agency, Getty, Spain's Locations: Valencia, Spain, of Valencia, Picuana, Spanish, Valencia province, Madrid

☆ EBay stock sinks after company gives lackluster guidance for fourth quarter
▼ + stars: | 2024-10-30 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Shares of eBay slumped about 9% in extended trading on Wednesday after the online marketplace posted its third-quarter earnings and gave guidance for the fourth quarter that fell short of Wall Street's expectations. The guidance trailed the average analyst estimate for fourth-quarter revenue of $2.65 billion, according to StreetAccount. The company also said it expects $1.17 to $1.22 in adjusted earnings per share in the fourth quarter. The company didn't provide clarity on its forecast in the earnings release. GMV, or the dollar value of items sold on eBay's marketplace, grew 2% year over year to $18.3 billion, eBay said, which topped analysts' projected $18.1 billion, per StreetAccount estimates.

Persons: Steve Priest Organizations: eBay, LSEG, LSEG Revenue, EBay, Walmart, Big Tech Locations: China

☆ Bringing manufacturing back to the US is a $10 trillion opportunity for the economy, Morgan Stanley says
▼ + stars: | 2024-10-30 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Morgan Stanley estimated that bringing manufacturing back to the US could add $10 trillion to the economy. The bank pointed to a 20-year stagnation of the industrial economy as production was sent offshore. AdvertisementThe US economy could unlock trillions in value over the next decade if more manufacturing activity comes back to the US, according to Morgan Stanley. The Biden administration, meanwhile, has poured billions into its push to increase chip production in the US and boost the manufacturing and industrial sectors. The cumulative effects could be "pretty profound" across the US economy, Snyder said, with the boost to industry and manufacturing bound to raise GDP.

Persons: Morgan Stanley, —, Chris Snyder, Snyder, Morgan Stanley's, Trump, Biden Organizations: Service, Biden, of Supply Management, Commerce Department, Economic

☆ Volkswagen stumbles in China as Germany's auto giants struggle to compete in the EV race
▼ + stars: | 2024-10-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Experts told BI that all three companies face slumping EV sales and brutal competition in China. BMW and Mercedes-Benz have issued profit warnings in recent weeks amid slumping EV sales in Europe and brutal competition in China, while Volkswagen is also facing a reckoning. German carmakers are losing out to Chinese EV makers such as BYD. She added that Mercedes, BMW, and Volkswagen offer comparatively few hybrid and extended-range vehicles — categories that have proven extremely popular in China. Slow sales in EuropeAt the same time, Germany's automakers are also dealing with a slowdown in EV sales in Europe.

Persons: —, Arno Antlitz, Mercedes, Hendrik Schmidt, Daniel Pier, Getty Images Helena Wisbert, Wisbert, Matthias Schmidt, Tesla, JENS SCHLUETER, that's Organizations: BMW, Mercedes, Benz, Service, Volkswagen, Wednesday VW, VW, dpa, China Passenger Car Association, Getty Images, Ostfalia University, Getty, European Union, Volkswagen Group, UBS Locations: Germany, China, Europe, North America, South America, China —, AFP

☆ I've taken the Amtrak Auto Train, where you take your car with you, over a dozen times. It's great for overpackers who want to reduce driving time.
▼ + stars: | 2024-10-30 | by ( Bobbi Dempsey | ) www.businessinsider.com time to read: +4 min

I enjoy the Auto Train — it's a great way to save about 900 miles of driving on busy highways. So it's not surprising that I'm a big fan of the Auto Train, an Amtrak route unlike any other. Related VideoI've taken the Auto Train many times over the years — often accompanied by several children — and I've really enjoyed it. The Auto Train is great for families and heavy packers who want to avoid driving too much on their tripThe Amtrak Auto Train is quite comfortable. By contrast, when you travel by Auto Train, you can bring as much stuff as you can squeeze into your vehicle.

Persons: —, it's, I've, Bobbi Dempsey, you've Organizations: Amtrak, Service, Passengers, packers, Auto Train Locations: Virginia, Florida, Lorton, Washington, Sanford , Florida, Orlando, Canada

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